On May 6, Ethereum Foundation transferred nearly $30 million in Ether (ETH) to the Kraken cryptocurrency exchange, causing jitters in the market about a potential selloff event. ETH price fell 4.8% to $1,900 on the day, but the decline has been negligible so far amid a wider recovery trend. ETH price holding key support Ether’s
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Bitcoin (BTC) saw fresh volatility on May 6 as low-liquidity weekend trading tested the mettle of its trading range. Bitcoin “in limbo” despite volatili Data from Cointelegraph Markets Pro and TradingView showed BTC/USD shedding over $1,000, or 3%, in a matter of hours on the day. The largest cryptocurrency saw livelier conditions typical of weekend
On May 4, in a recent Youtube video, Validus Power Corp.’s executive director, Greg Foss, discussed the potential for the banking industry’s failures to wipe out $10 trillion in equity. Foss expressed his support for “hard assets” such as real estate, gold, and bitcoin. He believes that bitcoin, the leading crypto asset, is one of
Top Stories This Week Memecoin hype drives Bitcoin transaction fees to multi-year highs The ongoing trading frenzy of memecoins like Pepe has triggered an unwanted consequence for Bitcoin (BTC) — raising its transaction costs to their highest point in two years. On May 3, the total amount of fees paid on the Bitcoin blockchain reached
The government of Kazakhstan has received 3.07 billion tenge (approximately $7 million) in tax payments from crypto mining entities in 2022, following the implementation of an amended law regulating the fiscal burden of mining cryptocurrencies, according to the local media reports. Preliminary data from the government for 2023 shows that mining fees collected by April 27
In the past week, sales of non-fungible tokens (NFTs) have increased by 1.46%, raking in a total of $149,312,180. However, while the number of NFT buyers has risen by 22.48%, the number of NFT transactions has decreased by 8.78% compared to the previous week. Azuki Emerges as Top-Performing NFT Collection This Week With 504.96% Sales
Bitcoin (BTC) could be set for historic gains thanks to a simple trend line breakout, a popular trader hopes. In a Twitter discussion on May 5, Titan of Crypto flagged a rare bull signal on the Bollinger Bands indicator for the Bitcoin monthly chart. Bitcoin price may see “inexorable breakout” BTC price action currently impacts
Texas has taken its first steps in order to approve a bill that would issue a 100% gold-backed digital currency. If enacted as law, the bill, which is being discussed by a Texas House committee, would create an electronic system for users to transact and pay with this digital currency and would also allow them
There’s a narrative that’s grown up around Ethereum’s two most important co-founders, Joe Lubin and Vitalik Buterin, to explain how they went in different directions almost a decade ago. It suggests the pair fell out over the blockchain’s future direction, with the idealistic 20-year-old Buterin determined to turn Ethereum into a nonprofit foundation, while Lubin
Cryptocurrency miners based in the United States could soon face a tax equal to 30% of the cost of electricity they use if President Joe Biden’s proposed budget for the fiscal year 2024 is approved by Congress, but the proposal has sparked debate about whether it would actually decrease global emissions and energy prices. Cryptocurrency
The United Kingdom’s Financial Conduct Authority, or FCA, has announced the inspection of sites across the country “suspected of hosting illegally operated crypto ATMs.” In a May 5 announcement, the FCA said it had coordinated with local authorities in the cities of Exeter, Nottingham and Sheffield to raid facilities suspected of operating unregistered cryptocurrency ATMs.
Federal Reserve Chairman Jerome Powell has warned of “highly uncertain and adverse” economic consequences if the U.S. defaults on its debt obligations. “No one should assume that the Fed can protect the economy from the potential short and long-term effects of a failure to pay our bills on time,” he further cautioned. Fed Chair Jerome
The price of Sui (SUI) has dropped sharply after its market debut across leading cryptocurrency exchanges. On May 5, the SUI price was $1.26 per token, down about 70% from its record high of around $4, established two days ago on Binance. Interestingly, on other exchanges like Kraken, the token’s market top was $1.60 or
United States inflation and how it might affect the price of Bitcoin (BTC) are two of the top concerns on investors’ minds around the world. To illustrate, one prominent crypto personality bet big bucks on the future of the U.S. economy: the former Coinbase executive recently paid out $1.5 million to settle a Twitter wager
On May 4, Argentina’s central bank banned payment providers from offering crypto transactions, alleging it intends to reduce the country’s payment-system exposure to digital assets. According to a statement from the monetary authority, payment providers may not offer or facilitate crypto services through their applications. The move brings payment fintechs and financial institutions under the
Bitcoin (BTC) eyed a reclaim of further lost ground on May 5 as $30,000 remained in play. BTC price action rebounds from stocks slump Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it spiked to $29,529 on Bitstamp – a new May high. The pair had dipped with United States equities at the
Zimbabwe’s central bank has set a price for its gold-backed digital tokens. The country is planning to sell its gold-backed digital currency to investors starting May 8. The tokens will be sold at a minimum price of $10 for individuals and $5,000 for corporations and other entities. According to a statement released by the Reserve
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 Nigerian Federal government said on May 3 it had passed what it called the “national blockchain policy.” The Nigerian minister of communications and digital economy, Isa Pantami, said the new policy is a product of consultations with 56 institutions and personalities. Lucky Uwakwe, the founder of the technology service delivery company Sabi Group, said
United States-founded cryptocurrency exchange Coinbase has no plans to move its operations out of the U.S., CEO Brian Armstrong told investors in an Q1 earnings call. On May 5, Armstrong assured shareholders the firm is “100% committed” to the U.S. market over the long term despite regulatory uncertainty in the U.S. “So let me be
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