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According to a recent finding by Messari, a well-known crypto data analytic firm, Arbitrum, the layer two scaling solution for the Ethereum (ETH) network, has managed to carve out a lucrative niche within the decentralized finance (DeFi) sector.  The report noted that the blockchain scaling solution had gained significant traction and captured the crypto community’s attention despite the potential for farming activity. It added that Arbitrum’s integration with GMX_IO, a leading platform for perpetual contracts, has played a crucial role in its mass adoption.  What’s particularly noteworthy is the sustained growth in user adoption, even after the conclusion of the promised token incentives. Messari revealed that user adoption increased over two-fold, even after the promised token incentive ended. Despite the potential farming activity, @Arbitrum found a niche within DeFi, gaining mass adoption for perpetual platforms such as @GMX_IO. Additionally, user a...

Also Read: Ripple CEO Warns “Confusing Laws” Will Push Crypto Firms To Leave US advertisement Why Didn’t US SEC Appeal? As per reports, U.S. SEC had the option to file an interlocutory appeal against the decision. While the commission had 10 days to file a reconsideration in the matter. Attorney John Deaton, amicus curiae in the XRP lawsuit gave out reasons over Why didn’t the U.S. SEC file an appeal. He highlighted that the commission could have submitted a Writ of Mandamus but it would be failed. He added that even if the judge allowed them to file an interlocutory appeal on the documents, it would also fail. He mentioned that the 2nd circuit court of Appeals would not overturn its decision that the email linked to the Hinman speech is not shielded by the attorney client or Deliberative process privilege. Read More XRP News Here… Recommended Articles ...

The US state of Texas is taking a significant step towards increased transparency and consumer protection in the crypto currency industry, as legislation requiring crypto exchanges to maintain reserves moves closer to becoming law. On May 15, the proof- of -reserves bill successfully passed a vote in the state Senate and now awaits only the signature of the governor. The bill, known as Texas House Bill 1666, seeks to amend the Texan finance code and has previously passed through the state’s House of Representatives. Throughout the Senate readings, the bill has remained largely unchanged from its initial draft. Under the proposed amendments, digital asset providers serving more than 500 customers in the state, with a minimum of $10 million in customer funds, will be required to keep customer funds separate from operational capital. Furthermore, these funds must not be used for any purpose other than fulfilling the original transaction requested by the customer. Explained: ...

Bitcoin has grown in popularity over time. Because of its rising usage, BTC has become a payment method that many consumers use. Despite the fact that there are multiple sites for buying, trading, and sending Bitcoin, Cash App has grown in prominence.  Despite the fact that the application is called “Cash App,” it allows users to send and receive Bitcoin. Let’s have a look at how simple it is to withdraw Bitcoin using the Cash App. Before that, let us get to know Cash App a little better. Also read: How to Stake XRP? Source: Money What is Cash App? The Cash App , which was formerly known as Square Cash, is a mobile payment service that was released in 2013. It was developed by Square, Inc., with its services available in the US and the UK. Using a smartphone app, users can send and receive money between and among friends, family, and companies. Peer-to-peer money transfers, the opportunity to buy and sell Bitcoin, a card to make purchases, and the choice to invest in ...

The move comes as Bloomberg reported that Binance continues to lose its dominance in the crypto market due to heightened scrutiny and regulatory action by US regulators. Also, Binance is witnessing low liquidity as compared to earlier quarters as Jump Crypto  and  Jane Street are pulling back their market-making activity from the US. advertisement Also Read : Do Kwon and Terraform Labs Withdraw Millions A Year After Terra-LUNA Crisis Binance Announces Zero Trading Fees After Losing Market Share Crypto exchange Binance introduces zero-fee crypto trading for Auto Invest investors, according to an official announcement on May 18. The zero trading fees will be available only for a month, May 18-June 18. Users will be able to buy over 210 cryptocurrencies including Binance, Ethereum, Shiba Inu, PEPE, and others on Auto Invest. It has more than 15 fiat currencies and stablecoins via the Single-Token , Portfolio, and Index-Linked plans . ...

Join Our Telegram channel to stay up to date on breaking news coverage The Terra Classic token LUNC has faced difficulties since the Terra ecosystem’s collapse, which resulted in the splitting of its blockchain. However, $LUNC seemed to have gained traction and reversed course, gaining 3.09% in the last 24 hours. Despite the recent financial crisis that gripped the industry, this gain occurred as the overall crypto market rallied. While major assets like Bitcoin and Ethereum lead the charge, $LUNC has also grabbed onto the bullish wave. Is now the ideal time to purchase $LUNC, given its recent rise and market momentum? LUNC Finds a Foothold and Retraces At press time, Terra Classic $LUNC is trading at $0.000093, indicating an uptrend of 3.09% in the last 24 hours. However, prior to this surge, the asset had a slump of 0.9% in the last seven days, 12.6% in the last two weeks, and 26.2% in the last month. $LUNC has a 24-hour trading volume of $31 million, indicating an...

Bitcoin remains in a tight range with low liquidity, but expectations for new local lows are increasing. Bitcoin (BTC) looked poised to give up $27,000 as support on May 17 with traders lying in wait for new lows. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Whales meet low liquidity Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading near $26,800 at the time of writing. The pair had staged multiple crosses of the $27,000 mark the day prior, that area forming a low-timeframe focus now at risk of breaking down. BTC/USD annotated chart. Source: Crypto Tony/ Twitter “3 wave up into resistance, followed by a retest and a rejection off resistance zone,” popular trader Crypto Tony summarized about recent activity. He added that a potential target to wait for was now $26,400. Trading account TraderSZ had previously predicted an “expansion candle” to enter should the breakdown continue. $BTC daily. Looks like it’s breaking down. If correct we should get...

LDO price is well-positioned to gain another 50% by June based on a classic bullish reversal setup after Lido DAO rebounds 40%. The price of Lido DAO (LDO) has rebounded to its three-week high of $2.21 as of May 16, up 40% when measured from its local low of $1.57, established four days ago. This impressive double-digit recovery appeared in tandem with other top-ranking crypto assets, including Bitcoin (BTC) and Ether (ETH). However, LDO has greatly outperformed the broader crypto market (TOTAL) that's up only 4.5% since May 12. LDO/USD daily price returns vs. BTC/USD, ETH/USD, and TOTAL. Source: TradingView But what are the reasons why Lido DAO is outperforming the rest of the cryptocurrency market right now? Let's take a closer look at the three biggest factors likely driving up LDO price .   Ethereum depositors' return after Shapella The LDO price recovery coincides with the net positive inflows into Ethereum's proof-of-stake (PoS) contract in recent days. Lido DA...

Shiba Inu’s (SHIB) burn rate spiked by 26450.21% as over 3 billion SHIB tokens were sent to the dead wallet. This is the third time in May that SHIB’s burn rate has spiked by five-digit percentage points. Source: Shibburn The recent burn spike is attributed to one particular project taking an active part in burning Shiba Inu (SHIB) tokens. Blaze Token, another crypto project, is responsible for the 3 billion SHIB tokens being taken off circulation. https://t.co/yzqjpuP3qX BURN ANNOUNCEMENT $SHIB BURN 3,016,000,000 BILLION $BLZE BURN 1,422,000,000 BILLION TOTAL TO DATE $SHIB BURN 6,716,000,000 BILLION TOTAL TO DATE $BLZE BURN 7,884,000,000 BILLION +400% From Launch — Blaze Token (@blaze_token) May 15, 2023 Moreover, this is not the first time Blaze Token has sent a large number of SHIB tokens to the burn wallet. Earlier this month, the project removed 2 billion SHIB from circulation, causing the burn rate to spike by almost 30,000%. As per the project’s Twitt...

VeChain is trading on the back foot this month showing little to no gains in the indices. The supply chain-related token is on a downward spiral since April and fell below the $0.020 mark on Monday. VET is now at its lowest price since January as its hovering around the $0.019 mark. It shed most of the gains that it generated in Q1 of 2023 dimming the light of its investors’ portfolio. Also Read: PulseChain Mainnet and PulseX Goes Live Source: Coingecko Now that VeChain has dipped below $0.020, can it move up in the indices in the next two weeks? In this article, we will highlight VeChain ’s price prediction for mid-May 2023. VeChain: VET Price Prediction For May 2023 Source: Reddit On-chain metrics and price prediction firm CoinCodex has painted a bearish picture for VeChain for the next two weeks. According to the price prediction, VET could dip further by the end of the month and shed double-digit losses. VeChain could fall from $0.019 to a new low of $0.016 by ...