Ether (ETH) rallied 11.3% between Nov. 28 and Dec. 5, peaking at $1,300 before facing a 4.6% rejection. The $1,300 resistance level has been holding ground for twenty-six days and is the most likely explanation for the correction to $1,240 on Dec. 6. Ether/USD price index, 12-hour. Source: TradingView So from one side, traders are
Month: December 2022
The Chamber of Deputies, the lower house of Paraguay’s bicameral legislature, failed to move forward on a bill aimed at promoting crypto mining through the use of surplus electricity following a veto from President Mario Abdo Benítez. In a Dec. 5 session, members of Paraguay’s legislature discussed the pros and cons of incentivizing crypto miners
Litecoin price started a strong increase above the $70 resistance against the US Dollar. LTC is currently consolidating and might aim more upsides above $85. Litecoin started a strong increase above the $65 and $70 levels against the US Dollar. The price is now trading above $70 and the 100 simple moving average (4-hours). There
For over 14 years, central banks worldwide have seen blockchain technology deliver highly secure, immutable, verifiable and transparent financial ecosystems, starting with the Bitcoin network. Central bank digital currencies (CBDCs) stood out as one of the ways for fiat currency to harness a part of what cryptocurrencies achieve today. To not only keep up with
In a recent interview Michael Saylor, the MicroStrategy executive chairman and major Bitcoin (BTC) bull, shared his perspective on the fall of the FTX empire. Saylor said that for years there has been a low-grade “boiling Guerrilla war” between the BTC community opposite the crypto community over industry practices such as, what he repeatedly calls,
Bankrupt crypto lender Celsius was granted an extension on its exclusivity period until Feb. 15, 2023. The court approval would give the troubled crypto lender another couple of months to file for a Chapter 11 restructuring plan. The approval to extend the exclusivity period came after two court hearings on Dec. 6. Celsius, in an
A South African digital-only bank (also known as a “neo bank”), Be Mobile Africa, has reportedly launched a crypto payment gateway that allows merchants to convert digital currency payments to fiat currency. Cédric Jeannot, the CEO of the digital-only bank, said the “new gateway is a game-changer” that also helps small businesses “preserve wealth in
Bitcoin (BTC) price is showing notable resilience at the $17,000 level, and according to data from Glassnode, a number of metrics that track the pace of selling and the on-chain behavior of investors are beginning to show a reduction in the factors that trigger sharp sell-offs. The FTX bankruptcy fueled a historic sell-off resulting in
The Kentucky Public Service Commission (PSC) has reportedly opened a formal investigation into two proposed contracts that would offer discounted electricity prices to new crypto-mining operations. According to a Dec. 5 statement from environmental law group Earthjustice, the government department would be looking to determine whether subsidizing crypto mining operations will raise electricity costs for
Altcoin originally meant “Bitcoin alternative” because, in the early stages of cryptocurrency development, every blockchain-based currency was seen as a sort of Bitcoin (BTC) knockoff. Cryptocurrencies back then were mainly used for payments, such as Litecoin (LTC), XRP (XRP) and Peercoin (PPC). Altcoin was used as a catchall term for cryptocurrencies other than Bitcoin. That’s
Australian-based crypto exchange Swyftx has laid off a total of 90 staff members, which it said was in preparation for a “worst-case scenario” caused by the fallout of FTX and a potential fall in global trading volumes next year. The news was shared by Swyftx co-CEO Alex Harper in a Dec. 5 statement, noting that
Several crypto firms are facing a probe from the United States Federal Trade Commission (FTC) over possible deceptive or misleading advertisements relating to cryptocurrencies. According to a Dec. 6 report from Bloomberg, FTC spokeswoman Juliana Gruenwald said the watchdog is investigating “several firms for possible misconduct concerning digital assets.” Gruenwald did not provide further details
Bitcoin (BTC) cooled volatility above $17,000 into the Dec. 5 Wall Street open as traders confirmed upside targets. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin traders warm to near-term upside Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it held overnight gains, having hit three-week highs. The weekly close itself was encouraging
It’s the final month of the year and analysts are out with their projections for the next year. In a note to investors, Standard Chartered suggested that “The financial-market surprises of 2023” will include Bitcoin (BTC) price diving to $5,000 at some point in the year. The fall will be triggered by a liquidity crunch, which
In a blog post dated Dec. 5, Ethereum (ETH) co-founder Vitalik Buterin wrote that money, blockchain identities, decentralized finance (DeFi), decentralized autonomous organizations (DAOs), and hybrid applications were the top developments he was excited about in the Ethereum ecosystem. Buterin then described his experience in using Ether as a means of payment in a cafe
One of the most powerful moments in a new crypto user’s journey happens the first time they send a sizable amount of money to their private wallet. It’s an awe-inspiring, serious moment — and it’s a little scary to experience the power and personal responsibility of the technology firsthand with your own real money. A
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