Most blockchain upgrades have an impact on price action. The Ethereum Shanghai upgrade would be no different. Ether supplies on exchanges have already started to plunge as investors choose to move their assets to self-custody. The previous Ethereum upgrade created good volatility in the market, which traders tapped into. ETH prices skyrocketed from around $1,000
Bitcoin (BTC) is leaving traders guessing as the bull market’s future depends on the last week of February. In multiple tweets on Feb. 17, popular trader and analyst Rekt Capital flagged crucial resistance battles ongoing on BTC/USD across multiple timeframes. Bitcoin price squares off with bear market downtrend Bitcoin hit new six-month highs this week
Bitcoin (BTC) climbed back above $24,000 at the Feb. 17 Wall Street open as analysis favored “consolidation and continuation” higher. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin faces key level to “break” bear trend Data from Cointelegraph Markets Pro and TradingView showed BTC/USD recovering some overnight losses after dipping to $23,369 on Bitstamp. The
The total crypto market capitalization rejected at $1.13 trillion on Feb. 16, but there was no change in the month-long ascending channel structure. More importantly, this level represents a 43% gain in 2023, which is far from the $3 trillion level achieved in November 2021. Still, the current recovery is notable. Total crypto market cap
Nishad Singh, the co-founder and former chief engineer of bankrupt crypto exchange FTX, is working on a plea deal with prosecutors, Bloomberg reported on Feb. 17. The deal, which would see the 27-year-old Singh plead guilty to charges related to FTX’s collapse, has yet to be finalized, the report said. Singh would be following in the
Coinbase CEO Brian Armstrong has called on Congress to pass clear crypto legislation, warning that the U.S. risks losing its status as a financial hub. “Crypto is open to everyone in the world and others are leading,” the executive stressed. Coinbase’s CEO on Cryptocurrency Regulation The CEO of the Nasdaq-listed cryptocurrency exchange Coinbase (Nasdaq: COIN),
Bitcoin miner CleanSpark is growing its mining capacity in the United States with the purchase of 20,000 new Antminer S19j Pro+ units for $43.6 million. The acquisition is expected to boost the company’s computing power by 37% and brings the total number of miners purchased during the bear market to 46,500 units. According to a
The upcoming Ethereum Shanghai hard fork is slated to occur in March 2023, and the upgrade will cap off the network’s move to proof-of-stake (PoS), which started during the Merge on Sept. 15, 2022. Once Shanghai is implemented, previously locked Ether (ETH) will gradually become liquid for the first time since December 2020. According to on-chain Etherscan data,
While cryptocurrencies have been quite the rage over the past couple of years, nonfungible tokens (NFTs) have risen as an alternate asset class within the cryptocurrency ecosystem. This ecosystem is revolutionizing the world of art and gaming, among a host of other industries. Serving as a digital certificate that proves a collectible’s authenticity, NFTs also
The Bank of Russia is preparing to roll out the first consumer pilot for the nation’s central bank digital currency (CBDC) on April 1, 2023. Russia’s central bank is set to soon debut the first real-world digital ruble transactions involving 13 local banks and several merchants, first deputy governor Olga Skorobogatova said. The official noted
Bitcoin fell below the $25,000 mark on Friday, as markets moved into consolidation, following recent gains. Prices fell by almost $1,700 in the last 24 hours, with the global cryptocurrency market cap down 1.89% as of writing. Ethereum also dropped, after breaking into the $1,700 level on Thursday. Bitcoin Bitcoin (BTC) fell sharply below a
A Bitcoin (BTC) price indicator has flashed green for just the fourth time ever this week in a major warning to bears. In a tweet on Feb. 16, crypto market analyst Mohit Sorout announced that the Dollar Cost Average (DCA) Indicator was now “suggesting a raging bull market.” DCA breakout last preceded 640% BTC price
The United States Securities and Exchange Commission’s (SEC’s) lawsuit against Terraform Labs and its co-founder Do Kwon could be seen as an SEC “roadmap” to taking down other stablecoins, according to a lawyer. Gabriel Shapiro, general counsel at investment firm Delphi Labs, explained to his 33,800 Twitter followers on Feb. 16 that the SEC’s arguments
Bitcoin (BTC) trended toward $24,000 at the Feb. 16 Wall Street open after fresh macroeconomic data from the United States overshot estimates. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Hot U.S. PPI data “rattles” markets Data from Cointelegraph Markets Pro and TradingView showed BTC/USD retracing some of its latest gains on the day, trading at around
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Bitcoin (BTC) price rallied over 12% on Feb. 15, marking the highest daily close in more than six months. Curiously, the movement happened while gold reached a 40-day low at $1,826, indicating some potential shift in investors’ risk assessment for cryptocurrencies. A stronger-than-expected U.S. inflation report on Feb. 14 showed consumer prices rising 5.6% year-on-year,
Cryptocurrency investors funneled as much as $4.6 billion into crypto tokens suspected to be part of “pump and dump” schemes in 2022. A Feb. 16 report from blockchain analytics firm Chainalysis “analyzed all tokens launched” in 2022 on the BNB and Ethereum blockchains and found just over 9,900 bore characteristics of a “pump and dump”
Only days after reports of United States regulatory scrutiny of Paxos and Binance USD (BUSD), cryptocurrency exchange Binance has minted nearly $50 million worth of TrueUSD (TUSD). The transaction took place on Feb. 16, according to data from Etherscan, and also comes two days after Binance CEO Chanpeng ‘CZ’ Zhao said in a Feb. 14
Crypto scam revenue was slashed by almost half in 2022 due mainly to falling crypto asset prices, but two scam types managed to stay immune. Crypto scam revenue in 2022, which includes investment scams, NFT scams and romance scams, among others, amounted to $5.9 billion in the year — down 46% from 2021. The data