Daily Crypto News

  1. Crypto lender Hodlnaut halts withdrawals, ends token swap feature — Singapore-based crypto lender Hodlnaut freezed withdrawals as well as ended its token swapping feature on Monday, just as the market is showing signs of recovery from the so-called crypto winter.
  2. Why crypto remains niche and far from the mainstream — Cryptocurrency continues to capture the imagination of proponents and make headlines on an almost daily basis. But in many respects, it remains an immature industry with relatively few use cases. The main struggle right now is adoption, especially during a bear market — in terms of raising overall awareness and encouraging more people to actually utilize both cryptocurrencies and blockchain technology in everyday life.
  3. Bitcoin, Ethereum gain amid broad crypto rally; Polkadot jumps — Bitcoin and Ethereum led broad gains among the top 10 cryptocurrencies by market capitalization on Tuesday morning in Asia. Bitcoin touched US$24,203 at one point overnight, its highest since July 31. Ethereum rallied to US$1,806, its highest since early June.
  4. Bitcoin Reclaims $24,000; AVAX And XLM Soar After Robinhood Listing — Cryptocurrencies saw a broad uptrend on lighter volume over the past 24 hours. Trading was somewhat lighter at 26 billion compared to 30 billion the last time the coin hit the $24,000 mark in July, according to Coinmarketcap. Ethereum and other altcoins are also trading higher over the last 24 hours, indicating that the reversal from July’s lows may be sustained if coins find key support levels and if volume gains some strength.
  5. Optimism and Arbitrum Storm DeFi Rankings As TVL Rises — Arbitrum and Optimism now rank as the fourth and sixth-largest smart contract chains respectively, according to data from L2beat.
  6. Why Do We Need Ethereum PoW When We Have Ethereum Classic? — “I’m not expecting EthereumPOW to have substantial, long-term adoption,” Buterin said at a press conference at ETH Seoul, part of the current Blockchain Megaweek in South Korea. “A couple of outsiders that have exchanges just want to make a quick buck. I just don’t see this organic aspect to it.”
  7. Justin Sun Says Proof-of-Work ‘Essential’ Part of Ethereum—Always controversial, Tron founder Justin Sun said he thinks the proof-of-work way of operating is an “essential” component of Ethereum — just as the Ethereum community readies to transition to a different, proof-of-stake, system after a multi-year effort. Many billions of dollars are at stake.
  8. The Ethereum Merge Is the Main Contributor to July Rebound: JPMorgan —JPMorgan analyst Ken Worthington said anticipation of the Ethereum Merge was a sizable force behind the big July move higher in ether (ETH) specifically, and crypto in general
  9. North Korea has laundered $1 billion in crypto via Tornado Cash — and the US Treasury just slammed the platform with sanctions — The US Treasury sanctioned Tornado Cash, a cryptocurrency platform used by criminals for obscuring origins of funds. As of Monday, all US entities or persons are barred from using Tornado Cash. North Korea cyber-criminals have laundered $1 billion in crypto through this platform, TRM Labs said.

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