cryptocurrencies
3 reasons why Lido DAO Token could be on the verge of breaking its downtrend
Ethereum (ETH) and decentralized finance (DeFi) are undergoing a seismic shift as the transition to Eth2 and a proof-of-stake consensus mechanism is helping to increase the value proposition for the network which has historically has been plagued with scaling issues and high transaction costs. Alongside this transition has been the introduction of liquid staking, which is helping to add utility to DeFi and giving investors the option to do more with their assets than just lock them up indefinitely. Liquid staking could also help investors build more capital efficient portfolios. One protocol that has benefited from the shift toward liquid staking is Lido (LDO), a platform that allows investors to earn staking rewards on their tokens while also enabling them to put the resulting...
Are crypto and blockchain safe for kids, or should greater measures be put in place?
Crypto is going mainstream, and the world’s younger generation, in particular, is taking note. Cryptocurrency exchange Crypto.com recently predicted that crypto users worldwide could reach 1 billion by the end of 2022. Further findings show that Millennials — those between the ages of 26 and 41 — are turning to digital asset investment to build wealth. For example, a study conducted in 2021 by personal loan company Stilt found that, according to its user data, more than 94% of people who own crypto were between 18 and 40. Keeping children safe While the increased interest in cryptocurrency is notable, some are raising concerns regarding the ways those under the age of 18 are interacting with digital assets. These challenges were highlighted in UNICEF’s recent “Prospects for children in 202...
European Parliament postpones crypto bill vote over proof-of-work
The parliament of the European Union is delaying a vote on a framework aimed at regulating cryptocurrencies amid concerns over proof-of-work mining. In a Friday Twitter thread, European Parliament economics committee member Stefan Berger said the government body had canceled a vote on the Markets in Crypto Assets, or MiCA, framework scheduled to take place on Monday. Berger said parliament needed to clarify “the question of proof-of-work” in discussions with stakeholders to ensure a proper legal framework, adding that some might misinterpret the proposal as a ban on crypto. “The discussion about MiCA indicates that individual passages of the draft report can be misinterpreted and understood as a [proof-of-work] ban,” said Berger. “It would be fatal if the EU Parliament sent the wrong signa...
ECB president calls for crypto regulation in response to Russia potentially evading sanctions
Christine Lagarde, president of the European Central Bank (ECB), has called on lawmakers to approve a regulatory framework on crypto, hinting at potentially preventing Russia from getting around economic sanctions. Speaking to reporters at an informal meeting of economics and finance ministers on Friday, Lagarde said the European Central Bank would be “decisively and rigorously” implementing the sanctions on Russia imposed by European lawmakers in response to the country’s invasion of Ukraine. In response to a question on Russia potentially using crypto to evade some of these measures, the ECB president urged action on an existing proposal for a regulatory framework on digital assets. “Whenever there is a ban or prohibition or a mechanism in place to boycott or prohibit, there are always c...
Altcoin Roundup: 3 portfolio trackers NFT and DeFi investors can use to stay organized
The cryptocurrency ecosystem has seen a tremendous amount of growth over the past couple of years, as the introduction of decentralized finance (DeFi) and the popularity of nonfungible tokens (NFT) have led to an explosion of projects on more than a dozen blockchain networks. The rapidly growing ecosystem means investors have to keep track of multiple wallet addresses, making portfolio trackers a popular option for traders needing to manage a diverse multichain portfolio. Here are three portfolio-tracking decentralized applications, or DApps, crypto traders can use to help monitor their investments. Zapper Zapper supports the basic management of cryptocurrencies held on 11 different networks including Ethereum, Polygon, BNB Chain, Fantom, Avalanche and Optimism. The basic layout of t...
Crypto community rallies with Ukraine as local NFT artists’ works sell out
It appears that crypto enthusiasts worldwide are rallying in support of Ukrainians during the difficult times. According to reports, Bitcoin (BTC) donations to Come Back Alive, a non-governmental organization helping Ukraine’s military efforts, received $3 million in BTC in a single donation on Friday. Users also took to social media to ask the country’s Ministry of Defense to accept crypto donations, such as Tether (USDT). At the same time, the founder of Ukraine’s Kuna exchange created a crypto fund to assist charities in the country. Everyone! Thank you for all the support and donations! The current plan is separated into 3 parts to involve as many as possible 1) direct donations (aimed at individuals)2) NFT Auction (via telegram & Opensea) 3) Project %...
Bitcoin price spike to $39K leads traders to say ‘the panic is over for a few days’
Global financial markets and crypto markets were pummeled over the past 24-hours as the invasion of Ukraine by Russian forces sent investors scrambling and sell-offs took place across most asset classes. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) hit a low of $34,333 in the early trading hours on Feb. 24, shortly after the Ukraine incursion began, and has since climbed its way back to $38,500 after an unexpected short-squeeze may have rapped bearish investors on the knuckles. BTC/USDT 1-day chart. Source: TradingView Here’s a look at what several analysts are saying about BTC price and how the ongoing conflict could impact crypto markets in the short-term. BTC in a “great buy area” Bitcoin’s collapse on the night of Feb. 23 was not unexp...
Crypto could bypass President Biden’s ‘devastating’ sanctions on Russian banks and elites: Report
The sanctions announced by United States President Joe Biden in response to Russia’s attack on Ukraine did not include cutting the country off from payments on the SWIFT system or cryptocurrency transfers. In a Thursday announcement from the White House, Biden said the U.S. and its allies and partners would be enforcing sanctions aimed at imposing “devastating costs” on Russia due to “Putin’s war of choice against Ukraine.” The U.S. president announced that the country would sever its financial system from Russia’s largest bank, Sberbank, as well as impose “full blocking sanctions” on VTB Bank, Bank Otkritie, Sovcombank OJSC, Novikombank, and their subsidiaries. Biden also named several elite nationals who have “enriched themselves at the expense of the Russian state” as part of the ...
VOXEL, SLP and ALICE rally after protocol updates and a major exchange listing
Crypto markets are taking a beating but there are still a few standout performers even during this week’s volatility. One sector that has managed to rise above the noise are NFT-related altcoins and GameFi tokens. Top gainers in the collectible and NFT sector. Source: CoinMarketCap Data from Cointelegraph Markets Pro and CoinMarket Cap shows that three notable gainers over the past 48-hours were Voxies (VOXEL), Smooth Love Potion (SLP) and MyNeighborAlice (ALICE). Voxie Tactics launches its marketplace VOXEL is the native utility currency of Voxie Tactics, a free-to-play, 3-dimensional, role-playing game that combines the classic look of the popular tactical games of the 1990s and 2000s with modern game mechanics. Data from TradingView shows that after hitting a low of $0.90 on Feb. ...
Russia to seize retail deposits if sanctions go too far, official warns
In the event of harsh Western sanctions as Russian forces invade Ukraine, retail customers could risk losing their savings. Russians’ savings could be confiscated in response to sanctions against the country, according to Nikolai Arefiev, a member of the country’s Communist Party and vice-chairman of the Duma’s committee on economic policy. The Russian government can potentially seize about 60 trillion rubles ($750 billion) worth of people’s deposits should Western nations decide to block all of Russia’s foreign funds, Arefiev said in an interview with the local news agency News.ru on Monday. “If all the foreign funds are blocked, the government will have no other choice but to seize all the deposits of the population, or 60 trillion rubles in order to solve the situation,” the official st...
FTX CEO weighs in on Bitcoin market outlook amid Ukraine crisis
The world woke up to a “sea of red” that was not necessarily limited to the financial markets, as Russia declared war on Ukraine early Thursday. The traditional financial markets along with the crypto markets have been sliding bearishly for the past week and saw a rapid decline early on Thursday. Apart from crude oil prices, which jumped to an eight-year high above $100, the majority of stocks has lost over 5%. The Russian invasion on Thursday triggered the bears leading to a $500-billion crypto market sell-off, where the majority of the cryptocurrencies lost critical support to trade at a three-month low. The crypto market capitalization saw a 10% decline during early morning Asian trading hours, falling below the $1.5-trillion mark. Bitcoin (BTC) is considered an inflation hedge, and man...
Hedge fund report says Bitcoin price is ‘at a relatively inexpensive place’
There has been a lot of focus on the performance of the stock and cryptocurrency markets over the past year or two as the trillions of dollars that have been printed into existence since the start of the COVID pandemic have driven new all-time highs, but analysts are now increasingly sounding the alarm over warning signs coming from the debt market. Despite holding interest rates at record low levels, the cracks in the system have become more prominent as yields for U.S. Treasury Bonds “have been rising dramatically” according to markets analyst Dylan LeClair, who posted the following chart showing the rise. U.S. Treasury bond yields across duration. Source: Twitter LeClair said, “Since November yields have been rising dramatically — bond investors begun to realize that w/ inflation ...
