Crypto news
Starbucks joins NFT party, UK government seeks stablecoin regulations and Crypto Twitter rallies behind cancer fighter, Hodler’s Digest: Apr. 3-9
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 Starbucks announces NFT initiative as union-busting controversy continues Nonfungible tokens continue making headlines, with coffee giant Starbucks having recently signaled its intent on joining the NFT party. “Sometime before the end of this calendar year, we are going to be in the NFT business,” said Starbucks CEO Howard Schultz via a Partner Open Forum on Monday. The NFT talk surfaced in tandem with a rising interest in unionization led by workers of the chain’s U.S. stores. One of the folks heading u...
The first-ever Metaverse Fashion Week: Digital fashion is here to stay
Incredible as it may seem, digital fashion has developed so much that it already needs its own fashion week with all that implies: from the shows and presentations of new collections to public talks and parties with true DJs. The first-ever digital fashion week took place March 23-27 in Decentraland, a decentralized virtual social platform on the Ethereum blockchain. Previously, Jonathan Simkhai presented his collection in Second Life right before New York Fashion Week. After the show, skins of evening outfits could be purchased at NFT to dress up users’ avatars in Second Life. Decentraland also held the first full-fledged fashion week in history, lasting five days. On the first day, Selfridges launched a store where NFT of the real exposition currently held in London was presented — the f...
Seven times Bitcoin miners made the world a better place
What do a swimming pool, beef jerky, a caravan, timber, animal waste, a Guatemalan lake and a high school have in common? They’ve all been saved by Bitcoin (BTC) mining. From reusing “waste” heat to getting the job done — to receiving a cool blast of air to dehydrate meat, to cleaning up pollutants, Bitcoin mining does more than just secure the network. Here’s a round-up of seven times Bitcoin mining lent a hand or simply made the world a better place. Free Bitcoin mining education in Washington Sustainable Bitcoin mining company Merkle Standard has taken Bitcoin mining education into its own hands. In partnership with Bitmain, they recently gifted the latest in Bitcoin mining technology to Newport High School, a high school in Washington state. Plus, they donated $10,000...
Solana risks 35% price crash with SOL price chart ‘megaphone’ pattern
Solana (SOL) risks crashing 35% in the coming days as it comes closer to painting a so-called “megaphone” pattern. SOL price “megaphone” pattern In detail, megaphone setups consist of a minimum of lower lows and two higher highs and form during a period of high market volatility. But generally, these patterns consist of five consecutive swings, with the final one typically acting as a breakout signal. SOL has been sketching a similar pattern since the beginning of 2022, with the coin undergoing a pullback after testing the megaphone’s upper trendline near $140 as resistance — the fourth wing. As a result of the pattern, the Solana token could extend its decline to test the megaphone’s lower trendline as support near $65, about 35% below today’s pri...
CEEK VR gains 100%+ as push toward virtual reality and Metaverse development intensifies
Nonfungible tokens (NFTs), decentralized finance (DeFi) and the Metaverse are three of the hottest trending topics in the cryptocurrency ecosystem and each is helping the world slowly move toward the mass adoption of blockchain technology. One project looking to capitalize on these trends is CEEK VR (CEEK), a entertainment and creator-focused platform aiming to use virtual worlds to connect music artists, athletes and digital content creators with their fans. Data from Cointelegraph Markets Pro and TradingView shows that since trading at a low of $0.289 on March 15, the price of CEEK has gained 123% to hit a daily high of $0.646 on April 7 as its 24-hour trading volume spiked 178% to $90 million. CEEK/USDT 4-hour chart. Source: TradingView Three reasons for the climbing price of CEEK...
Kyber Network (KNC) soars after integrating with Uniswap v3 and Avalanche Rush Phase 2
The outlook for projects in the decentralized finance (DeFi) sector has begun to improve in recent months as a combination of global events have highlighted the benefits of holding funds outside of the traditional financial systems. One project that has rallied over the past few months is Kyber Network (KNC), a multi-chain cryptocurrency trading and liquidity hub that aims to offer users the best trading rates. Data from Cointelegraph Markets Pro and TradingView shows that after bouncing off a low of $2.83 on April 6, the price of KNC jumped 55.4% to hit an all-time high of $4.04 on April 8 amid a 253% spike in its 24-hour trading volume. KNC/USDT 1-day chart. Source: TradingView Three reasons for the building momentum of KNC include the integration of support for ten separate blockchain n...
Pro traders turn into bears after Ethereum price dropped to $3,200
After a 42% rally over a three-week period, Ether (ETH) peaked at $3,580 on April 3 and since then, a 12% correction to $3,140 has taken place. Tech giants launching their own smart contract platforms and regulatory uncertainty might have impacted investors’ sentiment and derivatives metrics also show worsening conditions that confirm professional traders’ shift toward a bearish sentiment. Ether/USD price at FTX. Source: TradingView On April 6, the Financial Times reported that Meta is reportedly planning to introduce virtual currency and lending services. This move is aimed at exploring alternative sources of revenue for Facebook, WhatsApp, Instagram and Messenger. United States Senator Pat Toomey, the ranking member of the Senate Banking Committee, also drafted a bill proposing a r...
‘I’ve never paid with crypto before’: How digital assets make a difference amid a war
The ongoing conflict in Ukraine has become a stress test for crypto in many tangible ways. Digital assets have emerged as an effective means of directly supporting humanitarian efforts, and the crypto industry, despite enormous pressure, has largely proved itself a mature community — one ready to comply with international policies without compromising the core principles of decentralization. But there is another vital role that crypto has filled during these tragic events: It is becoming more and more familiar to those who have found themselves cut off from the payment systems that had once seemed unfailing. Traditional financial infrastructures don’t usually work well during military confrontations and humanitarian crises. From hyperinflation and cash shortages to the destruction of ATMs,...
How blockchain technology is transforming climate action
The United Nations Climate Change Conference of November 2021, known as COP26, in Glasgow, Scotland urged the world to commit to curbing contributions to carbon emissions. Achieving a net-zero world in less than 30 years is causing many to turn to blockchain technology, buy carbon offsets, and spark renewed interest in carbon capture. The United Nations Environment Programme (UNEP) has identified transparency, clean energy, carbon markets and climate finance as areas where blockchain technology can accelerate climate action. At the 2017 Paris Summit, the UN Climate Change Secretariat joined a multi-stakeholder group of organizations to establish an open global initiative, the Climate Chain Coalition, signaling its early support for blockchain for the climate. At the Middle East and North A...
Bitcoin whales fill their bags despite warnings BTC price could fall below $40K
Bitcoin (BTC) headed toward $42,000 on April 9 after bulls failed to spark a late-week turnaround. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin lines up 10% weekly red candle Data from Cointelegraph Markets Pro and TradingView showed BTC/USD slowly dissolving support levels in place for several weeks as the weekend began. After multiple tests of $43,000, that area finally gave way to see the pair hit lows of $42,131 on Bitstamp, its lowest since March 23. Bulls hoping for a rescue move felt the pain, with cross-crypto liquidations totaling $200 million in the 24 hours to the time of writing Saturday, data from on-chain monitoring resource Coinglass confirmed. Crypto liquidations chart. Source: Coinglass For traders, the short-term outlook was thus firmly bearish...
NFT Investments PLC mulls £96M acquisition of Pluto Digital
On Friday, NFT Investments PLC, a U.K.-based blockchain firm that invests in companies operating in the nonfungible tokens, or NFTs, space, announced that it would no longer pursue a 96 million pound acquisition of Pluto Digital. Although it did not directly state its reasons for canceling the deal, NFT Investments wrote: “The company is well-positioned to take advantage of the recent market correction in the blockchain and digital assets sectors by investing at attractive valuations.” Back in January, NFT Investments signed a non-binding letter of intent to acquire Pluto Digital, which builds infrastructure in the decentralized finance, or DeFi, realm, via the new issuance of NFT shares. From last November to March of this year, the blockchain industry witnessed a month-long&n...
Altcoin Roundup: Interoperability push puts attention back on Polkadot
The Polkadot ecosystem sorely underperformed compared to other layer-1 networks in 2021, while the slow roll-out of parachain auctions and mainnet launches left the network playing catch-up in 2021. It appears that this trend came to an end in mid-March when numerous projects in the Polkadot ecosystem saw their prices climb higher after users began to engage with networks that expanded their offerings and made a push toward Ethereum Virtual Machine (EVM) compatibility. DOT, GLMR, ACA, ASTR, SAITO, CFG and KYL in USDT pairs. Source: TradingView Here’s a look at six top moving protocols in the Polkadot ecosystem that are helping to establish a presence in the cryptocurrency market. Interoperability is the key Interoperability has been one of the driving themes of the cryptocurrency market fo...
