Crypto news

Elon Musk has also made a bold prediction that the global recession will continue until near 2024 Bitcoin halving.Bitcoin has been in a bearish mode for some time with Peter Brandt, founder and CEO of proprietary trading firm Factor LLC predicting that the asset could trade between $17,000 and $23,000 till next year and a half before staging a bull run into new all-time highs. The current bear market has been linked to interest rate hikes to address the rising inflation, and it is unknown...

Alphabet’s ad revenue from YouTube tanks by 2% against market expectations. The GOOGL stock price has slipped once again under $100 this year.During the aftermarket trading session on Tuesday, October 24, shares of Alphabet (NASDAQ: GOOGL) dropped nearly 7% on weaker-than-expected Q3 2022 earnings.Alphabet and Its Performance in Q3 2022The company’s revenue growth slowed to 6% from 41% a year ago as the company sees a major dip in online ad spending. This also turns out to be the weakest...

Solana price started a decent increase from the $26.80 support against the US Dollar. The price is now trading above $29.50 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near $29.50 on the 4-hours chart of the SOL/USD pair (data feed from Coinbase). The pair must clear $32.00 and $32.50 to continue higher in the near term. Solana price is trading above $30 against the US Dollar, similar to bitcoin. SOL...

Bitcoin price started a fresh increase above the $20,000 zone against the US Dollar. The price is now trading above $19,500 and the 55 simple moving average (4-hours). There was a break above a key bearish trend line with resistance near $19,200 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase). The pair could continue to rise if there is a clear move above $20,400 level. Bitcoin price is rising above $20,000 against the US Dollar. BTC might gain bullish...

Hashed CEO and an early backer of the ill-fated LUNC token, Kim Seo-joon, failed to appear before a South Korean congressional inquiry into the crash. He cited “mental conditions” as the reason for his absence from South Korea’s National Assembly’s Political Affairs Committee, which he supposedly developed since the spectacular $40 billion wipeout in May 2022. Kim Seo-joon No-Show at Hearing According to a recent report, the exec revealed to have been “under extreme stress”...

On October 24, CEO Elon Musk confirmed during a video conference with a group of bankers that he is prepared to close the acquisition of Twitter by Friday, October 28. According to sources interviewed by Bloomberg, the banks provided $13 billion in financing to the electric car mogul to finalize the purchase, which is in the final stages of its paperwork. Wall Street lenders had been preparing for weeks in anticipation of the purchase. The court handling the Twitter case set...

The power tussle between the United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over regulatory oversight of the crypto market continues to confuse investors about which rules to follow.  In line with the turf war conflict between the two market watchdogs, CFTC chairman Rostin Behnam has reiterated that Bitcoin (BTC) and Ethereum (ETH) are commodities, not securities.  Behnam Says Ether is Commodity Despite PoS...

Rishi Sunak is all set to take over the role of the prime minister of the United Kingdom in a few days. Amidst dire economic headwinds, Sunak was voted into office after Liz Truss, who only served a record-breaking 45 days, announced her resignation as a result of a maelstrom of criticism over her failed fiscal policies. Sunak, for one, is a proponent of the crypto industry and had previously championed regulation. UK Crypto Regulation During his stint as the Finance...

The gloomy market condition has failed to deter long-term Bitcoin holders who are currently in possession of more than 75% of all existing BTC. As per an analyst at the crypto analytics platform CryptoQuant, this level was last seen in October 2015. The sentiment of long-term holders is important as they represent experienced market participants that have been through different phases of the market. The analyst explained that these entities have lower spending behavior...

2022 is a year that saw a lot of chatter on layer-one protocols such as Ethereum, Solana, the BNB Smart Chain, Avalanche, and many others. The astronomic rise of non-fungible tokens (NFTs) revealed that most of the blockchains were unable to handle the load that comes with some form of mainstream adoption. Before Ethereum transitioned to Proof-of-Stake (read: The Merge), the network was oftentimes clogged, and transaction fees were unimaginably high. In fact, this prompted...