Crypto news

As Ethereum exits its recent consolidation range and aims for the next significant resistance level, the price action leans positive. Technical Analysis By: Edris The Daily Chart On the daily chart, the price has been consolidating in a tight range over several weeks. However, it finally seems that a bullish continuation is the most probable scenario. In this case, the $1800 resistance level and the higher boundary of the large symmetrical triangle could finally be tested in...

Illicit cryptocurrency transactions increased tenfold in 2022, marking the highest total figure yet in the history of crypto. In what was arguably the worst year for bitcoin and its crypto cousins to date, close to $20 billion in illicit crypto was transferred to suspicious addresses. Illicit Crypto Activity Reached a Pinnacle Last Year This beats the previous record set in 2021, which was $18 billion. The new number outdoes the previous one by roughly $2 billion. Kim...

2022 was not a great year for decentralized finance (DeFi). The industry saw implosion in itself thanks to the unsustainable high yields that eventually caused the model to collapse. But DeFi is far from dead. A similar sentiment was echoed by prominent Web3 developer Andre Cronje, who said he does not believe that high yields are “long gone” and that DeFi is seeing almost “zero growth.” DeFi Will Still Simply be DeFi At present, the real yields for ETH, USDT, DAI, and USDC...

January proved to be a somewhat powerful month for bitcoin, which rose beyond the $18K mark by the midway point. Though this is nothing compared to the all-time high of $68,000 it achieved in November of 2021, the jump was a welcomed change from the bearish conditions so many fans, traders, and investors were privy to in 2022. Bitcoin Saw a Good Month in January The previous year was arguably the worst time for bitcoin and the crypto scene. Bitcoin lost more than 70...

Digital currency firm Blockchain.com has announced it’s going to be laying off approximately 25 percent of its staff, which amounts to about 150 separate people at the time of writing. The company is just the latest to fall victim to the bearish digital currency conditions which first began in 2022, and it doesn’t look like the trend is going to stop in the immediate future. Blockchain.com Staff Members Are Made to Say Goodbye Blockchain.com is also shutting down its...

Marathon Digital Holdings – one of the leading bitcoin miners – mined 687 BTC in January 2023, a 45% increase compared to the last month of 2022.  However, the company shifted from its non-selling strategy, parting with 1,500 BTC to cover operational expenses. Change of Plans Marathon started the year by producing 687 BTC in January, a significant increase compared to 475 BTC in December 2022. Fred Thiel – Chairman and CEO – explained that the better results resulted from the...

Bitcoin was quite volatile after the US Federal Reserve announced the latest interest rate hike, which ultimately resulted in tapping a new 5-month high. Since then, though, the asset has calmed at around $23,000. Several altcoins have outperformed it in the past 24 hours, including Shiba Inu, which has soared by double digits. Bitcoin Drops Back Down to $23K Despite losing some ground at the end of January, BTC still closed it well in the green, posting its best month since...

Nandalal Weerasinghe – Governor of the Central Bank of Sri Lanka – rejected Tim Draper’s idea to eliminate corruption in the country by embracing bitcoin. The banker argued that adopting the primary cryptocurrency could worsen the economic situation of the nation. Dismissing the Bitcoin Concept The American venture capital investor recently visited Sri Lanka to shoot an episode of his TV show “Meet the Drapers.” He also held discussions with the President of the country –...

Blockchain security firm PeckShield has disclosed a series of transfers from three addresses, including one from crypto exchange Bitfinex to Alameda Research’s consolidation wallet. According to Etherscan, the address labeled “Alameda Consolidation” received $13 million worth of crypto assets from three different wallets. The first belongs to the leading crypto exchange Bitfinex. It transferred approximately 6 million USDT and 1,545 ether (ETH), amounting to roughly $8.5...

The once-prominent bitcoin miner Core Scientific inked an agreement with the New York Digital Investment Group (NYDIG) to hand over 27,403 of its mining machines and thus pay off an outstanding debt of $38.6 million. The company filed for bankruptcy protection a few days before Christmas 2022. Looking for a Way Out According to a filing with the bankruptcy court for the southern district of Texas, Core Scientific agreed to transfer over 27,000 of its mining rigs (around 18%...