DeFi News Official TheBitTimes.com

As the West continues to crack down on the crypto industry, Hong Kong is moving forward with its plans to become a regional hub for crypto . This week, at the Hong Kong Web3 Festival, government officials confirmed the city’s crypto promises. This is because Hong Kong wants to become a fully regulated crypto hub that attracts investors and Web3 startups. On April 12, Financial Secretary Paul Chan Mo-po said again that having the right rules and supervision was the most important thing. “I believe that everybody has learned from recent events that appropriate regulations are a must to create a sustainable development environment and a more ideal space for development.” Regulate DeFi in Hong Kong The Hong Kong Securities and Futures Commission (SFC) also wants to control decentralised finance, according to sources. The agency thinks that DeFi platforms will have to get a licence, which means that they won’t really be DeFi. The head of the SFC...

Aug 27, 2023 at 09:19 // Price Author Coin Idol Cryptocurrency analysts of Coinidol.com report, XRP price is moving again after the downtrend ended on August 17. XRP price long-term forecast: fluctuating On August 17, the cryptocurrency price regained the support level of $0.50. XRP was trading between $0.48 and $0.56 last week. The price movement was subdued above the $0.50 support. The cryptocurrency rose to a high of $0.55 on August 20, but was rejected. The altcoin has risen above the current support level. The presence of the doji candlesticks ha...

This week's Crypto Biz explores the latest on Binance's global on-ramps and off-ramps, Coinbase-Circle re -alignment , Shopify's take on USDC and China's blockchain data exchange. Global regulatory landscapes are once again proving to be a turning point for crypto companies, demanding constant adaptation to navigate shallow regulatory waters across the world, particularly in the United States. In the latest developments, Coinbase and Circle decided to dissolve the Centre Consortium in a strategic realignment driven by demand for regulatory clarity on stablecoins, possibly as an anticipation of upcoming legislation coming from the U.S. Congress. A legal alternative to remaining operational was also sought by Binance.US this week. The exchange announced a partnership with MoonPay featuring the dollar-pegged stablecoin Tether (USDT) as its new “base asset” for all transactions, allowing a path for users to transact in U.S. dollars while possibly sidestepping potential re...

Santiment tweeted today that the number of active addresses for BTC, ETH, and USDT has risen. The intelligence firm noted that BTC, ETH, LTC, USDT, and MATIC have twice as many active addresses as any other asset. Technical indicators for ETH and BTC suggested that the market leaders’ prices may soon rise above key resistance levels. The blockchain intelligence firm Santiment revealed in a tweet this morning that Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) recorded the highest level of address activity. This recent uptick in address activity could be an early indication of substantial price movements in the near future. The top 10 assets by highest level of address activity: 1 @Bitcoin $BTC 2 @ethereum $ETH (#BinanceChain) 3 @Tether_to $USDT 4 @0xPolygon $MATIC 5 @litecoin $LTC 6 @Tether_to (#Polygon) 7 @worldcoin $WLD 8 #BinanceUSD $BUSD 9 @bitcoincashorg $BCH 10 @Tether_to (#Ethereum) pic.twitter.com/k3NPHLGVVv — Santiment (@santimentfeed) Augus...

Civ Kit author Ray Youssef argued that Ethereum is stopping rapid Bitcoin adoption. According to him, BRICS nations will form the biggest P2P Bitcoin markets. Vitalik Buterin is not a fan of Drivechain, highlighted by BTC expert Pierre Rochard. On August 23, Built With Bitcoin Foundation’s founder Ray Youssef tweeted that Ethereum is the biggest challenge when it comes to Bitcoin adoption. According to Youssef, the negatives of ETH outweigh the similarities in utility. ETH has been the biggest block against Bitcoin adoption. At first I saw utility we could copy but the negatives far out weigh any positives. #civkit will replicate what is needed on ultra sound honest money and leave the rest for the scammers. Nuf said https://t.co/4YIvOX3nAF — Ray Youssef (@raycivkit) August 23, 2023 Youssef moves on to praise Civ Kit, which he believes will “replicate what is needed on ultra sound honest money,” while leaving fraudulent components for t...

Tech billionaire Elon Musk has said that his social media platform X (formerly known as Twitter) is a Dogecoin (DOGE)-friendly place. As a result of Musk’s comment, DOGE’s price briefly rallied by 3.25%, reaching $0.064 earlier today. JUST IN: Elon Musk says X (Twitter) is a $DOGE friendly place. — Watcher.Guru (@WatcherGuru) August 23, 2023 Musk’s tweet has already gotten investors riled up, as they usually do. 25.69 million DOGE were purchased within just one minute of Musk’s tweet. Also Read: Dogecoin, Bitcoin, Binance Among Popular Hashtags on Crypto TikTok X is a dog & Doge friendly place! — Elon Musk (@elonmusk) August 23, 2023 Musk has been very vocal about his support for DOGE. He had even unveiled plans for a Dogecoin -themed project for his space exploration company, SpaceX. However, Musk’s support for DOGE has also landed him in tight situations. The billionaire was sued by investors who accused him of ins...

Meme coins reflect a higher beta to the entire crypto sector, but does their recent 25% price drop signal a deepening bear market for BTC, ETH and large caps? The recent crypto crash hit meme coins hard, culminating with a 9% drop in total market capitalization from Aug. 14 to Aug. 21. During the same period, Pepe (PEPE), Shiba Inu (SHIB), and ApeCoin (APE) saw a 25% decline. The big question is whether this trend will affect the wider market, signaling a broader bear market or simply reflects lagging performance of meme coins. Total crypto cap (blue) vs. Pepe/USDT (green), Shiba/USDT (red), Apecoin/USDT (orange), August 2023. Source: TradingView Meme coins, like Dogecoin (DOGE), burst onto the scene driven by viral memes and community enthusiasm. However, their appeal faded due to a mix of factors. These coins rely on media hype and online communities for attention, yet they lack value beyond their meme origins. Their speculative nature leads to rapid price changes and volatility. F...

Bitcoin Realized Cap HODL Waves signal that the current bull market launch is a classic repeat of BTC price history. The Bitcoin (BTC) metric that nailed the pit of the 2022 bear market says its uptrend is still intact. In an X post on Aug. 22, creator of on-chain analytics platform LookIntoBitcoin, shared some good news in the form of Bitcoin’s Realized Cap HODL Waves (RHODL). Analyst: "New money" flowing into Bitcoin in 2023 While last week’s 10% BTC price dip has upended some of the on-chain landscape, RHODL is one of the metrics taking a longer-term view of what remains a timely bull market. The metric takes existing HODL Waves data — which groups the BTC supply by when each coin, or specifically UTXO, last moved — and weights it by realized price, i.e. the price at which it last moved. If this sounds complicated, the results have clear implications. “Peaks in younger age bands highlight periods where they have a proportionally higher Realized Value weighting relative to...

A recent filing released by the FBI carries a concise yet potent message: “The Federal Bureau of Investigation gives notice that property listed was seized for federal forfeiture for violation of federal law.” advertisement List of FBI Confiscated Crypto The seized digital assets primarily comprise Ethereum (ETH) tokens, amounting to $800,000. The largest single seizure occurred in the Eastern District of Virginia, where Ether valued at $463,811 were confiscated. This seizure underscores the agency’s resolve and effectiveness in pursuing criminal activities linked to digital assets. Notably, Florida and Virginia had the most crypto assets seized out of all the states in the United States. While ETH was the most seized digital asset, Stablecoins did not escaped the scrutiny of the FBI . Among the notable seizures, DAI, a stablecoin worth $469,000, was confiscated in the Eastern District of Virginia.  Additionally, memecoin often viewed wi...

Bitcoin’s (BTC) price , was quite bearish today and was still below the $30,000 threshold at $26,079.88,   and down by around 1% since yesterday. Other well-known altcoins, Dogecoin (DOGE), Cardano (ADA), Polkadot (DOT), and Solana (SOL), also experienced losses on the other side of the border. advertisement Ethereum is trading at $1,677.7, with almost 1% decrease in the last 24 hours. Among other prominent cryptocurrencies, the XRP coin price observed over 1.68% increase. Solana also faced a reduction, with its price plummeting by 1.37%. On the other hand, Polygon (MATIC), which traded on green lines a few days back, is down by more than 0.24% since the last day.   Polkadot coin price saw a decrease of almost 1% in its price, in one day.  The realm of meme cryptocurrencies tells the same story. In the past 24 hours, Dogecoin’s price witnessed a decrease of around 0.83%, while Shiba Inu’s token price is down by almost 1.3...

DWF Labs Makes Strategic CRV Transfers Yesterday, DWF Labs orchestrated the transfer of 12.49 million CRV tokens, equivalent to approximately $6.25 million, to an address. An additional 2 million CRV s found their way to Binance’s deposit address today. Impressively, DWF Labs retains ownership of 10.49 million CRV s, fueling speculation about potential future actions. advertisement DWF Labs’ robust market-making strategy is underscored by their recent deposit activities on cryptocurrency exchanges, which have consistently triggered notable price fluctuations. CRV token price is now trading at $0.50022056. Of particular interest is DWF Labs’ history of accumulation. On August 1st, they amassed 12.5 million CRV tokens from Curve ’s founder, acquiring them at $0.4 apiece. Their current holdings remain at 10.5 million CRV s, with the potential for further deposits. Also Read: Ripple CTO Unveils Ripple Effect Of SEC’s Unconventional Ap...