The Nigerian central bank digital currency (CBDC) wallet app is set for an update that will see users given the ability to pay for utilities like pay television and for topping up airtime. The addition of the unstructured supplementary service data (USSD) functionality to the wallet app means people without bank accounts will be able …
Monthly archives: May 2022
Crypto Downturn Shakes Digital Collectible Markets as NFT Sales Slip 42% Lower Than Last Week
Non-fungible token (NFT) markets are starting to feel the pain from the crypto market carnage that’s taken place during the last week. Over the last seven days, NFT sales have dropped 42.85% lower than the previous week. NFT sales on Ethereum were hit the hardest as the blockchain saw a 44.83% loss in NFT sales …
Erratic Bond Yields, Lockdowns, and War — 3 Reasons Why Economic Recovery Won’t Happen Quickly
The global economy looks bleak as inflation continues to rise, and a wide array of financial investments continue to shudder in value. Since May 2, 2022, the crypto economy has dropped more than 15% from $1.83 trillion to today’s $1.54 trillion. The price of gold has lost 5% in 30 days, and major stock market …
Biggest Movers: LUNA Loses 50% of Its Value, While XMR and AXS Declines Continue
LUNA was down by over 50% in today’s session as markets continued to react to UST losing its parity with USD. As such traders lost faith in the stablecoin founded by Do Kwon, which dropped to its lowest point since September. Whilst LUNA stole the headlines, XMR and AXS also saw recent losses extended. Terra …
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After TerraUSD (UST) Depegging, Macro Guru Raoul Pal Says Stablecoin Regulation Could Be Coming
Macro guru and Real Vision CEO Raoul Pal says the recent issues with Terra’s algorithmic stablecoin, UST, may lead to new stablecoin regulation. In a new interview with Bankless, the former Goldman Sachs executive says UST’s recent loss of its US dollar (USD) peg is part and parcel of most financial markets. UST is designed …
Altcoins stage a relief rally while Bitcoin traders decide whether to buy the dip
The similarity in price action between the crypto and traditional financial markets remains quite strong on May 10 as traders enjoyed a relief bounce across asset classes following the May 9 rout, which saw Bitcoin (BTC) briefly dip to $29,730. Market downturns typically translate to heavier losses in altcoins due to a variety of factors, …
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Michael Saylor assuages investors after market slumps hurts MSTR, BTC
MicroStrategy’s CEO and Bitcoin proponent Michael Saylor is confident his firm’s BTC holdings will more than cover a potential margin call on Bitcoin-backed loans. The American business intelligence and software giant made headlines in 2021 with a number of major investments into Bitcoin. Saylor was a driving force behind MicroStrategy’s decision to convert its treasury …
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The Fed cites worries about stablecoin in its latest Financial Stability Report
The United States Federal Reserve Board released its semiannual Financial Stability Report on Monday. The report points to the volatility on commodities markets brought on by the Russian invasion of Ukraine, the spread of the omicron variant of COVID-19 and “higher and more persistent than expected” inflation as sources of instability. Stablecoins and some types …
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Polygon reaches level that last time triggered a 275% MATIC price rally — Will history repeat?
Polygon (MATIC) price reversed course to the upside on May 10 after testing $0.794 as its interim support, thus rising by up to 25% to $0.99. The rebound occurred a day after the token slumped over 17% to reach $0.787, its lowest level since July 2021, amid a global market crash led by the U.S. Federal …
Michael Saylor: MicroStrategy Could Post Some Other Collateral for its Loan Besides its 115k BTC, if Bitcoin Drops below $3,562
Quick take: Michael Saylor has clarified that MicroStrategy can collateralize its $205 million loan from SilverGate bank with its 115,109 Bitcoin holdings He also added that Microstrategy could post ‘some other type’ of collateral if Bitcoin fell below $3,562 There have been a lot of murmurs about Microstrategy getting a margin call on its loan …
KuCoin Raises $150M in Pre-Series B Funding at a $10B Valuation
Quick take: KuCoin has raised $150 million in a pre-series B funding round at a $10 billion valuation The funding round was led by Jump Crypto with additional participation by Circle Ventures, IDG Capital, and Matrix Partners KuCoin plans to expand beyond trading and into Web 3.0, including crypto-wallets, GameFi, DeFi, and NFTs The cryptocurrency …
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Introducing YUSE, the Ultimate Multi-Utility Token
May 10, 2022 – Lisbon, Portugal Yuse ecosystem is launching its own wallet. Yuse protocol, an ecosystem of digital products backed by blockchain technology, is taking a big step forward with the release of its non-custodial wallet. From May 19, 2022, onward, members of the Yuse community will be able to store their Yuse tokens …
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Analyst Issues Solana and Avalanche Warnings, Says Traders Should Not Underestimate Altcoin Bear Market
A popular crypto trader is cautioning digital asset investors about the fate of altcoins as the markets take a tumble to start the new week. The analyst known as Altcoin Sherpa follows up on a May 6th tweet where he warned that it could be “lights out” for many altcoins if certain price levels were …
What are the top social tokens waiting to take off? | Find out now on The Market Report
“The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss the social tokens you should be keeping a close eye on. But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook …
US Treasury Secretary reaffirms need for stablecoin regulation following UST crash
United States Secretary of the Treasury Janet Yellen called on U.S. lawmakers to develop a “consistent federal framework” on stablecoins to address risks to financial stability. In a Tuesday hearing of the Senate Banking Committee on the Financial Stability Oversight Council Annual Report to Congress, Yellen reiterated her previous position calling for a regulatory framework …