Category: Cryptocurrency News

BlackRock CEO Larry Fink on Monday weighed in on the firm's pending Bitcoin exchange-traded fund application following a wild morning after Cointelegraph reported it had been approved by the Securities and Exchange Commission (SEC). The news outlet retracted the story shortly after publication. "I can't talk about the specifics of anything, I think it's just…
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Unsustainable financials and low fees generated by Lido on Solana were two of the main reasons for the sunsetting.

The ADA price has moved in tandem with the rest of the crypto market after a small rally but Cardano whales continue to threaten this positive price action. According to recent data, the balances of large ADA whales have continued to decline, suggesting that they may be selling off their substantial holdings. Cardano Whale Balances See Large Drop Over the last month, the balances of Cardano’s largest holders have been on a decline. This has occurred as the price of ADA has fallen but with each small recovery, these whales seem to be taking advantage of the market to sell at a profit. Related Reading: Standard Chartered Says Ethereum Price Can Reach $35,000, Here’s When The significant drop in balances over time has been noticed in the wallets holding between 1 million and 10 million ADA have fallen. This assertion is backed up by data from IntoTheBlock which shows a large decline in the holdings of these large holders. 1 million to 10 million token holders dump | Source: IntoTheBlock Toward the end of September, addresses holding between 1 million and 10 million ADA held a total of 5.63 billion tokens. However, going into October, their balances began to drop by the millions. By October 15, their total balance was sitting at 5.41 billion, representing a drop of 220 million tokens. At the same time that this was happening, larger whales holding between 10 million and 100 million ADA have been increasing their balances. Their holdings increased from 11.81 billion ADA to 12.26 billion ADA toward the end of September. It then saw a small reversal but in August, their holdings settled at 12.16 billion tokens, representing a 300 million increase. This would suggest that while the 1 million to 10 million cohort had been selling, the 10 million and 100 million cohort had seized the opportunity to buy. This ended in a transfer of over 300 million ADA to these already massive whales, increasing their dominance in the market. XRP recovers above $0.25 | Source: ADAUSD on Tradingview.com ADA Holders Plunge Further Into Losses Amid the sell-offs from the 1 million to 10 million ADA cohort, Cardano holders continue to feel the impact of the bear market. Unlike the rest of the top 10 largest cryptocurrencies which have maintained a good profitability ratio, ADA has performed horribly. Only 6% in addresses in profit | Source: IntoTheBlock According to data from IntoTheBlock, only 6% of the almost 4.5 million ADA holders are seeing profit. A whopping 4.09 million addresses are sitting in losses, accounting for 91.76% of the total holder base. In contrast, 2.06% (91,990) addresses are breaking even. Related Reading: Will Ethereum Drop Back To $900? Here’s What This Analyst Thinks ADA is currently trading at $0.25, a 91.84% drop from its all-time high price of $3.10, according to Messari. However, it remains the 8th-largest cryptocurrency with a market cap of $8.88 billion. Follow Best Owie on X (formerly Twitter) for market insights, updates, and the occasional funny tweet… Featured image from The Currency Analytics, chart from TradingView.com

Due to its innovation, Uniswap Labs plans to introduce Hooks in the upcoming Uniswap v4, putting the world’s leading decentralized exchange in the spotlight. According to a critic on social media platform X, the DEX is on the know-your-customer (KYC)-verification route once Hooks on Uniswap v4 are released. Uniswap v4 Hooks Is The Beginning Of Censorship? Sharing screenshots, the user shared insights and said the exchange brings KYC verifications on the latest iteration. At the same time, the platform plans to use the “permission required” off-chain server on UniswapX for performance enhancements.  UniswapX is an open-source solution allowing permissionless and open trading across Automated Market Makers (AMMs) and other liquidity sources. It is currently being tested on the Ethereum mainnet. Though the community has embraced these developments, the critic said these requirements, especially the identity verification requirement on Hooks, will be available as an option before being gradually made mandatory down the line. Related Reading: Bitcoin Takes The Lead As Crypto Funds See Third Straight Week Of Inflows Uniswap v4 is being developed, and Hooks will be one of the key updates. Hooks are programmable extensions for customizing pool and trade behavior, tightly integrated with Uniswap’s core protocol.  With Hooks, it becomes easier for developers to implement other features such as dynamic fees, on-chain limit orders, and overly improved customization. In this way, it will also be possible to integrate Uniswap v4 into other protocols. Uniswap Evolution: Building “Real” DeFi? The DEX has constantly evolved and released new features since the first version went live in late 2018. Uniswap v1 introduced AMM, opening up decentralized finance (DeFi). This allowed liquidity providers (LPs) to be crucial to market making.  In Uniswap v3, the exchange released concentrated liquidity (CL). This feature allows LPs to specify a price range within which they are willing to provide liquidity. In Uniswap v2, LPs provided liquidity across the entire price range of the token pair. In v3, liquidity depth increases while traders get better pricing. Related Reading: Tether Freezes 32 Crypto Addresses Linked To Terrorism In Israel And Ukraine Despite the criticism, Hooks has been supported in some quarters. For instance, the user acknowledged that the feature would amplify the value proposition of some protocols, making them real “DeFi” platforms. At the same time, while responding to the critic, another commentator said the feature will do more than what anybody else has done for “real DeFi.” Feature image from Canva, chart from TradingView

The administration for the mayor of New York City has released a plan for creating a framework for government agencies to utlitize AI, along with the pilot of the city’s first AI chatbot.

Cointelegraph apologizes to its readers and discusses its investigation into what led to the posting of unverified news on X about a spot Bitcoin ETF.

Nishad Singh’s testimony was seemingly part of prosecutors’ strategy to establish Sam Bankman-Fried had been behind Alameda Research using FTX user funds.