Crypto news
Top 5 cryptocurrencies to watch this week: BTC, ETH, MATIC, FTT, ETC
The United States equities markets recovered from their intra-week lows last week, suggesting demand exists at lower levels. On similar lines, Bitcoin (BTC) also recovered from $18,910 last week, indicating that traders may be getting back into risky assets. However, analysts remain divided in their opinion on the recovery in Bitcoin. While some believe that the relief rally is a bull trap, others expect the up-move to retest the crucial resistance at the 200-week moving average ($22,626). Crypto market data daily view. Source: Coin360 The current bear phase has damaged sentiment as seen from the Crypto Fear and Greed Index, which has remained in the “extreme fear” zone since May 6. According to Philip Swift, creator of on-chain analytics platform LookIntoBitcoin, the time spent...
Could Bitcoin miners’ troubles trigger a ‘death spiral’ for BTC price?
A July 9 post by @PricedinBTC on the “cost to mine Bitcoin” in the United States gathered the crypto community’s attention, especially considering the recent headlines that BTC miners have made. The crypto bear market and growing energy costs have caused a perfect storm for the mining sector and this has led some companies to lay off employees and others to defer all capital expenditures. Some went as far as raising concerns of Bitcoin miners hitting a “death spiral.” In bear markets like this, inevitably a Bitcoin critic comes out and says that Bitcoin will soon collapse from a “miner death spiral”, meaning that miners will go offline because it is not profitable to run their operations, and then Bitcoin’s hash rate will fall, causing its… — Cory Klippsten (@coryklippste...
What is Bitcoin whale watching and how to track Bitcoin whales?
Whales are held responsible for sudden price fluctuations in the crypto and traditional markets every so often. Given their capability to manipulate market prices, it becomes paramount for the general Bitcoin (BTC) investors to understand the nuances that make one a whale and their overall impact on trading. Wallet addresses that contain large amounts of BTC are identified as Bitcoin whales. Dumping or transferring large amounts of BTC from one wallet to another negatively impacts the prices, resulting in losses for the smaller traders. As a result, tracking Bitcoin whales in real-time allows small-time traders to make profitable trades amid a fluctuating market. Despite Bitcoin’s global and decentralized nature, tracking down and monitoring whales simply boils down to accessing read...
The women of crypto take over Davos WEF
Many of you closely follow the gathering of the decision-makers at Davos during the annual World Economic Forum. Many of you have very strong opinions about these gatherings, which I share. Right now, however, I would like to discuss what inspired me the most during those five days of the summit. This was my first Davos event, and I could not help noticing how many women decision-makers were present, in stark contrast to similar crypto events happening in Dubai and Lisbon, for example. Yes, the Promenade at Davos was taken over by crypto companies, exceeding the traditional finance and tech presence, but it was the presence of so many women in senior positions representing every segment of the crypto industry that increased my firm belief that the future of the crypto industry is bri...
Bitcoin hodlers will ‘soon see why’ $21.6K BTC price pump is fake — trader
Bitcoin (BTC) spiked to one-week highs on July 17 amid warnings that traders should not trust current BTC price action. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Binance inflows see multi-week high Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $21,600 on Bitstamp, its best performance since last Sunday. The pair saw a fresh leg up during the weekend, this nonetheless coming on the back of thin, retail-driven “out-of-hours” liquidity with institutions out of the picture. Weekend pumps typically are not to be trusted Let’s see how this one holds going into the weekly close tomorrow — Rager (@Rager) July 16, 2022 With Bitcoin prone to “fakeout” moves both up and down in such conditions, there was thus lit...
Ethereum traders gauge fakeout risks after 40% ETH price rally
Ethereum’s native token Ether (ETH) saw a modest pullback on July 17 after ramming into a critical technical resistance confluence. Merge-led Ethereum price breakout ETH’s price dropped by 1.8% to $1,328 after struggling to move above two strong resistance levels: the 50-day exponential moving average (5-day EMA; the red wave) and a descending trendline (black) serving as a price ceiling since May. ETH/USD daily price chart. Source: TradingView Previously, Ether rallied by over 40% from $1,000 on July 13 to over $1,400 on July 16. The jump appeared partly due to euphoria surrounding “the Merge” slated for September. Meanwhile, a golden cross’s appearance on Ethereum’s four-hour chart also boosted Ether’s upside sentiment among technical a...
56% of banks say DLT and crypto are ‘not a priority’ in near future — Fed survey
A survey conducted by the Federal Reserve Board of the United States suggested that the majority of officials at major banks did not consider crypto-related products and services a priority in the near future. According to the results of a Fed survey released on Friday, more than 56% of senior financial officers from 80 banks said distributed ledger technology and crypto products and services were “not a priority” or were “a low priority” for their growth and development strategy for the next two years, while roughly 27% said they were a medium or high priority. However, roughly 40% of respondents in the survey said the technology was a medium or high priority for their banks for the next two to five years. Results of Fed survey from May 2022. Source: Federal Reserve Answers from surveyed ...
2018 Ethereum price fractal suggests a $400 bottom, but analysts say the merge is a ‘wildcard’
There’s no rest for the weary during a bear market, and the Crypto Fear and Greed index shows that investor sentiment has been stuck in a state of “extreme fear” for a record 70 consecutive days. As the market looks for a catalyst to reverse the trend, there is little on the horizon besides the Ethereum (ETH) Merge that seems capable of sparking a rally. If that is indeed the case, the market could continue to trend down or sideways until the tentative Merge date of September 19. Data from Cointelegraph Markets Pro and TradingView shows that Ether price remains sandwiched in the trading zone it has been trading in since June 13 and it is currently running into the upper resistance near $1,240. ETH/USDT 1-day chart. Source: TradingView With the Merge still a couple of months awa...
Axie Infinity: Re-engineering its destiny in the GameFi landscape
Axie Infinity, the blockchain-based game that has popularized the play-to-earn gaming model, often invites awe and suspicion. The game has created a new type of job market and allows a quick return for game investors. However, its highly volatile in-game crypto (the Smooth Love Potion, or SLP), the hacking of its Ronin chain, and the resulting new digital inequality pose threats to its existence. Axie is a form of “extreme entrepreneurship,” wherein success and failure can happen almost overnight, subject to the dynamics of SLP. Many predictions have been made regarding Axie’s coming collapse and lost trust among its players. Can Axie rise to its former glory amid the crypto winter and uncertain global economy? As a game lover myself, I was very intrigued regarding Axie Infinity’s future, ...
How blockchain technology is used to save the environment
In her monthly Expert Take column, Selva Ozelli, an international tax attorney and CPA, covers the intersection between emerging technologies and sustainability, and provides the latest developments around taxes, AML/CFT regulations and legal issues affecting crypto and blockchain. In June, the United Nations held its “Stockholm+50: a healthy planet for the prosperity of all — our responsibility, our opportunity” event, focused on implementing its Decade of Action to deliver the Sustainable Development Goals, 2030 Agenda, Paris Agreement, and Post-2020 Biodiversity Framework, as well as to encourage a green recovery from COVID-19. The event took place 50 years after the first-ever United Nations Conference on the Human Environment in 1972, giving world leaders the chance to reflect on five...
MiCA and ToFR: The EU moves to regulate the crypto-asset market
On the last day of June, the European Union reached an agreement on how to regulate the crypto-asset industry, giving the green light to Markets in Crypto-Assets (MiCA), the EU’s main legislative proposal to oversee the industry in its 27 member countries. A day earlier, on June 29, lawmakers in the member states of the European Parliament had already passed the Transfer of Funds Regulation (ToFR), which imposes compliance standards on crypto assets to crack down on money laundering risks in the sector. Given this scenario, today we will further explore these two legislations that, due to their broad scope, can serve as a parameter for the other Financial Action Task Force (FATF) members outside of the 27 countries of the EU. As it’s always good to understand not only the resul...
How to identify and avoid a crypto pump-and-dump scheme?
Educating oneself about the crypto ecosystem is crucial for investors to pursue during a bear market while awaiting a bull cycle. That being said, having a good understanding of crypto investment entails keeping an eye out for fraudulent projects that threaten to drain assets overnight, a.k.a. pump-and-dump schemes. Pump-and-dump in crypto is an orchestrated fraud that involves misleading investors into purchasing artificially inflated tokens — typically marketed and hyped by paying celebrities and social influencers. SafeMoon token is one of the most prominent examples of an alleged pump-and-dump scheme involving A-list celebrities, including Nick Carter, Soulja Boy, Lil Yachty and YouTubers Jake Paul and Ben Phillips. Once the investors have purchased tokens at inflated prices, the peopl...
