Crypto news

Ripple price started a downside correction from the $0.5850 zone against the US dollar. The price is now trading below $0.512 and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $0.5080 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair could start a major increase above the $0.5120 resistance. Ripple price is consolidating near $0.500 against the US Dollar, similar to Bitcoin. XRP price...

By the end of World War II, the United States found itself in a position of preeminence in the global economy. For decades and generations after that time, its national security has depended on petrodollar hegemony. The standardized use of the dollar for international trade in petroleum and other commodities ensured a constant demand for the currency. This unrelenting massive global demand for U.S. dollars became a generational subsidy. It allowed the central bank to print...

According to a study conducted by the Swedish tax firm Divly, only 0.53% of cryptocurrency investors globally paid taxes on their trades last year.  The average share of people abiding by the rules varies in different countries. For example, over 4% of Finnish investors have paid taxes, while only 0.03% of those in the Philippines have done so. The Trends Across the Globe Divly explored 24 nations to determine what chunk of people in each area declared their cryptocurrency...

The Digital Currency Group will revamp its way of mining Bitcoin amid larger funding problems due mostly in part to another subsidiary of theirs, Genesis, going bankrupt as a result of their dealings with FTX. Freeing Up Revenue Although Genesis reached an agreement with its creditors – the crypto trading platform’s parent company, DCG, being one of them – the former is marked for sell-off as soon as a buyer appears. The arrangement DCG and its subsidiary have entered was a...

A 23-year-old professional with a major tech company who lost nearly Rs. 30 lakh (approx. $37,500) in the cryptocurrency market tried to commit suicide by jumping off a river bridge in Kolkata, India. A cab driver who noticed the young man on the Vidyasagar Setu (bridge) alerted the nearby police about his intentions. Borrowed to Invest in Crypto The police were able to prevent the techie from jumping off the famous bridge into the river, media reports said, without...

New York attorney general Leticia James is suing another digital currency company. This time, the victim is Ku Coin, whom James said failed to register as a security and commodities broker-dealer and is falsely representing itself as a crypto exchange. Ku Coin Is the Victim of a New York Lawsuit On one hand, there are many shady crypto companies out there that have sought to take advantage of customers and those who do business with them. FTX is proof of this, and it’s a...

Last month a crypto Twitter influencer accidentally destroyed their $129K CryptoPunk NFT. Here are some best practices to protect your NFTs from losses to technical mishaps with your crypto. “This is truly a devastating mistake for me.💔 But I did this myself, and it is no one’s fault but my own. Both the beauty and the curse of self-custody,” tweeted crypto investor Brandon Riley, “Stay safe out there, everyone, and please be way more careful than I was. Thank you to so many...

It looks like the Grayscale Bitcoin Trust could be one of the few digital currency companies to get its way against the Securities and Exchange Commission (SEC). After several months of deliberation, the lawsuit the company filed against the federal financial agency could wind up taking a very unexpected turn. Grayscale Might Pull off a Win! Many companies have sought to take on the SEC in the past, though few have been successful. This is arguably what’s making...

Bitcoin’s recent upward trend has ceased, and the price has entered a phase of steady consolidation with no clear direction. The cryptocurrency is currently in a crucial zone, and in order to surpass the significant obstacle of the $30K resistance level, there must be an increase in demand and buying power. Technical Analysis By Shayan The Daily Chart Bitcoin has recently reached a critical zone of $30,000, which has proven to be a significant resistance level.. This level...

Technical Analysis By: Edris Ethereum’s price has been rallying over the past few months, breaking through multiple significant resistance levels. However, the bullish momentum is seemingly fading as the cryptocurrency is struggling to rise at the time of this writing. The Daily Chart: On the daily timeframe, the price has been consolidating above the higher boundary of the large symmetrical triangle pattern and the broken $1800 resistance level. However, it is unable to...