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Steve Hanke, professor of applied economics at Johns Hopkins University, has criticized bitcoin, stating it is not a currency. The economist, known for his vocal opinions about crypto and for the promotion of dollarization initiatives in Latam, blasted bitcoin, saying it has a “fundamental value of zero,” and that it is a “highly speculative asset.” Steve Hanke Criticizes Bitcoin’s Function and Value Steve Hanke, professor of applied economics at Johns Hopkins, has criticized bitcoin and its value in one of his latest tweets. The economist, known to be very vocal about the negative effect that crypto can have on world economies, contested bitcoin’s utility, stating: Bitcoin is not a currency. It’s just a highly speculative asset with a fundamental value of zero. Hanke illustrated his opinion with a cartoon drawn by Robert Rich, as part of his work for Hedgeye Risk Management, where he compares other main fiat currencies including the dolla...

Luganodes and Ankr are now partners to strengthen AppChain Infrastructure. AppChains is a scalability solution that is quickly gaining steam. In this arrangement, the two trusted blockchain infrastructure providers will offer expansive resources for running reliable and secure validator nodes on AppChain ecosystems. “We are thrilled to partner with Ankr and strengthen our commitment to providing dependable and efficient blockchain infrastructure. This partner ship will enable us to deliver hassle-free operations, ensuring exceptional performance and scalability.”— Anuj Shankar, CEO of Luga nodes “Luga nodes will greatly expand the available node resources for those building on Supernets and BNB Sidechains with Ankr’s AppChain service. Collaboration in this way is crucial in boosting the decentralization and performance of dedicated blockchain ecosystems simultaneously.” – Josh Neuroth, Ankr’s Head of Product What Does the Collaboration Entail? Together, Luga nodes and Ank...

Join Our Telegram channel to stay up to date on breaking news coverage Recently, a new annual Independent Reserve Cryptocurrency Index (IRCI) survey was conducted in Singapore, polling around 1,500 local residents on their stance in regard to cryptocurrency assets. The survey was conducted in February 2023; the results were published yesterday, March 28th. One of the most interesting findings is that Singaporean women are slightly more likely to make money from cryptocurrency investment or at the very least, break even than their male counterparts. How many Singaporeans 🇸🇬 do you think own #crypto? We surveyed over 1,500 Singaporeans about crypto, see our survey results in the thread below. 👇 🧵 1/7 — Independent Reserve (@indepreserve) March 29, 2023 The results of the survey The survey , conducted by the crypto exchange Independent Reserve, noted that 76% of women reported either profiting or breaking even. Their male c...

FatMan, a well-known figure from the Terra Research Forum, expressed disappointment in Changpeng Zhao, the CEO of Binance, following allegations of secret in-house trading by the US Commodity Futures Trading Commission (CFTC). Very dark day for crypto. You can call it naivety, but I've long considered CZ to be an upstanding and trustworthy ambassador of the space. Learning that Binance had secret in-house trading accounts & access to proprietary client data is disheartening and jarring. — FatMan (@FatManTerra) March 27, 2023 “A very dark day for crypto,” FatMan wrote, adding that he “considered Binance CEO to be an upstanding and trustworthy ambassador” of the crypto space. However, learning that the exchange had secret in-house trading accounts and access to proprietary client data “is disheartening and jarring.” However, in response to the allegations, the Binance CEO said the exchange does not trade for profit or manipulate the market under any circums...

NFTs have established a formidable sector in the cryptocurrency industry, forming a major aspect of the entire crypto market capitalization. According to the aggregation platform, Cryptorank, the NFT market is worth $2.9 billion by market capitalization. Some NFT blockchains are distinguished to be among the leading solutions enabling the growth of the NFT industry. They include Ethereum, Solana, Polygon, and a few others, as described below. Ethereum Ethereum is arguably the largest altcoin in current existence and also the most versatile blockchain platform. It is the blockchain that supports NFTs the most, and to date, the most NFT trade volume resides on the Ethereum network. Ethereum’s market capitalization is over $215 billion, with a monthly trading volume of $319.5 billion. Ethereum is primarily known as the platform for other cryptocurrencies and also as a platform for executing smart contracts. Polygon Polygon is a layer 2 scaling solution that enables...

The total crypto market cap has stalled at the $1.2 trillion level, but derivatives data shows bulls are preparing for the next breakout. After gaining 11% between March 16 and March 18, the total crypto market capitalization has been battling resistance at the $1.2 trillion level. This same level was reached on August 14, 2022 and was followed by a 19.7% decline to $960 billion over the next two weeks. During the lateralization period between March 20 and March 27, Bitcoin (BTC) gained 0.3%, while Ether (ETH) posted modest gains of 1.6%. Total crypto market cap in USD, 12-hour. Source: TradingView One source of favorable short-term momentum is a change in the Federal Reserve’s monetary policy The U.S. Federal Reserve was forced to increase its balance sheet by $393 billion between March 9 and March 23 in order to provide short-term loans to failing banks. The objective of the plan was to reduce inflation, which has significantly impacted the cost of living and ultimately hampered ec...

Despite being touted as the possible panacea, decentralized finance (defi) still faces obstacles which greatly diminish the prospects of mainstream adoption, asserts serial entrepreneur and CEO of Radix DLT, Piers Ridyard. Ridyard added that while defi is seen as “a fantastic proof of concept,” widespread adoption of this alternative to traditional finance is only possible when the developer and user experience is improved. Developer Incentives and Mass Adoption of Defi Besides improving developer and user experience, the Radix CEO told Bitcoin.com News that the provision of ongoing and sustainable support to developers ensures “you [don’t] end up with a ghost chain.” Ridyard, a YC Alumni, also shared thoughts on how defi and Web3’s scaling woes can be overcome. Ridyard further discussed Coinbase’s attempt to bolster developers with its recently launched layer 2 (L2) blockchain and why this is unlikely to result in the envisaged mass adopti...

ETH worth over $101 million had been returned to the lending protocol as of March 25. The exploiter still controls part of the stolen assets. The hacker behind the $196 million exploit on lending protocol Euler Finance has returned the majority of the stolen assets, according to on-chain data.  In a transaction on March 25, the exploit er return ed 51,000 Ether (ETH) worth around $88 million at the time of writing. A second transfer of 7,737 ETH was made on the same day, worth over $13 million. Previously, on March 18, the hacker sent 3,000 ETH to the protocol, worth nearly $5.4 million at the time. The exploit er still controls some of the stole n assets. the euler exploiter has returned 51k ETH ($90m) https://t.co/RooIjugGsd — ekin (@eking0x) March 25, 2023 On March 13, the hacker carried out multiple transactions stealing nearly $196 million from the protocol in a flash loan attack, dubbed the largest DeFi hack of 2023 so far. Stolen assets include 8.8 million DAI, 849,000 ...

Join Our Telegram channel to stay up to date on breaking news coverage        Crypto exchange Binance temporarily halted spot trading earlier on Friday due to issues impacting its trading platform. What : Binance temporarily suspended spot trading on its platform on March 24. Why : The crypto exchange said bugs affected its spot trading functionalities. What Nex t: Trading resumed at 2PM UTC with withdrawals expected to resume shortly after. Binance, the world’s largest crypto exchange by trading volume, temporarily suspended spot trading on Friday due to issues affecting its platform. Binance acknowledged the problem in a tweet soon after the issues were discovered: Initial Analysis indicates matching engine encountered a bug on a trailing stop order (a weird one). Recovering. Est 30-120 min ish. Waiting for more precise ETA. Deposits & withdrawals are paused as a SOP (standard operating procedure). Funds are #SAFU. 🙏 https://t...

Litecoin was one of Thursday’s biggest gainers, as prices rose by as much as 13% in today’s session. This came despite the global crypto market cap shifting lower, down 1.65% as of writing. Dogecoin was also higher, as the meme coin rebounded from Wednesday’s losses. Litecoin (LTC) Litecoin (LTC) has been one of Thursday’s biggest gainers, as prices rose by as much as 13% in today’s session. LTC/USD raced to an intraday high of $91.70 in today’s session, a day after falling to a low of $79.95. As a result of the move, LTC climbed to its strongest point since March 3, when the token reached a peak of $95.49. LTC/USD – Daily Chart Overall, the move has pushed the 10-day (red) moving average closer to an upwards crossover with the 25-day (blue) moving average. Although some will be anticipating a cross, there appears to be a hurdle in place, which comes in the form of a ceiling on the relative strength index (RSI). At the time of wri...

Arbitrum’s upcoming ARB token has everyone excited about the next potential airdrop, and it looks like there’s more to come. Arbitrum developers announced an Airdrop of its governance token , ARB, to eligible users and DAOs on the Ethereum Layer-2 platform. An average user received around 625 ARB token s, which corresponds to around $625 to $1,250, according to pre-launch trading prices and popular estimations. The prospect of earning free money has instilled excitement around users looking to hunt the next airdrop opportunity. The airdrop farming activity also benefits the protocols by attracting liquidity and usage to the platform. The strategy is working well for both protocol developers and users. Moreover, the team's sale of a protocol’s token invokes securities laws, inducing significant legal risk for the developing teams. Thus, it is reasonable to assume that future protocols will use the same strategy to decentralize their protocols. Here are five potential airdrop opport...

Join Our Telegram channel to stay up to date on breaking news coverage MrFish Vlogs 2.0 reviewed a project that improves the entire voting system Love Hate Inu and its native coin LHINU which is on presale now. As the market for meme coins continues to expand, Love Hate Inu offers an attractive opportunity for profit. MrFish Vlogs Love Hate Inu Presale Review Participants must first purchase LHINU, the Love Hate Inu‘s native cryptocurrency, in order to engage in the activities offered on the platform. Presale is necessary since money needs to be raised before the platform can develop. The project’s whitepaper claims that 90% of the 100 billion tokens that will be made will be accessible to be bought during the presale stage. This way, investors won’t have to worry about being scammed. Hey #LoveHateInu champs!👋 Awesome update – we have raised over $1.3M!🤑💰 Huge shoutout to our amazing supporters!🙌🚀 Join us no...

Join Our Telegram channel to stay up to date on breaking news coverage The Ripple price prediction continues to battle with the $0.80 level after being supported by the 9-day and 21-day moving averages. Ripple Prediction Statistics Data: Ripple price now – $0.39 Ripple market cap – $20.1 billion Ripple circulating supply – 50.95 billion Ripple total supply – 99.9 billion Ripple Coinmarketcap ranking – #6 XRP/USD Market Key Levels: Resistance levels: $0.43, $0.45, $0.47 Support levels: $0.34, $0.32, $0.30 XRPUSD – Daily Chart At the time of writing, XRP/USD is seen trading at $0.39 above the 9-day and 21-day moving averages. Since the past few weeks, the Ripple price has been moving sideways as it continues to struggle to cross above the upper boundary of the channel. However, the attempt to push the coin to the upside shows that the bulls are battling to step back into the market. Ripple Price Prediction: Would Ripple (XRP) Head ...