Bitcoin (BTC) lost bullish momentum at the June 1 Wall Street open as United States equities faced another day of retracement. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Zooming out, “nothing” has changed Data from Cointelegraph Markets Pro and TradingView captured a sharp U-turn for BTC/USD at the start of trading, $1,600 in three hours. At
Month: June 2022
Summary: The OG chain continues to lead the non fungible token pack. ETH’s blockchain crossed $25 billion in NFT sales for all time at the end of May. The landmark moment solidified Ethereum’s position above competitors like Ronin and Solana. The mammoth network also achieved the feat despite dwindling NFT trading volumes and the cooldown
Bitcoin mining revenue and profitability have continued to slide along with the asset’s price this year as the crypto winter deepens. May has been one of the worst months for Bitcoin miners in the past year as revenue and profitability continue to tank. Bitcoin daily mining revenue tanked as much as 27% in May, according
The increase of crypto lobbyists recently sparked an effort from anti-crypto individuals in the tech space to urge regulators through a letter to resist the influence of blockchain advocates. In response, the crypto community criticized the move and laid out counterarguments against the contents of the letter. Signed by 26 tech personalities, the letter sent
A report published by the Economist paints a bright future for cryptocurrency adoption, with survey respondents anticipating growing demand in the near future. Economist Impact published findings of its ‘Digimentality Report’, delving into consumer trust in digital payments and the stumbling blocks that have hampered the digitization of basic monetary functions. The data obtained provide
For years, traditional financial institutions in different parts of the world have been attempting to narrow the financial exclusion gap by extending their services to the unbanked population. Yet for many reasons, these institutions still cannot avail their products and services to everyone that needs them. Regulatory Hurdles While there are several reasons cited for
Despite May’s price correction, which took Bitcoin (BTC) as low as $23,800, institutional investors seem unwilling to lose confidence in the cryptocurrency. The Purpose Bitcoin ETF, launched in February 2021, has been seeing a consistent inflow over the last five trading days. The fund’s holdings have increased to 43,701.7 BTC as of Tuesday, according to
Bitcoin (BTC) has made a tentative start to the month of June, suggesting that bears have not gone into hibernation just yet. Although Bitcoin is trading nearly 55% off its all-time high of $69,000, whales and institutions remain cautious and have not jumped into the market with gusto, according to BlockTrends analyst Caue Oliveira. According
Get ready for fundamental change in money and payments, John Williams, president and CEO of the Federal Reserve Bank of New York, told central bank officials, academics and financial industry leaders from around the world Wednesday. Williams delivered the opening remarks at an invitation-only workshop on monetary policy implementation cohosted by the New York Fed
Stablecoin projects have been thrust into the limelight over the past month as the popularity of algorithmic stablecoins and the collapse of the Terra project put a spotlight on the important role dollar-pegged assets play in the crypto market. In response to the void left by UST, multiple protocols have released new stablecoin projects in
Bitcoin (BTC) and the wider cryptocurrency market are taking a breather after the rally on May 31. Meanwhile, most altcoins remain severely oversold, with most between 70% and 90% below their all-time highs. Total altcoin index capitalization What is clear is that fear is everywhere and blood is in the water. Risk-on markets are suffering
Summary: The New York Department of Justice has announced that it will be charging a former OpenSea employee for alleged insider trading of NFTs. The former employee was arrested and will be presented in the United States District Court for the Southern District of New York. The charges cite that the Opensea employee used his
This week’s Bitcoin (BTC) chart leaves little doubt that the symmetrical triangle pattern is breaking to the upside after constricting the price for nearly 20 days. However, derivatives metrics tell a completely different story because professional traders are unwilling to add leveraged positions and are overcharging for downside protection. BTC-USD 12-hour price at Kraken. Source:
The concept of cryptocurrency inheritance continues to rapidly evolve as the decentralized finance (DeFi) industry spawns more ways to make a “crypto will.” The Israeli crypto software provider Kirobo is moving to tackle a major void in the DeFi industry by providing crypto investors with an opportunity to pass private keys or transfer funds according
Anti-crypto technology experts urged United States lawmakers to resist the influence of pro-crypto lobbying efforts. Bruce Schneier, a lecturer at Harvard, reportedly said that blockchain advocates’s claims are “not true.” He added that the technology is not secure and not really decentralized. According to Schneier, systems where you can “lose your life savings” when you
Singapore’s deputy prime minister has advised retail investors to steer clear of cryptocurrencies, citing that they are “highly risky.” He stressed, “We cannot express this enough.” Singapore’s Deputy Prime Minister Warns About Crypto Singapore’s Deputy Prime Minister Heng Swee Keat reportedly warned retail investors against investing in cryptocurrency Tuesday while speaking at the Asia Tech
