According to a recently leaked recording stemming from the bankrupt crypto lender Celsius, the business is attempting to revive the company after falling into a financial burden. Following the leak, a Southern District of New York bankruptcy judge appointed a third-party examiner to review the company’s finances. Celsius is also attempting to sell a stash
In this month’s The Bitcoin Monthly, ARK Invest focused on Ethereum and the Merge. As a side dish, they did publish some premium and review-worthy stats that we’re about to cover. Never mind the market, the Bitcoin network keeps producing block after block regardless. The stats that this whole activity produces can be critical in
Presently, there seems to be a general assumption that when the U.S. dollar value increases against other global major currencies, as measured by the DXY index, the impact on Bitcoin (BTC) is negative. Traders and influencers have been issuing alerts about this inverse correlation, and how the eventual reversal of the movement would likely push
The United States Department of Justice (DOJ) published its latest report in response to President Joe Biden’s March executive order (EO) on the development of digital assets on Sept. 16. At the same time, it announced the formation of a new Digital Asset Coordinator Network (DAC) “in furtherance of the department’s efforts to combat the
Analysis from Santiment indicates that 46.15% of Ethereum’s PoS nodes are controlled by only two addresses. Hours after the Merge, the first address has validated about 188 blocks or 28.97% of the nodes, and the second has validated 16.18%, or 105 blocks. On Twitter, the data became a controversial topic as users debated about the
Ethereum’s native token Ether (ETH) has been forming an inverse-cup-and-handle pattern since May 2021 on the weekly chart, which hints at a potential decline against Bitcoin (BTC). ETH/BTC weekly price chart featuring inverse cup-and-handle breakdown setup. Source: TradingView An inverse cup-and-handle is a bearish reversal pattern, accompanied by lower trading volume. It typically resolves after the
The Ethereum Merge came and went, leaving investors to ponder what the next trending development in the market could look like. In a Cointelegraph Twitter Space with Capriole Fund founder Charles Edwards, the analyst mentioned that excitement over the Ethereum Merge and its bullish price action had somewhat been holding up hope across the market.
Finally, the Ethereum Merge long-awaited Merge has occurred. As the most hyped historic event in the crypto space, many people projected different sentiments about the upgrade. Parts of the pre-merge reactions were negative. With the official conclusion of the Paris upgrade, popularly known as the Merge, the Ethereum network transited from PoW to PoS. This
Bitcoin (BTC) exchanges have seen huge volumes this month as price declines lead to renewed interest in trading. Data from sources including on-chain analytics firm Glassnode shows exchange inflows hitting their highest since March 2020. “The scent of volatility is in the air” On Sept. 14, over 236,000 BTC made its way to the 11
United States President Joe Biden ordered more than a dozen reports to be written when he released his Executive Order (EO) 14067 “Ensuring Responsible Development of Digital Assets.” Five had due dates wiin 90 days, and the last three were published simultaneously by the Treasury Department on Sept. 16. The reports were prepared in response
The World Bank has warned of a possible global recession in 2023. In a press release on Sept. 15, the bank said that the current pace of rate hikes and policy decisions is unlikely to be enough to bring inflation down to pre-pandemic levels. Ray Dalio, the billionaire founder of Bridgewater Associates said in a blog
Following Ethereum’s transition from proof-of-work (PoW) to proof-of-stake (PoW) roughly five different crypto assets were the main beneficiaries of Ethereum’s former hashrate. However, 24 hours after The Merge, anonymous developers launched an Ethereum PoW fork called ETHW and the fork has managed to garner 60.92 terahash per second (TH/s) of hashpower. However, ETHW has lost
Bitcoin (BTC) attempted to violate local lows on Sep. 16 as the latest cross-crypto downtrend intensified. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView No relief for BTC bulls post Merge Data from Cointelegraph Markets Pro and TradingView showed BTC/USD approaching $19,600 at the time of writing, with buyer support just avoiding a further drop. The
ETHPoW, a separatist Proof-of-Work (PoW) blockchain forked from Ethereum’s Merge, went live on Sep. 15. However, the chain suffered technical issues after the launch, which put downward pressure on its ETHW token. ETHW price down 65% amid “ChainID” fiasco The price of ETHW has dropped by 65% since ETHPoW’s launch to around $14 on Sep. 16,
Celsius Networks, a crypto lending company that had frozen the withdrawals in June and has been proceeding through Chapter 11 bankruptcy since July, asked the United States Bankruptcy Court for the Southern District of New York for permission to sell its stablecoin holdings. This should let the company generate liquidity to help “fund the Debtors’
Despite enforcing a major cryptocurrency ban one year ago, the Chinese government still protects local crypto investors as crypto is recognized as virtual property protected by the law. One of the world’s most hostile countries toward Bitcoin (BTC), China has not yet banned the possession of cryptocurrencies, according to David Lesperance, founder of Lesperance &