Author: dfmines

Cryptocurrency News and Public Mining Pools

Biggest Movers: LTC Climbs to Highest Level Since May

Litecoin rose to a seven-month high to start the week, as cryptocurrency markets continued to react to the latest U.S. nonfarm payrolls figures. The token was up for a second consecutive session, climbing to its highest point since May. Shiba inu was also a notable gainer on Monday. Litecoin (LTC) Litecoin (LTC) raced to a […]

Malta prepares to revise regulatory treatment of NFTs

The revision seeks to remove nonfungible tokens from Malta’s Virtual Financial Assets Framework.

Bitcoin Kicks Off Week Above $17,000, Market Sentiment Turns Optimistic

Bitcoin is seeing some green during this week’s market opening and seems poised to reclaim higher levels in the short term. The number one crypto by market cap experienced some of its worst months in history, but the bulls were able to hold the line at around $15,500.  Related Reading: Why Chiliz Is Losing Heat Despite World Cup Pomp; CHZ Down Over 30% Now, the macroeconomic outlook is changing and could start supporting further profits for risk-on assets. As of this writing, Bitcoin trades at $17,200 with 2% and 5% profits in the last 24 hours and seven days, respectively.  Bitcoin Market Is Getting Back To Normal Data from crypto derivatives exchange Deribit indicates a shift in market sentiment. Participants are more optimistic about Bitcoin after the collapse of the crypto exchange FTX and the fall from the grace of its co-founder and former CEO Sam Bankman-Fried.  This event pushed Bitcoin to a new yearly low and back to its 2020 levels. As seen in the chart below, the BTC Open Interest Weighted Annualized Basis shows that the prices of options contracts were in backwardation.  In other words, options were cheaper than their underlying asset, Bitcoin, following the FTX collapse. The last time BTC saw similar backwardation was in July 2021, during the second capitulation event that triggered a 40% crash in the crypto market.  However, the chart shows that in July 2021, market sentiment and backwardation were far from their November 2022 levels. In addition, the chart shows that the heavy selling triggered by recent events is decreasing, and the crypto market is normalizing. Deribit stated: In July 21, the whole curve didn’t invert as the longer-dated contracts still traded at a premium. Since 8 November this year, we however see the whole curve trading below spot. BTC’s Price Short-Term Rally Is More Likely Paired with the above, Deribit claims the BTC 25 put skew, a metric used to gauge market sentiment by looking at the demand for put (sell) options contracts, and their implied volatility is also on the decline. Puts were expensive during the FTX fallout but are returning to their “normal” levels. Deribit said: A drop in 1 Month Skew indicates the shorter-dated out the money calls are getting more expensive relative to the out the money puts. In other words, market participants are buying more calls (buy) contracts. These options have a short-term expiration date. Thus, people might be gearing up for a Christmas or end-of-the-year rally.  Related Reading: Metaverse Token Axie Infinity (AXS) Suddenly Pumps 25% – What’s Happening? As NewsBTC reported, the max pain point, the strike price at which a large portion of the contract will expire worthless, stands at $20,000. 

How can UK-based businesses accept Bitcoin?

Through Bitcoin payment processors like BitPay, businesses in the UK can offer BTC as a payment method during checkout.

Curated list of ETH wallets with offline signing functionality?

With the current, and long overdue rush to self-custody, newbies are faced with the choice of either a software or hardware wallet. Well, there is a 3rd choice. And that's software wallets that support offline signing. Has anyone put together a curated list of ETH wallets with offline signing support? submitted by /u/EmilyLovs…
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USDC issuer Circle terminates SPAC merger with Concord

The deal previously valued Circle at $4.5 billion in July 2021 before an upwards revision to $9 billion in February 2022.

North Korean Lazarus Group Linked to New Cryptocurrency Hacking Scheme

The Lazarus group, a North Korean hacking organization previously linked to criminal activity, has been connected to a new attack scheme to breach systems and steal cryptocurrency from third parties. The campaign, which uses a modified version of an already existing malware product called Applejeus, uses a crypto site and even documents to gain access […]

Brazilian crypto industry gets regulatory clarity amid global uncertainty

The recent regulatory framework from the Brazilian Congress will benefit the country’s financial institutions and bridge local liquidity with global markets.

BTC price levels to watch as Bitcoin holds $17K into the market open

BTC price strength allows cautious Bitcoin traders outline targets above $17,500.