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After 10 long days, Mike Novogratz broke his silence on the Terra/ Luna situation. Considering that he was one of the protocol’s main proponents and even got a Luna tattoo, the community’s interest in Novogratz’s opinion is justified. “My tattoo will be a constant reminder that venture investing requires humility,” Galaxy Digital’s CEO said in […]
A panel of specialists at Finder has predicted the death of shiba inu (SHIB) cryptocurrency. The majority believes that the price of the meme crypto will eventually fall to zero. In addition, “Our panel is overwhelmingly out on SHIB, with 73% saying that now is the time to sell.” SHIB’s Price Prediction Leading price comparison […]
1944 marked the founding of the International Monetary Fund (IMF). About 190 countries in its membership rely on it for exchange rate stabilization. In response to the emergence of cryptocurrencies over a decade ago, the International Monetary Fund (IMF) emphasized that this development can make the financial system of countries porous since the market is not regulated. IMF sanctions El Salvador suffered IMF sanctions for adopting Bitcoin as a legal tender and making purchases of more Bitcoin during dips. Just a few weeks ago, the Central African Republic (CAR) joined El Salvador in adopting Bitcoin as a legal tender. This action brought a lot of criticism to the government of CAR by the International Monetary Fund and other international institutions. The fear of IMF sanctions could impact negatively on the speedy adoption of cryptocurrencies in the following ways: Fear of open support for cryptocurrencies by countries Imposition of laws preventing citizens from participating in Crypto activities Fear of Open Support for Cryptocurrencies by Countries The membership had 190 countries in total. Due to the fear of sanctions, only a few countries in the membership adopted cryptocurrencies as legal tender. They worried these IMF sanctions would prevent them from accessing international loans during any financial crisis. Different countries that understand the importance of cryptocurrencies in the long term seek this support to ali...
Major US-based crypto exchange Coinbase is backing the development of the "first-ever" enterprise-grade liquid staking protocol, bringing know-your-customer (KYC) checks to the world of decentralized finance (DeFi). According to an announcement from Coinbase on Tuesday, the new liquid staking protocol is being developed by Alluvial, a development firm made up of people with experience from various DeFi-related projects....Read More: Coinbase Bets On 'Enterprise-Grade' Liquid Staking Business
Most investments don't go to $0 because as their price drops they get cheaper.There is an earnings mechanism that preserves the value of the investment.Bitcoin does not have this protection and can actually go to $0.
The entire crypto market is trying to recover from the recent crash. However, in the case of the Polkadot token, after breaking out of a symmetrical triangle pattern on 17 May and trading above the $10 level, the bears appeared to have spotted the coin. How so? After recording a high of $11.29 during intraday […]
“MicroStrategy is the only Bitcoin spot exchange fund in the United States.” This was a statement MicroStrategy CEO Michael Saylor made at the Bitcoin 2022 conference in Miami. He also stated that “we are comparable to our nonexistent spot ETF.” The SEC approved ETFs that track futures contracts. However, they haven’t authorized the use of digital currency. This allows investors to invest in Bitcoin without signing up on an exchange, creating a cryptocurrency wallet, or handling complications associated with Bitcoin. “If a spot ETF existed, its fee ratio would be 1%, and it would not employ leverage. “We use MicroStrategy to convert cash flows of software companies into Bitcoin.” Saylor indicates that the tax-free profit of the MicroStrategy Bitcoin spot ETF is between 4% and 5%. Saylor founded MicroStrategy in 1989, and they have been adding Bitcoin to their balance sheet for the past two years. The company has spent close to $4 billion on Bitcoin, which costs an average of $30,700 per unit. Normalizing Bitcoin-backed Finance MicroStrategy added Bitcoin to its balance sheet in August 2020, which wasn’t so popular then. The coin was worth around $11,000 at the time. Institutional investors and Wall Street companies were sceptical of digital assets at the time. However, they later thought Saylor’s made a wise decision. The price of Bitcoin increased dramatically in October 2020. This made fund managers like Stanley Druckenmille...
Bitcoin open interest has been on a downtrend recently. This is not surprising given that the price of the digital asset had also been declining in recent times. The past week has seen this downtrend mostly driven by movements on the crypto exchange, Binance. Despite this decline, it is still not all bad for bitcoin […]
Stablecoins are a type of digital currency. The developers designed them to maintain their value over time and linked them to a fiat currency, usually the US dollar. In this configuration, one unit of cryptocurrency equals one fiat currency unit. In contrast to extremely volatile cryptocurrencies such as Bitcoin, the value of stablecoin is constant. However, due to recent events in the stablecoin market, like the crash of TerraUSD, the government is actively investigating this sector. Treasury Secretary Janet Yellen has stated that stablecoins threaten financial stability. In addition, the Federal Reserve issued a paper condemning the lack of transparency and regulation in the stablecoin market. What are Stablecoins? Stablecoins are cryptocurrencies that have their value connected to another asset. Most of the time, the other asset is fiat money, such as the US dollar or the euro. The coin’s value remains stable over time, at least in proportion to its linked currency. This is because the underlying asset’s value remains constant. In some ways, it’s as if the underlying asset, such as a dollar, has been transformed into a computer file. They back up stablecoin by the asset to which it links because they aim to track an asset. A company that produces a stablecoin, for example, will regularly set up a reserve with a financial institution that owns the asset on which the stablecoin is based. Most cryptocurrencies, such as Bitcoin...
Trading platform Robinhood is launching a non-custodial, web3 cryptocurrency wallet. “Customers will be able to hold the keys for their own crypto,” the company said. Robinhood Building Non-Custodial, Web3 Wallet Popular trading platform Robinhood announced Tuesday that it is “building a brand new non-custodial, web3 wallet that will allow customers to have total control of […]
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice After the EMA ribbons denied all buying retrieval attempts over the last six weeks, SAND bears pulled the altcoin down to its $1.11 lows last week. This devaluation has impaired the bullish capability to find […]
A closely tracked crypto strategist is outlining what’s in store for leading smart contract platform Ethereum and two ETH challengers, including Solana (SOL). In a new strategy session, pseudonymous analyst Cred says Ethereum might have printed a tradeable range provided that the bottom at $2,000 holds. “This might be our range for some time. Support […]
The mid-week lull was swiftly broken as Bitcoin fell below the $30,000-mark – yet again. While you might feel the urge to blame world events or broader market factors for this dip, you’d be well advised to think again. Strange movements are afoot, and their ripples might just be the trigger for Bitcoin’s latest fall […]
Retail trading platform Robinhood is launching a new non-custodial crypto and non-fungible token (NFT) wallet in the company’s latest push to embrace the digital asset space. According to a new press release, the trading titan has started developing a multichain Web 3.0 wallet that will allow investors to have total control of their digital assets […]
Cryptocurrency donations fund the operation of the independent Russian news site “Meduza.” This was a result of the pressure from the Kremlin and sanctions from the West. With the restrictions imposed as a result of the invasion of Ukraine, the Riga-based website now accepts a variety of digital coins from its Russian readers. Journalists Pulled out of Russia As Meduza Seeks Crypto Support According to Bloomberg, the Ukrainian conflict has had multiple effects on the Russian news website, Meduza. First, President Vladimir Putin’s government prevented journalists from reporting the conflict when the Kremlin launched its special military operation. This compelled the news organization to seek assistance transporting 25 journalists to Latvia. Because of Western sanctions, the 30,000 Russian readers who assisted Meduza before the conflict cannot send money through Stripe because the payment processor has ceased operations in the Russian Federation. The sanctions acted in compliance. What Could Be The Secret? Because of the war and the sanctions, Meduza requested funds from its international readers in US dollars, euros, or cryptocurrencies. As a result, it now accepts credit cards, bank wires, PayPal, and a variety of cryptocurrencies, including bitcoin (BTC), ether (ETH), tether (USDT), and Monero a privacy-protecting cryptocurrency (XMR). According to the report, the BTC and ETH wallets have accumulated approximately $230,000 in...
Dogecoin [DOGE], at its best, can be described as a blockchain with use cases particular to payments and transactions. According to many, the crypto has nothing more to offer. Without any DeFi capabilities, the existence of DOGE is just a joke, a joke that DogeFather continues to propagate. Dogecoin – The king of memecoins For […]
Ethereum’s network looks all set for the year 2022 and for the years to come, as per a new report released by a16zcrypto. The 2022 State of Crypto report discussed the trend lines of the crypto-industry and the development of Web3. Lying at the heart of it is Ethereum with its smart contract platforms that […]
If you’re a crypto fan and you fancy bringing your heart rate up on the treadmill or bench pressing and pumping iron, you may want to give Equinox a try. As a luxury fitness center in New York, the company recently announced it’s going to permit crypto payments for gym memberships and merchandise. Equinox Is...
A new law in Ukraine made donations with Bitcoin (BTC), Dogecoin, other cryptocurrencies, and digital assets official. In addition, El Salvador legalized only Bitcoin transactions, therefore causing photos of McDonald’s Corporation receipts from Bitcoin customers to trend. The founder and CEO of Tesla, Inc., Elon Musk, is famous for mocking McDonald’s for accepting Dogecoin. Similarly, companies such as Petco Health and Wellness Company, Inc. and AMC Entertainment Holdings, Inc. are beginning to accept Dogecoin. However, they require miners to create more Bitcoin and Dogecoin. However, there are a few BTC miners available. Hello Pal’s Contribution To Dogecoin Mining Hello Pal International Inc. is the first platform that contributed to the live streaming and mining of Dogecoin. It became the first publicly-traded company focused on DOGE mining in May 2021. Unfortunately, the website experienced a large traffic surge that was temporarily unavailable when many people reacted to the news. The popular live streaming platform allows users to participate in mining by purchasing cryptocurrency mining rigs in whole or part. The company has made a lot more money after adding Litecoin/Dogecoin mining rigs. Since then, the platform has added more Antminer L7 mining rigs to its fleet, making 400 in total. Hello Pal’s founder and chairman, KL Wong, stated that the company’s live-streaming operations continue to generate strong operating re...
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice XRP had to be a witness to bearish rallies that pulled the alt all the way to its $0.33-baseline last week. A strong rejection of prices at the 70.2%, 61.8%, and 38.2% Fibonacci hurdles provoked […]
On May 18, the billionaire investor and crypto proponent Mike Novogratz published a post about the recent Terra blockchain fallout. Novogratz and his firm Galaxy Digital were big believers in the Terra project, and the investor even got a LUNA-centric tattoo on his arm. Despite the recent events and losses, the crypto economy felt this […]
A popular crypto analyst is using a refined technical analysis metric to plot out where Bitcoin (BTC) is headed as the markets try to recover from a rocky few weeks of trading. In a new strategy session, Benjamin Cowen tells his 741,000 YouTube subscribers he prefers to use Heikin-Ashi candles when analyzing Bitcoin because the […]
TerraUSD, one of the many cryptoassets whose value was supposedly pegged to the U.S. dollar, imploded last week.Crypto derivatives are often denominated in Tether, which is also often used as collateral. Its collapse would inflict widespread losses.With minimal interest income, a fully cash-backed stablecoin might have to charge transaction fees to cover its costs, potentially sending users elsewhere.
Ethereum (ETH), the second most valuable blockchain network in the world, still dominates the Web3 landscape due to its early start, although other blockchains such as Solana (SOL) are trying to catch up, a new report from venture capital giant Andreessen Horowitz (a16z) has said....Read More: Ethereum Leads in Web3, but Multiple Winners Possible – a16z Report
The “People Power Party” representative, a South Korean politician Yoon Chang-Hyeon called a parliamentary hearing on TerraUSD (UST) due to its sudden collapse last week. According to a report from South Korean Newschannel “Newspim” on Tuesday, May 17, at a plenary meeting of the National Assembly’s Political Affairs Committee, Yoon Chang-Hyeon stated; We should bring […]
Former Twitter CEO Jack Dorsey is standing firm on his belief in leading crypto asset Bitcoin (BTC), saying that it will eventually be the global standard for money transmission and the native currency of the internet. According to a new report by CNBC, the CEO of payments platform Block outlines how the future of the […]
Block (NYSE:SQ), formerly known as Square, has emphasized its commitment to bitcoin (BTC-USD) through the ongoing development of its bitcoin hardware wallet, as well as prospects for selling open-source application-specific integrated circuit ("ASIC") mining rigs. While Bitcoin (BTC-USD) accounted for just 5% of Block's (SQ) revenues as of the end of March, the crypto will enable its "entire business to move faster globally," CEO Jack Dorsey, a long-standing advocate of BTC, said during his company's investor day, its first such event since 2017. “The internet requires a currency native to itself, and in looking at the entire ecosystem of technologies to fill this role, it’s clear that bitcoin is currently the only candidate,” Dorsey said. Block's (SQ) bitcoin-centric vision followed its move to integrate the Lightning Network on its Cash App in an effort to enable bitcoin (BTC-USD) transactions. Earlier, Block mapped out a path to growth through bitcoin, Tidal, Square and
“Wen MimbleWimble [MWEB] update?”, you ask. Well, according to Charlie Lee, Managing Director of the Litecoin Foundation, the MWEB upgrade is estimated to activate on 19 May at 8:30 p.m. (5/20 3:30 a.m. UTC). With the promise to enhance the user experience by providing users the option to make confidential transactions on the Litecoin network, […]
Decentralized Autonomous Organizations (DAOs) are one of many modern blockchain technologies promising a blockchain-based solution for decentralized automated management of any organization. DAOs are a popular governance model in the blockchain sector, with crypto’s roots in decentralization. With a little technical expertise and certain tools, you can quickly set up a DAO. But first, you’ll need a solid strategy and a supportive community. So let’s go over the fundamentals of what you’ll need and how to build up your DAO. What are DAOs? A decentralized autonomous organization (“DAO”) is a group of entities owned and managed with rules written only in computer code. These rules are organized based on the blockchain and given a structure with smart contracts. With Ethereum’s 2016 venture capital fund, “The DAO,” DAOs became well-known. Unfortunately, the project was attacked three weeks into the token sale owing to a programming vulnerability. The funds were later returned due to a hard fork. Despite its early difficulties, the DAO concept has become one of the most widely used governance models for Decentralized Finance (DeFi) projects. However, every DAO is different from each other but must have and follow the same basic principles. How do DAOs work? Smart contracts are known as the main backbone of a DAO. These contracts help hold the group’s treasury and define the organization’s rules. Only a vote can help a group member ...
Cross Tower – a cryptocurrency exchange in India – regulates trading and investing in crypto for institutions. Not long ago, the company launched a set of over the counter (OTC) services, hoping to help high net-worth individuals to get involved in this growing space. Cross Tower Is a Leading Crypto Exchange in India Vikas Ahuja...
On-chain data shows the USDC exchange reserves have started to trend downwards recently, a sign that buyers may be exchanging the coin for Bitcoin and other cryptos. USDC Reserves On Exchanges Have Fallen Down Over The Past Few Days As pointed out by an analyst in a CryptoQuant post, investors may have started to exchange […]
Binance, the world’s largest crypto exchange by trading volume, is not abandoning its efforts to spread its tentacles to new jurisdictions and expand its global footprint despite the recent crypto market bloodbath. CEO Changpeng Zhao revealed Wednesday that the leading exchange is applying for official licenses to operate its regulated trading platform in Germany. Binance […]
While the broader crypto market is battling macroeconomic uncertainty, geopolitical tensions, and rising inflation, interest in the play-to-earn (P2E) blockchain gaming economy remains apace, realizing outsized momentum relative to other blockchain segments. Play-to-Earn Momentum Over the last few years, the play-to-earn ecosystem has grown extensively, primarily due to its unique combination of GameFi (gaming + financial opportunities). It has changed the dynamics of the traditional gaming industry by leveraging blockchain technology, NFTs, and decentralization to offer players full ownership of in-game assets. At the same time, it has enabled players to generate revenue by unlocking multiple utilities through in-game tokenomics and secondary marketplaces.
US-based cryptocurrency trading platform Coinbase is launching new ways for users to access decentralized applications (DApps) in the Ethereum (ETH) ecosystem. The crypto exchange says it is releasing a new DApp wallet and browser that will allow users to buy digital collectibles, trade crypto assets on decentralized exchanges and participate in decentralized finance (DeFi). The […]
San Francisco-based payments company Ripple is partnering with a Lithuanian financial technology (FinTech) firm to facilitate cross-border money transfers. In a new press release, Ripple says it’s joining forces with the Vilnius-headquartered FINCI to offer services for both retail and business-to-business (B2B) customers. RippleNet’s On-Demand Liquidity (ODL) protocol will leverage XRP to enable payments between Europe […]
Binance, the world’s largest crypto exchange by trading volume, is not abandoning its efforts to spread its tentacles to new jurisdictions and expand its global footprint despite the recent crypto market bloodbath. CEO Changpeng Zhao revealed Wednesday that the leading exchange is applying for official licenses to operate its regulated trading platform in Germany. Binance […]
Bitcoin miner profitability has two key inputs: miner difficulty and bitcoin price. Neither is moving in the right direction for the miners.As a result of that, most miners have sold off 70 to 80 percent from highs.Iris Energy is attempting to scale up a large mining operation while marketing itself as a clean energy miner.
Another major boost to Bitcoin adoption is here in the same week as El Salvador discussed cryptocurrencies with delegates from 44 countries. So far, the Russian authorities were highly vocal in support of Bitcoin. Russia’s Industry and Trade Minister Denis Manturov suggested the country could soon come up with a Bitcoin breakthrough. The minister was
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice Dogecoin has been on a relentless downtrend since November. While Bitcoin has also been on a downtrend since November, the time period from January to late March suggested that a bullish move was possible for […]
We’ve all heard the hype about cryptocurrencies. They are almost entirely into the mainstream, and owning a few coins sounds like a good idea. But what’s the safest way to keep them? Here are some of the best BNB wallets of 2022 that you can use if you invest in the Binance coin. Best BNB Wallets of 2022- Binance Chain Wallet The Binance Chain wallet is the official wallet for the Binance Coin, and so it is the most feature-rich wallet for the Binance coin. This makes it the sought and one of the best BNB crypto wallets of 2022. It’s also useful in accessing the Binance Chain, Binance Smart Chain, and Ethereum. It is trustworthy and reliable since Binance makes it. The wallet also has the approval and conforms with FCA. Using the wallet is easy, especially if you already have a Binance account. All you need is to link it with your wallet directly. You don’t have to worry about losing access to your wallet. You can always recover it via your Binance Chain wallet seed phrase, Gmail login, local device, or the account tkey credentials. Since it’s the official wallet for Binance, transaction fees are quite low compared to competitors. The wallet tends to lag in some situations and takes a little longer to respond. However, their excellent customer service will help you in a difficult situation. Coinomi Although Coinomi is a multi-chain wallet, it’s a top security wallet for Binance that users highly rate and consider one of the be...
The blockchain firm Aave has launched the Lens Protocol, a social media project with applications built on the Polygon blockchain. Lens is similar to the social media platform Twitter but Lens profiles are linked to a non-fungible token (NFT) that can be ported into decentralized applications. Lens Protocol Is Live – Aave Founder Believes People […]
Summary: Terra’s proposal 1623 to fork the chain has thus far gathered the support of 90% of the community. Voting for the Terra proposal is underway and will continue for the next seven days. 95.4 million votes have been cast, roughly 25% of the potential total voters on Terra. The proposal needs a 50% threshold in terms of votes to pass. The Terra proposal is the second iteration of Do Kwon’s first suggestion to fork Terra into a new chain […]
Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), says that new staff members at the agency will begin to focus on investigating crypto-related complaints of misconduct. In a testimony to the Subcommittee on Financial Services and General Government U.S. House Appropriations Committee, Gensler said that crypto markets are increasingly becoming a […]
Major Terra (LUNA) backer Mike Novogratz of Galaxy Digital is still largely silent on the downfall of LUNA and the terraUSD (UST) algorithmic stablecoin, while some other institutional investors have put out vague statements that called the incident “hell for our entire community” and “incredibly humbling.”...Read More: From Silence to Humbling Hell - Major Terra Backers Keep Low Profile as the Small Guy Is 'the Biggest Loser'
Mike Novogratz, the billionaire CEO of crypto investment manager Galaxy Digital, opined on the recent crisis in the Terra blockchain ecosystem, which saw the market collapse of both the LUNA token as well as the algorithmic stablecoin UST.
