Crypto news
What are the worst crypto mistakes to avoid in 2022? | Find out now on The Market Report
“The Market Report” with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss the worst mistakes you should avoid making in crypto. But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. Next up: the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as they talk about the worst crypto mistakes to avoid making in 2022. First up, we have Bourgi, who thinks investors should avoid “analysis paralysis.” In other words, don’t overanalyze. Make decisions based on firm conviction. Don’t just look at the price of a coin or token you’re interested...
Coinbase to bring BAYC NFTs to the big screens via a short film trilogy
The Degen Trilogy is a three-film trilogy set to air during NFT.NYC this June There are also plans for a series based on Mutant Ape Yacht Club NFTs Crypto exchange Coinbase has announced that it is collaborating with Bored Ape Yacht Club (BAYC) to create a short animated film based on its NFT characters. Coinbase revealed the news via a tweet shared yesterday, alongside a link leading to the trilogy’s website, plastered with the inscriptions’ Something is Coming.’ Titled The Degen Trilogy, the animated film will be produced by a Hollywood director, with the series set to make its silver screen debut at the NFT.NYC event planned for June 20 – 23. BAYC owners who wish that their NFT characters take part in the film can forward their submissions for selection by the director. Community input ...
Tables turn as shorts suffer in the wake of Bitcoin reclaiming $40k
Monday’s slump saw over $470 million in long bets wiped away from the market In the last four hours, the majority of the liquidations have been from traders betting on prices declining Bitcoin price fell below $40k early on Tuesday for the first time since March 16 as the market underwent further correction. Altcoins felt the pinch as well, with their prices sliding even further than they did on Monday. The premier alt, Ether, fell to a multi-week low of $2,958, CoinMarketCap data shows. Two contrasting strokes The crypto market has since slightly loosened, with Bitcoin climbing back to $40,210 where it was last spotted hovering. Ethereum’s native token has moved up to $3,020. This minor recovery has meant losses for traders betting on a continued downtrend. Data from Coinglass shows that ...
Kevin O’Leary says Bitcoin can’t crash as it is now a store of value
Shark Tank host Kevin O’Leary is confident Bitcoin price will never collapse to zero The TV personality and entrepreneur has invested in Gold, Bitcoin and several other altcoins In a Monday interview with Kitco’s Michelle Makori, TV personality Kevin O’Leary asserted that the price of Bitcoin will never reach zero. The Canadian businessman defended his take, arguing that the crypto asset, now 13 years old, has secured its place in the financial space as a store of value. O’Leary compared Bitcoin to gold in this regard, adding that he has invested an equal fraction of his portfolio in both assets. “Bitcoin is never going to zero. This is a personal opinion. There are enough people around the world that see it as a store of value, me included. It is a 5% weighting in my portfolio, just like ...
White Star Capital raises $120M for Ubisoft backed Web3 investment fund
Tech venture capital firm White Star Capital has secured $120 million in funding for its second Digital Asset Fund (DAF II) to invest in crypto networks and early-stage blockchain and Web3 businesses. The fund is primarily backed by game publishing giant Ubisoft and will take a particular focus on decentralized finance (DeFi) and gaming. It will invest as much as $7 million in each of 20-25 companies in North America, Europe, and Asia. The firm’s increased attention to DeFi, Web3, and blockchain-based technology suggests that it will begin to support companies that utilize or develop Metaverse solutions as well. This would bring it into the space in which Animoca Brands has carved out a neat corner for itself. White Star’s previous investments from its first DAF in 2020 include Stacks-base...
Leading centralized exchanges extend market share in 2022
The top centralized cryptocurrency exchanges have reached all-time highs for market share this year as the trading volume in crypto consolidates onto the platforms of only a few trusted companies. These named “top-tier” crypto exchanges have increased their market share from 89% in August 2021 to 96% in February 2022, according to data collected by United Kingdom analytics company CryptoCompare published on Monday. The firm analyzed over 150 active centralized exchanges, ranking them on security, number of assets available, regulatory compliance, Know Your Customer checks and more, grading them from a top score of AA to a low of F, with “top tier” receiving a grade B or above. A total of 78 exchanges received a “top tier” grade, with Coinbase, Gemini, Bitstamp and Binance as the only four ...
Bitcoin claws back $40K as 24-hour crypto liquidations near $500M
Bitcoin (BTC) attempted to reclaim $40,000 as support on April 12 after a troubling start to the week saw BTC/USD hit three-week lows. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Extraordinarily elevated” CPI data due Data from Cointelegraph Markets Pro and TradingView showed the largest cryptocurrency bouncing to $40,200 on Bitstamp Tuesday after falling to just $39,300. Spurred on by a bleed-out in tech stocks in particular, Bitcoin looked decidedly unappetizing on short timeframes, and those previously betting on bullish continuation were left empty-handed. According to on-chain monitoring resource Coinglass, the past 24 hours cost crypto traders a total of $428 million in liquidated long positions — the most in a day since Jan. 22. Crypto liquidations ...
Indian crypto exchanges’ volume plunges down as 30% tax goes into effect
Fresh data on Indian crypto exchanges’ trading volume reveals a significant decline in trading practices among Indians just ten days after the tax rule implementation. India’s new 30% crypto tax rule came into effect on April 1, despite many stakeholders and exchange operators warning against its ill effects. A research data report shared by Indian blockchain analytic firm Crebaco with Cointelegraph shows that trading volume on top Indian crypto exchanges has declined as high as 70% in the past 10 days. Crypto Trading Volume on Major Indian Exchanges Source: Creabaco The trading volume on WazirX, the leading crypto exchange in India, declined from $47.8 million on April 1 to $13.2 million on April 10. CoinDCX’s trading volume dropped from $12.16 million to $5.76 million, ...
Blue Chip and Metaverse NFTs propel growth of NFT Market, says Nansen report
On Tuesday, blockchain data analytics platform Nansen released its quarterly report on the state of nonfungible tokens, or NFTs. The report highlighted the rapid growth of the NFT market over that of the cryptocurrency market year-to-date, and it predicts of an $80 million market cap by 2025. As Cointelegraph previously reported, Nansen recently released six NFT indexes weighted by market capitalization denominated in Ether (ETH): Nansen NFT-500, Nansen Blue Chip-10, Nansen Social-100, Nansen Gaming-50, Nansen Art-20 and Nansen Metaverse-20. According to the Nansen 2022 Quarterly NFT Report, The NFT market continues outperforming the cryptocurrency market year-to-date, putting in a 103.7% return when denominated in ETH and 82.1% when denominated in USD. Despite a downturn i...
Kava turns bullish as Ethereum Co-Chain launch initiates push toward EVM compatibility
Protocols in the Cosmos ecosystem have seen a significant amount of growth in 2022 due to the intensifying focus on blockchain interoperability and compatibility with the Ethereum network. One protocol that has seen a buildup in momentum since the middle of March is Kava, a project that is developing a co-chain architecture for the Cosmos and Ethereum network. Data from Cointelegraph Markets Pro and TradingView shows that the price of Kava’s native token KAVA has climbed 72.3% after hitting a low of $2.92 on March 13 to establish a daily high of $5.03 on April 8. KAVA/USDT 1-day chart. Source: TradingView Three reasons for the increase in price and momentum for KAVA include the Ethereum Co-Chain beta launch, the launch of a $750 million developer incentive program and a series o...
Bitcoin price dip to $39.2K places BTC back in ‘bear market’ territory
The cryptocurrency market took a turn for the worse on April 11 after concerns related to rising inflation, the prospect of several more interest rates by the U.S. Federal Reserve and fear of a global food shortage led to widespread weakness across global financial markets. Data from Cointelegraph Markets Pro and TradingView shows that bears broke through the bulls’ defensive line at $42,000 in the early trading hours on Monday to drop Bitcoin (BTC) to a daily low of $39,200 and several analysts project even lower prices in the short-term. BTC/USDT 1-day chart. Source: TradingView Here’s a look at what analysts are saying about Monday’s move lower and whether or not traders should expect more downside over the coming days. $40,000 or bust The dip below $40,000 was foreshadowed b...
Uniswap launches venture capital wing for Web3 investments
Popular decentralized exchange (DEX) Uniswap has announced the formation of Uniswap Labs Ventures (ULV), a venture capital fund focused on investing in Web3 companies and projects. The firm will invest at any stage of development into various projects or technologies related to Web3, infrastructure, developer tools, and consumer-facing applications as areas of interest according to the announcement on Monday, April 11. The firm has already invested in 11 companies and Web3 protocols, including decentralized money market Aave, the decentralized autonomous organization (DAO) behind the DAI stablecoin, MakerDAO, and blockchain bridging protocol LayerZero. In the announcement, Uniswap expressed what it looked for in other projects it was interested in funding, but did not reveal any further pr...
