Crypto news
Bitcoin sellers keep BTC price action in check amid $45K ‘fakeout’ warning
Bitcoin (BTC) took a breather from its latest upside on March 26 after predicted resistance kicked in just under the yearly open. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin fakeouts: Third time’s the charm? Data from Cointelegraph Markets Pro and TradingView showed BTC/USD lingering around $44,500 Saturday, preserving the lion’s share of the week’s progress. Traders had sounded the alarm on a possible retracement after a large sell wall appeared on major exchange Bitfinex. In the event, sell-side pressure prevailed, halting bulls’ advance at just above $45,000. “Still waiting to see how price trades around yearly open. The prev times I targeted it we came up short but got very close although this time looks better for BTC. Almost ...
How to convert your digital art into NFTs and sell it
What is an NFT? NFTs are nonfungible tokens. The adjective “nonfungible” is often used in economics to represent features such as uniqueness and non-interchangeability. In the crypto space, nonfungibility simply indicates that one item cannot be exchanged for another. A “token” as a unit of account is basically a certificate of validity stored on the decentralized blockchain, making digital assets traceable and accessible to everyone. As a result, NFTs are a one-of-a-kind virtual currency that can fall into pretty much any category and usually take the shape of paintings, videos, music, collectible items in video games or any other type of creative digital production. Since NFTs boomed in early 2021, everyone is now buying and selling these tokens throughout the world. But, how can someone...
Cryptocurrency vs. Stocks: Key differences explained
Both the crypto and the stock markets are volatile and subject to external influences. However, there are also differences between them. When we’re talking about cryptocurrency vs. stocks, there is a big difference in how they are traded. Cryptocurrency can be bought at a cryptocurrency exchange, whereas you can buy stocks at the stock exchange. Of course, there are differences in the exchanges and opening hours, as previously described. Normally, the crypto market is more volatile than the stock market. However, the stock market is also subject to volatility due to interest rate changes and uncertain situations like war, inflation rate and monetary policy changes. But, what about trading costs in cryptocurrency vs. stocks? Basically, transaction fees do not a...
Is Illuvium the first fun crypto RPG video game?
Blockchain games have been quite popular among crypto enthusiasts for a long time because they use cryptocurrency as an in-game tool. In these kinds of games, blockchain technology is used to secure the absolute ownership of game items, represented by tokens. For example, by purchasing an in-game nonfungible token (NFT), a player can be sure that he possesses a truly rare item that can be stored and controlled outside the game. This ownership provides a completely new player-driven economy where players can create their own unique content. However, crypto games are still far from the legacy PC or console games in terms of quality and gameplay, perhaps because the world is still cautious about the blockchain technology itself and is not ready to integrate it into the multi-billion dollar in...
Making a crypto fortune is easy, but here are 5 rules to follow to keep it
Investing in any financial asset can be a tricky exercise, but this is especially true for the fast-paced cryptocurrency market, which comes with its own unique set of pitfalls and challenges. A popular saying dictates that it takes 10,000 hours to master a skill and become an expert. In cryptoland time, this is measured in market cycles, which subject each trader to a few trips on the roller coaster of volatility as a crash course on navigating the market. Here are five important lessons every trader should learn when it comes to investing in cryptocurrency bull markets. Rule #1: No one ever went broke taking profits Since the early days of crypto, the community has been proud of its “hodl” nature, with the volatility in the price of Bitcoin (BTC) and other tokens haven shaken coins...
After years of doubts and concerns, it is finally Bitcoin’s time to shine
Gold has served as a store of value for thousands of years. Due to this, investors have widely used it as a hedging tool against the effects of recessions and inflation often caused by geopolitical tensions. In light of recent events such as the COVID-19 pandemic and, more recently, the military crisis between Russia and Ukraine, many investors have sought alternatives to gold and other precious metals as hedging options. As we approach a digitized age, it is a prerequisite that alternatives to gold are equipped to deal with the future. In this search for a contender to challenge gold’s dominance, Bitcoin (BTC) has shone the brightest. A spike in the price of gold is usually an indicator of anxiety within traditional equity markets, with the current consensus among investors being that gol...
Decentralization, DAOs and the current Web3 concerns
What we call Web3 will be centered on an ecosystem of technology products that are decentralized, based on blockchain networks, interoperable, and without a traditional trusted validator (such as corporations, institutions and government bodies). But exactly what does this mean? What is Web3? Web3, a term coined by Gavin Wood, Web3 Foundation president, is the next phase of the internet and, perhaps, of organizing society as a whole. Web1 was the era of open, decentralized protocols, where most online activity involved browsing individual static pages. Web2, which we are now experiencing, is the era of centralization, in which a large part of communication and commerce occurs on captive (closed) platforms and is owned by a handful of technology corporations, subject to centralized co...
Coinbase to track off-platform crypto transfers in Canada, Singapore, Japan
Citing compliance with local jurisdictions, crypto exchange Coinbase announced to soon collect additional information from users based in Canada, Singapore and Japan. Effective from April 1, Coinbase users from Canada, Singapore and Japan will be required to provide additional information while sending cryptocurrencies to a different (non-Coinbase) platform. However, while Singaporean and Japanese investors will be required to share additional information about the recipient for every single off-platform transaction, Canadians sending less than $801 (1,000 CAD) will be exempted from this requirement. Screenshot of Coinbase requesting recipient information from Canadian users. Source: Coinbase As shown in the above screenshot, Canadian users will need to share the full name and ...
Nexo and Amber Group executives claim ‘exponential’ growth in crypto institutional investment
During the 8th edition of the Blockchain Africa Conference 2022, Cointelegraph’s editor-in-chief Kristina Lucrezia Cornèr moderated a virtual panel titled “Cryptocurrency Institutional Investment: Increasing Returns and Improving Diversification.” Panelists Kalin Metodiev, co-founder and managing partner at Nexo, and Dimitrios Kavvathas, chief strategy officer at Amber Group, focused on the opportunities that institutional investors perceive in the blockchain and crypto space, both in Africa and globally. [embedded content] Nexo is a crypto borrowing and exchange platform that recently began offering crypto custodial services, products and lending services to institutional investors, in partnership with the crypto wing of Fidelity Investments, which is called Fidelit...
Secretary Yellen recognizes ‘benefits of crypto’ despite lingering skepticism
Janet Yellen, the 78th United States Secretary of the Treasury, spoke Friday morning on CNBC’s flagship business and politics show Squawk Box, on an array of topics from the growth of the renewable energy sector amid Russia’s economic isolation, the rising levels of inflation and Federal Reserve responsibility, as well as her current perspective on digital assets. Recognizing the multitude of technological and societal advancements within the cryptocurrency space over the past few years, Yellen offered a friendlier, more receptive tone than on previous occasions, stating that crypto is “now playing a significant role, not really so much in transactions, but in investment decisions of lots of Americans.” “There are benefits from crypto, and we recognise that innovations in the p...
MIT adds the Bank of England to its stable of CBDC digital currency research partners
The Bank of England announced Friday that it had reached an agreement with the Massachusetts Institute of Technology Media Lab Digital Currency Initiative, or DCI, on a joint twelve-month research project on Central Bank Digital Currency, or CBDC. The bank said in a statement that the new project was for research purposes only, and not intended to develop an operational CBDC. The bank began studying CBDC in 2020, releasing a discussion paper in March of that year, which the DCI responded to with a discussion of how a CBDC could meet the objectives stated in the paper. The bank and the treasury headed up an exploratory task force on the matter last April. The bank’s latest discussion paper on CBDC was released Thursday. Other voices have entered the discussion as well, with the House of Lor...
Ukraine launches NFT museum ‘to keep the memory of war’
The Ministry of Digital Transformation in Ukraine has started an online nonfungible token museum aimed at preserving the timeline of major events starting with the Russian military invading the country. In a Friday tweet, Ukraine’s minister of digital transformation Mykhailo Fedorov said the government launched an initiative with nonfungible token, or NFT, artwork depicting key moments from the Ukrainian perspective from Feb. 24 onward. The NFTs feature events starting at 5:45 AM local time on the day of the conflict, when Russia announced a “special military operation” in the Donbas region of Ukraine. According to the NFT museum website at the time of publication, 54 NFTs of key moments in the war between Feb. 24 and Feb. 26 will be available starting on March 30, with proceeds of the sal...
