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Two narratives are recently unfolding in the crypto sphere. On one front, a recent report by Chainalysis unveils a promising decline in crypto laundering activities, marking a significant step forward in ensuring the integrity of digital transactions. Simultaneously, another story is gaining momentum—the meteoric rise of one of the best ICOs, Galaxy Fox, and the growing popularity of its presale.  Let’s take a more detailed look at these two stories. Crypto laundering drops as per Chainalysis Chainalysis reveals that in 2023, the total value of laundered funds through cryptocurrencies amounted to $22.2 billion, a notable decrease from the $31.5 billion recorded in 2022.  What’s intriguing is that this decline outpaced the reduction in overall transaction volumes, indicating a multifaceted approach to tackling illicit financial activities within the crypto sphere. Factors behind the decline Several factors contributed to this decli...

BNB Chain noted that the rise in verified smart contracts highlights the demand for security, reliability and scalability. Although some consider the second quarter of 2023 a lost quarter, others find that the smart contracts industry remains resilient. Even though the crypto space suffered from lower investments from venture capital firms, developers continue to deploy smart contracts , signaling a growing demand for blockchain-based solutions.  In its Q2 report for 2023, blockchain platform BNB Chain noted an increase in verified smart contracts. According to the report, platforms like BNB Chain, Ethereum, Polygon, Fantom, Avalanche, Arbitrum and Optimism all recorded a percentage increase in verified smart contracts in Q2. Number of smart contracts verified weekly from September 2022 to the end of June 2023. Source: BNB Chain BNB Chain said that the rise in verified smart contracts across multiple blockchains highlights the “increasing importance placed on security, reliability,...

The crypto industry has witnessed a massive bear storm over the past 18 months as high inflation threats finances. Despite the red market conditions, a recent report by CryptoQuant suggests that Bitcoin’s (BTC) institutional adoption is on the rise. For instance, top fintech companies have accumulated significant BTC amounts over the past three years. According to the report, Microstrategy’s bitcoin purchases are worth almost $4 billion, while the BTC price is still down by 55% from its all-time high (ATH). While waiting for the @BlackRock and @Fidelity's #Bitcoin Spot ETF approvals, Check out our report, Institutional Adoption 2.0. Our head of research, @jjcmoreno, wrote about what could catalyze the next big bull run for $BTC 9 months ago. Linkhttps://t.co/y7VI83ToXr — CryptoQuant.com (@cryptoquant_com) June 28, 2023 Tesla, Block (formerly Square) and Galaxy Digital Holding have also been sticking to their bitcoin holdings despite the market’s high volatility. Y...

Join Our Telegram channel to stay up to date on breaking news coverage In April 2023, the cryptocurrency industry suffered huge losses amounting to more than $103 million. Several issues like cyberattacks, fraudulent activities, and sudden loan demands were responsible for these attacks. Crypto Industry Loses Over $100M in April Due to Cyberattacks and Fraudulent Activities CertiK, a company that specializes in blockchain security and auditing, recently released a report detailing these unfortunate events. According to the report, a total of $103.7 million was lost in April alone, bringing the total loss for the year to $429.7 million. This news is a big blow to the cryptocurrency world, as investors and traders are now left to deal with the aftermath of these losses. The month of April was marked by several significant crypto exploits that caused major losses in the industry . For instance, there was an exploit of multiple MEV trading bots on April 3 that resulted in a los...