Bitcoin’s (BTC) price has risen about 37% year-to-date and is not showing any signs of slowing down. The S&P 500 index (SPX) has also made a winning start to the year but has seen a relatively muted rally of roughly 4%. While the price of risky assets are rising, the United States dollar index (DXY),
Month: January 2023
Bitcoin’s mining industry has been relatively stable compared to the bearish price action and the tumultuous fallout of exchanges and lending companies. The network’s hashrate dipped slightly toward the end of 2022, primarily due to an unprecedented blizzard in the U.S., and has since recovered strongly to surpass its previous peak above 270 EH/s. It
The United Arab Emirates (UAE) minister of state for foreign trade says that cryptocurrency “will play a major role for UAE trade going forward.” He stressed: “The most important thing is that we ensure global governance when it comes to cryptocurrencies and crypto companies.” Crypto to Play a Major Role in the UAE United Arab
Bitcoin (BTC) rallied 11% between Jan. 20 and Jan. 21, reaching the $23,000 level and shattering bears’ expectations for a pullback to $20,000. Even more notable is the move brought demand from Asia-based retail investors, according to data from a key stablecoin premium indicator. Traders should note that the tech-heavy Nasdaq 100 index also gained
As the proposed date for the Ethereum Shanghai update draws closer, developers have created a testing environment called a “shadow fork,” according to a Jan. 23 tweet thread by Go-Ethereum developer Marius Van Der Wijden. The new testnet appears to have been created in order to test the conditions needed for Ether (ETH) staking withdrawals,
Megan Crowell, the chief people officer at crypto lending firm BlockFi, has petitioned a court to allow bonuses for “key employees” amid Chapter 11 bankruptcy proceedings. In a Jan. 23 declaration for United State Bankruptcy Court in the District of New Jersey, Crowell said that without giving certain financial incentives, BlockFi might be unable to
The Ethereum price has been propelling itself considerably ever since Bitcoin crossed the $20,000 price mark. Over the last 24 hours, ETH has slightly moved down on its chart, depicting consolidated price action. Last week helped the Ethereum price move up by 6%. The coin finally broke past its consolidation at the $1,500 price level
The XRP Ledger will see a new amendment go live today, without the explicit approval of Ripple (as always). The “CheckCashMakesTrustLine” amendment will be automatically activated on the XRP Ledger today with a majority of 27 out of 34 votes. The amendment will adjust the “checks” feature of the XRP Ledger that has been available
Vitalik Buterin, the co-founder of Ethereum, recognizes the privacy problem in the most active smart contracting platform. He is proposing a stealth address system as a possible fix. Vitalik Buterin’s idea radically differs from what Tornado Cash, a crypto mixer, and similar platforms offer. Instead of the sender having control, it would be the recipient in charge.
Xrp moved to a multi-month high on Jan. 23, as market optimism grew regarding a lawsuit between Ripple and the United States Securities and Exchange Commission (SEC). Following comments last week from Ripple CEO Brad Garlinghouse, many have bought the token in anticipation of the lawsuit ending in the coming months. Dogecoin was another notable
Amid bullish action on cryptocurrency markets, Bitcoin (BTC) mining firm Argo Blockchain has regained stock listing compliance with Nasdaq. Argo officially announced on Jan. 23 that the company regained compliance with Nasdaq’s minimum bid price rule amid the share price recovery. The Nasdaq stock market listing qualifications department has informed Argo that it successfully met
Axie Infinity (AXS) has rallied 135% month-to-date to reach approximately $14 on Jan. 23, its highest level in two months. Nonetheless, the AXS/USD pair could suffer major losses in the coming weeks owing to a flurry of negative technical and fundamental indicators. Axie Infinity price prints “gravestone” doji The AXS price formed a “gravestone doji”
The European Union Agency for Law Enforcement Cooperation, or Europol, has reported authorities took control of crypto wallets containing more than $19 million in cryptocurrency as part of enforcement actions against crypto firm Bitzlato. In a Jan. 23 announcement, Europol reported that roughly 46% of assets — 1 billion euro, or $1.09 billion at the
According to Glassnode on-chain data, Ethereum staking has reached an all-time high of over 16.16 million ETH which has been deposited into the beacon chain. The 16.16 million ETH figure consists of over 13.28% of the total Ether supply and represents $26.13 billion at current prices. As per the data, out of the 16 million
Bitcoin (BTC) starts the last week of January in fine form after sealing its highest weekly close in five months. Despite opposition, the largest cryptocurrency is holding on to its newfound strength and continues to surprise market participants. This is no mean feat — market sentiment has plenty to spook it and initiate a rethink
Cardano stake pool operators (SPO) and users have been reporting at least half of the nodes for the network briefly went offline over the weekend. According to a Jan. 22 post shared on the Telegram SPO for Input Output Global, the engineering and research fintech behind the Cardano blockchain, an anomaly caused 50% of Cardano
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