Crypto news
Analysts say Bitcoin’s open interest wipeout ‘will give way to further upside’
The weekend is upon us and fear remains the dominant short-term sentiment in the cryptocurrency market. Earlier today Bitcoin (BTC) price dropped to $47,250 and investors are biting their nails after data from the U.S. consumer price index (CPI) shows inflation reaching a forty-year high at 6.8%. Data from Cointelegraph Markets Pro and TradingView shows that a midday push by bulls to reclaim the $50,000 support level was handily defeated and sellers sent the price back below $48,000 which could possibly force another daily lower high for the top-ranked cryptocurrency. BTC/USDT 4-hour chart. Source: TradingView With the prospect of a major run up in price to end the year all but dashed, traders have shifted their attention to managing risk and identifying the best levels to buy dips. ...
Altcoin Roundup: 3 metrics that traders can use to effectively analyze DeFi tokens
Much to the chagrin of cryptocurrency proponents who call for the immediate mass adoption of blockchain technology, there are many “digital landmines” that exist in the crypto ecosystem such as rug pulls and protocol hacks that can give new users the experience of being lost at sea. There’s more to investing than just technical analysis and gut feelings. Over the past year, a handful of blockchain analysis platforms launched dashboards with metrics that help provide greater insight into the fundamentals supporting — or the lack thereof — a cryptocurrency project. Here are three key factors to take into consideration when evaluating whether an altcoin or decentralized finance (DeFi) project is a sound investment. Check the project’s community and developer activity One of the basic wa...
Assembly announces $100M capital raise, receives praise from Iota co-founder Dominik Schiener
On Friday, Assembly, a decentralized layer one smart contract network built within the Iota ecosystem, announced it had raised $100 million from private investors, including LD Capital, HyperChain Capital and Huobi Ventures. The project stated that the funds will be used to accelerate the development of decentralized finance protocols, nonfungible tokens (NFTs) and play-to-earn crypto games. Iota is a blockchain designed for facilitating Internet-of-Things transactions. Its proprietary technology consists of a system of decentralized acyclic graphs that can connect to one another in multiple vectors as opposed to in-series as with a regular blockchain. As a result, one new block can validate two other blocks, leading to self-sustainable transaction verification. This allegedly leads to the...
FLUX, SFP and Badger DAO surge even as Bitcoin price falls to $47K
The year-long mantra that the crypto market would see a blow-off top in December has proven to be a dud thus far and for the last week, most cryptocurrencies have been under sell pressure and Bitcoin (BTC) is encountering difficulty in trading above $47,000. That said, it’s not all bad news for cryptocurrency holders on Dec. 10 because several altcoins have managed to post double-digit gains due to new exchange listings and protocol upgrades. 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 24-hours were Flux (FLUX), SafePal (SFP) and Badger DAO (BADGER). FLUX benefits from the “Binance bump” Flux is a GPU mineable proof-of-work p...
Finance Redefined: AWS turns crypto exchanges offline, and Sushi CTO resigns, Dec. 3–10
Welcome to the latest edition of Cointelegraph’s decentralized finance newsletter. Although the markets may be down and technical indicators built upon AWS malfunctioning, fear not young degens, fundamental news and the spirit of Wagmi is abundant as ever. So, read on and discover all you need to know about the most important events of this week. What you’re about to read is a shorter, more succinct version of the newsletter. For a comprehensive summary of DeFi’s developments over the last week, subscribe below. AWS outage highlights the need for truly decentralized exchanges. An Amazon Web Service outage this week produced significant cascading effects on the global supply chain and delivery industry, as well as hours-long operational disruptions to decentralized exchange dYdX and le...
Former SushiSwap CTO writes short reflection about leadership failures at blockchain DEX
On Friday, Joseph Delong, former chief technology officer of decentralized exchange, or DEX, SushiSwap, published a brief reflection of experiences during his tenure. Delong unilaterally resigned two days prior, citing internal structural chaos among developers behind the popular DEX. In explaining his decision, Delong outlined failures to scale operations, lack of organization skills, problematic contributors, and poor communication as the primary reasons. On Twitter and among blockchain personalities alike, Delong received mostly praises for coming public with his experience and learning from his mistakes. According to Delong, he did not inform the Sushi community when problems began to surface amongst developers he managed, nor did he engage with users enough to build rapport for the pr...
South Africa Set For a Boost in NFT Adoption in the Near Future
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Cryptocurrency and Cybercrime: 3 Insights You Need to Know
Image sourced from Shutterstock. Criminals have kept pace with changing technologies by no longer wanting their crimes to generate hard cash – bitcoin has become the currency of choice. That’s particularly true for cybercrime, where ransomware is booming as criminals infiltrate organisations’ IT systems and threaten to publish or destroy crucial data unless a ransom is paid in Bitcoin. Here are 3 insights you need to know about the links between cybercrime and cryptocurrency: 1. Cryptocurrency is Fuelling Cybercrime Ransomware payments have become so huge that attacks are mounting daily. A recent high-profile case was an attack on the US Colonial Pipeline, causing the system that carries 2.5 million barrels of oil a day to be shut off. It’s become such a lucrative business that some syndic...
Top 4 Most Trending Stories – Week in Review
/* custom css */ .tdi_4_f6c.td-a-rec-img{ text-align: left; }.tdi_4_f6c.td-a-rec-img img{ margin: 0 auto 0 0; } As this week comes to a close we take a look at the stories that resonated most with our readers. An enormous underwater mudslide cripples the internet. The South African government seeks to regulate Netflix and other digital streaming services, and how blockchain and cryptocurrency can increase financial inclusion in developing countries. Finally, the Huawei Band 6 round out this week’s most trending stories. Find out more about this week’s top articles: /* custom css */ .tdi_3_f21.td-a-rec-img{ text-align: left; }.tdi_3_f21.td-a-rec-img img{ margin: 0 auto 0 0; } 4. How Blockchain and Crypto Can Lessen Financial Exclusion in Developing Countries COVID-19 has had many different ...
Elon Musk Tweet causes Dogecoin Price to Soar
Image sourced from Hypebeast Elon Musk is making headlines after causing the price of Dogecoin to surge to an all-time high. On Sunday, the tech entrepreneur tweeted “Who let the Doge out”, resulting in a 53% rise over the last 24 hours. Dogecoin’s record value is now 8.2 cents with a market value of $10 billion – making it the 8th biggest cryptocurrency, according to Bloomberg. 🎶 Who let the Doge out 🎶 — Elon Musk (@elonmusk) February 7, 2021 Dogecoin was introduced in 2013 as a joke. Initially, founders Jackson Palmer and Billy Markus wanted to satirize the growth of altcoins by turning the doge internet meme into a cryptocurrency. /* custom css */ .tdi_3_667.td-a-rec-img{ text-align: left; }.tdi_3_667.td-a-rec-img img{ margin: 0 auto 0 0; } Their joke quickly grew in pop...
South African Crypto Traders should Gear Up for Stricter Taxes
Over the last five years, South Africa has emerged as one of the world’s most notable cryptocurrency adopters, and an estimated 13% of its internet users owning or using cryptocurrencies. With the South African Bitcoin/ZAR weekly trading volume – to name just one – currently standing close to R30million, there are various manners in which the South African Revenue Service (SARS) can track the gains made by South African taxpayers who trade cryptocurrencies. This is according to Wiehann Olivier, Partner at the Audit Division of Mazars in South Africa, who says that there are various techniques SARS could apply for the direct taxing of cryptocurrencies. “To start, the fact that cryptocurrencies were created to allow for anonymous, frictionless and trusted peer-to-peer transaction to be condu...
More Women In Africa are Turning To Cryptos, Research Shows
Sourced from Hacker Noon. The COVID-19 pandemic has brought the global economy to a standstill and put millions of people under financial stress. Understandably, people from all walks of life started looking for alternative income streams. Not only are these side jobs providing women with additional income, but they are also giving individuals an opportunity to develop new skills in the bitcoin and blockchain space. Blockchain skills are in high demand internationally and may unlock new career opportunities or set the ground for running a successful business in the future. Beyond speculative activities, bitcoin already drives a whole range of entrepreneurial ventures including arbitrage, remittance, e-commerce and educational projects, to name a few. /* custom css */ .tdi_3_b38.td-a-...
