Posted in Crypto News

A report by CNBC on Wednesday indicates that US banks would allow crypto trading to customers, New Digital Investment Group will partner with Fidelity National Information Services to make this possible.

Most banks in the US have already shown interest, the company also added it’ll get the Big Banks on the trend too.

The banks are being influenced by the massive revenue gotten from Robinhood and Coinbase platform.

Posted in Crypto News

Dr. Fabian Schär wrote in a paper published by the Federal Reserve Bank of St Louis on May 2 about decentralized finance and Ethereum’s impact on it.

He applauded Defi in its efficiency in using “smart contracts to create protocols that replicate existing financial services in a more open, interoperable, and transparent way.”

Dr. Schär also explained that Defi will lead to a better and transparent financial system.

Posted in Crypto News

The DeFi platform of PancakeSwap (CAKE) has reached a new milestone in terms of daily transaction count.

At the time of writing, PancakeSwap has handled 1,733.484 transactions in the last 24-hour period.

The DeFi platform has also experienced a 24-hour trade volume of $1.7 billion with approximately $9.86 Billion in total value locked.

This amount has exceeded Ethereum’s at 1.427 million in the same time period.

Posted in Crypto News

S&P Dow Jones Indices launched three cryptocurrency indexes on Monday, for Bitcoin, Ether, and a combination of both with the tickers SPBTC, SPETH, and SPCMC.

This is the first S&P Crypto index.

The announcement came from data from the partner firm Lukka.

S&P’s crypto indexes are set to normalize bitcoin and ether data among Wall Street traders who are very interested in crypto price action.

It also uses Lukka Prime’s methodology for Pricing.

Posted in Crypto News

More Investors are getting into Ethereum products. Institutional investment managers bought $30.2 million worth of Ethereum products last week which brought the total institutional holdings to $13.9 billion.

Total institutional funds that flowed into ETH products in a month was a total of $170 million, and $824 million flowed into it a year.

And the Investment Managers now hold a combined $13 9 billion worth of ETH.

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Bitcoin Miners already started signaling Taproot upgrade which is already in progress. Taproot signaling now reflects about 44% of the total Bitcoin hashing power.

AntPool and F2P00I which arc the two largest Bitcoin mining pools by hash rate are among the first supporters of the Taproot activation in the mining arena.

Other pools in support are Foundry USA and Slush Pool, with the latter responsible for mining the first signaling block.

Posted in Crypto News

Residents of Argentina turn towards Crypto as a hedge against inflation. In the words of Maximiliano Hinz, Latin American director of Binance: “The number of user accounts for investing in cryptocurrencies has multiplied by ten in Argentina since 2020.”

In the past, Argentinians invested in fiat, that is the U.S. dollars in order to combat inflation, but that option is no longer Preferred as Cryptocurrencies have become an obvious solution.

Posted in Crypto News

Cryptocurrency exchange Gemini supports dogecoin by allowing its clients in all 50 U.S. states access to trade and holds dogecoin, this will first kick off on Gemini’s API and active trader applications for USD.

Reports say Dogecoin might see more professional and institutional traders going all-in into the meme coin.

According to CoinGecko, dogecoin has seen over 20,000% profit since its launch date and is currently priced at around S0.50 with a $66 billion market cap.

Posted in Crypto News

Research conducted by Mastercard to check ‘Consumer Appetite for Digital Payments Takes Off’ among 15,000 respondents across 18 countries revealed that 40% of ten people plan to use cryptocurrency for payments within the next year.

67% of the respondents agreed they are now more open to using cryptocurrency than before while 77% want to learn more about crypto.

However, 75% said they would use digital assets if they are easier to understand.

Posted in Crypto News

Mogo fintech company which is also traded on Nasdaq bought about 146 ETH worth $405,880 at an average price of $2,780 according to their recent announcement.

This is part of its initial plan to invest up to 5% of its cash and investment portfolio into digital assets.

Mogo had purchased about 18 bitcoins in open-market transactions at an average price of $33,083.

Ethereum, the second-largest cryptocurrency by market cap hit a price milestone above $3000.