EOS and YFI lead altcoins higher as Bitcoin and Ether bounce from swing lows

The markets were mixed on May 11 as Bitcoin (BTC) recovered from Monday’s drop to $53,000 by bouncing to $56,862 but the digital asset is still finding resistance at the $57,000 level. Ether (ETH) also worked its way back above $4,100 but according to Cointelegraph analyst Marcel Pechman, the bullish sentiment for Ether seen in recent weeks has begun to fade as traders question whether new all-time highs will be sustainable in the short term. Data from Cointelegraph Markets and TradingView shows that Bitcoin bulls defended a late-night sell-off on May 10…

Doge Statue Stares Down Wall Street’s Charging Bull

Key Takeaways A Shiba Inu statue has been placed in front of Wall Street’s famous Charging Bull statue as a challenge to traditional finance. The statue was placed on May 8 by its owner. Dogecoin creator Billy Markus drew further attention to the statue today. Despite Dogecoin’s rapid rise in value over the past year, some fear that the coin’s success is not sustainable. Share this article A Shiba Inu statue representing Dogecoin has been placed in front of Wall Street’s famous Charging Bull statue, according to reports. Dogecoin Creator…

Texas house passes crypto-friendly bill, now goes to senate

Members of the Texas House of Representatives have passed a bill which aims to recognize cryptocurrencies under commercial law in the state. In a session of the 87th Texas Legislature today, lawmakers passed a proposed amendment to the state’s Uniform Commercial Code, or UCC, aimed at better adapting commercial law to blockchain innovation and digital asset regulations. First introduced by Representative Tan Parker in March, House Bill 4474 will reportedly help define cryptocurrencies in the UCC.  The bill will now go to the Texas Senate for any proposed amendments and potentially a final vote.…

Balancer protocol launches version 2 of its automated market maker

Balancer, a leading automated market maker, has launched version 2 of its protocol, promising faster speed, lower costs and improved liquidity.  In addition to revamping the user interface, Balancer’s backend will provide more efficient routing for trades through “Protocol Vault.” The platform claims that this upgrade will reduce gas costs and produce better pricing mechanisms. Expected gas costs are said to be 40% lower in version 2 – a figure that jumps to 53% with internal balances. Balancer Labs, the development arm behind the AMM, also announced a partnership with…

Dogelon Mars, Shiba Inu and Dogecoin take the lead as Bitcoin consolidates

Cryptocurrency traders awoke to an altcoin bonanza as a handful of meme tokens, along with some of the more established projects, staged double-digit rallies while Bitcoin (BTC) price slowly recovers to the $57,000 level.  The biggest event generating conversations across the crypto sector and social media is the rise of dog-themed tokens inspired by the recent mega rally from Dogecoin (DOGE). The more than 20,000% rally from DOGE has shocked value investors across the world and many Bitcoin maximalist and equities traders are scratching their heads in confusion, given that…

Tesla May Accept Dogecoin, Judging By Twitter Poll

Key Takeaways Tesla CEO Elon Musk has asked his Twitter followers if Tesla should accept Dogecoin (DOGE) as payment. Approximately 80% of respondents are in favor of the option. Musk has not yet confirmed whether Tesla officially plans to accept the coin; more details may emerge when the poll ends. Share this article Tesla CEO Elon Musk has asked his Twitter followers if they want to see the firm accept Dogecoin, implying the electric vehicle company may soon add the cryptocurrency as a payment option. Almost 80% In Favor of…

Coinbase overtakes TikTok for #1 position on Apple app store

Major cryptocurrency exchange Coinbase’s mobile app now tops the charts for the U.S. Apple App Store. According to the Top Charts list on the Apple App Store, Coinbase is currently the most popular app in the United States, ahead of TikTok, YouTube, Facebook, Instagram, and trading app Robinhood. Cash App, which allows users to send money and buy Bitcoin (BTC), sits in the #12 position at the time of publication, while Binance’s and Trust’s apps are at #16 and #17, respectively.  Coinbase’s app had been near the top of Apple’s…

Bullish sentiment begins to fade after Ethereum all-time high at $4,200

The last couple of weeks have been nothing short of astonishing for Ether (ETH), as the cryptocurrency hiked over 80% to reach a $4,200 all-time high. Even after a 7% correction, the gains accumulated in 2021 surpass 300%, and Ether currently holds a market capitalization that exceeds $450 billion. In the face of such a mind-blowing performance, neither the futures contracts premium nor the options fear and greed indicator signal extreme optimism in the market. This data will likely lead some analysts to question whether traders are losing confidence in…

Israel’s central bank floats possible digital shekel with new action plan

The Bank of Israel is accelerating its research for the potential issuance of a central bank digital currency. In a statement from the central bank today, the Bank of Israel said it was preparing an action plan to explore the benefits of a digital shekel on the economy. Though the bank said it had not yet decided whether to issue a central bank digital currency, or CBDC, it added it would be prepared to do so should the benefits “outweigh the costs and potential risks.” The central bank said it…