Author: Crypto Insider

Tether Holdings, the company behind the world’s largest stablecoin, Tether, reported a record net profit of $4.52 billion in the first quarter of 2024. Tether also revealed its net equity for the first time, which stands at $11.37 billion as of March 31. This represents a significant increase from the $7.01 billion worth of equity…

EigenLayer — the largest Ethereum restaking protocol — has received over 12,412 withdrawal requests following widespread disappointment surrounding its planned EIGEN airdrop. Mass withdrawal requests started on April 29, when EigenLayer saw over 4,336 daily withdrawals, rising to 6,496 on April 30, according to Dune data. The restaking protocol amassed over 12,412 withdrawals in the past three…

Bitcoin’s market share has dipped slightly, leading crypto analysts to speculate that it may have reached its peak as traders shift their focus to altcoins. “Bitcoin dominance has likely peaked,” founder of trading firm MNTrading Michaël van de Poppe claimed in a May 1 X post while explaining that “the bottom for altcoins is likely in.” “Altcoins start…

Bitcoin miners show no signs of “capitulation” despite their revenue falling to 14-month lows following the halving event in April. In an April 30 post to X, CryptoQuant CEO Ki Young Ju said that following a drop in revenue to levels post having, Bitcoin miners now face two options, capitulation or await growth in the price of Bitcoin…

Emerging Ethereum restaking protocol Karak’s total value locked (TVL) rose over 25% in the past week to over $440 million, and industry experts believe it could start eating into EigenLayer’s market share. Following the disappointment around the EigenLayer airdrop, Karak has a “good chance” of become the next big restaking protocol, according to Anndy Lian,…

Ethereum co-founder Vitalik Buterin has discussed a new cryptographic proving system that aims to achieve greater efficiency for zero-knowledge proofs. In a blog post on April 29, Buterin explained a system for highly efficient cryptographic proofs over binary fields called “Binius,” which aims to deliver significant performance gains over traditional proof systems such as zk-SNARKs. Binius aims…