Cryptocurrency News

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  • Bitcoin News - 29 January 2022, 12:30 pm

    According to the chief executive officer (CEO) of the United Arab Emirates-based financial institution, Bank of Sharjah, blockchain and cryptocurrencies are not only difficult to regulate but are also here to stay. Despite this prediction, the CEO admits that many in the banking industry still do not fully understand this technology. A Revolutionary Technology The […]Read More

  • Bitcoin News - 29 January 2022, 10:30 am

    Nansen, a cryptocurrency and blockchain statistics and analytics platform, has issued a report on the growth of decentralized finance (defi) in 2021. The document highlights how defi managed to keep growing, opening the field to new participant chains. Non-fungible tokens (NFTs) also had a notable year, with many new wallets experiencing growth as a result. […]Read More

  • News - 29 January 2022, 9:15 am

    Etherscan is a block explorer and analytics platform that allows you to access details on any Ethereum blockchain transactions that are pending or confirmed. Etherscan is the most trusted tool for navigating through all the public data on the Ethereum blockchain and is sometimes called “Ethplorer.” This data includes transaction data, wallet addresses, smart contracts and much more. The application is self-contained and is neither sponsored nor administered by the Ethereum Foundation, which is a non-profit organization.The team behind Etherscan includes seasoned developers and industry professionals, who developed the Etherscan app to make the Ethereum blockchain more accessible to everyday users. Although Etherscan is a centralized platform, the app does make it easier for people to search through the Ethereum blockchain.Is Etherscan a wallet?Etherscan is not an Ethereum wallet, nor is it a wallet service provider. Users don’t receive an Etherscan wallet when they search the Ethereum blockchain on…Read More

  • Bitcoin News - 29 January 2022, 8:30 am

    Leading investment bank JPMorgan has changed its view on the estimate of bitcoin’s price on a long-term basis. The institution had estimated a long-term price of $146K back in November when bitcoin was over $60K. One of the most important reasons for this change has to do with the increased volatility the asset has faced […]Read More

  • News - 29 January 2022, 6:52 am

    The evolution of blockchain in the food industry started from establishing a Bitcoin Pizza Day, and now it’s moving into the Metaverse. Cryptocurrencies and the food industry might not seem like the most intuitive pairing — one based in the digital realm and the other firmly rooted in the physical. But going back to the earliest days of crypto, the very first real-world use case for Bitcoin (BTC) was food-related. On May 22, 2010, Laszlo Hanyecz enacted the first documented commercial BTC transaction, buying two Papa John’s pizzas for the princely sum of 10,000 BTC. That day is now enshrined in the crypto calendar as Bitcoin Pizza Day. By itself, the event has ended up becoming an annual celebration with restaurant chains and crypto firms alike taking advantage of the marketing opportunities. However, as well as marking Bitcoin’s debut as a medium of exchange, Bitcoin Pizza Day also kicked off crypto’s…Read More

  • Bitcoin News - 29 January 2022, 6:30 am

    Some disgruntled Nigerian users of the cryptocurrency exchange Binance have launched a campaign to boycott the platform, which they accuse of freezing client accounts without valid reason. Accounts Blocked Cryptocurrency exchange platform Binance recently became the target of a boycott campaign initiated by disgruntled users in Nigeria. Using the hashtag #Binancestopscamming, the campaigners are […]Read More

  • News - 29 January 2022, 5:31 am

    BSTX‘s SEC approval does not involve crypto trading or any other form of use of blockchain technology. The Boston Security Token Exchange (BSTX), a new facility of the Boston-based BOX exchange, received regulatory approval from the United States Securities and Exchange Commission (SEC) to operate as a blockchain-based securities exchange. BSTX was launched jointly by BOX and Overstock’s blockchain arm tZERO, originally seeking approval for launching publicly-traded registered security tokens. However, the SEC approval to operate as a national securities exchange allows BSTX to use blockchain technology for faster settlements in traditional markets. According to the SEC,“The Commission notes that the [BSTX] Exchange’s current proposal does not involve the trading of digital tokens and such a proposal, or any other additional use of blockchain technology.”While the SEC has previously denied BSTX permission to offer crypto-focused services, the latest approval allows the facility to use a proprietary market data feed, BSTX Market Data…Read More

  • Bitcoin News - 29 January 2022, 4:30 am

    A member of the Brussels Parliament, Christophe De Beukelaer, says he will receive his entire salary in bitcoin this year. He believes that the technology will disrupt all industries and crypto adoption is going to be “exponential.” Belgian MP Says He Will Receive Entire Salary in Bitcoin — ‘We Can No Longer Remain Ignorant […]Read More

  • Bitcoin News - 29 January 2022, 2:30 am

    Finder’s panel of 33 fintech specialists has forecasted that the price of bitcoin will peak at about $94K before ending the year above $76K. In addition, the panel expects the price of the cryptocurrency to reach $192,800 in 2025 and $406,400 in 2030. Finder’s Experts Predict BTC Price for 2022, 2025, and 2030 […]Read More

  • News - 29 January 2022, 2:08 am

    Thanks to the DeFi revolution, it’s no longer companies extracting value from users, rather it’s developers extracting value from protocols. Cryptocurrencies and the wider blockchain ecosystem are helping change the status quo of how we conduct our day-to-day lives. With these emerging technologies, Web3 is being ushered in as a permissionless and open innovation using middleware blockchain protocols. By doing so, they’re replacing middlemen software-as-a-service (SaaS) companies by capturing value at a greater level.Middleware protocols are by no means new. After all, Web2 is supported by middleware applications, the main one being HTTP. Middleware is what enables users to interact with each other and with applications in a computing environment. And with Web3, there are a variety of protocols in the middle layer stack of this new internet to support applications. More vitally, though, are they really important?Creating value with middleware protocolsWith the arrival of blockchain technology, how we go…Read More

  • Bitcoin News - 29 January 2022, 12:30 am

    American Express (Amex) sees cryptocurrency as an asset class, according to CEO Steve Squeri. He added that right now, the firm does not see crypto as an immediate or medium-term threat to its business. American Express CEO Discusses Crypto Strategy The chairman and CEO of American Express (Amex), Steve Squeri, answered some questions […]Read More

  • News - 28 January 2022, 11:00 pm

    Crypto exchanges are hacked surprisingly often. A few of the biggest crypto heists that occurred in the past few years are discussed in this article. How to avoid cryptocurrency scams?One of the best ways to protect your crypto investment is to secure a wallet and do your own research about the projects in the market.Don’t believe everything you’re told. Instead, examine any claims made about investment, especially if they appear too good to be true or promise huge returns in a short period. Also, do not trust anyone who contacts you personally, whether a government official, a public personality, or a stranger, and asks for Bitcoin payments or offers you an “investment opportunity.”Whenever possible, enable two-factor authentication on your cryptocurrency wallet and exchange. Moreover, never give anyone your crypto wallet’s private key or seed phrase, and keep that information offline in a cold wallet.Check the URLs of websites two or…Read More

  • News - 28 January 2022, 10:30 pm

    KNC shook off the current downtrend by posting a 50%+ monthly gain following the launch of Kyber 3.0 and integration across many decentralized exchanges. In the crypto market volatility continues to reign supreme, and fear, uncertainty and doubt (FUD) run rampant. This makes it challenging for any project to rise above the noise and post positive price gains but there are a few projects that are showing strength during the current downturn. Kyber Network (KNC) is a multi-chain decentralized exchange (DEX) and aggregation platform designed to provide decentralized finance (DeFi) applications and their users with access to liquidity pools that provide the best rates. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a bottom of $1.18 on Jan. 6, the price of KNC has rallied 57% to a daily high at $1.87 on Jan. 27 despite the wider weakness in the crypto market. KNC/USD 4-hour chart. Source: TradingViewThree…Read More

  • Bitcoin News - 28 January 2022, 10:30 pm

    The founder of Barstool Sports blog, Dave Portnoy, announced he purchased 29 bitcoin on January 28, spending more than a million dollars. The day trader has had his ups and downs with bitcoin over the last few years, and it seems he’s now jumping back into the market. Day Trader Dave Portnoy Bought 29 Bitcoin […]Read More

  • News - 28 January 2022, 10:00 pm

    A temporary website outage of the project’s main site, among other factors, led to the error. In a period of market downturns, rumors of crypto bans and decentralized finance, or DeFi scams, blockchain enthusiasts can be sensitive to the smallest abnormalities within projects they follow and sometimes erroneously fear for the worse. The day prior, CertiK, a leading cybersecurity ranking platform in the blockchain space, issued a warning via Twitter regarding CryptoCars, alleging that it was a “rug pull.” However, the staff quickly deleted the post as it was a false alarm.Via a series of Twitter screenshots obtained by Cointelegraph, CertiK first claimed that the website and Telegram for CrytoCars were down. However, users quickly pointed out that both the CryptoCars website and Telegram apps were still functional, resulting in CertiK rescinding the community alert.According to the developers of CryptoCars, the project’s Telegram chat will be temporarily closed “until the…Read More

  • Bitcoin News - 28 January 2022, 10:00 pm

    PRESS RELEASE. The Tori Zero NFT project announced a joint cooperation with the trendy silver jewelry brand BWL. BWL founder Bill Wall will be the first celebrity to join the REDLAB Metaverse KOL program and will be giving away 30 pieces of customized hand-crafted BWL silver pendants to the Tori Zero community as gifts. […]Read More

  • News - 28 January 2022, 9:45 pm

    Russia’s retail cryptocurrency operations currently stand at about $5 billion per year. On Friday, credit rating agency Fitch published a research piece about Russia’s proposed ban on cryptocurrencies. Although the report agreed with the Central Bank of Russia’s (CBR) position that the ban would limit its financial system’s exposure to risks, it also cautioned that such a proposal could “hold back the diffusion of technologies that could improve productivity.”In addition, Fitch warned:”Suppose this slows the spread of crypto-driven innovations that, for example, improve the speed and security of payments or asset liquidity via tokenization. In that case, it could over time weaken this aspect of the Russian banking sector’s operational environment relative to peers.”Additionally, Fitch commented on the adoption of a central bank digital currency, or CBDC, in Russia, saying that “[the digital ruble] should increase the authorities’ capacity to monitor and manage financial flows, which might otherwise be eroded…Read More

  • Bitcoin News - 28 January 2022, 9:30 pm

    On Friday, the digital currency exchange announced the company has inked a multi-year partnership with LeBron James and the LeBron James Family Foundation (LJFF). The crypto trading platform notes that the partnership will bolster things like “educational empowerment,” providing access to tools that help build “Web3, and the future of the internet.” LeBron James: […]Read More

  • News - 28 January 2022, 9:30 pm

    One week after introducing the Address Ownership Proof Protocol, or AOPP, the hardware wallet company backtracked on its decision due to customer privacy concerns. Since 2019, Swiss financial crypto intermediaries have required proof of ownership of an external wallet’s address for Bitcoin withdrawals and deposits to their customers’ non-custodial wallets. One automated mechanism used for this is the Address Ownership Proof Protocol, or AOPP.  The Trezor hardware wallet introduced AOPP signing as part of its latest January update last week, allowing users to generate signatures that conform to the AOPP standard used in certain jurisdictions. On Jan. 28, Trezor announced that it will remove this protocol in the next Trezor Suite update “after careful consideration of recent feedback.”Recent feedback refers to Reddit and Twitter users who were concerned that the use of AOPP signaled Trezor’s support for greater regulation and a disregard for a potential loss of privacy.We will remove AOPP in our…Read More

  • News - 28 January 2022, 9:00 pm

    SAND’s 40% rally follows a two-month-long correction that wiped out nearly 70% of the token’s market valuation. Sandbox (SAND) refused to go down despite broader negative market sentiment in the past 24 hours. Instead, the altcoin logged a breakaway recovery as traders assessed its recent high-profile partnerships as a sign that the project has strong fundamentals.SAND rose 10.23% to $3.38 at the UTC close on Jan.27, followed by another 5.42% spike to $3.57 on Friday. In contrast, Bitcoin (BTC), dropped 1.41% within the same timeframe.SAND/USD daily price chart. Source: TradingViewSAND adoption boomsTraders decided to increase their exposure to SAND after the Sandbox announced partnerships with American rapper Snoop Dogg and Warner Music, a major record label.On Jan. 27, Snoop Dogg tweeted a teaser of what appeared to be his upcoming nonfungible token (NFT) collection, dubbed “the Snoop Avatars.” The rapper further hinted that his avatars would come as a part of the Sandbox…Read More

  • News - 28 January 2022, 9:00 pm

    “Some people said Wonderland should just be wound down and funds be given back to token holders. I believe this is the easy way out,” says Sestagalli. On Friday, Daniele Sestagalli, co-founder of decentralized finance, or DeFi, protocol Wonderland and stablecoin protocol Abracadabra, issued a statement on the path forward after the doxing of his colleague Michael Patryn:“Do we wind down or continue to fight for the aspect of an investment DAO [decentralized autonomous organization] being a revolutionary new organization? For the option that I am for, which is to fight and bring someone new and experienced to manage the treasury.”The day prior, an investor uncovered the identity of Wonderland’s chief financial officer to be Patryn, who was the former co-founder of defunct Canadian cryptocurrency exchange QuadrigaCX. Over $145 million worth of QuadrigaCX customers’ funds are still missing after the mysterious death of its co-founder in late 2018. In addition,…Read More

  • News - 28 January 2022, 8:30 pm

    Representative Ted Budd stated that the provision would let the Treasury unilaterally prohibit certain financial transactions without public input. North Carolina Representative Ted Budd submitted an amendment to the omnibus America COMPETES Act of 2022, specifically targeting the provision that would allow the Treasury Department to impose “special measures,” including surveillance and outright prohibitions, against “certain transmittals of funds.”As Cointelegraph reported, executives of crypto advocacy group Coin Center had earlier turned the spotlight on the provision, introduced by Connecticut Representative Jim Himes, that would scrap the existing checks — such as the requirement of public consultation and time limits on special measures orders — constraining the Treasury’s power to unilaterally prohibit financial transactions. If passed in its current form, the provision would deal a major blow not only to the cryptocurrency industry but to “privacy and due process generally,” as Coin Center’s executive director Jerry Brito stated.Republican Congressman Ted Budd…Read More

  • News - 28 January 2022, 8:00 pm

    A concentration of stablecoins on a handful of platforms has drained liquidity from others. In a Tweet posted by user @cryptotutor Friday, a screenshot appears to show a 27% spread between stablecoin Magic Internet Money (MIM) and USD Coin (USDC) trading pair on decentralized exchange, or DEX, Uniswap (UNI). Both have a theoretical peg of 1:1 against the U.S. Dollar.”Magic Internet Money,” joked cryptotutor, as he attempted to swap approximately $1 million in MIM but received a quote for only 728.6k USDC. Others quickly took to social media to complain as well. In another screenshot, user @DeFiDownsin allegedly received a quote to swap $984k worth of MIM for just 4,173 in USDT on SushiSwap (SUSHI).Swapping $1M in $MIM gives $730K in $USDC on Uniswap’Magic Internet Money’— Tutor (@cryptotutor) January 27, 2022 Curve, a popular platform for stablecoin trading, offered its insight on the matter. “Uniswap actually now works much better…Read More

  • News - 28 January 2022, 7:30 pm

    LUNA price is at risk of further downside, but analysts point to a possible rebound as the altcoin tests a reliable, multi-month moving average as support. Terra (LUNA) may fall to nearly $25 per token in the coming weeks as a head-and-shoulders (H&S) setup develops, indicating a 50% price drop, according to technical analysis shared by CRYPTOPIKK.H&S patterns appear when the price forms three peaks in a row, with the middle peak (called the “head”) higher than the other two (left and right shoulders). All three peaks come to a top at a common price floor called the “neckline.”Traders typically look to open a short position when the price breaks below the H&S neckline. However, some employ a “two-day” rule where they wait for the second breakout confirmation when the price retests the neckline from the downside as resistance, before entering a short position.Meanwhile, the ideal short target for traders comes…Read More

  • News - 28 January 2022, 7:30 pm

    The funds will track Fidelity proprietary Crypto Industry and Digital Payments and Metaverse indices. Fidelity Investments appeared undeterred by the U.S. Securities and Exchange Commission’s, or SEC’s, rejection of its Wise Origin Bitcoin Trust spot exchange-traded fund (ETF) on Thursday. Following the setback, the company filed two more prospectuses involving crypto-metaverse ETFs for regulatory approval. The proposals are for the Fidelity Crypto Industry and Digital Payments ETF and the Fidelity Metaverse ETF, respectively. In rejecting the Wise Origin Bitcoin ETF, the SEC cited the exchange listing the ETF, the Cboe BZX, for not having a proper “surveillance-sharing agreement with markets trading” to prevent fraud and protect investor interests.However, neither of the two new ETF applications will have any exposure to digital assets. Instead, they seek to gain exposure to stocks of cryptocurrency and metaverse companies operating in the space. Additionally, the constituent companies must generate substantial revenue for their shares to…Read More

  • News - 28 January 2022, 7:01 pm

    Players took offense to the suggestion that gamers may not yet fully understand the benefits of NFTs. Nicolas Pouard, vice president at Ubisoft’s Strategic Innovations Lab, commented on the negative gamer feedback that Ubisoft received after introducing Quartz and Digits, in an interview with Finder.”It’s a reaction we are accustomed to. I think it’s great because it shows how engaged our players are and how passionate they are about their hobby and gaming in general. And looking at that, I think it’s reassuring.” In the interview, Pouard goes on to clarify that Quartz and Digits are a “matter of personal choice” for players who “at no point” will be forced to use them.In Pouard’s explanation of Ubisoft’s motivations, however, some readers clung on to one phrase he said: “I think gamers don’t get what a digital secondary market can bring to them.” The idea that players may not “get it for now” was not…Read More

  • News - 28 January 2022, 5:50 pm

    Technical analysis points toward early bottoming signs in BTC and altcoins, but analysts forecast another sharp downside move. Bitcoin (BTC) and most major altcoins are turning down from overhead resistance levels, indicating that the sentiment remains negative and traders are selling on every available opportunity.Decentrader analyst Philip Swift said that the on-chain spent profit output ratio (SOPR) metric, which aggregates the price of purchase versus price sold during a given period, indicates that traders are selling their Bitcoin holdings for a loss.Another metric that is worrying traders is the funding rates, which has further slipped into the negative territory following comments by the U.S. Federal Reserve. Crypto research firm Delph Digital expects Bitcoin to “make a lower low after recently testing the $34K level.”Daily cryptocurrency market performance. Source: Coin360Among several bearish projections, there was an uber bullish long-term forecast by Cathy Wood’s Ark Invest. The report projected Bitcoin’s price to…Read More

  • News - 28 January 2022, 5:42 pm

    The education initiative aims to help 1,600 school children in LeBron James’ hometown. But not every user seems to be happy about the partnership. In a press release published Friday, three-time NBA champion and Los Angeles Lakers forward LeBron James will partner with digital currency exchange to support educational and workforce development opportunities focused on Web3. Specifically, as related by local news outlet Akron Beacon Journal, the partnership will help 1,600 kids in LeBron James’ hometown of Akron, Ohio learn the technology behind cryptocurrencies and how it will benefit their career paths in the future.”Blockchain technology is revolutionizing our economy, sports and entertainment, the art world, and how we engage with one another. I want to ensure that communities like the one I come from are not left behind,” said James. Students will learn about the careers available in the space in both virtual and in-person sessions with…Read More

  • News - 28 January 2022, 4:47 pm

    Not tackling even lower levels “seems wrong,” one analyst says, while another popular trader demands a $40,000 reclaim for Bitcoin price to flip “full bull.” Bitcoin (BTC) cracked $37,000 at the Jan. 28 Wall Street open as traders watched and waited for a resistance retest.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC evades a major resistance testData from Cointelegraph Markets Pro and TradingView showed BTC/USD returning to form after dipping to $36,175 on Bitstamp earlier in the day.As part of the range-bound behavior, hopes were held high that momentum would continue to challenge resistance levels closer to $40,000, whether or not the ultimate outcome would be a fresh correction.”The bearish scenario seems most likely, which is exactly the reason why I think we’ll see a surprising move,” popular trader Crypto Ed said as part of comments on the immediate outlook.”Only after a convincing reclaim of $40K I’ll be full bull.”Fellow trader and…Read More

  • News - 28 January 2022, 2:33 pm

    Even amid a protracted marketwide slump, profit opportunities for crypto traders are still out there. Let’s be blunt: Being in a bear market sucks profoundly as a crypto trader. Most strategies that work when everything is green lead to losses. Growing the value of a portfolio takes twice as much work for half as much progress. The uncertainty over how long the market will remain down is exhausting. During these times, making use of every available tool that can enhance traders’ decision-making is key to success.One such tool is the VORTECS™ Score, an algorithmic indicator available to the subscribers of Cointelegraph Markets Pro that is designed to use historical data on crypto assets’ performance to determine whether their current conditions are bullish, bearish or neutral.The Score can be creatively used in an infinite number of ways, but one hypothetical strategy based on detecting the strongest historical analogies massively outperformed both…Read More

  • News - 28 January 2022, 2:33 pm

    Demographics rule: “Younger people are more likely to embrace crypto than older generations.” Meanwhile, the Great Transfer of Wealth is coming. raised a few eyebrows this past week when it announced cryptocurrency users worldwide could reach 1 billion by the end of 2022. The timing was curious, given that Bitcoin (BTC) and many other cryptos are entwined in one of the largest drawdowns in their (albeit short) history and with the prospect of United States Federal Reserve interest-rate tightening edging ever nearer.But the cryptocurrency exchange, which in November gave its name to the arena where the Los Angeles Lakers basketball team plays in a 20-year deal, was obviously taking the long view. Also, its prediction was contingent on two things happening: one in the “developed” world, the other in less-mature national economies. It also involved some statistical extrapolation. To wit, the main arguments for a great crypto leap expects the…Read More

  • News - 28 January 2022, 2:17 pm

    Intensified scrutiny of digital asset ads is a growing trend, but it’s not clear if it is inextricable from crypto regulation’s evolution. Over the last week, regulators in three major jurisdictions across two continents introduced new rules governing cryptocurrency-related promotions and advertisements. Citing consumer risks associated with digital asset investments, authorities in the United Kingdom, Singapore and Spain tightened the requirements around crypto firms’ marketing messaging and customer recruitment practices. While some experts view this emerging trend as a sign of a new global phase of cryptocurrency regulation, questions about the efficiency and universal applicability of this approach persist.New measuresIn the United Kingdom, Her Majesty’s Treasury issued a report summarizing the results of a public consultation on crypto-asset promotions, published in July 2020, as well as the government’s further steps in bringing such promotions within the regulatory perimeter. The key takeaway here is that crypto-related marketing messages are to be…Read More

  • News - 28 January 2022, 12:58 pm

    Funds will be used for hiring industry-leading engineers to implement both EVM and WASM and to invest and nurture Astar native ecosystem projects. Astar, a multichain DApp protocol, formerly known as Plasm, has raised $22 million in its latest strategic fundraise.The funding round was led by Polychain and saw participation from the likes of Alameda Research, Capital, Digital Finance Group and a few other angel investors. Astar rose to popularity after gaining the Polkadot parachain slot last December and the protocol was officially launched on Jan. 17th.Astar is currently working to become the first protocol to support two virtual machines on its Polkadot parachain—The Ethereum Virtual Machine (EVM) and WebAssembly (WASM). While EVM is currently active, the platform would transition to WASM over time. The Astar team is working with Parity blockchain to push its WASM integration. Being a multichain protocol, Astar supports multiple EVM and non-EVM layer-1 bridges.…Read More

  • News - 28 January 2022, 12:30 pm

    The new Google Cloud team aims to accelerate customers’ efforts in the emerging blockchain and crypto spaces, a blog post explained. Blockchain, cryptocurrency and decentralized technology are all fascinating topics that have been heating up for almost a decade. Nowadays, everyone wants to be part of cutting-edge innovations.A Thursday announcement by Yolande Piazza, Google Cloud’s vice president of Financial Services, said the firm has established a Google Cloud Digital Assets Team that will assist clients in creating, trading, storing value and launching new products on blockchain-based platforms. The blog reads;“This new team will enable our customers to accelerate their efforts in this emerging space and help underpin the blockchain ecosystems of tomorrow.”We’re launching a new, dedicated Digital Asset Team to help underpin the #blockchain ecosystems of tomorrow. Whether you’re implementing blockchain strategies or blockchain-native, you can rely on our scalable, secure and sustainable infrastructure ↓— Google Cloud (@googlecloud) January 27, 2022 The…Read More

  • News - 28 January 2022, 11:20 am

    Bitcoin derivatives markets are finally seeing a long-awaited sustainable reset, increasing the prospects of a “relief bounce” to come, a new market report says. Bitcoin (BTC) could still crash to $29,000 and lower, but price action is “healthier” than a week ago, the latest research concludes.In a fresh market update on Friday, analysts at trading suite Decentrader said that BTC price action is finally showing “green shoots of optimism.”Eyes on “near-term relief bounce” for BTCAfter a difficult week in which BTC/USD dipped to just under $33,000, market analysis is now focusing on the likely outcomes of the rangebound behavior seen over the past few days.For Decentrader, there is reason to be cautiously optimistic now where there was none a week ago.“We believe that the current derivatives landscape shift and this extremely negative sentiment backdrop does increase the potential for at least a near-term relief bounce,” analysts summarized.The reason lies in…Read More

  • News - 28 January 2022, 11:05 am

    BTC is more than 50% down from its $69,000 all-time high and traders seem to have no clue about the digital asset’s next direction. It is not too late for Bitcoin (BTC) to reclaim its bullish bias as it halfway paints an indecisive ‘Doji’ candle on the weekly chart.In detail, Bitcoin’s price correction this week to below $33,000 had it form a lower wick, suggesting that bulls bought the dip. A sharp retracement ensued and took BTC price to as high as $38,960 on Jan. 27. However, the bulls failed to hold the said week-to-date top for too long, resulting in another wick, but also pointing to the upside.BTC/USD weekly price chart featuring Doji candlestick. Source: TradingViewBTC price has since corrected to near its weekly opening rate of $36,200. In doing so, it has formed a transitional candlestick, called “Doji,” that reflects indecision between bears and bulls. If found at…Read More

  • News - 28 January 2022, 10:30 am

    Some OpenSea users who heeded OpenSea’s call to call their inactive listings ended up losing their NFTs and their money. Twitter users reacted negatively to an OpenSea email sent to users who still had inactive listings on their accounts. In the email, OpenSea explained that old nonfungible token (NFT) listings are still fulfillable, and should be canceled by the user because OpenSea is unable to cancel them on their behalf. They claimed this would “prevent any of your items from being sold at the inactive listing price,” due to Ether’s (ETH) dropping price.According to the NFT collector @dingalingts and other users, this warning had the opposite effect and canceling the listing ended up recreating the order. @Dingalingts tweeted a thread urging users to “FIRST transfer your NFT to a different address and cancel the listing/s on the original address BEFORE” canceling them.1/ WARNING: DO NOT CANCEL YOUR OS LISTINGS AS STATED IN…Read More

  • News - 28 January 2022, 10:20 am

    More demand could just mean bigger correlations to traditional markets, the bank’s researchers say. Bitcoin (BTC) and cryptocurrency adoption may not necessarily make its price higher in dollar terms, Goldman Sachs argues.In a note seen by Bloomberg published Thursday, the international banking giant claimed that mainstream acceptance of crypto assets would increase their correlation to other mainstream asset classes.Goldman: Adoption is a “double-edged sword”In a view contrary to that of many Bitcoin proponents, Goldman sounded firmly uninspired by the prospect of crypto as a tool for the enrichment of the mass populace.“While it can raise valuations, it will also likely raise correlations with other financial market variables, reducing the diversification benefit of holding the asset class,” the note reads.Its authors, Zach Pandl and Isabella Rosenberg, additionally described mainstream adoption as a “double-edged sword.”Put another way, should Bitcoin or crypto become more correlated with extant assets, the scope for asymmetric profit…Read More

  • News - 28 January 2022, 9:51 am

    The addresses linked to the hack attack have managed to steal 206,809 Binance Coin from Qubit’s QBridge protocol. High-profile hacks have become more prevalent throughout the cryptocurrency market, and Qubit Finance is one of the latest decentralized finance (DeFi) protocols to be exploited by hackers.Hackers were able to access and steal over $80 million from Qubit Finance, which is based on the Binance Smart Chain,  the protocol confirmed via a tweet on Friday. The addresses linked to the assault stole 206,809 Binance Coin (BNB) from Qubit’s QBridge protocol. The assets are valued at more than $80 million at the time of writing.Did @QubitFin just get hacked for $80M? Check out this address:— claudeshannon.eth ⛽️ (@0xclaudeshannon) January 27, 2022 QBridge was hacked to create “a huge amount of xETH collateral” that was subsequently used to drain the entire quantity of BNB stored on Q Bridge, according to PeckShield, which analyzed Qubit’s smart…Read More

  • News - 28 January 2022, 9:35 am

    The Belgian MP will convert his monthly salary of EUR 5,500 to Bitcoin using the country’s popular cryptocurrency trading platform Bit4You. Bitcoin (BTC) craze among lawmakers has reached the Belgian parliament now, as Brussels member of parliament Christophe De Beukelaer became the first European politician to convert his salary to Bitcoin.The Brussels MP’s monthly salary of EUR 5,500 ($6,140.75) will be converted to Bitcoin using the Bit4You crypto trading platform, reported Bruzz. Beukelaer, who represents Humanist Democratic Centre (CDH) party, hopes his move would inspire other politicians in the region to show a similar interest in the nascent tech. Beukelaer cited the example of New York City Mayor Eric Adams and how American politicians are working to make their native states or cities Bitcoin hubs. He said:“New York City Mayor Eric Adams has spent three months collecting his Bitcoin salary to make New York the Bitcoin hub. I think it is not…Read More