Despite Beijing’s ever-increasing crackdown on the crypto industry, there are still some signs of life in the People’s Republic regarding the Bitcoin network and OTC trading. China intensified its clampdown on crypto last week in an effort to suppress any remaining activity related to digital assets within its borders. The regime specifically targeted crypto transactions,
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Bitcoin faced another day of bearish pressure on Sept. 29 as the impact of China’s crypto crackdown and uncertainty about the regulatory landscape in the United States continue to weigh heavily on Bitcoin (BTC) and some of the larger-cap altcoins. Data from Cointelegraph Markets Pro and TradingView shows that the early morning rally above $42,000
Bitcoin (BTC) and Ether (ETH) are attempting to bounce off their critical support levels as bulls try to thwart attempts by the bears to deepen the correction. Tesla CEO Elon Musk said at the Code Conference in California recently that governments cannot “destroy crypto,” due to its decentralized nature but can “slow down its advancement.”
Decentralized exchange dYdX’s native token DYDX surged by nearly 80% this week as traders assessed its potential against China’s recent ban on crypto transactions. The DYDX price hit a new high of $26.50 on the FTX exchange after trading at around $13 a week ago. The China ban was an apparent boost for the dYdX
High transaction costs have been a thorn in the side of investors and developers for more than a decade and the issue became worse in 2021 after the emergence of decentralized finance (DeFi) and nonfungible tokens (NFT) led to record-high levels of activity across the cryptocurrency ecosystem. Since the completion of Ethereum’s London hardfork, cross-chain
In search of ways to heal its travel industry, hurt by the pandemic, Thailand is now recognizing an opportunity to tap into a growing market of cryptocurrency holders. Fostering a “cryptourism atmosphere” is what the country’s tourism agency intends to do, including by minting a new token and facilitating bitcoin card payments. Tourism Board of
Cool Valley, Missouri, a small town of about 1,500 in the St. Louis County area, found itself the subject of international attention recently after its mayor, Jayson Stewart, announced that he planned to give each resident up to $1,000 in Bitcoin. Stewart, a passionate environmentalist who spent years cleaning up the world’s oceans and ran
Ripple’s (XRP) rallied 72% from Aug. 7 to Aug. 14 but since then, every attempt to break out of the descending channel has been quickly suppressed. The past ten days have been no different, with the XRP price correcting by 15%. The platform was first launched in 2012 and Ripple is a distributed open-source protocol
For years, the narrative surrounding Bitcoin (BTC) has been one which has portrayed the digital asset as being a hedge against monetary inflation. This is because inflation figures have been on the rise across the board over the last couple of years thanks in large part to governments printing copious amounts of their local fiat
“Sooner or later, ETH will outpace Bitcoin and become the global standard”, said Polygon co-founder Sandeep Nailwal in an exclusive interview with Cointelegraph. Nailwal believes that Ethereum will eventually become “the ultimate settlement layer” for the DeFi space. Polygon will play a major role in ensuring the long-term success of Ethereum through its scalability solution.
National Bank of Ukraine is hiring a blockchain expert who will likely support its digital currency project. The vacancy has been announced as the financial institution prepares to pilot e-hryvnia salary payments for government workers as early as this year. NBU Posts Blockchain Developer Ad on Linkedin The central bank of Ukraine is looking to
As global regulators continue to scrutinize the cryptocurrency industry, Tesla CEO Elon Musk has expressed support for crypto, calling it undestroyable. “It is not possible to, I think, destroy crypto, but it is possible for governments to slow down its advancement,” Musk said at the Code Conference in California, CNBC reported Sept. 28. According to
Bitcoin (BTC) trudged toward $43,000 on Wednesday, Sept. 29, as a “macro predicament” kept bulls on their toes. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC in yet another dip below $41,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD ranging slightly higher after a fresh $40,000 retest overnight. The pair had shown what
Technical analysis is a controversial topic, but higher lows are commonly interpreted as a sign of strength. On Sept. 28, Ether (ETH) might be 30% below its May 12 high of $4,380, but the current $3,050 price is 78% higher than the six-month low of $1,700. To understand whether this is a “glass half full”
The blockchain ecosystem has evolved significantly over the past decade as smart contract capabilities have moved the industry from being a simple medium of exchange to a bustling ecosystem full of decentralized finance (DeFi) and nonfungible tokens (NFT). One project that has benefited from the increased capabilities of blockchain technology and the recent launch of
On September 28, reports stemming from social media and crypto-focused forums detailed that China has been blocking a number of cryptocurrency websites. The Twitter handle for 8btc News tweeted that the web portals coinmarketcap.com and coingecko.com have been blocked from mainland China. The ‘Great Firewall,’ as it is often called, has also blocked a number
