The cryptocurrency market settled into a holding pattern on May 25 after traders opted to sit on the sidelines ahead of the midday Federal Open Market Committee (FOMC) meeting where the Federal Reserve signaled that it intends to continue on its path of raising interest rates. According to data from Alternative.me, the Fear and Greed
Month: May 2022
Brazil’s Federal Reserve (RFB) has declared that Brazilian investors in the crypto-assets market must pay income tax on transactions that involve the like-kind exchange of cryptocurrencies; for example, Bitcoin for Ethereum. The RFB’s declaration was published in the Diário Oficial da União and was the result of a consultation made by a citizen of the
Bitcoin (BTC) has been struggling to sustain above $30,800 since May 16, suggesting that demand dries up at higher levels. Similarly, US equity markets have not ceased to decline due to uncertainty regarding the number of rate hikes that will be needed to bring inflation under control. As the crypto bear market deepens, analysts are
The primary use case for cryptocurrency in most wealthy countries is acquiring it and holding it, trading it, or using it in various other ways to make more money. In the developing world, where access to financial and banking systems is limited or nonexistent, innovative humanitarian organizations are piloting micro-blockchain ecosystems. In the summer of
Disclaimer: This article is being updated all day long. All timestamps are in the UTC time zone, with updates in reverse order (the latest update is placed at the top). WEF 2022, the first in-person World Economic Forum event since the pandemic started, continues to bridge traditional finance with the future of money on its
A Proof Collective member has fallen victim to a scam, losing 29 highly-valuable Ethereum-based Moonbirds. According to a tweet by Cirrus on Wednesday morning, the victim lost 29 Moonbird nonfungible tokens (NFTs) worth $1.5 million after clicking a malicious link shared by a scammer. 29 Moonbirds were just stolen in a hack. ~750e (~$1,500,000) in
Shortly after approving Bitcoin (BTC) as legal tender in the Central African Republic (CAR), the local government is moving to provide the digital currency infrastructure. CAR President Faustin-Archange Touadera took to Twitter on May 24 to announce the upcoming launch of the country’s first major crypto initiative dubbed “Sango.” The creation of the CAR’s crypto
press release PRESS RELEASE. Ariva, a next-generation tourism & travel blockchain protocol, celebrated the first anniversary of its launch on May 25, 2022. This development marks an impressive milestone for the blockchain project that has taken the tourism sector by storm in recent months. Ariva launches reward program to celebrate 1st anniversary Ariva has announced
Crypto trading platforms show initial signs of support for the revival of the collapsed Terra network by listing Terra’s brand new token, also named LUNA. The HitBTC exchange took to Twitter on Wednesday to announce that Terra’s new chain token Luna will be available on its platform on May 27. The news comes amid Terraform
Bitcoin (BTC) could be in for a return to levels not seen since before its 2020 bull market if history repeats itself. That was according to new analysis released on May 24, which studied Bitcoin’s interaction with its 200-week moving average (WMA). Bitcoin floor target could be between $15,500 and $19,000 In a Twitter thread,
Summary: Bitcoin’s value has been declining for a record-breaking eight consecutive weeks. The ongoing pullback has put a notable dent in the entire crypto market performance. Fear in the Bitcoin and Ethereum derivatives markets indicates that downside selling pressure will continue for the next three to six months. However, bear markets eventually usher in bull
In April, the United Kingdom’s Economic and Finance Ministry, also known as Her Majesty’s Treasury, announced its intention to put the United Kingdom at the forefront of technology by bringing stablecoins under the country’s payments regulation — a bold move that looks especially intriguing in contrast to the recent shock, caused by TerraUSD’s (UST) depegging.
Ether’s (ETH) 12-hour closing price has been respecting a tight $1,910 to $2,150 range for twelve days, but oddly enough, these 13% oscillations have been enough to liquidate an aggregate of $495 million in futures contracts since May 13 according to data from Coinglass. Ether/USD 12-hour price at Kraken. Source: TradingView The worsening market conditions
On Tuesday, the European Central Bank, or ECB, published the results of a new survey conducted in six eurozone areas; the Netherlands, Spain, Italy, Belgium, France, and Germany. Together, approximately 10% of respondents from the surveyed countries said they own cryptocurrencies. Out of this group, only 6% of respondents said they own digital assets worth
The crypto market has been in decline over the past six months with its valuation dropping from over $3 trillion in November 2021 to $1.23 trillion in May 2022. Fears over persistently higher inflation, the Federal Reserve’s hawkish response to it, and the ongoing conflict between Ukraine and Russia prompted investors to limit their exposure
As economic conditions continue to worsen, financial experts worldwide are increasingly placing the blame at the feet of the Federal Reserve after the central bank was slow to respond to rising inflation early on. Financial markets are currently experiencing their worst stretch of losses in recent history and it doesn’t appear that there is any
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