Summary: Bitcoin’s value has been declining for a record-breaking eight consecutive weeks. The ongoing pullback has put a notable dent in the entire crypto market performance. Fear in the Bitcoin and Ethereum derivatives markets indicates that downside selling pressure will continue for the next three to six months. However, bear markets eventually usher in bull …
Monthly archives: May 2022
European Central Bank President Christine Lagarde Says Crypto Assets Are Worth Nothing: Report
European Central Bank (ECB) President Christine Lagarde reportedly believes that crypto assets have zero value. According to a Politico report, Lagarde says cryptos are “worth nothing” and are merely speculative assets. “I have said all along the crypto assets are highly speculative, very risky assets. My very humble assessment is that it is worth nothing. …
Crypto Derivative Traders Can Access TradingView With Broker Eightcap
May 24, 2022 – Melbourne, Australia Australian FX and CFD provider Eightcap has recently announced that it has partnered with TradingView, allowing crypto derivative traders to trade directly from TradingView’s charts into their Eightcap trading accounts. Crypto derivative traders will have access to Eightcap’s full suite of crypto derivatives, including altcoins, crypto-indices and crypto-crosses. Eightcap’s …
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Shark Tank Investor Kevin O’Leary Says ‘Nightmarish’ Crypto Correction Good for Industry – Here’s Why
Shark Tank star Kevin O’Leary is taking stock of the altered crypto landscape after billions of dollars were liquidated when two large-cap digital assets collapsed earlier this month. In a new interview with Stansberry Research, O’Leary says the demise of the TerraUSD (UST) algorithmic stablecoin and its affiliated Terra (LUNA) is a painful part of a …
Crypto funds under management drop to a low not seen since July 2021
Digital asset investment products saw $141 million in outflows during the week ending on May 20, a move that reduced the total assets under management (AUM) by institutional funds down to $38 billion, the lowest level since July 2021. According to the latest edition of CoinShare’s weekly Digital Asset Fund Flows report, Bitcoin (BTC) was …
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Bitcoin price returns to weekly lows under $29K as Nasdaq leads fresh US stocks dive
Bitcoin (BTC) fell on the May 24 Wall Street open as weakness in stocks saw sell-side pressure return. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Equities give crypto no respite Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it revisited its lowest levels of the past seven days. At the time of writing, BTC/USD …
Enforcement and adoption: What do UK’s recent regulatory aims for crypto mean?
In April, the United Kingdom’s Economic and Finance Ministry, also known as Her Majesty’s Treasury, announced its intention to put the United Kingdom at the forefront of technology by bringing stablecoins under the country’s payments regulation — a bold move that looks especially intriguing in contrast to the recent shock, caused by TerraUSD’s (UST) depegging. …
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Bitcoin price may bottom at $15.5K if it retests this lifetime historical support level
Bitcoin (BTC) could be in for a return to levels not seen since before its 2020 bull market if history repeats itself. That was according to new analysis released on May 24, which studied Bitcoin’s interaction with its 200-week moving average (WMA). Bitcoin floor target could be between $15,500 and $19,000 In a Twitter thread, …
Bitcoin Pizza Day 2022: Here’s What’s Happening This Year
May 22, 2022 marks the 12th anniversary of Bitcoin Pizza Day. Here’s what to expect from participating companies. The crypto community celebrated the 12th anniversary of Bitcoin Pizza Day this year on May 22, 2022. The event commemorates one of the first purchases involving cryptocurrency: two Papa John’s pizzas that were paid for with Bitcoin …
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South Korea plans to sue crypto exchanges following Terra crash
Terra LUNA and Terra USD (UST) crash caused massive losses for investors globally. The crash prompted reactions from regulators globally, and in South Korea, regulators are actively engaged in finding the best solution for the problem. The ruling party of South Korea held an emergency meeting to discuss the crash and plan to take further …
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PayPal hints at plans to accept all forms of cryptocurrencies
One of the largest payments platforms globally, PayPal has announced plans to go all-in with its cryptocurrency plans. According to the company’s president, Richard Nash, the company will accept a wide range of cryptocurrency and blockchain services. PayPal plans to fully venture into crypto Nash was speaking at the World Economic Forum, where he said …
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South Korea’s Upbit and Bithumb warn over Litecoin privacy feature
Litecoin implemented the MimbleWimble Extension Blocks (MWEB) recently to boost privacy within the network. The privacy-focused upgrade could be good news for developers and users of the Litecoin network, but it has spooked two of the leading exchanges in South Korea. Upbit and Bithumb spooked after Litecoin’s MWEB integration Bithumb and Upbit, two of the …
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Fed report shows 12% of Americans invested in crypto in 2020
The level of cryptocurrency adoption in the United States has grown significantly over the past two years. Americans have learned how to invest in crypto and use these assets for their daily needs, such as shopping or sending funds to friends and family. The US Federal Reserve Board provided data on cryptocurrencies in the Economic …
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Coinbase Wallet Embraces Swaps on Ethereum, Polygon, BNB Chain and Avalanche
Summary: Coinbase Wallet has integrated swaps on the BNB Chain and Avalanche in addition to Ethereum and Polygon. With an in-app Decentralized Exchange, Coinbase Wallet simplifies the process of swaps and will integrate other networks in the months to come. The team at Coinbase has announced that the platform’s wallet has integrated swaps on the …
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Terra 2.0 is Not a Hardfork But the Genesis of a New Blockchain, says The Team Behind LUNA
Quick takeaways: The team at Terra has clarified that the new chain that will arise from Proposal 1623 is not a hardfork. The Terra Team has described Terra 2.0 as the genesis of a new blockchain. Dapps from the old chain will not pre-exist on the new Terra (LUNA) chain. Voting for the new chain …