Wrapped Bitcoin supply drops to negative after 11,500 token burn
After the second-largest single-day burn of 11,500 Wrapped Bitcoin (wBTC) on February 27, the supply of wrapped Bitcoin (wBTC) fell to its lowest level since May 2021. 11,500 WBTC worth a total of $260 million were burned, resulting in a negative growth rate for the now-defunct crypto lender Celsius. With a monthly growth rate of […]
UAE Emirate to launch free zone for digital, virtual assets
One of the UAE Emirate’s Ras Al Khaimah (RAK) is set to launch a free-trade zone for digital and virtual assets where entrepreneurs have total ownership of their businesses, and different regulatory frameworks and tax schemes. While the nation’s approach to the industry continues to draw in international crypto players, Ras Al Khaimah, one of […]
Social and economic implications of blockchain technology
Blockchain technology is a disruptive technology that is altering the environment at multiple levels, resulting in the creation of a new crypto-economy. This article discusses the implications of blockchain technology on the social and economic environment. What is blockchain technology? Blockchain is a type of digital ledger that keeps track of transactions in a way that […]
MyAlgo warns users to withdraw funds due to unknown hack cause
The Algorand wallet provider stated that it has yet to discover the root of the ALGO exploits that have drained millions of dollars, asking users to remove funds from wallets created with a seed word. MyAlgo, an Algorand network wallet provider, has advised its users to withdraw cash from any wallets created with a seed […]
Ethereum testnet undergoes successful upgrade in Shanghai
The Ethereum network’s Sepolia testnet has successfully updated, mimicking the next hard fork that is slated to take place when Ethereum’s Shanghai upgrade approaches next month. A successful upgrade has been implemented on the Ethereum blockchain’s Sepolia testnet. This upgrade replicates the imminent Shanghai hard fork, which is scheduled to take place on mainnet in […]