Crypto
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Bitcoin slides under $39K, leading some traders to forecast a weekend ‘oversold bounce’
March 4 saw another day of seesaw price action for Bitcoin (BTC) and the wider cryptocurrency market as the global economic fallout from the ongoing conflict in Ukraine weighs heavily on a majority of the world’s financial markets. Data from Cointelegraph Markets Pro and TradingView shows that after holding $41,000 in the early trading hours on March 4, a wave of selling in the afternoon dropped the price of BTC below $39,100. BTC/USDT 1-day chart. Source: TradingView Here’s a look at what several analysts have to say about the outlook for BTC moving forward as the world faces a period of increased economic uncertainty. A potential retest of $38,000 BTC/USD 1-week chart. Source: Twitter According to Rekt Capital, $43,100 is an important level for BTC because the last time Bitcoin clo...
The best is yet to come: What’s next for blockchain and the creator economy
After two years and many COVID-19 restrictions finally subsiding, the world is welcoming the return of in-person theater, movies, comedy, music and sports. This has left some wondering what will happen to the legions of digital creatives who occupied and entertained us while normal life was at a standstill — and to the multibillion-dollar economy they inhabit. Will the world forget the platforms and artists they discovered during the pandemic now the doors of festivals, fashion shows and concerts are open to them again? Is the creator economy, which recent estimates suggest will exceed $100 billion this year, strong enough to withstand a stampede back to real-life experiences? I strongly believe it is. Government-imposed restrictions may have accelerated the pace of change, but the transfo...
Manchester soccer rivalries commence in field of Web3
Leading English soccer club Manchester City has announced an inaugural partnership with cryptocurrency exchange OKX across both its men’s and women’s teams, as well as the club’s emerging esports ventures. According to the club’s press release, the collaboration will focus on “exclusive experiences for OKX’s global customer base, in addition to an in-stadium presence across the Etihad Stadium and Academy Stadium.” OKX, which rebranded from OKEx earlier this year, is the second-largest spot exchange in the industry, reportedly having reportedly over 20 million customers and facilitating over $4.3 billion in normalized trading volume over the past 24 hours. This total places it ahead of Coinbase, which is in third at approximately $3.3 billion, but a ways behind Binance’s dominance...
Bitcoin declines with US stocks as nuclear threat ripples through markets
Bitcoin (BTC) bulls saw no relief at the Wall Street open on March 4 as the $40,000 support appeared on the horizon. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader: Markets “shaky,” but BTC could bounce Data from Cointelegraph Markets Pro and TradingView revealed new March lows of $40,551 for BTC/USD on Bitstamp, taking two-day losses to 10.2%. Fears over the security of Ukraine’s nuclear infrastructure drove not just crypto but traditional markets lower on the day, with the S&P 500 following European indexes to decline by 1.4%. “Bitcoin correcting as tensions around Ukraine are increasing, and fear is increasing too as Gold is rushing upwards,” Cointelegraph contributor Michaël van de Poppe explained in his latest Twitter update. “Might be seeing a b...
Finance Redefined: Uniswap builds token-swap feature for Ukraine, LUNA surpasses Ether, and more
The crypto community has emerged as one of the leading aid providers for Ukrainians, as crypto donations surged over $50 million. This week, many in the decentralized finance, or DeFi, community have come forward to donate and make it simpler for other people to donate to Ukraine. LUNA continued its price dominance with another double-digit surge over the past week and also flipped Ether to become the most staked altcoin. 1Inch launched a new secure peer-to-peer, or P2P, swap that the firm claimed could open the gates to several new use cases. Uniswap builds an interface to swap altcoins into ETH donations for Ukraine On Tuesday, decentralized exchange, or DEX, Uniswap launched an interface which directly converts ERC-20 tokens into Ether (ETH) and sends them to the official crypto w...
Russian national will use sales of her burning passport NFT to support Ukraine
Olive Allen, a Russian national and artist who has lived in the United States for more than 11 years, has burned her mother country’s passport in the hopes of raising awareness and funds related to the military conflict in Ukraine. Speaking to Cointelegraph on Friday, Allen described herself as “a child of new Russia” and said the country would always be a part of her identity, but she had chosen to cut ties with it based on its recent actions in the Ukraine. Standing in front of the Consulate General of the Russian Federation in New York City, Allen burned her Russian passport — which she said was the only copy she had — and planned to auction the video as a nonfungible token (NFT), with the proceeds going to humanitarian efforts in Ukraine. “I do not consider Putin’s Russia my home...
City-building startup Praxis secures $15M in Series A Funding
Peter Thiel-backed city-building startup Praxis has raised $15 million in Series A funding from a variety of crypto venture firms led by Paradigm Capital, Sam Bankman-Fried‘s Alameda Research and Three Arrows Capital. Dryden Brown of New York University and Charlie Callinan of Boston College co-founded Praxis, formerly Bluebook Cities, in 2019. they described their goal as: “building the city-crypto state to realize a more vital future,” according to the company website. Praxis wants to pivot away from “artificially scarce metaverses” to build a city-state that is organized around “shared values,” rather than the “labor market principles of the Industrial Age.” The cryptocurrency-run city will reportedly focus heavily on functional architecture and environmental technology. Money made from...
The Sandbox Metaverse hits 2M users, begins K-Pop partnership
The Sandbox metaverse game owned by NFT investment giant Animoca Brands has surpassed 2 million registered users amid its play-to-earn season 2 alpha launch. The crypto game backed by NFTs and its native SAND token has been in the works for roughly four years, and the latest preview into the game comes just a couple of months after its long-awaited season 1 alpha launch in late November. Season 2 officially went live earlier today and any user is able to freely explore 35 different virtual experiences including a sneak peek of the “Snoopverse” in partnership with popular rapper and new-found NFT proponent Snoop Dogg. There are 200 quests that players can complete to earn a chance of getting an Alpha Pass NFT, which will reward the owners up to 1,000 SAND worth roughly $3,000 at current pri...
Bitcoin returns to test $40K as macro factors pile up to squash BTC bulls
Bitcoin (BTC) bended to new macro pressures on March 4 after bulls failed to hold $42,000 for long. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Europe stocks sink on Friday open Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching lows of $40,800 on Bitstamp Friday after a major options expiry event. Overnight performance, initially showing a recovery, had been stymied by worries over a nuclear power plant fire in Ukraine. Stocks futures fell on the news, the severity of which was subsequently questioned. In Germany, the DAX index hit a one-year low on the daily open, with the S&P 500 yet to commence trading. “From recent high, index has lost 17%, way more than S&P 500,” markets commentator Holger Zschaepitz noted. “Investors are turning ...
Bitcoin mining difficulty drops for the first time this year
For the first time since November 2021, the Bitcoin (BTC) mining difficulty adjustment has dropped, correcting 1.49%. The move follows a succession of six consecutive positive difficulty adjustments, in which the mining difficulty and hash rate hit all-time highs. The average hash rate over the past two weeks fell to 197.19 exahashes per second (EH/s), making the average block time exceed the 10-minute target at 10 minutes 9 seconds. As a result of the difficulty adjustment, miners competing to solve the next valid block found it marginally easier. Bitcoin mining difficulty marginally dropping after an 8 month climb. Source: Glassnode The difficulty adjustment is one of the Bitcoin protocol’s most prominent features. Every two weeks or 2,016 confirmed blocks, the difficulty for mining a ne...
Bitcoin and Ether prices dip as crypto market turns red ahead of the weekend
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Top 25 Most Influential Women In Crypto
Soon it will be International Women’s Day. A good time to reflect on how their representation in the crypto world and fintech is doing. Spoiler: we’re not quite there yet. One detail that often immediately stands out in the crypto world is the fact that it consists almost exclusively of men. It’s a hard truth, but cryptocurrency is and remains a man’s world in 2022. Does this mean there are no women in the cryptocurrency industry? CoinText set out to find the top 25 most influential women in the industry. 1. Cathie Wood Cathie Wood is best known as the Chief Executive & Investment Officer at the American investment house Ark Invest. As an ETF manager, Wood is jointly responsible for buying and selling shares within the ETFs of Ark Invest. She leads the development of ARK’s philosophy a...
