Internet of Things (IoT) blockchain network Helium could transition to the Solana blockchain following a new HIP 70 governance proposal launched on Aug. 30. The Helium core developers said the need to “improve operational efficiency and scalability” was required in order to bring “significant economies of scale” to the network. The Helium network operates by users installing a Helium Hotspot to provide decentralized wireless 5G network coverage for internet users in their area. Helium uses a unique consensus mechanism — proof-of-coverage to verify network connectivity and distribute HNT tokens to Helium Hotspot providers when coverage is verified. The proposal comes …

The decentralized application industry pushed above $40 billion in smart contract deposits in February 2021, and currently the figure stands at $59 billion. To date, “real money” continues to flow into the sector, and on Aug. 29, gaming startup Limit Break raised $200 million. The project gained popularity after the successful launch of its DigiDaigaku free-mint NFT collection. According to a report by Dove Metrics and Messari, the crypto industry saw $30.3 billion in funds raised in H1 2022. This amount surpassed the $30.2 billion seen in 2021. Excluding the $10.2 billion in funding raised for the centralized finance sector …

Bitcoin (BTC) price continues to struggle at $20,000 and repeat dips under this level have led some analysts to project deeper downside in the short-term. Earlier in the week, independent market analyst Philip Swift tweeted that the Crypto Fear and Greed Index had dropped back to back to “Extreme Fear,” reflecting softening sentiment among investors. The market is not enjoying $BTC hanging around $20k. Back into Extreme Fear today. Live chart: https://t.co/Jr5151zN7I pic.twitter.com/UnztrZP7FP — Philip Swift (@PositiveCrypto) August 31, 2022 On Aug 29, analytics firm Delphi Digital highlighted Bitcoin open interest hitting a new record-high and said: “The Futures Open …

Bitcoin (BTC) price has been trying to change course while the S&P 500 is still giving up gains on a daily basis. Even though the United States equities markets have been grinding lower since Aug. 26, Bitcoin has managed to hold on to the $20,000 mark. However, investor interest seems to be shifting away from Bitcoin. That has led to a reduction in assets under management (AUM) for Bitcoin investment products, which dropped 7.16% in August to $17.4 billion, according to a new report by CryptoCompare. In comparison, the AUM for Ethereum (ETH) products increased 2.36% to $6.81 billion during …

Avalanche (AVAX) bulls snubbed the sensational claims made by a self-proclaimed whistleblower website that the project's parent firm, Ava Labs, paid lawyers to damage its competitors' reputation. Avalanche price recovers from serious allegations AVAX's price established an intraday high of $19.75 on Aug. 30, two days after bottoming out locally at $17.50, amounting to a 15% rise. The token's modest recovery followed selloffs incurred by a sensational CryptoLeaks report. ️ #Avalanche is the top rising topic in #crypto following a claim that its #blockchain was attempting to manipulate regulatory systems. After hitting a 7-week low about 9 hours ago, $AVAX …

For nearly a year now, a mysterious Axie Infinity wallet has been quietly amassing billions of Smooth Love Potion (SLP), the in-game cryptocurrency powering one of the industry’s most popular play-to-earn (P2E) crypto games. Today, the anonymous whale wallet now holds a little over 22 billion SLP — more than 50% the total circulating supply of the token. The problem? No one knows who it belongs to and what their intentions are. The wallet in question was brought to Cointelegraph’s attention by Axie Infinity player and tech co-founder Michael Benko, who first caught wind of this mysterious wallet on Aug. …

Decentralized lending platform Compound has been plagued by a code bug in a recent governance proposal to update its price feeds. The code error has “temporarily frozen” the Compound ETH (cETH) market, causing cETH transactions to revert, but Compound Labs stated that despite the front end not working, “funds are not immediately at risk.” Compound Labs announced on Aug. 31 that the code bug came from Proposal 117: Compound Oracle Upgrade v3, which was implemented a couple of hours ago to update the oracle contracts on the Compound protocol to a new version that uses Uniswap V3 instead of V2 …

Ether (ETH) is the second largest crypto by market capitalization and the absolute leader in decentralized applications by deposits. Becoming a victim of its own success, the network experienced a fee hike in November 2021 when the average transaction costs surpassed $50. That's precisely why the Merge is a critical step to implementing a fully functional scaling solution. The confirmation of a transition to a proof of stake (PoS) consensus was the main driver for the rally toward $2,000 on Aug. 15. Investors were partially excited about the reduced issuing schedule and likely a transition to a deflationary scenario, but …

Interoperability-focused blockchain Flare Network has partnered with software infrastructure firm Lena Instruments to implement a crowdfunding mechanism that lowers the risks associated with startup investing. Lena Instruments announced what it called a “CloudFunding" launchpad that lets Flare investors allocate a percentage of the rewards that they earned into investments to new crypto startups without moving their initial investments. Apart from providing a low-risk investing solution for its contributors, the platform also aims to help projects that have launched on the platform have regular cash flows during the reward distribution periods. Hugo Philion, the CEO of Flare Network, believes that the …

Binance marked its presence among the Middle East investors by running various licensed operations in Abu Dhabi, Dubai and other regions. Targeting efforts in United Arab Emirate's (UAE) mainstream corporate sector, Binance partnered with business lender Virtuzone, allowing new entrepreneurs to repay loans using cryptocurrencies. Virtuzone joins the list of mainstream businesses in the UAE, such as JA Resorts and Hotels and Majid Al Futtaim, to officially accept cryptocurrencies after integrating Binance Pay into its payment gateway. In addition, by providing businesses the option to repay seed and other forms of funding through cryptocurrencies, the company intends to reduce barriers …

The United States equities markets are attempting to stabilize after the carnage on Aug. 26. On similar lines, Bitcoin (BTC) is also witnessing a see-saw battle near the psychological level of $20,000 with both the bulls and the bears vying for supremacy. Although several analysts are bearish on Bitcoin in the near term, it has not stopped the whales from accumulating at lower levels. Data from on-chain research firm Santiment shows that the number of whale addresses holding between 100 to 10,000 Bitcoin has risen by 103 in the past 30 days. In bear markets, rumors spread fast and could …

Bitcoin (BTC) regained some lost ground at the Aug. 29 Wall Street open amid talk of an imminent short squeeze. Shorts lose out in modest squeeze higher for BTC Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing to near $20,400 on Bitstamp as United States equities began trading. The move signaled welcome relief for hodlers, who had looked on as the pair dove increasingly below $20,000 during the weekend. Now, with the market “aggressively short positioned,” conditions appeared to favor a further relief bounce to burn those nursing short trades. Looks like we're doing a little bearbecue. https://t.co/smRfCWC2C0 …