Turkey is reportedly drafting crypto legislation to be submitted to parliament in the coming weeks. The bill may also impose taxes on some crypto transactions. New Turkish Crypto Legislation Underway Turkey is drafting a bill to establish new rules for the crypto industry, Bloomberg reported last week, citing two unnamed Turkish officials familiar with the
Pseudonymous Shiba Inu (SHIB) founder ‘Ryoshi’ has walked away from the community after deleting all of their Tweets and blog posts this week. Much like Bitcoin (BTC) founder Satoshi Nakamoto, Ryoshi’s identity has remained unknown since the project launched in August 2020. Additionally, they have also held a hands-off approach to the memecoin much like
Ethereum’s native token Ether (ETH) rose by more than 5% to reach its intraday high above $1,930 on May 30. Nonetheless, the ETH/USD pair risks facing another sell-off round due to concerns about a massive ETH inflow into an exchange. 58.7K Ether transferred to FTX in May On May 30, the Ether address allegedly associated
Bear markets are typically marked by a capitulation event where discouraged investors finally abandon their positions and asset prices either consolidate as inflows to the sector taper off or a bottoming process begins. According to a recent report from Glassnode, Bitcoin hodlers are now “the only ones left” and they appear to be “doubling down
On May 30, the cryptocurrency market experienced a much-needed bounce that saw Bitcoin (BTC) climb above $30,900 and Ether (ETH) rally 5.84% to $1,930, but analysts warn that it could be too early to expect a reversal. ETH/USDT 1-day chart. Source: TradingView Here’s a look at what several analysts are saying about the outlook for
Paraguay is viewed by many as a potential hot spot for cryptocurrency adoption due to low electricity costs and relatively soft taxation. The government has recognized this opportunity by pushing forward new legislation around digital assets. On May 25, a bill that regulates cryptocurrency trading, mining and custody was approved by the Paraguayan Congress on
Generating a yield on crypto is increasingly tricky. The Terra ecosystem implosion — where up to $50 billion was wiped out — led to a decline in decentralized finance (DeFi) protocols offering interest. At the other end of the table, centralized finance, or CeFi, where all processes are rooted through a central body, has endured a comparatively
Bitcoin (BTC) stayed higher on May 30 as early week gains saw BTC/USD retain $30,500. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView $32,000, $35,000 flagged as lines in the sand Data from Cointelegraph Markets Pro and TradingView showed the largest cryptocurrency consolidating near that $30,600 at the time of writing after hitting highs of $30,900 on
Crypto miners account for two percent of the total electricity consumption in Russia, according to the latest government estimate. The energy consumption share of the crypto mining industry has exceeded the country’s agricultural sector, showing signs of recovery after Russia fell out of the top three in the global Bitcoin (BTC) mining hash rate share.
These can be anxious times for holders of cryptocurrencies, especially those who entered the market in late 2021 when prices were cresting. Bitcoin (BTC), Ether (ETH) and especially altcoins now appear to be undergoing a major reset, down 50% or more from November highs. Some worry that a whole generation of crypto adopters could be
The government of Kazakhstan, one of the world’s largest countries by the Bitcoin (BTC) mining hash rate distribution, has reported budget earnings derived from cryptocurrency mining. On May 30, Kazakhstan’s state revenue committee of the Ministry of Finance released a report on the amount of total energy fees paid by local crypto miners in the
Bitcoin rose above $30,000 to start the week, with bearish sentiment marginally fading as we head into June. ETH also rallied on Monday, however the world’s second largest cryptocurrency continued to hover below $1,900. Bitcoin Following almost five days trading below $30,000, BTC finally surged, with prices climbing to their highest point in over two
Quick take: Over 34 million addresses that hold ETH are in loss positions. The second-largest crypto is down over 10% in the last week. Other altcoins across the market are also down as the markets hit a lull. Ethereum’s transition to PoS could still happen in August despite the reorg attack on the Beacon chain.
Further cementing India’s decision to introduce an in-house central bank digital currency (CBDC) in 2022-23, the Reserve Bank of India (RBI) proposed a three-step graded approach for rolling out CBDC “with little or no disruption” to the traditional financial system. In February, while discussing the budget for 2022, Indian finance minister Nirmala Sitharaman spoke about
Bitcoin (BTC) clung to $29,000 at the May 27 Wall Street open as crucial support levels lay just hundreds of dollars from spot price. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Trader demands higher low above $28,000 Data from Cointelegraph Markets Pro and TradingView confirmed volatility once again waning in a frustrating week’s price action. BTC/USD
Buying low and selling high is easier said than done, especially when emotion and volatile markets are thrown into the mix. Historically speaking, the best deals are to be found when there is “blood on the streets,” but the danger of catching a falling knife usually keeps most investors planted on the sidelines. The month