On Sept. 7, in a historic first, the small Central American nation of El Salvador adopted Bitcoin as legal tender. The true significance of this day for how people all around the world exchange value and what meaning they ascribe to the concept of money will take quite some time to reify and be fully
Month: September 2021
Americans are still very concerned about inflation as the latest Survey of Consumer Expectations (SCE) report from August indicates that U.S. consumers expect inflation to be 5.2% a year from now. The SCE response data hasn’t been this high since 2013, and it’s increased since the month prior, when U.S. residents expected 4.9% at the
Eurex, a derivatives exchange owned by German stock market operator Deutsche Börse, has debuted cryptocurrency derivatives trading with ETC Group’s Bitcoin (BTC) exchange-traded note (ETN) futures product. Eurex officially announced Monday the launch of the Bitcoin ETN Futures contract developed by London-based crypto derivatives issuer ETC Group. “As the first step in our portfolio of
Bitcoin (BTC) preserved a higher low overnight on Sept. 14 in what one analyst believes may lead to sustained recovery. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst: Time for “inevitable” Bitcoin supply shock Data from Cointelegraph Markets Pro and TradingView showed BTC/USD rising to rechallenge $46,000 Tuesday. The pair had been drifting south before
Bitcoin (BTC) fell further at the start of the new week as a lack of bullish momentum sparked new lows near $44,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin threatens loss of $44,000 “demand zone” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD testing levels that analysts demand should stay as support. After
A recent price boom in the Tezos (XTZ) market risks exhaustion as it triggers a classic bearish pattern. Dubbed as Ascending Broadening Wedge, the pattern develops when the price oscillates between two upward but diverging trendlines. According to its creator Thomas Bulkowski, these Wedges tell less about buying exhaustion and more about sellers’ ambition to
The United States Securities and Exchange Commission (SEC) has charged three of Chinese billionaire Guo Wengui’s companies over an initial coin offering (ICO) and initial public offering (IPO) that fetched around $487 million combined. The infamous Wengui, also known as Miles Kwok or Miles Guo, is an exiled Chinese businessman who currently resides in New
Bitcoin (BTC) price is facing an intense period of volatility as the price moved from a $52,950 top on Sep. 7 to a $42,800 low just two hours later. More recently, the $45,000 support was held for a couple of days despite being heavily tested, and this triggered a $3,400 up-and-down swing on Sep. 13.
DBS Group Holdings, the largest bank in Singapore and Southeast Asia, says its crypto business is “growing very rapidly.” The bank’s digital asset trading platform expects to double the number of members by year-end. Singapore’s DBS Expects Substantial Growth in Crypto Business DBS’s senior executives said in an interview, published by Reuters Monday, that the
Nonfungible tokens (NFT) and play-to-earn gaming are two of the hottest trends in the crypto sector because each presents new avenues for attracting users and the unique character of each niche allows participants to generate wealth rather than having to spend money to become a part of the community. Gala Games, a blockchain-gaming-focused project that
Computer scientist turned generative artist Tyler Hobbs writes code artistically, which then creates visual art that has sold for millions. Along with 998 siblings, Fidenza #313 was minted for 0.17 ETH on June 11th, after which it was immediately sold for 0.58 ETH. Just over 10 weeks later, the NFT nicknamed “Tulip” sold for 1,000
Bitcoin’s (BTC) failure to make a strong recovery in the past few days has resulted in profit-booking in most major altcoins, threatening to pull the total crypto market capitalization back below $2 trillion. The U.S. equity markets witnessed profit-booking and the S&P 500 dropped by 1.69% last week, suggesting the development of a risk-off sentiment.
Too much is happening in the realm of crypto policy and regulation to leave the biggest developments of each week without a roundup and at least some conceptual reflection. Starting today, we are getting back to decoding crypto law and everything around it that is worth decoding. Who’s next to follow El Salvador? Eyeballs galore
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Amid massive growth of the stablecoin market, the United States Treasury Department has reportedly discussed potential regulation for private stablecoins. The Treasury conducted several meetings last week to examine the risks of stablecoins for users, markets, or the financial system, as well as learn about their benefits and consider potential regulation, Reuters reported Sept 10.
Nonfungible tokens (NFT) have enjoyed quick adoption across the entertainment, media and sports space as the biggest brands, companies and individuals look to gain first-mover advantage in creating their own digital collectibles. These have come in myriad forms, and much like blockchain technology was touted to be pliable to any industry’s needs and problems, the
The regulatory status of cryptocurrency mining remains somewhat undetermined in Ukraine, even after the recent adoption of the law “On Virtual Assets.” However, albeit unregulated, the minting of digital coins isn’t prohibited either, according to a leading advisor on crypto matters at the Ukrainian parliament. Amendments to Ukraine’s Tax Law to Regulate Accounting for Crypto
The government of El Salvador will reportedly exempt investors from paying a capital gains tax and an income tax on Bitcoin (BTC), according to a presidential legal counsel. Javier Argueta, a legal adviser to President Nayib Bukele, is looking to encourage foreign investment through major tax breaks on Bitcoin, Agence France-Presse reported Sept. 10. “If
On Aug. 12, Cardano tweeted that the upgrade had been completed successfully at epoch 290, facilitating the creation and execution of smart contracts on the public blockchain for the first time. Despite celebrating the milestone, Cardano notes that it is still “early days for the project,” asserting that now is when “the mission truly begins”
Protocol and community development initiatives have become the latest trend in the cryptocurrency market after a number of projects have launched multi-million dollar funds aimed at enticing builders and investors to make the cross-chain migration into the layer-2 ecosystem. The latest project to capitalize on this trend is Harmony (ONE), a blockchain protocol that boasts
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