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Crypto Shuttle News

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  • Blockchain.com IPO May Take Place This Year

    Blockchain.com IPO May Take Place This Year

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    Bloomberg reported that blockchain.com is planning an initial public offering (IPO). The crypto firm is in discussions with banks that may lead the IPO.

    The report is indicating that a final decision has yet to be made.

    Blockchain.com is listed among the biggest crypto trading platforms. In a Series D funding round that took place in March, led by Lightspeed Venture Partners, Blockchain.com was valued at $14 billion.

    Blockchain.com has a presence in over 30 states including Michigan, Georgia and North Dakota.

    Other crypto exchanges are considering an IPO. Both Gemini and Kraken have affirmed their IPO plans. Some are suggesting Binance.US is next in line for an IPO.

    Blockchain.com Acquisitions and Partnerships

    Similar to other major crypto companies, Blockchain.com has been working on its market dominance. In March 2022, it acquired Altonomy OTC desk.

    The acquisition allowed Blockchain.com to penetrate crypto OTC trading. Altonomy’s transactions in the spot OTC market exceeded $16 billion. The main interest in Altonomy was its Asian presence and a greater focus on altcoins.

    Earlier this year, Blockchain.com launched a new asset management platform (BCAM). The new service was created for institutional investors and family offices.

    Altis Partners was in charge of launching the crypto asset management.

    Dallas Cowboys announced the team has partnered with Blockchain.com in April. The NFL is still forbidding teams to promote cryptocurrencies and fan tokens, but blockchain sponsors are welcomed.

    The partnership includes advertising, branding and content creation. TV and radio advertising are included. The crypto firm will also benefit from a space inside AT&T Stadium.

    Dallas Cowboys’ fans will receive exclusive rewards via Blockchain.com wallets such as VIP trips to hosted events. An educational summit will be held for fans that wish to expand their knowledge of digital assets.

    More info on the partnership

    Furthermore, Blockchain.com is developing its own non-fungible tokens marketplace, which may boost the company’s revenue when launched.

    Bloomberg reported that blockchain.com is planning an initial public offering (IPO). The crypto firm is in discussions with banks that may lead the IPO.

    The report is indicating that a final decision has yet to be made.

    Blockchain.com is listed among the biggest crypto trading platforms. In a Series D funding round that took place in March, led by Lightspeed Venture Partners, Blockchain.com was valued at $14 billion.

    Blockchain.com has a presence in over 30 states including Michigan, Georgia and North Dakota.

    Other crypto exchanges are considering an IPO. Both Gemini and Kraken have affirmed their IPO plans. Some are suggesting Binance.US is next in line for an IPO.

    Blockchain.com Acquisitions and Partnerships

    Similar to other major crypto companies, Blockchain.com has been working on its market dominance. In March 2022, it acquired Altonomy OTC desk.

    The acquisition allowed Blockchain.com to penetrate crypto OTC trading. Altonomy’s transactions in the spot OTC market exceeded $16 billion. The main interest in Altonomy was its Asian presence and a greater focus on altcoins.

    Earlier this year, Blockchain.com launched a new asset management platform (BCAM). The new service was created for institutional investors and family offices.

    Altis Partners was in charge of launching the crypto asset management.

    Dallas Cowboys announced the team has partnered with Blockchain.com in April. The NFL is still forbidding teams to promote cryptocurrencies and fan tokens, but blockchain sponsors are welcomed.

    The partnership includes advertising, branding and content creation. TV and radio advertising are included. The crypto firm will also benefit from a space inside AT&T Stadium.

    Dallas Cowboys’ fans will receive exclusive rewards via Blockchain.com wallets such as VIP trips to hosted events. An educational summit will be held for fans that wish to expand their knowledge of digital assets.

    More info on the partnership

    Furthermore, Blockchain.com is developing its own non-fungible tokens marketplace, which may boost the company’s revenue when launched.

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  • Ethereum Transaction Fees Near Six-Month Low Amid Declining Prices

    Ethereum Transaction Fees Near Six-Month Low Amid Declining Prices

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    Ethereum gas prices have been declining for a while now. It had risen to its all-time high back in 2021 when the bull market was in full bloom. It then continued to maintain on the high spike, spiking at various intervals to high points. At its highest, average ETH gas fees were as high as $69. However, with the recent downtrend and the market losing momentum, the gas fees have crumbled and the recent decline has seen its near six-month lows.

    Ethereum Fees Are Down

    Ethereum gas fees for the last three months showed a consistent downtrend that saw average gas fees decline as low as $5.98 in early March. This had been the lowest that gas fees had been in seven months at this point. However, a spike in gas fees in early April would quickly put an end to this sending gas fees as high as $43 once more. This would prove to be only temporary given that the sharp downtrend that followed has sent ETH gas fees to plummet towards six-month lows.

    Related Reading | DeFi Stablecoin Platform Beanstalk Suffers ~$80M Hack

    As of Monday, Ethereum gas fees had declined as low as $8.78 on average. It represented a 76$% drop from its April high to put it in levels recorded in early March. The drop in ETH fees has also translated to a drop in the fees of Layer 2 rollups which boast significantly lesser fees than it costs to transact on the main network. 

    The lowest recorded fee rate had dropped to as low as $0.03 per transaction on Sunday recorded on Metis Network. Others like Loopring and Zksync had seen transaction fees slide to as low as $0.05.

    Bitcoin fees had also fallen and the average transaction fee as of early Monday sat at $1.04.

    Ethereum price chart from TradingView.com

    ETH On The Charts

    The current downtrend seems to be prominent in not just the transaction fees but the price of the digital asset. Ethereum price had crashed below $3,000 in the early hours of Monday, and while small recoveries were made, various dips saw the digital asset touch the $2,800 price range before the opening of the markets on Monday.

    Related Reading | TA: Ethereum Slides Below 3K, Why Bears Could Aim $2.5K

    With selloffs rocking the market, indicators had turned inherently bullish for the digital asset, skewing completely in favor of the sellers. After breaking the $3,000 mark, the next major support level now lies at $2,900 although bears continue their efforts to drag it down lower. 

    ETH has now fallen below the 50-day moving average. This puts the short-term forecasts of the cryptocurrency right in the negative for the majority of traders, and the long-term outlook is not looking good either. The digital asset is trading at $2,909 at the time of this writing.

    Featured image from Shrimpy Academy, chart from TradingView.com

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  • Github suspends accounts of Russian developers linked to sanctioned firms

    Github suspends accounts of Russian developers linked to sanctioned firms

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    Major developer platform Github has reportedly blocked more than a dozen accounts of Russian developer’s associated with organizations sanctioned by the United States government. 

    The sanctioned accounts include some of the largest banks in Russia: Sberbank and Alfa-Bank, as well as individual developers with links to the sanctioned firms. However, many individual accounts with no links or ties to sanctioned firms were also blocked in the process, Researcher Sergey Bobrov, who reportedly has no links to any such firm, reported that his account was suspended on April 15 and then immediately restored.

    Another individual developer, Vadim Yanitskiy, wrote:

    “My Github account has been suspended without prior notification. Perhaps because I am ethnically Russian. ‘GitHub’s vision is to be the home for all developers, no matter where they reside,’ they said.”

    Github is a popular software development platform used for storing, tracking and collaborating on software projects. It enables developers to upload their own code files and to collaborate with fellow developers on open-source projects. It has become a core part of the crypto ecosystem because of its open-source nature.

    As per early reports, most of the firms and developers facing suspension belong to private Russian banks and no crypto firm or developer was impacted. Github didn’t respond to Cointelegraph’s request for comment at publishing time.

    Related: North Korea-obsessed Ethereum dev gets 5 years for breaking sanctions

    After a few Russian developers contacted Github regarding the suspension, they received a response, explaining the reasons behind their suspension with an added link through which they could appeal.

    Github Reponse to Developers

    The blocking of individual developers’ accounts has raised many questions, especially when the open-source platform has promised “ to ensure free open source services are available to all, including developers in Russia,”