Bitcoin (BTC) consolidated gains on Oct. 27 as the highest levels in six weeks gave way to sideways action. Bitcoin impresses with stability on GDP print Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $20,500 on Bitstamp after reaching local highs of $21,012 the day prior. The largest cryptocurrency treaded water in line
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According to 257 economists polled by Reuters, the global economy is approaching a recession, but 70% of the survey’s participants believe the chances of a sharp rise in unemployment levels will be low. The poll follows the Biden administration and the U.S. Commerce Department issuing a package of trade restrictions against China’s relationship with the
Is the International Monetary Fund (IMF) really hostile to crypto? Many in the cryptocurrency/blockchain space think so. In January, the fund asked El Salvador to drop Bitcoin (BTC) as legal tender. In May, it reportedly pressured Argentina to curtail crypto trading as the price for an IMF loan extension, and it also recently warned the
Oasys, a Web3, EVM-compatible, gamefi-focused blockchain project, launched the first phase of its mainnet on October 25th. The company, which has gathered support from AAA gaming companies such as Sega, Ubisoft, and Bandai Namco, will start validating blocks from all nodes in preparation for its definitive activation slated to happen on November 8th. Oasys Launches
Financial authorities in Singapore have proposed new regulations designed to protect consumers from risks associated with cryptocurrency investment and trading. The measures, which also aim to expand regulations for stablecoins, will be discussed with the industry before their adoption. Singapore Prepares to Tighten Cryptocurrency Regulations, Limit Public Access to Digital Assets The Monetary Authority of
On October 25, Nigeria commemorated the first anniversary of the Central Bank of Nigeria’s e-naira, even as more residents continue to snub the digital currency. In a move aimed at boosting the use of the CBDC, the central bank is offering a 5% discount to motorized rickshaw drivers and passengers that use the e-naira. Kingsley
The digital asset market downturn that started the current crypto winter is negatively affecting search spending, Google has acknowledged. Ad growth in the third quarter fell to a low seen only once in almost a decade, the tech company revealed this week. With Fewer Crypto Ads, Google Registers 6% Ad Revenue Growth in Last Quarter
Asset management firm Stone Ridge, the parent company of Bitcoin company NYDIG, has launched the first startup accelerator that focuses on the Bitcoin Lightning Network and the Taro protocol, called In Wolf’s Clothing (Wolf). The accelerator consists of 8-week programs in which the best founders and startup teams from around the world will be brought
Economist Peter Schiff has warned that the U.S. dollar will crash. Noting that the U.S. is “in a much bigger fiscal mess than Great Britain,” with a much bigger debt problem, Schiff stressed: “Can we possibly repay this debt? Of course not. Repaying the debt is impossible. So, what’s going to happen? We’re going to
JPMorgan Chase CEO Jamie Dimon says the tensions between the U.S. and China and the Russia-Ukraine war are “far more concerning than whether there’s a mild or slightly severe recession.” He stressed: “I would worry much more about the geopolitics in the world today.” JPMorgan Boss Jamie Dimon Warns of Something ‘Far More Concerning’ Than
Federal Reserve Governor Christopher Waller says he is not a big fan of the Fed issuing a central bank digital currency (CBDC). “It’s just a checking account at the Fed,” said the governor. Federal Reserve Chairman Jerome Powell recently said that the central bank has not decided whether to issue a digital dollar. Fed Governor
On October 26, the bitcoin mining operator Aspen Creek Digital Corporation (ACDC) announced that the company has commenced operations at its solar farm-powered high performance computing center (HPCC) in Texas. ACDC further detailed that the company inked a deal with the firm Compass Mining in order to host 27 megawatts (MW) of capacity, which will
Research has detailed Bitcoin’s recent record-low volatility and while traders expect an eventual price breakout, the Oct. 26 BTC price move to $21,000 is not yet being interpreted as confirmation that $20,000 has now become support. In a recent “The Week On-chain Newsletter,” Glassnode analysts mapped out a bull case and a bear case for
Bitcoin and crypto payment services provider Bitpay has announced that the company now supports the Polygon (MATIC) network. According to the firm, Bitpay app users will be able to store, trade, and spend MATIC later this week, and the collectibles company Panini America will be Bitpay’s first merchant to accept MATIC payments. Bitpay Reveals Polygon
According to a new preprint conducted by researchers at the Open Universiteit, University of California Berkley, and Radboud University, the vast majority of literature on blockchain energy use from both academic and everyday sources “lacks the scientific rigor expected from a mature scientific field.” The report analyzed 128 scientific and open-source studies related to carbon
A day after hitting a one-week high, dogecoin raced to a two-month high earlier in today’s session. Wednesday’s surge in price comes as the global cryptocurrency market was up by nearly 7% on the day. Cardano also traded higher, climbing by over 10% in the process. Dogecoin (DOGE) Dogecoin (DOGE) rose higher for a second
Bitcoin rose to its highest level in six weeks on Wednesday, as the U.S. Dollar continued to weaken versus several G7 currencies. The latest decline in USD comes as consumer confidence in the United States fell by more than expected in October. Ethereum was also trading at a multi-week high in today’s session Bitcoin Bitcoin
The anticipation of the next Bitcoin (BTC) halving will be the main catalyst that sparks a new crypto rally as soon as the second quarter of 2023, according to hedge fund manager Mark Yusko. The halving mechanism, which reduces Bitcoin’s block rewards by half every four years, has historically been a major catalyst for crypto
The Bitcoin mining industry continues to face a challenging year as the price of Bitcoin (BTC) hovers below $20,000, coupled with rising energy costs in North America and Europe. Regulators have also recently started clamping down on crypto mining, as a recent report from the Bitcoin Mining Council (BMC) found that Bitcoin has seen a
A recent poll completed by the Public Opinion University Institute, part of the Simeon Canas Centroamerican University, has found that El Salvador is still not attracted by the idea of bitcoin as legal tender. The poll results indicate that almost two-thirds of the population has a negative impression of bitcoin, with only a quarter of