Category: Altcoin News

Bitcoin ended May down 8.0% – its worth month since November. Galaxy Digital CEO Michael Novogratz is still bullish on BTC. He explained why this morning on CNBC’s “Squawk Box”. Bitcoin just had its worst month since late last year but Michael Novogratz – the Chief Executive of Galaxy Digital is keeping optimistic on the cryptocurrency. Novogratz shares his view on Bitcoin Novogratz attributed the recent weakness in BTC to a lack of participation from large-scale buyers or the institutional investors. But the billionaire investor talked of two recent developments…

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The MakerDAO community has voted to ditch Pax Dollar (USDP) stablecoin worth $500 million from its reserves. Maker’s treasury holds roughly half of the USDP’s $1 billion supply. New York state regulators in February forced Paxos to halt minting Binance USD (BUSD) stablecoin. The decentralized finance (DeFi) lending protocol MakerDAO’s community has voted to drop the $500 million worth of USDP stablecoin from its reserves. This is a major blow to the Pax Dollar (USDP) stablecoin since the lending protocol held half of the USDP token supply. In total, there…

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Phoenix, AZ, June 1st, 2023, Chainwire Devour, a pioneering restaurant engagement technology company, is thrilled to announce its strategic partnership with AlterVerse, an innovative force in the gaming industry. The collaboration aims to revolutionize the restaurant and gaming experience by expanding DevourGO, Devour’s web3 enabled guest engagement platform, to the upcoming release of AlterVerse’s Sky City gaming Metaverse. DevourGO has emerged as a prominent player in token-gating food ordering experiences. It is gaining swift recognition for its innovative approach, which allows users to unlock these experiences by utilizing their digital…

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The deal will see Sui roll out a series of digital experiences for racing fans. At press time, the SUI token was trading at $0.9587, down 1.07%. Oracle Red Bull Racing has made several crypto partnerships recently including with Bybit. Sui Blockchain, whose mainnet was launched at the beginning of May 2023 has today sealed a multiyear partnership deal with Formula One’s Oracle Red Bull Racing team. The deal makes Sui the blockchain partner of the Oracle Red Bull Racing team. Sui’s parent company Mysten Labs is a renowned company…

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Ethereum gas fee tanked all the way down to under $5 in May. BlackRock CEO Larry Fink reiterates dedollarisation as a real risk. Ethereum is currently down more than 10% versus its YTD high. Ethereum gas fee declined by close to 70% in just under a month, data from Santiment – an on-chain data provider confirmed on Thursday. Ethereum gas fee is back under $5 Interestingly, that said fee was seen at a year-to-date high of $14 per transaction in early May. By the end of the month, though, it…

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Key Takeaways Bitcoin mining stocks have traded with significantly more volatility than Bitcoin itself Mining stocks have underperformed, as rising energy costs and increased competition has cut into profits Miners also overleveraged during the pandemic, purchasing new equipment with debt and holding onto Bitcoin stashes as prices fell Fees on the network rose with the Ordinals protocol and thus provided miners relief, but have since fallen back to normal levels Anyone remotely interested in the cryptocurrency world will attest to the fact that Bitcoin is incredibly volatile. At one point…

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