Cross-chain interoperability provider LayerZero will withdraw off-chain support for 14 low-activity chains, including Arbitrum Nova. In its latest statement, the firm said that its DVN (decentralized verifier network) and Executors, collectively responsible for off-chain communication between different chains, will be deprecated for the 14 chains. The affected networks include Cronos zkEVM, Degen, Skale Europa, Superposition,
The launch comes from Layertwo Labs, founded and led by longtime Bitcoin developer Paul Sztorc, also known as Truthcoin. The play is not to rewrite Bitcoin itself. Instead, ECX will become a separate network that copies Bitcoin’s transaction ledger at designated snapshots and hands most bitcoin holders an equal number of coins on the new
Record Short Liquidations Reshape Bitcoin Outlook Bitcoin’s sharp recovery has raised the possibility that Geoffrey Kendrick’s $100,000 year-end forecast may prove too conservative, the Standard Chartered analyst wrote in research provided directly on Aug. 21. Kendrick is global head of digital assets research at Standard Chartered Bank. He said rising prices had forced traders to
Bets against the two largest cryptocurrencies turned into a costly exit this week. Bitcoin and Ether bears were caught in a squeeze-led rally that brought the strongest crypto market move in months, according to the original report. The rally did not come from one isolated catalyst. Treasury intervention, regulatory developments, and a historic short squeeze
Kiyosaki Calls Treasury Buybacks Money Printing Renewed concern about the dollar prompted Rich Dad Poor Dad author Robert Kiyosaki to endorse scarce assets after characterizing expanded U.S. Treasury debt buybacks as quantitative easing. In an Aug. 22 post on X, he linked the policy change with inflation risks and urged followers to favor bitcoin, gold,
Grayscale Sees Potential Bitcoin Turning Point Bitcoin’s rapid recovery may signal that its latest bear market has reached a turning point, crypto asset manager Grayscale shared in an Aug. 22 post on X. The post included a chart comparing bitcoin’s current decline with four previous market cycles. The assessment followed a roughly $10,000 weekly bitcoin
The five-day run in spot crypto ETF flows is becoming harder to dismiss as a one-off asset rotation. Spot Bitcoin ETFs pulled in $307 million in net inflows on August 21, while spot Ethereum ETFs added $185 million, according to the original report from WuBlockchain. Both product categories have now posted five consecutive sessions of
“This wasn’t an organic rally. It was a classic short squeeze,” the trader MARMOT posted to 114,000 views on Friday, as bitcoin closed a run that carried it from $62,900 on August 16 to $79,500 five days later, a 26% move that left the price near $77,000 on Saturday. “$3.1 BILLION in shorts wiped out,”