crypto blog
Winter is coming! Here are 5 ways to survive a crypto bear market
The cryptocurrency market has an interesting way of catching even the most seasoned veterans off guard as each bull and bear market initially shows similarities to previous cycles only to veer off in an unexpected direction and wipe out the fortunes of newly minted crypto millionaires. This was the case with the weak close of 2021 which completely went against the bullish $100,000 BTC price estimates that crypto analysts and influencers were peddling nonstop. Currently, Bitcoin price is more than 50% away from its $69,000 all-time high and altcoins have fared worse, with many down more than 60% in the last 2 months. In times like these, traders need to regroup and re-evaluate their investment strategy, rather than just buying every price dip. Here are five strategies traders can use ...
SEC again delays decision on Grayscale’s Bitcoin ETF
The United States Securities and Exchange Commission (SEC) has once again delayed its ruling on whether to approve Grayscale’s application for a Bitcoin (BTC) exchange-traded fund (ETF), citing familiar concerns around manipulation, liquidity and transparency. In a notice published Friday afternoon, the SEC expressed concerns about how the digital asset manager intends to convert its Grayscale Bitcoin Trust (GBTC) into a spot ETF. Namely, the regulator wasn’t convinced that Grayscale’s proposal was designed to prevent alleged fraud and manipulation in the Bitcoin market. The SEC has invited the public to comment on these issues, giving interested parties 21 days to respond in writing. The SEC has just delayed their decision on whether GBTC can convert to a bitcoin ETF. — Pomp (@APomp...
FTX exchange acquires Liquid and absorbs its subsidiary Quoine
The acquisition deal is yet to receive the green light from the financial markets regulator and shareholders Japan-based FTX users will be moved to Quoine after the completion of the deal Following a successful $400 million Series C funding round at the end of last month, FTX has moved to acquire Liquid – a Japan-based crypto exchange firm. The Bahamas-based exchange, led by Sam Bankman-Fried, is looking to seal the acquisition deal for Liquid by March. Neither party revealed the deal’s specifics, including the financial sum involved. This is not the first time that Liquid and FTX have crossed paths. Last year in August, the former suffered a hack that saw it lose up to $90 million worth of funds in almost 70 various crypto assets. Following the hack, FTX financed the exchange, offer...
Why ENJ, RNDR and MANA are the best Metaverse tokens you can get on February 4, 2022
ENJ’s value saw an increase of 3.6% in the last 24 hours. RNDR’s market cap increased by 10% in the last 24 hours. MANA’s value saw an increase of 4% in the last 24 hours. Enjin Coin (ENJ), Render Token (RNDR), and Decentraland (MANA) are all metaverse-related cryptocurrency tokens. Each of them showcases solid progress in terms of growth and has the potential to reach new heights. Should you buy Enjin Coin (ENJ)? On February 4, 2022, Enjin Coin (ENJ) had a value of $1.71. The all-time high value of Enjin Coin (ENJ) was on November 25, 2021, when the token reached a value of $4.82. This means that at its ATH, the token was $3.11 higher in value or by 181%. When we go over last month’s performance, Enjin Coin (ENJ) saw its highest point of value on January 3, with a value of $2.94. Its lowe...
Dogecoin set to adopt a unique Proof of Stake model with Vitalik Buterin’s help
The Proof-of-Work (PoW) blockchain consensus mechanism has come under heavy criticism in recent days owing to its energy-intensive nature Though many are in favour of Dogecoin switching to Proof-of-Stake (PoS) mechanism, the Ethereum community feels that Buterin is becoming too involved with Dogecoin The recent European Securities and Markets Authority’s (ESMA) proposal to outlaw Proof of Work-based mining in Europe is only but one of the many calls to bin the mechanism. For a while now, several individuals and institutions in the crypto sector have censured cryptocurrencies using PoW because of the mechanism’s high energy consumption. Dogecoin is ditching PoW Dogecoin, one of the networks currently using PoW, is the latest name to reveal plans to transition to PoS. The Dogecoi...
Blockchain startups grow as global VC funding generated $25.2B in 2021
Last year was impressive for blockchain startups, as research from CB Insights found that venture capital funding reached new heights during every quarter of 2021. According to CB Insights’ “State Of Blockchain 2021” report, $25.2 billion worth of venture capital funding went to global blockchain startups last year, demonstrating a 713% increase from $3.1 billion in 2020. The report also found that the United States led the greatest amount of funding deals in Q4 of last year, generating $6.26 billion for 157 deals. The document notes that global growth was driven by increasing consumer and institutional demand for crypto-related products and services. VC funding focused on crypto adoption Chris Bendtsen, a senior analyst at CB Insights, told Cointelegraph that CB Insights’ report con...
Bitcoin surges toward $39K as stocks volatility keeps Wall Street on edge
Bitcoin (BTC) kept investors guessing with tech stocks as Wall Street opened on Feb. 4, circling $38,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Stocks continue volatility Data from Cointelegraph Markets Pro and TradingView followed a ranging overnight period for BTC/USD, bulls hoping for clearer validation of recent gains. After 15% daily gains the day before, Amazon (AMZN) continued its uptrend on Feb. 4, jumping 10% at the open, while embattled Meta (FB) dipped further. In what has become an increasing focus of attention among analysts, curiously volatile tech stocks thus showed few signs of steadying at the opening bell. Bitcoin, after losing $800 in the hour beforehand, thus recouped all of those losses and more, underscoring its positive stocks correlation. ...
Majority of US consumers say no to Meta owning metaverse data: Survey
A survey of 1,000 United States consumers around growing interest in the metaverse has revealed some interesting results. In a survey commissioned by nonfungible token and metaverse infrastructure provider Advokate Group, 87% of respondents preferred a decentralized metaverse on a blockchain over some of the mega projects planned by tech giants. This became more evident when 77% of the respondents shared concerns over Facebook’s entry into the metaverse, especially since it owns users’ metaverse data. Facebook’s tainted past with mismanagement of private user data has already dismantled its early plans of launching a stablecoin called Diem. The stablecoin project faced heavy scrutiny from the U.S. Congress, and the project eventually came to a crashing end. A similar concern ha...
Bitcoin returns to $40K, liquidating over $50M of shorts in hours
Bitcoin (BTC) returned to $40,000 for the first time in two weeks during Feb. 4 as Wall Street volatility proved a boon for BTC bulls. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Liquidations mount for BTC shorts Data from Cointelegraph Markets Pro and TradingView showed BTC/USD suddenly jumping past the $40,000 on Feb. 4, just two hours after the Wall Street open produced rapid gains. At the time of writing, the pair was up $3,000 in two hours — an unexpectedly strong performance, which naturally caused short sellers significant pain. According to on-chain monitoring resource Coinglass, BTC liquidations were $50 million over the most recent four-hour period, with cross-crypto liquidations passing $100 million. BTC liquidations chart. Source: Coinglass Analysts, who we...
Wormhole’s recent exploit exposed the vulnerabilities in cross-chain bridges
An attack on the Wormhole Token Bridge left it short of 120,000 wETH. Wormhole’s parent company has since restored the stolen tokens. On Wednesday, smart contract bridge platform Wormhole was targeted by an exploit through which an attacker minted and made away with 120,000 wETH tokens. After confirming on Thursday morning that the vulnerabilities had been remedied, Wormhole said later in the day that the more than $320 million worth of wETH lost to the exploit had been recovered. “All funds have been restored and Wormhole is back up. We’re deeply grateful for your support and thank you for your patience,” a tweet from the team read. The Wormhole team also told users that it was preparing an incident report on the matter, and it would release it soon. Ju...
Altcoin analyst calls Near Protocol a solid project, sees FTM bottoming at $1.50
The market has gained ground on Friday following yesterday’s pullback that halted the uptrend that started on Monday Fantom, alongside other altcoins, is seeing modest gains Crypto analyst Altcoin Sherpa has shared in a series of tweets his short-term predictions for Bitcoin (BTC), Fantom (FTM), and Near Protocol’s native token NEAR. Sherpa, an advisor for the decentralised cross-chain liquidity aggregator Atlas, has previously made a number of right calls on various alts. NEAR/USD NEAR posted an all-time high slightly above $20 just a little over two weeks ago. The surge was propelled by several factors, including Near Protocol’s successful completion of a $150 million funding round led by Three Arrow Capital. Since then, NEAR/USD has lost over 40% of its value and is currently trading at...
A metaphor? NYC ‘solid gold cube’ crypto promo turns out to be hollow
The “solid gold cube” crypto promo that surfaced in New York this week has turned out to be hollow on the inside, with onlookers online lampooning the stunt as an appropriate critique of the extravagant promises of crypto and blockchain tech. On Feb. 2, Artnet reported that a 24-carat 410 pound gold cube worth $11.7 million had been placed in Central Park surrounded by a “heavy security detail” as part of a promo for German artist Niclas Castello’s crypto project dubbed Castello Coin (CAST). New in NYC: A cube made from $11.7 million worth of solid gold is sitting in Central Park—and has its own security detail: https://t.co/DTsqhgCcbc pic.twitter.com/5kXUDSVnS9 — Artnet (@artnet) February 2, 2022 According to the project’s website, CAST will be the first crypto coin in history to “achieve...
