Crypto news
Bitcoin resistance mounts pre-FOMC as Dogecoin sets 17-month BTC high
Bitcoin (BTC) stayed motionless at the Nov. 1 Wall Street open as traders rooted for clues over a possible direction. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Hopes of a breakout remain despite BTC sell wall Data from Cointelegraph Markets Pro and TradingView showed a narrow range in place for BTC/USD overnight, the day seeing local highs of $20,681 on Bitstamp. Markets were keenly awaiting news from the United States Federal Reserve on interest rates, which is scheduled for 2:00 pm Eastern Time on Nov. 2. Until then, it i a case of “wait and see,” while on-chain monitoring resource Material Indicators noted sell-orders already increasing. “The binance order book is starting to look like a game of Tetris,” it summarized. A chart showed resistance being added just below $...
Andy Warhol would have loved (or possibly hated) NFTs
If Andy Warhol — the most famous artist of the 20th century — were alive today, he would make NFTs. The reasoning is simple: because for Warhol, business was art. So, I decided to do some digging and speak to Warhol experts to see if there is a case. But Warhol was an artist who defies easy definitions, and not everyone was keen to explore the highly speculative nature of the hypothesis. Professor Golan Levin, professor of electronic art at Carnegie Mellon University, said he couldn’t help and instead suggested that I “ask a Warhol biographer or a psychic medium.” Fair enough. So, I messaged Warhol’s renowned biographer, Blake Gopnik, author of Warhol. And then I found a Warhol psychic. Gopnik is an art critic and a regular contributor to The New York Times. He’s the author of Warhol, a de...
Will Metacade (MCADE) Rise More Than PancakeSwap (CAKE) and Polkadot (DOT)?
During the bull market run of 2020 and 2021, several tokens came onto the market that quickly saw great success. This new influx of crypto projects, alongside bored investors stuck at home during the pandemic led to some dramatic gains, particularly with projects like PancakeSwap (CAKE) and Polkadot (DOT). If you missed out on being an early investor in PancakeSwap and Polkadot, don’t panic. You might still have a second chance with a new token from Metacade (MCADE). So let’s dive in and see why investors are talking about it. What is PancakeSwap (CAKE)? PancakeSwap is a decentralised exchange (commonly known as a dex) that uses the BNB Chain. Decentralised exchanges were created as an alternative to traditional centralised exchanges, which left their users’ accounts susceptible to hacking...
Scary stats: $3B stolen in 2022 as of ‘Hacktober,’ doubling 2021
The month of October has broken all records for crypto exploits and the amount of digital loot pilfered — living up to its new moniker of “Hacktober” — according to the latest figures. On Oct. 31, blockchain security firm PeckShield tweeted some scary statistics for the month, reporting a total of $2.98 billion in stolen digital assets as of Oct. 31, 2022, which is nearly double the $1.55 billion lost in all of 2021. “Hacktober” saw around 44 exploits affecting 53 protocols, it added. Malicious actors made off with a whopping $760 million in the month, however, $100 million had been returned. #PeckShieldAlert ~44 exploits (53 protocols affected) grabbed ~$760.2M in Oct. 2022, and ~$100M already returned the exploited protocols (Total loss: $657.2M)As of Octobe...
I’m the captain now: Musk chops Twitter board, becomes sole director
Crypto-friendly billionaire Elon Musk has become the sole director of Twitter, following the dissolution of nine former board members, according to newly filed documents. In an SEC filing dated Oct. 27, the “consummation” of Musk’s takeover of Twitter came with the dissolution of Twitter’s board members, including Bret Taylor, Parag Agrawal, Omid Kordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette, Egon Durban, Fei-Fei Li and Mimi Alemayehou. “On October 27, 2022, and as a result of the consummation of the Merger, Mr. Musk became the sole director of Twitter,” the filing reads. The Tesla CEO later tweeted in a response to a Twitter user that the arrangement was “just temporary.” Previously, Musk has said the platform under his ownership will focus on free speech, eli...
Nifty News: GameStop NFT market goes live, Hong Kong’s NFT concept and more
The nonfungible token (NFT) marketplace for American video game retailer GameStop has officially gone live on Ethereum layer-2 blockchain ImmutableX, all part of the latest Web3 push from the gaming retailer. The pair first partnered in February to build the marketplace offering a $100 million grant for NFT content creators and tech developers before a public beta of the NFT marketplace debuted in July. With the Oct. 31 announcement of the full launch, GameStop’s market will allow for popular Web3 games on ImmutableX such as the role-playing game Illuvium and Gods Unchained to be accessed by users. GameStop has worked to launch a series of Web3-powered products over the past year, with a beta self-custody crypto wallet released in May that integrates with its NFT marketplace. In Marc...
Twitter monetization and free speech drove Binance’s $500M injection: CZ
Binance CEO Changpeng “CZ” Zhao has explained the reasoning behind its $500 million co-investment into Elon Musk’s Twitter, citing monetization potential, crypto community free speech, and the opportunity to eventually “help bring Twitter into Web3.” CZ’s comments came from an Oct. 31 CNBC Squawk Box segment, where he explained what drove his co-investment with Elon Musk to acquire the social media platform noting: “I believe Twitter has not been monetized well, it has not grown well, there’s many tactical problems like bots that spam my comments, there’s scammer accounts on there, it’s not been run well.” “But I think the platform has huge value in itself, and especially now with Elon at the helm, we’re very confident,” he added. Binance has not wavered...
RealFevr Raises €10 Million to Build the Ultimate Web3 GameFi Sports Ecosystem
Lisbon, Portugal, 31st October, 2022, Chainwire The Web3 Portuguese startup is boosting the Sports GameFi & NFT space through product and market innovation, including solving the speculative and utility issues in the digital collectibles industry. Since 2021, RealFevr has released its token ($FEVR), launched the first soccer video NFT marketplace, closed partnerships with organizations such as Liga Portugal, Portuguese Football Federation, Torino FC and Beach Soccer Worldwide, and signed multiple world-class athletes. RealFevr has sold out all its NFT collection pack drops to date. Packs have featured moments from players such as RealFevr Global Ambassador and shareholder Bruno Fernandes, Cristiano Ronaldo, Casillas, Ibrahimović, Di María, Ronaldinho, Cantona, Totti, and others. RealFe...
Ethereum flashes a classic bullish pattern in its Bitcoin pair, hinting at 50% upside
Ethereum’s native token, Ether (ETH), looks poised to log a major price rally versus its top rival, Bitcoin (BTC), in the days leading toward early 2023. Ether has a 61% chance of breaking out versus Bitcoin The bullish cues emerge primarily from a classic technical setup dubbed a “cup-and-handle” pattern. It forms when the price undergoes a U-shaped recovery (cup) followed by a slight downward shift (handle) — all while maintaining a common resistance level (neckline). Traditional analysts perceive the cup and handle as a bullish setup, with veteran Tom Bulkowski noting that the pattern meets its profit target 61% of all time. Theoretically, a cup-and-handle pattern’s profit target is measured by adding the distance between its neckline and lowest point to the neckline level. The Ether-to...
Singapore’s MAS says no urgent case for retail CBDC, but launches 4 fast trials of it
The Monetary Authority of Singapore (MAS) has wrapped up the first stage of its Project Orchid examination of a retail central bank digital currency (CBDC). According to the white paper released on Oct. 31, there is no “urgent case” for a retail CBDC in Singapore, but the study envisioned the infrastructure required in case a need arose. It also conceptualized a new model for digital currency — purpose-bound money — and pulled large Singaporean banks and government agencies into the research with a series of trials. Singaporean consumers do not need a retail digital dollar at present because of the high quality of services already available, the authors wrote. They indicated, however, that the most foreseeable use case may be for the benefit of the MAS rather than users: “Electro...
Stablecoins have a new name in Great Britain: Law Decoded, Oct. 24–31
The first full week under the leadership of the newly-elected Prime Minister Rishi Sunak saw a major landmark for crypto regulation in the United Kingdom. The Financial Services and Markets Bill, made public on Oct. 25, aims to enhance the U.K.’s position as a “global leader in financial services” — but what is more important is that it contains some new definitions for crypto products. The bill moves stablecoins from the category of crypto assets to digital settlement assets (DSA) — a new category marked by its potential “to develop into a widespread means of payment.” It’s yet to be seen what regulations the DSA will be subject to and if this change of status will guarantee them a green light for adoption. But, even that scope of change brings optimism. It seems we may witness unpr...
Decentralized Storage Alliance seeks to bridge the Web3 gap through education and advocacy
Decentralized storage network Filecoin has partnered with Protocol Labs and other participants within the Web3 ecosystem to launch the Decentralized Storage Alliance. According to the announcement, one of the main goals of the newly formed alliance is to help Web2 enterprises transition to Web3 through education, advocacy and best practices. The Alliance said it hopes to achieve this by bringing together diverse viewpoints from leading Web2 and Web3 industry players, such as Advanced Micro Devices, Ernst & Young and data storage solutions provider Seagate. The organization aspires to become a trusted space where different companies can collaborate around Web3 technologies like decentralized storage in order to accelerate its adoption. It also seeks to provide access to educational...
