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  • BIS general manager: Central banks generate trust, not big techs or “anonymous ledgers"
    Cointelegraph.com News - 4 hours ago
    According to the boss of the international institution owned by central banks, it is central banks that are best positioned to shape the future of money. In a speech entitled “Digital currencies and the soul of money,” Agustín Carstens, the general manager of the Bank of International Settlements, criticized private stablecoins and decentralized finance (DeFi), touting central bank-led financial innovation as the best possible path to the future of money.Carstens, who served as governor of the Bank of Mexico between 2010 and 2017, delivered his remarks at the conference on “Data, Digitalization, the New Finance and Central Bank Digital Currencies: The Future of Banking and Money” at the Goethe University in Frankfurt.The economist’s argument revolved around the institutional foundations of money and how, even in the digital age, central banks remain in a position to provide trust in money and ensure “an efficient and inclusive financial system to the benefit of all.” Alternative designs of monetary systems that emerged throughout history, according to the BIS’ top official, “have often ended badly.”To advance his point, Carstens discussed three plausible scenarios of financial innovation. In addition to the global monetary system led by central banks, he envisioned a world where big tech-powered stablecoins are the dominant form of money, and another where the bulk of financial activity is decentralized and runs on distributed ledgers.The stablecoin scenario, Carstens maintained, is fraught with market power and data concentration at the hands of a few dominant private money issuers. National and global monetary systems would become fragmented, while the disintermediation of incumbent banks would threaten financial stability.Speaking of DeFi, the BIS boss claimed that the reality that DeFi applications are delivering is at odds with their proclaimed foundational principles of disintermediation. Carstens said:”To date, the DeFi space has been used primarily for speculative activities. Users invest, borrow and trade crypto assets in a largely unregulated environment. The absence of controls such as Know Your Customer (KYC) and Anti-Money Laundering rules, might well be one important factor in DeFi’s growth.”Furthermore, echoing BIS researchers’ recent claims, Carstens stated that “there is a lot of centralization in DeFi.” He also cited scalability issues and liquidity mismatches as problematic aspects of decentralized finance.In the vision of the monetary future that the economist extolled, central banks are at the core of the financial system, facilitating innovation such as building a global network of CBDCs. Because they are not profit-driven, central banks would act to advance the interests of the public, according to Carstens.These statements come as no surprise when voiced by a chief officer of an institution that is often called a bank for central banks. As Cointelegraph reported earlier, the BIS’ innovation arm is actively engaged in several CBDC trials, including the cross-border settlement initiative ran jointly by central banks of France and Switzerland.
  • Here’s how traders capitalize on crypto market crashes and liquidations
    Cointelegraph.com News - 4 hours ago
    Everyone’s a genius trader during bull markets, but there are also ways to generate profits during bear trends. Here’s how to capitalize on liquidations. The first week of the new year saw a vicious pullback across all cryptocurrencies in the market. Ether (ETH) price dropped from its November peak at $4,800 peak to under $3,000 on Jan. 8 and Terra’s LUNA governance token also dropped from $85 on Dec. 31 to $67 on Jan. 8, 2022. These unexpected dramatic moves often cause liquidation cascades in the lending market, but they also create unique buying opportunities in the collateral liquidation markets.Kujira’s Orca protocol is a platform built on the Terra network and it allows investors to bid on bETH (bonded asset of Ether) and bLUNA (bonded asset of LUNA) at a discounted price when the at-risk collateral is liquidated. As a pseudonymous analyst at Kujira pointed out,“Liquidation has for so long been the ‘shady underbelly’ of lending platforms and monopolised by bots so much that the average user barely knows it’s going on, least of all how they could benefit from it”. Kujira allows anyone to participate in the liquidation process by grasping the opportunity to acquire these assets at a discounted price.In the recent crash on Jan. 8, the lowest price one could buy Ether (in its bonded asset bETH form) was $2,833, while the market price of Ether was around $3,000. Similarly, traders could buy bLUNA as low as $58.90 while LUNA’s spot price was around $67.Liquidation stats from Kujira. Source: TwitterLet’s take a closer look at the strategies for acquiring bETH and bLUNA at a discount during a market crash.Market structure provides unique opportunities to buy at a discountIn the Terra ecosystem, participants can borrow Terra USD (UST), the stablecoin of the Terra blockchain, from DeFi protocols such as Anchor to participate in high-yield liquidity pools, IDOs or any other profitable trading activities involving UST. In order to borrow UST, participants need to deposit bonded assets (bETH or bLUNA) as collateral to Anchor. The maximum amount each wallet can borrow is 60% of the collateral value, often referred to by DeFi protocols as the maximum LTV (loan-to-value).In a bull market where Ether and LUNA prices are on the rise, the LTV continues to decrease and no collateral is at risk. When the price of Ether or LUNA goes down, the collateral value decreases and if the LTV exceeds 60%, a liquidation event is triggered. This alerts Anchor to sell the proportion of the collateral that exceeds the maximum LTV at a discounted fire-sale price on Kujira Orca. This is where potential buyers on the other side of the trade can buy the collateral at a discount.How to capitalize on pricing anomalies in ETH and LUNAHere are some simple steps investors can follow if they want to purchase Ether or LUNA at a discount.After connecting the Terra wallet to the platform, an investor chooses the asset they would like to bid (currently only bLUNA and bETH are available), then selects the premium (the percentage of discount from spot) to receive.After clicking “Place My Bid” to submit the bid, the investor will see the “My Bids” window. It takes 10 minutes for the bid to be ready, and afterward, the investor needs to click “Activate” to include the bid in the bidding queue. Once the bid has been filled, the amount will be shown in the “Available for Withdrawal”’ window. The investor then needs to click withdraw and pay a fee to transfer the asset back to their Terra wallet.Kujira Orca home page demo. Source: Kujira LitepaperThere are three important things to remember when placing the bid:1. If the investor is not using KUJI (the native token of Kujira) to pay for the withdrawal fee, they should always place a premium (discount) percentage larger than 1%, as there is a network fee of 2 UST and a 1% commission fee. If using KUJI, the commission is only 0.5%.2. If there are multiple bids at different discounted rates, the investor should activate them all at once to save network fees.3. The bids are filled equally and proportionally between everyone bidding at the same discounted rate. There is no first-come, first-serve advantage or larger bids that get a filled-first advantage. The only sequence in which the bids are filled is based on the discounted rate — i.e., the lower-discount pool gets filled first. The mechanism of evenly distributing liquidation assets among each bidder ensures the fairest allocation to everyone. Ryan Park, co-builder of Anchor Protocol, said in an interview about Orca:“By evenly distributing the proceeds of liquidations amongst a greater majority, collateral isn’t going into a centralised point but back into the hands of other users. The implications are staggering and quite frankly, I don’t think enough attention has been given to just how big this is.”The example below shows that when there is a 100,000 UST liquidation to be executed, the 1% discount pool (61,000 UST in total) is filled first and the pool is fully emptied. The remaining 39,000 UST is subsequently passed onto the 2% discount pool to fill the bids. Each wallet in each pool receives a proportion of the allocated liquidation amount based on the size of their total bidding offer in the pool. It is a completely fair distribution with no priority given to the quickest clicker or the largest bidder.Example of 100,000 UST liquidation in 1% and 2% pools.Identifying the best time to buyFigure1: Number of liquidated borrowers vs. ETH price. Source: Kujira Orca, Flipside CryptoAs shown in Figure 1 and Figure 2, the best time to bid is when there is a dramatic drop in collateral asset price and many borrowers’ LTV goes below the 60% maximum level. This creates an increase in the number of liquidations (blue and purple line in Figure 1) and also the supply of liquidation assets on the platform (blue and purple bar in Figure 2).Figure 2: Liquidated amount in USD vs. LUNA price. Source: Kujira Orca, Flipside CryptoThe worst case scenario — in terms of number of liquidated borrowers — coincides with the time when bLUNA and bETH prices dropped significantly. The liquidation amount also spiked in early December 2021 and early January 2022 when Ether and LUNA prices breached major support levels as shown in Figure 2.These sudden rises in liquidation create unique opportunities for investors to purchase bLUNA and bETH at a great discount. As shown in the chart below (Figure 3), in the December LUNA crash, bidders could purchase bLUNA at a 11% to 12% discount on Kujira Orca at the peak. Figure 3: bLUNA liquidated amount in USD vs. purchase discount. Source: Kujira OrcaSimilarly (shown in Figure 4), when Ether price dropped from the $4,600 level to $4,100 on Nov. 16, bidders were able to purchase bETH at a 11% discount at around $3,700. Figure 4: bETH liquidated amount in USD vs. purchase discount. Source: Kujira OrcaLooking into the average discount bidders received in the past three months, it is very interesting to see most of the liquidations happened in the very high discount group (9 to 10%, or more than 10%) for November and December 2021. In January 2022, the concentration seems to have moved to the 6% to 7% discount bucket. However, January’s data is incomplete and only available until Jan. 10 at the time of writing. This means the concentration in the 6% to 7% bucket is only a reflection of the drop early in the year and could still change for the rest of the month.Discount bucket comparison for the past 3 months — January data is only until Jan.10. Source: Kujira OrcaTraders can earn while they waitThe historical discount data clearly shows that investors can buy bETH and bLUNA at a discount as high as 9% or 10% away from the market price but the bids might take a long time to get filled. Luckily, there will soon be a way to keep earning interest from UST while waiting for the bids.Investors can simply deposit UST to Anchor’s Earn and accrue interests at the current rate of 19% APY; and use the aUST token they receive as the IOU token to bid liquidation assets on Kujira Orca. This way, one keeps accruing interest until the bid is filled on Kujira and the aUST is converted to UST for the liquidation purchase.** Special thanks to Hans from Kujira for providing the data and insights needed to complete the article.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
  • Crypto.com breach may be worth up to $33M, suggests onchain analyst
    Cointelegraph.com News - 5 hours ago
    Crypto.com’s loss in the latest security breach might have costed more than the reported $15 million. Onchain analyst claims that Crypto.com’s loss in the latest security breach might have been worth more than the reported $15 million.Pseudonymous ErgoBTC, an on-chain analyst at Bitcoin (BTC) research firm OXT Research, claims that the Crypto.com security breach that was said to have resulted in the loss of 4.6K ETH ($15 million), may be worth up to $33 million.Adding another 444 BTC to the previously reported 4.6k ETH from yesterday’s @cryptocom hack.Still no acknowledgement of loss, despite large outflows from the custodial wallet into ETH’s Tornado Cash and a well known BTC tumbler (as detailed below). pic.twitter.com/GalJKM6bi9— ∴Ergo∴ (@ErgoBTC) January 18, 2022 On Monday, reports emerged that Crypto.com had halted withdrawals “after a small number of users” experienced suspicious transactions on their accounts. The cryptocurrency exchange has since resumed withdrawals and confirmed that its users’ money was ‘safe,’ but reports emerged later that it had lost 4.6K ETH ($15 million) and was being laundered using Tornado Cash.ErgoBTC tweeted on Tuesday suggesting that another 444 BTC ($18.5 million) had been stolen from Crypto.com’s payout wallet. ErgoBTC said that OXT Research discovered a suspicious transaction of 52.55 BTC ($2.18 million) from Crypto.com’s custodial wallet.Following the transaction, “several hundred withdrawals” were made which were then combined into four outputs worth 67.75 BTC ($2.81 million) each, as per ErgoBTC. The four batches amounted to 271 BTC ($11.25 million), all of which were laundered via Bitcoin tumbler- a service that allows customers to combine several transactions and make it more difficult for investigators to trace Bitcoin transfers.The Bitcoin tumbler allegedly utilized by the alleged perpetrators to wash the 271 BTC is a well-known tool employed by the North Korean cybercrime syndicate, Lazarus, according to ErgoBTC’s tweet.According to ErgoBTC, the criminals behind the Crypto.com security breach also controlled another address holding 172.9 BTC ($7.25 million). Blockchair data reveals that the address received the funds at about the same time as the other transactions linked to the Crypto.com hack. However, as of the publishing of this article, the purported hacker has not transferred the funds through a bitcoin tumbling service yet.Related: ImmuneFi report $10B in DeFi hacks and losses across 2021At the time of publishing Crypto.com is yet to acknowledge any losses. Cointelegraph reached out to Crypto.com for more details regarding its decision to halt withdrawals, but did not receive a response as of publishing time. This article will be updated pending new information.
  • SEC Advisory Committee member calls agency to open for public comment on crypto regulation
    Cointelegraph.com News - 5 hours ago
    “This open call for comment is the only way to appropriately crowd source this issue and appropriately develop a digital asset regulation Genesis Block,” said J.W. Verret. Associate law professor and member of the Securities and Exchange Commission’s Investor Advisory Committee J.W. Verret is calling for the government agency to open for public comment in regards to digital asset regulation.In a petition addressed to SEC Secretary Vanessa Countryman, Verret said opening the floor to comments on digital assets could function as a Genesis Block for the SEC to reform its regulations on digital assets. Verret said he was a holder of Bitcoin (BTC), Ether (ETH), and “a number of layer 1 and layer 2 tokens readily available on top tier exchanges,” and was concerned how the SEC could potentially crack down on tokens it currently does not consider securities.“Under the SEC’s ‘strategically ambiguous’ interpretation of the Howey test regarding classification of investment contracts, I cannot be certain that the SEC will not in the future target one of my token holdings, under the guise of the Commission’s investor protection mission, in a manner that would ultimately cause me significant losses as a property owner,” said Verret. “This open call for comment is the only way to appropriately crowd source this issue and appropriately develop a digital asset regulation Genesis Block.”I filed a reg petition with the SEC to open a call for public comment re: digital asset regulation. There are nuances that SEC ignores in their speeches and “Howey” threats. Let’s crowd source this and start a genesis block for 21st century reg. https://t.co/lZQXPeqq93— Prof. J.W. Verret, JD, CPA/CFF, CVA, CFE (@JWVerret) January 18, 2022 Since the 1940s, the SEC has used the Howey Test to determine whether certain assets qualify as “investment contracts” and are considered securities. Many experts consider the SEC’s 2017 DAO Report, in which it said that digital assets could indeed qualify, as one of the most significant regulatory moments for cryptocurrencies in the United States.Citing his experience as a law professor, Verret implied that the SEC’s application of the Howey Test on digital assets was inconsistent from the language used in the Supreme Court decision, potentially leading to cases that could result in the highest court overturning the 1946 case: “The SEC’s present course appears to be one designed to strategically bring cases using the Howey test as a weapon against tokens (and token trading services and technologies) which cannot reasonably be registered as securities (or securities exchanges) under the regulations promulgated pursuant to the ‘33 and ‘34 Acts, even if they wanted to and were required to do so (despite neither necessarily being true). I believe this is ultimately a losing strategy for the SEC as an institution.”According to Verret, the current regulatory path the SEC is taking seems not to recognize that “digital assets, by their very design, do not fit within the classic framework of regulations designed for equity investments in firms led by boards of directors.” The law professor also criticized SEC chair Gary Gensler’s approach of asking crypto projects to “come in and talk to us,” saying many could be concerned that “engaging with the SEC may make their project the next enforcement target of the SEC.”In his call for the SEC to open for public comment “to establish a core Digital Asset Regulation Genesis Block,” Verret suggested having the agency address investor protections around crypto, where blockchain-based tokens in decentralized projects could fall within current securities regulations, how federal securities laws might take into account “unique aspects of token offerings,” and Commissioner Hester Peirce’s proposal for a three-year safe harbor for certain crypto projects. In addition, he called for a question on what requirements the SEC will consider in approving a Bitcoin spot exchange-traded fund. Related: US lawmaker proposes safe harbor for digital tokens in new billWhile the agency has given the green light to BTC futures-linked ETFs, it has repeatedly rejected applications from companies seeking ETFs with direct exposure to crypto. ProShares launched the first BTC futures-linked ETF in the United States on the New York Stock Exchange in October, with a similar crypto investment product from Valkyrie later launching on the Nasdaq.“All five SEC Commissioners have a unique opportunity to stake this development with their own priorities via the design of the call for comment,” said Verret. “This Digital Asset Reg Genesis Block can commence an interactive process that can make securities regulation more flexible, more robust, and ultimately better protect investors.”
  • Showtime: NFT tickets take the stage in 2022, connecting artists and fans
    Cointelegraph.com News - 6 hours ago
    NFT tickets are on the rise as artists and fans seek lasting engagement in real life and in the Metaverse through the use of new technology. Nonfungible tokens have proven to be successful across a number of industries. From gaming to high-end luxury fashion, NFT use cases have demonstrated the importance of creating lasting connections between a company or a brand and its users/customers.As such, it shouldn’t come as a surprise that the billion-dollar event-ticketing industry is on its way to being disrupted by nonfungible tokens. Specifically, the online event-ticketing sector — which is expected to reach $60 billion by 2026 — will likely see an increase in NFT ticket platforms and marketplaces that issue virtual tickets across a blockchain network.Colby Mort, head of marketing and communications at Get Protocol — an NFT ticketing infrastructure provider — told Cointelegraph that every ticket issued using Get Protocol’s platform is minted as an NFT on the Polygon blockchain. He added that “Since 2016, Get Protocol has processed over 1 million on-chain registered tickets for events across the world, with 500,000 being NFT tickets processed during 2021.”While notable, it’s important to point out that NFT tickets are gaining popularity since they aim to solve inefficiencies faced by traditional ticketing systems. Josh Katz, founder and CEO of YellowHeart — a marketplace for music and live-event NFT ticketing — told Cointelegraph that NFT tickets allow fans to have more control, along with offering ongoing royalties for artists. Katz noted that these points are important when considering the problems associated with traditional ticketing models:“There are tremendous challenges around ticketing today, including counterfeiting, bad actors, rampant fraud and, more than anything, fragmentation. For instance, when a major ticketing platform releases a ticket, it can be bought and sold across secondary marketplaces multiple times. NFT tickets solve all of these problems.” According to Katz, the initial premise behind NFT ticketing platforms is to redirect money from third-party ticket sellers back to artists. He explained that NFT tickets can provide ongoing royalties to stakeholders, artists and event organizers: “The artist take is 95% primary and 5% secondary, currently. But when YellowHeart secondary opens in Q2, artists will be able to set their own secondary rate and keep up to 100% of revenue flow.” Echoing Katz, Mort commented that Get Protocol’s white-label ticketing product consists of a mobile application, event dashboard, ticket webshops and other supplementary features. Mort explained that these elements help eradicate ticket scalping while giving event organizers full control over their secondary market ticket sales: “This ensures that event organizers rightfully make more revenue for their event ticket sales while keeping a direct connection between artist and all fans that would previously have been lost to external platforms.”It could be argued that control over secondary market sales is one of the most important features provided by NFT tickets, especially as ticket brokers continue to buy thousands of event tickets to resell at inflated prices. Shedding light on the matter, Marc Brownstein, co-founder and bassist of The Disco Biscuits — an American jam band — told Cointelegraph that as a musician, he fully supports the idea of NFT tickets. Disco Biscuits has already explored NFTs elsewhere, having recently announced their second NFT album launch. Brownstein said: “As creators and artists, being able to have some stake in the secondary ticket market is valuable. For example, if you are releasing a 500-ticket show and each ticket is $50, these can sell out instantly and then be listed on Stubhub for $500 each. This is a scenario artists know too well, so having commission on secondary sales is very opportunistic.” NFT tickets create lasting engagement between fans and artists In addition to giving back to artists and event organizers, Katz mentioned that NFT tickets contain everlasting utility. For example, Katz shared that the Kings of Leon’s tokenized NFT album generated close to $1.45 million during the first five days of sales on OpenSea. Part of this release contained VIP fan experiences, band meet-and-greets, exclusive tour merchandise and more. Katz explained that live music events that have returned since the end of COVID-19 lockdowns can now issue NFT tickets with similar utility: “Individuals who buy NFT tickets are opted into a community for that artist or event. Merchandise booths may also become available where orders can be placed digitally, show transportation can be provided, and more. NFT tickets also allow for contracts to change, so leading up to a show or an event, holders can be treated as VIPs. Additionally, there are post-show utility features.” While the concept behind NFT tickets is still emerging, the potential is becoming apparent to the mainstream. Most recently, the National Football League announced the launch of its limited-edition NFTs for the post-2021 season. Dallas Cowboys NFT. Source: NFLRobert Gallo, senior vice president of club business development at the NFL, told Cointelegraph that the NFL began releasing virtual commemorative tickets in the form of NFTs at no cost to fans in November 2021. “Since then, we’ve distributed over 250,000 free NFTs to fans who attended select games.” Gallo added that the goal behind the launch was to create more one-to-one experiences using innovation and technology while providing fans with new and unique ways to commemorate game-day experiences:“Following the popularity of the regular-season virtual commemorative ticket NFTs, we will continue to release NFTs during the postseason and up through the Super Bowl. Select fans who attend postseason games will receive a free virtual commemorative ticket NFT, and a limited number of NFTs will also be made available to all fans for purchase for each round of the playoffs as teams progress, and to commemorate each team’s run through the postseason.”Will centralized ticket providers hamper innovation? Gallo further explained that the NFL’s NFT marketplace is powered by global ticketing giant Ticketmaster. Despite this being the case, Katz mentioned that a number of artists have come to YellowHeart to launch NFT tickets but have had difficulty due to companies like Ticketmaster vetoing the notion by not offering NFT support at affiliated concert venues. “Artists want to reap the upsides here, but incumbents have forced them to stick with a centralized ticketing model. I’ve had roughly 10 to 20 acts during 2021 wanting to tour through YellowHeart, but Ticketmaster or Live Nation shut them down,” said Katz. On the contrary, some industry experts believe that large centralized institutions will encourage adoption. Colin Fitzpatrick, CEO of Animal Concerts — a Metaverse concert organizer — told Cointelegraph that Ticketmaster and other large institutions are accelerating their strategies toward embedding NFT capabilities into their existing business. Indeed, this already appears to be the case. For instance, Akshay Khanna, general manager of North America for StubHub, told Cointelegraph that StubHub has been watching the prevalence of NFTs in recent years and has formulated creative views of what this could mean for StubHub’s business in the future:“We believe in the magic and novelty that comes with each live experience, and any innovation that brings more personalized fan engagement to live events is good for the industry as a whole. While we haven’t yet developed anything unique on this front, as a trusted ticket marketplace of the NFL, we have been a distribution channel for NFTs that the league is distributing to ticket buyers for various games.”Mort added that large, centralized companies might stand to gain the most by applying some type of NFT ticketing model. Mort shared that Get Protocol has received much interest and many questions from existing ticketing companies about what would be possible for them. Given this, Get Protocol has developed a “Digital Twin” product to allow these companies to explore the benefits of NFT tickets. He elaborated: “This works by ‘twinning’ their ticketing operations through Get Protocol. For every ticket they issue, an NFT copy is created, allowing business as usual for the integrating ticketing company with zero operational risk while opening the door for a variety of value-adding features such as tickets becoming digital collectibles for fans and extensibility into Web3.” Although this solution is innovative, Mort explained that big companies will be hesitant to adopt an NFT ticketing model if it hurts their revenue. “It’s a matter of showing lasting added value in areas that might not be available now. It’s less utopian from a blockchain enthusiast’s view, but finding that middle ground is the quickest way to mass NFT adoption.”The Metaverse will push NFT tickets forwardChallenges aside, NFT tickets will likely gain popularity in 2022 with the rise of the Metaverse. For instance, NFTs could be a way for the music industry to boost revenues that have been lost since the start of the COVID-19 pandemic. For example, Fitzpatrick explained that Animal Concerts allows users to purchase tickets in the Metaverse with the company’s token, ANML. This gives users full access to Metaverse concerts in familiar ecosystems like Decentraland and The Sandbox. Next, the company plans to build out its own Metaverse concert venue. Animal Concerts recently announced a partnership with South Korean unicorn Kakao’s Klaytn network to increase its exposure to the Korean entertainment industry. Related: Concerts in the Metaverse could lead to a new wave of adoption, Cointelegraph MagazineKatz added that YellowHeart is looking into applying its NFT tickets within Metaverse environments: “We are working on securing venues and partnerships in the Metaverse, as this will be a disruptive angle.” However, Katz pointed out that Metaverse ecosystems will never be able to fully replace live concerts: “The Metaverse will complement live music, ensuring that we have both options available now.”
  • Price analysis 1/19: BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOT, AVAX, DOGE
    Cointelegraph.com News - 6 hours ago
    Sell pressure on BTC and altcoins is beginning to alleviate, but data suggests that it’s too early to call for a reversal. Bitcoin (BTC) and select altcoins are showing signs of some buying near support levels. According to Arcane Research, the seven-day average real Bitcoin trading volume has dropped to the lowest level since July 2021. During the previous instance, the sharp drop in volume marked a bottom and led to a strong rally from August to October 2021.However, Bloomberg Intelligence senior commodity strategist McGlone warned in a recent podcast that risk assets may correct as the United States Federal Reserve increases rates and reduces asset purchases. After the corrective phase is over, McGlone expects Bitcoin to transition from a “risk-on to a risk-off asset” and “come out better off.” Daily cryptocurrency market performance. Source: Coin360In the short term, analysts at Decentrader, a crypto market intelligence firm, expect Bitcoin to stay range-bound between “$44,000 and potentially $38,000 before an eventual breakout.”While analysts are divided on their forecasts for Bitcoin, let’s study the charts of the top 10 cryptocurrencies to find the path of least resistance.BTC/USDTThe bears are attempting to pull Bitcoin toward the strong support at $39,600 but the long tail on the candlesticks of the past two days shows that bulls have other plans. The buyers are buying on dips but a minor negative is that they have not been able to push the price above the 20-day exponential moving average (EMA) ($43,804).BTC/USDT daily chart. Source: TradingViewBoth moving averages are sloping down and the relative strength index (RSI) remains in the negative zone, indicating that bears have the upper hand. If the price turns down from the current level or the 20-day EMA, the bears will again attempt to sink the BTC/USDT pair to $39,600. This is a key level to keep an eye on in the short term.If this level cracks, the bearish momentum could pick up as several stop-losses could be triggered. That may result in a decline to $30,000.Alternatively, if the price rebounds off the current level or the $39,600 support, the buyers will attempt to push the pair above the moving averages. If the price sustains above the 50-day simple moving average (SMA) ($47,070), the negative view will invalidate and the pair could rally to the stiff overhead resistance at $52,088.ETH/USDTEther (ETH) has continued its down move and is close to the support at $2,928.83. The bulls may attempt to defend this level and start a relief rally.ETH/USDT daily chart. Source: TradingViewIf that happens, the ETH/USDT pair could rise to the 20-day EMA ($3,381). This is a key resistance to watch out for because a break above it will be the first indication that the bears may be losing steam.A break and close above the channel will signal a possible change in trend. The pair could then start its upward march toward $4,200.On the contrary, if the price turns down from the current level or the 20-day EMA, it will increase the possibility of a break below $2,928.83. If that happens, the pair could slide to the strong support at $2,652.BNB/USDTBinance Coin (BNB) continues to trade inside the descending channel pattern. The 20-day EMA ($485) has started to turn down and the RSI has dipped below 43, suggesting that bears are at an advantage.BNB/USDT daily chart. Source: TradingViewThe bulls are attempting to defend the minor support at $450. If the price rebounds off this level, the buyers will make one more attempt to clear the overhead hurdle at $500. If they succeed, it will indicate a possible change in trend.The BNB/USDT pair could then start its northward march toward $572 and later to $617. Alternatively, if the price breaks below $450, the bears will try to pull the BNB/USDT pair to the support line of the channel. ADA/USDT Cardano (ADA) rallied to the resistance line of the descending channel on Jan. 18 but the bulls could not push the price above the channel. This suggests that bears are defending the resistance line aggressively.ADA/USDT daily chart. Source: TradingViewThe ADA/USDT pair has dipped to the moving averages, which could act as a strong support. The moving averages are on the verge of a bullish crossover and the RSI is in the positive territory, indicating advantage to buyers.If the price rebounds off the current level, the bulls will again try to drive the price above the channel and the developing neckline of a possible inverse head and shoulders pattern. If that happens, the pair could start a new uptrend.This positive view will invalidate if the price breaks and sustains below the moving averages. Such a move could pull the pair down to $1.06.SOL/USDTSolana (SOL) has reached near the minor support at $130. The bulls had defended this level on Jan. 10 and may again try to do so during the current decline.SOL/USDT daily chart. Source: TradingViewIf the price rebounds off the support, the bulls will again attempt to push the SOL/USDT pair above the 20-day EMA ($151). If they succeed, the pair could rally to the resistance line of the descending channel. This is an important level to watch out for because a break and close above it will signal the possible start of a new up-move.On the contrary, if the $130 support cracks, the pair could drop to the critical support at $116. A break below this level could pull the price to the support line of the channel.XRP/USDTRipple (XRP) had been stuck between the 20-day EMA ($0.78) and the $0.75 support for the past few days, which resolved to the downside on Jan. 19. This indicates that bears have overpowered the buyers.XRP/USDT daily chart. Source: TradingViewThe downsloping moving averages and the RSI in the negative territory indicate that the path of least resistance is to the downside. If the price sustains below $0.75, the bears will try to build upon their advantage and sink the XRP/USDT pair to $0.69. Contrary to this assumption, if the price turns up from the current level and rises above the moving averages, it will indicate that bulls are accumulating on dips. That could start a relief rally which could reach the overhead resistance at $1. LUNA/USDTTerra’s LUNA token dipped below the 50-day SMA ($76) on Jan. 18 but the bulls bought the dip and pushed the price back above the 20-day EMA ($80). This is a positive sign as it shows traders are buying on dips.LUNA/USDT daily chart. Source: TradingViewIf the bulls maintain the price above the 20-day EMA, the LUNA/USDT pair could rise to the downtrend line. A break and close above this level will suggest that the selling pressure could be reducing. The pair could then rise to the 61.8% Fibonacci retracement level at $87.88 and later to $93.81.This positive view will invalidate if the price turns down and breaks below $73.95. Such a move will suggest that supply exceeds demand. The pair could then decline to $68.33 and later to $62.46.Related: 43% of Bitcoin trading volume during US market hours: Arcane ResearchDOT/USDTPolkadot (DOT) continues to drift down toward the strong support at $22.66 where the bulls will try to halt the decline. The strength of the rebound off this level could indicate whether the decline is over or not.DOT/USDT daily chart. Source: TradingViewIf the bounce rises above the moving averages, it will suggest accumulation at lower levels. The DOT/USDT pair could then rise to the overhead resistance at $32.78. A break and close above this level will suggest the start of a new uptrend.Conversely, if the price turns down from the moving averages, it will indicate that sentiment remains negative and traders are selling on rallies. That will increase the prospects of a break and close below $22.66. If that happens, the pair could drop to $16.81.AVAX/USDTAvalanche (AVAX) continues to slide toward strong support at $75.50. The price action of the past few days has formed a descending triangle pattern that will complete on a break and close below $75.50.AVAX/USDT daily chart. Source: TradingViewBoth moving averages are sloping down and the RSI is in the negative territory, indicating that bears have the upper hand. The sellers will have to sink and sustain the price below $75.50 to indicate the start of a new downtrend.The bulls are unlikely to surrender the $75.50 level easily. If the price rebounds off this support, the AVAX/USDT pair could reach the moving averages. If buyers push the price above the moving averages, the pair could rise to the downtrend line. The bulls will have to propel the price above this resistance to indicate a change in trend.DOGE/USDTDogecoin (DOGE) dipped below both moving averages on Jan. 18, which brings the $0.19 to $0.13 range into play. The flattish 20-day EMA ($0.16) and the RSI just below the midpoint suggest a balance between supply and demand.DOGE/USDT daily chart. Source: TradingViewIf the price sustains below the moving averages, the DOGE/USDT pair could gradually drop to $0.15 and if this level also cracks, the decline could extend to $0.13. A break and close below $0.13 will indicate the resumption of the downtrend.Alternatively, if the price turns up and breaks above the moving averages, it will suggest that bulls are buying on dips. The buyers will then attempt to clear the overhead hurdle at $0.19 and push the pair to $0.22.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.Market data is provided by HitBTC exchange.
  • THORChain brings DeFi yields and swaps to DOGE
    Cointelegraph.com News - 6 hours ago
    Dogecoin users can now swap their favorite memecoin for native BTC, ETH, BNB and stablecoins using THORSwap. Cross-chain liquidity network THORChain has enabled support for Dogecoin (DOGE) — bringing a new suite of decentralized finance (DeFi) capabilities to the popular memecoin.Beginning this week, users have the ability to swap DOGE or earn yields on their DOGE holdings using THORSwap, a non-custodial decentralized exchange. In practice, this means users can swap DOGE for native assets such as Bitcoin (BTC), Ether (ETH), Binance Coin (BNB), Litecoin (LTC) and stablecoins such as Tether (USDT), USD Coin (USDC) and Binance USD (BUSD). All swaps between THORChain assets, including DOGE, can be completed in one step without the need to bridge, wrap or peg assets. A THORChain developer informed Cointelegraph that a liquidity pool has been established for DOGE. The pool gives DOGE liquidity providers the ability to earn yields on their deposits from trading fees. Like other liquidity providers on THORChain, depositors have impermanent loss protection based on the length of time of each deposit. Chad Barraford, THORChain’s technical lead, said the integration gives DOGE “a new level of self-sovereignty” by allowing users to enter and exit the market free of Know Your Customer (KYC) regulations. Barraford said Dogecoin’s new DeFi capacity “changes the fundamentals of the asset both as a store of value and as a medium of exchange.”At its peak in November 2021, THORChain amassed over $400 million in total value locked, or TVL, which reflected a massive early interest in cross-chain swapping solutions. Just one month earlier, THORSwap concluded a $3.75 million private token sale that was supported by IDEO CoLab Ventures, Sanctor Capital, Nine Realms, 0xVentures and others. Tesla merch buyable with Dogecoin— Elon Musk (@elonmusk) January 14, 2022 Related: Vitalik Buterin gives thumbs down to cross-chain applicationsDOGE rose to prominence in early 2021 after major influencers — notably, Elon Musk — talked up the merits of the memecoin on social media. In the process, DOGE became an accepted form of payment for Dallas Mavericks tickets and, more recently, Tesla merchandise. It currently ranks 11th by total market capitalization with a value of $21.8 billion, according to CoinMarketCap.
  • Bitcoin’s transition to a risk-off asset will propel it to $100K in 2022, says Bloomberg analyst
    Cointelegraph.com News - 7 hours ago
    Mike McGlone, senior commodity strategist at Bloomberg, is convinced that Bitcoin’s transition to digital gold will propel it to new all-time highs in 2022. Bloomberg analyst Mike McGlone is convinced Bitcoin is on track to reach $100K in 2022, as it completes its transition from a risk-on to risk-off asset. While the Fed is planning to raise interest rates to fight inflation, risk-on assets like crypto may suffer, as people would likely prefer to invest in fixed-income assets like bonds. While this trend may represent a short-term hurdle, McGlone said he is confident that Bitcoin will still appreciate significantly in 2022:“Bitcoin is in a unique phase, I think, of transitioning from a risk-on to risk-off global digital store of value, replacing gold and becoming global collateral. So I think that’s going to be happening this year.”He said he considers the current bearish sentiment as a positive sign, indicating market consolidation. The analyst is also bullish on Ethereum, given its key role in providing the main infrastructure for decentralized finance and nonfungible tokens (NFTs). He is also convinced that USD-backed stable coins will proliferate in 2022. McGlone’s outlook for the broad crypto market is not as optimistic, though, given the large number of speculative bets among altcoins.  “Simple rules of economics do not favor prices of a market where there’s an unlimited supply and ease of entry. That’s the crypto market”. To find out more about McGlone’s crypto outlook for 2022, check out the full interview on our YouTube channel and don’t forget to subscribe!
  • Smart contracts can redefine business — But this doesn’t imply wide openness
    Cointelegraph.com News - 8 hours ago
    While big businesses may be exploring blockchain and smart contracts, retail investors should not get their hopes for entering too high. In his monthly crypto tech column, Israeli serial entrepreneur Ariel Shapira covers emerging technologies within the crypto, decentralized finance and blockchain space, as well as their roles in shaping the economy of the 21st century.The contract, an obligation that party A will do something party B desires at a price both agreed to be fair, is in many ways foundational for a functioning human society. As a testament to that, even King Hammurabi, credited as the author of one of the oldest legal codes in the world, saw it fit to codify regulations on the ties and contractual obligations between merchants and their agents.While in the great ruler’s time, merchants trusted their agreements to clay tablets, today’s counterparts are increasingly trusting their contracts on the blockchain. They look to tap smart contracts, decentralized applications (DApps) stored on-chain as executable code, that can be set off by any network user. Once an innovation brought along by Ethereum, smart contracts now find themselves powering hundreds of decentralized finance (DeFi) services where users trust the code instead of a centralized entity. While centralized entities can perform many of the same functions, DeFi is built around the idea that centralization fosters censorship and inefficiency while decentralized services are more open, transparent and secure.All of this translates quite nicely into the corporate world. Any business operation often incorporates a specific sequence of actions that the company loops through again and again. Sounds a bit like a computer algorithm, doesn’t it? The same goes for a contract, especially with its terms and conditions easy to imagine as a set of constants with if-else terms and conditions. An automated and self-enforcing contract greatly reduces operational uncertainty. By making it decentralized, companies keep the balance of power intact, avoiding the need to trust a centralized middleman. It is perhaps blockchain’s most important gift to the business community.It is, thus, no surprise that more and more companies are bringing smart contracts to the business world. Watr Foundation, an institutional blockchain project, is moving commodities trading on-chain, with smart contracts managing the bulk of the associated processes. ClearX taps smart contracts to help companies settle complex agreements such as roaming disputes between telecom providers. SEIF applies a similar logic to legaltech, providing clients with a plethora of templates to use. The momentum is there and further down the line, we will likely see more major companies embracing smart contracts.Related: Blockchain technology can change the world, and not just via crypto Crypto enthusiasts might see this as a promising trend at first glance. More companies using blockchain means more cash and liquidity for the cryptocurrency ecosystem, and that means more fuel for the Moon voyage, right? Not necessarily.Building walls, not bridgesLet’s imagine a future where enterprises have marched on-chain and entire ensembles of smart contracts now manage their day-to-day interactions. This gargantuan digital infrastructure relies on millions of data streams from sensor-ridden automated production lines to smart shipments beaming out updates on their location and status, and with everything validated, authenticated and paid for with little to no human input. The payments are in tokens, of course, and “blockchain” is written all over the picture.But, here is the first catch: Nobody said any of the blockchains powering this have to be public. If anything, it only makes sense for enterprises to opt for private and permissioned blockchains, which would be closed for everyday investors and traders. This sort of crowd would only ruin the party by bringing a speculative element into a system where all major actors are actually interested in having a stable unit of value. Otherwise, transacting within this ecosystem gets much harder. A public blockchain does not place the burden of funding and maintaining it on its members, but enterprise-grade companies will hardly find themselves encumbered by that. Stablecoin issuers should not get too enthusiastic about this picture either. It’s true that now they are positioned much better for enabling all things business-to-business since they do offer tentative stability, which is what businesses need. Those of them who manage to get into B2B blockchain projects right now might as well turn in a nice profit. Further down the line, though, they may end up dethroned by central bank digital currencies (CBDCs).From a business standpoint, a CBDC — a “wrapped” one, perhaps, i.e. brought on-chain like wrapped Bitcoin (wBTC) on the Ethereum network — works nicely for on-chain payments because it takes away a huge assortment of uncertainties associated with crypto. Besides being as stable as fiat can be, it is hardly marred by any sort of regulatory plights and is very much legal tender, as opposed to the native tokens that their private blockchains could use.Related: Private, public and consortium blockchains: The differences explainedA corporate embrace of the blockchain may make for an interesting — if not epochal — event, but there’s more to it for a technology geek than for a speculative trader. Keeping things public hardly makes that much sense if what you’re after is a stable and smooth-operating system and not a free-for-all race to the Moon.The other side of the coinYes, much of our vision for the future of business is powered by private blockchains, walled-off from the white noise of the larger world. It’s just as easy, however, to envision a more public-facing business-focused ecosystem — but one focused on smaller-size players who stand just as much to gain as giants from this transformation. From trustless operations based on smart contracts to opportunities for fund-raising via token offerings, or even promo events tapping nonfungible tokens (NFTs) for customer loyalty, many options are on the cards. The difference is small and medium-size companies may prefer to tap public blockchains instead of walling off in their private ones simply because they bring so many resources to the table without placing any extra costs on them. This includes thousands of nodes already in operation, as well as an array of services up and running courtesy of independent dev teams. So, anyone looking to simplify blockchain for small and medium-sized enterprises could be in for a nice niche market.As innovative as Bitcoin (BTC) was on its own back in the day, the technological evolution it set into motion is moving ahead, slowly but surely. It may be true that you cannot solve any problem by simply putting it on-chain, as some of the most fervent evangelists seem to believe, but it’s just as true that there are spheres and tasks that can benefit from decentralized solutions. Business is one of these spheres, and while its biggest players will likely choose to stick to their own lot, the others will be more open to the public, bringing more opportunities for retail investors as well.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.Ariel Shapira is a father, entrepreneur, speaker, cyclist and serves as founder and CEO of Social-Wisdom, a consulting agency working with Israeli startups and helping them to establish connections with international markets.
  • a16z, Google lead $20M investment in Africa Web3 game publisher Carry1st
    Cointelegraph.com News - 8 hours ago
    According to Alphabet CEO Sundar Pichai, Africa will be home to 300 million new internet users in the next five years. Web3 and social games publisher Carry1st has raised $20 million in Series A funding to further expand product development in Africa — a continent that could become the premier hub for the gaming industry over the next decade. The investment round was led by Silicon Valley venture firm Andreessen Horowitz, which has been highly active in the blockchain space, with additional participation from Avenir and Google-parent Alphabet. Carry1st’s existing backers, including Riot Games, Konvoy Ventures, Raine Ventures and TTV Capital, also participated in the investment round. The cash injection will be used by Carry1st to expand its content portfolio, grow its in-house development team and spearhead a new growth strategy to attract tens of millions of new users. A key pillar of its growth strategy is developing infrastructure to support play-to-earn gaming, which allows users to monetize their gaming experience. Alphabet’s investment in Carry1st is part of its Africa digital transformation initiative, which was announced in October 2021 by CEO Sundar Pichai. At the time, Pichai identified Africa as a major growth driver for the digital economy with an estimated 300 million people expected to come online over the next five years. If existing trends are any indication, many of those new users will be gamers. As a leading publisher of social games in Africa, Carry1st appears to be in a unique position to capitalize on this potential. In addition to providing a full-stack publishing platform, the company develops games with embedded payments solutions and online marketplaces to support monetization. The company has publishing deals with several developer studios, including Tilting Point, the publisher of Nickelodeon’s SpongeBob: Krusty Cook-Off and Sweden’s Raketspel. Africa is quickly asserting itself as one of the biggest consumer markets for peer-to-peer payments and decentralized networks. Several major economies in the region, including Nigeria, have embraced Bitcoin (BTC) for payments and remittances. Blockchain analytics firm Chainalysis estimates that the continent’s crypto market grew 1,200% between 2020 and 2021. The gaming industry is expected to grow exponentially over the next 10 years, creating new opportunities for Web3 and play-to-earn business models. Related: Binance sponsors AFCON to further develop crypto adoption in AfricaAccording to research from Newzoo and Cary1st, the number of gamers in Sub-Saharan Africa is set to grow 275% over the next decade.
  • Astrology charts beat technical analysis: Maren Altman is a star
    Cointelegraph.com News - 9 hours ago
    Are future prices written in the stars? Meet Maren Altman, presciently named for cryptocurrency, who combines astrology and day trading crypto into a winning blend.In 1973, Princeton University professor Burton Malkiel published his book A Random Walk Down Wall Street, in which he famously states that a blindfolded monkey throwing darts at a newspapers financial pages could select a portfolio that would do just as well as one carefully selected by experts.Fast forward to 2013, and Rob Arnott, CEO of Research Affiliates, conducted research mimicking monkeys using AI and actually discovered the monkeys had done a much better job than both the experts and the stock market. Closer examination proved the success was a result of the random selection of companies by the monkey approach, optimizing their success. However, it is a sobering thought that not only machines but possibly primates can outperform humans in stock picking.Its a small step, perhaps, to look at the potential of astrology to determine the future price of Bitcoin. Unlike a stock, whose performance is dictated by both the business performance of a company and the sector in which it operates, technical analysts predictions for Bitcoin price movements depend on reviewing charts and patterns similar to that performed by astrologists.  Maren Altman reads the charts and predicts the future of crypto. In the gutter, looking at the starsSo, how do you predict the price of Bitcoin with astrology? Enter Maren Altman, who calls herself your personal poet to the stars, especially on TikTok, and has made a name for herself over the last two years by using astrology to predict price but not without attracting some controversy.I was always the weird girl who asked people about their star signs. In college, I used to earn pocket money by doing peoples charts at parties. I have always been fascinated by astrology.It was a natural fit for Altman to run Bitcoin through the charts, using the genesis block as the birth date after all, anything with a birth date can be plugged into the astrology charts. Altman bought some Bitcoin back in 2017 but had largely forgotten about it until she became interested again in March 2020 when she was studying philosophy at NYU, along with the rest of the student population nothing like a good pandemic and soaring price to grab interest.I grew up with astrology where patterns and cycles are tracked. I was also familiar with financial astrology, so it just made sense to apply it to cryptocurrency, says Altman.  A new intro to Bitcoin: The 9-minute read that could change your life December 28, 2021 The Vitalik I know: Dmitry Buterin December 23, 2021 Powers On… Top 5 crypto legal and regulatory developments of 2021 December 22, 2021 Inside the Iranian Bitcoin mining industry December 21, 2021 Daft Punk meets CryptoPunks as Novo faces up to NFTs December 13, 2021   Thats a big callOne of her first notable calls was in January 2021, where she observed that the new moon in Capricorn, on Jan. 13, looked big for Bitcoin. She went on to predict a dip followed by a bull run. Her call was prescient, with Bitcoin continuing to double in price before April. To counter that, she predicted all-time highs in May, with largely unremarkable success, and Bitcoin floundering instead in its first notable dip of 2021.Becoming a day trader proved profitable for Altman, but it was not without its stresses.It was not enough to call the price; I had to be able to execute, she says. And, some days, I made mistakes and lost money, but it was not the fault of the charts but my errors.She sees astrology as a giant mirror where certain signifiers of planetary alignments represent themes such as world growth, or even world aggression or peace. By reading those patterns and overplaying them on what has already happened, she can trace future movements or, in the case of cryptocurrency, prices.Maren offers fans astrology and silliness.Altman acknowledges that it can be hard to read the charts there is a system of patterns but also multiple cycles that can result in misreading. Having said that, she is still ahead of the game.Either way, I am 100% transparent with my trades. I share everything, she says.She began trading and posting on social media in earnest in the summer of 2020, and today, she has more than a million followers on TikTok and more than 2 million combined on all her socials.It just blew up over the summer of 2020, Altman explains.When asked why she gained such traction, Altman shrugs her shoulders.I am a bit of a character. Im young, Im a woman and I wear mostly red. But, I am also serious, I dont dumb myself down and I make my living though crypto. I guess it just blew up in a perfect storm of weirdness.Did she predict Jan. 6, or did she just read the newspapers?It might also be down to her humor and calling both the Biden presidential win and the Jan. 6, 2021 uprising, although political majors might have achieved similar success through reading the papers.She also picked up a number of high-profile features in tier-one publications such as The Washington Post, Reuters and The New Yorker not magazines that frequently publicize highly improbable predictions.Scrolling through her popular TikToks at one point when talking about flipping NFTs, she explains that she put a down payment on an apartment in Dubai by flipping one NFT. Its pretty inspirational.Mostly, though, her income is through her trading, and she is reluctant to do much monetization of her socials.Maren, feeling a little bearish. Source: TwitterIve been hesitant to partner with paid sponsors because everyone in crypto hates people that monetize their socials. Its just not done, she explains.She has written several articles for crypto traders and for market analyst Mati Greenspan on his Quantum Economics platform, but she is not directly employed by him.In other interviews, she points to her Astrology Academy, where she offers astrology training to paying clients. There are about 150 paying clients. She says that she has 1,000 people in her membership community paying between $7 and $50 a month for her teachings.  (function() {window.mc4wp = window.mc4wp || {listeners: [],forms: {on: function(evt, cb) {window.mc4wp.listeners.push({event : evt,callback: cb});}}}})(); The best of blockchain, every Tuesday Subscribe for thoughtful explorations and leisurely reads from Magazine. By subscribing you agree to our Terms of Service and Privacy PolicyLeave this field empty if you’re human:  Charting a course through the stormAt this point, I ask if she has had much pushback. Yes, she has, to the point of having to flee the country because of death threats.New York was no longer safe for me, and so I went to friends in Dubai, she says.Altman is back in New York when we speak, but she references the trolling campaign spearheaded by a 2021 article in Rolling Stone where she was called a white supremacist, a racist, homophobic and transphobic, among other things. Worryingly, given her following, it accused her of plagiarism.  Altman was criticized by Rolling Stone.  There is a lot to unpack in the series of tweets and articles written around this time. BIPOC astrologers in the same field, such as AstroDim, said that Altman had, at first, dissed their commentary that President Biden would die in office but then reposted similar predictions later on.In other social media flareups, Altman, a vegan, has used inflammatory images and texts in support of her dietary choices. Again, it has caused some backlash.  the more importance you have to say, the more others will misrepresent you & take you out of context. the key is to remember that what you have to say is more important than shutting up.— MAREN (@marenaltman) January 7, 2022  The BIPOC astrologers in the same article also maintained that there is a general bias against BIPOC people across social media platforms, targeting TikTok in particular.The biggest complaint made against Altman by the BIPOC astrologers in that 2021 Rolling Stone article is that when Altman talks about the same topics as they do, she gets more views. That might say more about America than astrology.Altman apologized in a number of videos about her comments and videos on gender fluidity, trans people and animal/meat eaters before going offline during the Mercury retrograde when she went to Dubai.According to Altman, she was not trolled by crypto heads but rather spiritual crazies who invented a lot of their claims.She certainly does attract a lot of attention good and bad and there is even a Twitter account presenting an archive of her more standout tweets where she claims, among other things, that artificial insemination for dairy cows is a form of sexual assault.  Promoting disordered eating as well as an ongoing moral superiority complex pic.twitter.com/BImU7tO5Lf— maren altman tweets (@marenaltmantwe1) February 9, 2021  Altman says she went to the police when the threats escalated and now has security.  A thread: #astrotwitter 2 nights ago I was shocked to see Maren Altman tweet she has a legal team handling the recent incident involing her and the rest of the astro community, it wasn't a good look…— Jalin (@C_Jalin) February 12, 2021  What we know for certain if you believe in the charts, however, is that she is assured of more success in her future.Not famous, as that is a very loaded word, but I always knew I would be successful. Funnily enough, my own astrology charts are entirely focused on finance, and it never made sense to me until now.In time, Ill move away from day trading and into angel investing, but I need to build my capital first.   A new intro to Bitcoin: The 9-minute read that could change your life December 28, 2021 The Vitalik I know: Dmitry Buterin December 23, 2021 Powers On… Top 5 crypto legal and regulatory developments of 2021 December 22, 2021 Inside the Iranian Bitcoin mining industry December 21, 2021 Daft Punk meets CryptoPunks as Novo faces up to NFTs December 13, 2021   
  • Crypto IRA iTrustCapital raises $125M, pushes valuation over $1B
    Cointelegraph.com News - 9 hours ago
    The company said it planned to use the funds for expanding its existing product and service line in addition to exploring strategic acquisitions. Cryptocurrency individual retirement account and 401(k) provider iTrustCapital said it had raised $125 million in a growth equity investment, making its valuation reach $1.3 billion.In a Wednesday announcement, iTrustCapital said it had completed a $125 million Series A growth equity investment led by New York-based VC firm Left Lane Capital. The company said it planned to use the funds for expanding its existing product and service line in addition to exploring strategic acquisitions.”We are equally excited to partner with iTrustCapital to help support their mission to provide access to cryptocurrency and other alternative investment products through self-directed IRAs,” said Left Lane Capital board member Matthew Miller. “iTrustCapital serves clients that seek long-term, tax-advantaged exposure to cryptocurrency as an asset class.”Providing access to 25 cryptocurrencies including Bitcoin (BTC), Ether (ETH), and Cardano (ADA) in addition to physical gold and silver, iTrustCapital allows United States-based investors to incorporate crypto investments into their retirement portfolios. The company reported it had reached more than $4.5 billion in total transaction volume, with its client base including many working professionals from 45 to 65 years old.Related: Crypto IRA integrates Coinbase Custody as trade volumes top $1.5BMany investment platforms based in the U.S. have attempted to attract investors by offering tax-free options for holding or mining crypto. Under current U.S. tax law, income is often the only taxable source of funds for many who file returns, with many able to use questionable but legal methods to avoid paying the government. In June 2021, ProPublica reported PayPal co-founder Peter Thiel had used a Roth IRA — an account generally not taxed — to invest $2,000 more than 20 years ago and turn it into a $5 billion fund. Offering “tax-advantaged” access to crypto through IRAs, iTrustCapital seems to be aiming for a similar way to reduce potential tax payments using crypto investments.
  • Hedera Governing Council to buy hashgraph IP, and open-source projects code
    Cointelegraph.com News - 9 hours ago
    Distributed ledger service Hedera Hashgraph is expected to deploy a panoply of upgrades in 2022 in line with their long-term pursuit of decentralization. The Hedera Governing Council has officially voted to purchase the intellectual property rights to the hashgraph consensus algorithm from founding architect and inaugural member of the council, Swirlds Inc, for an undisclosed fee.A Wednesday announcement also details plans to transition their code to an open-source model this year under Apache 2.0 license, in addition to transferring core team members such as CEO Mance Harmon and chief scientist Leemon Baird from Hedera to Swirlds Inc. as the CEO and chief technology officer, respectively, and deploying community staking and node opportunities, among other updates.Hedera Hashgraph is an enterprise-grade distributed ledger technology designed to create decentralized applications in the Web3 sphere.It’s governing council is composed of 25 corporations, including Google, IBM, Tata Communications and Boeing, who each support the project’s decentralized ambitions through the establishment and operation of blockchain nodes, and participating in governance voting, among other duties.Hedera’s evolution to an open-source technology differs from their current model of open-review, in which the code appears as publicly visible, but is not accessible for editing or developmental purposes by the global community.The decision to enact this change came about following conclusive technical assessments that the probability of a network split within the Hedera ecosystem is highly unlikely, and therefore the patent upholding legislative exclusivity to the technology can be safely distributed into the public domain, with assurances that it will not serve as an advantageous tool for market competitors but rather a mechanism to foster internal growth.In an exclusive with Cointelegraph, Baird, the newly appointed chief technology of Swirlds and co-chair of the Hedera Council’s Technical Steering and Product Committee, commented on the expected impact of open-sourcing the projects coding:”Open sourcing the software will allow this project to expand in ways that will help users, developers, startups, and enterprises. It will increase the number of developers and projects in the Hedera ecosystem, and further accelerate growth. I’m excited about all the new possibilities that this opens up.”Baird also noted that the next challenge for Hedera is to expand from a layer one protocol “to deliver products and services that enable others to leverage the power of the layer one protocol to create value.”Harmon and Baird, among others are scheduled to host a YouTube webinar at 11 am EST on Jan. 26 to discuss the Shared Worlds initiative in further detail, alongside developments over the coming months.From a technical perspective, Hedera’s native token, HBAR has largely consolidated in the $0.33 to $0.25 price range since the turn of the year, currently valued at $0.257.Related: UK air traffic tech firm uses Hedera Hashgraph to track dronesEarlier this month, Hedera partnered with London-based tech firm Neuron Innovations on a drone initiative designed to collate and store quantitative data metrics on an array of sectors, including commercial and military aviation as well as government initiatives.Supported by the United Kingdom’s Department for Business, Energy and Industrial Strategy, the pilot scheme — conducted in April and October 2021 — is expected to support the adoption of drones into the existing air traffic transportation system.
  • Bearish sentiment may soon abate according to Coinshares and Bitcoin metrics
    Cointelegraph.com News - 10 hours ago
    Despite last week’s institutional Bitcoin outflows of $55 million, negative sentiment could be on the wane. While key Bitcoin (BTC) metrics don’t paint a pretty picture, the bears could be running on fumes. Contrary to analysts warning that Bitcoin could dip to $38,000 “before an eventual breakout,” CoinShares and Arcane Research suggest that the tide could be turning. In brief, Bitcoin institutional outflows were negative four out of the last five weeks, totaling $55 million. The total assets under management fell to a three-month low of $35 billion midweek last week. CoinShares’ findings illustrate that large investors in the Bitcoin ecosystem, those using companies such as Grayscale, CoinsXBT, ProShares, and ETC Group, have been reducing their exposure to the digital asset. Their actions are compounded by the Fear and Greed Index hogging the “extreme fear” dial for two months, as Bitcoin spot buying volume hit a six-month low. If the Fear and Greed Index enters a third consecutive month of extreme fear, it will be the second time to do so in the metric’s existence. Traders are also trepidatious. According to Arcane Research, the seven-day average real BTC trading volume sits at $3.4 billion. It’s the lowest figure since July 2021, remembered as the trough of the mini bear market that occurred from May to July 2021. Investors and spectators in the space will remember that following that moment, from August to October 2021, the BTC price swelled by more than 60%, buoyed by robust institutional investment. Related: 43% of Bitcoin trading volume during US market hours: Arcane ResearchPlus, with Bitcoin 30-day price volatility constrained to the lowest level seen for twelve months, at 2.5%, the spring is coiled. Twitter analysts clamor for upside action. Popular Bitcoin bull @GalaxyBTC tells followers that $80,000 is on the horizon while @Tradermayne says the “bottom is in for the nth time.”
  • Bitcoin bounces at $41K as optimism increases over stocks correlation
    Cointelegraph.com News - 10 hours ago
    A quiet day for crypto markets combines with hopes that a macro uptick will lift Bitcoin and Ether higher in the coming days. Bitcoin (BTC) rebounded strongly from $41,000 during Jan. 20 as bears hoping for a step into lower territory stayed disappointed.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewData from Cointelegraph Markets Pro and TradingView showed BTC/USD adding $1,000 after dipping to near the $41,000 mark for the first time since Jan. 11.In what could be a temporary reprieve, Bitcoin nonetheless stayed rangebound, with no noticeable attacks on resistance — behavior all too familiar for spot traders in recent days.”Good bounce from Bitcoin, but I’d be happier if we reclaim $42.4K region,” Cointelegraph contributor Michaël van de Poppe summarized in his latest Twitter update.In a previous post on the day, Van de Poppe highlighted $38,000 as an “ultimate” line in the sand that needs to hold should a fresh breakdown occur.”The ultimate test for Bitcoin is the area between $38K–$40K. Holding there would confirm buyers stepping in + bullish divergence for a reversal,” he added.Others were confident in the market’s current strength, given a similiar bounce on U.S. stocks prior to the Wall Street open.I don’t trust this #BTC dump We’re still at the golden pocket, got some bull div & SPX just pumped 40 handles off the lowThink we pump from here pic.twitter.com/O81srkoXWR— CRG (@MacroCRG) January 19, 2022 Earlier, Cointelegraph reported on forecasts for Bitcoin relative to stock market performance, with well-known analyst Mike McGlone of Bloomberg Intelligence predicting that the broader correlation between crypto and equities would continue through this year.Nonetheless, another topic of interest this week focuses on the divergence in performance between Bitcoin and the Nasdaq, with proponents hoping that BTC would definitively “decouple” from the index’s downward trend.Ethereum follows Bitcoin closer to major supportOn altcoins, only Terra’s LUNA token was able to stand out from sideways action on the day, up 7% and above $80.Related: Here’s why Binance Coin is 33% down from its all-time highEther (ETH), the largest altcoin by market cap, shed 1.2% in the 24 hours to the time of writing, slowly drifting back towards $3,000.ETH/USD 1-hour candle chart (Bitstamp). Source: TradingViewIn his latest YouTube update, Van de Poppe gave a target of $2,800 for a short-term floor on ETH/USD, noting that its relative strength index was apt to provide a “bullish divergence” for price in the coming days.
  • EU securities regulator calls for proof-of-work crypto mining ban
    Cointelegraph.com News - 12 hours ago
    European regulators are concerned about crypto’s risks to climate change goals. Erik Thedéen, the vice-chair of the European Securities and Markets Authority, has raised concerns over the growing use of renewable energy for Bitcoin mining.In a recent interview with the Financial Times, Thedéen said that Bitcoin (BTC) mining has become a “national issue” and warned cryptocurrencies could pose a risk to climate change goals. He called upon European regulators to take special exception to proof-of-work (PoW) mining, which is primarily used by Bitcoin and a few other forked altcoins. He also advocated for proof-of-stake (PoS) as a better, energy-efficient alternative:“We need to have a discussion about shifting the industry to a more efficient technology.”Melanion Capital, a Paris-based alternative investment firm, has addressed the growing call for a ban on PoW mining back in November 2021, called it “completely misinformed.”The investment firm said that due to the decentralized nature of Bitcoin, there is no lobby or group to defend its interests, which “should not be taken as an opportunity to implement measures rendering illegal an industry for its lack of defensive powers.”Related: Swedish call to ban crypto mining ‘completely misinformed,’ says fund managerThe Bitcoin network’s energy usage was one of the most controversial topics in 2021 that saw the likes of Elon Musk, Jack Dorsey and Michael Saylor engage in several debates. Tesla even discontinued the Bitcoin payment option, citing the Bitcoin network’s energy usage. However, unlike Thedéen, most of the critics until now had no issue with clean energy usage. Musk has claimed that if 50% of the Bitcoin network’s energy comes from renewable sources, Tesla would rethink adding a Bitcoin payment option.China’s Bitcoin mining ban in May last year turned out to be a boon for the ecosystem, as it not only disintegrated the highly centralized Bitcoin mining industry, it also helped in moving towards renewable energy usage. According to the Q3 report from Bitcoin Mining Council, renewable energy usage by the Bitcoin network reached 58% by the third quarter of 2021.Global Sustainable Energy Index Source: BMC Report
  • Survey shows that 67% of Canadians want to get paid in crypto by 2027
    Cointelegraph.com News - 12 hours ago
    A study suggests that receiving payments in digital assets is becoming more popular in Canada. Receiving payment in crypto is gathering interest in Canada. A recent Capterra survey of 1,000 Canadian respondents revealed that 67% of the participants are interested in being paid in crypto in the next five years.The surveyors also found that one out of four participants already own crypto, with 58% starting their crypto journey during the pandemic lockdowns when they had more time to do research and learn about digital assets. Of the respondents, 37%  said that they are planning to buy crypto soon.Among the respondents who used crypto, the researchers found that Bitcoin (BTC) and Ether (ETH) are still the most popular. Apart from BTC and ETH, Dogecoin (DOGE), Litecoin (LTC) and Cardano (ADA) are among the most-used assets.The survey results also showed that crypto use is more prevalent in younger demographics. Among the crypto owners, 34% are between 18 and 22 while 41% are between 23 and 35.While many are positive about crypto use, others are more hesitant. The study identified barriers that are keeping non-crypto users from using digital assets. According to the survey, 64% are held back by their lack of knowledge in crypto, 44% expressed fears of crypto disappearing, and 40% cited market fluctuations.Related: 70% of US crypto holders started investing in 2021: ReportStudy analyst Tessa Anaya said that, while interest is growing, the future remains unclear. “While ideas like a blockchain-dependent economy and the introduction of Web3 may be gaining popularity quickly, the reality is that the future of crypto in Canada remains uncertain,” she stated.Meanwhile, research involving nine markets, including the United States and Canada, shows that small and mid-size businesses are planning to accept crypto payments. 
  • 43% of Bitcoin trading volume during US market hours: Arcane Research
    Cointelegraph.com News - 13 hours ago
    “The U.S. trading hours dominate the Bitcoin trading volume, even on weekends,” a report from Arcane Research illustrates. Uncle Sam dominates the Bitcoin (BTC) trading arena, according to a report published by Arcane Research. Bitcoins’ 90-day correlation to the S&P 500 is currently at its highest since October 2020 while the United States trading hours show the most Bitcoin activity. For 2022, the U.S. trading hours show a marked increase in trading volume, making up 43% of the 24-hour volume on average. Trading volumes have trended up during U.S. market hours since late 2021. The 43% figure is up from 36% from the period from Nov. 1, 2021 to Jan. 16, 2022. In the graph, the U.S. market open is from 3:00 pm to 9:00 pm UTC+1: Arcane Research summed up the trend neatly:”Trading activity tends to immediately pick up as the U.S. stock market opens, with Bitcoin performance being tightly correlated to that of the S&P 500.”Interestingly, American traders also kick off the week with gusto. Up to 50% of Bitcoin trading volume occurred on the last three Mondays and Tuesdays of the year, before trending down to the 40% range. The 40% is still substantial given that the U.S. market hours of 9:30 am to 4:00 pm EST account for less than 30% of a 24-hour day.Related: Bitcoin will emerge stronger after stocks dip ‘10%–20%’ — Bloomberg analystThe findings illustrate that American traders — or traders wishing to trade during American market hours — take the lion’s share of Bitcoin trading activity, and they do it early on in the week. However, it also shows the considerable impact of the U.S. stock market on the performance of Bitcoin lately.Given that the “Bitcoin 90-day correlation to the S&P 500 is currently at its highest since October 2020,” and volatility is low, calls for fireworks in the market abound.As analysts warn that Bitcoin could dip to $38,000 “before an eventual breakout,” in light of the data, the move could happen during U.S. trading hours.
  • Singapore crypto ATMs shut down after central bank crackdown
    Cointelegraph.com News - 13 hours ago
    The move is part of a broader effort by the Singaporean watchdog to regulate advertising cryptocurrency to the public. The Monetary Authority of Singapore has reportedly decided to shut down cryptocurrency automatic teller machines in the city-state.According to Bloomberg, to comply with new regulations issued by the Monetary Authority of Singapore (MAS), Singapore’s central bank, cryptocurrency ATM operators in the country were forced to shut down their operations on Tuesday.The new clampdown on cryptocurrency ATMs sparked several reactions from the city’s cryptocurrency operators, with Daenerys & Co saying it was “surprised” and canceling its ATM service on Tuesday evening. Its main competitor, Deodi, switched off its ATM network and sent staff to remove its crypto ATMs.The move is part of a broader effort by the Singaporean watchdog to regulate advertising cryptocurrency to the public. On Monday, the central bank released new guidance that bans crypto firms from advertising their services in public places, websites and social networks.Singapore’s souring on crypto, however, is more of a surprise. Coincub, a fintech startup based in the city-state, named Singapore the most crypto-friendly country in the world in December, owing to the city’s “good legislative environment” and “high rate of cryptocurrency adoption.” However, the legislative climate in the city-state appears to be cloudier right now.Related: UK advertiser ASA continues crypto ad banning spreeCointelegraph reached out to the MAS for more information but did not receive a response as of publishing time. This article will be updated if new details emerge.The clampdown in Singapore came soon after similar advertising limitations were enacted in Spain and the United Kingdom. On Monday, the Spanish government required crypto businesses to submit ad campaigns for regulatory approval 10 days in advance, while the U.K. launched a review of cryptocurrency advertising norms, vowing to crack down on products with deceptive claims.
  • Turkish ruling party holds meeting in metaverse, talks crypto regulation
    Cointelegraph.com News - 13 hours ago
    Turkey’s governing political party has discussed the upcoming crypto regulation in its first metaverse meeting. Ak Party, Turkey’s governing party, held its first metaverse meeting on Monday wherein it discussed upcoming crypto regulation. The Grand National Assembly of Turkey (TBMM) hosted its first meeting in the metaverse, Cointelegraph Turkey reported. Attending the virtual meeting were TBMM group deputy chairmen Mahir Ünal and Mustafa Elitaş along with Ömer İleri, the vice president of Ak Party responsible for information and communication technologies.Physically, Elitaş attended the meeting from the parliament building, while Ünal and İleri were at the Ak Party (AKP) headquarters. Crypto regulation was the highlight of the meeting, Ünal told state-run news agency AA, adding that crypto assets require both financial and legal regulations.Elitaş, who recently hosted a meeting with representatives from the Turkish crypto ecosystem at TBMM, stressed that it’s impossible to stay out of the virtual world. “I believe that metaverse-based meetings would be improved expeditiously and become an essential part of our lives,” he added.Elitaş is also expected to meet with Binance Turkey on Thursday. As reported before, Binance Turkey was fined 8 million Turkish lira (about $600,000) after failing an audit for monitoring Anti-Money Laundering compliance.As blockchain technology made digital ownership possible, Turkey has sped up its metaverse efforts, Öİleri said. Seeing the metaverse as a nascent yet quickly developing field, he predicted that it could impact many industries in the future. Ak Parti olarak #Metaverse üzerinden ilk toplantımızı gerçekleştirdik. pic.twitter.com/19Xfd6sIWR— AK Parti Bilgi İletişim Teknolojileri (@AKbilgitek) January 17, 2022 The metaverse is open for development in virtual reality, product management and innovative business models, İleri noted, adding that AKP wants to pave the way for a metaverse ecosystem.Related: Turkey’s crypto law is ready for parliament, President Erdoğan confirms İleri argued that digital and technological advancements have legal, economic and social aspects. The AKP is striving to develop policies regarding crypto assets and social media to protect the citizens while empowering Turkey’s innovation capabilities, he concluded.While the Turkish government is keen on blockchain technology and a central bank digital currency, Turkish President Recep Tayyip Erdoğan is known for his stern stance against cryptocurrencies. Last year in a public Q&A session, he “declared war” on crypto, saying, “We have absolutely no intention of embracing cryptocurrencies.”
  • Russian Orthodox Patriarch is not a Bitcoiner, church clarifies
    Cointelegraph.com News - 13 hours ago
    A video emerged claiming that the leader of the Russian Orthodox Church was blessing financial investments. Patriarch Kirill of Moscow and all Rus’, the leader of the Russian Orthodox Church, has not urged his flock to invest in Bitcoin, despite videos claiming otherwise. A clip recently emerged claiming that Kirill had urged the faithful to invest in cryptocurrencies. While the video does include genuine comments from the patriarch regarding the benefits of robotics for the economy, and a mention of Bitcoin (BTC), the comments were heavily edited, with the narrator further claiming that the leader would bless potential crypto investors in a special service at a Moscow church.The church’s top media representative, Vakhtang Kipshidze, told local publication Daily Storm:“This is an absolute deception, misleading those people who might think that the patriarch allegedly encourages someone to participate in financial fraud and speculation.”Kipshidze said that he considered the fraudulent nature of the video to be apparent, stating, “It would never occur to any sane person that the patriarch would call for investing in some kind of fly-by-night scheme, the fraudulent nature of which, in my opinion, is quite obvious.”Religious communities around the world have had varying opinions about cryptocurrencies, ranging from cautious approval to outright condemnation. Related: Indonesia’s national Islamic council reportedly declares Bitcoin haramIn the Islamic world, which has its own set of guidelines and laws pertaining to finance — and now digital assets — the acceptance of cryptocurrency is far from uniform.Malaysia’s shariah advisory council, for example, has declared that trading digital assets is permissible, while late last year, religious authorities in Indonesia have found it “haram,” or forbidden, namely due to its speculative nature and purported propensity for fraud. 
  • Iran to reportedly pilot central bank digital currency soon
    Cointelegraph.com News - 14 hours ago
    The Central Bank of Iran hinted at a possible CBDC pilot soon without elaborating on the time frame of the program. The Central Bank of Iran (CBI) is reportedly planning to launch a central bank digital currency (CBDC) pilot soon.According to a report by the Iranian Labour News Agency, the CBI vice governor said that CBDCs could help the country resolve financial inconsistencies. The development of a sovereign digital currency in Iran began in 2018 at the Informatics Services Corporation — the executive arm of the CBI. The development phase has been completed and a pilot will be launched soon. However, CBI didn’t reveal many details about the time frame.The Iranian CBDC was reportedly developed using the Hyperledger Fabric platform hosted by the Linux Foundation. Cointelegraph reached out to Hyperledger for a comment but didn’t get a response at the publishing time.Iran has experienced significant financial and economic difficulties as a result of heavy economic sanctions levied on it by the United States. Amid these problems, Iran has turned to crypto and was among the first countries to legalize Bitcoin (BTC) mining in hopes of reviving the economy, however, it had to temporarily shut mining operations on numerous occasions due to acute power shortages and blackouts. Iran is also looking to use cryptocurrencies for international trade, in hopes of bypassing the trade sanctions. As reported by Cointelegraph, CBI, and the Ministry of Trade reached an agreement to link the CBI’s payment platform to a trading system allowing businesses to settle payments using cryptocurrencies. At present, nearly 100 nations are working on a sovereign digital currency, while only a handful of them have reached the pilot phase. China is currently at the forefront: it completed its CBDC development in 2019 and is currently mass testing it across various provinces and retail sectors. Related: Iran halts authorized crypto mining to save energy for winterFrance and Switzerland have carried out multiple cross-border pilots. South Korea, Japan and Russia are expected to carry out trials in 2022, while the United States is still in the discussion phase. According to the Atlantic CBDC tracker, nine nations have already launched their CBDC, 14 are in the pilot phase, 16 are in the development phase, 41 nations are still researching and two nations have canceled their CBDC plans.CBDC development tracker Source: Atlantic Council
  • Bitcoin will emerge stronger after stocks dip ‘10%–20%’ — Bloomberg analyst
    Cointelegraph.com News - 15 hours ago
    Federal Reserve policy should mean markets see a long-awaited comedown of up to one-fifth, says Bloomberg Intelligence’s Mike McGlone. Bitcoin (BTC) will soon no longer be a risk asset, and investors should brace for a fresh price correction, says one of Bloomberg’s best-known analysts.In an appearance on the Wolf Of All Streets podcast on Jan. 18, Mike McGlone, senior commodity strategist at Bloomberg Intelligence, sounded the alarm on global markets’ “up only” narrative.McGlone: Bitcoin “least risky” crypto betAs Bitcoin struggles in 2022, those hoping for a dramatic return to form will be disappointed by McGlone’s mid-term forecast.The United States Federal Reserve, he said, will all but guarantee an end to the limitless gains for stocks — and crypto, naturally correlated, will suffer too.“The number one theme I’ve been using for months now is ‘Do not fight the Fed,’” he began.“If you’re long risk assets, you are fighting the Fed, and cryptos are the riskiest assets. The key thing, remember, is that Bitcoin is the least risky among cryptos.”As the Fed attempts to rein in inflation and dramatically decrease asset purchases, the outlook is thus much less appealing for risk assets in the near term. For McGlone, however, there is a silver lining when it comes to Bitcoin’s inherent appeal.“I think it’s transitioning from a risk-on to a risk-off asset,” he continued, adding that he “thinks Bitcoin will come out better off” after the period of policy upheaval.“Here’s my prediction: The markets pull back finally, and we get a 10%–20% correction in the stock market. All correlations are one, which is usually the way it works. Bitcoin comes out better off for it.”BTC/USD 1-week candle chart (Bitstamp). Source: TradingViewThe Fed fights its balance sheetMeanwhile, McGlone, who is famous for his bullish takes on Bitcoin in the past, is far from alone in his caution.Related: Analysts warn that Bitcoin could dip to $38K ‘before an eventual breakout’As Cointelegraph reported, even Bitcoin traders themselves are bracing for testing times ahead, while the analyst’s views were echoed earlier this month by Arthur Hayes, ex-CEO of derivatives trading platform BitMEX.“The loose US monetary conditions definitely influenced the meteoric rise in price (albeit a few months delayed),” he wrote about the Fed’s balance sheet in a blog post on policy and Bitcoin. “Since M2% growth stalled, Bitcoin has traded sideways. If M2 is set to hit 0% — and possibly even go negative — in short order, the natural conclusion is that Bitcoin (absent any asymptotic growth in the number of users or transactions processed via the network) is likely to go much lower as well.”An accompanying chart underscored the implications of a much more conservative atmosphere.BTC/USD vs. U.S. M2 money supply chart (screenshot). Source: Arthur Hayes/Medium
  • Opera announces beta of its new Web3-focused ‘Crypto Browser’
    Cointelegraph.com News - 15 hours ago
    The beta browser offers a built-in non-custodial wallet, available now to Windows, Mac and Android users. Opera, the Norway-based company behind the popular internet browser, has released the beta version of its new Crypto Browser Project. This crypto browser aims to facilitate the user experience of browsing decentralized applications (DApp), games and metaverse platforms by offering direct access to Web3 services for Windows, Mac and Android users. The current Opera browser boasts a no-login VPN and native ad and tracker blocker that help to make it secure. According to a release shared with Cointelegraph, the new crypto browser will maintain these security features while integrating direct access to decentralized exchanges, (NFT) and gaming DApps, as well as Telegram and Twitter support. Jorgen Arnesen, EVP mobile at Opera, stated that the main goal of the project is to help crypto and Web3 become more mainstream:“Opera’s Crypto Browser Project promises a simpler, faster, more private Web3 experience for users. It simplifies Web3 user experience that is often bewildering for mainstream users. Opera believes Web3 has to be easy to use for the decentralized web to reach its full potential.”A built-in non-custodial wallet will support Ethereum in beta and, thanks to recent partnerships, will soon extend to Polygon, Solana, Nervos Network, Celo and naming systems, such as Unstoppable Domains, Handshake and Ethereum Name Service. Opera’s integration with Polygon is expected to go live in the first quarter of 2022.The wallet supports both fungible ERC-20 standards as well as nonfungible ERC-721 standards, with ERC-1155 coming in Q1 2022. Users will also be able to purchase crypto via a built-in fiat-to-crypto on-ramp, complete crypto-to-crypto swaps and even access a built-in NFT gallery.Related: Ramp expands presence in US with FinCEN regulationAccording to the company, Opera expects to receive feedback from the crypto community on its beta in order to implement any developments “together.” 
  • Bitcoin mining becomes more sustainable: Mining Council's Q4 survey
    Cointelegraph.com News - 17 hours ago
    “This quarter we saw the trend continue with dramatic improvements to Bitcoin mining energy efficiency and sustainability,” said the Founder and CEO of MicroStrategy Michael Saylor. The percentage of the global Bitcoin mining industry running on renewable power increased by 1% to 58.5% in the fourth quarter of 2021 according to new data. The Bitcoin Mining Council (BMC) announced the findings of its fourth quarter survey on Jan. 18. The survey focused on three metrics: sustainable power mix, technological efficiency and electricity consumption. Q4 #Bitcoin Mining Council Survey Confirms Improvements in Sustainable Power Mix and Technological Efficiency. Estimated sustainable energy mix was 58.5%. Join us at 5pm ET today for a full briefing.https://t.co/t1gTZV9GtT— Michael Saylor⚡️ (@saylor) January 18, 2022 Founded in May 2021, the BMC is a voluntary global forum of Bitcoin mining companies such as Bit Digital, BitFury, Bitfarms and Atlas Mining, and other industry organizations. Michael Saylor, the Founder and CEO of MicroStrategy, and a key member of the BMC noted:“This quarter we saw the trend continue with dramatic improvements to Bitcoin mining energy efficiency & sustainability due to advances in semiconductor technology, the rapid expansion of North American mining, the China Exodus, and worldwide rotation toward sustainable energy and modern mining techniques.”The voluntary survey compiled sustainable energy information from miners accounting for more than 46% of the global Bitcoin network. According to the survey, the members of the Mining Council itself are harnessing electricity with a sustainable energy mix of 66.1%. The self-reported data was then used to estimate the global Bitcoin mining industry’s sustainable energy mix was approximately 58.5% during Q4, an increase of one percentage point on Q3’s figure. The industry’s estimated technological efficiency grew by 9% as well, to 19.3 petahash per MW. Co-founder of Core Scientific and the BMC Darin Feinstein noted that the hashrate of the BMC participating members increased by 77% in Q4. Related: Georgian citizens made to swear an oath to stop mining cryptoThe environmental impacts of Bitcoin mining have been heatedly debated for some time and U.S Congress is now preparing to take a thorough look at the energy impacts of Proof of Work blockchains. The House Committee on Energy and Commerce has just announced key witnesses to testify on the energy and environmental impacts of crypto mining at a hearing on Jan. 20.Notable witnesses include the CEO of BitFury Brian Brooks, Cornell Tech professor Ari Juels and the CEO of Soluna Computing John Belizaire. Bitcoin miners are increasingly looking for sustainable energy sources as the pressure mounts from the public, shareholders and governments. Investors like Shark Tank star Kevin O’Leary, also known as Mr. Wonderful, say they are looking to purchase stocks of mining companies that use sustainable energy. One avenue that could be explored further is nuclear energy. At the Bitcoin & Beyond Virtual Summit in early November, Vice President of Griid Harry Sudock said nuclear energy could present an opportunity to introduce large amounts of clean, carbon-free energy.
  • Strike wallet is 5th most popular finance app in Argentina, but where’s the BTC?
    Cointelegraph.com News - 18 hours ago
    “The best monetary network in human history is here, it’s open, and will disrupt the world quicker than anyone thinks. Open networks win,” said Strike CEO Jack Mallers. Strike’s digital wallet has become the fifth most popular finance app in Argentina within a week of its launch.The firm, led by hoodie-wearing CEO Jack Mallers, rolled out its crypto payment services for the Argentinian market on Jan 12. Strike is famed for enabling Bitcoin (BTC) payments via the Lightning network, particularly in El Salvador. However, according to local media and user reports, the firm’s app in Argentina reportedly currently only supports the use of Tether’s stable coin USDT for transfers via Lightning. Users are able to purchase Bitcoin via the app though, and send it to a third party wallet. Mallers tweeted on Jan. 18 that Strike’s app is currently ranked as the fifth-highest finance app and the top new app overall on the Argentinian Apple app store, as he emphasized the importance of the Bitcoin network: “The best monetary network in human history is here, it’s open, and will disrupt the world quicker than anyone thinks. Open networks win.” Mallers stated earlier this week that Strike is working to bring additional BTC support and features to the app soon, noting that the company is taking the “exact same” same approach to El Salvador. Since launch we’ve already been approached by many new partners.We have meetings next week to find sufficient partners and are working on bringing the #Bitcoin tab and other features in the US to Argentina, one step at a time.The exact same approach we’ve taken in El Salvador— Jack Mallers (@jackmallers) January 15, 2022 Neither Strike nor Mallers highlighted the use of Tether as part of the company’s initial announcement, however the CEO did note that the app would enable the Argentinian people to “hold a stable cash balance that can be spent both instantly and with no fees.” According to a rough translation of a Jan. 11 report from local media outlet iProUP, the terms of service for Strike’s app states that it is partnered with the Bittrex exchange for asset custody and fund transfers, and specifies that the app will provide “a currency that users can use to protect themselves” from inflation. “Although the solution is being promoted as being based on BTC technology, it is actually based on the Ethereum network, as it is the Tether USD (USDT) stablecoin, under the ERC-20 token technology standard,” the publication wrote. Related: Uruguay reportedly installs its first Bitcoin ATMA local Strike user named “Nico” on Twitter stated that he able to receive Bitcoin via the app but it was instantly converted into USDT, while Argentinian crypto Journalist Luis David Esparragoza responded the same thing happens on the reverse transaction, where users send USDT to Bittrex which is then converted in BTC. One function that reportedly supports Bitcoin directly in Argentina, is the BTC tipping feature on Twitter, with Mallers alluding to such via a screen recorded via on Twitter last week. Cointelegraph has reached out to Mallers for comment regarding the use of USDT, and will update the article if he responds.
  • USDC flips Tether on the Ethereum network
    Cointelegraph.com News - 18 hours ago
    The total supply for USDC on Ethereum has surpassed that of Tether, putting USDT in second place on Ethereum for the first time. Circle’s USD Coin (USDC) has reached a major milestone by surpassing Tether (USDT) in total supply on the Ethereum network.USDC’s current supply on Ethereum as of writing is 40.06 billion tokens, just ahead of USDT’s supply of 39.82 billion. Tether has been the most popular stablecoin since at least 2016, after originally sharing the market with BitUSD and NuBits (USNBT) stablecoins when it launched in late 2014. At that time, USDT ran on Omni. As the latter two fell into obscurity due to losing their dollar peg and shedding users, USDC emerged in 2018 as a more transparent and more regulated competitor to Tether, which has been under a cloud for years due to doubts over its backing. Although USDT is still the most popular stablecoin with a total supply of 78.5 billion, nearly 50% of the supply or 38.7 billion tokens, is on the Tron network. USDT can also be found on BSC, Solana, Huobi ECO Chain, Avalanche, Polygon, and 13 other chains or layer 2 solutions. The current total supply for USDC is 45.7 billion tokens across 21 chains or layer-two solutions.Doubts over Tether’s backing has caused its public image to decline over the years. Controversy has plagued the company over how the stablecoin is collateralized and how its reserve funds are managed. The issuance of two Consolidated Reserves Reports about Tether’s financial reserves from accounting firm Moore Cayman in 2021 did little to quell the doubters. In its latest financial report, Tether revealed that it holds $30.8 billion in unspecific commercial paper in addition to other assets backing USDT. Circle has been more transparent about its reserves, though not to the extent some critics demand. In Aug. 2021, Coinbase President Emilie Choi said that the USDC reserves backing the second largest stablecoin in the market would shift entirely to cash and US Treasury bonds. This did indeed happen by Oct. 27 2021 according to an Independent Accountant’s Report done by Grant Thornton.Coinbase is a close partner with Circle, a digital payments service, which helped launch USDC in Oct. 2018. Circle is backed by Bitmain, China Everbright Bank, and eight others.It has been supportive of efforts to solidify a regulatory framework for all stablecoins. Circle CEO Jeremy Allaire supported a Nov. 2021 Biden Administration proposal to treat stablecoin issuers similarly to banks. Allaire also attended a Congressional hearing with several top crypto industry leaders in Dec. 2021 to discuss policy direction with the Financial Services Committee.Centralized stablecoins USDT, USDC, and BUSD are currently the top three in their category, however decentralized stablecoin options have begun to proliferate. Related: Hong Kong Monetary Authority aims to oversee stablecoin reservesTerraUSD (UST) is the fourth largest stablecoin, but is the fastest growing since Nov. 2021. Since then, it has surpassed Magic Internet Money (MIM) and DAI (DAI), and achieved a $10.7 billion market cap.
  • Fintech startup Milo is offering 30-year ‘crypto-mortgages’
    Cointelegraph.com News - 19 hours ago
    Consumers will be able to leverage their BTC holdings and digital assets to purchase real estate in the United States. Miami-based fintech startup Milo is introducing what it claims is the world’s first “crypto mortgage.” The digital bank will allow crypto investors to leverage their digital assets to purchase real estate in the United States. At the moment, only customers wanting to use Bitcoin (BTC) as collateral qualify for Milo’s 30-year mortgage loan. Both American and international customers will be able to use the service to purchase real estate in the United States. Milo’s website states:“Instead of selling your crypto for a down payment to qualify for a mortgage, a crypto mortgage lets you leverage your crypto to invest in real estate.”Milo has already granted some loans as part of its early-access stage and expects the service will be available to most applicants on its waiting list in the coming months. It remains unclear how much BTC will be needed to secure a loan, or the level of over-collateralization needed to balance out the digital asset’s volatility. Cointelegraph has asked Milo for more details and will update this story when we hear back.BREAKING: You can now buy a house using #Bitcoin as collateral and ZERO fiat deposit with mortgage lender Milo.— Bitcoin Archive (@BTC_Archive) January 18, 2022 Josip Rupena, CEO and founder of Milo, said that the idea came in response to seeing the “countless stories” of people cashing out their BTC to purchase property, only to see it increase in value later on.“The existing ways for crypto consumers to access home credit has left them with unintended tax liabilities of selling for a down payment or worse the opportunity cost of seeing their crypto increase in value.”According to Milo, its other mortgage solution for foreign nationals has originated millions of dollars in loans already and has seen applicants from over 63 countries. It allows non-U.S.-based customers to close their housing loans remotely, without the need to travel to the U.S. or to an embassy.Introducing Rupena at the North American Bitcoin Conference on Monday, pro-crypto Miami Mayor Francis Suarez said that the Bitcoin mortgage is a “groundbreaking achievement” for advancing U.S. dominance in the Bitcoin ecosystem. “To become the Capital of Capital, Miami needs companies like Milo who are willing to innovate and ideate,” he added.Milo isn’t the first company to have its sights set on a crypto mortgage.In August 2021, United Wholesale Mortgage started testing the waters for crypto mortgage repayments with Ether (ETH) and BTC in a pilot program. However, by October, it had dumped its plans due to regulatory uncertainty.Related: Propy rallies 227% as real estate NFTs become reality and PRO lists at CoinbaseMilo raised $6 million in seed funding from investors, including QED Investors, Metaprop and 10X Capital in January 2021.Rupena has worked at multinational investment banking companies Morgan Stanley and Goldman Sachs.
  • Heavyweight champ to take 50% of his UFC 270 purse in Bitcoin
    Cointelegraph.com News - 20 hours ago
    “After doing a lot of research on Bitcoin, I really believe it is the future of money, man. Bitcoin is valuable, secure, and no one can mess with it,” said UFC heavyweight champion Francis Ngannou. UFC heavyweight titleholder Francis Ngannou has announced he will take half of his UFC 270 prize purse in Bitcoin (BTC) via Cash App.The French-Cameroonian mixed martial arts fighter will take on the undefeated Ciryl Gane on Sunday and is set to earn a guaranteed $750,000. In a tweet on Jan. 18, Ngannou noted in a video message:“After doing a lot of research on Bitcoin, I really believe it is the future of money, man. Bitcoin is valuable, secure, and no one can mess with it.”The event will take place inside the 18,000+ capacity Honda Center in Anaheim, California. In what is the first defense of Ngannou’s title reign, the fight is an intriguing heavyweight clash in which both fighters will enter the arena fresh off their best performances to date, and the winner could very well be the new face of the heavyweight class for years to come.Tickets are still up for grabs and the fight will be broadcast on ESPN and pay per view in the United States. Cash App is spending big on the fight, with another $300,000 giveaway for followers who post about the campaign on Twitter. I believe bitcoin can empower people everywhere. So I’m excited to partner w/ @CashApp to take half my #UFC270 purse in bitcoin. I want to make bitcoin more accessible to my fans, so I’m giving out $300K in bitcoin! Follow @CashApp + drop your $cashtag w/ #PaidInBitcoin pic.twitter.com/8JEvJ1UYu1— Francis Ngannou (@francis_ngannou) January 18, 2022 The Cash App marketing campaign has witnessed eminent personalities give away Bitcoin to their social media followers. Earlier in December, Hollywood actress Gwyneth Paltrow announced that she was giving away $500,000 in BTC to her Twitter and Instagram followers via a Cash App partnership. Ngannou is also not the first professional MMA fighter to receive earnings in Bitcoin. In a Dec. 17 interview, Kevin Lee said the Russia-based Eagle Fighting Championship will pay him in BTC. Related: Crypto.com partners with Los Angeles’ Angel City Football ClubBillions of people watch sports, and crypto brands are leveraging the power of sports partnerships to target mainstream users.In one of the biggest crypto sports partnerships in Australia, the Aussie Rules women’s division called the AFLW has just secured a $25-million deal with Crypto.com. Crypto.com also secured a $700-million deal in mid-November to rebrand the Staples Arena i Los Angeles to the Crypto.com Arena for 20 years. The crypto company also signed hefty sponsorship deals with Formula 1 and the UFC as well in June and July, respectively. Cash App has formed partnerships with several National Football League players, including Los Angeles Rams wide receiver Odell Beckham Jr. and Green Bay Packers quarterback Aaron Rodgers. The partnership will allow them to receive their salary in BTC. Tampa Bay Buccaneers quarterback Tom Brady took an equity stake in FTX Trading and will receive crypto as part of the endorsement deal while acting as an ambassador for the crypto exchange. FTX also has deals with the Miami Heat and Major League Baseball.
  • Microsoft’s massive metaverse move: Buying Activision for $69B
    Cointelegraph.com News - 21 hours ago
    Following the Activision Blizzard acquisition announcement, Microsoft CEO and chairman Satya Nadella stated that gaming “will play a key role in the development of metaverse platforms.” Microsoft is acquiring gaming giant Activision Blizzard for $69 billion as part of a move to ramp up its gaming and metaverse plans. Activision Blizzard is home to a long list of iconic gaming franchises such as Call of Duty, Overwatch, Candy Crush, World of Warcraft and Tony Hawk’s Pro Skater. Following the deal, its games are set to be added to Microsoft Xbox’s Game Pass service, which has 25 million subscribers. According to a Tuesday announcement from Microsoft, the firm will acquire Activision Blizzard for $95.00 per share at a valuation of $68.7 billion. The deal is set to close in the 2023 fiscal year will see Microsoft become the third-largest gaming company in terms of revenue behind Riot Games owner Tencent and PlayStation developer Sony. Together with @ATVI_AB, we will usher in a new era of gaming that puts players and creators first and makes gaming safe, inclusive, and accessible to all. https://t.co/fF2Ig3gSfx— Satya Nadella (@satyanadella) January 18, 2022 Microsoft outlined that the acquisition will support the growth of its services across mobile, PC, console and cloud gaming and also notably stated that it will “provide building blocks for the Metaverse.” Microsoft CEO and chairman Satya Nadella said: “Gaming is the most dynamic and exciting category in entertainment across all platforms today and will play a key role in the development of metaverse platforms.” As part of the acquisition, Microsoft stated that Activision Blizzard CEO Bobby Kotick will remain at the helm until the deal closes, with the reins then being handed over to Microsoft Gaming CEO Phil Spencer. Spencer welcomed the deal via an Xbox blog post and emphasized the company is working to make cloud gaming accessible on as many devices as possible. He didn’t mention the metaverse or nonfungible tokens (NFT), however — sectors that have seen a backlash from some sections of the gaming community. “The fantastic franchises across Activision Blizzard will also accelerate our plans for Cloud Gaming, allowing more people in more places around the world to participate in the Xbox community using phones, tablets, laptops and other devices you already own,” Spencer wrote. Some sentiments I’ve heard from Activision Blizzard employees today:- Optimism about management changes and the positive culture at several Xbox-owned studios- Fury toward Microsoft for giving Bobby Kotick a big payday and soft exit- Determination to keep organizing— Jason Schreier (@jasonschreier) January 18, 2022 In November, Nadella first unveiled Microsoft’s metaverse plans via an upgrade to its “Teams” service and a product called “Dynamics 365 Connected Spaces.” The “Mesh” upgrade for Teams is set to introduce personalized digital avatars and immersive spaces to meet in the metaverse later this year. Nadella also stated at the time that people can “absolutely expect” to see Microsoft integrate metaverse features with the Xbox gaming consoles but didn’t divulge any concrete plans or specific details. Related: NFT-focused Animoca Brands valued at $5B following $358M raiseIt is unclear whether Microsoft’s metaverse play for Xbox will include the introduction of NFTs, with Spencer stating in November that he felt the experimentation happening in NFTs was more “exploitative than about entertainment.”Spencer noted that if the Xbox Store were to support NFTs, the company would actively weed out any nefarious behavior or content. Microsoft acquires another massive gaming company, the monopoly continues to grow as Sony scrambles to make their next power play, the console war is at an all time climaxMeanwhile, at Nintendo: pic.twitter.com/adJlrMQZLY— Colin (@IntroSpecktive) January 18, 2022 The Wall Street Journal reported last week that 100 employees from Microsoft’s augmented reality team have left the company over the past year to join metaverse competitor Meta (Facebook).
  • Reports Show Government Intends To Imply Stricter Regulations On Cryptocurrency ATMs
    NewsBTC - 1 hour ago
    In a press release yesterday, the federal agency stated that crypto kiosks, or cryptocurrency ATMs, played a major role in the increasing crimes. The United States GAO (Government Accountability Office) blames crypto kiosks for increasing drug trafficking and human trafficking. Their reason, however, was that cryptocurrency ATMs aren’t as restricted as crypto exchanges, making their transactions harder to track. The GAO projects that it can be more difficult to curtail illegal transactions as crypto kiosks are becoming more and more popular in the U.S. and worldwide. Related Reading | Altcoins Are Encroaching On Bitcoin’s Dominance On Digital Payments To salvage these impending problems arising from crypto kiosks, the GAO recommended that the Financial Crimes Enforcement Network (FinCEN) and IRS cooperate to place more effective regulations on crypto ATMs. While observing the challenges in battling crypto-related crimes, GAO explained that the lack of information about crypto kiosks restrains law enforcement’s capability to defeat crime. Several Agencies Battle Crypto Crimes In the report, GAO also observes how, globally, cryptocurrencies are used in facilitating crimes and trafficking. Also, agencies have arisen to resist the increase of crypto-associated crimes. These agencies include the Immigration and Customs Enforcement (ICE), U.S Postal Service (USPS), and even the Internal Revenue Service (IRS). The Irregularities of Crypto Crimes Although the study shows that crypto-related crimes have upsurged irregularly. Recently, a new report from the crypto research company showed the contrary. In the latter research’s findings, crypto crimes reached their lowest point in 2021-contrary to its increasing volume of the entire blockchain transactions in the year. Thus, as cryptocurrencies become more adopted, crypto-related crimes will simultaneously increase. However, the expansion of overall crypto transactions is far-outperforming some criminal activity. Crypto Kiosks And Human Trafficking The GAO’s report showed that cryptocurrency has recently been adopted as a means of payment for human trafficking. By ‘human trafficking,’ we imply sex trafficking and labor trafficking. More commonly, sex traffickers now adopt cryptocurrencies as a payment option. Crypto ATMs And Drug Trafficking The report also stated that after the shutdown of Silk Road-the online dark web market—in 2013, the entire hidden web marketplace has become more secure. Thus, making the marketplace for illicit drugs more difficult for the law to detect. Again, this is because of the growth of smaller marketplaces. Tightening Gaps Against Cryptocurrency ATMs The GAO’s problem with cryptocurrency ATMs is that, although the ATM operators must be registered with the FinCEN, they don’t usually notify law enforcement agencies about their ATMs’ locations. That action impedes the federal agencies’ access to locate ATMs in areas stated as high-risk regions for financial crimes. Related Reading | American Rapper Lil Baby On Holding Bitcoin And Ethereum Over Fiat Thus, by increasing regulations on cryptocurrency ATMs, the GAO presumes that enforcing the government will access better information. Also, they will be able to locate potentially illegal transactions. Featured image from Pixabay, chart from TradingView.com
  • India’s PM Calls For A Common Global Approach For Tackling Crypto
    NewsBTC - 2 hours ago
    At the WEF’s 2022 Davos agenda, Narendra Modi, Indian Prime Minister, called for a united global stand to tackle the issues emerging from the cryptocurrencies’ increasing adoption. The key takeaway of the Indian PM’s talk was, “A single country cannot tackle the challenges from crypto well enough.” Call For A Standard Global Approach Talking for all intents and purposes at the World Economic Forum’s 2022 Davos Agenda on Monday, the Indian Prime Minister discussed several challenges, including a requirement for a common global practice to deal with cryptocurrencies. He said at the WEF agenda; “The kind of technology that is associated with it, the decisions taken by a single country will be insufficient to deal with its challenges. We have to have a similar mindset.” Despite not having significant industry regulations and laws for protecting investors, crypto trading in India keeps gaining traction. Due to profoundly different perspectives of crypto industry representatives and financial sector regulators, the government plans to pass a bill in this challenging situation to protect investors better. The India PM added, “Cryptocurrency is an example of the kind of challenges we are facing as a global family with a changing global order. To fight this, every nation, every global agency needs to have collective and synchronized action.” Modi Government Undecided On Crypto Bill In December 2022, during the winter session parliament discussion, the crypto bill was the top priority for the debates. Still, the government could not finalize things because it could not stand firm on a few critical issues. Related Reading | India: A Back & Forth Affair With Cryptocurrency According to some sources, the government concluded that they would look for worldwide help figuring out a common approach. Still, the authorities have not yet confirmed why they failed to produce the bill to parliament. Total market cap at $1.977 trillion | Source: Crypto Total Market Cap on TradingView.com Modi’s Recent Speeches And The Crypto In the last quarter’s time span, the Indian Prime Minister has spoken at several world forums many times, but he never talked about this issue to the local audience in India. In November 2021, at the Sydney Dialogue, Modi, in his speech, forewarned that we must protect emerging tech from any mishandling. Likewise, during the US President Joe Biden-facilitated Democracy Summit, Modi said emerging technologies ought to ensure a majority rule system, not subvert it. Emphasizing his stance on the matter at the WEF’ Davos Agenda 2022, Modi noted, “He reiterated this stance during his WEF speech yesterday. “That’s why every democratic nation has the responsibility to bring about an emphasis towards reforms in these institutions to make them capable enough to deal with modern challenges in the future.” The event in question, Davos Agenda of the WEF, is being held from 17-21 this month, January 2022. Several state heads are lined up to address the event. Related Reading | How India Sees Crypto: Large Exchange Shows 10x Growth In User Base International organizations, top industry leaders, and civil society will also participate in the summit. It aims at the deliberations on critical challenges that the world faces today and discusses how to tackle them. Chart from TradingView.com
  • Google Pay Partners With Cryptocurrency Exchanges To Accept Their Digital Cards
    NewsBTC - 3 hours ago
    Another day, another massive company entering the cryptocurrency space. Google is making moves to boost up the profile of their Google Pay service, and, of course, crypto is in the mix. The company hired Arnold Goldberg, ex-Senior Vice President at PayPal, “to run its payments division.” That’s according to Bloomberg, who broke the story.  “The move is part of a broader strategy to team up with a wider range of financial services, including cryptocurrencies, said Bill Ready, Google’s president of commerce. The business, known for the Google Pay system and mobile wallet, has largely avoided the crypto industry.” Related Reading | Bitcoin Still Overtook Trump, VISA, PayPal, and Libra on Google Search in 2019 Until now, that is. The company is cautiously entering the cryptocurrency space and NewsBTC is here to tell you what you should know about it. Google’s Many Failures The company’s financial division hasn’t been the most successful. Their Google Pay service is far behind its competitors, and facing a crowded space with many players trying to get ahead. Recently, Alphabet Inc. partnered with 11 banks for an initiative called Plex, and canceled everything at the last second. “We’re not a bank — we have no intention of being a bank,” said the company’s president of commerce Bill Ready in a recent interview. On the other hand, the company has a lot going for it:  “Google does have enormous consumer reach and a huge balance sheet. The technology giant takes no fees on transactions with its mobile wallet, and Ready said there are no plans to change that.” Alphabet Inc. price chart on Nasdaq | Source: TradingView.com What Will The Company’s Crypto Play Consist Of? Let’s be clear about this, the technology giant is only testing the waters. They haven’t announced anything crazy, nor are they developing technology themselves. Still, it’s a great improvement from their “largely avoided the crypto industry” policy. What are they doing, exactly? “Google has partnered with companies, including Coinbase Global Inc. and BitPay Inc., to store crypto assets in digital cards, while still having users pay in traditional currencies. Ready said Google is looking to do more of these partnership, though the company still isn’t accepting crypto for transactions.” Since that’s a little vague, Yahoo! Finance elaborates on the matter: “Late last year crypto platform Bakkt said its virtual Visa debit card would be available for use on Google Pay online and in stores. Bakkt’s Google Pay support follows in the footsteps of Coinbase, which rolled out support for Apple Pay and Google Pay for its Coinbase Cards earlier this year. Google is also working with Bitpay and Gemini to support their crypto cards, meaning that people who use these cards can add them to Google Pay.” To further emphasize the lightness of the company’s crypto play, Bill Ready told Bloomberg: “Crypto is something we pay a lot of attention to. As user demand and merchant demand evolves, we’ll evolve with it.” How Did The Market React To Google ‘s Announcement? As soon as the article went live and the news started spreading through the Internet, both Bitcoin and Ethereum’s prices spiked for a little while. Then, as people read exactly what Google announced, the excitement wore off. The two leading cryptocurrencies have been trading horizontally, lightly trending downwards for a while. And this announcement wasn’t strong enough to change that. Related Reading | Coinbase Adds Option To Buy Crypto With Apple Pay, Google Pay To Follow Maybe it should’ve been, though. Featured Image by PhotoMIX-Company on Pixabay | Charts by TradingView
  • How Bitcoin Is Controlling The Ebb And Flow Of Crypto
    NewsBTC - 4 hours ago
    Latest data shows that so far in the year 2022, the rest of the crypto market has been moving in tandem with Bitcoin. Crypto Indexes Follow Bitcoin In January So Far As per the latest weekly report from Arcane Research, all the various indexes in the crypto market have mimicked BTC’s movements so far in the month of January. The “crypto indexes” here refer to groups of cryptocurrencies separated into these divisions on the basis of market cap. There are three main indexes, the “large cap index,” the “mid cap index,” and the “small cap index.” The below chart shows how these various groups have performed compared to Bitcoin in the year 2022 so far: Looks like monthly performance of the mid cap index has been the best so far | Source: The Arcane Research Weekly Update – Week 2 As you can see in the above graph, the various crypto indexes seem to be moving in tandem with Bitcoin in the year so far. Related Reading | 70% Of Bitcoin Supply Is In Profit – Why Bulls Need To Defend This Level BTC’s returns in January stand at double digits in the red at the moment, closely followed by the small cap index which also has 10% in losses. The large cap has also traced Bitcoin quite closely as its losses stand at 8% right now. The reason for its slight overperformance against BTC has been due to the strength of DOGE, NEAR, and ADA. While the mid cap index has also mimicked the moves made by BTC, its strength has been much more as its returns for the month are at just 2% in the red. Related Reading | Bitcoin Supply Shock: Only 12% Of BTC Supply Is On Exchanges Now The mid cap index has outperformed the rest of the market thanks to the strength of UNI and MATIC, two cryptos that account for about 20% of the total index. Bitcoin’s dominance has once again dropped in the last week as its share of the total crypto market cap now floats below 40%. The below table shows the percentage of the total market cap that the top coins occupy right now. BTC’s share of the market cap has taken a hit of 0.76% over the past week | Source: The Arcane Research Weekly Update – Week 2 Ethereum’s dominance has also dropped in the past week, while smaller altcoins have enjoyed a larger percentage of the market cap. BTC Price At the time of writing, Bitcoin’s price floats around $41.9k, down 2% in the last seven days. Over the past month, the crypto has dropped 10% in value. The below chart shows the trend in the price of BTC over the last five days. BTC’s price has mostly moved sideways in the last few days | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, Arcane Research
  • How Bitcoin Could Strengthen From A 10% Correction In The Stock Market
    NewsBTC - 5 hours ago
    The party across global market might be coming to an end with Bitcoin positioned to be one of the assets with the potential to come on top. The shift in the U.S. Federal Reserve monetary policy will ripple across the stock market as interest rates spike and they reverse their asset purchase program. Related Reading | TA: Bitcoin Reaches Key Juncture, Why Recovery Won’t Be Easy At least, that’s how Mike McGlone, Senior Commodity Strategist for Bloomberg Intelligence views it. In a recent interview with Scott Melker’s “The Wolf Of All Streets” podcast, McGlone talked about Bitcoin as a risk-on asset, inflation, and the potential correction that will hit markets because of the change in FED policy. The expert reminded investor of the old adagio “Don’t Fight the Fed” which in the current macro-environment could translate to “don’t long risk assets”. For Bitcoin, this shift could lead it to transform from a risk on to a risk off asset. McGlone said the following on the financial institution’s coming policies to decrease inflation, sitting at its higher levels in 40 years, and what it could mean for Bitcoin in the long run: (…) the lesson I learned about the FED, what I think is happening in this case, is that will job on until the market does their job for them or they have to keep raising rates until markets go backwards, which mean the stock market (…). I think the game is over (for stocks). They (the FED) will be restraining until markets tell them to stop, but I think Bitcoin will come up better off. In that sense, the expert predicted a massive 10% to 20% correction in the stock market which would result in a 1:1 correlation event with risk assets. This event’s impact on BTC’s price could be short live, as it could for Ethereum (ETH), but the altcoins sectors might be heavily hit with some of the latest popular cryptocurrencies returning to their previous lows. What Happened To The Bitcoin Bull-run? On the alleged correlation between Bitcoin and the stock market, McGlone claimed there is insufficient data to support this theory. The benchmark crypto, the expert said, has only been part of the mainstream for a few years. McGlone pointed out that Bitcoin (BTC) is one of the few assets with strong fundamentals, which are only getting stronger. The crypto asset’s supply is on a sustain decline, with a rising demand, and a reduction in volatility, “there is not too many asset that can say that”. Crypto dollars – #Crypto assets exemplify global free-market capitalism, and a top winner has been the dollar. Mainstays #Bitcoin, #Ethereum and crypto dollars are poised to stay atop the ecosystem vs. about 16,000 rivals jockeying for speculative leadership pic.twitter.com/rmqfs62ByA — Mike McGlone (@mikemcglone11) January 16, 2022 The first crypto by market cap has been stealing the shine from traditional hard assets, such as gold, while it increases its adoption levels, and it is included in some of the world’s largest companies’ balance sheets. Despite these facts, the price of Bitcoin seems to have made a full stop on its bullrun. However, McGlone believes the follow trough will come with time. At the moment, BTC adoption could be “burdensome” for large investors, but the expert expects time to become a headwind for the cryptocurrency. He added: I’m always skeptical of bull markets that are so extremely bullish, like the stock market right now (…). Then I look to this other asset (Bitcoin), it’s new, it’s just being adopted, demand is going up, supply is going down, which one do I want to be allocated to in the big picture? Related Reading | Bitcoin Millionaires Are Flocking To This North American Tax Haven. But What Do The Locals Think? As of press time, BTC’s price trades at $42,010 with sideways movement in 24-hours.
  • Spellfire Oversubscribed Twice, a Staggering $3.8M Raised
    NewsBTC - 6 hours ago
    Spellfire Re-Master the Magic, a modern take on classic collectible card games, has completed its private funding round, raising a staggering $3.8 million. Leading investors DAO Maker and Shima capital, are joined by Genblock, IBC group, Faculty group, IBA, Maven Capital, Autonomy Capital, Terranova ventures, x21 Digital and others who initially funded the project, and interest has since skyrocketed past all initial funding goals. The project is now close to being oversubscribed twice, marking a huge success for Spellfire’s development team, and leaving many of the industry’s top VC investors waiting in the wings. Continued expansion of Spellfire’s reach is now a top priority, and the project recently welcomed two highly respected crypto experts into its family. BitBoy Crypto and The Moon Carl join to ensure Spellfire becomes one of blockchain gaming’s hottest topics! Spellfire’s long-awaited, and much-anticipated Token Generation Event is coming soon and the team is almost ready to announce the huge news. Spellfire has Mass Appeal Prospective players can expect to find a beloved fantasy game that the development team has combined with modern design sensibilities. Spellfire now boasts a host of features that will appeal to a wide range of gamers, making it the NFT game to look out for. The game initially caught attention by announcing the first-ever touchable NFTs. Players will have the option to own both digital and physical cards with both forms being linked by QR code. This ensures that they can’t be faked and are playable on both tabletops and tablets. 2021 saw a meteoric rise in the popularity of Play-to-Earn games. Spellfire offers several ways to earn, the most notable is through owning NFT cards. Original NFT card owners will receive up to 10x return on investment from each subsequent sale of their card. The more sought-after the card, the more profitable it will become. Mass Adoption of NFTs is Close The gaming industry’s interest in NFTs continues to grow, as does its audience. The NFT space saw impressive results in 2021, with 1.4 million unique active wallets interacting with games,  accounting for 49% of the industry’s usage. Game NFTs represent 20% of 2021’s $23 billion in NFT trading volume. Mass adoption of NFTs within the gaming industry looks increasingly likely this year and as this movement continues to gain momentum, games like Spellfire look set to capitalize on the influx of new players. Join the magic, explore Spellfire’s magical universe.    
  • Solo Ethereum Miner Hits The Jackpot With 170 ETH For Mining A Block
    NewsBTC - 6 hours ago
    A solo Ethereum miner has just gotten what could be described as the lucky break of a lifetime after mining a single ethereum block that netted them a reward that ran into the hundreds of thousands of dollars. While ethereum’s mining difficulty is not as high compared to bitcoin, it is still a difficult, energy and computationally intensive process that discourages the average person. However, a lot of solo miners remain in the ethereum ecosystem and continue to make a profit from their mining activities. Although not all of the miners get to mine a single block that delivers a reward with life-changing money. Such is the case of the solo miner in this report after solving a block that netted them about 170 ETH in rewards. Ethereum Miner Gets Over $500K Reward A report from BeInCrypto outlined the activity of a solo ethereum miner that saw an incredible block reward go to the miner. The miner who had found a block and then proceeded to mine it independently got a total of 170.65 ETH in rewards for this. The value of the ETH at the time it was rewarded was roughly $540,000 in rewards which went to this miner. Related Reading | Altcoins Are Encroaching On Bitcoin’s Dominance On Digital Payments Compared to the average reward per block mined in ethereum which is about $13,000, this is no doubt an impressive win for the miner, who has received what is no doubt one of the highest block rewards on the network. ETH price trading south of $3,000 | Source: ETHUSD on TradingView.com Mined on Monday January 17th, the miner got the spoils of their victory in a block that contained 236 transactions, all mined by a solo miner in about 9 seconds. Finding and mining a block like this on the ethereum network is hard and grows increasingly harder as more miners set up operations. Finding one with a block reward of more than 170 ETH is even more unlikely, making this akin to winning the lottery on the part of the miner. Following With Bitcoin Although it can be difficult for a solo miner to find and mine blocks all by themselves, receiving the full reward, it is not unheard of that small-time miners have claimed such coveted reports. This happens across various blockchains and ethereum is no exception. Related Reading | American Rapper Lil Baby On Holding Bitcoin And Ethereum Over Fiat Bitcoin, which features arguably one of the highest mining difficulties, has seen events like these take place. Last week, Bitcoinist reported that a small-time bitcoin miner had beaten the odds to mine a block all by themselves. This netted them the entire block reward of 6.25 BTC, as well as the transaction reward. In total, the miner made over $267,000 from that single block mined. The same had also occurred a year prior where Dr. Kolivas, a software engineer that helped develop the CGMiner, recalled that a small-time miner with a low hash rate had also been able to mine a block by themselves and received the full block reward. Featured image from Zipmex, chart from TradingView.com
  • DIA is the First Oracle to Integrate with Astar Network
    NewsBTC - 9 hours ago
    DIA is the first oracle provider to integrate its oracle infrastructure with the Astar Network, running on the Polkadot Relaychain. The oracle deployment will facilitate DeFi applications on Astar to easily connect to the outside world data. The open-source data provider DIA announced today the integration of its decentralized oracle infrastructure with the Astar Network, running on the Polkadot Relaychain. This oracle deployment will facilitate DeFi applications on Astar to easily connect to the outside world data via DIA’s trusted oracles. Astar Network, previously known as Plasm, is a dApp hub on Polkadot that supports Ethereum, WebAssembly, and layer 2 solutions like ZK Rollups. Astar Network won the 3rd Polkadot parachain auction on December 2, 2021, and onboarded to the Polkadot Relay Chain on December 18, 2021. As the Polkadot Relay Chain doesn’t support smart contracts, Astar is working to provide a solution for all developers by parachain where EVM and WebAssembly smart contracts can co-exist and communicate with each other. Thanks to Astar’s Ethereum and WebAssembly compatibility, DeFi applications can seamlessly be deployed on Astar’s parachain, where DIA will be able to feed them with accurate and transparent market data. DIA’s price feed oracles will fuel a range of use cases, such as lending and borrowing protocols, stablecoins, staking rewards and many more. To build the data feeds, DIA simultaneously aggregates price data at a very trade level directly from centralized and decentralized exchanges. This decentralized approach to data sourcing enables DIA to provide accurate price feeds on-chain and reduce exposure to data manipulation.
  • Bitcoin ATMs Shut Down In Singapore After MAS Curbs Crypto Advertising
    NewsBTC - 10 hours ago
    Financial service regulator – Monetary Authority of Singapore has issued fresh guidelines to limit crypto trading by the public. It has also taken a firm stance and asked cryptocurrency companies to eschew advertising or showcasing their products to the general public. MAS substantiated their decision by stating reasons which were purely risk-oriented. The guideline stated and clarified that Digital Payment Token service providers “should not portray the trading of DPTs cryptocurrencies in a manner that trivializes the high risks of trading in DPTs, and should not promote their DPT services in public areas in Singapore or through any other media directed at the general public in Singapore”.  “Highly Risky And Not Suitable For The General Public” The Central Bank affirmed that such services are “highly risky and not suitable for the general public”. It implied that the broadcasting of cryptocurrency through traditional media such as newspapers and magazines must also cease to exist.  On Tuesday, MAS declared that it would be outlawing crypto-to-cash terminals, thus, sealing all crypto ATMs in Singapore. Daenerys & Co,  which is one of the biggest crypto ATM operators with five crypto ATMs spread across the city had acted in accordance with the guidelines. Another rival ATM operator, Deodi also complied with the Central Bank’s order and ceased its only ATM.  Related Reading | Intel To Present Low Voltage, Energy Efficient Bitcoin Mining Chip At Conference This recent regulatory clamp from the MAS cropped up amidst the growing popularity of the blockchain industry with new investors joining the ecosystem each day. Although MAS quoted that “MAS strongly encourages the development of blockchain technology and innovative application of crypto tokens in value-adding use cases.”; the cryptocurrency market in Singapore continues to reel under a significant number of regulatory milestones. Recently, Coincub, a fintech start-up in one of their rankings, called Singapore the world’s most friendly cryptocurrency economy. Singapore in the past had been quite liberal in terms of cryptocurrency adoption with an undemanding and positive legislative environment. Currently, the reality looks quite different, so to say. Bitcoin’s growth is concerning regulators | Source: BTCUSD on TradingView.com MAS Believes Bitcoin ATMs Let People Trade “On Impulse” MAS believes that ATMs facilitated a seamless and convenient transaction of cryptocurrencies such as Bitcoin and Ethereum. This could cause people to trade “on impulse”. This notion caused regulators to mandate the clampdown of ATMs all across the city. In regards to crypto regulations, Singapore isn’t the only name on the list. In December 2021, Britain outlawed advertisements from seven such crypto firms as they were  “irresponsibly taking advantage of consumers’ inexperience and for failing to illustrate the risk of the investment”. Spain had also led a crackdown on cryptocurrency promotions recently. Singapore’s regulatory escalation comes after Bitcoin’s prices nosedived almost 40% after BTC soared to new heights in November 2021.  Related Reading | Green Energy: In NY, Bitcoin Mining Saved The Oldest Working Hydroelectric Plant Cryptocurrency is not only a volatile asset but has also enabled a wide spectrum of fraud associated with digital assets. In recent times, cryptocurrency has facilitated money laundering and terrorism funding among other illegal activities. “Digital payment token service providers in Singapore have to comply with requirements to mitigate such risks, including the need to carry out proper customer due diligence, conduct regular account reviews, and monitor and report suspicious transactions,” stated MAS spokesperson. Featured image from iStockPhoto, Charts from TradingView.com
  • Phemex to List Smooth Love Potion (SLP) As Their Latest Metaverse Endeavor
    NewsBTC - 12 hours ago
    Crypto trading and investment platform Phemex is making strides to deliver on its mission to build and support the metaverse. The full-service crypto exchange was launched in 2019 and has already built out a bevy of tools. In a short amount of time, Phemex is already approaching 100 total spot and contract pair offerings. Now, the platform continues to show its support of the metaverse by listing the Axie Infinity-based token SLP. In addition, Phemex is hosting a special Metaverse edition of their popular Grab a Coin Campaign where users can join to win SLP. The platform’s latest “Choose Your Reality” campaign kicked off its focus on metaverse-related projects. Now Phemex expands upon that initiative by listing the Axie Infinity-powered token, Smooth Love Potion (SLP). The move comes after Phemex already introduced support for two other metaverse-based tokens in recent months: native Axie Infinity platform token AXS, and Decentraland’s MANA token. The exchange has also introduced their own virtual reality GameFi product and hosts a deep-dive brief on everything you need to know about Axie Infinity on the Phemex Academy. The announcement to support SLP shows Phemex’s prolonged interest in metaverse-based products and platforms. SLP is an ERC-20 token that is earned by playing Axie Infinity and winning battles against other players. It can be used to breed new Axies. Additionally, SLP can act as incentives for Axie Infinity players who reach certain levels, and SLP can also be used to buy and sell items outside of Axie Infinity. While SLP had to be previously earned through in-game battles, increased accessibility of SLP courtesy of Phemex will allow the Axie environment to grow and develop even further. Axie Infinity has served as the ‘face’ of play-to-earn thus far, as the landscape continues to grow and expand. 2021 proved to be a massive growth year for Axie Infinity and many other play-to-earn and metaverse products. This bodes well for the longevity and innovation in our constantly-growing digital worlds. Through its SLP listing, Phemex shows clear belief in the emergence of the metaverse, as well as other relevant initiatives like GameFi, play-to-earn, and NFTs.    
  • SCRT Labs Launches $400 Million Fund to Bolster Privacy Network’s Ecosystem and Application Layer
    Bitcoin News - 1 hour ago
    On Wednesday, the Secret Network announced the launch of a $400 million fund in order to expand the application layer and provide grants to ecosystem participants that accelerate user adoption. The market capitalization for the network’s native token SCRT is the third-largest privacy-centric crypto asset market today with a $1.4 billion market cap. SCRT Labs […]
  • Dvision Network Deploys on Polygon Mainnet as Widespread Interest in Metaverse Continues
    Bitcoin News - 1 hour ago
    PRESS RELEASE. Dvision Network is currently live on Polygon Mainnet, further solidifying their position as the definitive multichain metaverse protocol. It must be noted that Dvision Network recently had their first primary and de facto biggest LAND Sale on BSC (Binance Smart Chain), selling out in a matter of minutes across three platforms which included […]
  • Bitcoin Dominance Increases, ETH’s Market Share Slides, Stablecoin and Smart Contract Coins Rise
    Bitcoin News - 3 hours ago
    On Wednesday, the crypto economy of 12,620 coins across 543 exchanges is hovering just above the $2 trillion mark. Ever since the crypto economy’s market slump, bitcoin’s market dominance among all the coins in existence has slowly risen from 37% zone back over the 38% range. Meanwhile, Ethereum’s market dominance has diminished as it has […]
  • Ethereum Fees Drop 35% Since Last Week, Average ETH Gas Fee Still Above $30 per Transfer
    Bitcoin News - 5 hours ago
    According to statistics, Ethereum network transaction fees have dropped 35% from the transfer fees recorded seven days ago. At the time of writing, the average fee to transact with ethereum is 0.0099 ether or $30.85 to $33.04 per transfer. The cheapest Layer two (L2) method to transfer ether on Wednesday is $0.25 per transaction using […]
  • US Senator’s Inflation Report Says ‘Its Only Going to Get Worse,’ Truflation Oracle Reveals True Inflation Rate
    Bitcoin News - 7 hours ago
    America’s media, central bankers, and bureaucrats continue to debate the rising inflation in the U.S. that has raised the cost of living and increased the prices of goods and services nationwide. Senator Rand Paul, R-Ky., believes the inflation is “only going to get worse” and he published a report on the issue and blamed excessive […]
  • Cryptocurrency ATMs Close Down in Singapore Following Central Bank’s Announcement
    Bitcoin News - 9 hours ago
    Cryptocurrency ATMs have closed down in Singapore following the guidelines issued by the central bank, the Monetary Authority of Singapore (MAS). “To comply with the sudden announcement, we have ceased to offer buy or sell services via our five ATMs while seeking further clarification from the MAS,” said one crypto ATM operator. Crypto ATMs Shut […]
  • How GAIMIN Is Supporting Metaverse and Web 3.0 Ecosystems
    Bitcoin News - 9 hours ago
    Facebook changes its name to Meta and the world suddenly becomes interested in the metaverse however the term has been around for some time, and is closely associated with Web 3.0. So what is Web 3.0, the Metaverse and how is GAIMIN involved? Web 3.0 Web 3.0 is the term used to describe the next […]
  • Bitmex Acquiring German Bank to Create ‘Regulated Crypto Powerhouse’ in Europe
    Bitcoin News - 11 hours ago
    Crypto exchange Bitmex is acquiring a German bank to create “a regulated crypto powerhouse.” The company plans to establish “a one-stop shop for regulated crypto products in Germany, Austria, and Switzerland.” Bitmex Plans to Become a Regulated Crypto Powerhouse Cryptocurrency exchange Bitmex announced Tuesday a purchase agreement of Bankhaus von der Heydt, a German bank […]
  • Gold Miner Says Investors Prefer Hedging Against Inflation With Gold, Not Crypto
    Bitcoin News - 13 hours ago
    The CEO of a Canada-headquartered gold mining company, Mark Bristow, has insisted that gold currently has little downside risk. He also highlighted the precious nature of the metal and how it is a better alternative store of value than cryptocurrencies. Better Inflation Hedge Mark Bristow, the CEO of Canada-based Barrick Gold Corp., recently argued that […]
  • Crypto Miner Convicted in Russia for Allegedly Stealing Power to Mint Digital Coins
    Bitcoin News - 15 hours ago
    A regional court has sentenced a man accused of illegally connecting his crypto farm to the grid to two years in prison. The decision comes as authorities in Moscow prepare to address the lack of proper regulations for cryptocurrency mining, which has become a popular source of income in Russia. Illegal Crypto Farm Burns 1.3 […]
  • Will This Event Send Cardano To The Bears Again? Or Will Cardano Hop Onto The Bandwagon Led By The Bulls?
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 2 hours ago
    The post Will This Event Send Cardano To The Bears Again? Or Will Cardano Hop Onto The Bandwagon Led By The Bulls? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide The cryptoverse is curious over a major event, which this time around is from the stable of Cardano. The curiosity is justifiable as it come from a major blockchain of the industry. Which has been under the gloom for a better part of the last quarter, owing to its Alonzo hard fork upgrade. Which was …
  • Fantom(FTM) Price Eye’s at a New ATH In Next 24 Hours, But Will the Market Sentiments Remain Bullish?
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 6 hours ago
    The post Fantom(FTM) Price Eye’s at a New ATH In Next 24 Hours, But Will the Market Sentiments Remain Bullish? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide Fantom crypto suddenly rose into fame due to its speed and low cost which fetched more than $7 billion TVL on its platform. Ethereum based AMM & DEX SushiSwap has also launched on the Fantom platform citing its massive adoption. Currently, the crypto is all set to slice through the current ATH and range towards …
  • Big Day For Cardano ! What Can ADA HODLERS Expect On January 20th
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 7 hours ago
    The post Big Day For Cardano ! What Can ADA HODLERS Expect On January 20th appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide Can Cardano Maintain Its Rally? Cardano goes ‘full send’ with 50% The crypto market is once again painted in red, and Bitcoin’s price is no less than a suspense thriller movie these days, with the commodity plunging hard below $41,000 whenever a breakthrough above $43,000 is near.  Despite a world-record-breaking token burn, the price of …
  • Crypto Market To Plunge Harder In Coming Days? Bitcoin Price (BTC) to Bottom Out at $38k
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 7 hours ago
    The post Crypto Market To Plunge Harder In Coming Days? Bitcoin Price (BTC) to Bottom Out at $38k appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide On Wednesday, cryptocurrency prices fell as the overall market fell by more than 2%, bringing the total market capitalization below $2 trillion. According to CoinMarketCap, the global crypto market is now worth roughly $1.95 trillion, after peaking at close to $3 trillion in mid-November. This drop comes as US Treasury yields reached two-year highs, causing …
  • Is This The Reason Why Metaverse And NFTs Have Been Failing In Uplifting The Crypto Market?
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 8 hours ago
    The post Is This The Reason Why Metaverse And NFTs Have Been Failing In Uplifting The Crypto Market? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide The cryptosphere has been missing its flight to the stratosphere, as the business has been grounded from euphoric flights. In the midst of the burdening market cycle, which has slashed the valuation of the market by a trillion. Consecutively, the industry’s market cap has lost its threshold at $2.0 Trillion again. And is presently at …
  • Despite Record Break Burn, Why Ethereum Is Facing a Lull In Terms Of Price Action?
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 8 hours ago
    The post Despite Record Break Burn, Why Ethereum Is Facing a Lull In Terms Of Price Action? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide The core problem of any true Ethereum fan would be the terrible gas fees. But this misconception could be alleviated if traders start to realize how layer 2 solutions created for the star altcoin would reduce the high gas fees. As fewer users are aware of the same, ETH price failing to take off despite …
  • Shiba-Inu and Coinmarketcap to Resolve Wormhole Issues?
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 8 hours ago
    The post Shiba-Inu and Coinmarketcap to Resolve Wormhole Issues? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide The wormhole contracts disagreement between Shiba Inu developers and the CoinMarketCap team has been settled amicably. The meme coin’s official Twitter page revealed that talks between the two sides are still ongoing. A thorough account of the occurrence was also presented. What Exactly Happened? The confusion began when the official Shib account issued a formal …
  • Despite the Bearish Trend, It is Quite Possible for the Cardano(ADA) Price to Hit $3.2!
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 9 hours ago
    The post Despite the Bearish Trend, It is Quite Possible for the Cardano(ADA) Price to Hit $3.2! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide The crypto market is again painted red as its sailing in a deep sea with the recent outperformers like Cardano has also flipped the bullish trend. The ADA price had both the opportunity to leap long, else fall into a deep well. Yet the asset chose to plunge down and test the immediate support levels. …
  • Polkadot(DOT) Might Plunge More Than 50%, While Chainlink(LINK) Price is Ready To Surge Above $30!
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 10 hours ago
    The post Polkadot(DOT) Might Plunge More Than 50%, While Chainlink(LINK) Price is Ready To Surge Above $30! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide After recording a notable plunge since the early trading hours, the crypto space is attempting for a notable rebound at the press time. Bitcoin has just risen from a loss of more than 3% to a gain of just 0.32%. And hence a notable bounce may be expected in the next couple of hours where …
  • Is Dogecoin in Danger? DOGE Price Awaits A Resilient Run Or a Rug-Pull
    Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide - 11 hours ago
    The post Is Dogecoin in Danger? DOGE Price Awaits A Resilient Run Or a Rug-Pull appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide The cryptoverse is back below the $2 trillion psychological mark, with 2.98% negative gains round the clock. The market leaders Bitcoin and Ethereum appear to be in no mood to get back to their price action as they had negative gains of over 2% in 24 hours. In the interim, distressing Dogecoin news is coming …
  • The Many Robust Features Of The Exohood Ecosystem
    ZyCrypto - 1 hour ago
    Many may think of Exohood as another cryptocurrency platform that has just been launched. However. It is much more than that. It is a complete financial ecosystem that provides crypto services and solutions and is most suitable for crypto investors. With Exohood, you can buy, sell and trade cryptocurrencies, create your own token, NFT marketplace, […]
  • Cardano-based Stablecoin ADADAO to Hold Public Sale on KICK.IO
    ZyCrypto - 1 hour ago
    The rapid growth of the Cardano Network is something to be reckoned with. However, the absence of a stablecoin is a challenge as many investors are still afraid of the volatility inherent in crypto. To solve this problem, a new stablecoin based on Cardano, ADADAO is launching and will be holding a public sale on […]
  • About Trading Derivatives in 2022: How and Where to Do It
    ZyCrypto - 2 hours ago
    Trading instruments can be a profitable activity. The problem is finding great instruments to trade on the best platforms. Without information, traders who fulfill the function of keeping capital flowing within asset spaces can’t decipher and choose these. For the crypto space, traders keep assets moving and liquid. They maintain the volatility we know the […]
  • Gaming Leads the Way into the Metaverse – But Beware the Challenges of Web2.0
    ZyCrypto - 2 hours ago
    The battle for the metaverse is on, and all kinds of brands are throwing their hat into the virtual ring. Recently, Walmart became the latest firm to hit the headlines after news broke that it’s planning to launch its own cryptocurrency and range of virtual goods based on NFTs. It joins tech giants including Facebook […]
  • Bitcoin Flashes Ultra-Bullish Signal Following “First Selloff” Wave In Current Cycle
    ZyCrypto - 2 hours ago
    Key Takeaways Bitcoin’s four-wave cycle is poised to enter the fake top wave according to BTC market pundits.  The current wave gauges BTC at $100k-$220k by 2023. The speculation is highly bullish, but may not still play out. Bitcoin, the benchmark cryptocurrency has shown prospects that it is still very reassuring to look ahead. In […]
  • What Happens To Miners After The Last Bitcoin Has Been Mined? — Big Reveal
    ZyCrypto - 3 hours ago
    Bitcoin’s fixed supply makes it a possible good inflation hedge, according to pundits.  By 2140, mining blocks will no longer yield a block reward.  John Cantrell believes that the hash power generated would still be enough to secure the network.  Bitcoin is one of the most valued cryptocurrencies and, indeed, the one with the largest […]
  • PEJ Launches First Wearable NFTs With Access To The Exclusive Metaverse And Real-Life VIP Events
    ZyCrypto - 5 hours ago
    PEJ, an entertainment NFT that aims to facilitate a decentralized payment network and financial infrastructure development has announced the launch of the first wearable NFTs. In a bid to contribute to the vast growing blockchain technology, PEJ has introduced the first wearable NFTs designed in the form of a wearable PEJ hoodie. The PEJ wearable […]
  • Shiba Inu, Ether, and DOGE Are Slowly Eating Into Bitcoin’s Multi-Billion Dollar Payments Sphere
    ZyCrypto - 6 hours ago
    Altcoins and stablecoins have downsized Bitcoin’s dominance as a means for paying for goods and services online by 27%. This is according to a new report released by Bloomberg, citing data from BitPay. According to BitPay, Ether accounted for 15% of all global payments at merchant stores while stablecoins accounted for 13%. Dogecoin, Shiba Inu, […]
  • EU Securities Watchdog Urges Regulators To Ban Proof-of-Work Mining Used By Bitcoin
    ZyCrypto - 7 hours ago
    One key official in the European Securities and Markets Authority (ESMA) is calling for a prohibition of proof-of-work mining, a computationally intensive process that is critical to cryptocurrencies such as Bitcoin, Ethereum, and other forked altcoins. EU Regulator Pushes Proof of Work Mining Shutdown The vice-chair of the European Securities and Markets Authority, Erik Thedéen, […]
  • Ertha Token Listing On Kucoin
    ZyCrypto - 8 hours ago
    Ertha Metaverse, one of blockchain gaming’s most talked about metaverses has today announced the listing of their ERTHA token on one of the top crypto exchanges – KuCoin. KuCoin, which has over 10 million users globally, is an ideal partner for Ertha. It is not only one of the best Altcoin exchanges, but it also […]
  • Cardano, Polkadot, Bitcoin, and Dogecoin Poised For Huge Rebound – What To Expect In The Near Term
    ZyCrypto - 9 hours ago
    Markets are showing signs of recovering from last week’s lows.  BTC, ADA, DOT, and DOGE started the week well. Discussions on the environmental impacts of mining this week may cause market reactions.  Following last week’s slump, markets are beginning to look up again. Assets like Bitcoin, Cardano, Polkadot, and DOGE have begun their slow, steady […]
  • The Future of Canada is Crypto As Canadians Favour Crypto Paychecks Over Loonie, Survey Reports
    ZyCrypto - 9 hours ago
    62% of Canadians fancy a crypto paycheck. Over 50% of crypto owners reportedly began showing interest in digital currencies during the 2020 pandemic. BTC, LTC, ETH, ADA and DOGE top the most owned assets in Canada.  A recent report by the Canadian software review company, Capterra, has revealed that a growing number of Canadians are […]
  • CELENFT Debuts Celebrity-Focused NFT Platform
    ZyCrypto - 10 hours ago
    CeleNFT, a blockchain-based startup built to allow potential and existing celebrities to easily create and sell NFTs without any technical expertise is set to go live according to a recent announcement. It appears that NFTs are becoming fleet-footed considering the massive rate of interest and adoption it has gained in the last few months. Since […]
  • NFT-based P2E Game ‘Heroes of NFT’ Launches On Avalanche
    ZyCrypto - 10 hours ago
    Metaverse game Heroes of NFT is announcing the launch of its collectible card game on the Avalanche blockchain. Players can now create their Metaspheres, roam the universe, interact with each other, and trade Avalanche NFTs. Players also get to earn while battling in the game’s arenas and tournaments using distinct hero cards. All gamers are […]
  • Shark Tank Investor Kevin O’Leary Says Solana (SOL), Polygon (MATIC) and Hedera (HBAR) Have ‘Large’ Potential
    The Daily Hodl - 2 hours ago
    Shark Tank star and billionaire investor Kevin O’Leary sees several leading altcoins that he believes have the potential to add problem-solving value as the blockchain world expands and evolves. In an interview with Anthony Pompliano on The Best Business Show, O’Leary says cryptocurrencies should be viewed as functional “software” rather than simply alternate forms of […] The post Shark Tank Investor Kevin O’Leary Says Solana (SOL), Polygon (MATIC) and Hedera (HBAR) Have ‘Large’ Potential appeared first on The Daily Hodl.
  • Major Spikes Could be Coming for Binance Coin (BNB), Axie Infinity (AXS), Monero (XMR) and Four More Altcoins: Santiment
    The Daily Hodl - 2 hours ago
    Crypto intelligence firm Santiment says that significant price spikes could be coming for seven different altcoins based on under-the-radar data. Santiment says that an excessive number of short-sellers are piling into altcoins, raising the probability of an incoming short squeeze. A short squeeze occurs when a large number of traders try to short an asset, […] The post Major Spikes Could be Coming for Binance Coin (BNB), Axie Infinity (AXS), Monero (XMR) and Four More Altcoins: Santiment appeared first on The Daily Hodl.
  • Cardano (ADA) Metaverse Launches With Thousands Investing in Its Digital Real Estate
    The Daily Hodl - 3 hours ago
    Play-to-earn gaming and non-fungible token (NFT) project Pavia is premiering on the Cardano (ADA) network months after the fifth-largest blockchain by market cap rolled out smart contract features. In a press release, Pavia says that it is the “first Cardano metaverse,” a virtual reality space that allows real-world activities and forms to be replicated digitally. […] The post Cardano (ADA) Metaverse Launches With Thousands Investing in Its Digital Real Estate appeared first on The Daily Hodl.
  • Bitcoin (BTC) Running Out of Time To Save Bull Market: Veteran Trader Tone Vays
    The Daily Hodl - 4 hours ago
    Veteran trader Tone Vays says Bitcoin (BTC) needs to finish the week strong or it risks experiencing another liquidation candle. In a new strategy session, the seasoned crypto analyst tells his 119,000 subscribers that he remains optimistic about Bitcoin’s chances of recapturing the $49,000 level, but the clock is ticking for the king crypto to […] The post Bitcoin (BTC) Running Out of Time To Save Bull Market: Veteran Trader Tone Vays appeared first on The Daily Hodl.
  • SAVAGE Signs Paul Nicklen in a Deal That Shows Crypto Can Be Eco-Friendly
    The Daily Hodl - 4 hours ago
    January 19, 2022 – Los Angeles, California The photography and video NFT marketplace SAVAGE has signed legendary photographer and videographer Paul Nicklen as a contributor and advisor to the project. Paul is a Canadian photographer, filmmaker and marine biologist who has documented the beauty of the earth for over twenty years and lives a life […] The post SAVAGE Signs Paul Nicklen in a Deal That Shows Crypto Can Be Eco-Friendly appeared first on The Daily Hodl.
  • Ethereum Oversold and Due for a Bounce, According to InvestAnswers – Here’s Why
    The Daily Hodl - 4 hours ago
    A popular crypto analyst says that leading smart contract platform Ethereum (ETH) is oversold and primed for recovery. In a new strategy session, the host of InvestAnswers tells his 402,000 YouTube subscribers that the second largest crypto asset by market cap is flashing signals that indicate a price spike is near. The analyst points out […] The post Ethereum Oversold and Due for a Bounce, According to InvestAnswers – Here’s Why appeared first on The Daily Hodl.
  • Polygon Starts Burning MATIC Tokens After Successfully Implementing Ethereum (ETH) Update
    The Daily Hodl - 5 hours ago
    The layer-2 scaling solution Polygon (MATIC) has successfully implemented a much-publicized Ethereum (ETH) update and is now burning native MATIC tokens. Ethereum Improvement Proposal 1559 (EIP-1559) went live on the Polygon mainnet on Thursday, occurring on Block #23850000. EIP-1559 first introduced a highly anticipated fee-burning mechanism into the Ethereum network in August, meaning that each […] The post Polygon Starts Burning MATIC Tokens After Successfully Implementing Ethereum (ETH) Update appeared first on The Daily Hodl.
  • Next-Generation Privacy Infrastructure Provider Nym Introduces Cosmos-Based Blockchain ‘Nyx’
    The Daily Hodl - 5 hours ago
    January 19, 2022 – Neuchâtel, Switzerland Global mixnet rollout commences with general purpose smart contract blockchain and Swisscom partnership. Privacy infrastructure startup Nym Technologies has commenced another step toward its fully functional mainnet launch. The Nym team has generated the first block for its Nym mainnet on the blockchain ‘Nyx,’ and the team is now […] The post Next-Generation Privacy Infrastructure Provider Nym Introduces Cosmos-Based Blockchain ‘Nyx’ appeared first on The Daily Hodl.
  • Crypto Self-Custody Challenger NGRAVE Raises $6 Million Seed Round
    The Daily Hodl - 6 hours ago
    January 19, 2022 – Zonhoven, Belgium NGRAVE, the Belgian-based ‘coldest’ crypto hardware wallet provider, has completed a seed round fundraiser to the tune of $6 million. The ‘coldest wallet’ creator noted strong interest from renowned DeFi and web 3.0 investors, including Woodstock Fund, Morningstar Ventures, DFG Group, Spark Digital Capital, Moonrock Capital, Mapleblock Capital and […] The post Crypto Self-Custody Challenger NGRAVE Raises $6 Million Seed Round appeared first on The Daily Hodl.
  • First-Ever NFT Collection of Mobile Legends: Bang Bang Now Available on Binance NFT Marketplace
    The Daily Hodl - 6 hours ago
    January 19, 2022 – Singapore, Singapore Mobile Legends: Bang Bang (MLBB), a mobile multiplayer online game, has released its first-ever NFT collection, The Aspirants – now available on Binance NFT marketplace from 11:00 AM UTC on January 19, 2022. Binance NFT – the NFT marketplace of Binance, the world’s leading blockchain and cryptocurrency infrastructure provider – offers an […] The post First-Ever NFT Collection of Mobile Legends: Bang Bang Now Available on Binance NFT Marketplace appeared first on The Daily Hodl.
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