crypto blog
Bitcoin gains after $46K drop as ‘bottoming out’ continues into 2022
Bitcoin (BTC) recovered from fresh lows on Dec. 30 as markets remained undecided on their end-of-year trajectory. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $46,000 may not mark floor Data from Cointelegraph Markets Pro and TradingView showed BTC/USD bouncing to $47,731 on Bitstamp, reversing almost all of the previous day’s losses. Prior to the Wall St. open, the pair was still above the $47,000 mark, as traders nonetheless warned that choppy BTC price action was not yet over. “Pretty boring markets lately. Just a process of bottoming out for Bitcoin,” Cointelegraph contributor Michaël van de Poppe summarized. “We’re retesting $46K as support, bounced, but we might need to take the liquidity beneath the lows before we’re going to make s...
Polygon upgrade quietly fixes bug that put $24B of MATIC at risk
Ethereum-based layer two scaling network Polygon has quietly fixed a vulnerability that put almost $24 billion worth of its native token MATIC at risk. According to a Dec. 29 blog post from Polygon, the “critical” vulnerability in the network’s Proof-of-Stake (PoS) Genesis contract was first highlighted by two whitehat hackers on Dec. 3 and Dec. 4 via blockchain security and bug bounty hosting platform Immunefi. All you need to know about the recent Polygon network update.✅A security partner discovered a vulnerability✅Fix was immediately introduced✅Validators upgraded the network✅No material harm to the protocol/end-users✅White hats were paid a bounty https://t.co/oyDkvohg33 — Polygon | $MATIC (@0xPolygon) December 29, 2021 The vulnerability put more than...
DAO aims to raise $5M to resurrect Blockbuster Video
A new decentralized autonomous organization (DAO) has been formed with the goal of buying the Blockbuster brand from Dish Network and turning it into a film studio and streaming platform. Blockbuster Video is an American video rental company founded in 1985 which once had 6,000 stores globally and was valued at over $8 billion, before it shuttered almost all of its operations in 2014. It is currently owned by Dish Network and operates just one store in Bend, Oregon. The DAO interested in “liberating” Blockbuster from Dish Network is the aptly named BlockbusterDAO. The DAO explained in a Dec. 26 tweet its plans on rallying a grassroots effort to buy Blockbuster by raising at least $5 million through a Blockbuster DAO NFT minting event. Each NFT will be valued at 0.13 ETH. BlockbusterDAO pla...
Hot Doges and Bitcoinana Splits on offer at Florida crypto restaurant
A new crypto-themed restaurant in Florida is slinging hot dogs and shrimp cocktails inspired by Dogecoin (DOGE) and Shiba Inu (SHIB), with the Dogedogs being highly prized by customers. The Clearwater Beach-based venue is dubbed the “Crypto Street Restaurant” and held a grand opening to the public earlier this month with a menu full of names that give a nod to popular crypto-assets and terminology. Ricardo is such a gentleman. If you hit #ClearwaterBeach make sure you stop by! #crypto $BTC #shopsmallbusiness @LayahHeilpern @CryptoStaceyB @FinTechShark1 @olya_borderless pic.twitter.com/QVPObPf3Ff — Alexandre Lores (@alexandre_lores) December 10, 2021 The menu boasts dishes such as the Dogedog, Crypto Cuban, DeFi Caesar Salad, SHIBA Shrimp Cocktail and the Bitcoinana Split to name a few, whi...
Nifty News: Decentraland Times Square NYE party, Mutant Apes go bananas and more…
Times Square NYE party in Decentraland Decentralized Metaverse project Decentraland will unveil the virtual reality version of the iconic Times Square via a New Years Eve party that coincides with the timing of the real life celebration in New York city. The event is called the “MetaFest 2022 NYE Party” and will run until 8:00 am UTC on Jan. 1 in Decentraland’s Estate 4 district. It will feature live music, rooftop VIP lounges, a new tokenized collectibles and wearables drop, live feeds of real world NYE events across the globe, CryptoArt galleries and games. The virtual reality equivalent of the famous spot at the heart of New York is called “One Times Square,”, with the “one time” pun suggesting that the structure may be dissolved after the party concludes. Celebrate New Year...
Price analysis 12/29: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, AVAX, DOT, DOGE
The S&P 500 is trading near its all-time high but Bitcoin (BTC) has plunged about 30% from its all-time high at $69,000. Even after the sharp drop, Bitcoin is up 63%, year-to-date, outperforming the S&P 500, which is up about 30% in 2021. Gold, which is popular as a hedge against inflation, is down roughly 7% this year. Arcane research said in its report that Bitcoin’s outperformance in the high inflationary environment shows that “Bitcoin has proven itself to be an excellent inflation hedge.” Daily cryptocurrency market performance. Source: Coin360 Real Vision CEO Raoul Pal said in an interview with Vlad from The Stakeborg Talks that the recent selling in Bitcoin may have been due to institutional investors booking profits but he believes the selling may be coming to an end. Howev...
Coinone will stop withdrawals to unverified external wallets
South Korean crypto exchange Coinone has announced it plans to no longer allow withdrawals of tokens to unverified external wallets starting in January. In a Wednesday announcement, Coinone said users would have from Dec. 30 to Jan. 23 to register their external wallets at the exchange, after which time it would restrict withdrawals. The exchange specified that crypto users could only register their own wallets, and the verification process “may take some time” and could change in the future. According to Coinone, it planned to verify users’ names and resident registration numbers — issued to all residents of South Korea — to ensure crypto transactions were “not used for illegal activities such as money laundering.” Customers at the exchange likely won’t be able to withdraw funds to wallet...
ROSE gains 54% in a week as Oasis Network ecosystem expands
High transaction costs have been a thorn in the side of the top blockchain protocols for years as both Bitcoin (BTC) and Ethereum (ETH) have seen the average cost of conducting token transfers skyrocket during times of network congestion and high demand. One layer-one (L1) protocol that has been gaining traction in recent months that seeks to offer a low-cost solution to high fees is the Oasis Network (ROSE), a privacy-focused L1 blockchain built using the Cosmos SDK and designed for open finance and a responsible data economy. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.169 on Oct. 28, the ROSE price surged 176.5% to a new record high at $0.466 on Nov. 21 and is once again on the move after gaining 70% since Dec. 20. ROSE/USDT 4-hour char...
3 reasons why Convex Finance surged 215% in December to hit new all-time high
The growth of the stablecoin sector within crypto has been one of the most impactful developments of 2021. In particular, stablecoins became integral to the expanding decentralized finance (DeFi) ecosystem as their total value eclipsed $162 billion, according to CoinMarketCap. One project that has seen its token price surge thanks to its focus on stablecoins and the Curve Finance (CRV) ecosystem is Convex Finance (CVX), a protocol that aims to help users boost CRV staking to maximize yields. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $18.79 on Dec. 4, the price of CVX surged 215% to establish a new record high at $60.22 on Dec. 27. Over the same period, its 24-hour trading volume spiked from an average of $20 million to more than $163 millio...
What BTC price slump? Bitcoin outperforms stocks and gold for 3rd year in a row
Bitcoin (BTC) may be down over 30% from its record high of $69,000, but it has emerged as one of the best-performing financial assets in 2021. BTC has bested the United States benchmark index the S&P 500 and gold. Arcane Research noted in its new report that Bitcoin’s year-to-date performance came out to be nearly 73%. In comparison, the S&P 500 index surged 28%, and gold dropped by 7% in the same period, which marks the third consecutive year that Bitcoin has outperformed the two. Bitcoin vs. S&P 500 vs. gold in 2021. Source: Arcane Research, TradingView At the core of Bitcoin’s extremely bullish performance was higher inflation. The U.S. consumer price index (CPI) logged its largest 12-month increase in four decades this November. “Most economists didn’t see the hig...
Bitcoin dips below $47K but one trader is eyeing ‘solid risk/reward’ for longing BTC now
Bitcoin (BTC) added to its losses on Dec. 29 with a fresh tumble briefly taking BTC/USD below $46,600. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView RSI flashes “oversold” Data from Cointelegraph Markets Pro and TradingView showed the pair giving up ground prior to the Wall St. open to increase its 48-hour correction to 10.4%. The latest move in a familiar pattern of behavior, the market showed that the range in which Bitcoin has acted in December remains very much in play. As market participants resigned themselves to a lackluster end to the year, popular trader and analyst Scott Melker noticed a possible buying opportunity at current levels on short timeframes. Bitcoin’s relative strength index (RSI), in addition to other bullish signals, had entered...
A fair comparison? Ethereum growth outpaces Bitcoin in 2021
2021 has proven to be a fortuitous year for the world’s second-biggest cryptocurrency Ether (ETH), which has seen a fourfold increase in value over the past 12 months. In doing so, Ether has outperformed the appreciation of the preeminent Bitcoin and has gained an increased percentage of the overall cryptocurrency market by capitalization. While the wider cryptocurrency markets have enjoyed a year of relative gains, ETH’s increase in value has been in tandem with upgrades to Ethereum’s core protocol, laying down the final pillars for its transition to a proof-of-stake consensus protocol in 2022. Certain Ethereum Improvement Proposals (EIP) have been the center of attention for the wider Ethereum community and have proved to be pivotal for “The Merge” with the proof-of-stake Beacon Chain se...
