Crypto

The early morning momentum that pushed Bitcoin (BTC) above $50,000 on Oct. 5 continued throughout the day after bulls took control of the market and bid the price of BTC up near the $51,900. Data from Cointelegraph Markets Pro and TradingView shows that after a brief period of consolidation, bulls resumed their drive higher and many analysts are watching to see if BTC price holds the $50,000 level as support. BTC/USDT 4-hour chart. Source: TradingView Since touching $40,885 on Sept. 29, BTC price has rallied 26.8% and reignited traders’ hope for a year-end close above the $100,000 mark, a level which has become the de facto price target for the end of 2021. Bitcoin to 100k is less than a 2x from current prices. Let that sink in for a bit. — Ryan Cantering Clark (@CanteringClark) Octo...

International Monetary Fund, or IMF, managing director Kristalina Georgieva said more than half of all central banks in the world are exploring how to launch digital currencies. Speaking at a virtual conference hosted by Bocconi University on Oct. 5, Georgieva said the IMF was looking at central bank digital currencies, or CBDCs, and digital currencies as a whole from the perspective of macroeconomic stability. She said the technology had given people the opportunity to make “seamless, and less costly” transfers, and called CBDCs the most reliable form of digital currency, given they had “backing of the state” and were generally regulatory compliant. “We did a survey of our membership, and it was very impressive: 110 countries are at some stage of looking into CBDCs,” said the managing dir...

North Carolina House Representative Patrick McHenry has proposed a bill which would amend one of the laws governing the Securities and Exchange Commission to provide a safe harbor for certain token projects. In a draft of the “Clarity for Digital Tokens Act of 2021” provided by the House Committee on Financial Services, McHenry suggested amending the Securities Act of 1933 to establish a safe harbor for token development teams. He proposed letting projects offer tokens without registering for up to three years, during which time teams would be given the opportunity to create a fully decentralized network. McHenry’s bill seemingly builds on an initiative from Securities and Exchange Commission, or SEC, commissioner Hester Peirce, who has called for creating a safe harbor for projects that r...

Alternative investment firm Colchis Capital has partnered with infrastructure provider Bison Trails to explore the potential utility of Provenance blockchain in enhancing real estate management services, demonstrating yet another promising use case for distributed ledger technology. Through the partnership, Bison Trails will provide the San Francisco-based Colchis Capital with node infrastructure that can be used to enhance its business operations, the companies announced on Tuesday. As a key infrastructure provider to Provenance blockchain, Bison Trails will also aid Colchis Capital in utilizing the technology to bring more efficiency and transparency to real estate investment management. The investment manager is developing its own technology stack to provide interoperability with Proven...

Bitcoin is back above $50,000 and bulls are currently attempting to secure a daily close above the oft disputed level.  The strength seen in BTC has also helped kickstart momentum in the altcoins and at the time of writing, several tokens are seeing gains in excess of 20%. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Linear (LINA), Secret (SCRT) and Presearch (PRE). LINA moves closer to launching full governance features Linear is a decentralized delta-one asset protocol that is cross-chain compatible between the Ethereum (ETH) network and the Binance Smart Chain (BSC). The network supports the creation, trading and management of liquid...

Bitcoin (BTC) is officially the best-performing asset of 2021, data now confirms. As October delivers 15% gains in five days, BTC firmly outperforms macro assets worldwide to seal year-to-date returns of just under 50%. Bitcoin hodlers up 49% year-to-date Despite Bitcoin’s wild ride throughout the year, downside has failed to grip the market, with a 60% retracement from highs in May now all but cancelled out. The largest cryptocurrency is thus at least 13% ahead of commodities for the year, figures show this week, and 17% ahead of United States micro-cap companies.  Compared to how some other investments performed, the picture is even rosier for BTC hodlers. European stocks, for example, are up just 10.3% year-to-date this week. “After the strong Q3 performance Bitcoin is now up ...

Link Global Technologies, a Bitcoin (BTC) mining company listed on the Canadian Securities Exchange, is facing major potential penalties for operating unauthorized power plants in the province of Alberta. The Alberta Utilities Commission (AUC), the province’s power utility regulator, issued Sept. 24 another enforcement submission against Link Global, with enforcement staff recommending several penalties for violations of Alberta’s legislative requirements. According to a document shared with Cointelegraph, the AUC’s enforcement staff recommended that Link Global should pay an economic disgorgement of about 2 million Canadian dollars (CAD) ($1.6 million) for financial gains from the unlawful electricity generation. The regulator is seeking over 5 million CAD ($4 million) from Link Global’s ...

Bitcoin (BTC) hit $50,000 for the first time in a month on Oct. 5 as a triumphant return to form continued. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC’s price hits one-month high Data from Cointelegraph Markets Pro and TradingView showed BTC/USD adding another 5% Tuesday to briefly return to the psychologically significant price point. The latest success of Bitcoin’s “Uptober,” bears were swept aside as resistance levels tumbled. The largest cryptocurrency had benefited from macro uncertainty, compounded by a mass social media outage impacting Facebook, Instagram and others. For Cointelegraph contributor Michaël van de Poppe, a look at previous price behavior suggested upside was the more likely conclusion for current movements, with a dip likewise limited in scop...

Sky Mavis, the studio behind the popular Axie Infinity nonfungible token (NFT) game, has announced a fresh round of funding for the company. In a statement issued on Tuesday, Sky Mavis announced that it had closed a $152-million Series B funding round. According to the announcement, notable crypto and blockchain investors such as global exchange giant FTX, venture capital fund Andreessen Horowitz (a16z) participated in the investment round. Other investors in the $152-million funding round included Accel, Paradigm, Standard Crypto, as well as Fabric Ventures and Samsung Next among other notable backers. The Axie Infinity maker said it was going to use the funds to “create economic and financial freedom for gamers,” adding: “While we’ve scaled at an astonishing rate, adding institutional in...