After a short reprieve over the weekend, cryptocurrencies continued their dramatic and prolonged slide on Monday, culminating in bitcoin losing nearly half of its value since it hit record highs last November.
To kick off the traditional Chinese New Year, Ant Group, an affiliate company of the Chinese Alibaba Group and owner of China’s largest digital payment platform Alipay, will be promoting a large number of digital collectibles that have quite a lot in common with non-fungible tokens (NFTs).
On Thursday, Russia’s Central Bank launched a proposal to ban both cryptocurrency investments and mining, joining in a chorus of governments around the world cracking down on digital currencies while highlighting the various threats cryptocurrencies pose to monetary stability and private citizens.
As noted by the widely popular crypto analyst Lark Davis, crypto exchange Binance has started to allow users to make direct withdrawals to Layer Two Ethereum Networks. Binance first announced plans to integrate the Arbitrum One Network and simultaneously open deposits for ETH on Arbitrum One Layer 2 back in November of 2021. After the most recent developments, users now have the ability to make withdrawals as well as deposit ETH to their Binance accounts using the Arbitrum One Layer 2 solution.
Africa Blockchain University (ABU) is a non-profit institution headquartered in Port Louis, the capital city of Mauritius, dedicated to promoting and expanding the use of blockchain technology throughout the continent of Africa through policy advocacy, research, training, and project incubation.
MATIC is an Ethereum token used to power the Polygon Network, a scaling solution for Ethereum with aims to provide faster, easier, and less expensive transactions than rival networks. The MATIC token is used to pay for all transaction fees and is needed to participate in proof-of-stake consensus and has been in high demand over the weekend. The cryptocurrency tracking outfit Whale Alert just released information that an unregistered owner just transferred 2, 674,144 MATIC tokens worth almost $6 million to the Binance exchange. When added to the amount of MATIC moved by whales over the weekend, it adds up to a combined 25.4 million tokens changing hands for the Polygon blockchain.
Selling pressure continues to mount for weak-handed Bitcoin investors as the crypto market slump continues dragging the price of BTC down to $41,175.84 Friday morning, representing more than a 30% drop from its all-time high of $69,000 reached in November. Concurrently, whales are seizing this opportunity to accumulate Bitcoin at a discount in anticipation of a near-term rebound.
Russia has officially entered into the crypto ring as news broke that the largest bank within the Russian Federation, Sberbank, has created a blockchain exchange-traded fund (ETF) tracking some of the biggest players in the blockchain industry. The fund, which is named Sberbank – Blockchain Economy, will reportedly trade on the Russian stock market under the ticker symbol SBBE and is the first such product to become available in Russia, giving locals the freedom to enter into the digital asset market without having to purchase, store, or sell tokens.
A troubling trend has surfaced in El Salvador over the past few weeks as citizens have been posting about the mysterious loss of funds from their Chivo wallets. El Salvador adopted one of the world’s most crypto friendly stances when the government announced in September that Bitcoin would be accepted as a legal tender, along with awarding fractional shares of Bitcoin, approximately worth $30, to all citizens who signed up for the government’s preferred digital wallet, Chivo.
HashCash Consultants, a leading blockchain and cryptocurrency development company headquartered in the USA, has proposed and conceptualized a blockchain-powered pharmacology system to fight drug fraud. From unlawful kickbacks and large scale manipulation of clinical trials to outright fraudulence behavior targeting the FDA, failures to comply with good manufacturing practices, compounded drug fraud, and illegal drug switching, the pharmaceutical industry is regularly found to be engaged and targeted by fraud and illegal activities in a variety of ways.