The crypto market has entered a bearish phase as prices of major cryptocurrencies have fallen to a four-year low. The current downturn in the crypto market has driven several crypto firms to go out of business, while many have made severe job cuts to remain afloat. The crypto market crisis began with the Terra debacle
Month: June 2022
Polygon (MATIC) took a break from its prevailing bearish course, posting one of sharpest rebound in the crypto market this week. Notably, MATIC’s price has risen to $0.50 this June 23, four days after hitting $0.317, its lowest level since April 2021. This amounts to roughly a 60% gain, surpassing the performances of even Bitcoin
Following yesterday’s drop in price, bitcoin stabilized during Thursday’s session, as prices hovered marginally below $21,000. Bulls are attempting to take BTC back towards this resistance level, which was broken as a result of Wednesday’s sell-off. Bitcoin BTC was trading marginally below $21,000 on Thursday, as prices slightly rebounded following declines on hump day. Following
The explosiveness and high dollar value of nonfungible tokens (NFTs) seem to either distract investors from upping their operational security to avoid exploits, or hackers are simply following the money and using very complex strategies to exploit collectors’ wallets. At least, this was the case for me way back when after I fell for a
The first short Bitcoin ETF from ProShares got off to a very slow start on its June 21 launch but gathered pace by increasing trading volume 380% on day two. On launch day June 21, the ProShares Bitcoin Short Strategy Exchange-Traded Fund (BITI) traded a lackluster 183,300 shares which ETF analyst at Bloomberg Eric Balchunas
The Chinese government has capitalized on the violent downturn in the crypto market by warning crypto investors that Bitcoin prices are “heading to zero.” The South China Morning Post reported on June 22 that Chinese national news media agency Economic Daily had issued the warning about the largest cryptocurrency by market cap to further dissuade
Instagram’s parent company Meta announced Wednesday that it will begin testing NFTs on Instagram Stories using its augmented reality platform SparkAR. CEO Mark Zuckerberg said of the announcement, “We’re expanding our test so more creators around the world can display their NFTs on Instagram.” The company also mentioned in a recent article, ”Creators and collectors will be able
On Thursday, crypto derivatives platform dYdX, which is currently built on Ethereum layer 2, announced that it would be moving to a standalone blockchain based on the Cosmos SDK and Tendermint proof-of-stake consensus for its v4 update. The firm cites the Cosmos blockchain’s decentralization and performance as reasons for being a “best fit” for building
The Ontario Securities Commission, or OSC, issued financial penalties against Bybit and Kucoin, claiming violations of securities laws and operating unregistered crypto asset trading platforms. In a Wednesday announcement, the Ontario regulator said it had obtained orders fining Kucoin more than $1.6 million and banning the exchange from participating in the province’s capital markets. In
Bitcoin (BTC) continues to face a tough battle near the psychological level of $20,000 as the bulls and the bears attempt to assert their supremacy. Trading firm QCP Capital said in their latest market circular that funding rates on derivatives markets were stable and bearish conditions were fading. Another ray of hope for the Bitcoin
Ask someone what an NFT is, and they’ll instinctively think of digital art — the CryptoPunks, Bored Apes and Ether Rocks that have sold for eye-watering sums. In some circles, nonfungible tokens have been dismissed as a vehicle for speculation, with critics lamenting that demand for such assets is fueled by greed. But this argument
Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News
Bitcoin (BTC) has been trying to break out of a descending trend for the past week and the first attempt on June 16 failed to break the $22,600 resistance. The second attempt to $21,400 on June 21 was followed by a 8% price correction. After two failed breakouts, the price currently trades below $20,000 and
Cloudflare, a significant infrastructure provider for the internet, recently experienced widespread problems, leaving many crypto exchanges down. The content delivery network (CDN) confirmed via an update posted on Tuesday that it is experiencing issues with its services and network, and a fix is currently being implemented. However, the firm has yet to provide information regarding
Ethereum-based decentralized trading platform dYdX will be deployed as an independent blockchain on the Cosmos ecosystem. The team behind the project made the announcement this morning leading to a positive reaction for its governance token, DYDX. Related Reading | Bitcoin Steady Above $20K After Drop To $17K – A Slow Climb To Green? At the time
A week after the major American crypto lending platform Celsius had to freeze the withdrawal option for its users, European Central Bank (ECB) president Christine Lagarde voiced her conviction on the necessity of tighter scrutiny over this part of the crypto market. During the testimony before the European Parliament on Monday, June 20, Christine Lagarde
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