crypto blog
Neo users explain why they’ve held on to the project despite China’s heavy crypto crackdown
It’s been a wild ride for Neo investors in the past few years, especially as China began to incrementally introduce harsher crypto regulations applicable to the project, which has been dubbed by some as “Ethereum of China.” But despite the odds, the community appears to be resilient, with a dedicated society of developers worldwide and bourgeoning decentralized finance, or DeFi, hub that came into prominence via the launch of the Neo N3 mainnet last year. As told by Neo investors Lucas and Jiří, who spoke to Cointelegraph, they were not expecting such a “huge drop in price” for Neo. Nevertheless, they decided to hold their Neo tokens through all the price turmoil, citing the project developers’ dedication to its underlying technology. Luc...
Price analysis 2/28: BTC, ETH, BNB, XRP, ADA, SOL, AVAX, LUNA, DOGE, DOT
Bitcoin (BTC) soared above $40,000 on Feb. 28 even though the S&P 500 remained soft. This suggests that the correlation between Bitcoin and the U.S. equity markets may be showing the first signs of decoupling. If bulls sustain the price above $38,500 till the end of the day, Bitcoin would avoid four successive months of decline. The volatility of the past few days does not seem to have shaken the resolve of the long-term investors planning to stick with their positions. Data from on-chain analytics firm Glassnode showed that the amount of Bitcoin supply that last moved between three to five years ago soared to more than 2.8 million Bitcoin, which is a four year high. Daily cryptocurrency market performance. Source: Coin360 Interestingly, an experiment by Portuguese software developer T...
South Korea readies itself for a blockchain future by launching a $186M metaverse project
The government wants to boost the growth of its metaverse ecosystem, with ambitions that it could host businesses in the future Last month, South Korea launched a five-year strategic plan to become the global metaverse leader The government of South Korea is taking significant strides towards evolving into a metaverse future. Yesterday, the nation’s Ministry of ICT, Science, and Future Planning guaranteed a KRW 223.7 billion ($186 million) investment into advancing the country’s metaverse ecosystem. According to an official statement sent out by the ministry, the endgame for this investment is to achieve an all-inclusive metaverse ecosystem, dubbed the ‘Expanded Virtual World.’ It would enable the virtual expansion of cities, education initiatives, and the media. The ministry will channel ...
USDT records new all-time high against Russian ruble as inflation hits
United States dollar-pegged stablecoin Tether (USDT) witnessed a spike of over 30% in five days against the Russian ruble — highlighting the negative and immediate impact of the ongoing war on the traditional financial system. Data from Cointelegraph Markets Pro and crypto exchange Binance show that the ruble is undergoing inflation as the USDT/RUB trading pair — for the first time in history — crossed 105 rubles. USDT/RUB price performance. Source: TradingView Prior to the spike, the USDT/RUB pair maintained a comparatively steady market price below 80 rubles. However, the ruble’s market price against USDT surged on Thursday, momentarily exceeding 90 rubles. As tensions escalated, on Sunday, the European Commission announced plans to remove Russian banks from the Society for Worldwid...
Bitcoin network’s carbon emission jumped 17% after China ban: Report
Bitcoin network’s proof-of-work mining consensus has been a topic of environmental, social and governance debates for a long time, and a new study may only add to the growing controversy around Bitcoin’s carbon footprint. A new research report titled “Revisiting Bitcoin’s carbon footprint” published in the peer-reviewed scientific journal Joules has highlighted that the Chinese crypto mining ban might not have contributed to the reduction in the carbon footprint of the Bitcoin network as propagated by many Bitcoiners; on the contrary, it has increased by 17%. China was the primary hub for Bitcoin miners before May 2021 and accounted for more than 60% of the total Bitcoin network hash rate. However, the blanket ban imposed by the government led to the migration of most of the mining fa...
How to trade crypto using BTC dominance?
Bitcoin (BTC) is both the first and the most prominent cryptocurrency in the world when it comes to market capitalization as well as trading volume. These factors are quite significant, considering that all cryptocurrencies trade against Bitcoin and Bitcoin’s dominance can actually serve as a valuable indicator when trading all different types of cryptocurrencies. This post will offer insight on how to trade cryptocurrency while utilizing the Bitcoin dominance indicator and how to read the Bitcoin dominance index chart overall. What is the BTC dominance chart? Bitcoin dominance is uncovered by comparing Bitcoin’s market capitalization to the capitalization of the entire crypto market. The higher Bitcoin’s market capitalization the more Bitcoin dominance is at play, and we have the answer t...
One man’s plan to orange pill a nation: Bitcoin Senegal
Nourou is a 29 year old Bitcoiner with a vision for his home country. A former financial analyst for a French Bank, he founded Bitcoin Senegal in late 2021. Following an eight-year stint in France, during which Nourou earned his Masters degree, Bitcoin Chaincode qualifications, and a deep understanding of legacy financial markets thanks to work in investment finance, he was primed to orange-pill Senegal. He returned to his home country disheartened to learn that Coinmap (a website showing Bitcoin vendors and merchants around the world), had zero locations in Senegal. That’s despite singer and influencer Akon’s plans to set up a crypto-style Akon City. Passionate about Bitcoin and equipped with the knowledge that a “Bitcoin Beach” idea in El Salvador eventually lead to the first country to ...
Binance’s $10M donation adds to the growing support funds for Ukraine
The Binance Charity Foundation has also set up a crypto-priority emergency relief fund The Ukraine Emergency Relief Fund is nearing $6 million in donations. According to an announcement posted by Binance chief executive Changpeng Zhao, the world’s largest crypto exchange by transaction volume has donated $10 million to help in the crisis resulting from the ongoing Russian military action in Ukraine. The exchange’s non-profit charitable arm has also started a crowdfunding initiative and lobbied for crypto donations which will be used to help allay the situation in the country. “#Binance is donating $10M to help the humanitarian crisis in Ukraine & @BinanceBCF launched the crypto-first crowdfunding Ukraine Emergency Relief Fund. Our focus is providing on-the-ground supp...
Finance Redefined: 1Password partners with Phantom, and Stark deploys nine DApps, Feb. 18–25
Welcome to the latest edition of Cointelegraph’s decentralized finance newsletter. In the aftermath of concerning political situations this week, the markets reacted strongly to the downside, but some assets attempted a recovery to end the week positively. 1Password collaborates with Phantom Wallet on API service Digital security platform 1Password announced a joint partnership with Phantom Wallet this week to grant asset holders the ability to consolidate their lists of public key addresses, seed phrases and other corresponding security details into a single “Save in 1Password” system. Operating primarily in the traditional financial sector at this time, 1Password has over 100,000 corporate clients from a panoply of industries, including well-recognized brands such as IBM, Slack, Shopify ...
Are NFTs coming soon to your favorite video games?
In 1996, when the Nintendo 64 was first launched in the United States, it sold 1.6 million units (worth $200 each) in its first quarter. Its closest competitor for the holiday season was a $30 Tickle Me Elmo doll, which sold around a million units in the same window. More than 20 years later, when Nintendo’s $300 Switch sold 1.5 million units in its first week, there was a lot more competition, and not just for the holiday season. The business of gaming has changed dramatically since its early days. From basic monetization through the sale of physical and digital copies of games to in-game monetization through microtransactions, the widespread adoption of the internet has caused a pronounced shift in the gaming landscape. While the previous millennium’s video game studios depended on reven...
Price analysis 2/25: BTC, ETH, BNB, XRP, ADA, SOL, AVAX, LUNA, DOGE, DOT
The U.S. equity markets and Bitcoin (BTC) have rebounded sharply from their Feb. 24 lows while gold has made a retreat from its recent highs. This indicates that investors may be buying risky assets and reducing exposure to assets perceived as a safe haven. Recent reports also suggest that Russian President Vladimir Putin may send a delegation to negotiate with Ukraine and this raises hope that the conflict could end sooner than analysts expect. Some analysts believe that the U.S. Federal Reserve may not raise rates aggressively in March due to the geopolitical situation. Allianz chief economic advisor Mohamed El-Erian believes that the March 50 basis point rate hike is “completely off the table.” Daily cryptocurrency market performance. Source: Coin360 Dr. Raullen Chai, the co-f...
Bitcoin fails to beat resistance as $40K stays out of reach into weekly close
Bitcoin (BTC) faced down $40,000 on Feb. 27 as hopes for the weekly close hinged on avoiding a fourth red monthly candle in a row. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Tensions mount for TradFi markets open Data from Cointelegraph Markets Pro and TradingView showed BTC/USD making several attempts to break out of the $30,000-$40,000 corridor Sunday, all of which ended in rejection. The pair had stayed broadly higher throughout the weekend, cutting traders some slack after a week of volatility at the hands of geopolitics and media headlines. Now, $38,500 was the level to watch for Bitcoin to close out the week and the month — failure to do so would mean a fourth straight monthly red candle. #Bitcoin has less than 36 hours to close above $38.5k in order to break th...
