Reported volume of top South Korean crypto exchanges surpasses that of the country’s stock market

The volume of transactions in the South Korean digital currency market briefly exceeded the daily average transaction amount of the country’s stock market on Sunday. According to data from CoinMarketCap, the combined 24-hour volume of major South Korea-based crypto exchanges UPbit, Bithumb, Coinone, and Korbit was more than $14.6 billion on Sunday. On Friday, the same metric was roughly $14.5 billion on the Korea Composite Stock Price Index, or KOSPI, and $10 billion on the Korean Securities Dealers Automated Quotations, or KOSDAQ. The increase in volume came as the price…

Elon Musk’s latest canine-themed tweet didn’t pump Dogecoin as much as SHIB

Though the price of Dogecoin (DOGE) surged over the weekend to surpass $0.06 again, this time another token based on a cuddly canine benefited from the hype around Elon Musk’s social media posts. In a Saturday night tweet, the Tesla CEO said he would be getting a Shiba Inu dog for his household. The dog — whose breed is native to Japan — was at the center of the popular meme on which Dogecoin was based in 2013. The meme features the dog looking into the camera with a seemingly…

Personal Tokens Crash as Roll Suffers Nearly $6M Hack

Key Takeaways Social money platform Rally has been compromised, costing users millions. The attacker was able to sell off various personal tokens built using Rally’s service. The Rally team has yet to make a formal announcement regarding the hack. Share this article Following a major breach of social money platform Roll, many popular personal tokens built on top of the platform have crashed. Personal Tokens See Red Creators can use Roll to create personal tokens for their community to raise funds for personal projects. Several crypto-specific influencers like Kerman Kohli…

Preemption of inconsistent state laws

In these hyper-partisan times, any bill that includes sponsors from both sides of the aisle is noteworthy. There is one pending now that is particularly important in the crypto space. On March 8, 2021, H.R. 1628, the Token Taxonomy Act of 2021, was introduced by representative Warren Davidson. It was co-sponsored by representatives Ted Budd, Darren Soto, Scott Perry and Josh Gottheimer. Terms of the Token Taxonomy Act of 2021 Among other provisions, the bill would exempt “digital tokens” from the definition of security, and it would also preempt inconsistent…

Bitcoin price dips below $60K — But here’s why a bigger rally may be brewing

Bitcoin (BTC) pared some gains, dipping below $60,000 on March 14, a day after setting a new all-time high of $61,950 on Binance. However, on-chain data indicates that the uptrend is likely to continue in the near term. One key metric that is signaling an optimistic short-term trend for Bitcoin is the rise in stablecoin deposits into exchanges. Although high funding rates and an overcrowded market are causing the price to pull back, the entrance of sidelined capital into the crypto market may further boost Bitcoin’s momentum. Why Bitcoin dropped after…

The superheated NFTs? A crypto market niche tipped to boom or bust

In a whirlwind seven-day period, which began with Twitter founder Jack Dorsey proving that almost anything can be tokenized — even his old tweets — and culminated on Thursday with a Christie’s art auction that brought a mind-boggling $69.3 million bid for a tokenized Beeple work — fetching more at an auction than pieces by George Seurat, Paul Gaugain or Salvador Dalí — some observers were asking: Are nonfungible tokens spiraling out of control? Even before the storied auction house catapulted artist Mike Winkelmann, aka Beeple, into the rarified company…

From hot to cold, here are the options

After another jump in the price of major cryptocurrencies at the end of 2020, crypto enthusiasts began to mine, sell and buy currencies with renewed vigor — which means that nowadays, the topic of custodying cryptocurrencies is more relevant than ever. But unlike the past bullish waves, this time many users are also concerned with how to protect their assets. The blockchain industry is developing, and traders have become noticeably smarter, but scammers and thieves have also become much more agile. This is also indicated by the period appearance of…

The role of decentralized networks in a data-abundant, hyperconnected world

When it comes to computer data storage, it can seem like we are running out of numbers. If you are old enough, you may remember when diskette storage was measured in kilobytes in the 1980s. If you are a little younger, you are probably more familiar with the thumb drives denominated in gigabytes or hard drives that hold terabytes today. Humanity’s unfathomable data footprint But we are now producing data at an unprecedented rate. As a result, we are going to need to be able to grasp numbers so large…

Why Bitcoin Price Could Accelerate To $65K, Dips Likely To Be Limited

Bitcoin price is gaining momentum and it broke the $60,000 resistance against the US Dollar. BTC is showing positive signs and it could continue to rise towards $65,000. Bitcoin rallied above the $60,000 level and traded to a new all-time high near $61,800. The price is now trading nicely above $60,000 and the 100 simple moving average (4-hours). There is a key bullish trend line forming with support near $58,500 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair could correct lower, but dips are…