Whoever coined the phrase “sell in May and go away” had brilliant insight and the performance of crypto and stock markets over the past three weeks has shown that the expression still rings true. May 20 has seen a pan selloff across all asset classes, leaving traders with few options to escape the carnage as
Celebrate the 12th Bitcoin Pizza Day together with Cointelegraph. Many crypto bull runs ago, Laszlo Hanyecz, programmer and early Bitcoin (BTC) miner, made history on May 22, 2010, when he traded 10,000 BTC for two large pizzas. It was the first real-world cryptocurrency transaction and legitimized Bitcoin in a major way. Check out Cointelegraph Store for
TerraUSD (UST) is an algorithmic stablecoin that is pegged at $1.00. But, on the evening of May 19, it was trading for $0.083. This isn’t supposed to happen, of course, but last week UST, along with its affiliated coin Terra (LUNA), performed a sort of death spiral that “wiped nearly $50 billion of investor wealth
Crypto markets remain volatile and a handful of seasoned traders believe that the bearish trend will continue as long as stock markets are chasing new lows. Most investors would agree that crypto is now in a bear market and the current price action for Bitcoin (BTC) and Ethereum (ETH) suggest that capitulation and consolidation are
Laurentino Cortizo, the president of Panama, has said he won’t sign off on a crypto bill recently approved by the country’s National Assembly without additional Anti-Money Laundering rules. Speaking at the Bloomberg New Economy Gateway Latin America conference on Wednesday, Cortizo said the bill recently passed by Panama’s legislature must go through legal checks before
The rise and fall of the Terra blockchain and family of related tokens is both one of the most convoluted and one of the most important stories happening in crypto right now. Assembled here is a plaintext explanation of what Terraform Labs built, why it got so big, why it imploded, what it means for
Bitcoin (BTC) may fall more than 40% from last week’s bottom, new data warns as one analyst confronts what he says is now a bear market. In a series of tweets on May 20, popular trader and analyst Rekt Capital argued that BTC/USD should dive to near $20,000 to conform to historical norms. Death cross
Ripple, an American FinTech firm, and FINCI, a Lithuanian FinTech firm, have partnered up to make retail remittances and B2B payments faster and more affordable. This is done through RippleNet’s On-Demand Liquidity (ODL), which uses XRP for cross-border payments that are crypto-enabled. This partnership will allow customers and businesses to make real-time payments while sparing
Bitcoin (BTC) hit 48-hour highs overnight into May 20 as U.S. dollar weakness gave bulls some much-needed respite. Dollar strength declines after 20-year record Data from Cointelegraph Markets Pro and TradingView recorded a high of $30,725 for BTC/USD on Bitstamp. Still struggling to flip $30,000 to reliable support, the pair nonetheless avoided a deeper retracement,
Ethereum’s long-awaited migration to a proof-of-stake (PoS) consensus mechanism, which has been pushed back time and time again, looks set to occur sometime in August. Hopefully. Preston Van Loon, a core developer of the Ethereum (ETH) network, told attendees at the Permissionless conference that the transition, known as the Merge, would occur sometime in August
The Commonwealth Bank of Australia (CBA) has put its plans for a second pilot program of crypto trading services on hold indefinitely and cut off access to those in the first round of testing. CBA sent Cointelegraph a transcript of a Tuesday bank briefing where CEO Matt Comyn said that he was still waiting on
A Dubai based couple has decided to be wed in the metaverse after legal problems stemming from their nationalities initially forced them to tie the knot in Georgia in 2019. After the wedding, the couple said they will use their own experience to help others get married in the metaverse as well. The Metaverse After
A new survey has found that over 80% of people would be motivated to take up more physical exercise if they were paid in cryptocurrency for their efforts. The survey, which was conducted by fitness website FitRated, asked 1,001 Americans for their thoughts on blockchain-related fitness technology. The survey found that a staggering 40% of
Over the past nine days, Bitcoin’s (BTC) daily closing price fluctuated in a tight range between $28,700 and $31,300. The May 12 collapse of TerraUSD (UST), previously the third-largest stablecoin by market cap, negatively impacted investor confidence and the path for Bitcoin’ price recovery seems clouded after the Nasdaq Composite Stock Market Index plunged 4.7%
In a bid to combat illegal activity and ‘regulatory arbitrage,’ a Swiss-based think tank has urged greater international cooperation on cryptocurrency regulation. On Monday, the Basel Institute of Governance and the International Academy of Financial Crime Litigators released a paper calling for further coordinated action against unlawful crypto-markets. Among the proposed solutions are greater cooperation
Bitcoin (BTC) support at the $30,000 level has proven to be quite resilient amidst the turmoil of the past two weeks with many tokens in the top 100 now showing signs of consolidation after prices bounced off their recent lows. During high volatility and sell-offs, it’s difficult to take a contrarian view and traders might
Avalanche (AVAX) has emerged as one of the worst-performing cryptocurrencies among the top-ranking tokens in the last 24 hours, partially due to fears connected to Terra (LUNA) and its a near-dead UST algorithmic stablecoin project. Avalanche price dips amid Terra’s tax evasion FUD AVAX’s price plunged by nearly 14% between May 18, where it traded
The top financial officials from the Group of Seven (G7) largest advanced industrial economies has called on the Financial Stability Board to speed up crypto-asset regulation, Reuters reported Thursday, citing a copy of a communique it had obtained. The officials from Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States were meeting
132-year-old Swiss asset management firm Julius Baer intends to offer exposure to cryptocurrencies and decentralized finance (DeFi) for its high net-worth clients. The firm’s CEO Philipp Rickenbacher confirmed the move into the cryptocurrency space during his delivery of the company’s strategy update for the next three years. Rickenbacher noted that the recent slump in the
Terra’s recent collapse has been repeatedly singled out as the main source of weakness affecting crypto assets, but it’s much more likely that a combination of factors are behind the start of this current bear market. At the same time that the market was reeling from the Terra saga, the 2-year mark for the next Bitcoin