Category: Cryptocurrency News

The Gazette further determines that this decision will enter into force 20 days after its publication, which is May 16.

Michael Morell Former acting director and deputy director of the CIA,conducted a sweeping review of Crypto's role in illicit activity. In his report, he noted that one expert said that If all criminals used Blockchain, we could wipe out illicit financial activity Morell concluded that Based on our research, I have come to believe that…
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Bitcoin and Ethereum have always been at the forefront for institutional investors. This is with good reasons too as not only are these the largest cryptocurrencies by market cap, but they are also the most popular with the best prospects. As time has gone on though, competition has become stiffer for the attention of institutional investors. The rise of other altcoins has put forward some formidable contenders for these two cryptocurrencies. Now, institutional investors are now moving away from the big two and pouring money into other altcoins, taking a completely bearish stance on Ethereum. Altcoins Steal Market Share Institutional investors have now fully turned their attention to fast-rising altcoins in the market. This is evidenced by the inflows that some of these altcoins saw over the past week. While the amount of inflow coming into the market has not been to previous high levels, the share that went to these altcoins has been higher. These altcoins getting more attention from institutional investors including the likes of Solana, Terra, Avalanches, and Algorant. Related Reading | Market Nosedive Sends Cardano (ADA) Deeper Into Bear Territory Not only did these altcoins see good inflows, but they also took up a majority of the inflows that were recorded for the week. Notable inflows include $1.8 million for Avalanche, $0.8 million for Solana, $0.7 million for Terra, and $0.2 million for Algorand. In total, these altcoins together brought in inflows of $3.5 million at a time when outflows are the order of the day for larger digital assets.  Crypto total market cap recovers to $1.8 trillion | Source: Crypto Total Market Cap on TradingView.com Institutional Investors Don’t Want Bitcoin, Ethereum Bitcoin has usually led the pack when it comes to inflows in the past always making up the majority of institutional investor inflows. However, its share of this market has continued to be on the decline. The pioneer cryptocurrency only recorded minor inflows that came out to $2.6 million for the one-week period. Related Reading | Dogecoin (DOGE) Jumps 30% After Elon Musk Buys Twitter As for Ethereum, ut has continued to record massive outflows. This indicates that institutional investors are pulling out of the digital asset at an alarming rate. This makes the third consecutive week of outflows for the asset with $16.9 million moving out of it only last week alone. This has brought Ethereum’s year-to-date outflows to a staggering $169 million. Bitcoin’s outflows for the week had slowed considerably compared to its counterparts. The digital asset has only seen $7.2 million in outflows. However, its month-to-date outflows remain high at $178 million. Blockchain equities are not faring too bad though. They recorded inflows up to $3 million for the same time period. While short bitcoin investment products saw minor inflows that came out to a total of $4 million.  Featured image from CryptoSlate, chart from TradingView.com

Dogecoin struggles to maintain its momentum, dropping steadily by 9%. And it seems investors are letting the chips fall where they may. Following the announcement that Elon Musk would buy Twitter, DOGE soared 26% and everything went bullish especially after the news that the Tesla CEO bought Twitter for $44 billion. Suggested Reading | Dogecoin (DOGE) Trading Volume Plunges – Here’s Why Musk Shakes Things Up For DOGE Apparently, the popular meme coin had a sharp spike in April 5 when Musk decided to join Twitter’s board with a 9.2% stake. Now, DOGE is losing all the gains and dropping hard in a short span of time. It seems that the buy pump following the Twitter acquisition of Musk was practically short-lived. Today, DOGE is slipping fast at 9%, according to CoinMarketCap. Currently, the DOGE value is a little above $0.14 per coin which reached its peak yesterday at around $0.1667. In the early months following its launch, DOGE surged and it even peaked at above $0.73 in May 2021. Since then, Dogecoin has had difficulty gaining traction despite being perpetually linked to the self-acclaimed “Dogefather” Musk. His clever memes and tweets stir more attention for dog-inspired meme coins. DOGE total market cap at $18.10 billion on the weekend chart | Source: TradingView.com Most Popular Dog-Inspired Meme Coin Dogecoin was a dog-inspired coin (Shiba Inu dog in particular) created as a joke. It was swiftly created in a matter of three hours. After its creation, Musk was very open about his support to DOGE (and other digital tokens), being what he calls as the people’s crypto. His snaps at Twitter directly impacts DOGE price. The centibillionaire’s influence on the crypto is definitely beyond hype because he can step on the gas and the brakes and it all just happens like clockwork. Suggested Reading | Dogecoin (DOGE) Jumps 30% After Elon Musk Buys Twitter DOGE On Twitter A lot of Dogecoin followers expected that Musk buying Twitter will help speed up DOGE’s tempo. It did for like 24 hours but the excitement and interest quickly dissipated. DOGE on Twitter is certainly something to look forward to. Currently, Twitter already allows tipping using Bitcoin and Ethereum. The social media juggernaut also allows customers to use their Ethereum NFTs as profile photos, being a part of their premium subscription.  With the addition of Dogecoin, customers will have more options in payments. Majority of cryptos are down by 3% at the moment. Shiba Inu has even slipped further down at 3% in the last 24 hours. Meanwhile, the Shiba Inu coin is now set at a market value of $0.00002326. It’s all looking a little bleak at the moment for the crypto world but better days are ahead.   Featured image from The Motley Fool, chart from TradingView.com

As the U.S. dollar challenges March 2020 highs, all bets are off when it comes to fresh Bitcoin price strength.

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Two EU citizens have been indicted for violating U.S. sanctions on North Korea when they jointly planned a crypto conference there.