Day: January 28, 2023

Stablecoin Economy Sheds Another $3 Billion in 44 Days – Altcoins Bitcoin News

Jamie Redman

The stablecoin economy continues to deplete as more than $3 billion has been erased from the stablecoin market ecosystem over the last 44 days. While statistics show that tether’s market valuation has risen by 2% over the last 30 days, usd coin’s market cap slid by 2.9%, BUSD valuation shed 7.2% over the last month and gemini dollar’s market capitalization slid by 1.5%. $3 Billion in Dollar-Pegged Tokens Erased in 44 Days as Stablecoin Swaps Represent Nearly 80% of Global Crypto Trade Volume The overall value of the top stablecoins…

Redefining the ‘metaverse’ — how to determine real utility in the Web3 world

Alan Vey

It’s time to redefine what has come to be known as the metaverse — a reimagined internet, integrating both established and new technologies (think mixed reality) — to Web3. Though possibilities appear to be plentiful, the ‘digital reality’ perception of the metaverse is too far off in the horizon and not currently widely relevant. Rather than focusing on the metaverse, then, businesses need to consider the real-life use-cases for Web3 — including decentralization, blockchain, and token-based economics — including crypto and non-fungible tokens (NFTs), to gauge their true value, sustainability,…

Sam Bankman-Fried seeks to access FTX funds

Ana Paula Pereira

Sam Bankman-Fried’s legal team is seeking to remove a bail condition that prevented him from accessing FTX’s funds, according to court filings from Jan. 28. A letter from Bankman-Fried’s lawyer, Mark Cohen, to United States District Court Judge Lewis Kaplan stated that Bankman-Fried should have access to assets held by FTX, claiming the client was not involved in previous unauthorized transactions. FTX and FTX US have sought over $659 million in unauthorized transfers amid the collapse of the cryptocurrency exchange in November 2022, according to Nansen data reported by Cointelegraph.…

Litecoin’s Hashrate Reaches All-Time High, Difficulty Follows Suit – Altcoins Bitcoin News

Jamie Redman

The blockchain network Litecoin’s computational power reached an all-time high (ATH) on Wednesday, Jan. 25, 2023, at block height 2,411,048, reaching 798.43 terahash per second (TH/s). In addition, Litecoin’s difficulty also reached an all-time high this week, hitting 23,505,031 the following day. Litecoin’s Computational Power Climbs 38% in 30 Days A significant amount of hashrate has been dedicated to the Litecoin (LTC) network over the last 30 days as the blockchain’s computational power climbed 38% higher from 576 terahash per second (TH/s) on Dec. 28, 2022, to the all-time high…