crypto blog
Japan is losing its place as the world’s gaming capital because of crypto hostility
A marked hostility toward new and emerging Web3 technologies like cryptocurrencies runs the risk of costing Japan its place as the world’s gaming capital. We’re getting dangerously close to the point of no return, and here’s why. Nobody can be sure where the country’s antagonism to crypto originated or why it still persists even after the nonfungible token (NFT) and crypto “boom” of 2021, which took off in a major global way and prompted officials in the United States and Europe to backtrack on their initial antipathy for the space, finally opening up to regulations. The White House just released its first crypto regulatory framework in September 2022, and the European Parliament Committee followed up in October 2022 by approving the Markets in Crypto-Assets framework, also known as ...
Mastercard and Paxos help banks offer crypto, Jack Dorsey details new social platform and Tesla hodls BTC: Hodler’s Digest, Oct. 16-22
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Mastercard taps Paxos to launch crypto trading for banks Banks will soon be equipped to offer clients crypto trading and custody thanks to a new program called “Crypto Source” from Mastercard and Paxos Trust Company. As part of the program, Mastercard will cover some of the compliance, security and interface details while Paxos handles crypto custody and trading. Expected in the final quarter of 2022, the Crypto Source program will essentially provide the underpinning that will let banks offer crypto trading a...
Spain overtakes El Salvador to become third largest crypto ATM hub
The European country of Spain is officially home to the third-largest network of Bitcoin (BTC) and cryptocurrency ATMs after the United States and Canada. Spain currently hosts 215 crypto ATMs, pushing El Salvador — wi 212 crypto ATMs — down to the fourth position after surpassing the country by 3 crypto ATMs. Data from CoinATMRadar confirms that Spain represents 0.6% of the global crypto ATM installations. Crypto ATM distribution by continents and countries. Source: CoinATMRadar Moreover, the revelation places Spain as the highest contributor to crypto ATMs in Europe, which represents 14.65% of total installations in the continent, followed by Switzerland (144 ATMs), Poland (142 ATMs) and Romania (135 ATMs). Crypto ATM installation growth in Spain. Source: CoinATMRadar In 2022 alone...
What directional liquidity pooling brings to DeFi
Modern decentralized exchanges (DEXs) mainly rely on liquidity providers (LP) to provide the tokens that are being traded. These liquidity providers are rewarded by receiving a portion of the trading fees generated on the DEX. Unfortunately, while liquidity providers earn an income via fees, they’re exposed to impermanent loss if the price of their deposited assets changes. Directional liquidity pooling is a new method that is different from the traditional system used by DEXs and aims to reduce the risk of impermanent loss for liquidity providers. What is directional liquidity pooling? Directional liquidity pooling is a system developed by Maverick automated market maker (AMM). The system lets liquidity providers control how their capital is used based on predicted price changes. In the t...
Bitcoin will shoot over $100K in 2023 before ‘largest bear market’ — trader
Bitcoin (BTC) will top $100,000 next year but a record-breaking bear market will follow, a popular trader believes. In a Twitter discussion on Oct. 22, Credible Crypto endorsed a theory that Bitcoin’s next halving will also see macro lows of just $10,000. BTC bulls need only wait a year for $100,000 With consensus calling for Q4 2022 to match the end of the 2018 Bitcoin bear market, few are in the mood to call a trend change. While a bold prediction from LookIntoBitcoin creator Philip Swift recently gave the current bear market just months to live, most commentators continue to target new lows. For Credible Crypto, however, the really interesting territory lies further ahead — but 2023 will constitute a major turning point. After setting new all-time highs (ATHs) of at least $100,000, BTC/...
How to do mobile cryptocurrency mining?
Cryptocurrencies like Bitcoin (BTC) are created using a distributed computing process called mining. Miners (the network participants) undertake mining to verify the legitimacy of transactions on the blockchain and ensure network security by preventing double-spending. In return for their efforts, miners are rewarded with a certain amount of BTC. There are various ways to mine cryptocurrencies, and this article will discuss how to get started with mobile crypto mining from the comfort of your home. What is crypto mining? Mining, a resource-intensive activity that often demands enormous computing power to solve a computational problem and add the next valid block to a blockchain, is a crucial component of cryptocurrencies. Typically, graphics processing units (GPUs) or high-performanc...
Crypto Biz: Bear market claims another casualty
Three Arrows Capital. Celsius. Voyager Digital. The list of crypto bankruptcies, shutdowns and trading freezes has been endless in 2022. And the year isn’t over yet. This week, German crypto bank Nuri urged its users to withdraw funds ahead of the company’s planned shutdown in December — at least Nuri’s users were given proper notice. The crypto bear has been relentlessly cleansing the market of excess, leverage, poor risk management and outright scams. If industry prognosticators are to be taken seriously, the market could see one final capitulation before conditions begin to improve. This week’s Crypto Biz chronicles Nuri’s shutdown, the latest drama surrounding Voyager Digital and Silvergate Capital’s difficult quarter. German crypto bank Nuri tells 500K users to withdraw funds ah...
3 historically accurate Bitcoin on-chain metrics are flashing ‘bottom’
Bitcoin (BTC) and other riskier assets slipped on Oct. 21 as traders scrutinized macro indicators that suggest the Federal Reserve would continue to hike rates. Nonetheless, the BTC/USD pair remains rangebound inside the $18,000–$20,000 price range, showing a strong bias conflict in the market. BTC price holding above $18K since June Notably, BTC’s price has been unable to dive deeper below $18,000 since it first tested the support level in June 2022. As a result, some analysts believe that the cryptocurrency is bottoming out, given it has already corrected by over 70% from its record high of $69,000, established almost a year ago. BTC/USD daily price chart. Source: TradingView “During the 2018 bear market, BTC saw a max drawdown from peak to trough of 84%, lasting 364 days, wh...
New York-based forex broker Oanda launches crypto trading services in US
New York-based multi-asset trading services Oanda has launched a new cryptocurrency trading service in the United States. This latest addition, developed in partnership with regulated blockchain infrastructure provider Paxos Trust Company, is designed to give investors easy access to crypto alongside their existing forex portfolios in a secure environment. The collaboration will enable U.S.-based investors to spot-trade cryptocurrencies on Paxos’s itBit exchange through Oanda’s mobile platform, the broker said. Investors will be able open and fund trading accounts, as well as access major cryptocurrencies such as Bitcoin (BTC) and Ether (ETH). According to Oanda, users will benefit from the company’s long track record in the forex and derivatives markets. Oanda’s partner Paxos is a r...
Gate.io users at risk as scammers fake giveaway on hacked Twitter account
Hackers took over the official Twitter account of crypto exchange Gate.io, putting over 1 million users at risk of losing funds to an ongoing fraudulent Tether (USDT) giveaway. Social media platform Twitter serves as the most effective medium to reach the crypto community. As a result, the trend of hacking into official Twitter handles of verified accounts to promote scams is on the rise. Hackers of unknown origin took over Gate.io’s Twitter account and changed the website URL from Gate.io to gąte.com (https://xn--gte-ipa.com/) — a fraudulent website impersonating the exchange. The fake website is actively promoting a fake giveaway of 500,000 USDT while asking users to connect their wallets (such as MetaMask) to claim the rewards. Once a user connects their wallet to the fake website, the ...
Price analysis 10/21: SPX, DXY, BTC, ETH, BNB, XRP, ADA, SOL, DOGE, MATIC
The 10-year Treasury yield in the United States rose to its highest level since 2008. Although this type of rally is usually negative for risky assets, the U.S. stock markets recovered ground after the Wall Street Journal reported that some officials of the Federal Reserve were concerned about the pace of the rate hikes and the risks of over-tightening. While it is widely accepted that the U.S. will enter a recession, a debate rages on about how long it could last. On that, Tesla CEO Elon Musk recently said on Twitter that the recession could last “probably until spring of ‘24,” and added that it would be nice to spend “one year without a horrible global event.” Daily cryptocurrency market performance. Source: Coin360 Bitcoin’s (BTC) price has witnessed a massive drop from its all-time hig...
Amendment to UK financial services bill provides regulation for crypto activities
An amendment to the Financial Services and Markets Bill now before the United Kingdom’s Parliament would extend the law’s powers to regulate financial promotion and other activities to crypto assets. The amendment was written by Member of Parliament and Financial Secretary to the Treasury Andrew Griffith. The 335-page bill was introduced in July and had its second reading in the House of Commons on Sept. 7. According to the explanatory statement accompanying the amendment, it would: “[…] clarify that the powers relating to financial promotion and regulated activities can be relied on to regulate cryptoassets and activities relating to cryptoassets.” The Financial Conduct Authority (FCA), the U.K.’s financial regulator, published a “Dear Chief Executive” letter Aug. ...
