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Bitcoin and most altcoins gave back the entirety of their gains shortly after the SEC decided to delay issuing a decision on all of the recently filed spot Bitcoin ETF applications. Bitcoin’s (BTC) volatility has increased over the past few days. The price soared on Aug. 29 after Grayscale scored a victory over the United States Securities and Exchange Commission (SEC). However, the euphoria was short-lived as the price gave back all the recent gains on the news that the SEC delayed the decision on all seven spot Bitcoin exchange-traded fund applications.  News related to Bitcoin ETFs has been the major trigger for the markets in the past few days. Bloomberg ETF analysts remain upbeat over the possibility of the ETFs being approved by the regulator in 2023. In an Aug. 30 post of X (formerly Twitter), Bloomberg senior ETF analyst Eric Balchunas bumped up the approval possibility of a spot Bitcoin ETF from 65% to 75%. Daily cryptocurrency market performance. Source: Coin360 In the near

Num Finance launches nCOP, a Colombian Peso-pegged stablecoin on Polygon, offering users an 8% yield and promising a fresh take on remittances in Latin America. Num Finance, a Latin America-based stablecoin s issuer, has introduced its latest stablecoin , nCOP. This new digital asset, pegged to the Colombian peso, is now live on Polygon.  The company claims nCOP will offer users an 8% yield . Num Finance aims to offer digital financial tools to the people of Latin America for their everyday financial needs. As an overcollateralized stablecoin, nCOP promises stability and heightened security to users, facilitating borderless transactions. The firm claims the new stablecoin will help more people access financial services in the area by offering them an easy way to send and receive remittances.  Additionally, the company has integrated a yield feature into the new nCOP stablecoin, enabling users to earn rewards when they hold the asset. “Colombia presents a unique opportunity to to

Polygon Claims Against zkSync  Polygon protocol came up with Plonky2 and Starky, two Zero-Knowledge (zk) proof systems that are known to be very fast. Both Plonky2 and Starky are necessary for any developer interested in building a ZK L2. advertisement Their development started when the company was only a startup known as Mir at the time. At their completion, their libraries were open-sourced under a permissive MIT/Apache license as part of the company’s plan to be net contributors who have also benefited from the works of others. From there, many developers began to work on and modify Plonky2, and the ecosystem grew.  Recently, it was discovered that Matter Labs, the developers of zkSync , released a proving dubbed Boojum. A significant portion of its code contains source code that is copy-pasted from performance-critical components of the Plonky2 library. The alleged copy-paste was done without referencing the original author or the original work.  Again, Al

Bitcoin has risen above $25,000 and if bulls flip this level into support during the next pullback, it will signal the start of a new up-move to $32,000. After a recovery on March 16, the United States equities markets are again down on March 17. Investors remain concerned about the vulnerability of the banks in the U.S. and Europe. A silver lining for cryptocurrency investors is that Bitcoin (BTC) has remained decoupled with the equities markets and has risen to its highest level since Jan. 12. Galaxy Digital founder and CEO Michael Novogratz said in an interview with CNBC that the US and the globe will face a credit crunch as banks lend less to rebuild capital. He said investors should be long on Bitcoin and crypto because these are the times for which it was created. Daily cryptocurrency market performance. Source: Coin360 Quantitative tightening seems to be giving way to a period of quantitative easing. The banks have already borrowed $150 billion from the Federal Reserve, which i

The US dollar’s rise has put brakes on Bitcoin’s price recovery, but lower levels are likely to attract buyers for BTC and altcoins such as DOGE. The United States dollar index (DXY) has started a strong recovery and its rise is putting pressure on Bitcoin (BTC) and the S&P 500 (SPX) index. The market participants will be keenly watching for any insights on future rate hikes when the Federal Reserve Chairman Jerome Powell speaks before the Economic Club of Washington on Feb. 7. Meanwhile, Bitcoin’s 43% rebound in January has improved sentiment among small investors. Crypto analytics firm Santiment said that the number of Bitcoin addresses holding 0.1 Bitcoin or less soared by 620,000 to hit 39.8 million, the highest level since Nov. 19. Daily cryptocurrency market performance. Source: Coin360 With the sentiment turning positive, traders usually buy the dips as they anticipate the uptrend to continue. However, some analysts believe that the dip buyers will get trapped and Bitcoin m