Ethereum Financial News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

Legendary martial artist and actor Bruce Lee , who died in 1973, is set to teach martial arts in the metaverse through a tribute event hosted by a social entertainment platform, to celebrate the 50th anniversary of the actor’s passing. 

Nonfungible token-focused blockchain Palm Network is about to become a great deal more accessible to users, with plans to transition into being a customized Polygon blockchain.

The Bank of Italy announced a partnership with the Ethereum scaling team Polygon and crypto infrastructure provider Fireblocks to initiate a pilot program aimed at establishing a regulated platform for "institutional DeFi." 

On-chain analysts have spotted one trend currently unfolding within DeFi, allowing savvy investors to get ahead of other investors. Binance Coin (BNB) and Cardano (ADA) holders have been buying into the new P2E Pomerdoge presale. Is this the next 100X opportunity? Pomerdoge (POMD) Attracts New Buyers The Pomergode presale has been resoundingly successful, especially amongst Binance Coin (BNB) and Cardano (ADA) holders.

Cosmos, a once-pioneering blockchain ecosystem renowned for its groundbreaking concept of interconnected blockchains called "appchains" and its innovative proof-of-stake consensus mechanism, is now facing an uphill battle for survival. 

cryptocurrency markets were majorly trading higher on Thursday after the US Federal Reserve stuck to script with a 25 basis-point rate hike. The Fed as anticipated lifted its benchmark lending rate to a range between 5.25% and 5.5%, with Chair Jerome Powell saying during a press conference that the central bank would let data determine whether to hike again. Bitcoin (BTC) surged 0.67% to $29,429, whereas Ethereum (ETH) was above the 1,850 level. BTC volume in the last 24 hours stood at approximately $12.96 billion, rising 20.32% in the last 24 hours. «After the US Federal Reserve raised its interest rates by 25 basis points, as expected by the market, there was a mild uptick in most cryptocurrencies. Bitcoin, which had previously dipped to a low of US$29,097 on Tuesday, has now shown signs of recovery, surpassing the US$29,400 level,» Edul Patel, Co-founder and CEO at Mudrex, said.

Quantstamp, a blockchain security firm, has been ordered by the U.S. Securities and Exchange Commission (SEC) to return $28 million raised in a 2017 unregistered initial coin offering (ICO). 

In 2018, Ethereum lead developer Fabian Vogelsteller contacted the community for a new standard for smart contracts he created alongside co-founder Vitalik Buterin. Dubbed ERC-20, Vogelsteller, at the time, only wished for input regarding the novel idea. Little did he know that ERC-20 would ignite a wave of initial coin offerings (ICOs) shortly after its inception to become the industry gold standard for issuing tokens on the Ethereum blockchain.

Bitcoin broke below the support of its narrow range on July 24, but the bears have not been able to capitalize on it and start a sharp downward move. This is a positive sign, as it shows a lack of aggressive selling at lower levels. The bulls will have to push and sustain the price back above $31,000 to trap the aggressive bears.

In this week’s newsletter, read about how Reddit onboarded millions into Web3 through its nonfungible token (NFT) avatars, and check out McDonald’s first metaverse experience in The Sandbox. Find out why professional gamers are interested in trying out Web3 games, and why Axie Infinity creator Sky Mavis is partnering with NFT collection CyberKongz to develop a new game. And don’t forget this week’s Nifty News, featuring an NFT image of Ethereum co-founder Vitalik Buterin.

OpenAI's co-founder, Sam Altman, has launched Worldcoin, a financial network that will use biometric verification.

The XRP price has risen by 1.5% in the past 24 hours, climbing to $0.702540 as the cryptocurrency market as a whole barely moves today.

Ethereum (ETH) infrastructure provider Flashbots has raised $60 million in its Series B funding round, signaling a potential resurgence in the crypto bull market. 

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

Ether’s price fell this week, and several data points are beginning to suggest that further downside could be in store. 

Lending app Era Lend on zkSync has been exploited for $3.4 million worth of crypto, according to a July 25 report from blockchain security firm CertiK. The attacker used a “read-only reentrancy attack” to drain the funds, which is a type of attack that interrupts a multi-step process and then causes it to continue after a malicious action has been performed. Specifically, a “read-only” reentrancy is one that does not update the state of a contract.

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

Seychelles-based cryptocurrency derivatives exchange Bitget has seen prolific growth in key metrics through the first half of 2023, driven by the integration of a recently acquired self-custodial wallet service.

Ethereum co-founder Vitalik Butrein published a blog raising concerns on the recently launched Worldcoin human identity verification system.

The Ethereum price has fallen by 1% in the past 24 hours, dropping to $1,851 amid a market-wide slip caused by rate-hike fears.