New Protocol Ethscriptions Allows Users to Create and Share Digital Objects on Ethereum
June 19 (Cointime) - Ethscriptions, a new protocol on Ethereum, allows users to create and share digital objects on the blockchain. Developed by Tom Lehman, the project saw explosive interest with nearly 30,000 Ethscriptions created in less than 18 hours. The protocol enables non-financial and arbitrary data to be written into the main Ethereum blockchain, leveraging Ethereum "calldata" for cheaper and more decentralized storage. While some say the technology has been around for years, Ethscriptions have gained widespread awareness and sparked excitement among developers and users in the Ethereum community.
If You Bought Your Dad $100 In Bitcoin, Dogecoin And Ethereum Last Father's Day, Here's How Much He'd Have Today
June 19 (Cointime) - Investing $100 in each cryptocurrency last Father’s Day would be worth the following based on prices at the time of writing:
Top Trader Issues Warning to Bitcoin Bears, Says Now Is Not the Time To Get Overly Cautious on BTC
June 18 (Cointime) - Dave the Wave, a trader who accurately predicted the May 2021 crypto market collapse, advises against being excessively risk-averse on Bitcoin at its current low price. He believes that being too cautious at the bottom would be counter-productive and a play on sentiment.
Ripple CEO warns crypto industry fight for clarity "has to continue" as Ripple vs SEC case nears end
June 18 (Cointime) - Brad Garlinghouse, CEO of Ripple, has stated that the conclusion of Ripple's case against the SEC is just the beginning of the fight for clarity in the crypto industry. He believes that the unsealing of the Hinman documents, which pertain to a 2018 speech about Ethereum not being a security, shows that the SEC knowingly created confusion about the rules and used that confusion through enforcement. Garlinghouse argues that the SEC acted in bad faith and that the timing of the lawsuit being filed just days before Christmas was a "grinch-like touch." He further explains that the documents show that senior officials at the SEC couldn't agree on the law and that only Congress has the power to create new laws.
OKX Ventures Invests in Decentralized Ethereum-equivalent ZK-Rollup Taiko
June 17 (Cointime) - Taiko, a decentralized ZK-Rollup similar to Ethereum, has received an investment from OKX Ventures, although the amount has not been disclosed.
Bitcoin and Altcoins Experience Price Increases After SEC Lawsuits Against Binance and Coinbase
June 17 (Cointime) - Bitcoin and Ethereum have both seen price increases over the past two days, with Bitcoin rising from under $25,000 to just under $27,000. This comes after a period of decline following the SEC's lawsuits against Binance and Coinbase. Other altcoins have also seen gains, with Solana experiencing the largest increase among the top 10. The crypto market cap has risen by over $60 billion in the past two days.
JPMorgan Strategists Suggest New "Other Category" for Ethereum to Avoid Securities Designation by Congress
June 16 (Cointime) - JPMorgan strategists have suggested that the US Congress could either classify Ethereum (ETH) in the same commodity category as Bitcoin (BTC) or create a new "other category" with less burdensome regulations than securities. This comes after some US Securities and Exchange Commission (SEC) officials questioned the details of a 2018 speech that stated ETH is not a security. The release of the "Hinman documents" may explain why the SEC has been avoiding taking action against ETH while targeting almost all major competitor tokens this year. Overall, the release of the documents is likely to benefit Ethereum and influence the direction of the current US congressional effort to regulate the crypto industry.
Rangers Protocol Announces Integration for Seamless Transfer of USDD Between Ethereum and BNB Chain Networks
June 16 (Cointime) - Rangers Protocol, a leading provider of Web3 Engine Infrastructure, has announced a new integration that allows users to bridge their USDD tokens between the Ethereum and BNB Chain networks. This integration offers greater flexibility and accessibility for token holders, enabling a seamless transfer of USDD between these two prominent blockchain networks. The benefits of bridging USDD between Ethereum and BNB Chain include access to a vast array of services and a bustling ecosystem on Ethereum, as well as fast and low-cost transactions on BNB Chain. This integration not only empowers users to seamlessly move their USDD assets, but also encourages cross-chain collaboration and innovation, expanding the reach of decentralized finance across multiple blockchain platforms.
Hedera Hashgraph (HBAR) Shows Remarkable Revenue Growth in Q1 2023 Report from Messari
June 16 (Cointime) - According to the Q1 2023 report from Messari, Ethereum continues to dominate in revenue generation among Layer 1 blockchains, with a revenue of $457 million, almost 2.8 times higher than all other featured Layer 1 chains combined. However, Hedera Hashgraph (HBAR) stood out with a remarkable revenue growth rate of 489% quarter-on-quarter, attributed to the adoption and utilization of its Consensus Service. While Ethereum remained the leader in most key financial and ecosystem metrics, Hedera's full-time developer count increased the most among featured networks, growing 28% QoQ to 64. The report also noted a temporary depeg of USDC and Paxos ceasing BUSD issuance, which shifted stablecoin dominance toward USDT and benefited TRON, whose stablecoin market cap increased 30% QoQ to $43.6 billion.
Bitcoin and Altcoins See Gains as Market Cap Rises to $1.04T
June 16 (Cointime) - The global market cap has increased by 1.7% in the last 24 hours, reaching $1.04T. Bitcoin has also seen a 2% gain, trading at $25K, but is still 3% down from its price three weeks ago. Ethereum has gained 1.7% in the last 24 hours, pushing for a comeback from its 9% weekly drop. Other altcoins such as BNB, Cardano, and Dogecoin have also seen gains, while XRP has only recorded a minor gain and Uniswap is still struggling. The top gainers of the day are Internet computer (ICP) and PEPE.
