Bitcoin (BTC) descending to $24,000 has cost its largest institutional investment vehicle more than the average hodler. According to data from on-chain monitoring resource Coinglass on May 13, the Grayscale Bitcoin Trust (GBTC) is now trading at a nearly 31% discount. Grayscale CEO: Investors are “waiting for things to settle down” Amid ongoing market volatility
Month: May 2022
Ethereum co-founder Vitalik Buterin has donated $4 million worth of USD Coin (USDC) to the University of New South Wales (UNSW) to support the development of a pandemic detection tool. The capital, which equates to roughly $5.3 million Aussie dollars, is part of Buterin’s self-described “moonshot anti-COVID effort” dubbed Balvi Filantropic Fund in partnership with
Cardano (ADA) pared a big portion of the weekly losses incurred during this week’s crypto market rout. ADA’s price reached an intraday high of $0.60 on May 13, a day after rebounding from its week-to-date low of $0.38 — a 58% rally. The huge upside retracement appeared in the wake of similar price action in the
The ECB released another working paper on the digital euro, providing an extensive technical analysis of a potential European CBDC and its position in the existing financial system. Issued on May 13, the working paper aims to study issues like financial intermediation, payment choices and privacy in the digital economy, providing a large number of
Summary: Aurora has launched a token fund worth $90 million geared towards financing DeFi-based applications on the Near Protocol The fund also is geared toward attracting developers to Aurora and the Near Protocol Aurora is an Ethereum Virtual Machine created by the team at NEAR Protocol Aurora has launched a $90 million token fund geared
Aurora, an Ethereum Virtual Machine (EVM) designed to scale decentralized applications (DApp) built on the Near protocol, has launched a token fund worth $90 million. The fund was launched today in partnership with Proximity Labs and will be focused on financing decentralized finance (DeFi) applications on the Near protocol. Near Protocol is a DApp platform
Bad news continues to dominate crypto media headlines and May 12’s juiciest tidbit was the unexpected collapse of the Terra ecosystem. In addition to the weakness seen in equities, listed companies with exposure to blockchain startups and cryptocurrency mining have also declined sharply. Bitcoin mining stocks continue bleeding… Mining investors probably wish they had simply
The Shanghai High People’s Court has issued a document in which it states that Bitcoin is subject to property rights laws and regulations. That finding was made in relation to a lawsuit filed in a district court in October 2020 involving the recovery of a loan of 1 Bitcoin (BTC). The lower court recognized Bitcoin
The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, believes bitcoin could crash to $17K. However, he also believes the cryptocurrency “will win” because America is led by the three stooges. He has been recommending bitcoin to investors alongside gold and silver. Kiyosaki Thinks Bitcoin Could Test the Bottom at $17K
Ether (ETH) is down 38% in three weeks and the current $2,000 level is 59% below the $4,870 all-time high that was reached in November 2021. Additional newsflow that added to the current market wide volatility were the bankruptcy fears that emerged after Coinbase, the largest U.S. exchange reported a $430 million first-quarter 2022 loss.
The crypto market experienced another day of pain on May 12 as the fallout from the Terra’s LUNA and UST failure continues to ripple across the ecosystem. While the coverage for UST and its impact on Bitcoin (BTC) have been extensively covered over the past few days, the pullback has also had a significant impact
Bitcoin (BTC) bulls demanded a rematch of $30,000 later on May 12 as the market recovered from its lowest levels since late 2020. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView DXY looms large as BTC recovers Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading above $29,500, holding higher after the Wall Street open. The
Macro investor Raoul Pal is convinced that the current crypto bear market will end only once the Fed eases its hawkish monetary policy by halting interest rate hikes. That could happen in the next couple of months, according to Pal’s predictions. “The Fed are unlikely to raise rates as far and as fast as people
The crypto winter could be claiming more casualties among the stablecoin camp. The depegging of TerraUSD (UST) on May 10 triggered market selloffs, and now Tether (USDT) appears to be losing its footing. It has slipped against the U.S. dollar. The algorithmic stablecoin UST, as the name implies, is algorithmically backed. Terra (LUNA), the ecosystem’s
Bitcoin (BTC) bounced past $28,000 during May 12 after repeating a chart structure not seen since March 2020. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC seller losses spiral Data from Cointelegraph Markets Pro and TradingView continued to track BTC/USD as it briefly fell to just under $24,000 on Bitstamp. A strong reversal then sent the
Amid collapsing Terra network’s cryptocurrencies Luna (LUNA) and TerraUSD (UST), crypto exchange Binance continues deactivating related trading services. Binance’s derivatives arm Binance Futures has delisted coin-margined LUNA perpetual contracts, the firm officially announced on May 12. “Users are advised to close any open positions prior to the delisting time to avoid automatic settlement,” the statement
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