Last week, the Celsius Network wrote its name in the alarming recent history of the crypto market failures alongside Terra. The American platform has unstaked $247 million worth of Wrapped Bitcoin (wBTC) from the Aave protocol and sent it to crypto exchange FTX while putting the withdrawal option for users on a stop. Immediately after
Since June 12, 2022, the Tron-based stablecoin USDD has remained below a U.S. dollar in value. On Monday, USDD had a 24-hour trading range of around $0.943 to $0.966 per unit and the day prior on June 19, USDD saw an all-time low at $0.928 per unit. Despite being below the U.S. dollar parity, the
According to local news outlet Arz Digital, the day prior, Rajabi Mashhadi, a spokesperson for Iran’s Ministry of Energy, said that the entity would be cutting power supply to all of the country’s licensed crypto mining firms by the beginning of July. Citing an anticipated electricity deficit from the peak-summer season, Mashhadi stated, “There are
Natalie Brunell, the host of Coin Stories podcast, thinks that the recent incidents involving Terra and Celsius and the following market sell-off will lead to regulatory action that will likely favour Bitcoin over the rest of cryptocurrency. “I’m going to be watching for regulation developments, just signifying that Bitcoin is a digital property and that
Canada’s Purpose Bitcoin ETF (BTCC) witnessed its Bitcoin (BTC) holdings slashed by half in just one day, suggesting an alarmingly waning buying sentiment among the crypto’s most-experienced investors. Purpose Bitcoin ETF has 51% of AUM slashed The fund’s holdings dropped from $47,818 BTC to 23,307 BTC between June 16 and 17, its lowest level since
The crypto markets have been in a strong bear phase for the past several months but JPMorgan Chase analysts expect that to change and they projected significant upside from the current levels. The analysts cited the rising share of all stablecoins in the total crypto market for their bullish outlook. Unperturbed by the current fall, retail
Last week, a WeChat post published by the Shanghai Fengxian Court began circulating in crypto circles with regards to its recent ruling on a car sale in May 2019 made using digital currency. At the time, the buyer, identified only as Mr. Huang, signed a sales contract to purchase a 2019 Audi AL6 for CNY
Bitcoin’s (BTC) month-to-date chart is very bearish and the sub-$18,000 level seen over the weekend was the lowest price seen since December 2020. Bull’s current hope depends on turning $20,000 to support, but derivatives metrics tell a completely different story because professional traders are still extremely skeptical. BTC-USD 12-hour price at Kraken. Source: TradingView It’s
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has warned the public about crypto investments that seem “too good to be true.” Meanwhile, the U.S. Treasury Department says that the recent crypto market turmoil underscores the urgent need for regulatory frameworks that mitigate the risks posed by digital assets. SEC Chair
Summary: WeChat has warned users in China against using the app to trade cryptocurrencies and NFTs. The warning reiterates China’s government directive to ban crypto trading and mining within its borders. The popular social media platform WeChat has warned its users in China against using the application to facilitate the trading of cryptocurrencies and NFTs.
While Ether’s (ETH) price dip over the weekend may have left investors worried about the digital asset, community members on Reddit conducted a discussion on Ethereum use cases that could potentially push the asset’s price upward. In the Ethereum subreddit, a Reddit user asked fellow members of the community about ETH use cases that they
Terra (LUNA) employees are reportedly unable to leave South Korea as the country’s prosecutors imposed a departure ban on key developers of the project. Korean media outlet JTBC reported on Monday that an investigation team from Seoul Southern District Prosecutor’s Office has imposed a travel ban on key team members of Terraform Labs. The prosecutors
Bye-bye bear market blues; welcome to the network, Bitcoin (BTC) believers. Over the past week, the number of Bitcoin wallet addresses containing one BTC or more increased by 13,091. The total number of “wholecoiners” surged to 865,254. The number of whole coiners has rocketed during the downward price action, highlighted by the hockey stick growth
The rapid surge in share of stablecoins like Tether (USDT) in the cryptocurrency market may point to an upcoming crypto upside, according to analysts at the American investment bank JPMorgan Chase. The percentage of stablecoins in the total crypto market value has been on the rise, reaching new historical highs in mid-June, JPMorgan strategists believe.
Ethereum’s native token, Ether (ETH), underwent a sharp relief rally after falling to $880, its lowest level in eighteen months, on June 18. ETH price regains 30% in two days Ether’s price reached above $1,150 this June 19, marking 30%-plus gains in just two days. However, at the beginning of the new weekly session this
The crypto winter is here. It’s a trying time as prices grind down, but it’s the best moment to build and learn. For some Bitcoiners, the bear market is a time to plant trees or create memes. For those with kids, it’s a welcome recess used to broaden the minds’ of Bitcoin (BTC) minors. Cointelegraph spoke