Crypto news
Bitcoin dodges ‘sub-$30K liquidity grab’ — Levels to watch now
Bitcoin (BTC) could still crash to $29,000 and lower, but price action is “healthier” than a week ago, the latest research concludes. In a fresh market update on Friday, analysts at trading suite Decentrader said that BTC price action is finally showing “green shoots of optimism.” Eyes on “near-term relief bounce” for BTC After a difficult week in which BTC/USD dipped to just under $33,000, market analysis is now focusing on the likely outcomes of the rangebound behavior seen over the past few days. For Decentrader, there is reason to be cautiously optimistic now where there was none a week ago. “We believe that the current derivatives landscape shift and this extremely negative sentiment backdrop does increase the potential for at least a near-term relief bounce,” analysts summarized. The...
Google Cloud ramps up blockchain efforts by launching digital assets team
Blockchain, cryptocurrency and decentralized technology are all fascinating topics that have been heating up for almost a decade. Nowadays, everyone wants to be part of cutting-edge innovations. A Thursday announcement by Yolande Piazza, Google Cloud’s vice president of Financial Services, said the firm has established a Google Cloud Digital Assets Team that will assist clients in creating, trading, storing value and launching new products on blockchain-based platforms. The blog reads; “This new team will enable our customers to accelerate their efforts in this emerging space and help underpin the blockchain ecosystems of tomorrow.” We’re launching a new, dedicated Digital Asset Team to help underpin the #blockchain ecosystems of tomorrow. Whether you’re implementing...
Clampdown on crypto ads: A one-off or a new phase of global regulation?
Over the last week, regulators in three major jurisdictions across two continents introduced new rules governing cryptocurrency-related promotions and advertisements. Citing consumer risks associated with digital asset investments, authorities in the United Kingdom, Singapore and Spain tightened the requirements around crypto firms’ marketing messaging and customer recruitment practices. While some experts view this emerging trend as a sign of a new global phase of cryptocurrency regulation, questions about the efficiency and universal applicability of this approach persist. New measures In the United Kingdom, Her Majesty’s Treasury issued a report summarizing the results of a public consultation on crypto-asset promotions, published in July 2020, as well as the government’s further steps ...
Staying cool: Is crypto snowballing to 1 billion users this year?
Crypto.com raised a few eyebrows this past week when it announced cryptocurrency users worldwide could reach 1 billion by the end of 2022. The timing was curious, given that Bitcoin (BTC) and many other cryptos are entwined in one of the largest drawdowns in their (albeit short) history and with the prospect of United States Federal Reserve interest-rate tightening edging ever nearer. But the cryptocurrency exchange, which in November gave its name to the arena where the Los Angeles Lakers basketball team plays in a 20-year deal, was obviously taking the long view. Also, its prediction was contingent on two things happening: one in the “developed” world, the other in less-mature national economies. It also involved some statistical extrapolation. To wit, the main arguments for ...
Discover why HIVE, THETA and STEEM are the best media tokens you can buy on January 28, 2022
HIVE, THETA and STEEM are the best media tokens you can buy on January 28, 2022. Each token has its own utility within its ecosystem Every one of these tokens has the potential to increase in value by the end of February 2022. Hive is a decentralized information-sharing network that is built on the Delegated Proof of Stake (DPoS) protocol. Theta is a blockchain-powered network specifically built for video streaming launched in March of 2019. Steem is a community-faced blockchain designed to provide earning opportunities for customers based on their value to the network, where they can post curated content online and get paid in crypto. Should you buy Hive (HIVE)? On January 28, 2022, Hive (HIVE) had a value of $0.88. To get a better perspective as to what kind of value point this is for th...
Weekly Report: Crypto markets suffer mid-week blow as SEC bins another Bitcoin ETF proposal
The SEC rejected yet another crypto ETF proposal and punted on two others Reddit follows Twitter in introducing NFT avatar support Thailand regulators are looking to curtail the use of crypto in settling payments US financial markets watchdog is probing top crypto platforms over high-yield crypto products The cryptocurrency sector is reeling from a broad mid-week sell-off triggered by remarks from Fed Chair Jerome Powell on the US monetary policy. Bitcoin lost grip on the $37,000 level earlier today and is currently trading at $36,250. Ethereum has lost 3.15% in the last 24 hours and is swinging around $2,370. Cardano, Solana and Terra native tokens are also down on the day with double-digit losses over the last seven days. Terra’s LUNA has the biggest slump, dipping almost 35% since...
Macro trends expert Lyn Alden doesn’t see Bitcoin sinking below $20k
Alden is optimistic the flagship will stay above $20,000 even if the slump intensifies Bitcoin is trading on the green today and has cleared $37,000 Macroeconomics strategist Lyn Alden has shared her view on Bitcoin which, like other crypto assets, has suffered considerable losses in the recent market slump. In a mid-week interview with Kitco News’ David Lin, Alden noted that it is unlikely for the price of the leading cryptocurrency to sink below $20,000. Alden, who manages an eponymous equity research and investment research firm, backed his forecast, noting that the market is maturing and, as such, Bitcoin won’t see massive price fluctuations. “I’d be somewhat surprised to see a sub 20,000 print. I don’t rule it out as an option though […] Bitcoin ha...
OpenSea reverses limits on minting after community backlash
NFT marketplace OpenSea has backflipped on a controversial decision to limit the number of NFTs and collections creators can mint using its smart contract. The platform previously allowed unlimited collections and items, but changed its policy to only allow five NFT collections with 50 items per collection when using OpenSea’s collection storefront contract. The unexpected announcement from OpenSea’s Twitter Support account, posted on Jan. 27, stated the lower limits came after it had “addressed feedback received about its creator tools.” . A follow-up tweet asked the community to “share how this affects your creative flow.” NFT creators hit back, some arguing that their unfinished collections would now never be completed due to the change, with others noting that they were par...
Doge Temple creator says the Metaverse is out, the Microverse is in
According to the founder and CEO of virtual party platform Party.Space, niche “Microverse experiences” will be the future of the Metaverse. Rather than “building a big Metaverse and selling some land there,” Yurii Filipchuk says that Web3 creators should focus their efforts on “exploring the best way to interact online” with online communities. The idea is that each online community builds its own Microverse, which connect in a shared network to form a Metaverse. Party.Space launched in May 2020 with the idea to gameify video chats. They now work with 65 corporate clients to host conferences, end of year parties, team building events and workshops. One of Filipchuk’s “Microverse” creations is the “Doge Temple,” a virtual space for fans of the Doge meme to socialize. It was launched by the ...
Disgraced MP tells Parliament UK can be the ‘home’ of crypto
The former Secretary of State for Health and Social Care and current U.K. Member of Parliament (MP) Matt Hancock urged the House of Commons to make England the “home” of crypto. Hancock has served as an MP for West Suffolk since 2010 but stood down from his role as the Health Secretary in mid-2021 following controversy surrounding COVID breaches tied to an alleged extramarital affair. Which is to say his endorsement, while welcomed by the industry, may not hold as much cachet as it once did. Following up from his speech at the House of Commons on Jan. 27, Hancock emphasized the disruptive potential of crypto and fintech on Twitter, noting that: “The UK can be the home of new innovations like FinTech and Cryptocurrency. Done right we can increase transparency and lead in new world-changing ...
Apple stock jumps after CEO reveals it’s investing in the Metaverse
Apple’s stock price jumped in after hours trading after CEO Tim Cook said during the company’s Q1 2022 earnings call that he sees considerable potential in the Metaverse space. When asked on Jan. 27 during the call about Apple’s opportunities within the Metaverse, Cook responded “we see a lot of potential in this space and are investing accordingly.” “We’re always exploring new and emerging technologies and I’ve spoken at length about how it’s very interesting to us right now.” The Metaverse is an interoperable virtual universe created in part by users, offering socialization, gaming and even live concerts. Although it can be accessed with a browser, the experience is better with virtual reality (VR) or augmented reality (AR). APPL had dropped about 3% to $159.22 du...
Bloomberg strategist Mike McGlone predicts a bullish run once the correction ends
McGlone based his projection on the law of demand and supply He also posited that Bitcoin could be carving a bottom at $30k The two leading cryptocurrencies, Bitcoin and Ethereum, are poised to surge if they escape the persistent range-bound trading, according to Bloomberg’s Mike McGlone. McGlone argues that the former will get out of the current market slump on ‘bullish fundamentals.’ In a tweet shared today, he forecasted that the value of the two crypto assets will potentially rocket, citing the law of demand and supply. “What Ends #Bitcoin, #Ethereum Range Trade? Bullish Fundamentals – By the rules of economics, a market with rising demand and declining supply will go up over time, suggesting that Bitcoin may be forming a bottom again around $30,0...
