Ethereum (ETH) has fallen below $1,000 for the first time in more than a year as the broader crypto market continues to slide south with no quick remedy in sight, or at least not yet. Ether (ETH) was one of the cryptocurrencies that performed particularly poorly, falling 7.32 percent over the past day to follow
Month: June 2022
Like clockwork, the onset of a crypto bear market has brought out the “Bitcoin is dead” crowd who gleefully proclaim the end of the largest cryptocurrency by market capitalization. If #Bitcoin can collapse by 70% from $69,000 to under $21,000, it can just as easily fall another 70% down to $6,000. Given the excessive leverage in
The Russian government continues establishing links with major players in the cryptocurrency mining industry despite staying skeptical about legalizing cryptocurrency trading and payments. Russia’s state-owned gas giant Gazprom Neft has entered into a partnership with BitRiver, the largest crypto mining colocation services supplier in Russia providing hosting services for major crypto mining operations. Gazprom will provide
As a difficult proposition for novice traders, a bear trap can be recognized by using charting tools available on most trading platforms and demands caution to be exercised. In most cases, identifying a bear trap requires the use of trading indicators and technical analysis tools such as RSI, Fibonacci levels, and volume indicators, and they
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 Binance ends support for anonymous Litecoin transactions Binance has decided
The Federal Reserve’s board of governors pointed to stablecoins as a potential risk to financial stability amid a volatile crypto market. In its Monetary Policy Report released on Friday, the board of governors of the Federal Reserve System said “the collapse in the value of certain stablecoins” — likely referring to TerraUSD (UST) becoming unpegged
An iceberg trade is most often executed by large institutional investors. Iceberg orders, also known as reverse orders, are mostly used by market makers, which is another word for an individual or firm who is providing offers and bids. When it comes to such big crypto transactions, we mostly talk about institutional crypto investors. They
Billionaire crypto investor and owner of the Dallas Mavericks Mark Cuban says the current market downturn reminds him of a well-known adage uttered by Warren Buffett. Cuban sees a parallel between the rise and fall of crypto markets and projects, and the 91-year-old ‘Oracle of Omaha’s aphorism that: “Only when the tide goes out do
Russian crypto mining operator Bitriver will use electricity generated from associated gas provided by Gazprom Neft to mint digital coins. As part of a new agreement, the mining company will in return develop the digital infrastructure at the oil producer’s wells in Russia. Crypto Mining Operator Bitriver to Cooperate With Russian Oil Giant Gazprom Neft
The price of Ethereum’s native token, Ether (ETH), careened below $1,000 on June 18 as the ongoing sell-off in the crypto market continued despite the weekend. Ether reached $975, its lowest level since January 2021, losing 80% of its value from its record high in November 2021. The decline appeared amid concerns about the Federal
The cryptocurrency market is still stunned by last week’s precipitous decline. In 10 days, Ether shed around 45 percent of its value. On the four-day chart, the Ethereum (ETH) price has now returned to the historical RSI low recorded in 2018 when the cryptocurrency traded at $81. On Saturday, ETH values fell below crucial levels
After Norway and Liechtenstein, Ukraine became the third country outside the European Union (EU) to join the European Blockchain Partnership (EBP), an initiative derived by 27 member states to deliver cross-border public services. The Ministry of Digital Transformation of Ukraine announced the country’s move to join the EBP as an observer on June 17. With
Bitcoin (BTC) achieved a bear market first on June 18 as BTC price action gave up $20,000 support. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price crosses under 2017 all-time high Data from Cointelegraph Markets Pro and TradingView confirmed BTC/USD sliding under $20,000 for the first time since December 2020, reaching press-time lows of $19,066.
Tether (USDT), the biggest stablecoin and the third largest digital currency by market capitalization, continues losing its market value amid the current market downturn. On June 16, USDT’s market cap dropped below $70 billion for the first time since October 2021. The drop followed a cascade of repeated declines shortly after the USDT market value
Since 2020, miners on the Ethereum blockchain have extracted around $600 million from other investors by miners, according to a new report by the Bank for International Settlements (BIS) focusing on common malpractice in the crypto mining industry. The June 16 bulletin, “Miners as intermediaries: extractable value and market manipulation in crypto and DeFi,” suggests
Magic Internet Money (MIM), a US dollar-pegged stablecoin of the Abracadabra ecosystem, joins the growing list of tokens losing their $1 value amid an untimely crypto winter. The sudden de-pegging of the MIM token commenced roughly on June 17, 7:40 pm ET, which saw the token’s price drop to $0.926 in just three hours. Terra’s
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