BTC fell to its lowest level since last July, as prices dropped below $33,000 to start the week. The selloff in cryptocurrency started last week, following the Fed’s decision to hike interest rates by 0.5%. In addition to bitcoin, ETH hit a two-month low as a result of the red wave. Bitcoin Bitcoin slipped to
Monero (XMR) has shown a surprising resilience against the Federal Reserve’s hawkish policies that pushed the prices of most of its crypto rivals — including the top dog Bitcoin (BTC) — lower last week. XMR’s price closed the previous week 2.37% higher at $217, data from Binance shows. In comparison, BTC, which typically influences the
Data from website traffic metric provider Similarweb shows that Deribit and OKX continue to attract significant traffic sources from China despite a blanket ban on crypto transactions and foreign exchanges last year. China has banned the use of cryptocurrencies more than a dozen times in the last decade, however, the one imposed in September last
Bitcoin (BTC) set a new record low price for 2022 on May 9 as crypto markets continued selling off prior to the Wall Street open. BTC price sinks under $36,700 Data from Cointelegraph Markets Pro and TradingView confirmed the firmly bearish achievement for BTC/USD, which hit $32,637 on Bitstamp. The latest instalment of a string of
The CEO and co-founder of crypto mining and investment platform Mining Capital Coin (MCC) Luiz Capuci Jr. has been indicted by the Department of Justice (DOJ) for “allegedly orchestrating a $62 million global investment fraud scheme.” The DOJ is charging Capuci with conspiracy to commit wire fraud, conspiracy to commit securities fraud, and conspiracy to
The S&P 500 and the Nasdaq have declined for five consecutive weeks, indicating that traders continue to reduce exposure to risky assets. Bitcoin’s (BTC) close correlation with United States equity markets has resulted in its price remaining under pressure. Bitcoin has extended its decline during the weekend and is now on track for its sixth
The value locked in decentralized finance (defi) protocols has lost 17.77% over the last 30 days, falling from $221.67 billion to today’s $182.27 billion. Moreover, statistics show the total value locked (TVL) across a broad range of defi protocols shed significant value during the last seven days. Defi Protocols Shed Considerable Value Decentralized finance (defi)
After nearly a three-year-long discussion about establishing a task force to oversee blockchain and crypto initiatives, the governor of Utah, Spencer Cox, signed a bill to create the Blockchain and Digital Innovation Task Force. The Utah State Legislature first saw the introduction of the house bill (H.B. 335) in early February 2022, which took nearly
You are about to read a half-fiction witty story based on Stuart Hylton’s review of “the making of Modern Britain” and my interpretation of the blockchain’s impact on today’s world. I found it fascinating how the description of the industrial age front-runner technology resembled the awe and fear of blockchain in modern times. Some quotes
There’s been a tremendous amount of hype and misinformation about nonfungible tokens (NFTs) since they appeared on the scene in 2014, particularly since the total market for them passed $24 billion. You can’t open a news feed without an article about nonfungible tokens popping up. These inevitably contain the obligatory “An NFT is a” paragraph
We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Ming Duan, the co-founder and chief operating officer of Umee, a cross-chain DeFi hub that allows decentralized interactions between
Terra (LUNA) has plunged significantly after witnessing a FUD attack on its native stablecoin TerraUSD (UST). The LUNA/USD pair dropped 20% between May 7 and May 8, hitting $61, its worst level in three months, after a whale mass-dumped $285 million worth of UST. As a result of this selloff, UST briefly lost its U.S. dollar
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One of the first punitive measures leveled against Russia in response to the military invasion of Ukraine was the implementation of economic sanctions aimed at isolating the country from the international financial system. On March 12, Russian banks lost access to the international payments and messaging network SWIFT, and private sector payment companies, such as
On May 5, Tron’s algorithmic stablecoin USDD went live and so far, the fiat-pegged token has been listed on a number of decentralized finance (defi) protocols. Two days later, the Tron DAO Reserve announced it purchased 504.6 million tron (TRX) to back the algorithmic stablecoin, as the project aims to leverage a decentralized forex reserve
Reflecting the growing interest in the non-fungible token (NFT) space among today’s investors, new research predicts that the existing $3 billion market size will reach $13.6 billion by the end of 2027. For the next five years, the key factors tied to the global NFT boom continue to factor in the growing involvement of mainstream
Bitcoin (BTC) dipping below $36,000 “smells like capitulation,” one trader says as suspicion mounts over U.S. stock markets. In a tweet on May 6, Cointelegraph contributor Michaël van de Poppe suggested that the BTC price was at least giving “serious signals.” Analyst: Stocks saw “forced liquidation” After plunging to 10-week lows in line with equities on
Bitcoin (BTC) found a new home at $36,000 into May 7 as volatility finally cooled into the weekend. Terra down at least $250 million in crunch Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling the $36,000 mark overnight after losing 12% in just 72 hours. Still near its lowest levels since late February, the
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 Fed hikes interest rates by 50 basis points in effort
The Bahamas Prime Minister Philip Davis told Cointelegraph that the region has a regulatory regime in place that will enable crypto businesses to operate within its jurisdiction. During an interview at SALT’s Crypto Bahamas conference, Davis shared that The Bahamas recently published a white paper framework that will allow crypto businesses to “grow and prosper,”