In theory, Bitcoin (BTC) should serve as a hedge against inflation. It’s easy to access, its supply is predictable, and central banks cannot arbitrarily manipulate it. However, investors aren’t treating it that way. Instead, the cryptocurrency market is mirroring the stock market. Why is that? Let’s dive into what prevents cryptocurrencies from acting as a …
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In reaction to the liquidity and withdrawal crisis that has befallen crypto firms, the Monetary Authority of Singapore (MAS) has set up numerous measures. The MAS has commenced operations to usher in a regulatory framework to address the issues. According to reports, the Singapore Central Bank sent questionnaires to applicants and possessors of MAS licenses …
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Crypto trading app OKX has released a service update to prepare its users for the imminent ETH Merge. The crypto app issued the service update in a press release conveyed on its platform. OKX, in the update, highlighted its protocols, information on asset protection, and the basis of the much-anticipated merge. According to OKX, a …
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Leading crypto exchange Coinbase has integrated a public decentralized altcoin network, Hedera (HBAR), into its listing roadmap. The development was confirmed in a blog post by the exchange on Friday. The development places the token on the path of becoming listed on its burgeoning roster of tradable digital assets. Hedera would now begin to operate …
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Global financial service provider Visa partnered with Ripio, a Bitcoin wallet, to launch its first Bitcoin Debit card in Brazil. The Bitcoin wallet announced the development in its latest blog post. Ripio plans to expand its operation to the Argentine Market beyond Brazil. Ripio aims to ensure the expansion of its services across all the …
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Bored Ape Yacht Club (BAYC), an NFT collection of 10,000 “Bored Apes,” was launched and revealed to the public on April 30, 2021, as the first project by the now-famous Yuga Labs. The price of their first BAYC NFT was 0.08 ETH (then worth about $190). About 12 hours after they went live, Yuga Labs’ …
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This week the mining operation Applied Blockchain announced that it is changing its company name to Applied Digital. Furthermore, the mining operation released 2022 financial results and operational updates that noted that the mining firm entered a purchase agreement on August 15 for land in North Dakota. Applied Digital Enters Purchase Agreement on August 15, …
On Saturday, August 27, 2022, the global market capitalization of all the crypto assets in existence dropped under the $1 trillion mark and the leading crypto asset bitcoin slipped below the $20K region for the first time since mid-July. Crypto Economy Craters — More Than $240 Billion Erased in 13 Days Digital currency markets this …
On Friday, Jerome Powell spoke at the annual Jackson Hole Economic Symposium and the Federal Reserve chair explained that the U.S. central bank is focused on fighting the country’s red-hot inflation. Powell stressed at the event that strict monetary policy is necessary, and his commentary hinted that the Fed won’t hit the brakes on monetary …
Decentralized lending platform Compound has launched a new “streamlined” version of its protocol called “Compound III.” With the update, Compound (COMP), an algorithmic, autonomous interest rate protocol, is moving away from a pooled-risk model where users can borrow any asset, according to a new blog post from Robert Leshner, the founder of Compound Finance. Explains …
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A new non-fungible token (NFT) marketplace competitor is ripping away a small percentage of market share from OpenSea, the dominant company in the space. Crypto insights firm Messari notes that the decentralized NFT marketplace SudoSwap “has started to cut into OpenSea’s stranglehold on the NFT space,” with its daily trading volume reaching 10% of OpenSea’s …
The Bitcoin price sees a 1.25% decline today as the cryptocurrency fails to cross above the 9-day moving average. Bitcoin Prediction Statistics Data: Bitcoin price now – $19,988 Bitcoin market cap – $382.7 billion Bitcoin circulating supply – 19.1 million Bitcoin total supply – 19.1 million Bitcoin Coinmarketcap ranking – #1 BTC/USD Long-term Trend: Ranging …
STEPN drops 14.47% and fails to halt its bearish rally. GMT took some additional offers near $0.6786. However, the reason could be mixed crypto market sentiment, which undermines investor confidence and contributes to coin losses. Meanwhile, investors are also pricing in the hawkish Fed Chairman Jerome Powell’s monetary policy speech this week. The move-to-earn crypto …
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Meme coins were one of the worse hit segments due to the bearish run of the crypto market. Dogecoin, which was the (and still is as of now) the leader of this segment, has witnessed its value decrease many folds during this period despite the fame and support it managed to garner. But ever since …
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Flow (FLOW) is down 13% to $1.84, and hasn’t reversed its decline, possibly due to September rate hikes. FLOW failed to break its downward trend and is still flashing red near $2.19. However, the reason could be the Fed’s additional calls for rate hikes in September. Flow (FLOW) and other cryptocurrencies associated with gaming and …
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