Layer 2s Are Destroying Crypto

Opinion by: Steven Pu, co-founder of Taraxa The rollup-based layer 2s that are all the rage today are destroying crypto or, more precisely, the very trustless nature of crypto, by rapidly eroding its decentralized trustlessness.  Crypto’s uniqueness comes from its trustlessness, powered by the underlying infrastructure primarily in layer 1s. The only way to be…

Chainlink, Pyth Become Oracle Providers for US Government

The US government announced on Tuesday that it is publishing economic data onchain to boost transparency for government spending. Breaking news COINTELEGRAPH IN YOUR SOCIAL FEED The US government has tapped Chainlink and Pyth, two blockchain oracle providers, to publish economic data onchain. Pyth was selected by the Department of Commerce to be a publisher…

XRP Price Cycle Target Remains $20: Analyst Explains

Key takeaways: XRP’s macro outlook remains bullish, with technical scenarios projecting a cycle top above $20, according to one analyst. XRP’s symmetrical triangle signals a potential bullish breakout targeting $4. XRP’s (XRP) price fell 22% to $2.72 from its multi-year high of $3.66 reached on July 18, before recovering to current levels around $3.  Has…

Ethereum exit queue hits Record $5B ETH, raising Sell Pressure concerns

Ethereum is seeing the largest validator exodus in crypto history, with over 1 million Ether tokens currently waiting to be withdrawn from staking through Ethereum’s proof-of-stake (PoS) network. Ethereum’s exit queue surpassed 1 million Ether (ETH) worth $4.96 billion on Thursday. This marks the amount of Ether set for withdrawal by the network’s validators, who…

El Salvador’s $1B Bitcoin Holdings Bet Hits Polymarket

El Salvador President Nayib Bukele called attention to prediction markets amid increasing bets that the country’s Bitcoin holdings will hit $1 billion by year-end. Bukele took to X on Wednesday to tweet about Kalshi’s prediction market, which shows increasing betting activity on El Salvador’s Bitcoin (BTC) holdings hitting $1 billion by late 2025. “I could…

Crypto Projects Set to Unlock $4.5B in Tokens in September

Crypto projects are set to unlock about $4.5 billion in vested tokens in September, according to data tracker Tokenomist.  Tokenomist data shows that about $1.17 billion will come from cliff unlocks, while $3.36 billion will be released through linear unlocks. About $4.5 billion in tokens will become available to investors, project teams and other stakeholders…

VanEck CEO Predicts Ethereum Will Power Stablecoin Bank Transfers

Jan van Eck, the CEO of investment management firm VanEck, speculated that Ethereum will be the clear “winner” among blockchains as banks prepare for a flood of stablecoins.  During an interview with Fox News Business on Wednesday, van Eck said banks and financial services will have to adopt a blockchain to handle stablecoin transactions, and…

ARK Buys $15.6M of Bitmine (BMNR) Shares

ARK Invest bought $15.6 million shares of ether treasury company Bitmine Immersion Technologies (BMNR) on Wednesday. The St. Petersburg, Florida-based investment manager added a total of 339,113 BMNR shares to three of its exchange-traded funds (ETFs) — Innovation (ARKK), Next Generation Internet (ARKW) and Fintech Innovation (ARKF) — according to an emailed notification. Bitmine shares…

Trump’s Fed Chair Shortlist Includes Some Tied To Crypto

The Trump administration is considering at least 11 candidates to replace Jerome Powell when his term as Federal Reserve chair expires in May. At least three of them have taken positive stances toward crypto. Treasury Secretary Scott Bessent told Fox News on Wednesday that there are 11 “very strong candidates” for Fed chair, which he’ll…

Bitcoin Bounce Fizzles Again: Here’s Why

Key takeaways: Retail traders are aggressively buying BTC price dips in spot and futures markets, but net selling from larger order investors is preventing a robust price recovery. Risk of another liquidation cascade to $105,000 seems less likely, but investor sentiment is misaligned with the trend seen in assorted cumulative volume data cohorts. Bitcoin (BTC)…