Time4VPS - VPS hosting in Europe

Bitcoin price hits 7-day low as US warns of ‘highly elevated’ CPI data

Bitcoin (BTC) carried through threats of new local lows on July 12 as the White House warned of “highly elevated” inflation.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView White House warns ahead of “decisive day”

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD approaching $19,500 prior to the Wall Street open, down over . . . → Read More: Bitcoin price hits 7-day low as US warns of ‘highly elevated’ CPI data

Lido DAO price moves higher as the Ethereum Merge moves a step closer to completion

The upcoming Ethereum (ETH) Merge is one of the most talked-about developments in the cryptocurrency ecosystem as the world’s second-largest cryptocurrency by market cap undergoes the difficult transition from proof-of-work (PoW) to proof-of-stake (PoS). 

One protocol whose fate is largely tied to the successful completion of the Merge is Lido DAO (LDO), a liquid . . . → Read More: Lido DAO price moves higher as the Ethereum Merge moves a step closer to completion

Price analysis 7/11: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, AVAX

The United States dollar index (DXY) resumed its strong uptrend on July 11, indicating that investors are preparing for the July 13 CPI report to be hotter than expected. A survey of economists by Bloomberg estimates that in June consumer prices surged to 8.8%, a four-decade high.

Arthur Hayes, the former CEO of derivatives trading platform . . . → Read More: Price analysis 7/11: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, AVAX

Despite ‘worst bear market ever,’ Bitcoin has become more resilient, Glassnode analyst says

While the current bear market may be the worst on record, on-chain metrics signal that the Bitcoin (BTC) network is becoming increasingly resilient, said Glassnode analyst James Check during a recent interview with Cointelegraph. 

In particular, Check refers to the amount of Bitcoin holders who don’t sell even in extreme market conditions, which . . . → Read More: Despite ‘worst bear market ever,’ Bitcoin has become more resilient, Glassnode analyst says

Bitcoin risks new lows as $20K looms amid dollar euro parity

Bitcoin (BTC) headed for $20,000 after the July 11 Wall Street open amid fresh warnings to “prepare for new lows.”

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $20,300 eyed as next support zone to hold

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD failing to recover losses that had immediately followed the weekly . . . → Read More: Bitcoin risks new lows as $20K looms amid dollar euro parity

PoS gives Ethereum the economic structure to overtake Bitcoin, says DeFi researcher

As Ethereum shifts into proof-of-stake (PoS), a decentralized finance (DeFi) researcher has argued that the platform can overtake Bitcoin’s (BTC) throne as the top dog in crypto. 

In a Twitter thread, researcher Vivek Raman highlighted that the upcoming Ethereum Merge could create a better economic structure for the smart contract platform. According to . . . → Read More: PoS gives Ethereum the economic structure to overtake Bitcoin, says DeFi researcher

Crypto needs regulation to mitigate risks, says Bank of England exec

Bank of England (BoE) deputy governor for financial stability, Jon Cunliffe, recommended forming a set of regulations — similar to conventional financial systems — to tackle risks within the cryptocurrenc ecosystem while improving investor confidence. 

Speaking at a press conference, Cunliffe highlighted the recent downfall of the Terra ecosystem, pointing out that cryptocurrencies that . . . → Read More: Crypto needs regulation to mitigate risks, says Bank of England exec

Ethereum’s failure to close above $1.3K prompts analysts to predict more downside

The Ethereum network moved one step closer to completing its transition to proof-of-stake (PoS) this week after the successful completion of its second-to-last major Merge trial on the Sepolia public test network.

Data from Cointelegraph Markets Pro and TradingView shows that following the Sepolia Merge on July 6, the price of Ether (ETH) rallied to a . . . → Read More: Ethereum’s failure to close above $1.3K prompts analysts to predict more downside

Bitcoin eyes best weekly gains in 3 months as BTC price slips below $21K

Bitcoin (BTC) hit three-day lows into the July 10 weekly close as $21,000 gave way as short-term support.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader eyes bullish divergences across markets

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD giving up some of its gains from earlier in the week while still looking . . . → Read More: Bitcoin eyes best weekly gains in 3 months as BTC price slips below $21K

6 Questions for Rene Reinsberg of Celo

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  Rene Reinsberg, a co-founder of Celo, an open platform that makes financial tools accessible to anyone with . . . → Read More: 6 Questions for Rene Reinsberg of Celo

Your crypto wallet is the key to your Web3 identity

Digital identity has been a fraught subject since the earliest days of the internet. Web2 bridged the gap between people’s offline lives, online identities, and creative and consumer habits, which has given way to a thoroughly integrated internet experience designed to be as personalized and targeted as possible. As a new phase of virtual . . . → Read More: Your crypto wallet is the key to your Web3 identity

BTC bull Michael Saylor: Ethereum is ‘obviously’ a security

MicroStrategy CEO and Bitcoin (BTC) bull Michael Saylor said that Ethereum (ETH) is ‘obviously’ a security as he doubled down on labeling BTC as the only commodity in the crypto sector.

In an interview with Altcoin Daily, Saylor was questioned on his take regarding the classification of both BTC and ETH as commodities by . . . → Read More: BTC bull Michael Saylor: Ethereum is ‘obviously’ a security

US dominates crypto ATMs installations and BTC hash rate worldwide

Despite the myriads of state and federal regulatory hurdles faced by crypto businesses in the region, the United States plays a major role in preserving the Bitcoin (BTC) and crypto ecosystem. With China moving out of the picture following a permaban on crypto, the United States maintains the top position in terms of hash . . . → Read More: US dominates crypto ATMs installations and BTC hash rate worldwide

Crypto, like railways, Part 2: Blockchain as the new internet planner

In my latest article “Crypto, like railways, is among the world’s top innovations of the millennium,” I compare the blockchain revolution to the railway boom. If we apply this analogy further, what’s going to happen next?

Stuart Hylton in his book What the Railways Did for Us: The Making of Modern Britain cites this . . . → Read More: Crypto, like railways, Part 2: Blockchain as the new internet planner

Bitcoin tourists exit the market, Peter Schiff’s bank closes down and Voyager to restructure: Hodler’s Digest, July 3-9

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 Peter Schiff’s bank closure strengthens Bitcoin case for financial . . . → Read More: Bitcoin tourists exit the market, Peter Schiff’s bank closes down and Voyager to restructure: Hodler’s Digest, July 3-9

Not all investments lose value equally: A recovery period for digital assets

When investing in financial markets, people often underestimate the possibility that, over a period of time, the investment may lose its value, and it will take time to recover temporary losses. The deeper the loss becomes, the more energy required to recover the losses increases out of proportion. If I invest $100 and lose . . . → Read More: Not all investments lose value equally: A recovery period for digital assets

NFTs become physical experiences as brands offer in-store minting

Nonfungible tokens (NFTs) have taken the world by storm over the last year. Digital collectibles that were characterized solely as CryptoKitties in 2017 have since evolved into famous pieces of art, digitized music, high-end fashion for the Metaverse and a way for communities to connect with others across the globe. 

Even with the current . . . → Read More: NFTs become physical experiences as brands offer in-store minting

Bitcoin ‘cheap’ at $20K as BTC price to wallet ratio mimics 2013

Bitcoin (BTC) has not been this good value since it cost $1,130, one analyst argues as BTC offers a “compelling” risk/reward ratio.

In a Twitter thread on July 7, Jurrien Timmer, director of global macro at asset manager Fidelity Investments, simply described $20,000 Bitcoin as “cheap.”

Timmer: “In other words, Bitcoin is cheap”

While . . . → Read More: Bitcoin ‘cheap’ at $20K as BTC price to wallet ratio mimics 2013

Global GPU price drops to compensate for falling Bitcoin mining revenue

As a direct result of falling Bitcoin (BTC) prices, total revenue earned by miners in transaction fees and mining rewards dropped to its one-year lows at nearly $15 million on July 4. However, a concurrent fall in graphic cards or GPU prices is set to help miners offset their operational costs amid an ongoing . . . → Read More: Global GPU price drops to compensate for falling Bitcoin mining revenue

What the dot-com bust can teach us about the crypto crash

The economist Benjamin Graham, known to some as the father of value investing, once compared the market to a voting machine in the short run and a weighing machine in the long run. While Graham likely would have been skeptical at best about crypto and its built-in volatility had he lived to see it, . . . → Read More: What the dot-com bust can teach us about the crypto crash

Deconstructing sidechains — The future of Web3 scalability

By far, the innovation with the most impact in the Web3 world this year is the sidechain. The highest-volume blockchain providers in the world — Binance, Polygon, Ankr and Avalanche — have all recently released sidechain functionality. They are investing hundreds of millions into these new implementations — and with good reason.

Sidechains are . . . → Read More: Deconstructing sidechains — The future of Web3 scalability

2 key Ethereum derivatives metrics suggest that $880 was ETH’s bottom

Ether (ETH) price is up 16% since July 1 and has outperformed Bitcoin (BTC) in the last 7 days. The move could be partially driven by investors clinging to their hopes that the Ethereum network transition to proof-of-stake (PoS) consensus will be a bullish catalyst.

The next steps for this smart contract involve “the . . . → Read More: 2 key Ethereum derivatives metrics suggest that $880 was ETH’s bottom

5 events that could put an end to the current crypto bear market

Much to the chagrin of cryptocurrency investors across the ecosystem, the bear market has officially set in and brought with it devastating price collapses that have left relatively few unscathed. 

As the popular topic of conversation now centers on bearish predictions of how low Bitcoin (BTC) will go and how long this iteration . . . → Read More: 5 events that could put an end to the current crypto bear market

Price analysis 7/8: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, AVAX

Bitcoin (BTC) rallied to the 200-week moving average on July 8, a level that could act as a battleground between the bulls and the bears. Several analysts are watching this level because a break and close above it could be the first sign that the bear market may be ending.

Bloomberg senior commodity strategist Mike McGlone . . . → Read More: Price analysis 7/8: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, AVAX

The risks and benefits of VCs for crypto communities

Traditional venture capital funds drive valuations through multiple funding rounds. Startups aim for initial public offerings or other exits. Then the sharemarket decides upon a more realistic valuation. 

But in cryptoland, tokens introduce market capitalization while a company is being built.

This means there are a lot of competing interests and agendas. Token sales . . . → Read More: The risks and benefits of VCs for crypto communities

This ‘biblical’ Bitcoin pattern suggests BTC price can rise 30% by October

Bitcoin (BTC) may be down 70% from its November 2021 peak, but its rebound move in the past three weeks is raising the possibility of more upside in Q3.

Bitcoin eyes 30% price rally

At the core of the bullish argument is a technical pattern called the “Adam-and-Eve double bottom.”

Notably, the structure . . . → Read More: This ‘biblical’ Bitcoin pattern suggests BTC price can rise 30% by October

Mind games: Bitcoin education at an escape room in Lebanon

Bitcoin (BTC) sets people free. At least, that was the story at Lebanon’s first Bitcoin-themed escape room in Beirut. 

Lebanese Bitcoiners from the group Bitcoin du Liban took on the latest Bitcoin education challenge — Bitcoin Escape the System. The best part? The team of four snuck out of the escape room in the fastest . . . → Read More: Mind games: Bitcoin education at an escape room in Lebanon

Bitcoin price builds best weekly candle since March despite new DXY peak

Bitcoin (BTC) is on track for its biggest weekly gains since March, but not everyone is convinced that good times will last.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Crypto sentiment highest since early May

Data from Cointelegraph Markets Pro and TradingView shows that at the time of writing, BTC/USD is up over $2,000 . . . → Read More: Bitcoin price builds best weekly candle since March despite new DXY peak

Reddit announces new blockchain-backed ‘Collectible Avatars’

Content aggregation, ranking and discussion website Reddit announced a new blockchain-backed avatar system on Thursday. Though no official date was revealed, the company suggested that the avatars will be available to the general public in the next few weeks. For now, Reddit is providing first-look early access to a limited number of people . . . → Read More: Reddit announces new blockchain-backed ‘Collectible Avatars’

Survey shows 55% of crypto investors chose to HODL as Bitcoin and altcoin prices collapsed

Crypto and equities markets are down, and aside from the positive news of Celsius repaying all of their debt and avoiding a massive liquidation, there are few on-the-spot reasons that are prompting investors to buy Bitcoin (BTC) and altcoins.

The collapse of numerous decentralized finance (DeFi) protocols, crypto investment funds and BTC trading 60% below its . . . → Read More: Survey shows 55% of crypto investors chose to HODL as Bitcoin and altcoin prices collapsed

Another miner cashes in: Argo Blockchain reports selling 637 BTC to pay debts

Argo Blockchain has joined crypto mining firms including Bitfarms, Core Scientific, and Riot Blockchain in selling part of its Bitcoin holdings.

In a Thursday blog post, Argo said it sold 637 Bitcoin (BTC) in June for an average price of $24,500 — roughly $15.6 million. The company planned to use the funds to . . . → Read More: Another miner cashes in: Argo Blockchain reports selling 637 BTC to pay debts

Bitcoin faces Mt. Gox ‘black swan’ as trustee prepares to unlock 150K BTC

Bitcoin (BTC) faces a new selling threat in the near future as users of defunct exchange Mt. Gox prepare to get their BTC back.

In fresh correspondence dated July 6, attorney Nobuaki Kobayashi, appointed trustee in the Mt. Gox rehabilitation process, confirmed that he was “preparing to make repayments” to account holders.

Cash, Bitcoin . . . → Read More: Bitcoin faces Mt. Gox ‘black swan’ as trustee prepares to unlock 150K BTC

What is SolScan and how to use it?

When you are looking for information about certain transactions or tokens on the Solana blockchain, SolScan is the tool to use for this purpose. This tool is trusted by many venture capitalists, such as Solana Ventures and Alameda Research. In addition, there are over 2 million monthly users, totaling over 180 million data requests.

. . . → Read More: What is SolScan and how to use it?

The Moscow Exchange is a good base for crypto trading, Russian lawmaker says

Russia continues sending mixed messages about the legal status of cryptocurrency, with a parliament official urging the launch of crypto trading on the country’s largest stock exchange.

The Moscow Exchange (MOEX) is the best match for hosting a regulated crypto exchange in Russia, according to Anatoly Aksakov, head of the Russian Banking Association . . . → Read More: The Moscow Exchange is a good base for crypto trading, Russian lawmaker says

Bitcoin price clings to $20K as Bollinger Bands close in for volatility

Bitcoin (BTC) said “no” to volatility for a third day on July 7 as Wall Street trading began with little change in mood.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Next move “likely sets direction going forward”

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it fluctuated just north of $20,000, retaining . . . → Read More: Bitcoin price clings to $20K as Bollinger Bands close in for volatility

Playing it louder: Companies bring music licensing to the blockchain

While critics use the bear market as an opportunity to pounce on crypto and belittle its value, some projects take this chance to develop and launch industry-disrupting platforms on the blockchain. 

In July, firms launched or revealed their intentions to construct blockchain-based music licensing platforms that aim to change the way songs are . . . → Read More: Playing it louder: Companies bring music licensing to the blockchain

Powers On… Summer musings after two particularly bad months in cryptoland

This column’s goal has never been to provide investment advice on cryptocurrencies or other digital assets, nor has it been to provide individualized legal advice. It has mostly been about my desire to freely set forth in writing my thoughts on the state of the crypto market and the legal affairs surrounding it.

Powers . . . → Read More: Powers On… Summer musings after two particularly bad months in cryptoland

Ethereum 2.0 stakers face a 36.5% larger loss than ETH spot investors — Report

Ethereum investors who staked millions of dollars worth of Ether (ETH) tokens to become validators on its soon-to-launch proof-of-stake (PoS) network are now facing heavy paper losses.

Ether spot traders outperform stakers by 36.5%

In detail, investors have locked a little over 13 million ETH into the so-called Ethereum 2.0 smart contract since it . . . → Read More: Ethereum 2.0 stakers face a 36.5% larger loss than ETH spot investors — Report

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

Ethereum has now completed its second-to-last major Merge trial on the public test network Sepolia, paving the way for its transition to the proof-of-stake (PoS) consensus mechanism.

While it’s been judged mostly a success, it was not incident free.

The final trial of the Merge is set to occur on the Goerli network . . . → Read More: Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

Price analysis 7/6: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, LEO

Bitcoin (BTC) is attempting to rise above the psychological level of $20,000 on July 6, a sign that bulls are trying to stall the brutal bear market. The retail traders are making the most of the current fall and are on a buying spree. Proof of this comes from Glassnode data, showing that wallets . . . → Read More: Price analysis 7/6: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, LEO

World’s first short Bitcoin ETF sees exposure explode 300% in days

Bitcoin (BTC) remains a popular institutional investment target in July, but the money is not betting on a bright future.

According to data from research firm Arcane Research published July 6, institutional flows focused on products offering exposure to shorting BTC in the first week of the month.

Shorting Bitcoin is the name of . . . → Read More: World’s first short Bitcoin ETF sees exposure explode 300% in days

What does a bear-market ‘cleanse’ actually mean?

In his monthly crypto tech column, Israeli serial entrepreneur Ariel Shapira covers emerging technologies within the crypto, decentralized finance (DeFi) and blockchain space, as well as their roles in shaping the economy of the 21st century.

The post-mortem consensus on the crypto market crash among industry leaders ranging from Polygon co-founder Mihailo Bjelic to . . . → Read More: What does a bear-market ‘cleanse’ actually mean?

Hardware crypto wallet sales increase as centralized exchanges scramble

Blockchain analysis firm Glassnode recently characterized the 2022 bear market as the worst on record. This seems to be the case due to events such as the war in Ukraine and rising inflation, coupled with serious problems among centralized crypto exchanges. 

Yet, the bear market hasn’t negatively impacted all players in the crypto . . . → Read More: Hardware crypto wallet sales increase as centralized exchanges scramble

NFT platform wars could be ahead, says new DappRadar report

DappRader’s “Dapp Industry Report for Q2” 2022 raised, among many points, the idea that an upcoming non-fungible token (NFT) platform war could be on the horizon.

The report, which was provided to Cointelegraph, spoke of how UniSwap had recently acquired Genie and OpenSea purchased Gem in an effort to expand their respective services . . . → Read More: NFT platform wars could be ahead, says new DappRadar report

Australia’s world-leading crypto laws are at the crossroads: The inside story

As crypto winter sets in once more, industry players in Australia, one of the world’s most crypto-friendly nations, watch closely for a shift in the regulatory climate.

Anthony Albanese, the new Australian Labor Party prime minister, has made regulating crypto a top priority. However, neither he nor his cabinet has given a clear indication . . . → Read More: Australia’s world-leading crypto laws are at the crossroads: The inside story

Ethereum Name Service registrations surge by 200% amid lower gas fees

Ethereum domains showed an increase in demand as Ethereum Name Service (ENS) registration totaled 126,141 registrations in just one week. 

The ENS Dashboard, a data tracker created by developer Nick Johnson, shows that registrations went from 11,042 to 29,727, increasing over 200% during the weekend. This happened amid the second-largest .eth domain sale when “000.eth” . . . → Read More: Ethereum Name Service registrations surge by 200% amid lower gas fees

Risk profile of crypto markets similar to oil and tech: Coinbase

Despite some touting crypto as a hedge against traditional markets, digital assets today share a similar risk profile to commodities such as oil and gas, and tech and pharmaceutical stocks, according to an analysis from Coinbase’s chief economist. 

The observation comes from a blog post from Coinbase chief economist Cesare Fracassi on Wednesday, noting . . . → Read More: Risk profile of crypto markets similar to oil and tech: Coinbase

PennyWise crypto-stealing malware spreads through YouTube

A new strain of crypto-malware is being spread via YouTube, tricking users to download software that’s designed to steal data from 30 crypto wallets and crypto-browser extensions.

Cyber intelligence company Cyble in a June 30 blog post said it had been tracking the malware known as PennyWise — likely named after the monster . . . → Read More: PennyWise crypto-stealing malware spreads through YouTube

Bitcoin faces fresh pressure as US dollar crushes gold, risk assets

Bitcoin (BTC) hit daily lows on the July 5 Wall Street open as the U.S. dollar saw a violent surge higher. 

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView USD sets yet another 20-year record

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD retreating to $19,281 on Bitstamp as the Independence Day long weekend concluded . . . → Read More: Bitcoin faces fresh pressure as US dollar crushes gold, risk assets

Russians banned from accessing Bitmex within European Union

Major cryptocurrency exchange BitMEX is working to increase compliance with the European sanctions against Russia by preparing to enforce major restrictions for its Russian users.

BitMEX is changing its restricted jurisdictions policy to be compliant with various restrictive measures of the European Union, Cointelegraph has learned.

The BitMEX crypto exchange notified a group . . . → Read More: Russians banned from accessing Bitmex within European Union

Dutch University set to recover more than twice the paid BTC ransom in 2019

Netherland-based Maastricht University (UM) is set to recover nearly €500,000 ($512,150) worth of Bitcoin (BTC) after the police authorities managed to solve the infamous ransomware attack in December 2019.

In 2019, a ransomware hack targeted the said university and froze all its research data, emails and library resources. The hackers demanded €200,000 in BTC . . . → Read More: Dutch University set to recover more than twice the paid BTC ransom in 2019

Crypto investor Sequoia Capital China reportedly raises $9 billion

Sequoia Capital China, the Chinese affiliate of cryptocurrency-friendly venture capital firm Sequoia Capital, is about to raise $9 billion for its four new funds focused on Chinese startups.

In raising the capital, Sequoia China has already exceeded its initial target of roughly $8 billion, The Information news agency reported on Monday, citing two . . . → Read More: Crypto investor Sequoia Capital China reportedly raises $9 billion

ARK Invest ‘neutral to positive’ on Bitcoin price as analysts await capitulation

Bitcoin (BTC) has a “neutral to positive” outlook despite staying below $20,000, according to ARK Investment Management.

In its latest “Bitcoin Monthly” report, the American asset management giant flagged signs that BTC price action is close to bottoming.

Wood: “We’re waiting for more capitulation signals”

One of Bitcoin’s most vocal supporters, ARK and CEO, Cathie . . . → Read More: ARK Invest ‘neutral to positive’ on Bitcoin price as analysts await capitulation

Price analysis 7/4: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, LEO, SHIB

The crypto markets have remained relatively stable over the weekend and on July 4, which is a holiday for the United States financial markets due to Independence Day. Although Arthur Hayes, former CEO of derivatives platform BitMEX, was expecting a “mega crypto dump” around July 4, it has not materialized.

The drop in Bitcoin’s . . . → Read More: Price analysis 7/4: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, LEO, SHIB

Multichain adds Rootstock to its blockchain bridge ecosystem

Multichain, a cross-chain platform, has announced the integration of the Bitcoin-based (BTC) smart contract protocol Rootstock (RSK) blockchain into its ecosystem. This will allow users to exchange Ether (ETH), USD Coin (USDC), Binance USD (BUSD) and other assets between RSK, Ethereum and BNB Chain.

According to Monday’s announcement, the integration is a major . . . → Read More: Multichain adds Rootstock to its blockchain bridge ecosystem

Bitcoin’s inverse correlation with US dollar hits 17-month highs — what’s next for BTC?

Bitcoin (BTC) has been moving in the opposite direction of the United States dollar since the beginning of 2022 — and now that inverse relationship is more extreme than ever.

Bitcoin and the dollar go in opposite ways

Notably, the weekly correlation coefficient between BTC and USD dropped to 0.77 below zero in the week . . . → Read More: Bitcoin’s inverse correlation with US dollar hits 17-month highs — what’s next for BTC?

The crypto industry needs a crypto capital market structure

The past few weeks have been interesting and have surfaced what we in the financial services industry call matters requiring attention, or MRAs. An MRA describes a practice that deviates from sound governance, internal controls and risk management principles. These matters that require attention have the potential to adversely affect the industry and increase . . . → Read More: The crypto industry needs a crypto capital market structure

What is a bull trap, and how to identify it?

Here’s how to spot a bull trap with some tell-tale indicators that one is on the way:

RSI divergence

A high RSI might be an indication of a potential bull or bear trap.

A relative strength index (RSI) calculation may be used to identify a possible bull or bear trap. The . . . → Read More: What is a bull trap, and how to identify it?

6 Questions for Alyssa Tsai of Panony

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 Alyssa Tsai, founder and CEO of Panony — an incubator, investor and adviser for blockchain and Web3 . . . → Read More: 6 Questions for Alyssa Tsai of Panony

Israel’s regulator teases comprehensive crypto framework at ICC

In his monthly crypto tech column, Israeli serial entrepreneur Ariel Shapira covers emerging technologies within the crypto, decentralized finance (DeFi) and blockchain space, as well as their roles in shaping the economy of the 21st century.

While regulation is always a hot topic for the crypto scene, it is always interesting to take a . . . → Read More: Israel’s regulator teases comprehensive crypto framework at ICC

Ethereum average gas fee falls down to $1.57, the lowest since 2020

The Ethereum ecosystem’s biggest roadblock to mainstream dominance is often attributed to the extremely high transaction fees — known as gas fees — it requires to complete a transaction. However, with Ethereum’s average gas fees coming down to 0.0015 Ether (ETH), the narrative is set to change. 

The average transaction fee on the Ethereum blockchain . . . → Read More: Ethereum average gas fee falls down to $1.57, the lowest since 2020

Jed McCaleb’s XRP bag is almost gone, Ethereum’s difficulty bomb delayed, and FTX inks deal with BlockFi: Hodler’s Digest, June 26-July 2

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 After 8 years dumping billions of XRP, Jed McCaleb’s . . . → Read More: Jed McCaleb’s XRP bag is almost gone, Ethereum’s difficulty bomb delayed, and FTX inks deal with BlockFi: Hodler’s Digest, June 26-July 2

Bitcoin indicator that nailed all bottoms predicts $15.6K BTC price floor

Bitcoin (BTC) needs to go lower before putting in a macro bottom, one of the market’s most accurate indicators shows.

Data from sources including on-chain analytics firm Glassnode shows Bitcoin’s MVRV-Z Score is almost — but not quite — signaling a price reversal.

MVRV-Z Score inches towards macro bottom

Amid ongoing debate whether if, . . . → Read More: Bitcoin indicator that nailed all bottoms predicts $15.6K BTC price floor

What determines the Bitcoin price?

Various factors impacting Bitcoin’s price include the supply and demand of BTC, competition from other cryptocurrencies and news, cost of production and regulation.

Supply and demand

Those with a background in economics are aware of the law of supply and demand. However, if you are unfamiliar with this concept, let’s help . . . → Read More: What determines the Bitcoin price?

Bitcoin will see ‘long bear market’ says trader with BTC price stuck at $19K

Bitcoin (BTC) failed to reclaim recent losses into July 2 as traders prepared for stagnant price action to continue.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Downtrend acceleration” still in force

Data from Cointelegraph Markets Pro and TradingView tracked a limp BTC/USD as it chopped around the $19,000 mark into the weekend.

The Wall . . . → Read More: Bitcoin will see ‘long bear market’ says trader with BTC price stuck at $19K

NFT hype evidently dead as daily sales in June 2022 dip to one-year lows

Nonfungible tokens (NFT) took center stage in the year 2021 as artists, influencers, A-list celebrities and the sports industry finally came across a fan engagement tool that empowered the general public to cash in on their success. However, the hype around NFT did not manage to stand its ground as sales plummeted to one-year . . . → Read More: NFT hype evidently dead as daily sales in June 2022 dip to one-year lows

Experts explain how music NFTs will enhance the connection between creators and fans

According to Mike Darlington, CEO of Monstercat — an electronic music platform — and Jake Udell, founder of social NFT platform Metalink, bear markets are a time to ideate and build new products. During this week’s episode of NFT Steez, a bi-weekly Twitter Space hosted by Cointelegraph analysts, both Darlington and Udell agreed that . . . → Read More: Experts explain how music NFTs will enhance the connection between creators and fans

Bitcoin trader says expect more chop, downside, then sideways price action for BTC this summer

Discussion of the state of the crypto market has been a dominant headline over the past few weeks as non-crypto native media excoriate Bitcoin (BTC) and DeFi investors for investing in assets with no fundamental value. At the same time, crypto-savvy analysts and traders have been pouring over charts, looking for clues that signal . . . → Read More: Bitcoin trader says expect more chop, downside, then sideways price action for BTC this summer

Price analysis 7/1: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, LEO, SHIB

Bitcoin dropped 56.2% in the second quarter of 2022, according to crypto analytics platform Coinglass. That makes it Bitcoin’s worst quarter since the third quarter of 2011 when BTC price fell by 67%. A large part of the damage was done in the month of June when Bitcoin plunged 37%, the worst monthly drawdown . . . → Read More: Price analysis 7/1: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, LEO, SHIB

June gloom takes on a new meaning in another 2022 down month

The market cap of Bitcoin (BTC) dropped another 33% in June, which is now beginning to numb the Twitter community. On the upside, many crypto traders who wanted out did so fairly aggressively from March to May. But, the less optimistic news is that the stagnancy in address activity may need to change for . . . → Read More: June gloom takes on a new meaning in another 2022 down month

Bear market? “So what,” says World Chess Champion Garry Kasparov

Garry Kasparov, the Russian chess grandmaster and chair of the Human Rights Foundation, doesn’t appear at all bothered by the current crypto bear market. Kasparov, who is also a long-time Bitcoin supporter, told Cointelegraph during Consensus 2022 “so what” in regards to his thoughts on the bear market. Kasparov added that he thinks . . . → Read More: Bear market? “So what,” says World Chess Champion Garry Kasparov

Experts weigh in on European Union’s MiCa crypto regulation

European Union officials recently agreed on a landmark law called the Markets in Crypto-Assets (MiCa) framework that provides guidance for crypto asset service providers (CASPs) to operate within the Europe region. Following this, experts reacted with varying opinions, from supporting the decision to explaining how it would have adverse effects. 

According to Richard . . . → Read More: Experts weigh in on European Union’s MiCa crypto regulation

TON Foundation launches Ethereum Name Service-like domain names

The Open Network (TON) Foundation is the latest cryptocurrency company to upgrade its ecosystem with Ethereum Name Service (ENS)-like domain names.

The TON Foundation on Thursday announced the launch of TON DNS, a new service that allows users to assign human-readable names to crypto wallets, smart contracts and websites.

Similar to other popular . . . → Read More: TON Foundation launches Ethereum Name Service-like domain names

Layer-1 blockchains: How crypto winter could slow the challenge to Ethereum

Given Ethereum’s dominance coupled with the current crypto bear market, it remains questionable if L1s will flourish. This was recently highlighted in a Chainalsys blog post entitled “New layer 1 blockchains are expanding the DeFi ecosystem, but no ETH killers yet.” Ethan McMahon, an economist at Chainalysis, told Cointelegraph that Chainalysis published this report . . . → Read More: Layer-1 blockchains: How crypto winter could slow the challenge to Ethereum

Deutsche Bank analysts see Bitcoin recovering to $28K by December

Analysts from Deutsche Bank forecast Bitcoin (BTC) rebounding to $28,000 by December 2022 as the cryptocurrency market continues to grapple with gloomy times.

Bitcoin and the wider cryptocurrency markets have endured a tough six months, with the value of BTC, in particular, enduring its worst quarter in 10 years. Macroeconomic conditions around the . . . → Read More: Deutsche Bank analysts see Bitcoin recovering to $28K by December

Not giving up: VanEck refiles with SEC for spot Bitcoin ETF

VanEck, one of the first firms in the world to ever file for a Bitcoin (BTC) exchange-traded fund (ETF), is not giving up on its plans to launch a spot Bitcoin ETF in the United States.

The firm has refiled an application for a physically-backed Bitcoin ETF with the U.S. Securities and Exchange . . . → Read More: Not giving up: VanEck refiles with SEC for spot Bitcoin ETF

Ethereum fork a success as Sepolia testnet gears up to trial the Merge

The difficulty bomb-delaying Gray Glacier hard fork went live on Ethereum on Thursday without a hitch, according to the network’s core devs including Ethereum Foundation’s Tim Beiko.

The Sepolia testnet is also set to run through its Merge trial over the next few days and is the second last testnet to go through the . . . → Read More: Ethereum fork a success as Sepolia testnet gears up to trial the Merge

Former Monero maintainer Spagni to surrender for South Africa extradition

Riccardo Spagni, the former maintainer of the privacy coin Monero (XMR), also known as Fluffypony, faces extradition to South Africa months after his arrest by U.S. authorities.

In a Thursday court filing for the Middle District of Tennessee, Magistrate Judge Alistair Newbern ordered Spagni to surrender to U.S. Marshals on July 5 for . . . → Read More: Former Monero maintainer Spagni to surrender for South Africa extradition

Thailand’s Crypto Utopia — ‘90% of a cult, without all the weird stuff’

The story of how a Bitcoin OG set up a Libertarian crypto community and commune for digital nomads on beautiful islands in Thailand three times — and why he hasn’t yet given up on the dream.

It’s a wild tale involving “unchecked merrymaking,” crypto-influencers, police grillings, seasteading, a reported $20,000-a-month burn rate, rumors about . . . → Read More: Thailand’s Crypto Utopia — ‘90% of a cult, without all the weird stuff’

Infamous North Korean hacker group identified as suspect for $100M Harmony attack

The Lazarus Group, a well-known North Korean hacking syndicate, has been identified as the primary suspect in the recent attack that saw $100 million stolen from the Harmony protocol. 

According to a new report published Thursday by blockchain analysis firm Elliptic, the manner in which Harmony’s Horizon bridge was hacked and the way . . . → Read More: Infamous North Korean hacker group identified as suspect for $100M Harmony attack

Ethereum $1K price support in danger as Q2 comes to a close

Ethereum’s native token Ether (ETH) fell on the final trading day of Q2/2022, trading in sync with riskier assets amid persistent fears of higher inflation and rising interest rates. And it could result in further declines heading into Q3.

ETH price breakdown underway

ETH’s price plunged nearly 5% this June 30 to $1,044 following . . . → Read More: Ethereum $1K price support in danger as Q2 comes to a close

Bitcoin price drops 3% to ten-day lows as Ethereum inches closer to $1K

Bitcoin (BTC) lost 3% in an hour and Ether (ETH) drifted toward $1,000 on June 30 as pessimism took control of crypto markets.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Traders eye “sweep of lows” for BTC

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $19,224 on Bitstamp during Asian trading, its . . . → Read More: Bitcoin price drops 3% to ten-day lows as Ethereum inches closer to $1K

Price analysis 6/29: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, LEO

The United States equities markets have given back some of the gains made last week and that has pulled Bitcoin to the psychological support at $20,000. This suggests that investors are nervous to buy risky assets at higher levels.

Meanwhile, while speaking to the hosts of the Bankless podcast on June 23, Mark Cuban . . . → Read More: Price analysis 6/29: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, LEO

It’s time to refocus on crypto infrastructure, CoinShares CSO says

The ongoing cryptocurrency market decline is the right time for the community to strengthen infrastructure fundamentals, according to the chief strategy officer at the European digital asset manager CoinShares.

CoinShares is one of the largest digital asset investment firms in Europe, with net assets exceeding $260 million by the end of 2021. According . . . → Read More: It’s time to refocus on crypto infrastructure, CoinShares CSO says

Better than Axie Infinity: Kieran Warwick’s 2032 plan for Illuvium

Kieran Warwick created the play-to-earn game Illuvium with his brothers Aaron and Grant — all siblings of DeFi maverick Kain, the founder of Synthetix. He shares his alpha on how NFT game mechanics can be designed in such a way that playing them can be fun and profitable in the long term.

Warwick entered . . . → Read More: Better than Axie Infinity: Kieran Warwick’s 2032 plan for Illuvium

Governments, enterprise, gaming: Who will drive the next crypto bull run?

In his monthly crypto tech column, Israeli serial entrepreneur Ariel Shapira covers emerging technologies within the crypto, decentralized finance (DeFi) and blockchain space, as well as their roles in shaping the economy of the 21st century.

The crypto market, just as any other market, runs in cycles. Even though digital assets are known, if . . . → Read More: Governments, enterprise, gaming: Who will drive the next crypto bull run?

MicroStrategy scoops up 480 Bitcoin amid market slump

Business intelligence firm MicroStrategy has added to its Bitcoin (BTC) holdings, reaffirming CEO Michael Saylor’s bullish outlook on the digital asset despite its recent struggles. 

In a Form 8-K filing with the United States Securities and Exchange Commission (SEC), Microstrategy disclosed that it had acquired an additional 480 BTC at an average price . . . → Read More: MicroStrategy scoops up 480 Bitcoin amid market slump

21Shares responds to bear market with crypto winter ETP

21Shares, a global issuer of crypto exchange-traded products (ETPs), is taking action to respond to the current bear market by launching crypto winter-focused investment tools.

The company has rolled out the 21Shares Bitcoin Core ETP (CBTC), an ETP specifically designed to offer low-cost exposure to Bitcoin (BTC) to the ongoing market sell-off.

The . . . → Read More: 21Shares responds to bear market with crypto winter ETP

Crypto market crash wipes out millions from North Korea’s stolen crypto funds

North Korea leads the world in crypto crime, with over 15 documented instances of cyber theft amounting to $1.59 billion in stolen funds. However, the recent crypto market turmoil has wiped out millions of dollars from the country’s stolen crypto portfolio.

The crypto market rundown that started in May wiped out hundreds of billions . . . → Read More: Crypto market crash wipes out millions from North Korea’s stolen crypto funds

Anchorage launches Ethereum staking for institutional investors

Anchorage Digital, a San-Francisco-based digital platform that owns the first federally chartered crypto bank, will open an option for institutions to stake Ethereum (ETH). This move comes in anticipation of the Ethereum network’s long-promised shift from proof-of-work (PoW) to the proof-of-stake (PoS) protocol. 

Anchorage announced on Tuesday its intention to introduce ETH staking — . . . → Read More: Anchorage launches Ethereum staking for institutional investors

Bitcoin’s bottom might not be in, but miners say it ‘has always made gains over any 4-year period’

Your favorite trader is saying Bitcoin (BTC) bottomed. At the same time, the top on-chain indicators and analysts are citing the current price range as a “generational buy” opportunity. Meanwhile, various crypto and finance media recently reported that Bitcoin miners sending a mass of coins to exchanges are a sign that $17,600 was . . . → Read More: Bitcoin’s bottom might not be in, but miners say it ‘has always made gains over any 4-year period’

Must staking and liquidity pool lock-ups change to see crypto mass adoption?

The recent downturn in the broader crypto landscape has highlighted several flaws inherent with proof-of-stake (PoS) networks and Web3 protocols. Mechanisms such as bonding/unbonding and lock-up periods were architecturally built into many PoS networks and liquidity pools with the intent of mitigating a total bank run and promoting decentralization. Yet, the inability to quickly . . . → Read More: Must staking and liquidity pool lock-ups change to see crypto mass adoption?

Different this time? ‘Almost all’ Bitcoin metrics are now hinting at a price bottom

Bitcoin (BTC) played wait-and-see with traders on June 28 as Wall Street opened to flat performance.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bollinger eyes “logical place” for Bitcoin bottom

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $21,000 on Bitstamp, refusing to commit to a firm trend.

The pair nonetheless avoided fresh . . . → Read More: Different this time? ‘Almost all’ Bitcoin metrics are now hinting at a price bottom

Crypto more popular than mutual funds among millennials, survey shows

Investing firm Alto recently surveyed adults based in the United States to find out their preferences in investing. The results show that more millennials aged 25 to 40 are investing in crypto than in mutual funds. 

The report, dubbed “How Millennials See Their Financial Future,” reveals that nearly 40% of millennial respondents have invested . . . → Read More: Crypto more popular than mutual funds among millennials, survey shows

3 charts showing this Bitcoin price drop is unlike summer 2021

Bitcoin (BTC) bear markets come in many shapes and sizes, but this one has given many reasons to panic.

BTC has been described as facing “a bear of historic proportions” in 2022, but just one year ago, a similar feeling of doom swept crypto markets as Bitcoin saw a 50% drawdown in weeks.

Beyond . . . → Read More: 3 charts showing this Bitcoin price drop is unlike summer 2021

Bitcoin mining revenue mirrors 2021 lows, right before BTC breached $69K

Bitcoin (BTC) visiting the $20,000 range after one and a half years made mining — the most important job of the ecosystem — a costly affair. However, if history were to repeat itself, BTC investors may witness another epic bull run that previously helped Bitcoin reach an all-time high of $69,000.

Changes in Bitcoin . . . → Read More: Bitcoin mining revenue mirrors 2021 lows, right before BTC breached $69K

Community reacts after SEC’s Gensler affirms BTC’s commodity status

United States Securities and Exchange Commission Chair Gary Gensler riled up Crypto Twitter on Monday after affirming that Bitcoin (BTC) is a commodity. Questions were raised about its impact on Grayscales’ proposed Bitcoin exchange-traded fund (ETF) and why Ether (ETH) wasn’t mentioned.

Speaking to Jim Cramer on CNBC’s Squawk Box on Monday, the . . . → Read More: Community reacts after SEC’s Gensler affirms BTC’s commodity status

Harmony hacker sends stolen funds to Tornado Cash mixer

The funds from Harmony’s Horizon Bridge have begun to move into the Tornado Cash Ethererum mixer, signaling that the attacker has no intention of accepting the $1 million bounty offered.

The decision to obfuscate the ill-gotten gains answers questions about whether the Harmony team’s offer of just 1% of the $100 million in . . . → Read More: Harmony hacker sends stolen funds to Tornado Cash mixer

Institutional crypto asset products saw record weekly outflows of $423M

Digital asset investment products saw record outflows totaling $423 million last week, with institutional investors from Canada representing nearly all of the carnage.

According to the latest edition of CoinShares’ weekly “Digital Asset Fund Flows” report, Canadian investors offloaded a whopping $487.5 worth of digital asset products between June 20 and June 24. . . . → Read More: Institutional crypto asset products saw record weekly outflows of $423M

Final Capitulation — 5 reasons why Bitcoin could bottom at $10,000

Bear markets have historically been challenging to navigate for traders and the conventional set of “reliable” indicators that determine good entry points are unable to predict how long a crypto winter might last.

Bitcoin’s (BTC) recent recovery back above the psychologically important price level of $20,000 was a sign to many traders that the bottom . . . → Read More: Final Capitulation — 5 reasons why Bitcoin could bottom at $10,000