Category: Cryptocurrency News

As U.S. Congress continues its crypto education at a measured pace, states race to explore the benefits of financial innovation.

The penalty comes after months of heightened regulatory attention to crypto lending platforms.

Bitcoin has been moving sideways during the past week with a 0.7% profit as it trades at $42,709. The first crypto by market cap has held on to critical support as it was rejected at the mid area of its current levels. Related Reading | Ukrainian Defense Efforts Bolstered By Crypto Donations Per a recent report from Bitbank’s crypto analyst, Yuya Hasegawa Bitcoin has seen selling pressure triggered by the possibility of a shift in monetary policy from the U.S. Federal Reserve (FED). In addition, the crypto market could be reacting to the rise in tensions around the Russia-Ukraine situation. The Russian Federation has been making several bullish announcements regarding cryptocurrencies, but as Hasegawa claims, the country could be preparing to use digital assets in case the situation escalates into a full-on conflict with Ukraine and a NATO intervention. The analyst said: (…) this move may be a crafty preparation to circumvent the possible financial sanction–like exclusion from the SWIFT–that could be enforced once the country starts to attack Ukraine. If this is the case, it could be bad press for bitcoin and the crypto industry as a whole, and it might spark a discussion to further regulate cross-border crypto payment. In this scenario, Bitcoin could extend its gains as investors acquire the cryptocurrency and precious metals to protect their wealth. However, any profits could be short-lived if the Russian-Ukraine situation impacts the U.S. stock market. Data from Material Indicators shows that Bitcoin could see support around the $41,000 area as $10 million in bids orders sit at those levels. $40,500 could mitigate any downside in case previous levels fail with $39,700 acting as the last line of defense against a return to previous lows. To the upside, Bitcoin faces major resistance as there are over $20 million in ask orders sitting at $44,000 alone. These orders could prevent any future bullish momentum to gain significant terrain, but they could also be operating as a psychological barrier and could be removed if the market shows strength. Bitcoin Investors De-Risk Their Positions A separate report from Glassnode Insights concurs with Hasegawa’s thesis and the fears about a potential conflict between Russia and Ukraine. These uncertainties were priced-in by the derivatives sector with the “futures term structure curve until March”. Bitcoin and crypto investors are de-risking their positions in futures and have been taking put options to hedge against any future downside. Glassnode added: Simultaneously, on-chain supply dynamics are remarkably stable, a likely indication that investors are prepared to ride out whatever storm lies ahead, preferring to utilize derivatives to hedge out risks. Overall, this speaks to the continuing maturation of the Bitcoin market, as liquidity deepens, and more comprehensive risk management instruments become available. Related Reading | TA: Bitcoin Breaks Key Support, Why BTC Could Dive Below $40K The spot sector and BTC on-chain inflows seem to be operating in favor of the bulls and dismissing any fear around the Ukraine-Russia situation.

I see everyone here is having a good laugh over that coinbase ad and yeah I do also. Spending 16M for an ad and the just putting on a QR-Code for the site, something everyone had access to, seems like a meme that they made themselves. But it's actually a lot more. It's what crypto…
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Was in L.A this weekend for the super bowl and saw this crypto IRA company trolling the crypto.com arena, they were parked outside So-Fi stadium for the super bowl too. Had to snap some pics, made me chuckle and think of y'all on this sub! Honestly though Alto Arena has a better ring to it…
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"The incoming hyper inflation will create an extremely bullish cryptocurrency market which will attract more and more investors to join." source: inferkit website A report from Kotaki Fund (the biggest Japanese HF) indicates that cryptocurrencies will rise to an unprecedented level of maturity during late 2022. A leaked internal memo from Kotaki Fund mentioned that…
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The processing power backing the Bitcoin network has tapped another all-time high (ATH) in 2022, reaching 246 exahash per second (EH/s) on February 12. After the network reached an ATH on January 15, a month later the hashrate increased by 12.43% — this despite the network’s mining difficulty coasting along at record highs as well. […]

Blocknative, the real-time blockchain infrastructure company, announced it has launched beta support for Fantom, a layer-1 EVM-compatible blockchain across its core mempool data platform, empowering Web3 developers, dApps, and traders within the Fantom ecosystem to leverage critical, pre-chain infrastructure to improve user visibility and experience. For Fantom developers and dApps, the partnership unlocks new capabilities…
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A CryptoPunk NFT has just set the record for the highest-selling punk so far. The collection which is more than three years old had been in obscurity for the longest time but with the rise of NFT popularity, they have become one of the most valuable collections in the NFT space. In a recent sale, CryptoPunk #5822 has set the record for the high-selling punk after selling for $23 million. CryptoPunk #5822 Sells For 8,000 ETH The CryptoPunk #5822 which had sold for 8,000 ETH, more than $23 million had been bought by the CEO of Chain, Deepak Thapliyal. It is the most expensive CryptoPunk NFT to be sold to date. Only one of 10,000 CryptoPunks that was created in 2017, the original owner of the CryptoPunk had paid less than 1 ETH for the piece. They had then held through the initial boom of the collection until now, where they finally sold their punk for more than 7,999 ETH in profit. Relaed Reading | Maximize Your Crypto Holdings With High Yield Farming On BNB100X It is no surprise that this one CryptoPunk had sold for this price. There have been a number of CryptoPunks that have been sold for significant amounts of money, running into the tens of millions of dollars. In total, the CryptoPunk collection has seen more than $9.3 billion in trading volume since it was first launched. Thapliyal who purchased CryptoPunk #5822 had leveraged his Compound Finance account to purchase the piece, according to him. It is important to note that the CEO had purchased what is one of the rarer CryptoPunks. This piece which is considered an “alien” in the compilation is one of only nine such pieces in the collection. This is why itself and its other eight counterparts are so expensive. Despite its high price tag, it is still not the most expensive NFT sold to date. That title belongs to Beeple’s Everydays NFT sale that took the market by storm. The piece had sold for a whopping $69 million, creating a record that no one has been able to break. NFT Holder Turns Down $1.2 Million While the CryptoPunk #5822 NFT is making waves in the space for its high price tag, another piece had made it into the spotlight for refusing to sell for a high price tag. The Bored Ape Yacht Club is an infamous collection of 10,000 NFTs that have also made its mark for selling expensive NFT pieces. Its pieces have sold across the board for millions of dollars but one holder is not partaking in this. Relaed Reading | Axie Infinity Smooth Love Potion (SLP) Explodes With 300% Gain This February The Golden Ape #1726 had turned down an offer to purchase their Ape for 420 ETH – $1.2 million. The holder of the Ape revealed to CryptoPotato that they had turned down the offer because it was basically a lowball offer. The piece is a rare one, one out of 46 gold fur apes that were released in the BAYC collection. Of all 46, only 1 piece has been sold below 1,000 ETH. “I rejected it [read: the offer] because gold fur apes are the rarest fur of BAYC. Also, it’s my personal brand, and I think with this brand, and owning the ape, I can continue to make residual income,” they told CryptoPotato. “There is only 1 out of 46 gold fur apes listed for sale below 1000 ETH and I would like to still be a part of that group.” The same user told the publication that they hold another 36 Apes in their collection. So they are not exactly hurting for cash as the case may be. Featured image from CryptoSlate, chart from TradingView.com