Bitcoin (BTC) saw instant volatility on Nov. 2 as the United States Federal Reserve enacted a fourth consecutive 0.75% interest rate hike. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Fed hints more hikes to come Data from Cointelegraph Markets Pro and TradingView showed BTC/USD initially dropping to $20,200 before momentarily rebounding to $20,800. The Fed
Month: November 2022
The legal battle between the SEC and Ripple XRP still stands, and the rulings have not appeared in favor of the watchdog’s claims. However, after much resistance, the SEC finally released the controversial Hinman documents to Ripple, marking a breakthrough for the defendants. However, the commission went on to file legal memos against Ripple. The
The companies behind the Cosmos Purpose Ethereum Access ETF, Cosmos Purpose Bitcoin Access ETF, and Cosmos Global Digital Miners Access ETF filed a request to revoke their quotations on Cboe Australia, according to letters disclosed on Nov. 2. The decision to revoke the quotes reflects the crypto winter’s impact on demand for crypto assets, not
The Swiss Financial Market Supervisory Authority, or FINMA, has announced it will be extending an anti-money laundering ordinance which requires identity checks for reporting certain crypto transactions. In a Nov. 2 notice, the Switzerland financial regulator said it would enforce a threshold of 1,000 Swiss francs — roughly $997 at the time of publication —
The U.S. Federal Reserve introduced another jumbo rate hike on Wednesday, Nov. 2, 2022, by hiking the federal funds rate (FFR) by 75 basis points (bps). The American central bank said on Wednesday that the hike aims to curb inflation and the Fed says “recent indicators point to modest growth in spending and production.” U.S.
Bitcoin (BTC) and the rest of the crypto market have been in a bear market for almost a year. The top cryptocurrency has seen its market valuation plummet by more than $900 billion in the said period, with macro fundamentals suggesting more pain ahead. Another bear cycle produces more BTC hodlers But the duration of
With the “Merge” and the accompanying change to proof of stake, the Ethereum blockchain received arguably the most crucial and largest upgrade of all time on September 15. With “Shanghai”, however, the next upgrade is already just around the corner. After a month-long break, Ethereum developers met last Friday for their 148th All Core Developers
Over the weekend, thousands of Bitcoiners and crypto enthusiasts descended on the small, sleepy Swiss town of Lugano. More specifically, they piled onto a McDonald’s restaurant. Perched on Lake Lugano, McDonald’s Lugano received countless visits from Bitcoiners keen to trade satoshis (the smallest denomination of Bitcoin) for Big Macs, McFlurrys and coffee. But why were
Chinese crypto exchange Huobi, which recently has had to disavow the rumors about massive layoffs inside the company, unveiled the plans to move its headquarters to one of the jurisdictions in the Caribbean, with the Dominican Republic being the first candidate. In the report from Nov. 1, citing one of the board members, the FT
The largest euro-backed stablecoin in the crypto ecosystem is now available on Ripple’s XRP Ledger (XRPL). According to the STASIS team, the integration on the XRPL, which began in February, was completed yesterday. EURS is the leading Euro stablecoin and ranks among the top 10 stablecoins worldwide with tens of thousands of users. Along with
Surging Bitcoin (BTC) network hash rates are causing problems for mining companies but might be rolling out the red carpet for energy giants. The Bitcoin hash rate, the amount of computing power given to the blockchain through mining, has reached another record peak. According to Blockchain.com, the metric hit an all-time high of 267 exahashes
Stablecoin issuers Circle and Paxos have each received approvals for their respective licenses from the Monetary Authority of Singapore (MAS), the city-state’s central bank. Circle received in-principle approval for a Major Payments Institution License allowing it to issue cryptocurrencies and facilitate domestic and cross-border payments while Paxos received its license to offer digital payment token
While Bitcoin (BTC) price support may be psychological for some traders, the statistics behind BTC remaining over $20,000 for a week are strong indicators of price support or, in other words, a new bear market floor. Multiple Bitcoin data points might be able to establish a $20,000 support level. Last week, Bitcoin reached a high
Cryptocurrency exchange Coinbase has filed an amicus brief in support of Ripple Labs in the U.S. Securities and Exchange Commission (SEC) lawsuit over xrp. Coinbase’s support is seen as a significant step in the case given that the crypto exchange was among the first trading platforms to delist xrp following the SEC lawsuit. Coinbase Supports
Pick n Pay, one of South Africa’s largest supermarket chains, is set to allow its customers to pay for items in all its stores using Bitcoin. According to South African-based tech news outlet Tech Central, Pick N Pay is planning to roll out its cryptocurrency payments service to its stores nationwide in the coming months,
Novice traders are usually drawn to futures and options markets due to the promise of high returns. These traders watch influencers post incredible gains, and at the same time, the multiple advertisements from derivatives exchanges that offer 100x leverage are at times irresistible for most. Although traders can effectively increase gains with recurring derivatives contracts,