Welcome to the latest edition of Cointelegraph’s decentralized finance, or DeFi, newsletter. Despite Cardano founder Charles Hoskinson’s claim that the DeFi space is now “up for grabs,“ it was rival Vitalik Buterin who stole the headlines this week with a feature in Time Magazine. What you’re about to read is the smaller version of this
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Bitcoin’s (BTC) recovery is facing stiff resistance near $48,500, indicating that bears are active at higher levels. By combining the popular stock-to-flow Bitcoin price model and the illiquid supply data, analyst William Clemente projects $39,000 to act as a strong floor on any declines. On the upside, analysts remain bullish. Bloomberg Intelligence chief analyst Mike
U.S. Senator Margaret Hassan has requested that government agencies take “additional targeted steps to prevent and prosecute the use of cryptocurrency for criminal purposes.” She expressed her concern over “the rise in the use of cryptocurrency for criminal purposes.” US Senator Requests Agencies Take Steps to Prevent and Prosecute Use of Crypto for Criminal Purposes
Solana (SOL) price extended its slide on Sept. 17 as a major network outage over the past week — pointing to heightened security risks — hit traders’ confidence. The SOL/USD exchange rate fell up to 13.27% to its intraday low of $133.53 in a corrective trend that began after it topped out near $221.38 on
Online information flows have a tremendous influence on the prices of crypto assets. Just this week, investors witnessed how even fake news can sometimes make the market value of a token explode, even if for just an hour. Fortunately, the effects of legitimate news tends to last longer, but the trick for investors is to
Bybit, one of the world’s top cryptocurrency derivatives exchanges, will halt some of its services to South Korean users ahead of a licensing deadline. The exchange officially announced on Friday that it will discontinue Korean language support from its platforms as well as its official South Korean community on social media. The suspensions will take effect
PayPal officially announced on Friday that all eligible customers in the United Kingdom can now buy, hold and sell cryptocurrencies using their PayPal accounts. Customers can trade four major cryptocurrencies: Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). As announced previously, crypto trading will only be available to PayPal customers with verified identities. PayPal
There was a lot of talk at SALT Conference 2021 about Solana Labs, the supersonic racer of layer-one blockchain networks. Not surprisingly, much of that conversation centered on speed — or, in network parlance, transactions per second (TPS). If blockchain technology is ever to achieve mass adoption — 1 billion users, say — then it
For the past 40 days, Ether (ETH) has trended modestly upward, respecting a narrow channel most of the time. It enjoyed a brief rally toward $4,000 in the first week of September, but a subsequent crash brought the price into the ascending channel. Ether price at Bitstamp in USD. Source: TradingView In August, nonfungible tokens
As someone who’s been deeply ingrained in the software development community for 20 years, I’ve come to realize that misinformation propels hearsay unlike anything else. There are a number of falsehoods circling the XRP Ledger (XRPL) that I encounter on a regular basis including the misconception that it’s centralized, that there are hidden fees, that
The Nigerian currency, the naira, plunged to a new all-time low of N570 for every dollar on September 16, 2021. This new exchange rate means since August 17, the naira has now lost about a tenth of its value on the foreign currency black market. Naira Overvalued In spite of this plunge, which has been
Some U.S. Senators are ramping up the anti-crypto rhetoric again, urging federal agencies to take action against the illicit use of digital assets. Democrat Senator Maggie Hassan is the latest to raise concerns about the use of cryptocurrency as a means of payment for ransomware attacks. The Senate Homeland Security and Governmental Affairs Committee member
Altcoins continue to book notable gains on Sept. 16 as a slew of celebrity endorsements, major investments and the growing popularity of cross-chain bridges catch investors’ attention. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past
More than $1 billion worth of Ether has been removed from centralized exchanges in 24 hours, leading to speculation about imminent price gains for Ethereum as supply shrinks on many trading venues. According to data shared by crypto analytics provider IntoTheBlock, $1.2 billion worth ETH was withdrawn from centralized exchanges on Sept. 16 to mark
On Sept.16 Avalanche (AVAX) price hit a new all-time high at $68.89 and over the last few months the project has risen to challenge the Ethereum (ETH) network’s dominance among smart contract platforms. According to the project’s website, the layer-one protocol capable of surpassing 4,500 transactions per second (TPS) with a time to finality of
This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. Regulatory noise In this week’s column, the Man in Shanghai is determined to squeeze all of the regulatory noise into one section, so