Crypto Adventure

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,175 trillion. Bitcoin has increased by over 6% this week. Ethereum gained almost 17% over the past seven days. XRP is up by nearly 3% this past week. Almost all altcoins are trading in the green, with very few exceptions. The DeFi sector increased the total value protocols (TVL) to around $44 billion. Crypto…

The DAO website for sanctioned crypto mixer Tornado Cash appears to no longer be operational. According to social media reports, this is also true for the platform’s Discord server. DAO Website Stops Going Through Earlier this week, the United States Treasury Department’s Office of Foreign Asset Control imposed a sanction on the Ethereum-based protocol. Since then, the platform has seen some of its resources become inaccessible. Additionally, various entities have begun distancing themselves from Tornado Cash’s services. Hence, the platform’s…

Axie Infinity (AXS) has announced that its play-to-earn (P2E) platform will no longer offer token rewards on its classic game mode. The development team hopes its decision will help nudge users to its new game mode. Players will now have to use the newly launched Origin update to earn the game’s native currency, Smooth Love Potion (SLP). AXS to Balance SLP Economy Origin is the latest expansion in the Axie Infinity gaming ecosystem also known as Axie Battles v3. The…

The Bitcoin payments company Strike has partnered with Visa to integrate a ‘Visa card’ into its wallet app. This will allow Strike users to pay for goods and services in Bitcoin with any Visa-accepting merchant.  In a tweet on Thursday, Strike revealed its new Visa card, which it called the “Strike Card.” “You can now take Strike anywhere and earn rewards on everyday spending,” explained the company. The card rewards users with incentives for every purchase and charges no added…

Earlier this week, Netherlands’ financial watchdog the Fiscal Information and Investigation Service (FIOD) took a 29-year-old developer into custody. The FIOD carried out the arrest in Amsterdam due to suspicions of his involvement in money laundering operations using crypto mixer Tornado Cash. Tornado Cash Facilitating Crypto Crimes The arrest comes shortly after the US Department of Treasury announced sanctions against the privacy protocol. In a release, the Treasury cited Tornado Cash’s role in various crypto crimes since its inception in…

Harsh economic restrictions in Argentina have pushed the country’s football clubs towards cryptocurrencies. Recently, the first transfer of a football player via crypto instead of fiat occurred, marking a new era in football finances. Earlier this month, Sao Paulo Futebol Clube from Brazil paid $6-$8 million worth of USDC to Banfield’s Athletic Club for midfielder Giuliano Galoppo. The oscillating gap reflects the tempestuous value fluctuations between the US Dollar and the Argentinean Peso. The First Football Cryptocurrency Signing Galoppo's transfer…

Iceberg orders allow traders to buy or sell a large quantity of cryptocurrency without tipping off the market. By splitting their orders into smaller chunks, traders can execute their trades without causing undue price movement.  This guide will explain what iceberg orders are and how to use them in your trading strategy. What Is an Iceberg Order in Crypto Trading? An iceberg order lets traders buy or sell a large number of assets without revealing their intentions to the market.…

Bitcoin Improvement Proposals (BIPs) are essential tools in the crypto community. They allow the Bitcoin community to propose and vote on changes to the Bitcoin Core software.  BIPs can also work for other wallets/services and have a process for development and implementation. This guide will explore what BIPs are, how they work, and some of their benefits and risks. What are Bitcoin Improvement Proposals (BIPs)? Bitcoin Improvement Proposals (BIPs) are proposals for changes to the Bitcoin protocol. Anyone can submit…

On Thursday, MakerDAO co-founder Rune Christensen shared a proposal via the network’s official Discord server. Christensen raised the suggestion that the MakerDAO organization should swap its $3.5B  worth of USDC for Ether. However, Ethereum creator Vitalik Buterin tagged Christensen’s plan a “terrible idea” despite the potential benefits of such a move on Ethereum’s value.  Christensen To Remove USDC Exposure Rune’s actual goal is to eliminate MakerDAO’s exposure to USDC following the US Treasury’s recent sanction on crypto mixer Tornado Cash.…

Ethereum developers have established tentative, official scheduling for the merge on September 15th. On that day, the network’s consensus mechanism will change from proof of work to proof of stake.  The date was established on Thursday during an Ethereum Foundation Consensus Layer Call. Developers agreed to target either September 15th or September 16th with the upgrade. However, the timing remains an estimate, and devs stressed that the official date is not finalized yet. On Thursday, developer Tim Beiko tweeted the…