Trading
Beyond the NFT hype: The need for reimagining digital art’s value proposition
With cryptocurrency prices wavering this year, nonfungible tokens (NFTs) and other sub-ecosystem investors have also found themselves in the grips of a bear market. However, looking beyond the trading value of Ether (ETH), NFTs were primarily created to represent assets and ownership in the real and virtual world. The bear market, as a result, has reignited discussions around how NFTs can backtrack and focus on attending to use cases while the market recovers. In a conversation with Cointelegraph, Tony Ling, the co-founder of analytics platform NFTGo, shared insights into the NFT ecosystem, revealing the expected trajectory of the ecosystem. Cointelegraph: NFTs’ rise to mainstream popularity is often attributed to the various real-world use cases it can and has solved. What is your take on...
Global inflation mounts: How stablecoins are helping protect savings
Economies around the world are facing a motley of challenges caused by rising inflation. High inflation devalues national currencies, which, in turn, pushes up the cost of living, especially in scenarios where earnings remain unchanged. In the United States, the government has responded aggressivelyto inflation. The nation hit a 9.1% inflation rate in June, prompting the Federal Reserve to implement a series of fiscal countermeasures designed to prevent the economy from overheating. Hiking interest rates was one of them. Soaring Fed interest rates have consequently slowed down consumer spending and business growth in the country. The counter-inflation approach has also strengthened the value of the U.S. dollar against other currencies due to tight dollar liquidity checks. As 79.5% of all i...
Collapse of Terra blockchain ecosystem forces talent migration
At the height of the 2022 bull market, the Terra ecosystem was booming with talent and innovation. The native token of the Terra blockchain had made its way to the top-10 cryptocurrencies by total market capitalization. Protocols were building the next iteration of a super cycle that seemed like it would never end. Terraform Labs created Terra amid the crypto market crash of 2018 and built it all through the bear market. The Terra ecosystem’s main appeal and claim for glory came from their offer of the best yields in decentralized finance (DeFi), with up to 20% yield on its stablecoin through the Anchor protocol. As of March 2022, Terra had a total of 73 projects built in the ecosystem. The ambition of the team was to onboard at least 87 more projects by the end of the year. Terra wa...
3 reasons why Bitcoin traders should be bullish on BTC
Bitcoin (BTC) has been in a rut, and BTC’s price is likely to stay in its current downtrend. But like I mentioned last week, when nobody is talking about Bitcoin, that’s usually the best time to be buying Bitcoin. In the last week, the price took another tumble, dropping below $19,000 on Sept. 6 and currently, BTC bulls are struggling to flip $19,000–$20,000 back to support. Just this week, Federal Reserve Chairman Jerome Powell reiterated the Fed’s dedication to doing literally whatever it takes to combat inflation “until the job is done,” and market analysts have increased their interest rate hike predictions from 0.50 basis points to 0.75. Basically, interest rate hikes and quantitative tightening are meant to crush consumer demand, which in turn, eventually leads to a decrease in...
Binance to temporarily suspend ETH and WETH deposits and withdrawals ahead of the Merge
Cryptocurrency exchange Binance announced Monday that it plans to halt all deposits and withdrawals of Ethereum (ETH) and Wrapped Ethereum (WETH) on selected networks, starting September 6th at 2 am (UTC) in anticipation of Ethereum’s Merge event. #Binance will suspend deposits and withdrawals for Ether $ETH and Wrapped Ether $WETH on the following networks starting from September 6, 2022 at 02:00am UTC. ETH (Arbitrum) ETH (OP) WETH (RON) — Binance (@binance) September 5, 2022 In the announcement, the company shared a list of tokens and networks that will be impacted during the Merge — Namely ETH (Arbitrum), ETH (OP) and WETH (RON). The company stated that deposits of Ethereum (ETH) and Wrapped Ethereum (WETH) made on these networks during the suspension will not ...
Ripples of Bitcoin adoption at Biarritz’s Surfin Bitcoin Conference in France
A sublime sunset enveloped Biarritz Casino on Aug. 27, bringing France’s largest Bitcoin (BTC) conference to a close. Located in southwest France and organized by French Bitcoin exchange Stackin Sat, Surfin Bitcoin assembled a host of Bitcoin OG’s, newbies and no coiners, those yet to buy or earn crypto, in a setting that would rival any Hollywood film set. Bitcoiners networked in the hope of learning more about the Lightning Network, landing jobs at one of the many French Bitcoin companies present — from Galoy Money to Découvre Bitcoin — or simply rubbing shoulders with fellow Bitcoin believers. In a touch of bear market irony, as the Bitcoin chips are currently way down, the event venue took place at the illustrious Biarritz Casino. From Bitcoin core maintainers to European royalty...
More than 50% of reported Bitcoin trading volume is ‘likely to be fake or non-economic’ — Report
Bitcoin trading data from 157 exchanges reportedly did not match up to what companies claimed. According to an Aug. 26 report from Forbes, Javier Pax of the news outlet’s digital asset arm said there was a mismatch between the Bitcoin (BTC) trading data reported by crypto exchanges and the actual numbers. The Forbes contributor found that a group of small exchanges had BTC trading volumes roughly 95% less than those reported, while those operating “with little or no regulatory oversight” — including Binance and Bybit — claimed to have more than double the analyzed volume: $217 billion as opposed to $89 billion. “More than half of all reported trading volume is likely to be fake or non-economic,” said Pax. “The global daily Bitcoin volume for the industry was $128 billion on June 14. That i...
3 ways to trade Bitcoin and altcoins during a bear market
Markets are scary right now, and while the situation is likely to worsen, it doesn’t mean investors need to sit out and watch from the sidelines. In fact, history has proven that one of the best times to buy Bitcoin (BTC) is when no one is talking about Bitcoin. Remember the 2018–2020 crypto winter? I do. Hardly anyone, including mainstream media, was talking about crypto in a positive or negative way. It was during this time of prolonged downtrend and lengthy sideways chop that smart investors were accumulating in preparation for the next bull trend. Of course, nobody knew “when” this parabolic advance would take place, but the example is purely meant to illustrate that crypto might be in a crab market, but there are still great strategies for investing in Bitcoin. Let’s take a look at th...
How to tell if a cryptocurrency project is a Ponzi scheme
The crypto world has experienced an increase in Ponzi schemes since 2016 when the market gained mainstream prominence. Many shady investment programs are designed to take advantage of the hype behind cryptocurrency booms to beguile impressionable investors. Ponzi schemes have become rampant in the sector primarily due to the decentralized nature of blockchain technology which enables scammers to sidestep centralized monetary authorities who would otherwise flag or freeze suspicious transactions. The immutable nature of blockchain systems that makes fund transfers irreversible also works in the scammers’ favor by making it harder for Ponzi victims to get their money back. Speaking to Cointelegraph earlier this week, KuCoin exchange CEO Johnny Lyu said that the sector was fertile ground for ...
Why $20.8K is a critical level for Bitcoin | Find out now on Market Talks with Charlie Burton
In this week’s episode of Market Talks, we welcome professional trader Charlie Burton. Charlie is a professional trader with 24 years of experience and has been trading full-time since 2001. He is the founder of EzeeTrader and Charlie Burton Trading. He is also undefeated in the annual London Forex show live trade-off for the five years it was running. He has also been featured in the hugely popular BBC documentary “Trader, Millions by the Minute.” Charlie is one of the very few trading educators who is also a professional money manager trading FCA-regulated capital. The main topic of discussion with Charlie will be the current support level for Bitcoin (BTC) and why it is so critical. If Bitcoin goes below its current support, what are other major price levels you should...
Binance vs. FTX: CZ calls out ‘bad players’ for crypto exchange jitters
The CEO of crypto exchange Binance, Changpeng ‘CZ’ Zhao, raised concern for traders after learning about the infamous phenomenon of trade jitters on other crypto exchanges. Jitters in crypto trading relate to a trade event wherein an investor’s buy or sell order gets stuck and moves down in the list, allowing newer trade orders to go through. Just learned a new word, jitters. On 1 particular exchange, sometimes your orders will be stuck for a bit, and a few other orders will get in front of you. Apparently, this happens often enough on this exchange that the traders coined a term for it, jitters. (Front running) — CZ Binance (@cz_binance) August 19, 2022 While CZ’s concerns against jitters did not explicitly target any particular exchange, the crypto community on Twitter assumed it w...
Canadian regulatory council creates new preregistration filing for crypto platforms
The Canadian Securities Administrators (CSA), the council of provincial and territorial securities regulators, announced Monday that crypto trading platforms will be expected to provide a preregistration undertaking to their principal regulators as they take steps to comply fully with securities regulation. Two platforms, Crypto.com and the Canadian platform Coinsquare Capital Markets, have already filed those undertakings. Trading platforms will be expected to agree in the undertaking to comply with terms and conditions relating to investor protection. Filing the undertaking will allow crypto trading platforms to continue operating during the review of their applications for registration with the CSA. The new undertaking is part of the “interim approach” introduced in the guida...
