crypto blog
Minecraft ban ‘hypocritical’ and NFTs are inclusive: Animoca’s Yat Siu
Yat Siu, the co-founder of crypto/NFT venture fund giant Animoca Brands, labeled the recent Minecraft NFT ban as “hypocritical” and emphasized that nonfungible tokens (NFT) can be inclusive, despite arguments to the contrary. As previously reported, Minecraft developers Mojang Studios announced a ban on all NFT integrations in the game on July 20. The firm stated that NFTs were against its values, as they foster price speculation, scarcity, exclusion and potential rug pulls. Speaking with Cointelegraph, Siu expressed his frustration at Mojang Studios given the context in which NFTs were being integrated with Minecraft before the ban. Projects such as NFT Worlds were utilizing Minecraft’s open source servers to host a metaverse platform that had crypto and NFT ecosystems built around it. Th...
Bitcoin dips to $22.6K, risking further losses if it fails to hold above 200-week MA
The mood across the cryptocurrency ecosystem is noticeably brighter on July 22 after a week of gains helped traders put the events of the past two months behind them and look toward a positive future. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) has been oscillating around support at $23,000 over the past couple of days and continues to hold slightly above its 200-week moving average (MA), which has been a reliable indicator of bear market bottoms in the past. BTC/USDT 1-day chart. Source: TradingView As the debate about the market’s direction continues to rage, here are the important levels to watch heading into the weekend, according to analysts. Bitcoin needs weekly close above $22,800 The significance of Bitcoin trading abov...
Play-to-own, NFTs and Web3: Crypto Raiders drops knowledge with NFT Steez
Blockchain gaming and the play-to-earn model were all the rage in 2021, but over time, the model declined as a few kinks were revealed and the wider nonfungible token (NFT) and crypto market hit a few speed bumps. It’s safe to say, the sector is “down, but not out” and it’s entirely possible that blockchain gaming could see another 2021-style surge once the market regains its momentum. On Friday, NFT Steez, a bi-weekly Twitter Space hosted by Alyssa Exposito and Ray Salmond, met with the founders of Crypto Raiders to discuss the state of blockchain gaming, and the future of play-to-earn-based projects. According to the founders, Crypto Raiders is an NFT-based dungeon crawler and in the episode, each agreed that the current blockchain gaming landscape should focus on sustainability and “fun...
FTX proposes a way to give Voyager Digital clients some of their digital assets back early
FTX and Alameda Ventures want to offer Voyager Digital customers a chance to start a new FTX account with an opening cash balance funded by an early distribution on a portion of their bankruptcy claims, FTX announced in a statement Friday. To accomplish this, Alameda Ventures said it would like to buy all Voyager digital assets and digital asset loans, with the exception of loans to Three Arrows Capital (3AC). A letter from an FTX and Alameda Ventures legal representative explained that Voyager Digital customers who did not choose to create an FTX account would retain their rights in the bankruptcy proceedings, but would not receive early reimbursement. Accepting the offer would protect Voyager Digital clients from the depreciation of the crypto assets they currently do not have acce...
Board urges Bank of Central African States to introduce common digital currency: Report
The Bank of Central African States, or Banque des États de l’Afrique, which serves Cameroon, the Central African Republic, Chad, Equatorial Guinea, Gabon, and the Republic of the Congo, could be closer to releasing a central bank digital currency reportedly at the urging of its board. According to a Friday report from Bloomberg, the board sent an email calling for the regional bank to introduce a digital currency in an effort to modernize payment structures and promote regional financial inclusion. The Central African Republic, or CAR, passed legislation adopting Bitcoin (BTC) as legal tender in the country in April, but has not recognized a central bank digital currency, or CBDC. Nigeria’s central bank was one of the first in the region to launch a CBDC called the eNaira in October ...
Pro Bitcoin traders are uncomfortable with bullish positions
The previous $19,000 Bitcoin (BTC) support level becomes more distant after the 22.5% gain in nine days. However, little optimism has been instilled as the impact of the Three Arrows Capital (3AC), Voyager, Babel Finance and Celsius crises remain uncertain. Moreover, the contagion has claimed yet another victim after Thai crypto exchange Zipmex halted withdrawals on July 20. Bitcoin/USD 1-day price. Source: TradingView Bulls’ hopes depend on the $23,000 support strengthening as time goes by, but derivatives metrics show professional traders are still highly skeptical of continuous recovery. Macroeconomic headwinds favor scarce assets Some analysts attribute the crypto market strength to China’s lower-than-expected gross domestic product data, causing investors to expect further expan...
NFT sales will fund the restoration of physical monuments in Ukraine
The Ukrainian government will be using the proceeds of sales from an online nonfungible token, or NFT, museum to restore artwork in the real world. According to a Friday announcement and information shared with Cointelegraph, Ukraine’s Ministry of Culture and Information Policy said the government’s Meta History Museum of War platform, aimed at preserving the timeline of major events in Russia’s war with Ukraine, raised 803.28 Ether (ETH) — roughly $1.3 million at the time — through NFT sales. The ministry said proceeds from the sales will go toward “the restoration of Ukrainian cultural institutions,” many of which have been damaged or destroyed by missile attacks from Russia. “During the six months of the war in Ukraine, the Russians destroyed hundreds of our museum...
Zipmex resumes withdrawals for trade wallets
Cryptocurrency exchange Zipmex has resumed withdrawals from its trade wallet after two days, but said transfers, deposits and trade will continue to be disabled from its Z Wallet. In a Friday announcement, Zipmex said its Thailand-based users could make withdrawals from its trade wallet, with the function expected to be “re-enabled this evening” for clients in other countries. The crypto exchange has had withdrawals disabled since Wednesday, citing a “combination of circumstances” beyond its control, including the recent market volatility. “Ever since the black swan events surrounding the crypto space Zipmex has retrieved the majority of our funds and assets that were historically deposited with our deployment partners and have been actively working to resolve the situatio...
Crypto market cap climbs 15% in a week following Ethereum Merge date revelation
It has been a volatile yet positive week for cryptocurrencies, as traders ignored the warnings from crypto winter veterans that there was more downside in store and jumped back into the market at the first sign of rising prices. Evidence for the reversal in sentiment can be found in the Crypto Fear & Greed Index, which has climbed into the fear zone after spending a record time in the extreme fear territory due to collapsing prices in May and June. Crypto Fear & Greed Index. Source: Alternative As for what sparked the rally out of extreme fear, a closer look at the timeline points to the announcement of the expected date for the Ethereum Merge, which came on July 15. Data from Cointelegraph Markets Pro and TradingView shows that, following the Merge date revelation, the ...
Bitcoin traders eye levels to hold as ‘decision time’ looms for BTC price
Bitcoin (BTC) recovered above $23,000 into July 22 as attention increasingly focused on the upcoming weekly close. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price needs to preserve at least $22,400 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD finding renewed strength after briefly dipping towards $22,000. The pair traded in a critical zone for bulls on the day, with the 50-day and 200-week moving averages (MAs) still yet to flip from resistance to support. Analysts were holding out for the weekly candle close to determine the strength of Bitcoin’s latest uptrend which at one point delivered weekly gains of up to 25%. “To perform a reclaim of the 200-week MA as support, $BTC needs to Weekly Close above $22800,” popular trader and analyst Rekt Capi...
Buying crypto with credit card is now indirectly banned in Taiwan
Taiwan’s Financial Supervisory Commission (FSC), a chief financial regulator, issued a note to the banking industry, indicating that they should not grant the virtual assets providers (VASPs) the status of merchant in operations with credit card holders. That means a de-facto ban on buying crypto with a credit card on the island. As the local media reported on Thursday, July 21, The Financial Supervisory Commission sent a letter to the Association of Banks in early July, reminding the members of the Association of Banks that virtual assets are highly speculative and risky, and the cash flow is complex and challenging to monitor transactions effectively. The regulator has also specified that credit cards are essentially consumer payment tools, not investment and wealth management or p...
Blockchain and cybersecurity awareness on the rise: PolySwarm CEO
As the blockchain space becomes more extensive, cybersecurity becomes a more crucial requirement for many. Because of this, PolySwarm CEO Steve Bassi argued that there is a need to leverage blockchain for cybersecurity. Bassi told Cointelegraph that while the awareness of blockchain technology and security is on the rise, the use of blockchain within cybersecurity is still in its early days. “Awareness about cyber security and crypto, especially over the last five years, increased more than any time during my professional security career,” he said. Despite the rise in awareness, the CEO noted that cybersecurity projects are still in the middle of trying to find applications of blockchain in the space. Because of the market gaps, Bassi noted that they created a project to use blockchai...
