crypto blog
3 metrics contrarian crypto investors use to know when to buy Bitcoin
Buying low and selling high is easier said than done, especially when emotion and volatile markets are thrown into the mix. Historically speaking, the best deals are to be found when there is “blood on the streets,” but the danger of catching a falling knife usually keeps most investors planted on the sidelines. The month of May has been especially challenging for crypto holders because Bitcoin (BTC) dropped to a low of $26,782, and some analysts are now predicting a sub-$20,000 BTC price in the near future. It’s times like these when fear is running rampant that the contrarian investor looks to establish positions in promising assets before the broader market comes to its senses. Here’s a look at several indicators that contrarian-minded investors can use to spot opportune moments for ope...
The increasingly acute need for crypto-native insurance
The insurance industry has a long history of providing vital support for major leaps in innovation. It’s no coincidence that the modern insurance industry and the industrial revolution arose in parallel. Indeed, it has been convincingly argued that the invention of fire and property insurance — in response to the Great Fire of London — lubricated the gears of capital investment that powered the industrial revolution and is likely the reason why it started in London. Through that first and each subsequent technological revolution, insurance has offered innovators and investors a safety net and served as an outside, objective validator of risk — thereby acting as a source of both the encouragement and the security needed to confidently test and break barriers. Today, we are in the midst of a...
Crypto Biz: Smart Money is betting big on Web3, layer 2, May 19-25
Billions and billions. That’s what venture capitalists are spending to get ahead of the curve in crypto. Their latest fixation is Ethereum layer-2 scaling solutions and Web3, an umbrella term that describes the next stage of the internet’s evolution. So, while the cryptocurrency market is in a state of extreme fear, smart money investors — TradFi folks who invest with expert knowledge — continue to pour countless sums into the space. This week’s Crypto Biz newsletter gives you the latest funding stories from the world of blockchain and explores interesting developments surrounding Google and Sam Bankman-Fried. Andreessen Horowitz closes $4.5 billion crypto fund amid market turmoil The crypto market selloff of 2022 hasn’t deterred Andreessen Horowitz from pledging additional billions ...
WEMIX gains 200%+ after stablecoin and boosted staking rewards announcement
Blockchain-based gaming, also known as GameFi, is an up-and-coming sector that could potentially be one of the primary catalysts for kickstarting the mass adoption of blockchain technology. WEMIX, a gaming protocol that operates on the Klaytn network, aims to get in on the GameFi revolution and this week, the project’s native token (WEMIX) rallied even as the wider market continued to sell-off. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $1.27 on May 12, WEMIX price climbed 269% to hit a daily high at $4.70 on May 25 as its 24-hour trading volume increased to $652 million. WEMIX/USDT 1-day chart. Source: TradingView Three reasons for the price reversal for WEMIX are the upcoming launch of WEMIX 3.0, a series of project launches and partnershi...
Falling Bitcoin price doesn’t affect El Salvador’s strategy: ‘Now it’s time to buy more,’ reveals Deputy Dania Gonzalez
Dania Gonzalez, Deputy of the Republic of El Salvador, was recently in Brazil to reveal her country’s experiences with the decision to adopt Bitcoin (BTC) as legal tender. Gonzalez’s invitation to Brazil came from digital influencer Rodrix Digital, who was recently in El Salvador to produce a documentary about cryptocurrencies. Among the lawmaker’s activities in Brazil was attending Bitconf 2022, as well as meeting with Dape Capital CEO Daniele Abdo Philippi and Ana Élle, CEO of Agency ROE. Between her agendas, Gonzalez spoke with Cointelegraph and revealed how Bitcoin has helped to change people’s lives in El Salvador and how the federal government, led by President Nayib Bukele, has been taking advantage of the resources invested in BTC to improve the economy. El Salvador jus...
One River’s spot Bitcoin ETF application rejected by SEC
The United States Securities and Exchange Commission (SEC) maintained its perfect record for rejecting Bitcoin (BTC) spot exchange-traded fund (ETF) applications Friday when it disapproved a rule change to allow cryptocurrency-focused hedge fund One River Digital to offer the One River Carbon Neutral Bitcoin Trust on the New York Stock Exchange Arca. The decision comes somewhat ahead of schedule, as the agency had extended the original deadline to June 2 to allow more time for consideration. The commission wrote that, when considering One River’s proposed rule change, it applied “the same standard used in its orders considering previous proposals to list bitcoin-based commodity trusts.” Specifically, the proposed rule change did not meet the SEC’s rules around fraud...
A beginner’s guide: 3 questions to ask yourself before buying crypto
Are you still unfamiliar with cryptocurrency, and has your curiosity finally caught up with you? The world of crypto is vast and full of terms and practices that might prove a challenge to any beginner in the growing industry that’s crypto investing. But while that can be the case, it does not mean that it is impossible to dive in – or go on to succeed at it. If you’re willing to do the extensive research needed to invest responsibly and ask yourself some important questions, you are good to go. This brief guide provides three key questions that you need to answer before you embark on your investment adventure. Are you willing to risk financial losses? One of the most important things to know about crypto is that they’re an extremely volatile investment. In a matter of days, an otherwise p...
JPMorgan picks out crypto as the preferred alternative asset
JPMorgan analysts chose Bitcoin over real estate, adding that the former’s fair value is 30% above current prices They also observed that VC funding should turn the current bear market and prevent a crypto winter akin to 2018/2019 JPMorgan analysts led by Nikolaos Panigirtzoglou have opined on the current crypto market, finding that the fair price of the world’s leading digital asset, Bitcoin, is 30% higher than current prices. The bank’s analysts said that there’s significant potential that Bitcoin could rise to $38,000 and carry other crypto tokens along with it, despite recent market capitulation. “The past month’s crypto market correction looks more like capitulation relative to last January/February, and going forward, we see upside for Bitcoin and crypto markets more generally,...
MasterCard executive insists crypto adoption will grow, but challenges must be addressed
MasterCard VP Harold Bossé is bullish that crypto adoption will come to build on the millions who are already on board However, issues including cost, speed, and regulatory concerns must be addressed first to pull in the big players MasterCard’s vice president of product and innovation, digital asset and blockchain, Harold Bossé, has predicted that crypto adoption will grow into the future, but key challenges must be handled first. During a recent appearance at an Avalanche webinar – Powering Business with Blockchain, Bossé seemed unfazed by recent changes that have seen crypto markets plunge to the lowest levels all year. The MasterCard VP holds a confident stance that investors, executives and other participants in crypto are looking forwards to better days. Further, Bossé noted th...
The best Ethereum killers you should have in your crypto wallet
Avalanche (AVAX), Solana (SOL), and Cardano (ADA) are some of the best Ethereum (ETH) killers that you can get on May 27. SOL’s trading volume increased by 68%, while ADA’s saw an increase of 55%. Each of these tokens has undergone numerous updates and will likely increase in value moving forward. Avalanche (AVAX), Solana (SOL), and Cardano (ADA) are some of the most popular Ethereum (ETH) killers that you need to be aware of. On May 24, Sad Cat Capital posted an update regarding the launch of Avalanche subnets, where they took a look at why games are launching on that specific subnet, which will lead to the growth of the ecosystem. Brave also launched support for Solana on May 24, which allowed users to buy, store and sell SOL in the Brave Wallet. The Cardano Foundation is also makin...
Terra to burn 1B UST from the community pool as holders vote for it
In another attempt to support the revival of Terra (LUNA), the community voted to burn a large amount of UST from its community pool. Earlier in May, Terra founder Do Kwon explained that a potential solution to the Terra debacle is to absorb the stablecoin supply. In response to this, users proposed the burning of the 1 billion TerraUSD (UST) that was stored in Terra’s community pool and the remaining cross-chain UST that’s deployed on the Ethereum blockchain as incentives. According to the proposal, the burn will help “reduce the outstanding bad debt of the Terra economy.” Apart from this, it’s also expected to play a significant part in restoring the UST dollar peg by eliminating a big chunk of excess supply. The proposal was submitted on May 12 and was expected to be finalized aft...
Hacker tastes own medicine as community gets back stolen NFTs
The tales of traders getting scammed out of their nonfungible tokens (NFTs) were quite common at the peak of the NFT boom. However, in an interesting turn of events, the Solana community came together to “scam” a scammer in order to get back some stolen NFTs. It all started with the Discord channel hack of cross-chain gaming development studio Uncharted NFT, where scammers managed to drain out 109 user wallets. The scammers got away with 150+ SOL tokens and 25 World of Solana (WOS) NFTs, including three rare and highly valuable digital collectibles. 2/It all began when @UnchainedNFT_ Discord got hacked two days ago. A hacker drained the wallet of 109 users for a total of 150+ $SOL. The most affected person was a WOS whale with 25 WOS NFTs that got stolen. This whale also owned 3 top ...
