Blockchain News

Crypto markets rebounded mildly early on Friday after the sell-off triggered by the anxiety surrounding Ethereum's Merge planned for August, abated. Overall crypto market capitalization has increased by 1 percent in the past 24 hours to $1.21 trillion.

Diverging from the positive trends in European stock markets and the Wall Street Futures, cryptocurrencies are trading more than 5 percent lower on an overnight basis. Ethereum recorded a sharp fall in prices after a disruption in a block reorganization cast doubts on the ability of the blockchain to transition from a proof-of-work mode to proof-of-stake mechanism.

Cryptocurrencies are trading in a tight band early on Wednesday amidst an anxious wait to the minutes of the Federal Open Markets Committee meeting held in the first week of May.

The European Central Bank, in its report "Decrypting financial stability risks in crypto-asset markets" released on Tuesday has warned of the financial stability risks stemming from crypto assets.

Cryptocurrencies rose modestly early on Monday amidst persisting Dollar weakness and gains in equity markets. Crypto market capitalization increased more than 1 percent overnight to $1.30 trillion whereas the Dollar Index, which measures the strength of the Dollar against a basket of six currencies, dropped by less than a percent, to 102.3.

Cryptocurrencies leaped on Friday tracking the broad-based recovery in the global stock markets. Equities rose as a cut in the Loan Prime Rate by China bolstered hopes of a quick economic recovery. Overall crypto market capitalization increased to $1.30 trillion, versus $1.25 trillion early on Thursday.

Blockchain intelligence firm TRM Labs has teamed up with crypto industry leaders, including financial technology firm Circle, Solana Foundation, The Aave Companies, enterprise-grade public ledger Hedera, Crypto exchange Binance.US, Opensea and Civic, to launch a new multi-chain community-driven scam reporting platform called "Chainabuse."

It indeed has been an extremely bearish trajectory for global financial markets, ever since inflation reared its ugly head and central banks worldwide responded by transitioning to a not-so-accommodative monetary policy stance. It has been particularly painful for cryptocurrencies, that tumbled for both macro-economic and industry-specific reasons.

Luxury car maker Mercedes-Benz has become the first car maker to join the Aura Blockchain Consortium as its fifth founding member, with the other four members being fashion brands. The consortium was founded by LVMH, Prada Group and Cartier, part of Richemont, in April 2021, with OTB Group joining in October 2021, and launched Aura SaaS, a game-changing cloud-based SaaS solution.

Crypto market capitalization increased in the past 24 hours as markets attempted to move in tandem with the global rally in stock markets, especially the tech stocks.