Crypto
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Bitcoin hits $44K after Canada emergency powers accompany 6% BTC price increase
Bitcoin (BTC) opted for fresh upside on Feb. 15 as a trip to near $40,000 saw an abrupt change of direction. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView RSI prints classic bull signal Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining swiftly overnight into Tuesday, going on to pass $44,000. A classic relative strength index (RSI) breakout, this time on the lower four-hour timeframe, preceded the move, which put the pair a full 6% higher versus Monday’s lows. #Bitcoin 4 Hour RSI broke out and MACD just had a Bullish Cross: pic.twitter.com/2bRVFeQsfX — Matthew Hyland (@MatthewHyland_) February 14, 2022 “I do think these are the first signs of a trend break,” popular Twitter account Phoenix commented in a fresh post on the day. It ...
Counterfeit NFTs result in marketplace shutdown: Experts weigh in
“Rampant” issues relating to minting counterfeit nonfungible tokens, or NFTs, have forced popular platform Cent to halt some operations. Founded in 2017, Cent kicked off as a “social network and informal platform for creative experimentation.” In 2020, the team also launched an NFT platform called Valuables to mint and auction iconic tweets. Jack Dorsey’s first tweet, “just setting up my twttr,” sold for $2.9 million on the platform in March last year. On February 6th, the platform ceased NFT trading due to “a spectrum of activity” that “shouldn’t be happening.” Cameron Hejazi, co-founder of Cent told Cointelegraph: “People in this space tend to cry ‘caveat emptor’ or ‘buyer beware’ but protecting creators from those who might steal or abuse their work —...
Belarus president signs decree to support free circulation of crypto
Belarusian President Alexander Lukashenko has signed a decree affirming the country’s formal support of free circulation of cryptocurrencies like Bitcoin (BTC). Lukashenko’s press office announced Monday that the president has signed a decree “On the register of virtual wallet addresses and the circulation of cryptocurrency.” The document provides a legal basis for Belarus Hi-Tech Park to establish and manage a register of crypto wallet addresses used in illegal activities. The decree document specifically details the process and standards for seizing cryptocurrency from criminals by the government. The decree intends to protect crypto investors from potential losses and to “prevent unintentional involvement in activities prohibited by law.” The announcement points out that Belarus has tak...
Singapore’s DBS Bank set to offer crypto services to retail customers
Singapore’s megabank DBS plans to expand crypto trading to the retail crowd CEO Piyush Gupta has highlighted that the plan is to expand into online trading and a 24/7 operational model DBS Bank was the first financial body to receive MAS approval last year Singapore’s largest lender DBS Bank has highlighted plans to expand the offering to retail investors by the end of the year. The bank is notable for being among the first financial institutions to host a crypto trading desk for institutional investors. The Bank CEO and Director of the DBS Group, Piyush Gupta, revealed during an earnings call for 2021 Q4 on Monday that it had already kickstarted the process of expanding territory. While he did not directly provide any details, he suggested that the bank had set in motion the p...
LooksRare official explains reason behind the recent cash-out
The LooksRare team on Monday confirmed it had received in excess of $30 million in rewards The report and explanation provided raised split opinions within the LooksRare community The team behind NFT marketplace LooksRare has revealed that it cashed out $30 million in ETH, much to the community’s disapproval. One member of the team elucidated that the earnings the team received have never been secret, providing details to prove so. The team member, Zodd, said that the funds were directed to more than ten team members. He explained that to keep the project afloat, the contributors worked around the clock for more than six months without any remuneration until their first WETH earnings came through. He added that the members collectively incurred up to 7 figure pre-launch costs. “...
Bitcoin may head to $45k – $47k without CME gap filling, crypto analyst suggests
Market analyst Credible Crypto has set forth that CME gap filling isn’t guaranteed The analyst also pointed out that the bottom is likely in for Hedera (HBAR) Popular crypto trader and market analyst Credible Crypto has given his views on the price movements of Bitcoin and Hedera Hashgraph. The analyst shared the forecast tweets on his page accompanied by respective analysis charts. BTC/USD Credible crypto quoted a tweet shared at the end of last week – when he anticipated Bitcoin to continue sideways trading, at the time, as it would “allow for some final pumps on many ALT/BTC pairings before $BTC drains them.” In his recent tweet, Credible Crypto argued that the flagship cryptocurrency could climb towards $47k without the CME gap and swing lows being filled. BTC/USD tra...
RBI deputy governor: banning crypto ‘most advisable choice’
T. Rabi Sankar from the Reserve Bank of India compared cryptocurrency to ponzi schemes and said that banning them, not regulating them, would be the “most advisable choice” for the Indian government. Sankar, the deputy governor for the RBI, told audiences at a keynote address on Feb. 14 that “We have also seen that cryptocurrencies are not amenable to definition as a currency, asset or commodity.” “Cryptocurrencies are not currencies, or financial assets or real assets or even digital assets. Therefore, it cannot be regulated by any financial sector regulator. It is not possible to regulate something that one cannot define.” Sankar feels that regulating crypto would ultimately be condoning its use as a store of value and even a currency in some cases. Merely regulating it could...
Chingari integrates native token to advance Web3 social networking
Indian social networking platform Chingari has announced ambitions to revolutionize the experience of its 100 million-user creator economy through the integration of native digital asset, $GARI, and accompanying cryptocurrency wallet via the Solana blockchain. Translating into the word ‘Spark’ in the languages of Urdu and Hindi — a branding visibly consistent with its flame icon — the Chingari user interface often draws parallels to popular Western entertainment services TikTok, Instagram Reels and YouTube Shorts, for its principal focus on short-timed, infinitely accessible video content. Launched in 2018, the platform has grown exponentially over the past few years, amassing over 35 million monthly active users to become the most popular mobile application in the country on the Google Pl...
Canada invokes ‘Emergencies Act’ targeting crowdfunding and crypto
Canadian Prime Minister Justin Trudeau has invoked the Emergencies Act, which gives him the power to freeze Freedom Convoy protesters’ bank accounts and monitor “large and suspicious transactions,” including crypto. Deputy Prime Minister Chrystia Freeland said in a press conference on Feb. 14 that this latest tactical maneuver against the protesters broadens the scope of Terrorist Financing rules. It targets “crowdfunding platforms and the payment service providers they use.” “These changes cover all forms of transactions including digital assets such as cryptocurrencies.” Together, protesters had amassed over $19 million in funds through the fundraising platforms GoFundMe and GiveSendGo. However, those funds have been blocked from reaching the convoy, leading some to organize a fundraisin...
Overwhelming support for Grayscale BTC Trust ETF conversion proposal
The U.S. Securities and Exchange Commission has allowed comments and feedback on a proposed rule change that would convert Grayscale’s Bitcoin Trust to a spot-based exchange-traded fund (ETF). A notice of filing a proposed rule change to list and trade shares of Grayscale Bitcoin Trust as a spot-based ETF has generated a long list of comments with a large majority in approval. Bloomberg’s senior ETF analyst Eric Balchunas had a look through some of the more recent comments on Feb. 15 observing that 95% are in favor of the proposed conversion. Just glancing through the many comments from ppl to the SEC re converting $GBTC to an ETF and 95% are in favor of it and most using real names and pointing to the stupefying fact that futures ETF ok but spot not. eg: pic.twitter.com/j15iNYnh8R — Eric ...
Best cheap tokens to buy in February
Getting into the cryptocurrency industry might seem extremely expensive in the eyes of people who are starting with their investments or purchases for the very first time, but this couldn’t be further from the truth. While some platforms will even allow you to buy a fraction of a Bitcoin (BTC), which is worth well over $40,000, and will essentially allow you to buy $50 or $100 worth of BTC, a lot of users might prefer owning the entirety of a token, or a coin. This is where altcoins come into the picture, cryptocurrencies which are alternatives to Bitcoin. Some of these have an extremely affordable entry point and are cheap to buy by just about anyone. Most of the time, these cryptocurrencies tend to be used online for transacting more than the expensive tokens due to the fact that t...
Are we misguided about Bitcoin mining’s environmental impacts? Slush Pool’s CMO Kristian Csepcsar explains
It’s a controversial topic in the blockchain community that comes up from time to time — just how much impact Bitcoin (BTC) mining has on the environment. Last year, Tesla’s CEO Elon Musk brought forth a sharp correction in the cryptocurrency market by tweeting that Tesla would abandon plans to accept BTC, citing “rapidly increasing use of fossil fuels for Bitcoin mining and transactions.” However, a recent report published by CoinShares notes that despite the widespread use of coal, oil and gas for Bitcoin mining, the network accounts for less than 0.08% of the world’s CO2 production. During an exclusive interview with Cointelegraph, Kristian Csepcsar, chief marketing officer at Slush Pool, the oldest Bitcoin mining pool, gave insight on what he believes are ...
