Bitcoin (BTC) slid below $29,000 around the May 4 Wall Street open as United States equities showed jitters over the resurgent banking crisis. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Too much all at once” for U.S. banks Data from Cointelegraph Markets Pro and TradingView showed BTC/USD losing ground as the S&P 500 shed 0.7%.
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For the past 14 days, cryptocurrency markets have been trading within an unusually tight 7.1% range. In other words, investors are unwilling to place new bets until there’s additional regulatory clarity, especially in the United States. The total crypto market capitalization fell by 1% to $1.2 trillion over the seven days ending May 4, primarily
The House of Representatives for North Carolina has unanimously passed legislation aimed at prohibiting payments to the U.S. state using a central bank digital currency, or CBDC. In a May 3 vote, 118 members of the state’s legislative body agreed to pass House Bill 690, with only two representatives absent and none voting against the
Major cryptocurrency exchanges around the world are launching trading of the Sui (SUI) token amid the Sui Network’s mainnet launch on May 3. According to an official announcement by the Sui Foundation, the Sui mainnet went live at 12:00 pm UTC. A wide number of global crypto trading platforms opted to support the Sui mainnet
Bitcoin (BTC) has room to drop below $25,000 to flush out a recent influx of speculators, research shows. In the latest edition of its weekly newsletter, “The Week On-Chain,” analytics firm Glassnode flagged the ongoing influence of “short-term holders” (STHs) on BTC price action. Profitability reset point lies below $25,000 BTC/USD has struggled to overcome
Bitcoin (BTC) reclaimed $29,000 overnight into May 4 as the United States banking crisis risked spawning new victims. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Gold, Bitcoin benefit from U.S. banking mayhem Data from Cointelegraph Markets Pro and TradingView tracked a swift mood change for BTC/USD, which hit $29,242 on Bitstamp. The pair had sunk
Decentralized finance (DeFi) protocol Curve Finance has launched its native algorithmic U.S. dollar-pegged stablecoin, dubbed “crvUSD” on the Ethereum mainnet — minting more than $22 million worth of the crvUSD so far. According to data from blockchain explorer Etherscan, the contract has minted more than $22 million worth of crvUSD in the past 8 hours,
Nigeria, known to be one of the world’s most curious nations about cryptocurrencies like Bitcoin (BTC), has approved the National Blockchain Policy for Nigeria during its meeting on May 3, 2023. The approval was in response to a memo presented by Professor Isa Ali Ibrahim (Pantami), the Honourable Minister of Communications and Digital Economy. The
Supported by U.S. law enforcement, police in Ukraine have disrupted a network of crypto exchange services suspected of laundering criminal proceeds. The platforms were allegedly processing dirty money obtained from ransomware attacks and various fraud schemes. Cyberpolice, US Investigators Bust Crypto Exchanges in Ukraine Officers from Ukraine’s Cyberpolice unit and Main Investigative Department, working with
Bitcoin (BTC) hit daily lows at the May 3 Wall Street open as markets counted down the hours to the Federal Reserve interest rate decision. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Fed set to hike into banking crisis Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $28,152 on Bitstamp, down 2.2% from
Securities token platform INX has launched a wallet with compliance features for institutions, according to a May 3 announcement. The new wallet was created in partnership with wallet infrastructure provider BitGo and uses multi-party computation (MPC) technology. Exciting announcement! INX now collaborates with @BitGo to enable institutional #investors to fully and confidently participate in the
The former OpenSea manager who was accused of insider trading of NFTs has been convicted on May 3 of wire fraud and money laundering in a New York federal court, according to a report from Reuters. According to prosecutors, Nathaniel Chastain, a former Product Manager at OpenSea, was in charge of choosing which NFTs would
The Nasdaq-listed cryptocurrency exchange Coinbase has been accused of “wrongfully” profiting from its users’ facial and fingerprint scans. “Coinbase collects, stores, possesses, otherwise obtains, uses, and disseminates its users’ biometric data to, amongst other things, further enhance Coinbase and its online ‘app-based’ Platform,” a proposed class action lawsuit details. Coinbase ‘Wrongfully Profits’ From Users’ Facial
Summary: Daily unique addresses on Ethereum Virtual Machine-compatible chains set a new all-time high of 6.77 million last week. Experts and on-chain say expensive gas fees pushed more users to leverage EVM-chain like BNB Chain, Polygon, Fantom, and Avalanche. The hike in gas fees coincides with the Pepe and meme coin fever spreading through the
Litecoin (LTC) can make some big gains versus Bitcoin (BTC), particularly as the August halving event gets closer, according to Litecoin’s creator Charlie Lee. Litecoin up 85% since record lows versus Bitcoin Lee argues that LTC/BTC could rally to 0.025 BTC, or over 700%, in the next bull cycle, with Litecoin having “higher throughput by design, scalability
New meme-coin Pepe (PEPE) has entered a sharp correction phase after surging by more than 2,000% since its debut a few weeks ago. On May 3, the PEPE price dropped to $0.00000089, down about 35% from its record high of $0.00000138 established two days ago. As a result of the correction, its market capitalization slipped by nearly