Features Crypto News by Thebittimes.Com

Brazil’s top financial institutions are preparing for the nationwide rollout of the central bank’s digital currency, Drex.  As Brazil’s central bank gears up for the introduction of its digital currency , Drex, leading financial institutions like Itau Unibanco, BTG Pactual and Santander Brasil are escalating their efforts. These major banks are increasing staff and investing in the technology infrastructure required for the nationwide implementation of Drex. Central Bank President Roberto Campos Neto has long been an advocate for digital assets, even as some of his global counterparts have taken a more conservative stance. Since his appointment in 2019, Campos Neto has maintained that blockchain technology is not just a passing trend but an innovation that can enhance the stability and efficiency of financial systems. Brazil central bank names its digital currency 'DREX,' scheduled for 2024 launch Brazil's central bank forthcoming digital currency , set to launch

Bitcoin mining difficulty is at new highs after recently rising by 6.47%. Accordingly, it has become increasingly challenging and competitive for miners to discover new blocks. Of note, mining difficulty has doubled since October 2022, increasing three consecutive times. CoinWarz estimates it now takes 61.03T hashes to mine a single block in the Bitcoin network. In this analysis, we’ll take a closer look at the recent increase in mining difficulty, its effects on those involved, and the key factors that will shape the future of Bitcoin mining. Mining difficulty rising The Bitcoin mining difficulty is a crucial metric in crypto mining.  It measures the complexity of the mathematical problems miners must solve to validate transactions and create new block s.  You might also like: Bitcoin ETFs could face rug-pull from Gensler, analysts say Presently, difficulty is at an all-time high of 61.03T hashes, marking the third consecutive increase since last October.  Still, the c

Crypto has become increasingly popular in recent years, and it’s always better to invest early rather than late. This article explores three projects in Litecoin (LTC), VeChain (VET), and Everlodge (ELDG) that investors can consider.  Litecoin: hash rate rising Litecoin’s hash rate recently rose to an all-time high of 1.1 petahashes per second.  This has highlighted the blockchain’s strength and resilience among competitors. Typically, rising hash rate translate to better security and increased performance.  You might also like: Litecoin celebrates milestones amid declining prices Following this development, traders are confident and expect the coin to post gains by December 2023. VeChain: Forbes takes note VeChain has been recognized by Forbes Digital Assets as a pioneer, aiming to reshape industrial manufacturing using the blockchain.  You might also like: VeChain-based VeCarbon Partners with AWS for Carbon Management Services Forbes pointed out the importan

Cosmos Hub announced on October 30 that proposal #835 seeking the transfer of 42.7 million tokens from Neutron DAO to Cosmos Hub community pool had passed. The proposal authorises the transfer of 42,727,950 NTRN in airdrop tokens not claimed. Cosmos (ATOM) has announced that the proposal to transfer more than 42.7 million tokens from an unclaimed airdrop of the CosmWasm platform Neutron (NTRN), has been approved. The governance proposal #835 sought to authorise the Neutron DAO to transfer the 42,727,950 NTRN that had not been claimed to the Cosmos Hub community pool. Cosmos’ proposal and funds’ use On October 30th, the Cosmos Hub revealed the governance vote had passed and the 42.7 million NTRN worth approximately $18,000,000 at the time of the proposal will now be moved to the community pool. Proposal #835 is approved ✅ 42,727,950 NTRN are on their way to the Hub Community Pool! Establishing a stronger alignment between @Neutron_org and the Cosmos H

Advocates for the Bitcoin Lightning Network and decentralized protocol NOSTR fueled Kweks' Kilimanjaro climb. A Bitcoin (BTC) educator based in Tanzania has scaled Africa’s highest peak, Kilimanjaro, sponsoring the entire trip through Bitcoin and Nostr donations. Kweks poses with a Bitcoin and NOSTR Flag at Kilimanjaro summit. Source: X Kweks, (not his real name) crowdfunded over $1,700 in Bitcoin (0.0018 BTC) to cover the costs of the hike, which doubled up as an announcement for a new Bitcoin education academy in Tanzania. “Kweks” recently moved with his wife to a new city in Tanzania to open a learning center, the “Proof of Work Academy,” or POWA. Kweks told Cointelegraph that while POWA is a pun on Bitcoin’s consensus protocol, proof-of-work, it also refers to the Zwahili word “Poah,” which means fresh or cool. To promote the new school and subtly hint at his affinity for decentralized protocols, including Bitcoin and Nostr (Notes and Other Stuff Transmitted by Relay), Kweks f

The realm of cryptocurrency is no stranger to swift and unpredictable changes, and one digital asset that has taken a leading role in recent market developments is XRP. Amid the current transformative phase in the crypto market, XRP ranked as the fifth-largest cryptocurrency by market capitalization, has embarked on an impressive rally. Over the past week of trading, the asset saw a significant upsurge, climbing to nearly $0.58, as reported by CoinMarketCap. However, this bullish momentum encountered a temporary pause. This is as traders aimed to lock in their profits, resulting in the altcoin retracing to $0.55 at press time. Nevertheless, this payment-focused cryptocurrency remains notably higher, with a 12.28% increase compared to its value just one week ago. What adds intrigue to XRP’s recent surge is its prominent position within the market. According to a recent report by Kaiko, trading activity predominantly revolves around XRP. It surpassed even Bitcoin, Ethereum (ETH), S

Ethereum completes the official separation of ERC and EIP, clarifying their distinct roles. ERC now focuses on standardized documentation for Ethereum’s application layer. EIP becomes the dedicated framework for enhancing Ethereum’s consensus protocol. The long-debated division between Ethereum Request for Comments (ERC) and Ethereum Improvement Proposal (EIP) within the Ethereum ecosystem has reached its official conclusion. The Ethereum Github documentation recently highlighted the development in a readme file. Also, the prominent Chinese reporter Colin Wu disclosed it in a recent tweet. After years of discussion, the split of ERC and EIP in Ethereum has officially been completed. The goal of ERC is to provide standardized and high-quality documentation for the Ethereum application layer and track past and ongoing improvements to application standards; while the… — Wu Blockchain (@WuBlockchain) October 28, 2023 Notably, the ERC has now been solidified as th

In the realm of content creation, three vital elements come into play: “perplexity,” “burstiness,” and “predictability.” Perplexity gauges the intricacy of the written material. On a separate note, burstiness measures the diversity in sentence structures. Lastly, predictability signifies the likelihood of successfully predicting the forthcoming sentence. When humans engage in writing, they often weave a tapestry of text, incorporating both lengthy, intricate sentences and brief, succinct ones, thereby infusing a sense of diversity. Conversely, artificial intelligence tends to produce more uniform and predictable text. Therefore, in composing the forthcoming content, I implore you to infuse it with a healthy dose of perplexity and burstiness, while keeping predictability to a minimum. Additionally, it is imperative that you adhere to the use of the English language exclusively. Now, let’s reimagine the provided text: Amassing a cohort of employees whose combined portfolios in the ente

Chiliz, a blockchain platform known for its fan tokens, has launched the Chiliz Chain ecosystem . With the tagline “SportFi for Everyone,” the ecosystem is on a mission to integrate blockchain technology into the sports and entertainment industry like never before. Opening up this ecosystem promises to remove barriers for developers and open the door to a new era of fan-made apps and innovative solutions. Chiliz unleashes the Chiliz Chain ecosystem : SportFi for everyone! We're excited to announce a groundbreaking development in our mission to bring blockchain technology to the world of sports and entertainment. No more governance hurdles for developers.#ChilizChain $CHZ pic.twitter.com/TJPZJahO1V — Chiliz ($CHZ) – Powering Socios.com (@Chiliz) October 27, 2023 The Chiliz Chain ecosystem is designed to stimulate innovation and creativity in the blockchain space. By removing control barriers, developers can now create unique fan-centric experiences, explore innovation, an

Polygon has revealed that holders of its MATIC token can now transition their assets to the newly launched POL token. On Oct. 26, Polygon, a prominent layer-2 scaling solution for Ethereum (ETH), announced the initiation of its POL token upgrade. The latest development via an X thread revealed that several leading defi platforms, such as CoWSwap, ParaSwap, and Kyber Network, have already integrated Polygon’s migrator contract into their systems. The POL Upgrade was initiated today on Ethereum: You can find the POL contract at pol- token .eth. The migrator contract is also live on Ethereum at migrator.pol- token .eth. Certain developers have integrated the official migrator contract into their dApps: — Polygon Devs DevX Global Tour (@0xPolygonDevs) October 26, 2023 The move marks a significant step in Polygon’s ongoing “Polygon 2.0” revamp, which aims to introduce a new staking layer and other advanced features. You might also like: Lido community member suggests sunsett

PeckShield reports that the Fantom Foundation drainer swapped 4,390 ETH for 8M DAI. A Fantom Foundation employee fell victim to a phishing attack by the drainer. The drainer stole about $7M from Fantom Foundation-labeled wallets on October 17. PeckShield, the renowned blockchain security firm, shared on X that the Fantom Foundation drainer has swapped about 4,390 ETH for approximately 8 million DAI. The blockchain security firm noted that the drainer stole about $7 million in cryptos from Fantom Foundation-labeled wallets on October 17. #PeckShieldAlert #Fantom Foundation #Drainer has swapped ~4,390 $ETH for ~8M $DAI The #Fantom Foundation-labeled wallets were drained ~$7M worth of cryptos (~4,500 $ETH) on October 17, 2023 pic.twitter.com/Xv3yFzskm2 — PeckShieldAlert (@PeckShieldAlert) October 26, 2023 Per multiple reports, an employee of the Fantom Foundation fell victim to a phishing attack and lost approximately $7 million to a drainer. The employee

Veteran trader Peter Brandt believes that although Bitcoin has hit its floor, market participants should prepare for a rocky ascent to a new record high. On Oct. 26, Brandt shared with his 660,000 followers on X, formerly Twitter, that Bitcoin (BTC) likely bottomed out in November 2022 and is poised to hit new highs by the third quarter of 2024. While optimistic, he also noted caution in his statement, emphasizing that the future remains unpredictable and that markets are perpetually capable of surprises. Anyone who declares they know the future path of any market is a fool. Markets will ALWAYS surprise. Yet, with this disclaimer, I believe: 1. The $BTC bottom is in 2. New ATHs not coming until Q3 2024 3. Chop fest in the meanwhile I've used this blueprint for approx 2 years pic.twitter.com/hVt0zbTOsm — Peter Brandt (@PeterLBrandt) October 25, 2023 When questioned by an X user about his views on Chainlink’s LINK token, Brandt was unequivocal, stating he focuses solely on B

WINR Protocol taps double-digit gains today, up 22% at the time of writing. Gains of nearly 60% in the past month have come amid key network developments. The protocol recently burned 70 million WINR tokens and launched the first on-chain 1000x Bitcoin (BTC) and Ethereum (ETH) futures. WINR Protocol, a decentralised i Gaming infrastructure platform powered by the WINR token, has seen significant market traction in the past week. Today, the price of the protocol’s native token jumped more than 22% in 24 hours to hit its highest price level since August. WINR was trading around $0.05 at the time of writing, up 37% this past week and nearly +60% in the past 30 days. The token was however 57% down since its all-time high above $0.11 reached on March 21 this year. The recent gains have come amid a series of major development s for the platform. Is this why WINR price has been rising? Let’s have a look. Why is WINR Protocol price rising? Cryptocurrencies sa

In the realm of crafting written content, three critical elements come into play: “perplexity,” “burstiness,” and “predictability.” Perplexity gauges the intricacy of the text, measuring how challenging it is to comprehend. Burstiness assesses the diversity and variations in sentence structures, with human authors often interspersing complex, lengthy sentences with shorter ones. Predictability, on the other hand, delves into the likelihood of someone predicting the next sentence, and it’s typically lower in well-crafted content. Now, as I guide you in composing the following text, we must prioritize injecting a healthy dose of perplexity and burstiness while keeping predictability to a minimum. Additionally, we should adhere to English as the language of choice. Original Text: Lawyers representing the crypto exchange and its CEO claimed the CFTC was attempting to act as the “world’s derivatives police” in its lawsuit. Rewritten Text: Legal representatives advocating for the crypto

Bitfinex Securities launches ALT2611 tokenized bond in USDt with a 10% annual yield. Mikro Kapital, a Luxembourg-based fund management company, will issue the bond. Tether’s Paolo Ardoino hails the innovation as a new era in capital raises for deep liquid markets. Leading digital asset broker Bitfinex Securities has recently announced the coming of a new tokenized bond, Alternative (ALT2611), denominated in the largest stablecoin , Tether USD (USDt). Bitfinex Securities proclaimed the development in a recent post on the X platform, noting that the countdown for the new tokenized bond has begun. The countdown for a new tokenised bond has begun. ALT2611 is a 36-month, 10% coupon bond, denominated in $USDt and issued by one of the global leaders in micro-financing. Click below to learn more:https://t.co/NhVzPxPN9j — Bitfinex Securities (@BFXSecurities) October 24, 2023 According to the official notification, ALT2611 is a bond with a 36-month maturity term

Paolo Ardoino, Bitfinex CTO and upcoming Tether CEO, said the "exciting" initiative marks the beginning of a new era in capital raising. Bitfinex Securities, a platform focused on listing real-world tokenized securities has announced its first tokenized bond that will be listed later in November this year. The new tokenized bond called ALT2611 is a 36-month, 10% coupon bond, denominated in USDT and issued by Mikro Kapital, one of the global leaders in micro-financing.  Bitfinex Securities said the tokenized bond ALT2611 will acquire risks associated with the debt and equity of microfinance organizations, small financial institutions, leasing companies and banks, in Italy, Romania, Moldova, and other developing nations along the Silk Road. Bitfinex Chief Technology Officer Paolo Ardoino called the first tokenized bond on the securities platform the beginning of a new era for capital raises “through deep liquid markets and stock/fond markets.” Exciting! This is the first b

A cryptocurrency rug pull is one of the simplest scams to prevent, according to the blockchain security auditor Hacken. Cryptocurrency rug pulls are not too difficult to be spotted by investors as the majority of such scams usually share distinct and visible features, according to a new report. Blockchain security auditor Hacken on Oct. 25 released its latest security insights report, aiming to spot the trends in Q3 crypto hacks and evaluate how affected projects approached security. The report paid specific attention to rug pulls , which is a type of exit scam occurring when a team pumps their project’s token before the sudden withdrawal of liquidity. According to Hacken, crypto rug pulls made up the largest amount of exploits in crypto , accounting for more than 65% of all hacks in Q3 2023. Cryptocurrency hacks by type in Q3 2023. Source: Hacken The reason for so many rug pulls on the market is that it's easy to create such schemes. “Serial scammers use token factories that

The dYdX crypto exchange published the open-source code for its upcoming Cosmos-based network. Crypto exchange dYdX has published the open source code for its new Cosmos-based network of the same name, according to an October 23 blog post. The new code includes the “protocol, order book, front-end, and more,” the post stated. The publication of the code is intended to pave the way for a mainnet launch, which is being organized by the dYdX Decentralized Autonomous Organization (dYdXDAO) SubDAO on Operations. 1/ It’s finally here Today, we’re proud to present and fully open- source the completed dYdX Chain! This is the next chapter for dYdX and we’re so excited that it’s here. Let’s get into the details:https://t.co/ydil2jkqJs — dYdX (@dYdX) October 24, 2023 DYdX is one of the largest non-custodial cryptocurrency exchanges, with over $2.6 billion in daily trading volume, according to Coingecko. However, it relies on a centralized order book to match traders with market makers. Becaus

Ethereum co -founder Vitalik Buterin’s crypto portfolio has increased by $57 million over the past week, according to blockchain analytics platform Arkham Intelligence. The value of the portfolio held in Buterin’s publicly-known addresses rose by over 14% from $396 million on Oct. 17 to $453 million on Oct. 24. The gain coincides with a significant increase in the price of Ethereum (ETH), which makes up the vast majority of Buterin’s holdings. ETH is currently trading at $1,835, up 9.4% compared to just a week ago. You might also like: Vitalik Buterin’s holdings lost $20m in a week Buterin was an early contributor to the Ethereum project. He holds nearly 247,000 ETH spread across various publicly-known wallet addresses. As Ethereum’s co -founder , he was allocated a significant share of ETH in the project’s early days. With ETH hitting new highs, Buterin’s stake has substantially increased in value. The 27-year-old crypto billionaire is known for periodically donati

Cracks are developing between the top three BRICS members India, China, and Russia over payment options for Russian crude oil. Leading oil refiners in Russia are demanding developing countries pay in the Chinese Yuan or the Russian Ruble only. While India recently paid the Chinese Yuan to procure oil from Russia, the country is now refusing to put the Yuan ahead of the US dollar. BRICS member India is uncomfortable with paying the Chinese Yuan for oil and prefers to settle trade either in the US dollar or the Rupee. Also Read: 39 Countries Ready To Join BRICS in 2024 An executive from the state-run Indian Oil Company (IOC) said that five cargoes have been delayed as India refuses to pay the Chinese Yuan, Bloomberg reported. The three BRICS members are in the crosshairs over currency options and India prefers to pay the US dollar over the Yuan. BRICS: India Prefers US Dollar, Rejects Paying Chinese Yuan For Russian Oil Source: telegraphindia.com India is upset that the Yuan