Matic, xDAI (STAKE) and Loopring (LRC) rally as Ethereum gas fees rise

The start of a new month has brought renewed fervor from the cryptocurrency market as Bitcoin (BTC) price steadily climbed from a low of $43,537 on Feb. 28 to a high of $49,200 during today’s early trading hours.  As traders get excited about positive moves in the market and look to re-enter positions, the increasing use of DeFi continues to drive fees on the Ethereum (ETH) network higher, shining the spotlight on the top layer-2 (L2) protocols that offer working solutions. Three protocols that have emerged as top L2 contenders…

Compound Will Support New Assets Via Parity Substrate

The DeFi news category was brought to you by Ampleforth, our preferred DeFi partner Share this article DeFi protocol Compound Finance announced today that it is developing a blockchain called “Gateway,” which will make use of Parity’s Substrate platform to add support for new assets. Support for More Assets Compound’s announcement explains that Gateway (which is designed to move crypto assets across various blockchains) will make use of Parity’s Substrate (a blockchain development platform). Until now, Compound has only offered support for ETH and Ethereum-based ERC-20 tokens. However, the development…

Key Bitcoin price indicators signal bulls bought the $43K restest

Bitcoin’s (BTC) severe 26% drop from its $58,300 all-time high on Feb. 20 injected a bit of bearishness into the market but from a technical perspective, this was purely psychological as the digital asset held the $43,000 support with ease. This downside move caused indicators like the Crypto Fear & Greed Index to hit 38, its lowest level in five months. Bitcoin price in USD at Coinbase. Source: TradingView Even though a $15,400 downside move might seem unusual, 25% and even larger corrections have happened on six separate occasions during…

‘Play by the rules or we will shut you down,’ says NY AG to crypto industry

New York Attorney General Letitia James is advising members of the crypto industry and investors to stay vigilant against participating in or becoming a victim of illegal activities.  According to the New York Attorney General’s office, James issued an alert to crypto investors today warning them to exercise “extreme caution when investing in virtual currencies.” She referred to cryptocurrencies as “high-risk, unstable investments that could result in devastating losses.” James’ message included a warning to industry players that the AG would come down hard on firms skirting the law. She…

China’s Inner Mongolia Cracks Down on Bitcoin Mining

Key Takeaways China’s Inner Mongolia will end Bitcoin mining before April ends. The region aims to reduce energy usage and help China meet its carbon goals by banning the energy-intensive practice. The ban could be detrimental to the region itself, but the decision could also decentralize the mining industry. Share this article China’s Inner Mongolia region will suspend Bitcoin mining before the end of April, according to the government’s new energy saving plan. Inner Mongolia to End Mining China is currently the most active country for Bitcoin mining, controlling 65%…

It’s Crunch Time For Ongoing Bitcoin Parabola

Bitcoin price has now had one of its largest pullbacks dollar for dollar in history, putting the entire parabolic uptrend in jeopardy, according to one crypto analyst who has warned the top could be near. The analyst, who has been accurate in the past, claims that it is now “crunch time” for the parabola to prove its strength, or risk the start of a violent breakdown. “Crunch Time” For Bitcoin Parabola, As Uptrend Support Line Is Tested An asset that “goes parabolic” is a rare event, occurring when price action…

Users haven’t mined Ether using a PlayStation 5 yet

While users might still be able to adapt some gaming consoles for mining cryptocurrency, evidence suggests that recent reports of a modified PlayStation 5 mining Ether (ETH) are fake. According to a report from news outlet GizChina, Chinese software developer Yifan Gu mined Ether using a PlayStation 5. The report claimed that the developer may have overclocked the PS5’s AMD Ryzen CPU and AMD Radeon GPU cards to achieve a mining hash rate of 98.76 megahertz per second, and a screenshot from Gu showed the seemingly modified hardware required 211 watts…

Dogecoin Struggles to Resume Uptrend Despite Renewal

Key Takeaways Developers have released Dogecoin Core 1.14.3, which includes significant performance improvements.  The news has been welcomed by the community, as the number of DOGE-related posts in social media surged over the past 24 hours. Regardless, the meme coin sits below a crucial resistance barrier while its active address count shrinks. Share this article Dogecoin has entered the spotlight once again as developers have released a new protocol upgrade. However, DOGE sits beneath a supply barrier that may prevent prices from rising.  Preparing Dogecoin for Mass Adoption The developers…