Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week
Binance ends support for anonymous Litecoin transactions
Binance has decided to ban Litecoin (LTC) transactions sent through the most recent MimbleWimble (MWEB) upgrade from its exchange, noting that such transactions would now result in the loss of the related LTC. Binance isn’t delisting LTC entirely, unlike other exchanges that have decided to remove the cryptocurrency. Among its changes, the latest Litecoin MWEB update ushered in privacy features. Binance’s decision to end support for these transactions comes as global crypto regulation remains an ever-present focal point in the industry.
Ethereum difficulty bomb delayed but network adoption still growing
The difficulty bomb, a key piece of the puzzle in Ethereum’s move to proof-of-stake (PoS), has been delayed. Put simply, the difficulty bomb makes mining on Ethereum’s current proof-of-work (PoW) chain undesireable in order to push everyone over to the PoS chain. Anticipated to occur in August, the move to PoS is has been dubbed The Merge by Ethereum. Ethereum developers recently concluded a successful testnet merge, which simulated how the real Ethereum PoS chain would play out.
72 of the top 100 coins have fallen 90% or more: Here are the holdouts
This week was a tough one for the crypto industry as prices across the board fell in dramatic fashion. Falling below the $1 trillion mark, the crypto industry’s total market cap posted a 24% decline. From their all-time high prices, 72 of the largest 100 crypto assets by market cap have dropped over 90%. During this bear market, even market leaders Bitcoin and Ether have posted 70.3% and 78% losses, respectively, from their all-time highs.
Three Arrows Capital has failed to meet margin calls: Report