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3 key data points highlight the 60-day strength shown by altcoins. A wave of green has washed across the entire crypto market , and it won’t be long before traders on X (the social platform formerly known as Twitter) begin to explain that a new altcoins season has arrived.  Altcoin season, or ‘altseason’ as the crypto bros say, typically measures the rallying of altcoins and a positive market capitalization increase of the total altcoin market cap. Let’s take a look at some key indicators that market participants use to determine whether or not an altcoin season has emerged. Total crypto market capitalization hits a 14-month high The total crypto market cap recently hit a 14-month high, clearly reflecting the current bullish momentum. Crypto total market cap broke out to its highest levels in over 14 months. pic.twitter.com/0c6CPxDSfQ — TradingView (@tradingview) November 6, 2023 Similar strength is seen in the total altcoin market capitalization chart (TOTAL2). The met...

The exploited Multichain bridge briefly opened on Nov. 1, and a trader managed to use this opportunity to buy debugged assets at a discount, allowing them to make more than $1.5 million in profits. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. A trader managed to exploit the brief opening of the Multichain cross-chain bridge, which was frozen since its exploit in July 2023, allowing the trader to turn $280,000 worth of Fantom’s (FTM) tokens into $1.9 million worth of different assets. In other news, Solana’s (SOL) token has surged 80% in a month , and Avalanche is set to shut down its Etherscan-powered block chain explorer tool amid a fee controversy. A new bridged token from LayerZero has drawn criticism from nine protocols throughout the Ethereum ecosystem, claiming that it limits the freedom of token issuers. The top 100 DeFi tokens continue...

FCF Pay’s X account has been suspended amid circulating misreporting about its “partnership” with Honda, which has never happened. Major automobile manufacturer Honda does not accept cryptocurrency payment s directly but one can use cryptocurrencies like Bitcoin (BTC) to buy a Honda car through a third party . In early October, several publications mistakenly reported that Honda started accepting cryptocurrency as payment. But Honda doesn’t allow one to purchase its cars in exchange for crypto, a spokesperson for the firm told Cointelegraph, stating: “American Honda does not accept cryptocurrency as payment. The recent reports regarding a change to this policy are incorrect.” Honda didn’t respond to additional questions on its stance on crypto or whether the company is planning to integrate cryptocurrency payment s in the future. While direct crypto payments for Honda automobiles aren’t available, one can still use cryptocurrency payment platforms like FCF Pay to buy a Honda car. Acco...

Ibiza’s vibrant nightlife is preparing for a new era of clubbing driven by the transformative power of blockchain technology. While it may seem counterintuitive initially, the crypto market has much to offer to night clubs and festivals. The symbiosis between these two ecosystems is already unfolding in Ibiza — a Spanish island known for its night life and electronic music events in the summer. Ibiza’s journey to Web3 Ibiza aims to become a crypto island by embracing the Web3 trend. It aims to connect local artists, nightclubs and festival operators with a global audience and educate the community on the benefits of blockchain. Local nightclubs and venues are looking to leverage blockchain to create unique experiences. Ibiza has already recorded several NFT milestones in its history, starting with the Amnesia Ibiza NFT Medallions in 2021, which will give lifetime VIP access to the Amnesia club, followed shortly by DJenerates Klub, the first NFT collection immortalizing the iconic fi...

Understand how companies reorganize amid financial challenges to ensure business continuity via Chapter 11 bankruptcy. In the complex world of finance and business, bankruptcy serves as a crucial mechanism that allows struggling companies to reorganize and regain financial stability.  One of the most well-known forms of bankruptcy is Chapter 11, a legal process in the United States that grants businesses the opportunity to restructure their operations while protecting them from creditors’ immediate demands. This article delves into the intricacies of Chapter 11 bankruptcy , its objectives, procedures and notable examples within the realm of the cryptocurrency industry. Chapter 11 bankruptcy, explained Chapter 11 bankruptcy, often referred to as “reorganization bankruptcy,” provides companies, both large and small, with the chance to rehabilitate their financial health while keeping their operations intact. This chapter allows a debtor (the company) to propose a plan that outlines ho...

Shiba Inu’s marketing strategist Lucie has offered instructions to help users reduce the risk of encountering phishing links and fraudulent schemes when using Shibarium. Lucie, Shiba Inu’s marketing specialist, has cautioned the public against potential exploit ation risks on Shibarium, the newly-released Ethereum layer-2 scaling protocol. According to a post by the executive on X (formerly Twitter), Shibarium is accessible for development by anyone, similar to other blockchains like Polygon and Ethereum. However, this openness also makes it vulnerable to potential attacks. Malicious entities could exploit the platform to target decentralized applications constructed on the layer-2 network or deploy fraudulent rug pull tokens. Users should exercise caution and remain vigilant, as some exploit ers might even utilize the Shibarium name in their scam project titles, Lucie highlighted. Similar to Polygon, Ethereum, and other blockchains, Shibarium is open for anyone to build on. Regret...

Vera Molnár pioneered the use of computer-generated art in the latter half of the 20th Century. Computer- generate d nonfungible tokens (NFTs) created by Hungarian artist Vera Molnár in collaboration with Martin Grasser sold out during Sotheby's Dutch auction for 631 Ether (ETH), or around $1.2 million, in less than one hour.  Molnár's Themes and Variations #1 sold for 19.84 ETH | Source: Sotheby's According to the July 26 announcement, the "Themes and Variation" collection Features 500 collectibles via an algorithm combination of 170 color palettes and recursive grids. Auctioneers wrote: "Themes and Variations is an expansion of Molnár's 2% d'ordre generative protocol that explores the power of the grid and randomness of color. Molnár further developed the system by incorporating the appearance of letters (N, F, T), playfully chosen for this series as a reference to the technological vehicle of NFTs." Born in Budapest in 1924, Molnár was one...

Content creator KryptosChain explains why a project’s roadmap and token price are important to its success, as well as the upgrades to the Polkadot ecosystem that excite him most. In the latest episode of Market Talks , show host and Cointelegraph head of markets Ray Salmond sat down with Polkadot ambassador and content creator KryptosChain to discuss the current state of the crypto market and drastic changes taking place in the Polkadot ecosystem.  According to KryptosChain, the crypto market is possibly rounding the last corner of the bear market, and across the space, sentiment and money flow are steadily beginning to improve. “Overall, I do think the market sentiment right now is hype-driven, but hopefully, we can change that with enterprise adoption and through the eventual approval of a spot Bitcoin ETF” He added that, “In my opinion, I think the Bitcoin halving next year will be the main driver for the start of a new bull market, because of its history, and people base the mark...

Binance said it’s cooperating with Australian regulators to meet local regulatory requirements amid reports of office searches. Binance Australia is working with local authorities on meeting compliance requirements amid report s alleging that the company’s offices were searched on July 4. "We are cooperating with local authorities and Binance is focused on meeting local regulatory standards in order to serve our users in Australia in a fully compliant manner,” a spokesperson for Binance Australia told Cointelegraph. The Australian Securities and Investments Commission (ASIC) conducted searches at Binance Australia locations on Tuesday, Bloomberg reported . The investigation was part of an ongoing probe of Binance’s now-defunct Australian derivatives business, the report notes, citing anonymous people familiar with the matter. Binance’s representative did not confirm or deny to Cointelegraph whether the company’s offices were searched, or even whether the company was aware of...

Crypto services in the U.K. will face stricter regulations, including a “cooling-off period” for first-time investors and a ban on “refer a friend” bonuses. In a June 8 announcement, the United Kingdom’s Financial Conduct Authority (FCA) said that from Oct. 8, advertisers of crypto services in the U.K. would be subjected to stricter regulations. The U.K. watchdog has mandated that crypto companies in the U.K. implement a "cooling-off period" for first-time investors. Additionally, as part of measures to enhance investor awareness of risks, the FCA has prohibited the use of " refer a friend" bonuses by firms in the sector. Sheldon Mills, Executive Director of Consumers and Competition, stated in the written statement that while the decision to purchase crypto lies with individuals, research indicates that many express regret over impulsive choices. The implemented rules aim to provide people with sufficient time and appropriate risk warnings to enable an informe...

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DeFi saw another multimillion-dollar rug pull this past week, and the Multichain saga continues to spiral out of control. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. After a bullish April, May was another month of exploits , rug pulls and hacks, bringing back uncertainty to DeFi. The most prominent headline marker in the past week was the Multichain protocol. The cross-chain DeFi protocol’s delayed node upgrade created a spiral impact and tanked its token price by 30%. The Multichain protocol saga impacted multiple DeFi protocols, forcing Binance to suspend deposits for ten bridged tokens on May 25 after days of stuck transactions. Multichain aside, the week was dominated by hacks, exploits and rug pulls. A crypto project allegedly ran off with $32 million of customer’s funds, DeFi protocol WDZD Swap was exploited for $1.1 million, and a bug...

3 key indicators are behind the prolonged bearish trend in Ether, and data fails to identify an immediate catalyst for a price breakout. Ether’s price has been stuck below $1,920 for the past 16 days, which is especially concerning since the latest breakout attempt on May 6 lasted less than 24 hours. Excluding this brief price pump, Ether’s (ETH) journey below $1,920 was initiated on April 21, over 30 days ago. One can likely blame the Ethereum network’s $8.80 average transaction fee for investors’ diminished appetite, but the macroeconomic environment has also played an important role. On May 22, JPMorgan Chase CEO Jamie Dimon said it is impossible to predict the outcome of the Federal Reserve’s monetary policy, designed to curb inflation. As CNN reported, Dimon added: “You’re already seeing credit tighten up because the easiest way for a bank to retain capital is not to make the next loan." The uncertainty surrounding the United States debt ceiling standoff between Joe Biden’...

The ongoing war in Ukraine has made financial services inaccessible for many, exacerbating the need for a low-cost, efficient solution. International money transfers have long been a challenge for anyone who needs to send money from one country to another. Traditional banking systems are slow and expensive because many banks don’t have a direct relationship with each other, so they have to charge high processing fees or use an intermediary to complete a transfer. The multi-step process can take days or even weeks to complete a transfer. This makes it increasingly difficult for people to pay for expenses abroad or send money to loved ones who may be in a time crunch. The situation has since been exacerbated by the ongoing war in Ukraine. As the war intensifies, an estimated 8 million Ukrainians have been forced to flee their homes, leaving them without access to basic necessities, including financial services. In many cases, traditional banking systems are nonexistent or disrupted, mak...

SafeMoon hacker said the exploit wasn't intentional plans to return majority of the exploited funds. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. This week in DeFi saw the hacker behind the $8.9 million SafeMoon exploit agree to return the majority of the stolen funds . According to the project’s developers, the hacker will return 80% while keeping the remaining 20%. United States crypto lender BlockFi was granted an additional 48-day extension to submit its exit plan by a New Jersey bankruptcy judge, exploring the potential sale of company assets and restructuring. Ether (ETH) price hit a new 11-month high even as post-Shapella withdrawals peaked at over 1 million ETH. Meanwhile, Ethereum gas fees touched new multimonth highs owing to a fresh memecoin frenzy. The heavy traffic on the network allowed a maximal extractable value (MEV) ...

Ava Labs has introduced its new Evergreen subnets, aiming to help institutions improve control and intercompany communication on the blockchain. Ava Labs, the developer of the Avalanche layer-1 Blockchain platform, is introducing new institutional deployments to improve the Blockchain environment. On April 6, Ava Labs introduced Avalanche Evergreen Subnets, a suite of institutional blockchain tooling and customizations designed to address company-specific requirements for financial services. The new product aims to allow institutions to maintain control over their blockchain environment while enabling intercompany communication, Ava Labs’ institutional business development director, Morgan Krupetsky, told Cointelegraph. “Currently, many institutions are building use cases on enterprise blockchains such as Corda, Hyperledger, Quorum or R3, which inherently are not interoperable and rely on third-party bridges,” Krupetsky said. With Evergreen subnets, member institutions will be able to...

Arbitrum, a leading Layer-2 scaling solution for Ethereum has announced the launch and airdrop of its native token, ARB. It’s official — there’s a new Layer-2 token on the block. Arbitrum, a leading contender in the field of Layer-2 scaling solutions for Ethereum (ETH) has recently unveiled the launch and airdrop of its native governance token, ARB. Since its launch in 2021, the network has become one of the largest projects without a token, fueling excitement and anticipation for its impending launch. ARB to drive Arbitrum governance Arbitrum is an Optimistic Rollup solution that shifts network operations away from the Ethereum mainnet while still maintaining Ethereum-level security. It runs on its own Blockchain and allows developers to deploy smart contracts that can process a higher number of transactions per second, thus lowering overall fees. According to the latest data from L2 Beat, Arbitrum currently dominates the L2 wars, holding 55% of the market share in terms of total val...