Bitcoin (BTC) bulls took another beating on Dec. 17 as a midday onslaught dropped the price to $45,500. The price did manage a quick bounce back to $47,000 but sweeping a new daily low could be a sign that additional downside is in store. Amid the wider market downturn, several altcoins provided weary traders with
Month: December 2021
Decentralized finance (DeFi) dominated media headlines throughout 2021 and the sector, along with nonfungible tokens (NFTs), helped to initiate the mass adoption of cryptocurrencies. While high yields on staking and instant profits from flipping jpegs have proven to be very lucrative for investors, it’s important to remember that none of it would have been possible
On Dec. 14, the United States Senate Banking, Housing and Urban Affairs Committee held a hearing titled “Stablecoins: How Do They Work, How Are They Used, and What Are Their Risks?” The testimonies, both spoken and written, focused largely on the last two issues, as anxieties over Know Your Customer compliance and the U.S. dollar
The United States Securities and Exchange Commission (SEC) continues to delay decisions on Bitcoin (BTC) exchange-traded funds (ETF), issuing two fresh deadline extension notices. On Dec. 15, the SEC postponed two major Bitcoin exchange-traded offering proposals, including NYSE Arca’s “actual” Bitcoin ETF, named Bitwise Bitcoin ETP Trust, and Grayscale Bitcoin Trust’s Bitcoin ETF. The SEC
NFT marketplace Rarible officially launched its integration with proof-of-stake blockchain Tezos pm Thursday. This collaboration will allow Rarible to feature Tezos NFTs on its marketplace and support secondary sales of live Tezos projects while enabling users to mint low-fee NFTs. Rarible’s integration with Tezos marks the third layer 1 blockchain supported by the platform, alongside
This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. Limping out of 2021 Last week we thought we had hit rock bottom for Chinese exchanges, as Bitmart was on the unfortunate end
Bitcoin (BTC) may be flagging below $50,000, but its bull market is actually three years old this month. Data from Cointelegraph Markets Pro and TradingView confirms that Bitcoin bulls have at least something to celebrate as 2021 draws to a close. Three years, 2,125% upside Despite disappointing when it comes to end-of-year price expectations, BTC/USD remains
USDC, the second leading stablecoin by market cap, has been launched on the Avalanche blockchain as a native token. Previously, users wanting to get USDC in Avalanche had to bridge it via Ethereum. Now, Circle, the issuer of usd coin (USDC), will allow users to mint the tokens directly on Avalanche’s C-Chain, saving on fees
Inflation concerns and a general sense of trepidation about the future of the global economy continue to put a damper on Bitcoin and altcoin prices and currently the Crypto Fear and Greed index is solidly in the ‘fear’ zone where it has been parked since the beginning of December. Crypto Fear & Greed Index. Source:
Gita Gopinath, the chief economist of the International Monetary Fund (IMF), has called for a global policy to be put in place that will regulate cryptocurrency, instead of banning it. Pitching for a global policy, Gopinath, who will soon take charge as the deputy managing director of the IMF, argued that if countries were to
Former chairman of the U.S. Securities and Exchange Commission, or SEC, Jay Clayton, was appointed by ex-President Donald Trump to serve in 2017. In his tenure as head of the SEC, Clayton often defended Bitcoin (BTC) as a store of value. This past Wednesday, during an interview with CNBC’s Squawk Box show, Jay shared his
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sponsored Crypto traders turn to fixed-income instruments like bonds and stocks to diversify their portfolios. The cryptocurrency market is a legitimate source of debt securities that are no less reputable than their equivalents and is a substantial economic force to reckon. With interest rate derivative products, the creditors in the cryptocurrency market, mostly compromised of
Join Cointelegraph host and analyst Benton Yaun alongside resident market experts Jordan Finneseth and Marcel Pechman as they break down the latest news in the markets this week. Here’s what to expect in this week’s markets news breakdown: the price of Bitcoin (BTC) climbed to $49,000 after news that the Federal Reserve would raise interest rates and
On Thursday, conflicting reports emerged in Russia on the state of crypto regulatory affairs. First, a report by Reuters indicated that the Central Bank of Russia is seeking a ban on cryptocurrencies, citing risks to financial stability and the exploding volume of transactions. If enacted, the move would align with remarks made by Russian President
On Thursday, ConsenSys, a prominent developer of Ethereum (ETH) software, announced the launch of enterprise software ConsSys Rollups. The service, designed on the basis of zero-knowledge (ZK) proofs, is meant to protect specific transaction elements, such as account balances, sender and recipient wallet addresses, and transaction amounts to secure each user’s privacy. Zero-knowledge proofs enable
Tether, the issuer of the eponymous stablecoin, has praised the decision of Myanmar’s parallel government, The National Unity Government (NGU), to use USDT as an official currency. Myanmar’s NUG is a shadow government run by the supporters of Nobel Peace Prize winner Aung San Suu Kyi. As Cointelegraph reported on December 13, NUG announced Tether’s
The government of Thailand is preparing a new regulatory framework for cryptocurrencies like Bitcoin (BTC) in order to minimize risks and improve investor protection. The Bank of Thailand (BoT) will release a consultation paper in January that will define “red lines” for the crypto industry, governor Sethaput Suthiwartnarueput said in a Dec. 14 interview with
Bitcoin (BTC) sought cues from the United States Federal Reserve on Dec. 14 as markets waited anxiously for news on policy. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC higher lows remain safe Data from Cointelegraph Markets Pro and TradingView showed BTC/USD continuing in a range around $47,000 as Wall St. opened on Dec. 15. The
The year-long calls for a $100,000 Bitcoin (BTC) price have fallen to the wayside since the asset struck a new all-time high at $69,000, but traders are not completely dismayed. At the moment, most analysts view the current price range as an optimal accumulation zone. For the past week, markets had been a bit rocky
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