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Bitcoin erases latest gains with BTC price back below $20K as dollar spikes

Bitcoin (BTC) fell back below $20,000 after the Aug. 30 Wall Street open as data showed hodlers selling at a loss.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView June lows look increasingly attractive

Data from Cointelegraph Markets Pro and TradingView captured the latest dive below the 2017 bull market peak for BTC/USD, with United . . . → Read More: Bitcoin erases latest gains with BTC price back below $20K as dollar spikes

Russian PM takes cue from Iran’s crypto payment permit for imports

Russia may soon be taking a cue from Iran by using cryptocurrencies for imports, according to commentthe Russian prime minister.

The adoption of digital assets is necessary as a “safe alternative” for cross-border payments, Russian Prime Minister Mikhail Mishustin declared at a strategic session on the development of the domestic financial system on . . . → Read More: Russian PM takes cue from Iran’s crypto payment permit for imports

Organizations bring Africa, Costa Rica and Ukraine to the Metaverse to raise awareness

The Metaverse is quickly becoming one of the most important places for companies and individuals looking to expand their reach. New findings from research firm MarketsandMarkets predict that the Metaverse market size will grow from $61.8 billion in 2022 to $426.9 billion by 2027. 

In addition, a recent report from Juniper Research links nonfungible . . . → Read More: Organizations bring Africa, Costa Rica and Ukraine to the Metaverse to raise awareness

Singapore state investor leads $100M round for crypto firm Animoca: Report

The venture capital market of the cryptocurrency industry is holding strong despite the crypto winter as major government-linked firms reportedly continue betting on big industry players.

Singapore state-owned investment firm Temasek is joining a $100 million funding round for the blockchain and venture studio Animoca Brands, Bloomberg reported on Tuesday. According to the . . . → Read More: Singapore state investor leads $100M round for crypto firm Animoca: Report

Aave community proposes to temporarily suspend ETH lending before the Merge

With the Ethereum Merge on the way, the risk research and analysis team Block Analitica proposed a temporary pause in Ether (ETH) borrowing to mitigate the risks that may lead to a decentralized finance (DeFi) implosion in the Aave lending protocol during the Merge. 

The team pointed out the potential issue of high . . . → Read More: Aave community proposes to temporarily suspend ETH lending before the Merge

Ethereum scaling network Arbitrum set for major upgrade on Aug. 31

Ethereum layer-2 scaling solution Arbitrum is set to undergo one of its most significant upgrades on Wednesday, set to increase transaction throughput, slash transaction fees and simplify cross-chain communication between Arbitrum and Ethereum.

Referred to as the “Nitro” upgrade, Arbitrum reconfirmed the date of the upgrade in a Twitter post on Aug. 29, . . . → Read More: Ethereum scaling network Arbitrum set for major upgrade on Aug. 31

Price analysis 8/29: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, MATIC

The United States equities markets are attempting to stabilize after the carnage on Aug. 26. On similar lines, Bitcoin (BTC) is also witnessing a see-saw battle near the psychological level of $20,000 with both the bulls and the bears vying for supremacy. 

Although several analysts are bearish on Bitcoin in the near term, it . . . → Read More: Price analysis 8/29: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, MATIC

Bitcoin reaches ‘short squeeze’ trigger zone as BTC price nears $20.4K

Bitcoin (BTC) regained some lost ground at the Aug. 29 Wall Street open amid talk of an imminent short squeeze.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Shorts lose out in modest squeeze higher for BTC

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing to near $20,400 on Bitstamp as United States . . . → Read More: Bitcoin reaches ‘short squeeze’ trigger zone as BTC price nears $20.4K

Billions are spent marketing crypto to sports fans — Is it worth it?

Crypto advertising has been plastered across every available sporting surface since the bull run of 2021, from stadium naming deals and team’s playing kits to Formula One racing car liveries. But in the current bearish market conditions, it seems hard to calculate a return on the ubiquitous spending of 2021’s crazy big advertising. 

In . . . → Read More: Billions are spent marketing crypto to sports fans — Is it worth it?

South African rugby icon Siya Kolisi headlines new crypto advertising campaign

National rugby captain Siya Kolisi will spearhead a two-year educational cryptocurrency advertising campaign in South Africa.

The Springbok skipper has partnered with global cryptocurrency exchange Luno in the campaign’s rollout, which will feature a series of television adverts promoting a long-term investment attitude towards cryptocurrencies.

Kolisi was front and center of the first . . . → Read More: South African rugby icon Siya Kolisi headlines new crypto advertising campaign

What the Taliban crackdown means for crypto’s future in Afghanistan

When the Taliban again rose to power in August 2021, Afghanistan faced global sanctions that led to many international organizations and money transaction services halting operations in the country. This made room for digital currencies and stablecoins to be widely used, at least to send or receive remittances.

However, according to the provincial news website . . . → Read More: What the Taliban crackdown means for crypto’s future in Afghanistan

Mt. Gox creditors dismiss rumors of massive Bitcoin dump

As rumors about an upcoming Bitcoin (BTC) dump float on Twitter, Mt. Gox creditors took to the social media platform to say that the rumors are all false, with one highlighting that the defunct exchange’s repayment system is still not yet live.

In a Twitter thread, Eric Wall introduced himself as a Mt. . . . → Read More: Mt. Gox creditors dismiss rumors of massive Bitcoin dump

Rocky road lies ahead, but here’s 5 altcoins that still look bullish

The United States equities markets plunged on Aug. 26 following Federal Reserve Chair Jerome Powell’s speech where he reiterated the central bank’s hawkish stance. Continuing its correlation with the equities market, Bitcoin (BTC) and the cryptocurrency markets also witnessed a sharp selloff on Aug. 26.

Bitcoin has declined about 14% this month, making it . . . → Read More: Rocky road lies ahead, but here’s 5 altcoins that still look bullish

Bitcoin threatens 20-month low monthly close with BTC price under $20K

Bitcoin (BTC) looked set to equal its lowest monthly close since 2020 on Aug. 28 as bulls failed to take control.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Odds stack up for a deeper dive below $20,00

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD criss-crossing $20,000 with hours until the weekly candle . . . → Read More: Bitcoin threatens 20-month low monthly close with BTC price under $20K

The number of crypto billionaires is growing fast, here’s why

Satoshi Nakamoto has more than 1 million BTC, making him the largest Bitcoin holder. He is followed by the founders of Grayscale and Binance, who together have about the same amount of BTC as Satoshi Nakamoto.

When looking at the largest Bitcoin holders, there are a few parties that stand out. Of . . . → Read More: The number of crypto billionaires is growing fast, here’s why

Bitcoin risks worst August since 2015 as hodlers brace for ‘Septembear’

BItcoin (BTC) is on track to see its worst August performance since the 2015 bear market — and next month may be even worse.

Data from on-chain analytics resource Coinglass shows that BTC/USD has not had an August this bad for seven years.

September means average 5.9% BTC price losses

After two major BTC . . . → Read More: Bitcoin risks worst August since 2015 as hodlers brace for ‘Septembear’

Bitcoin mining difficulty set for 8-month record gains despite BTC price dip

Bitcoin (BTC) may have hit six-week lows of under $20,000 but its network fundamentals are anything but bearish.

The latest on-chain data shows that, far from capitulating, hash rate and difficulty are making snap gains.

Data supports “doozy” difficulty jump

Despite being down around 7% in a week, BTC/USD is not putting off miners, . . . → Read More: Bitcoin mining difficulty set for 8-month record gains despite BTC price dip

Mt. Gox rumors panic Bitcoin Twitter as BTC price returns below $20K

Bitcoin (BTC) failed to keep $20,000 support on Aug. 27 as fears over a sell-off by users of defunct exchange Mt. Gox added to price pressures.

BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Mt. Gox rumors dismissed as “typical crypto”

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it headed to new six-week . . . → Read More: Mt. Gox rumors panic Bitcoin Twitter as BTC price returns below $20K

Bitcoin price briefly loses $20K on ‘bunch of nothing’ Powell speech

Bitcoin (BTC) analysts were keen to draw fresh price targets on Aug. 27 after the largest cryptocurrency briefly fell below $20,000.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Sub-$20,000 BTC price targets stay in place

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $19,945 on Bitstamp the night after hawkish comments from the . . . → Read More: Bitcoin price briefly loses $20K on ‘bunch of nothing’ Powell speech

US stocks lose $1.25T in a day — more than entire crypto market cap

Bitcoin (BTC) and altcoins lost big on Aug. 26 after the United States Federal Reserve delivered hawkish remarks on economic policy.

Across the board, risk assets took a major hit — U.S. equities shed around $1.25 trillion in a single session.

Analyst: Powell retiring “soft landing” rhetoric

As comments by Fed Chair, Jerome Powell, suggested . . . → Read More: US stocks lose $1.25T in a day — more than entire crypto market cap

Pro-blockchain narratives hinder Bitcoin adoption, says StackinSat founder

Over a decade-long evolution later, for self-justified personal reasons, a handful of the crypto community members chose to believe in siding against Bitcoin (BTC), resulting in a narrative that preached “blockchain is great, Bitcoin is bad.”

Josselin Tonnellier, the founder of Bitcoin exchange StackinSat and organizer of the Surfin’ Bitcoin 2022, believes that this . . . → Read More: Pro-blockchain narratives hinder Bitcoin adoption, says StackinSat founder

Bear market uncertainty is the perfect time to build and learn, says Sato exec

The decisions made by companies during bear markets play a pivotal role in determining their longevity in the crypto ecosystem. Representing Canadian Bitcoin (BTC) mining firm Sato Technologies, COO Fanny Philip revealed what it takes to survive the bearish loom as the market prepares for the next bull run.

Speaking to Cointelegraph during . . . → Read More: Bear market uncertainty is the perfect time to build and learn, says Sato exec

Hacker tries to exploit bridge protocol, fails miserably: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.

This past week, there were some major developments in the run-up to the upcoming Ethereum Merge slated for Sept. 15. Bitfinex became the latest crypto exchange to throw . . . → Read More: Hacker tries to exploit bridge protocol, fails miserably: Finance Redefined

Hetzner anti-crypto policies: A wake-up call for Ethereum’s future

Just when the Ethereum ecosystem reached its final stages in preparing for the much-anticipated upgrade, The Merge, german cloud provider Hetzner, reiterated its stance against allowing mining operations for both proof-of-stake (PoS) and proof-of-work (PoW) applications.

Hetzner, a private, centralized cloud provider, stepped in on a discussion around running blockchain nodes, highlighting its terms . . . → Read More: Hetzner anti-crypto policies: A wake-up call for Ethereum’s future

Coinbase says it will ‘evaluate any potential forks’ following the Merge

Cryptocurrency exchange Coinbase has updated its information related to Ethereum transitioning to proof-of-stake to include forks that could arise.

In a Thursday update to an Aug. 16 blog post, Coinbase said it would evaluate any potential forks in the Ethereum blockchain on a “case by case basis.” The crypto exchange previously said it . . . → Read More: Coinbase says it will ‘evaluate any potential forks’ following the Merge

VanEck BTC ETF delayed, Bitcoin Depot plans public listing and Huobi gets flagged: Hodler’s Digest, Aug. 21-27

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 Ethereum Merge in trouble? Developers find bugs ahead of . . . → Read More: VanEck BTC ETF delayed, Bitcoin Depot plans public listing and Huobi gets flagged: Hodler’s Digest, Aug. 21-27

Price analysis 8/26: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, MATIC

Federal Reserve Chairman Jerome Powell warned that the central bank will continue to use the “tools forcefully” to bring down inflation, which is close to its highest level in 40 years. He cautioned that the restrictive policy may remain for some time and warned that it could “bring some pain to households and businesses.”

. . . → Read More: Price analysis 8/26: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, MATIC

Hawkish Fed comments and Bitcoin derivatives data point to further BTC downside

A $750 pump on Aug. 26 took Bitcoin (BTC) from $21,120 to $21,870 in less than two hours. However, the movement was completely erased after comments from U.S. Federal Reserve Chair Jerome Powell reiterated the bank’s commitment to contain inflation by tightening the economy. Following Powell’s speech, BTC price dropped as low as $20,700. 

. . . → Read More: Hawkish Fed comments and Bitcoin derivatives data point to further BTC downside

Millions of dollars in ETH lie unclaimed in presale wallets — but there’s a way to get them back

Out in the cryptosphere, there’s a vast amount of wealth that’s seemingly out of reach.

A long-running statistic suggests four million Bitcoin — almost 20% of the total supply — has been lost forever. Much of it was mined when the network was just beginning, with early adopters tearing their hair . . . → Read More: Millions of dollars in ETH lie unclaimed in presale wallets — but there’s a way to get them back

Bitcoin price gains 3.5% as US PCE data supports shrinking inflation

Bitcoin (BTC) rose rapidly later on Aug. 26 as fresh economic data from the United States furthered hopes of a pivot from the Federal Reserve.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin bounces but preserves intraday trend

Data from Cointelegraph Markets Pro and TradingView tracked a 3.55% rise for BTC/USD on the day, allowing . . . → Read More: Bitcoin price gains 3.5% as US PCE data supports shrinking inflation

Why September is shaping up to be a potentially ugly month for Bitcoin price

Bitcoin (BTC) bulls should not get excited about the recovery from the June lows of $17,500 just yet as BTC heads into its riskiest month in the coming days.

The psychology behind the “September effect”

Historic data shows September being Bitcoin’s worst month between 2013 and 2021, except in 2015 and 2016. At the . . . → Read More: Why September is shaping up to be a potentially ugly month for Bitcoin price

Cryptocurrencies copying Bitcoin don’t really make the cut, experts say

Cointelegraph’s Joseph Hall interviewed Bitcoin (BTC) advocates Pierre and Morgen Rochard, the hosts of the Bitcoin for Advisors podcast, at the Surfin’ Bitcoin 2022 event held in France. The group talked about how France can attract more miners, where Bitcoin fits in terms of financial planning and the difference between Bitcoin and other . . . → Read More: Cryptocurrencies copying Bitcoin don’t really make the cut, experts say

Binance to suspend ETH and ERC-20 deposits and withdrawals during Merge

Cryptocurrency exchange Binance will suspend deposits and withdrawals of Ether (ETH) and ERC-20 tokens during the blockchain’s transition to its proof-of-stake (PoS) Beacon chain in September.

The world’s largest exchange by transaction volume announced the move in a bid to provide stability during The Merge, which is touted to take place in mid-September . . . → Read More: Binance to suspend ETH and ERC-20 deposits and withdrawals during Merge

Ethereum dev addresses node centralization concerns in runup to the Merge

Ethereum is a few weeks away from officially moving to a proof-of-stake (PoS) mining consensus from its current proof-of-work (PoW) one. The transition, officially dubbed the Merge, is slated for Sept. 15, but in the run-up to the major upgrade, Ethereum node centralization has become a hot topic.

As Cointelegraph reported last week, the . . . → Read More: Ethereum dev addresses node centralization concerns in runup to the Merge

Synthetix looks to turn off the SNX money printer once and for all

The founder of decentralized finance (DeFi) protocol Synthetix, Kain Warwick, has submitted a proposal that would turn off very high yield returns for SNX stakers and cap the total Synthetix (SNX) supply at 300 million. 

The Synthetix protocol allows traders to issue synthetic versions of crypto native assets, traditional financial assets, and commodities on . . . → Read More: Synthetix looks to turn off the SNX money printer once and for all

Lower costs, higher speeds after Ethereum’s Merge? Don’t count on it

As we approach the date of Ethereum’s Merge, users have speculated about what it will mean for projects and the wider ecosystem. Some argue the Merge will have little impact on gas fees and believe transaction speeds might improve.

However, in general, most ordinary users will not notice much change. The real changes for . . . → Read More: Lower costs, higher speeds after Ethereum’s Merge? Don’t count on it

Prince Philip of Serbia suggests bringing Bitcoin into the classroom

Speaking to Cointelegraph over sandcastles at the Surfin’ Bitcoin 2022 event at Casino de Biarritz in France on Thursday, Prince Philip said he was “bullish on Bitcoin” in part because of the impact it could have on children’s education around the world. The prince, a self-described Bitcoin (BTC) maximalist, hinted that part of his . . . → Read More: Prince Philip of Serbia suggests bringing Bitcoin into the classroom

Wen moon? Probably not soon: Why Bitcoin traders should make friends with the trend

The impact of Federal Reserve policy and Bitcoin’s higher timeframe market structure suggest that BTC price is not yet ready for a trend reversal. 

Bitcoin (BTC) price continues to chop below the $22,000 level and the wider narrative among traders and the mainstream media suggests that a risk-off sentiment is a dominant perspective ahead . . . → Read More: Wen moon? Probably not soon: Why Bitcoin traders should make friends with the trend

Why $20.8K is a critical level for Bitcoin | Find out now on Market Talks with Charlie Burton

In this week’s episode of Market Talks, we welcome professional trader Charlie Burton.

Charlie is a professional trader with 24 years of experience and has been trading full-time since 2001. He is the founder of EzeeTrader and Charlie Burton Trading. He is also undefeated in the annual London Forex show live trade-off for . . . → Read More: Why $20.8K is a critical level for Bitcoin | Find out now on Market Talks with Charlie Burton

DeFi vs. CeFi: Decentralization for the win?

“The collapse of crypto shadow banks like Celsius demonstrated just how problematic centralized, opaque finance can be,” says Sunny Aggarwal of Osmosis DEX.

Centralized finance platforms have taken a huge credibility hit due to poor risk controls, but decentralized finance protocols haven’t escaped unscathed either. So, is DeFi or CeFi likely to emerge . . . → Read More: DeFi vs. CeFi: Decentralization for the win?

Crypto ATM firm Bitcoin Depot aims to go public in 2023 via $885M SPAC deal

Bitcoin Depot, a major cryptocurrency ATM provider in the United States, is planning to go public through a merger with a special-purpose acquisition company (SPAC).

Atlanta-based Bitcoin Depot has reached a definitive agreement to merge with the SPAC GSR II Meteora (GSRM) in an $885 million deal to go public, the firm officially . . . → Read More: Crypto ATM firm Bitcoin Depot aims to go public in 2023 via $885M SPAC deal

Coinbase eyes long-term growth of subscription revenue, NFTs still a focus

American cryptocurrency exchange Coinbase aims to grow revenue from subscriptions in the long term to combat potential profit margin compression.

The firm’s founder and CEO Brian Armstrong delved into the long-term prospects of the American cryptocurrency exchange in a wide-ranging interview with CNBC’s Crypto World on Tuesday. A key talking point was the . . . → Read More: Coinbase eyes long-term growth of subscription revenue, NFTs still a focus

ETH whales move holdings onto exchanges before Merge

The Ethereum blockchain is slated for one of the most significant updates since its inception as it transitions from its current proof-of-work mining consensus to a proof-of-stake (PoS) one. 

The Merge date is scheduled for Sept. 15, after the successful Goerli testnet integration — the final testnet merger before the actual transition. Ether (ETH), Ethereum’s . . . → Read More: ETH whales move holdings onto exchanges before Merge

Nvidia cites limited visibility into crypto mining’s impact on Q2 results

Graphics card giant Nvidia CFO Colette Kress says the company has been unable to estimate reduced crypto mining demand impacted its Q2 results, which fell short of analyst expectations on Wednesday. 

The chip giant released its financial results for the three months ended July 31, which revealed a 19% quarter-on-quarter drop in revenue . . . → Read More: Nvidia cites limited visibility into crypto mining’s impact on Q2 results

Vitalik: People still ‘underrate’ the superiority of crypto payments

Ethereum co-founder Vitalik Buterin suggests the superiority of cryptocurrency for payments is often “underrated” compared to fiat, pointing to the convenience of international payments and payments to charities as key examples. 

Buterin made the comments in a Twitter thread on Wednesday, explaining that it’s not just resistance to censorship but also convenience that makes . . . → Read More: Vitalik: People still ‘underrate’ the superiority of crypto payments

It’s a go! Uniswap Foundation becomes reality after 86M votes in favor

The $74 million plan by two former Uniswap Lab executives for a new Uniswap Foundation has just become reality after their proposal received over 99% of the votes from Uniswap (UNI) holders.

According to the initial proposal, the foundation aims to streamline Uniswap’s Grant Program (UPG) and reduce friction in the protocol’s governance . . . → Read More: It’s a go! Uniswap Foundation becomes reality after 86M votes in favor

Coinbase introduces wrapped staked ETH asset ahead of the Merge

Coinbase has launched a new asset in which Ether tokens are staked and wrapped through the crypto exchange.

In a Wednesday announcement, Coinbase said it will be listing Coinbase Wrapped Staked ETH (cbETH) on the Ethereum network as an ERC-20 token, allowing customers to use their staked Ether (ETH) while earning rewards on . . . → Read More: Coinbase introduces wrapped staked ETH asset ahead of the Merge

Monthly Ethereum options data suggests $2K will remain an elusive target

Since failing to close above the $2,000 mark, Ether (ETH) price has faced a steep 16.8% correction, but this was not enough to give bears an edge in the August $1.27 billion monthly options expiry.

Ether USD price index, 12-hour chart. Source: TradingView

Currently, there are mixed feelings about the network’s upcoming change to . . . → Read More: Monthly Ethereum options data suggests $2K will remain an elusive target

Price analysis 8/24: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, MATIC

Bitcoin (BTC) and several major cryptocurrencies have been trading sideways as traders avoid taking large bets before the United States Federal Reserve’s Jackson Hole Economic Symposium, which begins on Aug. 25. The volatility is likely to soar as investors get some clarity on the Fed’s stance in the next few days.

On Aug. 23, . . . → Read More: Price analysis 8/24: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, MATIC

Bug bounty quadruples for Ethereum network — Up to $1M payouts ahead of Merge

The Ethereum Foundation has announced it will be increasing the network’s bug bounty payouts fourfold ahead of the blockchain’s transition to proof-of-stake.

In a Wednesday blog post, the Ethereum Foundation said between Aug. 24 and Sept. 8, all “Merge-related bounties for vulnerabilities” will be quadrupled for white hats testing the network. According to the . . . → Read More: Bug bounty quadruples for Ethereum network — Up to $1M payouts ahead of Merge

Bitcoin Lightning Network vs Visa and Mastercard: How do they stack up?

Bitcoin (BTC) changed the world as a decentralized, nongovernmental form of currency that can facilitate peer-to-peer (P2P) transactions that transcend national borders. 

But despite this functionality, Bitcoin’s role as a payment mechanism has been called into question due to its low transaction throughput.

The Bitcoin blockchain can handle up to seven transactions per . . . → Read More: Bitcoin Lightning Network vs Visa and Mastercard: How do they stack up?

Crypto licensing roundup: Learn about the most recent approvals in the industry

Cryptocurrency companies have been moving to improve compliance worldwide amid the bear market of 2022, with many platforms increasingly securing licenses and approvals. 

As one may find it difficult to track all global regulatory milestones in crypto, Cointelegraph has picked up some of the latest compliance developments over the past couple of weeks.

. . . → Read More: Crypto licensing roundup: Learn about the most recent approvals in the industry

Bitcoin breakout possible as whales close in on sideways BTC price

Bitcoin (BTC) stayed strictly rangebound on Aug. 24 as buyers and sellers attempted to spark a breakout.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Spot price squeeze on the cards

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering near $21,500 at the Wall Street open.

The pair had seen little action . . . → Read More: Bitcoin breakout possible as whales close in on sideways BTC price

Boomer on the dancefloor! The 64 yr old Bitcoin breakdancer on investing

One of the world’s oldest competitive “breakers,” or breakdancers, is twisting and shouting Bitcoin (BTC) on dancefloors across the United States. Aged 64, Ben Hart told Cointelegraph he reckons he’s “the world’s oldest actively competing breaker.”

For context, Gary Gensler, the chair of the Securities and Exchange Commission, or SEC, is the same age. . . . → Read More: Boomer on the dancefloor! The 64 yr old Bitcoin breakdancer on investing

Ethereum Merge in trouble? Developers find bugs ahead of the planned update

While the upcoming ETH Merge is one of the most anticipated events in the crypto community at the moment, it’s not free from hiccups. However, Ethereum developers are quick to respond to the issues that arise.

Péter Szilágyi, an Ethereum software developer, has announced on Twitter that they have found a regression that . . . → Read More: Ethereum Merge in trouble? Developers find bugs ahead of the planned update

Hodl until mega yacht: Mintable founder shares crypto journey

While other traders may be quick to take profits once they see gains, some are willing to hold on to their digital assets until they can pursue bigger goals, like a “mega yacht.” 

In a Twitter thread, Mintable founder Zach Burks shared how he found Web3 and went from being broke and jobless . . . → Read More: Hodl until mega yacht: Mintable founder shares crypto journey

BitBoy Crypto sues fellow YouTuber Atozy for defamation over shilling claims

Two prominent YouTube content creators are set to lock horns in a legal battle over a cryptocurrency video allegedly promoting a project that ended up being a scam.

Bitboy Crypto, a YouTube channel founded by Ben Armstrong, produces a variety of content focused on cryptocurrency news, projects and tokens and trading advice. The . . . → Read More: BitBoy Crypto sues fellow YouTuber Atozy for defamation over shilling claims

Here’s why holding $20.8K will be critical in this week’s $1B Bitcoin options expiry

Bitcoin (BTC) experienced a 16.5% correction between Aug. 15 and Aug. 19 as it tested the $20,800 support. While the drop is startling, in reality a $4,050 price difference is relatively insignificant, especially when one accounts for Bitcoin’s 72% annualized volatility.

Currently, the S&P 500’s volatility stands at 31%, which is significantly lower, yet . . . → Read More: Here’s why holding $20.8K will be critical in this week’s $1B Bitcoin options expiry

A bullish Bitcoin trend reversal is a far-fetched idea, but this metric is screaming ‘buy’

Bitcoin (BTC) price remains pinned below $22,000 as the lingering impact of the Aug. 19 sell-off at $25,200 continues to be felt across the market. 

According to analysts from on-chain monitoring resource Glassnode, BTC’s tap at the $25,000 level was followed by “distribution” as profit-takers and short-term holders sold as price encountered a trendline . . . → Read More: A bullish Bitcoin trend reversal is a far-fetched idea, but this metric is screaming ‘buy’

What crashed the crypto relief rally? | Find out now on The Market Report

On this week’s “The Market Report” show, Cointelegraph’s resident experts discuss some of the main factors that contributed to the collapse of this bear market rally.

To kick things off, we broke down the latest news in the markets this week

Bitcoin (BTC) to lose $21K despite miners’ capitulation exit? Five things to . . . → Read More: What crashed the crypto relief rally? | Find out now on The Market Report

Bitcoin price eyes $22K as US PMI data hits lowest since May 2020

Bitcoin (BTC) headed for multi-day highs after the Aug. 23 Wall Street open as United States economic data tripped up the dollar.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar suffers as data shows incomes “squeezed”

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it eyed $21,700 at the time of writing, . . . → Read More: Bitcoin price eyes $22K as US PMI data hits lowest since May 2020

Bitfinex offers new chain split tokens ahead of Ethereum Merge

iFinex, the company responsible for Bitfinex Derivatives, announced on Tuesday the launch of a new service offering available to users before the highly-anticipated Ethereum Merge. The exchange now offers Ethereum Chain Split Tokens (CSTs).

Tokens available to users represent the two systems involved in the Merge: ETHW, which is proof-of-work (PoW) and ETHS, . . . → Read More: Bitfinex offers new chain split tokens ahead of Ethereum Merge

Crypto City Guide to Prague: Bitcoin in the heart of Europe

Prague is the birthplace of the world’s first hardware wallet, the first Bitcoin mining pool, and, reportedly, even the first Bitcoin cafe. It is among the most affluent cities in Central Europe, visited by millions of tourists each year.

Ranked as one of Europe’s most charming and beautiful cities, Prague is a burgeoning tech . . . → Read More: Crypto City Guide to Prague: Bitcoin in the heart of Europe

DBS bank reports 4x growth in Bitcoin buys on DDEx exchange in June

A major cryptocurrency selloff in June 2022 has sparked more interest in Bitcoin (BTC) from institutional investors, according to data from one of the biggest banks in Singapore.

The total number of trades on DDEx more than doubled in June 2022 as compared to April 2022 amid investors’ growing appetite for digital assets . . . → Read More: DBS bank reports 4x growth in Bitcoin buys on DDEx exchange in June

Data shows Bitcoin and altcoins at risk of a 20% drop to new yearly lows

After the rising wedge formation was broken on Aug. 17, the total crypto market capitalization quickly dropped to $1 trillion and the bulls’ dream of recouping the $1.2 trillion support, last seen on June 10, became even more distant. 

Total crypto market cap, USD billion. Source: TradingView

The worsening conditions are not exclusive to . . . → Read More: Data shows Bitcoin and altcoins at risk of a 20% drop to new yearly lows

Canaan exec says opportunity outweighs crisis as Bitcoin miners struggle with shrinking profits

2022 has been an exceptionally rough year for the crypto market, and the last few months of Bitcoin’s (BTC) price action could be a sign that bears aren’t even close to being ready to let up. Crumbling crypto prices also equate to diminishing profits for Bitcoin miners and this week’s regulatory action by . . . → Read More: Canaan exec says opportunity outweighs crisis as Bitcoin miners struggle with shrinking profits

Cryptocurrencies react to Jackson Hole, Fed rate hike plans and a weakening bear market rally

The European stock markets and the United States equities markets are both deep in the red on Aug. 22 as investors fear that aggressive rate hikes may not be off the table. 

Another thing keeping investors nervous could be the upcoming  Jackson Hole economic symposium, which is scheduled to begin on Aug. 25. Investors . . . → Read More: Cryptocurrencies react to Jackson Hole, Fed rate hike plans and a weakening bear market rally

FCA highlights limited role as unregistered businesses continue to operate

The number of unregistered cryptocurrency-related businesses continues to outweigh those signed up with the United Kingdom’s Financial Conduct Authority. Crypto.com became the latest business from the cryptocurrency ecosystem to register with the FCA, joining a list of a confirmed 37 companies with the green light to offer services in the country.

Just seven businesses . . . → Read More: FCA highlights limited role as unregistered businesses continue to operate

Bitcoin whales attack sellers at $22.3K as euro drops below USD parity

Bitcoin (BTC) drifted near $21,000 on the Aug. 22 Wall Street open as the new week began without a rebound.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView European commodity surge hammers euro

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD failing to summon a comeback after last week’s 11.6% losses.

The pair put . . . → Read More: Bitcoin whales attack sellers at $22.3K as euro drops below USD parity

Ethereum advances with standards for smart contract security audits

The Ethereum ecosystem continues to witness a flurry of activity that has individuals and organizations deploying token contracts, adding liquidity to pools and deploying smart contracts to support a wide range of business models. While notable, this growth has also been riddled with security exploits, leaving decentralized finance (DeFi) protocols vulnerable to hacks . . . → Read More: Ethereum advances with standards for smart contract security audits

Here’s 5 cryptocurrencies with bullish setups that are on the verge of a breakout

The S&P 500 ended its four-week-long recovery last week after minutes from the Federal Reserve’s July meeting hinted that the central bank’s rate hikes will continue until inflation is under control. Members of the Fed said there was no evidence that inflation pressures appear be easing.

Another dampener was the statement by St. Louis . . . → Read More: Here’s 5 cryptocurrencies with bullish setups that are on the verge of a breakout

3 reasons why the Bitcoin price bottom is not in

Bitcoin (BTC) recovered modestly on Aug. 20 but remained on course to log its worst weekly performance in the last two months.

Bitcoin hash ribbons flash bottom signal

On the daily chart, BTC’s price climbed 2.58% to $21,372 per token but was still down by nearly 14.5% week-to-date, its worst weekly returns since mid . . . → Read More: 3 reasons why the Bitcoin price bottom is not in

Web3 games incorporate features to drive female participation

Although there is still an apparent lack of women in the Web3 sector, blockchain-based games geared toward women may help drive inclusivity. A recent report from the Entertainment Software Association found that 48% of gamers in the United States identify as female. It has also been noted that nearly half of all gamers in . . . → Read More: Web3 games incorporate features to drive female participation

Who accepts Ethereum as payment?

Taking payment in Ethereum brings in a gamut of advantages for both users and entrepreneurs.

Transitioning to a blockchain-based ecosystem brings in a string of advantages for users as well as entrepreneurs. Here is a drop-down detailing why accepting payment in Ethereum works well for the customers of an enterprise:

Additional . . . → Read More: Who accepts Ethereum as payment?

BlockFi tops revenue grower list with 250,000% increase, BitGo aims to sue Galaxy Digital, and Bitcoin’s price drops: Hodler’s Digest, Aug. 14-20

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 Fed to issue long-awaited guidelines for granting master accounts . . . → Read More: BlockFi tops revenue grower list with 250,000% increase, BitGo aims to sue Galaxy Digital, and Bitcoin’s price drops: Hodler’s Digest, Aug. 14-20

The Real Deal? Peter McCormack’s Bedford Bitcoin Bet scores more than goals

The Bitcoin Standard has many formations. For some, selling all possessions and living off magic internet money is key; for others, it’s about sweeping every spare penny into Satoshis. For popular podcaster Peter McCormack–an avid football fan–it meant buying his local club and signing Bitcoin (BTC) onto the team sheet. 

Bitcoin advocate McCormack acquired . . . → Read More: The Real Deal? Peter McCormack’s Bedford Bitcoin Bet scores more than goals

3 reasons why Bitcoin’s drop to $21K and the market-wide sell-off could be worse than you think

On Friday, August 19, the total crypto market capitalization dropped by 9.1%, but more importantly, the all-important $1 trillion psychological support was tapped. The market’s latest venture below this just three weeks ago, meaning investors were pretty confident that the $780 billion total market-cap low on June 18 was a mere distant memory.

Regulatory . . . → Read More: 3 reasons why Bitcoin’s drop to $21K and the market-wide sell-off could be worse than you think

Celsius Network coin report shows a balance gap of $2.85 billion: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.

This past week, Celsius’s financial troubles mounted further as a new coin report showed the company had a balance gap of $2.85 billion, more than double what . . . → Read More: Celsius Network coin report shows a balance gap of $2.85 billion: Finance Redefined

Price analysis 8/19: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, AVAX

Bitcoin (BTC) and most major altcoins witnessed a sharp sell-off on Aug. 19, but there does not seem to be a specific trigger for the sudden drop. The sharp fall resulted in liquidations of more than $551 million in the past 24 hours, according to data from Coinglass.

Barring a V-shaped bottom, other formations . . . → Read More: Price analysis 8/19: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, AVAX

Ethereum Merge prompts miners and mining pools to make a choice

The Ethereum blockchain is all set to make its highly anticipated transition from its current proof-of-work (PoW) mining consensus to proof-of-stake (PoS). The Merge date is officially scheduled for Sept. 15–16 after the successful final Goerli testnet integration to the Beacon Chain on Aug. 11.

At present, miners can create new Ether (ETH) by . . . → Read More: Ethereum Merge prompts miners and mining pools to make a choice

Merkle trees vs. Verkle trees, Explained

Merkle trees are employed in Bitcoin (BTC) and other cryptocurrencies to more effectively and securely encrypt blockchain data. Verkle trees allow for smaller proof sizes, particularly important for Ethereum’s upcoming scaling upgrades.

But, how do you identify a Merkle tree? Leaf nodes, non-leaf nodes and the Merkle root are the three essential . . . → Read More: Merkle trees vs. Verkle trees, Explained

Fake employees and social attacks: Crypto recruiting is a minefield

Hiring in the crypto world can be difficult. Web3 companies are often disorganized and lack HR departments. Developers sometimes want to remain anonymous — even to their potential employers.

Some employees don’t exist at all, while others are secretly juggling three other remote gigs. Then there are those who pretend to be employees . . . → Read More: Fake employees and social attacks: Crypto recruiting is a minefield

SBI lost 40% of hash rate after stopping mining in Russia: Data

Japanese financial giant SBI Holdings has partly terminated cryptocurrency mining in Russia due to geopolitical uncertainty and the crypto winter.

SBI Holdings suspended mining operations in Russia’s crypto mining-rich region of Siberia, citing reasons like the Russia-Ukraine conflict and the ongoing bear market, Bloomberg reported on Thursday.

The Japanese online brokerage shut down the . . . → Read More: SBI lost 40% of hash rate after stopping mining in Russia: Data

Can exchanges create imaginary Bitcoin to dump price? Crypto platform exec answers

One of the most substantial value propositions of Bitcoin (BTC) is that no one can create more of it apart from its fixed supply. However, an executive from a crypto exchange made a bold claim that some exchanges can create and sell BTC that’s only in their system, not on the blockchain, to . . . → Read More: Can exchanges create imaginary Bitcoin to dump price? Crypto platform exec answers

Crypto market bloodbath leads to over $500M in liquidations in 24 hours

The crypto market registered a major slump on Friday, resulting in major cryptocurrencies losing key support and falling to new monthly lows after a prolonged bullish surge over the past month.

Bitcoin (BTC), which was looking to break through the $25,000 resistance level last week, fell below $22,000 to register a new two-week low . . . → Read More: Crypto market bloodbath leads to over $500M in liquidations in 24 hours

Weak address growth points to Bitcoin price failing to sustain $25K

Bitcoin (BTC) is staging a repeat of price action from May with its latest drop, the latest data shows.

As the dust settles on a 6% comedown for BTC/USD, analysis argues that its trip to $25,000 was never meant to last.

Realized price comes back to haunt the BTC chart

After taking some by . . . → Read More: Weak address growth points to Bitcoin price failing to sustain $25K

Hodlnaut cuts 80% of staff, applies for Singapore judicial management

Cryptocurrency lending firm Hodlnaut has cut most of its workforce and has applied to be placed under judicial management due to bleak financial circumstances.

Hodlnaut, which offers interest-bearing cryptocurrency investment options in vetted institutions, confirmed the dire state of affairs on Friday. The company’s poor financial position has been put down to losses . . . → Read More: Hodlnaut cuts 80% of staff, applies for Singapore judicial management

Bitcoin ‘very bearish’ below $22.5K, says trader as BTC price dives 6%

Bitcoin (BTC) fell rapidly on Aug. 19 as the culmination of a week’s sideways action ended in disappointment for bulls.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView New lows “just a matter of time”

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it dropped 6.2% in a single hourly candle.

Reacting, traders . . . → Read More: Bitcoin ‘very bearish’ below $22.5K, says trader as BTC price dives 6%

Wife of arrested Tornado Cash dev forbidden to speak with him — Rally organized

Ksenia Malik, the wife of Tornado Cash creator Alexey Pertsev, has lashed out at Dutch authorities for treating her husband like a “dangerous criminal” following his arrest last week.

The Dutch Fiscal Information and Investigation Service (FIOD)  arrested Pertsev on Aug. 12 over an alleged use of the Ethereum-based privacy tool to . . . → Read More: Wife of arrested Tornado Cash dev forbidden to speak with him — Rally organized

Options data shows Bitcoin’s short-term uptrend is at risk if BTC falls below $23K

Bitcoin (BTC) briefly broke above $25,000 on Aug. 15, but the excitement lasted less than an hour and was followed by a 5% retrace in the next five hours. The resistance level proved to be tougher than expected but may have given bulls false hope for the upcoming $335 million weekly options expiry.

Investors’ . . . → Read More: Options data shows Bitcoin’s short-term uptrend is at risk if BTC falls below $23K

Bitcoin ‘liveliness’ lowest since 2021 amid new 5-year BTC hodl record

Bitcoin (BTC) long-term holders are knuckling down as a record portion of the BTC supply stays dormant for years.

Data from on-chain analytics firm Glassnode confirms that the percentage of the supply now stationary for at least five years is higher than ever.

2017 BTC buyers not this year’s sellers

Bitcoin has recovered almost . . . → Read More: Bitcoin ‘liveliness’ lowest since 2021 amid new 5-year BTC hodl record

Korean financial watchdog to block tens of unregistered exchange websites

Unregistered cryptocurrency exchanges operating in South Korea could see their services grind to a halt as the Korea Financial Intelligence Unit (FIU) takes action against 16 foreign-based firms.

The FIU has notified its investigative authority that 16 virtual asset service providers have been carrying out business without the necessary registrations. Major exchanges, including . . . → Read More: Korean financial watchdog to block tens of unregistered exchange websites

Coinbase would rather shut down staking than enable on-chain censorship — Brian Armstrong

In light of the recent ban on crypto mixing tool Tornado Cash and the subsequent arrest of the Tornado Cash developer, there has been a growing debate over whether crypto services providers would choose decentralization or censorship as  form of compliance.

The question has become more prominent as Ethereum is moving from its . . . → Read More: Coinbase would rather shut down staking than enable on-chain censorship — Brian Armstrong

Chinese mining giant Canaan doubles profits despite the blanket crypto ban

Major Chinese cryptocurrency miner manufacturer Canaan appears to have no issues with the local ban on crypto, as the company’s overall performance has continued to grow in 2022.

Canaan officially announced its financial results for the second quarter of 2022 on Thursday, reporting a 117% increase in gross profit from the same period of . . . → Read More: Chinese mining giant Canaan doubles profits despite the blanket crypto ban

Bitcoin price heads above $23.5K after highest EU inflation in history

Bitcoin (BTC) shifted higher on Aug. 18 as the latest data confirmed the European Union’s highest ever inflation.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Support and resistance close in on BTC spot price

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD passing $23,500 at the time of writing, having preserved $23,000 as . . . → Read More: Bitcoin price heads above $23.5K after highest EU inflation in history

Ripple CTO lashes back at Vitalik Buterin for his dig at XRP

In a discussion that started around two Ontario crypto exchanges’ recent 30,000-Canadian-dollar limit on altcoins purchases — which excluded Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) — Ethereum co-founder Vitalik Buterin took a dig at XRP, which Ripple chief technology officer David Schwartz didn’t take very kindly.

Buterin, in a response to a tweet, lauded the . . . → Read More: Ripple CTO lashes back at Vitalik Buterin for his dig at XRP

3 cloud providers accounting for over two-thirds of Ethereum nodes: Data

The majority of 4,653 active Ethereum nodes are in the hands of centralized web providers like Amazon Web Services (AWS), which could “expose Ethereum to central points of failure,” according to crypto analytics platform Messari.

A Monday post shows that three major cloud providers account for 69% of hosted nodes on the Ethereum Mainnet, with . . . → Read More: 3 cloud providers accounting for over two-thirds of Ethereum nodes: Data

Aid for Ukraine’s $54M crypto fund buys vests, scopes and UAVs

The crypto community has poured in an impressive $54 million worth of crypto funds through Aid For Ukraine, aimed at supporting the country’s military efforts against Russia, the Ukrainian Deputy Prime Minister has revealed. 

The $54 million has been funneled in through the Ukrainian government-run initiative Aid For Ukraine, according to Ukraine’s Deputy . . . → Read More: Aid for Ukraine’s $54M crypto fund buys vests, scopes and UAVs

3 strategies investors might use to trade the upcoming Ethereum Merge

The Ethereum network’s long-awaited transition from proof-of-work to proof-of-stake is set to occur from Sept 15 to 16 and for the last year, traders and analysts have been discussing various outcomes for the upgrade and possible trading strategies. 

Let’s take a look at three options investors and traders have.

Hodl ETH to . . . → Read More: 3 strategies investors might use to trade the upcoming Ethereum Merge

Economic design changes will affect ETH’s value post-Merge, says ConsenSys exec

As the Ethereum Merge draws near, many are speculating on its economic effects. To provide a clearer view to those who anticipate the major upgrade, Lex Sokolin, the head economist at ConsenSys, shared his insights in an interview with Cointelegraph. 

The expert discussed the effect of the Merge on users, developers and businesses. . . . → Read More: Economic design changes will affect ETH’s value post-Merge, says ConsenSys exec