A closely followed crypto trader is issuing a warning to STEPN (GMT) investors, saying that the fundamentals of the altcoin no longer support its valuation. Pseudonymous analyst Light tells his 155,700 Twitter followers that he believes GMT, which equips users with non-fungible token sneakers and rewards them for taking steps in real-life, is extremely overvalued …
Monthly archives: May 2022
Bitcoin ‘bear market’ may take BTC price to $25K, says trader with stocks due capitulation
Bitcoin (BTC) may continue its “bear market,” one trader says amid hope that a U.S. dollar reversal could soon improve BTC price action. In his latest YouTube update on May 2, Cointelegraph contributor Michaël van de Poppe argued that USD’s current surge would not last long. Dollar strength reversal “close” Bitcoin is still under pressure …
DAOs: A blockchain-based replacement for traditional crowdfunding
The crypto space witnessed phenomenal growth in 2021. Buzzwords like nonfungible tokens (NFTs), decentralized finance (DeFi) and the Metaverse broke through to the mainstream and culminated in the crypto market peaking at over $3 trillion in November of 2021. NFTs redefined arts and how they are acquired. DeFi revolutionized how we lend and borrow. The …
Continue reading “DAOs: A blockchain-based replacement for traditional crowdfunding”
El Salvador Bitcoin wallet shows ‘strong sign of adoption,’ exec says
El Salvador’s government-backed Bitcoin (BTC) wallet has reached significant success in terms of adoption, according to an exec at the cryptocurrency exchange behind the wallet. The Chivo wallet was launched in conjunction with BTC becoming legal tender in El Salvador on Sept. 7, 2021. The official platform allows users to buy and sell Bitcoin, offering …
Continue reading “El Salvador Bitcoin wallet shows ‘strong sign of adoption,’ exec says”
XRP price rebounds after worst month since June 2021 — major recovery ahead?
Ripple (XRP) opened in May with a decent price rebound after falling 28% in April, its worst monthly performance since June 2021. Furthermore, the XRP/USD pair shows prospects of continuing its recovery trend in the coming weeks. Support confluence raises XRP bullish prospects XRP’s price rose by nearly 6.25% in the first two days of …
Continue reading “XRP price rebounds after worst month since June 2021 — major recovery ahead?”
Wikipedia Will No Longer Accept Donations In Cryptocurrency
Wikipedia will not accept donations in cryptocurrencies. Wikipedia’s parent company WMF cited the ecological impact of Bitcoin as one of the reasons for halting crypto donations. Popular and free encyclopedia website, Wikipedia will cease to acknowledge cryptocurrency donations after accepting them for the past 8 years. In the latest update issued by Wikipedia’s parent company, …
Continue reading “Wikipedia Will No Longer Accept Donations In Cryptocurrency”
What Is Harmony (ONE)? A Detailed Explanation
Decentralized finance is rising, and it’s expected to continue endlessly. It’s been evident since the outset that the speed for which interchain transfers can be carried out defines the distance between DeFi space and the moon. Using a single-chain medium for business has several limitations. Single-chain superior cross-chain alternatives have become available. Harmony One is …
Continue reading “What Is Harmony (ONE)? A Detailed Explanation”
What is Avalanche (AVAX), and how does it work?
Bitcoin was the original blockchain, which inspired the design of all future networks, including Ethereum.However, the adoption of NFTs and Decentralized Finance (DeFi) have played a major role in altering the blockchain scene today.Avalanche’s creators, Ava Labs, think they have invented the world’s fastest smart contract blockchain platform. Moreover, avalanche runs at an internet-scale for …
Continue reading “What is Avalanche (AVAX), and how does it work?”
Big Setups for Cardano, Chainlink and Fast-Rising Ethereum Rival Are Now Forming: Top Crypto Analyst
Widely followed crypto analyst Michaël van de Poppe says traders bullish on Cardano (ADA), Chainlink (LINK) and Near Protocol may be seeing prime opportunities soon. The analyst tells his 589,000 Twitter followers that Cardano may have further to fall as it knocks hard on a big support level. Van de Poppe says that he expects …
Ethereum Whales Have Accumulated $407,415,040 in ETH in Just 10 Days: Analytics Firm Santiment
Crypto insights firm Santiment says that deep-pocketed Ethereum investors have started aggressively accumulating ETH after four months of inactivity. The market intelligence firm says that whales holding between 1,000 and 10,000 Ethereum have suddenly added a combined 142,000 ETH, worth about $407,415,040 at time of writing. The accumulation spike comes after a nearly four-month-long stagnation …
Crypto Stories: Ethan Lou shares experience of crypto conference in North Korea
When North Korea announced a crypto conference back in 2018, Canadian journalist Ethan Lou jumped at the opportunity to see what the country’s crypto scene looked like. He encountered many surprises, including being introduced as a presenter to a North Korean audience. According to Lou, he went there with eight other unsuspecting participants who wanted …
Continue reading “Crypto Stories: Ethan Lou shares experience of crypto conference in North Korea”
Indian IT Ministry directs crypto exchanges to store user data for 5 years
The Indian Computer Emergency Response Team (CERT-in), which falls under the Ministry of Electronics and Information Technology, issued a new directive on Thursday, forcing crypto exchanges, virtual private network (VPN) providers and data centers to store a wide range of user data for up to five years. Under the newly issued directive, crypto exchanges operating …
Continue reading “Indian IT Ministry directs crypto exchanges to store user data for 5 years”
CRO Hits YTD Low After Crypto.com Slashes Rewards on Its Card
CRO hits a YTD low price of $0.31, its price going down 13% in the past 24 hours. The drop is a result of the changes to the rewards program of CRO cards. Community members have roundly criticized the move, and many are selling their CRO holdings. Crypto.com’s CRO token has taken a drastic drop …
Continue reading “CRO Hits YTD Low After Crypto.com Slashes Rewards on Its Card”
Goldman Sachs recently offered its first Bitcoin (BTC)-backed loan
Goldman Sachs has announced the availability of its first-ever lending facility backed by Bitcoin (BTC), Bloomberg reported. This marks a big step forward for the major U.S. bank and accelerating Wall Street’s acceptance of cryptocurrencies. According to a bank representative, the secured loan facility provided cash collateralized by the borrower’s Bitcoin. Goldman was drawn to …
Continue reading “Goldman Sachs recently offered its first Bitcoin (BTC)-backed loan”
Ethereum user spends $44,000 in gas fees to mint Bored Ape ‘Otherside’ NFTs
Ethereum’s scalability woes come under the spotlight once more following the release of the latest Bored Ape Yacht Club NFT collection. According to CNET, ‘Otherdeed’ NFT demand was so high that gas fees spiked, causing network issues for hours following its roll out on Saturday, April 30. “Users ended up paying thousands of dollars in …
Continue reading “Ethereum user spends $44,000 in gas fees to mint Bored Ape ‘Otherside’ NFTs”