Author: Cryptoclaps

Ulbricht Sentenced to Two Life Terms in Prison the modern Silk Road marketplace. It was indeed a darknet market that existed for a while. There is a distinction to be made, however, between the historical Silk Road and the modern Silk Road marketplace. The historical Silk Road refers to a vast network of trade routes that existed for over 1,500 years, from the 2nd century BCE to the mid-15th century. It facilitated trade and cultural exchange between civilizations in China, Europe, the Middle East, and India. The modern Silk Road marketplace, on the other hand, was an online black market…

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A potential green light for Ethereum ETFs? VanEck’s ETF tied to Ethereum (ETH) has been listed by the DTCC, a key player in processing stock trades. This listing with the ticker symbol “ETHV” is a significant step forward, but final approval still rests with the U.S. Securities and Exchange Commission (SEC). The DTCC’s involvement suggests progress for VanEck’s ETF as it handles essential tasks like finalizing trades and ensuring smooth transactions. While the DTCC listing is encouraging news for VanEck’s ETF, it’s important to temper expectations. The “inactive” status on the website clarifies that this is a preparatory step. Investors…

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Despite a near year-long increase, the global network of Bitcoin ATMs hit a snag in May. This setback comes after a period of steady growth that started in mid-2023. The decline is primarily due to the US, the world’s leader in Bitcoin ATMs, taking over 300 machines out of service. US Bitcoin ATM Numbers Decline Sharply Bitcoin ATM decline in May 2024: After a period of growth, there was a global dip in Bitcoin ATMs in May, according to Coin ATM Radar. The total number dropped from 37,902 to 37,621. The United States, the leading market, was the main culprit…

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there was a significant amount of money, $932 million to be exact, invested in digital assets for the second week in a row. This surge in investment happened right after a report came out on Wednesday showing that inflation wasn’t as bad as people expected. The report is called the Consumer Price Index, or CPI for short. Nearly all (89%) of the investment happened in the last three days of the week, which suggests a link between Bitcoin’s price and expectations about interest rates. Even though there was more investment this week, trading activity was still low at $10.5 billion…

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Telegram’s founder, Pavel Durov, scored a big win thanks to Notcoin! This popular clicker game, built on Telegram, saw over half a million players chip in with a generous donation. Shorter and punchier: The players’ gift ballooned to millions, and Durov’s holding onto it, betting on a 100x price jump. More explanation: Appreciative players saw the value of their in-game donations to Durov soar into the millions. He’s chosen to hold onto these tokens, hoping their value will increase by 100 times. Over Notcoin 552,000 Players Donate to Durov That’s interesting! It seems like a significant portion of Notcoin players…

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A platform called OrdinalsBot created the biggest Bitcoin inscription ever, containing the document “A Declaration of Independence in Cyberspace.” This inscription, numbered 70,614,708, is massive (around 4 MB) because it includes a high-resolution image of the document, making it readable directly on the blockchain. Brian Laughlan, co-founder of OrdinalsBot, clarifies that the massive size of the inscription (around 4 MB) isn’t due to the document itself being lengthy. Instead, it’s because they included a high-resolution image of the “A Declaration of Independence in Cyberspace” document. This image size was intentionally inflated to secure the top spot for the largest inscription…

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The price of Bitcoin continued to slide this week, failing to recapture its previous highs. After dipping below its 2021 peak of $69,044, Bitcoin is currently priced around $67,957, according to CoinGecko. This is a significant drop from its all-time high of $73,737 reached last month. Bitcoin’s price continues its downward trend, dropping almost 3% this week. This decline is possibly linked to investment firm Grayscale selling a large amount of crypto. They started the week with a $300 million redemption and continued selling at a daily average of $80 million. However, crypto experts at Decrypt believe the worst of…

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The Ethereum layer-2 network, Blast, created by the founder of the popular NFT marketplace Blur, officially launched on Thursday. This long-awaited event allowed users to access billions of dollars in crypto funds that they had previously locked up in anticipation of earning rewards through staking and participating in airdrops. Blast, along with its bridge and rewards program, was first announced in November. By launch day, over $2.3 billion worth of crypto had been deposited into the bridge from the Ethereum mainnet, highlighting the significant interest in the new network. The amount locked in Blast grew rapidly in the days leading…

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Demand for the recently approved spot  Bitcoin  exchange-traded funds (ETFs) doesn’t appear to be going anywhere: Last week alone, investors plugged $2.45 billion into crypto funds—a new record, according to CoinShares.  A Jersey digital asset management firm’s recent report revealed a significant jump in assets under management, reaching a record high of $67 billion. This marks the firm’s strongest performance since December 2021, coinciding with a bullish period in the cryptocurrency market. CoinShares, an expert in tracking institutional investor activ ty in crypto, released a report highlighting major players like Grayscale, 21Shares, and ProShares. These companies offer investment solutions catered towards large…

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Bitcoin ETFs Finally Arrive in the US: A Recap The long wait is over! After years of hopeful proposals and rejections, the US finally approved the first batch of 10 spot Bitcoin ETFs in January 2024. These ETFs make it easier for investors to gain exposure to Bitcoin without directly dealing with cryptocurrency exchanges and wallets. Why was a Bitcoin ETF such a big deal? For years, entering the crypto market was considered complex and risky for many, requiring special knowledge and technology. A Bitcoin ETF removes these barriers by allowing traditional investors to trade Bitcoin through familiar stock exchanges.…

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