Crypto
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Bitcoin threatens $38K as 3-day chart hints at March 2020 Covid crash repeat
Bitcoin (BTC) further tested $38,000 overnight as the weekend began with uncertainty among traders. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView 3-day chart could be “precursor” for weekly Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $39,000 after several attempts to break $38,000 support. The pair had also seen a brief spurt above $40,000 Friday thanks to geopolitical developments, this nonetheless lasting a matter of minutes before the previous status quo returned. Such “fakeouts” to higher levels — which ended with Bitcoin coming full circle and liquidating both short and long positions — was already familiar behavior for market participants this month. Now, however, lower timeframes were beginning to show signs that a more...
LimeWire Returns As NFT Marketplace to Right the Wrongs of Its Troubled Past
12 years after closing shop, LimeWire is back to reckon with its controversial past—and pave a new path forward. For the uninitiated, LimeWire was the go-to peer-to-peer file sharing service that dominated the early 2000s. Predating the all-access model of today’s streaming services, the controversial platform was used as a workaround for music fans who didn’t want to purchase individual songs or albums via iTunes and other digital music stores. It was as simple as downloading and playing, though it did put even the most formidable antivirus software products through the wringer. LimeWire’s reign effectively came to an end when successful lawsuits initiated by major record labels and music rights-holders resulted in a staggering $105 million in fines. LimeWire’...
PwC report calls NFTs ‘the future of digital assets in sports’
Nonfungible tokens, or NFTs, and digital assets are one of the ten major trends within the sports industry, according to the consultancy Price Waterhouse Coopers’, or PwC, Sports Outlook 2022 report for North America. From altering sports technology infrastructure to driving fan engagement, the report lists three main use cases for NFTs and their likelihood to shape the future of sports. The first use case is collectible NFTs — assets used to sell collectible, authenticated and limited edition digital content. This refers to traditional memorabilia like trading cards of players or tickets stubs of historic matches that can be digitized, minted and traded on the blockchain. The report added that these collectibles could eventually be displayable and shared across metave...
Immutable X (IMX) gains 50% following the close of a $200M fundraising round
Non-fungible token (NFT) projects have been hard hit by the price decline across the cryptocurrency ecosystem and the current bearish conditions have spared few tokens from a price collapse. One project that is attempting to get back on solid footing is Immutable X (IMX), an NFT-focused layer-2 (L2) scaling solution for the Ethereum (ETH) network designed to offer near-instant transactions and zero gas fees for minting and trading. Data from Cointelegraph Markets Pro and TradingView shows that the price of IMX has climbed 69.6% since hitting a low of $1.09 on March 7 to hit a daily high of $1.86 on March 11. IMX/USDT 4-hour chart. Source: TradingView Three reasons for the reversal in IMX include the completion of a $200 million Series C funding round, the launch of new projects on the plat...
Kadena price soars by 40% after new protocol launches and a major exchange listing
In bull and bear markets, the mantra for cryptocurrency projects that are focused on long-term sustainability is “always be building.” Kadena (KDA) is one project that has earned rewards from its forward-looking approach to development despite the weakness in the wider crypto market and the layer-one proof-of-work blockchain protocol has seen its price reverse direction recently. Data from Cointelegraph Markets Pro and TradingView shows that the price of KDA spiked 40% from a low of $5.94 in the early hours on March 11 to a high of $8.28 as its 24-hour trading volume surged 784% to $325 million. KDA/USD 4-hour chart. Source: TradingView Three reasons for the recent price growth for KDA include a new listing on Binance, the launch of the first decentralized exchange on the Kadena network an...
Crypto education can bring financial empowerment to Latin Americans
In October 2021, it was estimated that approximately 15% of the world’s supply of Bitcoin (BTC) was in circulation in Latin America. According to a recent report released by Crypto Literacy, however, 99% of Brazilian and Mexican respondents failed a basic assessment on crypto literacy. Crypto adoption is well underway across the region — on the rise even — but, people still lack a basic understanding of its underlying technology and use cases. When this lack of basic crypto literacy is considered in the context of developing markets across Latin America, where the use cases for blockchain technologies hold real significance, it becomes a serious concern. Latin American populations who lack crypto literacy risk missing out on stablecoins that can offer protection against Latin America...
Finance Redefined: DeFi ‘Godfather’ Cronje quits, CAKE launches $100M venture arm and more
The decentralized finance (DeFi) ecosystem had quite an eventful week with several new developments and price action. The week started with DeFi “Godfather” Andre Cronje announcing his departure from most of his projects, leading to a massive drop in prices of projects that Cronje was associated with. CAKE DeFi launched a new $100 million venture fund to support Web3 initiatives, ThorChain spiked over 34% after activating synthetic assets and Polygon network suffered an extended outage post new upgrade that impacted its price momentum. DeFi “Godfather” Cronje quits as TVL and tokens tank for related projects DeFi architect, Fantom Foundation technical adviser and Yearn.finance founder Andre Cronje has left the decentralized finance space reeling after deactivating his Twitter account. Cron...
Haven Protocol (XHV) shows strong signs of bottoming out after crashing 90%
Haven Protocol (XHV) showed signs of returning to its bullish form as its price doubled in just five days of trading. What’s pumping Haven Protocol? XHV’s price surged by up to 107% week-to-date to climb above $3.60 on March 11, its highest level in more than three months. Interestingly, the move upside followed a period of aggressive selloffs that saw XHV’s value dropping from nearly $20 in November 2021 to as low as $1.60 in early February 2022 — an approximately 90% decline. XHV/USD weekly price chart. Source: TradingView Traders started returning to the Haven Protocol market against the prospects of two macroeconomic scenarios: U.S. President Joe Biden’s executive order that focuses on cryptocurrencies and hardline western sanctions on Russian oligarchs amid an ...
Fantom Foundation issues clarification statement about departure of Andre Cronje and Anton Nell
Recently, media outlet Rekt.news made striking accusations about Fantom Opera, a layer-1 blockchain, after the foundation’s technical adviser Andre Cronje and senior solutions architect Anton Nell announced they were leaving the crypto space entirely. Almost immediately, concerns from the community arose after Nell tweeted, “There are around ~25 apps and services that we are terminating on 03 April 2022.” In the now-deleted Rekt article, it alleged the following: “Fantom, Solidly, SpookySwap, Abracadabra, Geist: multiple projects all entwined into a system designed to extract maximum value for a small set of insiders who are now steadily exiting the stage.” However, on Friday, the Fantom Foundation published a statement regarding alleged “factual inaccuracies,” “debunked claims” ...
Price analysis 3/11: BTC, ETH, BNB, XRP, LUNA, SOL, ADA, AVAX, DOT, DOGE
Bitcoin (BTC) has been volatile in the past few days but the long-term investors seem to be using the current weakness to buy. According to Whale Alert and CryptoQuant, about 30,000 BTC left Coinbase and was deposited in an unknown wallet. It is speculated to be a genuine purchase and not an in-house transaction. Although investors may be bullish for the long term, the short-term picture remains questionable. Stack Funds said in their recent weekly research report that they “expect sideways trading and possibly a potential dip” in the short term due to the increase in inflation and the lack of clarity regarding the conflict in Ukraine. Daily cryptocurrency market performance. Source: Coin360 While Bitcoin has been volatile, gold-backed crypto assets have made a strong showing in 2022...
UK’s financial regulator orders shut down of crypto ATMs
The FCA says all crypto ATMs in the UK have been operating illegally The regulator, therefore, ordered operators of crypto-to-cash machines to halt their services or face legal consequences The FCA, UK’s financial conduct regulator, has banned the operation of crypto ATMs in the country. The financial authority stated in a Friday notice that it had asked all operators of these machines to suspend their activities or “face enforcement action.” No crypto ATM operator has received approval The order comes on the grounds that the operators have not registered with the regulator. The FCA pointed out that it has not yet given the green light to offer crypto ATM services to any of the crypto-entities that have completed registration. “Crypto ATMs offering crypto asset exch...
The bests meme-coins you can buy on March 11, 2022: DOGE, SHIB and ELON
DOGE, SHIB, and ELON are all meme-based tokens Each token is at a solid price point for buying. Every one of these tokens has the potential to increase in value. Some of the most popular meme-based cryptocurrency tokens you can buy include Dogecoin (DOGE), Shiba Inu (SHIB), and Dogelon Mars (ELON). We are going to go over each token individually as a means of showcasing which one is the right purchase for you. Should you buy Dogecoin (DOGE)? On March 11, 2022, Dogecoin (DOGE) had a value of $0.11716. The all-time high value of Dogecoin (DOGE) was on May 8, 2021, when the token reached a value of $0.731578. When we go over the performance of the token throughout the previous month, Dogecoin (DOGE) had its highest value point on February 7 at $0.1683. Its lowest value point was on February 2...
