Altcoins

Terraform Labs in Seoul, South Korea is looking to buy as much as $10 billion worth of bitcoin to back its own stable currency, which it’s looking to release soon into the crypto market. The company is also looking to make bitcoin the world’s new reserve currency. Terraform Labs Has Big Plans for Bitcoin At the time of writing, Terraform Labs has garnered roughly 40,000 bitcoin units, which are worth about $1.7 billion. The purchases were made with the assistance of Luna...

Thailand’s Gulf Energy Development Public Company Ltd. recently announced that it had made a significant investment in the US affiliate of the leading cryptocurrency exchange, Binance. Gulf Invests in Binance US and BNB According to a regulatory filing with the Thailand Stock Exchange today, the Thailand-based energy company revealed that it had invested in “Series Seed Preferred Stock” through its wholly-owned subsidiary, Gulf International Investments Limited. The assets...

Stellar lumen price started a fresh decline from the $0.2120 resistance zone against the US Dollar. XLM price is now trading below $0.2000 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $0.2000 on the 4-hours chart (data feed via Kraken). The pair could continue to decline if there is a move below the $0.1850 support. Stellar lumen price is trading in a bearish zone below $0.2000 against the US Dollar, similar...

Ripple price started a fresh decline from the $0.8000 zone against the US dollar. The price is now trading below $0.76 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $0.7700 on the 4-hours chart of the XRP/USD pair (data source from Bittrex). The pair could extend decline if there is a move below the $0.7200 support zone. Ripple price is struggling below $0.7800 against the US Dollar, similar to bitcoin. XRP...

Regulators in the United States believe stable coins will be the first digital assets to come under scrutiny. Stable Coins Are the Object of Regulators’ Suspicions Stable coins are digital currencies that are not as volatile as standard forms of crypto like bitcoin or Ethereum. They are tied to fiat currencies like USD, the yen, and the euro, and thus experience far fewer price swings. This has made them “staples” of any crypto portfolio looking to ease selling pressure...

The cryptocurrency market continues to be untypically calm, with bitcoin failing to make a decisive move while still standing above $40,000. Most of the altcoin space is in a similar position, except for Filecoin, which soared by double digits. Bitcoin Stands Still at $40K It was just over ten days ago when the primary cryptocurrency failed at $47,000 and started its gradual descent. In a matter of days, the asset found itself dropping to $45,000 and $43,000. Somewhat...

Dutton Garage – a luxury car dealership in Australia – is partnering with crypto company Coin Spot to allow car buyers to purchase their next vehicles with digital currencies like bitcoin. Dutton Garage Is Open to Letting People Buy Porsches with BTC One of the big things that everyone forgets about crypto is that it was initially designed to serve as a payment method. Bitcoin, Ethereum, and many other altcoins to emerge over the last ten years or so were built as a...

Circle Internet Financial, the issuer of USDC stablecoin, is planning to apply for a crypto bank license in the US in the near future.  According to co-founder and CEO Jeremy Allaire, the company has been in talks with regulators on the issue since August 2021, when it first revealed plans to convert into a bank, a Bloomberg report said on Wednesday.  Allaire said the firm will apply “hopefully in the near future.”  The Circle management has been in talks with the US Office...

Tether Operations Limited, the operator of Tether.io, has announced the launch of USDT on Polkadot’s canary network – Kusama. The company said the move will enable developers to compose trustless applications across chains, communities, and networks. Tether on Kusama According to the press release shared with CryptoPotato, USDT will be deemed with the asset ID 1984 and utilized to power transactions on Kusama’s first parachain – Statemine at launch. The parachain enables the...

Solana price started a fresh decline from the $120 resistance against the US Dollar. The price is now trading below $110.00 and the 55 simple moving average (4-hours). There was a break below a key contracting triangle forming with support near $124 on the 4-hours chart of the SOL/USD pair (data feed from Coinbase). The pair must clear $108 to start a decent recovery wave in the near term. Solano price is struggling to stay above $100 against the US Dollar, similar to...