Bitcoin (BTC) has an important new price target for bulls to meet — and it is closer than it seems. As noted by Philip Swift, co-founder of trading suite Decentrader, $25,000 is now a critical BTC price level. Bitcoin price rally near “a lot of liquidity” After putting in 40% gains in January, Bitcoin continues
Month: January 2023
Troubled cryptocurrency company Digital Currency Group (DCG) is facing more legal issues as its subsidiary Genesis Capital got slapped with a new class action lawsuit. A group of Genesis creditors filed a securities class action (SCA) lawsuit against DCG and its founder and CEO Barry Silbert, alleging violations of the federal securities laws. The lawsuit
Summary: Developers finalized the ‘Withdrawal-Mainnet-Shadow-Fork-1’ on Thursday. The move marks the first major test phase for Ethereum’s hyped Shanghai updated in March 2023. ETH Developer Marius Van Der Wijden noted configuration difficulties on Geth but said progress is underway. Ethereum developers announced a ‘shadow fork’ of the Shanghai update built to test the withdrawal of
Bitcoin’s (BTC) price has risen about 37% year-to-date and is not showing any signs of slowing down. The S&P 500 index (SPX) has also made a winning start to the year but has seen a relatively muted rally of roughly 4%. While the price of risky assets are rising, the United States dollar index (DXY),
Cathie Wood’s Ark Invest offloaded a chunk of its Grayscale Bitcoin Trust (GBTC) shares since November’s Bitcoin (BTC) price lows, the latest data shows. Cathie Wood’s Ark short-term cautious on GBTC Ark Invest added 450,272 GBTC shares worth $4.5 million to its ARK Next Generation Internet ETF (ARKW) in November 2022. At the time, GBTC was trading
Singapore’s senior minister and the chairman of the central bank, the Monetary Authority of Singapore (MAS), says there should be just “one regulatory system” for both crypto and traditional finance. In addition, he stressed that regulators should provide “ultra clarity as to what’s an unregulated market,” so investors are aware that they go in at
Bitcoin (BTC) rallied 11% between Jan. 20 and Jan. 21, reaching the $23,000 level and shattering bears’ expectations for a pullback to $20,000. Even more notable is the move brought demand from Asia-based retail investors, according to data from a key stablecoin premium indicator. Traders should note that the tech-heavy Nasdaq 100 index also gained
As the proposed date for the Ethereum Shanghai update draws closer, developers have created a testing environment called a “shadow fork,” according to a Jan. 23 tweet thread by Go-Ethereum developer Marius Van Der Wijden. The new testnet appears to have been created in order to test the conditions needed for Ether (ETH) staking withdrawals,
The approach to crypto regulatory enforcement by the United States Securities and Exchange Commission (SEC) has stalled the advancement of Bitcoin (BTC) in the country, according to the CEO of Grayscale Investments. In a letter published in The Wall Street Journal on Jan. 23, the chief of the cryptocurrency asset management firm, Michael Sonnenshein, said
The XRP Ledger will see a new amendment go live today, without the explicit approval of Ripple (as always). The “CheckCashMakesTrustLine” amendment will be automatically activated on the XRP Ledger today with a majority of 27 out of 34 votes. The amendment will adjust the “checks” feature of the XRP Ledger that has been available
Ethereum developers have begun finalizing the Shanghai upgrade “shadow fork,” according to software engineer Marius van der Wijden. The “shadow fork” will serve as a testing environment for the Shanghai upgrade, allowing developers to identify bugs and any potential issues. Ethereum’s Shanghai Upgrade ‘Shadow Fork’ Launches As the cryptocurrency community awaits the upcoming Shanghai hard
Bitcoin’s mining industry has been relatively stable compared to the bearish price action and the tumultuous fallout of exchanges and lending companies. The network’s hashrate dipped slightly toward the end of 2022, primarily due to an unprecedented blizzard in the U.S., and has since recovered strongly to surpass its previous peak above 270 EH/s. It
The New York Department of Financial Services, or NYDFS, has released guidelines on how licensed crypto firms should handle customer assets should they face “insolvency or similar proceeding”. In a Jan. 23 announcement, NYDFS superintendent Adrienne Harris said crypto firms and exchanges operating under a BitLicense — required in New York state — should segregate
Japan’s new regulations allowing investors to trade using stablecoins like Tether (USDT) are expected to be adopted no later than in June 2023, according to a local financial authority. The Financial Services Agency (FSA) of Japan is working on lifting the ban on the domestic distribution of stablecoins, planning to allow certain stablecoins later this
Axie Infinity (AXS) has rallied 135% month-to-date to reach approximately $14 on Jan. 23, its highest level in two months. Nonetheless, the AXS/USD pair could suffer major losses in the coming weeks owing to a flurry of negative technical and fundamental indicators. Axie Infinity price prints “gravestone” doji The AXS price formed a “gravestone doji”
The company developing China’s blockchain network wants to create a system for international settlements with stablecoins and state-issued digital currencies. The plan is to establish a platform facilitating the use of these two fiat-based digital assets in foreign trade. Company Behind China’s Blockchain Push Aims to Make Stablecoins and State Coins Interoperable Hong Kong-based Red
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