Online lender joins private sector push after central bank scraps digital won plans KakaoBank, one of South Korea’s leading digital banks, is preparing to enter the stablecoin race following the government’s decision to halt its central bank digital currency (CBDC) pilot. The move reflects a broader shift in the country’s approach to digital assets, now favoring private-sector-driven innovation over public alternatives. The Bank of Korea had been testing a CBDC framework for the past two years but has now shelved those plans. In its place, the government is rolling out new legislation to support stablecoin issuance, creating fresh opportunities for…
Author: Blockto Team
Institutions Accumulate BTC and ETH While Retail Eyes Micro-Cap Tokens The global cryptocurrency market cap has found temporary stability around $3.7 trillion, with traders appearing to rotate away from major assets like Bitcoin and Ethereum. While large players continue to accumulate, retail attention has notably shifted to micro-cap tokens. “Bitcoin is again approaching its 50-day moving average,” noted one market analyst, pointing to repeated tests of this key technical level. “Such frequent testing of the medium-term trend signal line indicates accumulated fatigue in the first cryptocurrency.” Market Calm Hides Active Rotations The total market cap remains range-bound between $3.6T and…
Ethereum-focused treasury stocks are gaining traction among investors as a stronger alternative to ETH spot ETFs, according to insights from recent market research. The data shows that both types of entities—treasury-holding companies and ETFs—have each acquired approximately 1.6% of Ethereum’s total supply since June, but analysts suggest the upside potential favors the former. Corporate Balance Sheets Quietly Accumulating Ethereum Recent filings and disclosures confirm that public companies are steadily adding Ethereum to their treasuries, positioning themselves to benefit not just from ETH price appreciation, but also from NAV (net asset value) expansion as institutional exposure grows. “The financial structure of…
Internet Computer recovers from intraday lows as buyers defend critical support Internet Computer (ICP) fell 2.4% in volatile trading but managed to post a mild rebound from its intraday low of $4.97. The asset currently trades near $5.08, showing signs of short-term consolidation after testing a significant support zone between $4.90 and $5.00. Price action shows ICP recently broke down from a short-term lower high structure, leading to a test of the green demand zone. This region previously acted as a springboard for upward momentum in mid-July and is now providing a technical base once again. “The bounce from just…
A widespread crypto scam campaign using aged YouTube accounts has successfully stolen over 256 ETH (worth approximately $939,000) from unsuspecting traders, according to a new report from SentinelLABS. Aged YouTube Accounts Push Malicious “Trading Bot” Code Cybercriminals are hijacking old YouTube accounts—some with years of crypto content history—to promote fraudulent smart contracts disguised as profitable crypto trading bots. These bots are shared through seemingly legitimate tutorial videos, but once deployed, the smart contract silently grants access to the scammer’s wallet. Once the victim funds the contract—typically with at least 0.5 ETH to cover gas and enable “profits”—the scammer can immediately…
Sergei Potapenko and Ivan Turõgin, the co-founders of the now-defunct crypto mining platform HashFlare, are asking a U.S. judge for no additional jail time after pleading guilty to conspiracy to commit wire fraud. But federal prosecutors argue the pair should serve 10 years in prison, calling the operation a “classic Ponzi scheme” and the largest crypto fraud case in the court’s history. The two men were arrested in Estonia in November 2022, spending 16 months in Estonian custody before their May 2024 extradition to the U.S.. They are currently out on bail pending sentencing, which is scheduled for August 14…
Bakkt Holdings is deepening its global Bitcoin strategy by acquiring a 30% stake in Japan’s Marusho Hotta, marking a significant move into Asia’s expanding digital asset market. This acquisition makes Bakkt the company’s largest shareholder and underscores its intent to shape the region’s institutional crypto landscape. Rebranding to Bitcoin.jp and Treasury Integration As part of the deal, Marusho Hotta will be rebranded as bitcoin.jp, aligning its identity with its new crypto-focused direction. Phillip Lord, President of Bakkt International, will assume the role of CEO and spearhead the integration of Bitcoin into the company’s corporate treasury strategy. “This move reflects our…
Crypto payroll adoption surged in 2024, with the number of professionals receiving digital asset salaries tripling over the year, according to a global compensation survey by Pantera Capital. Based on responses from over 1,600 crypto professionals across 77 countries, the report reveals a major shift toward blockchain-native payroll systems and a clear preference for stablecoins, particularly Circle’s USDC. USDC Outpaces USDT in Payroll Dominance Despite Tether’s USDt maintaining dominance in global trading volume, USDC led all crypto payrolls, accounting for 63% of salaries paid in digital assets. Combined, USDC and USDt made up over 90% of stablecoin-based payouts. This preference…
Bitcoin miner IREN tops MARA in BTC output despite smaller hashrate, signals strength amid rising difficulty IREN Ltd shares soared 11.4% on Wednesday, closing at $18.32, after reporting it mined more Bitcoin in July than industry heavyweight MARA Holdings, despite operating with a smaller hashrate footprint. The company revealed it mined 728 BTC in July, narrowly beating MARA’s 703 BTC. This performance came despite IREN’s deployed hashrate of 50 exahashes per second (EH/s) being smaller than MARA’s 58.9 EH/s. IREN said its average hashrate during July was 45.4 EH/s, indicating a high level of uptime and machine efficiency. $86 Million…
Memecoin enters key support zone amid rising price instability BONK, the Solana-based memecoin, experienced a 4% intraday decline, trading around $0.0000242 at the time of writing. Despite its recent parabolic rise, the asset is now showing signs of fatigue, with volatility levels exceeding the altcoin average. In just a single session, BONK recorded a price spread of nearly 50%, suggesting an unstable short-term outlook. After peaking near $0.00004400, BONK retraced sharply, losing key ground in the past week. The asset is currently hovering around a significant support zone between $0.00002400 and $0.00002550, previously a resistance area during its June rally.…
