Crypto
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Bitcoin pushes to $40K, but are bulls strong enough to win Friday’s $735M options expiry?
Bitcoin (BTC) price has been stuck in a falling wedge pattern for the past two months and during this time it has tested the $37,600 support on multiple instances. Adding to this “bearish” price action, BTC is down 16% year-to-date, which is in line with the Russell 2000s performance. Bitcoin/USD 1-day chart at FTX. Source: TradingView The real driver of Bitcoin’s current price action is investors’ concerns about worsening macroeconomic conditions. Professional investors are worried about the impact of the U.S. Federal Reserve’s tightening economic policies and on May 3, billionaire hedge fund manager Paul Tudor Jones said that the environment for investors is worse than ever because the monetary authority is raising interest rates when financial conditions are already worsening. On ...
Hundreds of NFTs listed on OpenSea from Shanghai residents during COVID lockdown
The city of Shanghai has been in a month-long mandated quarantine, which confines its 25 million residents to their homes. Initially, the latest COVID-19 outbreak began in March of this year and developed into the worst infection zone since the beginning of the pandemic. As the virus infected hundreds of thousands of people, the extremely restrictive lockdown prevented residents from leaving their homes for weeks on end. In addition to the spike in infections, the lockdown prevented people from obtaining food and medical treatment, and introduced other austerities. This led to frustrated citizens taking to the internet for solidarity and venting. However, government authorities have been reportedly censoring videos that surfaced on the internet showing scenes of confinement within Sh...
Coinbase’s plans to purchase firm behind Mercado Bitcoin fall through: Report
Coinbase and Brazilian company 2TM, the parent company of Mercado Bitcoin, have reportedly scrapped talks around the crypto exchange purchasing the firm. According to a Tuesday Bloomberg report, 2TM and Coinbase have ended discussions around the United States-based crypto exchange buying the Brazilian company, which was valued at more than $2 billion. It’s unclear what led to the purchase not going through, as 2TM reportedly declined to comment and a Coinbase spokesperson said it was simply “committed to the Brazilian market.” Coinbase and 2TM scrapped talks over a possible purchase by the exchange of the Brazilian cryptocurrency brokerage https://t.co/HmZxDj7Koi — Bloomberg Crypto (@crypto) May 4, 2022 As the parent company of Mercado Bitcoin — one of the largest crypto brokerage firms in...
France’s financial authority approves Binance’s registration as digital asset service provider
The Autorité des Marchés Financiers (AMF), France’s authority responsible for regulating the financial market, has granted Binance’s registration to provide crypto-related services in the country. In a Wednesday update, the AMF included Binance France SAS in its list of registered digital asset service providers in France. The registration was a step toward allowing the crypto exchange to provide crypto-related services in France including custodying assets, exchanging digital assets for other tokens or legal tender, and operating a digital asset platform. According to the AMF, registration requires checks to ensure “good repute and competence of the managers and beneficial owners” as well as compliance with regulations on anti-money laundering and combatting the financing of terrorism. Bi...
The Flippening: Ethereum Has Overtaken Bitcoin in 26% of Countries Worldwide
26% of nations have more Ethereum investors than Bitcoin, including USA Argentinians are the biggest Bitcoin maxis, with 73% of cryptocurrency investors holding the coin, as inflation skyrockets in the country Meme mania is highest in the USA, with more American Dogecoin investors than any other country Japan is the most bullish on Solana dethroning Ethereum as the King of DeFi Intro Once upon a time, Bitcoin was the world’s only cryptocurrency. The industry has come a long way since, however, and today we have over 18,000 cryptocurrencies serving a variety of use cases. Some have aimed to compete with Bitcoin, while others have almost nothing in common with it. We have meme-coins, such as Dogecoin and Shiba, which have taken the world by storm. We have the burgeoning industry of DeF...
MicroStrategy booked losses in Q1, with plunging Bitcoin price
The largest corporate Bitcoin holder recorded a Bitcoin impairment loss of $170.1 million in the first three months of 2022 Its latest Bitcoin addition was funded by a $205 million Bitcoin-backed loan. The world’s largest enterprise Bitcoin hodler MicroStrategy on Tuesday released its first-quarter 2022 financials, revealing a total revenue of 119.3 million, down 2.9% on the year. A tough Q1 MicroStrategy also said it saw a cumulative impairment loss of $1.071 billion on its Bitcoin Strategy. In the three-month period ending March 31, during which Bitcoin dropped by 1.2%, the software intelligence firm held 129,218 BTC, which at the time had a total market value of $5.893 billion and a carrying value of $2.896 billion. The company’s most recent purchases saw as many as 4,167 BTC...
Ethereum “Flippening” debate to resurface post-Merge?
Once upon a time in crypto-land, the word “Flippening” was brandished about daily. The term is slang for the much-discussed possibility of Ethereum “flipping” Bitcoin’s market cap, and hence becoming the world’s biggest cryptocurrency. But recently, there has not been as much talk about a new King, as the below Google Trend data for the search term “Flippening” shows. Regarding the price action, 1 ETH is now worth 0.06 BTC, having been close to 0.09 BTC before Christmas. As has become customary in the crypto markets, Bitcoin has held up better than its smaller counterparts, as the entire market has wobbled in 2022. However, the scale of ETH’s decline, denominated in Bitcoin, is indeed surprising, and steeper than we had seen for most of the pandemic bull run. Bitcoin Strength However...
Happy birthday Hal Finney: Crypto community honors world’s first known Bitcoiner
Finney was also the first person to publicly run Bitcoin (BTC), going down in the annals of crypto Twitter history with a famous tweet that often resurfaces: Raise a glass to the world’s first Bitcoiner today. Hal Finney, the first person to receive a Bitcoin transaction from none other than Satoshi Nakamoto would have celebrated his birthday today. Running bitcoin — halfin (@halfin) January 11, 2009 On Bitcointalk.org, Hal Finney explained that when Satoshi first released the software, he “grabbed it right away.” “I think I was the first person besides Satoshi to run bitcoin. I mined block 70-something, and I was the recipient of the first bitcoin transaction, when Satoshi sent ten coins to me as a test.” The wallet address for the 10 Bitcoin transaction tells a story: surging to 10 ...
Polkadot launches cross-chain messaging system to solve blockchain’s bridge problem
Blockchain platform Polkadot has launched a new cross-chain communications protocol, saying it will do away with cumbersome bridging mechanisms that have cost the crypto industry billions in cyber attacks. The newly launched XCM messaging system is intended to promote Polkadot’s multichain ecosystem, which is being built on the premise of full interoperability. XCM channels are said to be secured at the same level as Polkadot’s central hub, dubbed Relay Chain, and are also available for use by parachains. In other words, XCM will enable communication between parachains themselves as well as smart contracts. Future iterations of XCM will allow messages to be sent between parachains without having to be stored on the Relay Chain, thereby improving scalability and eliminating governance...
Little by little, blockchain technology is beginning to appear around the house
Blockchain technology is familiar to cryptocurrency users and national banks, and awareness of it is spreading fast to gamers. Applications in industry, particularly supply chain management, have been appearing as well. Through them, blockchain technology may improve domestic life in unseen ways, such as ensuring high-quality food, responsibly sourced seafood, or preventing the counterfeiting of pharmaceuticals. Nonetheless, the home may be blockchain’s final frontier. Blockchain penetration at the household level is so far quite low, but day-to-day utility was no afterthought for blockchain developers. Christoph Jentzsch, Simon Jentzsch and Stephan Tual, who in 2016 created The DAO — the short-lived first decentralized autonomous organization (DAO) — introduced Slock.it, “the first ...
The creator economy will explode in the Metaverse, but not under Big Tech’s regime
In his monthly crypto tech column, Israeli serial entrepreneur Ariel Shapira covers emerging technologies within the crypto, decentralized finance (DeFi) and blockchain space, as well as their roles in shaping the economy of the 21st century. With the news that Meta plans to take a nearly 50% cut of virtual asset sales in Horizon Worlds, it will not be surprising if independent artists and content creators turn away from the Metaverse entirely. Or at least from its Meta rendition, no matter how excited the company might be about the creator economy. It’s one thing to pay this much when the taxes go toward making life better for your community, but Meta is a business, not a charity. And it’s not like your average creative type is living the high life. Streaming services have made life harde...
Jumping early on these gamefi tokens can yield high returns
The Sandbox (SAND), STEPN (GMT), and Gala (GALA) are some of the best gamefi tokens that you can jump into. Each token has showcased high levels of growth. All of these tokens have the potential to reach new heights. The Sandbox (SAND), STEPN (GMT), and Gala (GALA) are all solid gamefi tokens. Dubai virtual asset regulatory authority VARA announced its Metaverse debut within The Sandbox. This marked the first time a crypto regulatory authority made its presence within the metaverse by launching its virtual digital headquarters. On May 3, STEPN also posted its success story on Twitter, which drove additional interest in the project. Gala Games announced their May Mayhem, which brings rewards, non-fungible tokens (NFTs) as well as other benefits. We will be going over e...
