Category: Cryptocurrency News

Last week saw one of the largest losses of value in the history of cryptocurrency. Bitcoin and the general crypto market crisis was hit by the Terra ecosystem’s collapse. Bitcoin plummeted to under $30,000. Obviously, institutional players took advantage of the circumstance. Investors Flood Bitcoin Institutions reportedly invested $300 Million into exchange-traded Bitcoin funds last week, according to reports. According to CoinShares, the previous week recorded record weekly crypto inflows for the year 2022. The net weekly inflows were $274 million in the previous week. While North American investors pumped $312 million into cryptocurrency last week, European investors saw a $38 million net outflow. According to the CoinShares report: Investors saw the recent UST stable coin de-peg and its associated broad sell-off as a buying opportunity. Bitcoin was the primary benefactor, with inflows totalling US$299m last week, suggesting investors were flocking to the relative safety of the largest digital asset. CoinShares’ head of research, James Butterfill, expressed amazement at the unprecedented volume of bullish investments in Bitcoin funds despite increased market volatility. “It’s the highest weekly total since October 2021, and the 19th highest since records began in 2015,” he said. Source: Coinshares Bitcoin’s price peaked at $69,000 in November of last year, and it has since been on a steady decline, losing more than 50% of its value. The Bitcoin price has dropped by more than 20% since the beginning of May 2022. Related reading | Grayscale Met With The SEC, Tried To Convince Them To Turn The GBTC Into An ETF Would Price Surge? Bitcoin plummeted against the US dollar and hit the $29,000 support level. BTC must settle above the $30,500 resistance to begin a solid rise. Bitcoin dipped below $30,000 after failing to gain traction above $31,000. The price is currently trading above both the $30,000 and the 100 hourly simple moving averages. A break over a connecting negative trend line with resistance near $29,600 was seen on the hourly chart of the BTC/USD pair. The pair could acquire bullish momentum if it closes above the $30,500 resistance. Although the price dipped below $29,500, bulls were active near $29,000. The price has recovered losses after forming a low near $29,060. Above the $29,500 barrier, there was a clear upward movement. The price surpassed the 23.6 percent Fib retracement level of the latest drop from the swing high of $31,390 to the low of $29,060. There is immediate resistance near the $30,300 mark. It’s approaching the 50% Fib retracement level of the latest drop from the swing high of $31,390 to the low of $29,060. A solid close above $30,300 might pave the path for a large gain. BTC/USD trades slightly above $30k. Source: TradingView Around $31,400 is the next major resistance level. In the next sessions, a clear break over the $30,300 and $31,400 resistance levels could kick-start a new upswing. Near $32,500 could be the next big resistance level, after which the price could rise to $34,000. If bitcoin fails to break past the $31,400 barrier mark, it could fall further. On the downside, $29,600 provides immediate support. Around $29,000 is the first substantial support. If the price breaks and closes below the $29,000 support level, it might herald the start of a significant fall. Related reading | TA: Bitcoin Holds Key Support, Why BTC Must Clear This Resistance Featured image from iStockPhoto, Charts from TradingView.com

This is the Top 10 on 16.12.2017 with their corresponding prices: ​ Top 10 on 16.12.2017 Now let's look at their prices around 1 year later when BTC hit its low after the 2017 bullrun on 14.12.2018: ​ prices 14.12.2018 Yes, everything lost a lot a value. Some much more than others but let's go…
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After I just randomly talked to some people about Crypto. They all seem to know about the few big ones like Bitcoin and Dogecoin mainly. They also partially knew what Crypto is about, technology to programm without any big authority, but they still mostly saw it as a stock market like investment. The interesting thing…
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League of Kingdoms offers players a chance to not just rule their kingdom but own it in the form of an NFT.

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Hello, crypto-enthusiasts! Just wanna say a few words about my startup Don't wanna spam and leave a link, if you are interested you can easily find us 🙂 We are a smart DEX aggregator! Droidex aggregates decentralized exchanges and DeFi services in one smart interface to streamline user swaps with decentralized finance. Our mission is…
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India’s central bank, the Reserve Bank of India (RBI), has expressed concerns that cryptocurrencies could lead to the dollarization of a part of the Indian economy. “It will seriously undermine the RBI’s capacity to determine monetary policy and regulate the monetary system of the country.” RBI’s Crypto Warnings and Dollarization of Economy The Reserve Bank […]

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Taki, a blockchain-based social media platform that rewards users for their engagement with quality content, has announced a milestone of reaching approximately 600K users on the product waitlist. With the IEO launch of the $TAKI token, TAKI DAO raised $360K USD from individuals around the world. This, along with the fact that trading started at 10x the IEO-price of $0.04, is a strong indicator of community excitement. Trading volume peaked at $58M before settling down with three exchanges adding the token by the IEO day’s end. Earlier this month, Taki raised $3.45MM USD through 11 marquee global web3 investors, including Solana Ventures, CoinDCX, OKX Blockdream Ventures, Alameda Research, Formless Capital, Gemini Frontier Fund, and Coinbase Ventures. While expressing excitement over the achieved milestones, Taki’s co-founder Sakina Arsiwala said, “Taki wants to empower creators and give them a platform to bring forward their content and earn an income. With this IEO launch, users can better  understand our vision and gain more confidence in Taki’s future growth.” The success of Taki’s IEO is a testament to the growing interest in cryptocurrency and blockchain in India. What is Taki? Taki’s rapid growth and adoption can be attributed to its unique value proposition, which is to establish a first-of-its-kind engage-to-earn crypto economy. Users can engage with their favorite content creators, create their own content, and earn TAKI tokens along the way. Taki was founded to be easily accessible and serve as a gateway into Web3 while addressing the fast-growing demand for alternative social media engagement channels, especially given the rise of censorship across centralized social media platforms. With Taki, users not only have the freedom to engage with the content they love, but they also get cryptocurrency rewards for producing their own content. Powered by the RLY protocol and built on Solana’s blockchain, Taki can get accessed through a mobile app that is capable of some of the fastest transaction throughputs in Web3. Taking into account the interest shown by the over 600,000 users on its waitlist, Taki is already proving to be more than just an alternative, but a next-generation social media platform for all. According to the platform’s co-founder Arsiwala, “The platform is designed in a way that anyone can use it, even those who are not well versed with crypto. This is where the $TAKI token will play its charm.” Arsiwala added that, “With $TAKI token, creators, users, and crypto-enthusiasts will be able to monetize their engagement and content on the platform.” Moving towards web3 Social Media Over the years, there has been a growing shift towards decentralization as users become more aware of the benefits of web3 applications. At its core, web3 products such as Taki enable users to both have more control over the content they produce and also get rewarded for engagement. This is in stark contrast to the current web2 social media landscape, which is dominated by a handful of centralized platforms that have been known to censor content and throttle user growth. The Taki team believes that now is the time for a shift in how social media platforms operate. Taki is governed by a DAO (Decentralized Autonomous Organization), which ensures that decisions are made swiftly and in a decentralized manner. This decreases the chances of centralized censorship taking place. According to the team, creators will see their content distributed across multiple platforms instantly, with rewards going directly into their wallets within minutes. As noted by Arsiwala, “Taki wants to empower creators and give them a platform to bring forward their content and earn an income.” Conclusion Despite regulatory uncertainty concerning crypto by the Indian government, the Indian population remains one of the most crypto-savvy demographics in crypto and blockchain worldwide. After the ICO boom of 2017, India’s government has refrained from terming crypto as legal. Even so, the country has moved forward to introduce a 30% tax on cryptocurrency transactions, which could be a sign of good things to come for the overall crypto community in India. Given the growing demand for web3 applications in the country, Taki is progressing on its mission to be a gateway for crypto-enthusiasts in India and around the world.