Why did Bitcoin drop? Analysts point to 5 potential reasons

    Bitcoin’s price fell approximately 8% in a span of 10 minutes, leaving crypto investors scrambling to make sense of the drop. Elon Musk’s SpaceX reportedly selling its Bitcoin holdings, the bankruptcy of a Chinese property giant, and fears of interest rate hikes have been among the theories raised as to Bitcoin’s freak price dip. On Aug. 18 around…

    Abu Dhabi grants virtual asset firm M2 permission to offer crypto services

    The M2 platform will launch later in 2023, allowing UAE-based retail and institutional clients to buy, sell and custody digital assets. The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) has granted financial services permission to virtual asset firm M2 to operate a multilateral trading facility from the United Arab Emirates…

    SHIB, BONE, LEASH tokens dip amid rumors of $2.5M Shibarium gaffe

    Shiba Inu and related-token prices plunged since Shibarium’s launch, while rumors of a significant technical error in the new Shibarium network have been swirling. The launch of the Shibarium mainnet — a layer 2 scaling solution for the Ethereum network — appears to have gotten off to a rocky start, at least when it comes to the…

    Illuvium’s collapsing token represents the problems with GameFi

    GameFi developers have been focused on raking in money — and they’ve forgotten that they need to make games fun in order to win over players. Blockchain games began as a means to effectively test technology’s true potential. However, making sure they reach that potential remains a challenge. While Illuvium was one of the most highly anticipated…

    Sei token valued at $1.8B after beta launch, exchange listings

    Layer 1 trading blockchain Sei Network has reached a fully diluted valuation of $1.8 billion on the initial day of token listing. On Aug. 15, major exchanges such as Binance, Bybit and Bitget jointly listed the network’s native Sei (SEI) token. On Binance, the token opened at $0.064 a piece before surging as high as…

    Bitcoin vs. gold: Are market cap and other comparisons actually relevant for investors?

    Bitcoin’s future price surge and mainstream adoption could happen independently of institutional adoption of the digital currency. The connection between Bitcoin and gold goes back to Bitcoin’s origin. While it is not mentioned in the Bitcoin white paper, Satoshi Nakamoto actually referred to gold’s rarity in a Bitcointalk forum post when introducing the first version…