Crypto and equities markets took a bit of a tumble on Aug. 9 as traders grew a bit skittish ahead of tomorrow’s Consumer Price Index (CPI) report. The details of the print will shine a light on whether or not the Federal Reserve’s aggressive interest hikes are effective in tamping runaway inflation and it could
Decentralized autonomous organizations come in all sizes and flavors. Some can seem sweet; others turn sour. It can be fun and interesting to create one that suits your needs and satisfies your hunger for something new. We talk to the master chefs — Noam Hof of DeepDAO, Stru Delman of Aragon, and Fabien of Snapshot
Bitcoin (BTC) is facing fresh competition from altcoins this month as data shows that — technically — it is already “alt season.” Figures from CoinMarketCap and TradingView show that BTC currently makes up around 41% of the overall crypto market capitalization — its lowest since the start of 2022. Bitcoin sheds market cap prowess After
The Reserve Bank of Australia weighs in the central bank digital currencies (CBDCs) race to explore use cases for a CBDC in the country. It will collaborate with the Digital Finance Cooperative Research Centre (DFCRC) on a respective research project. As stated in an announcement from Aug. 9, the joint project of the Reserve Bank
Marathon Digital, one of the biggest mining companies in the Bitcoin ecosystem, has posted its financial results corresponding to the second quarter of the year. The company revealed that even having increased its production by 8% when compared to Q2 2021, it recorded an impairment of $127.6 million on bitcoin holdings due to the fall
Cointelegraph’s Brian Newar spoke with Alex Svanevik, the CEO of blockchain data firm Nansen at the Korea Blockchain Week (KBW) 2022 held in Seoul and discussed topics like the upcoming Ethereum (ETH) Merge and how it will affect other blockchains. According to Svanevik, the industry witnessed a spillover effect in the last bull run. He
Institutional investors are piling into Ether-based digital asset funds, which have recorded seven straight weeks of positive inflows, according to the latest CoinShares report. Said inflows reached $16.3 million last week, adding to a total of $159 million in inflows over the last seven weeks. CoinShares Head of Research James Butterfill on Aug. 8 said
Bitcoin is likely to transition from a risk-on to a risk-off asset in the second half of 2022, as the macroeconomic environment is rapidly shifting towards a recession, said Mike McGlone, senior commodity strategist at Bloomberg, in a recent interview with Cointelegraph. McGlone predicted: “ I see it transitioning to be more of a risk-off asset
The U.S. Federal Reserve (FED) recently initiated an attempt to reduce its $8.9 trillion balance sheet by halting billions of dollars worth of treasuries and bond purchases. The measures were implemented in June 2022 and coincided with the total crypto market capitalization falling below $1.2 trillion, the lowest level seen since January 2021. A similar
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Barstool Sports founder Dave Portnoy has watched his investment in SafeMoon (SAFEMOON) crash by over 94%, proving to crypto enthusiasts that he is, in fact, capable of hodling during the bear market. The stock trader and media personality took to Twitter Monday to lament his $40,000 investment in the meme coin, which has fallen to
According to crypto data aggregator Dune Analytics, on Monday, Circle, the issuer of the USD Coin stablecoin (USDC), froze over 75,000 USDC worth of funds linked to the 44 Tornado Cash addresses sanctioned by the U.S. Office of Foreign Assets Control’s (OFAC) Specially Designated Nationals and Blocked Persons (SDN) list. Tornado Cash is a decentralized
press release PRESS RELEASE. INTERNET CITY, DUBAI, Aug. 8, 2022 – LBank Exchange, a global digital asset trading platform, will list Drive Crypto (DRIVECRYPTO) on August 9, 2022. For all users of LBank Exchange, the DRIVECRYPTO/USDT trading pair will be officially available for trading at 23:00 (UTC+8) on August 9, 2022. As the first web3
The United States equities markets and the cryptocurrency markets have started the week on a strong note, indicating that traders are not nervous about buying ahead of the important Consumer Price Index (CPI) data for July, which will be released on Aug. 10. Another positive sign is that the recent recovery in Bitcoin (BTC) has
The metaverse sector is witnessing its very-own housing crisis moment, thanks to massive declines in the prices of its virtual lands in 2022, led by waning users’ interest and a crypto bear market. Land sales plunge 85% in 2022 In particular, metaverse projects built on the Ethereum blockchain, including the Sandbox and Decentraland, have witnessed
Bitcoin (BTC) looked to target new August highs at the Aug. 8 Wall Street open as upcoming United States inflation data fueled sentiment. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $25,000 next major BTC resistance Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it hit $24,246 on Bitstamp, its best since July 30.
Singapore-based crypto lending platform Hodlnaut has become the latest firm to suspend withdrawals, and deposits blaming market conditions and lack of liquidity. The crypto lending firm made an official announcement on Aug. 8, claiming that market conditions have forced it to suspend its services and that it is actively working on recovery plans. Dear users,
The fifth annual Korea Blockchain Week kicked off on Sunday, with more than 7,000 people attending Asia’s largest blockchain event of 2022. The Seoul-based event is set to run its main-stage sessions on Aug. 8 and 9, while side events such as music festivals and nonfungible token (NFT) art galleries will go through until Aug. 12.
Deliberately insufficient policy responses by successive Lebanese governments combined with the self-serving agreements by politicians are largely to blame for the country’s economic crisis, a report by the World Bank has said. The report concludes that the country needs to seriously engage “in the macro-fiscal, financial, and sector reforms the World Bank has been stressing
Bitcoin (BTC) goes into another key macro week in the United States with a welcome break to the upside. After avoiding a now-familiar breakdown around the weekly close, BTC/USD is surging higher at the time of writing on Aug. 8 to once more tackle resistance in place for two months. Can the bulls win out?