Blockchain & crypto news from India
BlackRock and Fidelity have seen a significant increase in total ETF inflows this year, with a notable contribution from their Bitcoin exchange-traded funds (ETFs). Specifically, BlackRock’s Bitcoin ETFs have accounted for 26% of the year-to-date inflows for the company, while Fidelity’s Bitcoin ETFs have contributed to 56% of their total ETF inflows. BlackRock’s iShares Bitcoin…
On October 27, TokenFi, a multichain token, was introduced as the newest addition to the Floki ecosystem, garnering significant attention within the cryptocurrency community. This unique token is now open for trading on Uniswap and PancakeSwap, prominent decentralized exchanges, providing a seamless entry point for investors. Notably, TokenFi’s presence spans across both the Ethereum and…
During the initial months of 2024, Bitcoin miners in the United States incurred a substantial expense of $2.7 billion solely on electricity. As per Paul Hoffman, an analyst at Best Brokers, the cumulative electric power utilized for Bitcoin mining in the U.S. amounted to 20,822.62 gigawatt hours (GWh) since the commencement of 2024. Energy consumption…
Since the beginning of April, the cryptocurrency market has seen a surge in new token creation, with over one million new tokens coming into existence. Ethereum alone has welcomed over 370,000 new tokens, while Solana has seen the launch of more than 640,000 new tokens, predominantly memecoins. During this period, the Ethereum network has introduced 372,642…
Over the course of the last week, Solana, an innovative blockchain platform designed to offer rapid, secure, and cost-effective transactions for decentralized applications (dApps), has experienced a significant surge in activity. Notably, Solana’s transaction volume has been escalating at a rapid pace, positioning it to potentially overtake Ethereum in terms of transaction fees within the…
Chainlink has recently announced that its Cross-Chain Interoperability Protocol (CCIP) is now generally available to the public. The protocol is designed to foster more cross-chain connectivity by allowing developers to use CCIP for cross-chain token transfers and arbitrary smart contract messaging across different blockchain networks. This means that developers can now easily transfer tokens between…
The launch of spot Bitcoin exchange-traded funds (ETFs) in the United States was a highly-anticipated event in the world of cryptocurrency. Following their introduction, many investors were eager to see how these ETFs would perform in the market. However, replicating the success of these ETFs has proved to be a challenge, as Hong Kong’s new…
On April 25, Bitcoin’s value fell below $62,000 as a result of the release of “stagflationary” macro data in the United States. This data caused market unrest, and when Wall Street opened, investors were greeted with troubled sentiment. The US Q1 gross domestic product (GDP) came in significantly lower than expected at 1.6%, which added…
As per a report from The Economic Times, Binance, a leading cryptocurrency exchange, is poised to re-enter the Indian market after a four-month hiatus. The exchange had been banned from offering its services in the country due to non-compliance with local laws. However, Binance is now set to return to India by paying a $2-million…
According to a research report published on April 15, the South Korean won has emerged as the world’s most-traded fiat currency against cryptocurrencies in the first quarter of 2024. The report reveals that the won accounted for a whopping $456 billion worth of trading volume on centralized crypto exchanges, surpassing the trading volume of $455…