The rally in cryptocurrency markets started in early January with a spike in heavily-shorted altcoins and Ethereum (ETH) liquid staking derivative (LSD) tokens due to the upcoming network upgrade in March. Soon gains started to show across the board as buyers started to play catch up. The improving macroeconomic conditions, such as reduced inflation and
Month: January 2023
There are rumors that Dogecoin could switch from proof-of-work to proof-of-stake (PoS). Do I know if Dogecoin is switching to PoS? No. Do I think it’s going to PoS? Probably not. But I love the “what if” game. As a person who works in the crypto mining industry, I do my best to gauge where
We can’t blame Elon Musk for dreaming of moving to Mars — the human race has always been curious about finding a better life somewhere else. But not everyone in crypto is looking up to the stars to find new worlds; others stay on earth and attempt to build a new micronation, or a crypto
Bitcoin (BTC) rose above $23,000 into the Jan. 31 Wall Street open as markets braced for a fresh macroeconomic reckoning. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader: $25,000 “best case” for BTC/USD Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining around 1% in a single hourly candle before the start of trading,
Several United States senators have reportedly penned a letter requesting answers from Silvergate Capital — the parent company of Silvergate Bank — related to the collapse of cryptocurrency exchange FTX. According to a Jan. 31 Bloomberg report, U.S. senators including Elizabeth Warren, Roger Marshall and John Kennedy said Silvergate had not fully answered questions in
Ordinals, a new way of using and getting content using Bitcoin, are enabling creators to harness the utility of NFTs (non-fungible tokens) directly from the blockchain, essentially creating native Bitcoin NFTs. This has stirred the pot in some circles, which are now discussing if this is the way in which Bitcoin’s blockchain should be used,
Bankrupt crypto lender BlockFi has been granted court approval to sell off its crypto mining equipment as part of ongoing efforts to repay its creditors. A court order filed on Jan. 30 in the United States Bankruptcy Court for the District of New Jersey granted approval for BlockFi to sell the assets, saying doing so was
Despite a challenging year for crypto, 82% of millionaire clients had looked into investing in digital assets such as Bitcoin (BTC) in 2022, according to a recent poll conducted by financial advisory firm deVere Group. The poll results, released on Jan. 30, found that eight out of every 10 of the firm’s high net-worth (HNW) clients
Authorities from the Hainan province in southern China have vowed to increase oversight on the nonfungible token (NFT) sector to “promote the healthy development” of the sector and to stomp out fraud and other associated risks. In a separate announcement, the People’s Bank of China (PBoC) also announced that it is working on new features
In a piece of news that went undetected within the crypto community for a few days, the Southeastern European country of Montenegro has announced a partnership with Ripple. The country’s prime minister, Dr. Dritan Abazović tweeted about the pilot project with Ripple already on January 18, 2023. Via the social media platform, the Montenegrin Prime
Virunga National Park in the Democratic Republic of the Congo has become the first national park in the world to run a Bitcoin (BTC) mine in an effort to protect its forests and wildlife. Cointelegraph spoke with Sébastien Gouspillou, CEO of Big Block Green Services, and the man who introduced Bitcoin mining to the park.
United States prosecutors in the criminal case against former FTX CEO Sam Bankman-Fried have released text and email messages from SBF to current CEO John Ray. In court documents released on Jan. 30, the Justice Department responded to a motion from Bankman-Fried’s legal team attempting to remove some of the proposed modifications for his bail
Bitcoin mining stocks usually follow BTC’s price because it directly influences the company’s earnings. These stocks were beaten down heavily in the last quarter of 2022, especially in the month of December. The downturn after FTX’s collapse worsened with the bankruptcy filings of the largest U.S.-based Bitcoin mining company, Core Scientific. During this time, other
Last month, statistics showed that the Crypto Fear and Greed Index (CFGI) had a score of 25, indicating “extreme fear.” Thirty days later, with a 39% increase in bitcoin prices against the U.S. dollar, the current CFGI score on Jan. 30, 2023, is 61, reflecting “greed.” Crypto Fear Index Jumps to ‘Greed,’ Etoro Market Analyst
Bitcoin (BTC) struggled to maintain bullish momentum on Jan. 30 as the countdown to the monthly close kept the market nervous. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price sees flash dip below $23,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD coming off its latest highs at just below $24,000 on the
The commission in charge of regulating registered charities in England and Wales has announced it had begun investigating Effective Ventures Foundation, an organization tied to bankrupt crypto exchange FTX. In a Jan. 30 announcement, the Charity Commission said it had launched the inquiry due to FTX being a “significant funder” of Effective Ventures. According to
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