Crypto
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Bitcoin retreats toward $38K after Friday sparks losses for ‘nearly everything’ outside China
Bitcoin (BTC) fell into the May holiday weekend after late trading saw crypto losses echo “basically everything.” BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Macro keeps BTC firmly in its place Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reversing at $38,180 on Bitstamp to circle $38,600 on April 30. The pair had performed weakly on April 29, and this nonetheless echoed the vast majority of traditional assets — with the notable exception of Chinese equities. “Almost everything went down today besides gold, platinum, and Chinese stocks,” economist Lyn Alden summarized. With that, the S&P 500 finished on April 29 down 3.6% and the Nasdaq 100 down 4.5%. Hong Kong’s Hang Seng, on the other hand, gained 4% overall. The United States Dollar I...
Is Web3 like playing Minecraft?
Web3 puts major companies like Meta out of business and gives every user rights to develop the next big thing together. Decentralization and the combination of humans and machines will be the heart of the Web3 projects. There is a reason for users’ passive participation: We’re still busy trying to get the biggest part of the pie. But now, Web3 is in the pipeline. This is going to change radically. In the upcoming years, there’s going to be a shift from tech giants who are “the boss” to individuals who are taking the lead. When the development of Web3 is concluded and if you’re working within IT, blockchain or crypto space, you’re working on it too, we’re all going to be the boss. Data is going to be stored in a...
Entering NFTs: Understanding the environmental impact of digital collectibles
NFTs have taken pop culture by storm over the past year. On a nearly daily basis, a new celebrity announces their interest in the emerging technology — usually by dropping an NFT collection. From Quentin Tarantino’s Pulp Fiction NFTs to Snoop Dogg’s NFT music label, a wide range of notable names are beginning to realize the creative value that NFTs offer. While celebrity involvement has played a key role in raising mainstream awareness about the array of NFT use cases and investment potential, it has also drawn the ire of some fans. In the midst of the hype surrounding the NFT phenomenon, apprehensions have grown about the technology’s environmental impact. In one notable example, the popular South Korean boy band BTS faced significantpushback a few months ago in response to their plans to...
VC Roundup: Gaming, crypto fintech and blockchain infrastructure dominate venture capital rounds
Cryptocurrency markets remain caught in a macro-based downtrend, with Bitcoin (BTC) and Ether (ETH) showing further signs of weakness at the end of April. But, venture capital activity in the crypto and blockchain sectors is the strongest it has ever been, offering further evidence that major investors are looking beyond immediate price action and ignoring divisive bull/bear narratives. The latest edition of VC Roundup highlights the growing excitement surrounding Web3 gaming, decentralized finance (DeFi) and blockchain infrastructure. The first quarter of 2022 was brutal for crypto prices, but venture capital activity was the strongest ever. bloXroute secures $70M from major investors Blockchain distribution network provider bloXroute has raised $70 million in funding to continue de...
Smart money is accumulating Ethereum even as traders warn of a drop to $2.4K
The upcoming Ethereum merge is one of the most widely discussed topics in the crypto sector and analysts have a wide range of perspectives on how the transition to proof of stake could impact Ether’s price. ETH/USDT 1-day chart. Source: TradingView Whales accumulate ahead of the merge A deeper dive into the ongoing accumulation of Ether by whale wallets was provided by cryptocurrency intelligence firm Jarvis Labs, which posted the following chart looking at the percentage change in whale wallet holdings versus ET price. Ether whale holding change. Source: Twitter The color of the dots relates to the price of Ether, with the chart showing that whale wallets began decreasing their holdings when the price was above $4,000 and they didn’t start to reaccumulate unti...
Meta to launch metaverse hardware store, Elon Musk buys Twitter for $44B and ApeCoin pumps to new highs: Hodler’s Digest, April 24-30
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Elon Musk buys Twitter for $44B — crypto industry reacts Eccentric billionaire Elon Musk bought Twitter for around $44 billion this week, or $54.20 per share in cash. After the deal was accepted, Musk said he hoped that “even my worst critics remain on Twitter, because that is what free speech means.” The crypto industry’s reaction was mixed, with Dogecoin co-creator Jackson Palmer describing the acquisition as a “hostile takeover” antithetical to the idea of freedom, while Bitcoin bulls Anthony Pomplian...
Bitcoin network difficulty breaks into a new all-time high of 29.794T
Reassuring its position as the most resilient blockchain network against attacks, the Bitcoin (BTC) network recorded a new all-time high network difficulty for the second time this month in April — jumping from its previous all-time high of 28.587 trillion to 29.794 trillion. Greater network difficulty demands greater computational power to successfully mine a BTC block, which prevents bad actors from taking over the network and manipulating transactions, also known as double-spending. As evidenced by data from blockchain.com, Bitcoin’s network difficulty has seen almost a year-long uptrend since August 1, 2021. Before that, between May and July 2021, was a timeline when BTC network difficulty fell nearly 45.5% from 25.046 trillion to 13.673 trillion — at the time raising momentary concern...
Binance to drive crypto and blockchain awareness among Indian investors
Crypto exchange Binance announced the parallel launch of three key educational initiatives to fast-track educating Indian investors and students about the cryptocurrency and blockchain ecosystem. While recognizing the importance of investors’ awareness of crypto and blockchain, Binance highlighted that Indian regulators and policymakers cite the lack of education as an area of concern, which currently hinders the widespread adoption of crypto. Primarily targeting the student demographic in India, one of the three educational initiatives launched by Binance involves the initiation of the ‘Blockchain for Good’ Ideathon, a platform for college students to come up with solutions for making crypto more accessible and inclusive. Binance also partnered with India-based crypto influencers and educ...
Solving the ‘Sunrise Issue’ is the key to unlocking crypto mass adoption
We have all been there. You see something, hear something, or feel something, and want to share that feeling or observation with someone else. Do you pick up the phone? Send over a text? Record a voice note? Humans thrive in our shared experiences: a captivating concert, the winning goal of a sports match, waking up to watch the sunrise. There’s something fulfilling about having an experience and being able to share it with someone in real time. And due to technology, we can do that, even if another person, call them our counterpart, is halfway across the world. So why wouldn’t we expect the same level of seamless communication and collaboration across an industry built around that very idea — total interconnectivity and a global reach? Crypto was built to democratize access to...
These are the BTC price levels to watch as Bitcoin risks worst April on record
Bitcoin (BTC) sits at a historically important price point for hodlers, but where could it be headed in the coming days? As the monthly close looms and various countries prepare for the May holidays, traders are mapping out the options — with some surprises. $35,000 becomes key focus While Bitcoin market commentators rarely agree on much, one thing is more or less accepted this week — that April’s monthly close will be volatile. Due over the weekend, that volatility has the potential to be exacerbated by a lack of trading volume thanks to markets being off either for the weekend or long weekend. Even with macro participation, however, the situation would seem not to favor Bitcoin bulls. As Cointelegraph reported, Friday saw major indices, with the notable exception of China, finish i...
4-digit ENS domains spike in demand this week and continue soaring
Ethereum Name Service, or ENS, .eth domains ranging from 0000 to 9999 have recently been causing a stir among NFT investors, speculators and enthusiasts alike. Even though three- and four-digit names have been around for years, the number of people registering for ENS domains and purchasing these digit number names on secondary markets over the past week has significantly affected the market’s trading volume. According to a Dune Analytics dashboard for ENS, the spike in sales began on April 21, and the number of eth. name registrations has since jumped from 2,721 to 21,188 by April 28. Over the last seven-day period, ENS domains’ trading volume on OpenSea climbed by 3,333% to 2,613 ETH, or $7.3 million, at the time of writing. The last 48 hours have seen the most...
Making crypto conventional by improving crypto crime investigations worldwide
When times are tough — as in the pandemic — enterprising human nature goes into overdrive. People seek out alternative ways to make money. That could be one of the reasons why cryptocurrencies skyrocketed in popularity in the last few years, driven in part by large numbers of people sitting at home wondering how to beat low-interest rates and rising inflation. Where there’s cash, however, there are also criminals. Bad actors are experts in human behavior and see building momentum and increased crypto traffic as a huge opportunity, knowing that many newer investors may not do their homework. Investors might not apply the same level of scrutiny to crypto as they would their pensions or other investments, and there’s not a lot of regulatory oversight globally. So, a simple splash page or mess...
