Bitcoin (BTC) has bounced 11% from the $39,650 low made on Jan.10 and currently the price is battling with the $44,000 level. There are multiple explanations for the recent weakness, but none of them seem sufficient enough to justify the 42% correction that took place since the Nov. 10 all-time high at $69,000. At the …
Yearly archives: 2022
Fidelity exec says Bitcoin is ‘technically oversold,’ making $40K a ‘pivotal support’
A painful retracement in the Bitcoin (BTC) market earlier this week sent the price below $40,000 for the first time since September 2021. Many analysts predicted the decline to continue toward the $30,000 to $35,000 range, but the price reclaimed $40,000 as support again and on Wednesday BTC made an abrupt move above $44,000. This …
Citadel Securities takes in $1.15B investment from Sequoia and Paradigm
Citadel Securities announced that VC firms Sequoia and Paradigm made a $1.15 billion combined minority investment in the market maker, bringing its valuation to $22 billion. The partnership with Paradigm, a Web3-focused investor, signaled Citadel Securities’ shift toward new asset classes such as crypto. Sequoia, who led the round, with investment from Sequoia Heritage, Sequoia …
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Bitcoin ‘death cross’ watch. What could the technical omen portend?
The price of Bitcoin fought its way up 2.9% during the past 24-hours, while general market sentiment remains in the zone of ‘extreme fear.’ To give this sentiment some wider context–the announcement of the Federal Reserve planning to raise interest rates to curb inflation came accompanied by the International Monetary Fund (IMF) warning about a …
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Blockchain experts explain what makes Bitcoin an immutable truth
This week’s Cryptonites episode dives into the evolution of blockchain–featuring some of the most prominent experts on the subject, including Don Tapscott, Ray Youssef, Andreas Antonopoulos, and Peter McCormack–talking about Bitcoin and the underlying technology that makes it the most decentralized, secure, and advanced form of money in history. The edutainment channel kicks off the …
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Iran finalizes mechanism to use cryptocurrencies in foreign trade
The Central Bank of Iran and the Ministry of Industries, Mining and Trade have reached an agreement to link the CBI crypto platform to the Comprehensive Trade System, which allows businesses to make use of cryptocurrency to settle payments to international partners. Alireza Peyman-Pak, the head of the Trade Promotion Organization of Iran, made the …
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Top Layer-1 EVMs to watch in 2022
Blockchain scalability has been a hot topic in the crypto industry for quite a while. With Ethereum suffering from congestion that caused transaction fees to skyrocket, there has been a surge of Layer-1 EVM-compatible blockchains on the market. We take a look at some of the most popular and most promising Layer-1 EVMs that are …
US inflation rate hit 7% in December, four decade high
The December Consumer Price Index (CPI) in the U.S. rose to 7.0 percent year-over-year, according to the latest inflation report from the U.S. Labor Department’s Bureau of Labor Statistics (BLS) on Wednesday. CPI is the most widely used method for tracking inflation. The inflation for December was the highest since June 1982, and rose by …
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OpenSea’s up for competition, vampire LooksRare sucking trading volume
NFT marketplace OpenSea totally dominates the NFT trading market with a market share of over 90 percent in trading volume. However, just two days after its launch, LooksRare, a “vampire attack” or decentralized clone of OpenSea, is looking to give the dominant player a fight. A vampire attack is a clone of an existing service …
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US Federal Trade Commission Warns Consumers About Falling for Crypto ATM Scam
The U.S. Federal Trade Commission (FTC) has warned consumers about scams involving cryptocurrency ATMs. “There’s a new spin on scammers asking people to pay with cryptocurrency,” the FTC described. FTC’s Warning About Scams Involving Cryptocurrency ATMs The U.S. Federal Trade Commission (FTC) issued a scam alert involving cryptocurrency ATMs Monday. The consumer notice, posted by …
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Panther Partners With ShapeShift to Add Interoperable Privacy to DeFi and Web3
press release PRESS RELEASE. As Panther pushes towards the decentralization of our protocol from Day 1 with LaunchDAO, the first-ever private and decentralized project launch, the team has unveiled a new, exciting partnership. Panther Protocol is partnering with ShapeShift, a household name of the crypto industry. ShapeShift has taken brave steps in the recent past, …
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Strike Arrives in Argentina With USDT Support, No Bitcoin Integration Yet
Strike, a bitcoin-based wallet and exchange service, has landed in Argentina, bringing USDT integration to users in the country. Jack Mallers, CEO of Strike, explained that his objective for bringing the app to the country has to do with providing a platform for Argentinians to hold a stable value in cash. This value will be …
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Jack Dorsey Introduces Bitcoin Legal Defense Fund to Protect Open Source Developers
A recent letter published to the Bitcoin developers mailing list written by Square founder Jack Dorsey indicates that a legal defense fund has been created for open source developers in order to protect them “from lawsuits regarding their activities in the Bitcoin ecosystem.” Dorsey’s letter is also signed by Alex Morcos of Chaincode Labs and …
Media Giant Associated Press Chooses Polygon (MATIC) for New NFT Marketplace
The non-profit news agency Associated Press (AP) is the latest traditional institution to show interest in non-fungible tokens (NFTs). The AP says that it is unveiling an NFT marketplace that will feature images that the news agency’s photographers have captured for nearly two centuries. The first AP NFTs will be made available at the time …
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IMF Says Growing Connection Between Crypto and Traditional Finance Pose New Risks
The International Monetary Fund (IMF) is issuing a warning to investors that a growing link between crypto assets and the stock market may pose a risk to the financial system. In a new report, the IMF says that the rising popularity of digital assets combined with their volatile prices could spell trouble for financial stability …
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