What Ethereum killer? On-chain data shows competitor networks are still behind

Ether (ETH) remains the second-largest cryptocurrency and it absolutely dominates the smart contract industry according to an array of network usage metrics. Even though the network has been overwhelmed by peak activity which is causing median fees to surpass $10, the network effect of its large user and developer base seems to be enough to sustain its position as the second ranked cryptocurrency by market capitalization. Nevertheless, some key on-chain metrics are beginning to show a potential change in Etheruem’s supremacy, which raises the age old question of whether an…

Basketball billionaires form NBA blockchain use case committee

Blockchain tech may soon become an integral part of the world’s largest basketball league.  According to a report from Sportico yesterday, a group of some of the wealthiest and most powerful National Basketball Association team owners are forming a committee to investigate blockchain use cases for the NBA. Called the Blockchain Advisory Subcommittee, members include Mark Cuban, Joe Tsai, Ted Leonsis, Steve Pagliuca, Vivek Ranadive and Ryan Sweeney. According to Sportico, the goal of the subcommittee is to “explore ways to integrate blockchain across the league’s business.” Two obvious possible…

Apple Pay integration and Staking 3.0 launch push COTI price to a new high

As big-name payment processors like Visa and Mastercard increasingly integrate blockchain technology into their payment rails, decentralized platforms offering the best solutions to issues like scalability and fast transaction times are gaining traction.  COTI is one such platform that has been gaining momentum in recent weeks after a series of network upgrades and big announcements brought extra attention to the enterprise-grade fintech platform. According to COTI’s website, the protocol focuses on empowering organizations to create their own payment solutions and digitize any form of currency as a way to save…

Finance Minister predicts “very calibrated” stance

Yet another “crypto ban” turns out to be temporary FUD. In an interview with CNBC this morning, Indian Finance Minister Nirmala Sitharaman said that reports of a blanket ban on cryptocurrencies are overstated. While negotiations are ongoing, she said she expects the end result to be more tempered: “Yes, a lot of negotiations, discussions are happening, with Reserve Bank,” said Sitharaman. “Obviously the Reserve Bank will be taking a quorum on how, what kind of unofficial currency, cryptocurrency will have to be planned, and how it has to be regulated.…

Ethereum fees are skyrocketing — But traders have alternatives

With the rapid growth of decentralized finance, upcoming scaling developments on Ethereum 2.0, and increased crypto allocation in the portfolios of institutions, the price of Ether (ETH) is rapidly ascending. In fact, we’ve already seen ETH break the $2,000 barrier for the first time, marking a brand-new all-time high. All this action may be bullish for ETH holders and DeFi investors, but for smaller DApp developers and other users on the network — such as traders using ERC-20-based stablecoins — it’s quickly pricing them out. That’s because the cost of…

Bitcoin traders worry as BTC price remains pinned below $50K

The price of Bitcoin (BTC) has failed to break above the psychological $50,000 resistance going into the weekend and has dropped below the $48,000 level on March 6.  BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview Now traders are watching whether BTC/USD can break above the $50,000 level to resume the bull cycle. Conversely, a drop below the recent lows below $46,000 will likely open the door to new lower lows, which may then pose a threat to the bull run that has been in place for almost a year, at…

Dev says $31 million Meerkat Finance exploit was a ‘test’; will return funds

There may be good news on the horizon for the victims of one of DeFi’s largest-ever exploits.  At 5:30 AM UTC today, a Meerkat Finance developer identifying themselves as “Jamboo” posted a short message in a newly-created Telegram channel, “Meerkatrefunds.” In it, Jamboo said that the exploit was a “trial” testing users’ greed and “subjectivity,” and that the team was preparing to refund all victims. Jamboo provided proof of their association with Meerkat by sending a small transaction from the Meerkat deployer, demonstrating that they have access to the exploited…

Stellar XLM Edges Closer to a 35% Price Movement

Stellar’s price action suggests that volatility is about to strike back. Stellar Primed for Volatility XLM’s market value dropped by 50% after reaching a new yearly high of $0.61 on Feb. 13. The downswing seems to have been fueled by a market-wide correction that caused over $6.5 billion in liquidations. While some altcoins managed to recover the losses incurred, Stellar entered a stagnation period. The twelfth-largest cryptocurrency by market capitalization has been consolidating over the past two weeks, making a series of lower highs and higher lows along the way. When drawing…