The world woke up to a “sea of red” which was not necessarily limited to the financial markets, as Russia declared war on Ukraine early Thursday. The traditional financial markets along with the crypto markets were sliding bearish for the past week and saw a rapid decline early on Thursday. Apart from the crude oil
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Lord Fusitu’a, a former member of the Tongan Parliament, has shared a timeline for the country’s plan to adopt Bitcoin (BTC). A Tongan nobleman, Fusitu’a had previously disclosed the four-step plan, a copy of the Salvadoran Bitcoin playbook. Step one is remittance, two is legal tender, three is Bitcoin mining and four is moving national
As some industry executives have questioned Bitcoin (BTC) as being the digital gold amid a massive market crash on Thursday, other experts continued to support the digital gold narrative for now, or until whale investors like MicroStrategy cash out. Ki Young Ju, CEO of South Korean on-chain analytics resource CryptoQuant, took to Twitter on Thursday
Bitcoin (BTC) edged higher after Wall Street opened on Feb. 24 with Russia’s Ukraine invasion and its aftermath still top on markets’ agenda. Risk sentiment set to be “dominant driver” in crypto Data from Cointelegraph Markets Pro and TradingView showed BTC/USD nearing $36,400 on Bitstamp two hours after the opening bell, up $2,000 from its
Music-based nonfungible tokens are an emerging frontier in the crypto and NFT space, but the first questions that come to mind are: What are they? And what are their utility? Music NFTs are relatively new to the scene and cannot be pinned down by one definition. At the most basic level, however, they are verifiable
Puma is the latest in a growing list of major brands to purchase a decentralized URL and reveal their nonfungible token, or NFT, by changing their Twitter handle to Puma.eth. The German sportswear brand registered the domain name with the Ethereum Name Service, or ENS. welcome PUMA.eth (@PUMA) https://t.co/BuPplzfJgR — ens.eth (@ensdomains) February 21, 2022
Amid a marketwide downturn across major crypto assets over the past week, institutional traders tipped almost $89 million into Bitcoin (BTC) funds. However, the money men failed to ba Ethereum (ETH) investment products, which saw outflows totaling $15.2 million. Despite Cointelegraph reporting earlier this week that activity on the Bitcoin network was down 30% since
Ethereum’s native token Ether (ETH) could reach above $10,000 in the coming weeks as it paints what appears to be an “ascending triangle” technical pattern. Ethereum price technicals: bullish signs Ascending triangles are bullish continuation setups that appear during an uptrend. Analysts confirm their presence after the price rises upward inside a rising right-angle triangle
zkSync, a provider of zero-knowledge blockchain solutions, has announced the successful deployment of its Rollup protocol on the Ethereum (ETH) testnet. The deployment is seen as a positive development by proponents of Ethereum, as it removes the need for human operators to validate transactions. Last year, the creators of zkSync described their vision for a permissionless,
StarkNet, the Layer-2 scaling solution established by StarkWare, announced that the first few decentralized apps (DApps) built on the platform have been deployed since it launched on the Ethereum Mainnet in November. StarkWare shared the nine projects listed by zkRollups, a digital directory for the zero-knowledge ecosystem, in a Twitter thread. The list ranges from decentralized
Blockchain company Bitfury announced the launch of a new crypto-mining data center in Ontario, Canada. The new crypto mining center adds to the list of existing Canadian sites currently operating in Drumheller, Alberta and Medicine Hat. Bitfury partnered with Hut 8 Mining, a Toronto Stock Exchange-listed Bitcoin (BTC) mining company, to set up mining operations
Move aside Bitcoin (BTC), stablecoins are holding the spotlight. Crypto research outlets Arcane Research and CryptoRank confirm that stablecoin supply hit the milestone amount of $180 billion. The growth in stablecoins continues to outpace the rest of the market, up 6% in the past 30 days. In times of market volatility, stablecoins can offer price stability, backed
Terra (LUNA) has fared better than its top crypto rivals when it comes to withstanding the negative market impacts of the ongoing Ukraine-Russia conflict. LUNA’s price rallied nearly 18% this week to over $58, more than Bitcoin (BTC), whose returns in the same period came out to be a little over 1.5%. Similarly, the Terra
Just as it started to look like the crypto market was staging a comeback and bracing for a new bull run, geopolitical tensions stepped in to drive the price of Bitcoin (BTC) below $40,000 again, with most altcoins seeing deep red as well. Such periods of market uncertainty, however, are not unprecedented, and digital assets’
The European Commission, in coordination with other authorities, reportedly plans to have its financial watchdog group potentially oversee illicit transactions at crypto firms. According to a Tuesday Bloomberg report, a group of European Union member nations led by Germany and including The Netherlands, Spain, Austria, Italy and Luxembourg plan to include crypto firms under the
Global crypto and stock markets plunged after Russian President Vladimir Putin announced on a national broadcast that his army would conduct a “special military operation” in Ukraine. As the sun began to rise in Ukraine, the Russian army launched missiles around several areas of the country, including the capital of Kiev and the city of
Prime Minister of Canada Justin Trudeau has announced he will repeal emergency powers used to freeze $8 million from 210 bank accounts connected to Canadian ‘Freedom Convoy’ protestors, according to CBC news. On Feb. 24, Trudeau stated in a televised press conference that “we’re ready to confirm that the situation is no longer an emergency”
In the event of harsh Western sanctions as Russian forces invade Ukraine, retail customers could be at risk to lose their savings. Russians’ savings could be confiscated in response to sanctions against the country, according to Nikolai Arefiev, a member of the country’s Communist Party and vice-chairman of the Duma’s committee on economic policy. The
China’s hardline policy on crypto took another turn on Thursday as the country’s Supreme Court revised its judicial interpretation for illegal fundraising to include digital currency transactions. The Chinese Supreme Court issued a revised version of its “Decision on Amending the Interpretation of the Supreme People’s Court on Several Issues Concerning the Specific Application of
The United Arab Emirates is reportedly getting ready to start issuing federal licenses for virtual asset service providers (VASPs) by the end of the first quarter of 2022. The move is expected to become part of a complex regulatory framework that the Middle Eastern nation is looking to establish on its way to becoming one