The proof-of-work (PoW) consensus model is the mechanism that kicked off the revolution that launched Bitcoin (BTC) in 2009 and it was the model of choice behind many of the popular projects in the early fledgling years of the crypto ecosystem. As time progressed, other consensus models like proof-of-stake (PoS) rose in popularity, especially as the cost of running mining rigs, the constant need to update equipment and environmental concerns led to the PoW model falling out of favor with many. As a result, projects looking to employ a proof-of-work model have had to adapt to stay aligned with the …

Dogecoin (DOGE) is potentially at risk of losing critical support if the price falls from the ascending channel traded in for the last 53 days. Although technical analysis is not an exact science, a daily close below $0.26 will likely invalidate the current movement. Aside from the Bitcoin-driven headwinds, which are weighing on DOGE price, this week, the meme token underwent a software upgrade and users were requested to implement version 1.14.5. Two important security patches were involved: "Remote Code Execution in Dogecoin QT" (CVE-2021-3401) and "Sensitive Information Exposure on Unix platforms" (CVE-2019-15947). The latest release finalized a new minimum …

Bitcoin (BTC) price continues to weaken following the shakeout of the leveraged traders in the derivatives markets on Nov. 10. This caused the derivative funding rates to drop to the neutral territory of 0.01% across exchanges. Data analysis firm Arcane Research said in its latest weekly newsletter that the derivatives markets had matured compared to the run to the previous all-time high in April. The firm highlighted that the futures’ basis, the difference between Bitcoin’s spot price and futures price, which was at elevated levels in April have dropped much lower, “indicating a healthier market.” According to Bloomberg senior ETF …

When crypto traders win big, they often take to Twitter to share the joy. They tend to do the same for sharing painful stories of getting wrecked, discussing promising new assets, or sharing insight and predictions on which projects can become the next big thing. Sometimes these waves of social attention can even create positive feedback loops whereby the tokens that command the chatter see their prices soar precisely for that reason. The volume of tweets referencing a particular asset can indicate a lot of different things. This month, the five tokens that saw the greatest month-to-month increases in daily …

Issuers of stablecoins like Tether (USDT) and USD Coin (USDC) may soon be required to work under the same regulations as banks, but that seemingly doesn’t frighten the CEO of the USDC-issuer Circle. Commenting on the Biden administration’s proposal to work on a bank-like regulation for stablecoin issuers, Circle CEO Jeremy Allaire took a supportive stance for the recommendation. He highlighted that proposal’s aim to regulate dollar stablecoin issuers in the United States financial system as banks at the federal level by the Federal Reserve represents significant progress for the industry’s growth. Allaire noted the current steps would upgrade the …

Tether (USDT) has gone from being a renegade cryptocurrency to becoming the industry's primary crutch during the last seven years, according to a new report. Essentially, USDT is a bridge between traditional currencies like the U.S. dollar and decentralized digital currencies operating on open blockchain networks. Independent crypto outlet Protos provided an in-depth insight into the most common stablecoin and the liquidity providers who supply it to cryptocurrency platforms. According to the report, issued USDT is primarily acquired by just two market makers. Between 2014 and October 2021, Alameda Research and Cumberland received a projected $60.3 billion in USDT, accounting …

Bitcoin (BTC) dipped below $64,000 on Nov. 12 as its comedown from new all-time highs continued to unnerve. BTC: Consolidation becomes down move Data from Cointelegraph Markets Pro and TradingView captured fluid market conditions on Friday, with BTC/USD acting in a $2,000 range. The pair had spent the previous day tracing sideways, behavior which was now showing signs of breaking down. For popular analysts, however, such BTC price action was not only expected, but welcomed. Sideways :) — Willy Woo (@woonomic) November 12, 2021 "A drop to 59-61k followed by some consolidation would be the best way to continue the …

The price of OMG Network (OMG) has plunged 33% from a daily high of $19.35 down to around $13 immediately after completion of the snapshot for an airdrop from the Boba Network. The snapshot of all wallets holding OMG tokens on the Ethereum network and the layer-two Boba Network took place at 12am UTC on Friday. OMG holders at the time of the snapshot will receive BOBA, the governance token for BobaDAO on Nov. 19. Boba is an Optimistic Rollup layer-two solution that helps to scale Ethereum smart contracts, built by the Enya team as core contributors to the OMG …

“I’m in it for the tech,” is a phrase commonly used in the cryptocurrency ecosystem by many who want to express a deeper motivation for being involved with blockchain technology beyond the significant gains that are known to happen in the volatile asset class. One project that has quietly climbed the charts without the need to jump on the decentralized finance (DeFi) or nonfungible token (NFT) trend is Vectorspace AI (VXV), a protocol building correlation matrix datasets capable of detecting hidden relationships in data and training artificial intelligence (AI) systems. Data from Cointelegraph Markets Pro and TradingView shows that since …

Ether (ETH) bulls seem excited with the recent $4,870 all-time high that was hit on Nov. 10. While it was a new high in USD, ETH price is still 51% below June 2017’s price in Bitcoin (BTC) terms but it’s entirely possible that the 0.155 BTC level reached in the previous cycle reflected the overzealous expectations that were rampant during the initial coin offer (ICO) frenzy. The Ethereum network’s own success caused congestion and high fees, bringing the competition closer. For example, in mid-2017, the leading “competitors” would have been Ethereum Classic (ETC) and NEM (XEM) and combined, those represented …

One under the radar cryptocurrency-powered payment app that's been gaining traction across Latin America is Reserve. The platform acts as a convenient way for people to convert their local currencies, which may be undergoing high inflation levels, to the United States Dollar via the Reserve stablecoin (RSV). The network also features the Reserve Rights token (RSR), which is used for protocol governance. Since its launch in March 2021, the platform says it has seen 367,000 total signups. Meanwhile the number of weekly active users has surpassed 100,000, with most located in Argentina, Venezuela, and Colombia. In the past 30 days, …

In our latest in-depth video, Cointelegraph shares six key tips on how to increase your safety when investing in DeFi by identifying rug pulls — One of the most widespread types of crypto scams. Booming growth coupled with a lack of oversight by traditional authorities has attracted an influx of fraudsters to the DeFi ecosystem. According to a recent report by Ciphertrace, while overall fraudulent activity in crypto is decreasing, rug pull scams in DeFi have been on the rise in 2021. In the typical rug pull, bad actors create a worthless token and list it on a decentralized exchange, …