Crypto news

Following the recent recovery of Bitcoin, Ethereum’s price seems to be following suit and is now showing strength after months of bearish price action. The market is breaking above key levels one by one. Is the momentum going to continue? Technical Analysis By: Edris The Daily Chart On the daily timeframe, the price has broken the descending channel pattern to the upside after a rebound from the $1250 support level. The significant bearish trendline is also being tested at...

Australia’s inflation hit 7.3%, which is the highest rate in 32 years. Considering the soaring prices of real estate and gas, analysts expect this figure to surge even more before the year’s end. To preserve their wealth during these turbulent times, locals have displayed increased interest in alternative financial assets, including cryptocurrencies. The Aussie government has also put crypto on its agenda. The new Prime Minister of the nation – Anthony Albanese – vowed to...

Do Kwon – the man behind the doomed digital currency company Terraform Labs – is now set to lose his South Korean passport as authorities continue to hunt him down like a wild animal. Do Kwon Falls Deeper into Hot Water Kwon is the founder of a company that created the failed algorithmic stable coin Terra Luna, which collapsed over the summer after losing its peg and caused traders to lose billions of dollars in wealth over the course of just a few days. While stable...

Over the past year or so, the state of Texas has become one of the go-to regions for people looking to either establish new crypto mining projects or continue what they’ve already started. Several months later, it doesn’t look like that trend is ending anytime soon. Texas Is Still a Mining Powerhouse Things began in the summer of 2021 after China announced it was going to end all crypto mining projects and dub them illegal. The news was shocking given the country hosted...

On Oct. 27, Ripple released its Q3 Markets Report stating that its holdings of XRP have dropped below 50% for the first time. The company proudly stated that it is becoming more decentralized contrary to what critics have claimed. It said the ownership of XRP is not an indicator that Ripple controls XRP Ledger (XRPL). “The XRP Ledger (XRPL) uses Federated Byzantine Consensus to validate transactions, add new features and secure the network, which means that each validator...

Rostin Behnam is the chairman of the Commodity Futures Trading Commission (CFTC), the financial organization that governs bitcoin. Rostin Behnam Is Neutral on Crypto For the most part, Behnam is a neutral figure when it comes to crypto, and he recently sat down for an interview to discuss where he sees the industry going in the coming future. He commented: I think there’s a few folks who wish this technology might go away, think it might go away, think it might go...

After allocating $500 million to support Elon Musk’s Twitter buyout, the world’s largest crypto exchange said it wants to establish a dedicated unit to help the social media platform’s upcoming challenges. The statement from the company, as reported by Bloomberg, informed that one of the key areas where Binance wants to help the most is battling bots. Fake accounts have been a major issue for the social media giant, especially such that promote fraudulent scams, many of which...

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Bitcoin is back on the offensive once more, following the enhanced volatility yesterday, and is close to breaking above $21,000. The altcoins are also well in the green on a daily scale, led by Dogecoin’s massive gains after the Musk-Twitter deal. Bitcoin Retaps $21K The past several days have been significantly more eventful for the cryptocurrency industry and the market price movements. Bitcoin stood still at $19,000 until the middle of the week, when it shot up to over...

The United Kingdom High Court shut down the cryptocurrency firm PGI Global for allegedly running a fraudulent scheme. The company promised investors returns of up to 200% if they purchased digital assets through its platform, but consumers never received such profits. The Latest Crypto Scam in the UK? According to an official press release, the British authorities detected PGI Global’s suspicious activities last month and closed it after determining that the firm stole more...