Large-cap cryptocurrency continue to slump as investors await comments from the Federal Open Markets Committee regarding the exact size of the next interest rate hike. There are, however, a few bright spots in the market and select altcoins managed to post double-digit gains in trading on May 3, thanks to a big-time partnership announcement and
Month: May 2022
Ethereum (ETH) co-founder Vitalik Buterin believes that Layer-2 transaction fees need to be under $0.05 to be “truly acceptable.” Buterin made the latest comments in response to a Twitter post from the Bankless podcast host Ryan Sean Adams, who shared a screenshot of the average transaction fees for eight Ethereum Layer-2 platforms. The data is
Business intelligence firm MicroStrategy said it will consider opportunities for yield generation on 95,643 “unencumbered” Bitcoin (BTC) held by its subsidiary MacroStrategy. In MicroStrategy’s report for the first quarter of 2022 released on Tuesday, the firm said it “may conservatively explore future yield generation opportunities on unencumbered MacroStrategy bitcoins” as a consideration following a $205
Former United States Federal Reserve vice-chair for supervision Randal Quarles discussed central bank digital currencies (CBDC) and the chances of the U.S. adopting such technology in an interview on the “Banking With Interest” podcast Tuesday. Quarles, who is known for his opposition to a CBDC, expressed his skepticism about the so-called digital dollar and predicted the
A report published on May 2 by the rating agency Weiss Ratings warns that crypto-backed mortgages “spell risk.” Weiss editor Jon D. Markman said backing a mortgage with crypto is an “interesting strategy,” but stressed that during these market conditions “investors should be skeptical.” Weiss Ratings Editor Doesn’t Believe Crypto and Mortgages Mix According to
A handful of industries and tech workers are shifting from Web2 to Web3 and with this move, awareness of blockchain technology is also spreading. Ethereum Name Service (ENS) is one project that is looking to help facilitate Web3 adoption by making it easier for Dapp users to interact with the Ethereum network. This is accomplished
Bitcoin (BTC) has been unable to break from the 26-day-long descending channel. Investors are uncomfortable holding volatile assets after the United States Federal Reserve pledged to reduce its $9 trillion balance sheet. While inflation has been surging worldwide, the first signs of an economic downturn showed as United Kingdom’s retail sales fell 1.4% in March.
The crypto community and Wall Street converged last week in Nassau, Bahamas, to discuss the future of digital assets during SALT’s Crypto Bahamas conference. The SkyBridge Alternatives Conference (SALT) was also co-hosted this year by FTX, Sam Bankman-Fried’s cryptocurrency exchange. Anthony Scaramucci, founder of the hedge fund SkyBridge Capital, kicked off Crypto Bahamas with a
Summary: Ethereum could end 2022 at $5,783 and hit $11,764 by 2025 and $23,372 by 2030 The price predictions are by Finder.com’s panel of analysts Ethereum’s increment in price is hinged on a successful upgrade to Proof-of-stake and fighting off other networks in the DeFi space The number two digital asset of Ethereum (ETH) could
Gaming is now one of the most profitable sectors of the entertainment industry, with consumer spending in the United States growing 8% in 2021 to top $60.4 billion in revenue. Worldwide, the games market generated an estimated $180.3 billion in 2021, up 1.4%. Within that segment are the hugely popular play-to-earn blockchain-based games, which are
Algorand (ALGO) prices rallied higher on May 3 after becoming FIFA’s official blockchain solution provider. Nonetheless, the ALGO/USD pair continues to face selloff risks. High-profile partnership ALGO’s price jumped 20% to $0.74, its highest level since April 22. Its move upside came as a part of a broader rebound that started April 30, gaining 37.5%
Bitcoin (BTC) kept investors guessing on May 3 as markets awaited May 4’s Federal Reserve comments. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Tudor Jones says “no thanks” to stocks, bonds Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering just above $38,000 at May 3’s Wall Street open. The pair had stayed practically static
Summary: Kraken plans to launch an NFT marketplace Users of the marketplace will have gas fees covered by Kraken within the platform The only gas fees users will have to pay are when transferring their NFTs into and out of the marketplace There is currently a waiting list to become one of the first users
Florida-based ratings and research firm Weiss Ratings has fired out a warning over the risks of crypto mortgages amid the current economic climate in the United States. The company paid particular focus to Milo, a digital banking startup from Miami that offers 30-year mortgages backed by Bitcoin (BTC), Ethereum (ETH), or stablecoins as collateral. The
The Republic of Uzbekistan continues to progress with local cryptocurrency regulations, with Uzbek President Shavkat Mirziyoyev issuing a new decree regulating the industry. Released on April 27, the new decree instructs a reorganization of a major presidential agency known as the National Agency for Project Management (NAPM). The authority has previously promoted crypto trading in
VanEck, an investment firm with over $82 billion in assets under management, revealed its entrance into the Metaverse by releasing a collection of 1,000 nonfungible tokens (NFTs) on Monday. The VanEck Community NFT, which is based on the Ethereum network, features an illustration of Alexander Hamilton called “Hammy” as he journeys through time and space
