Crypto news

Though Bitcoin touched the 30,000 level after days of violent dumps befalling the crypto market, a large portion of investors have since then remained underwater. The recent market selloff led by Terra and its two native cryptocurrencies plummeting in value has at one point wiped out the crypto market’s total gains attained from 2021. But for spooked investors in Britain experiencing losses, they can now offset them against future gains in tax filings, according to HM Revenue...

Industry analytics firm DappRadar has just released a report on the situation, and it doesn’t look pretty. On May 13, the firm reported that DeFi’s total value locked (TVL) is down more than 40% over the past seven days. It stated that the slump had been caused by investors flipping tokens into stablecoins in preparation to cash out into fiat. However, the massive slump in token prices would also have impacted TVL, a dollar-based figure. At the time of writing, DappRadar was...

Since the 21st of November 2021, the team at Polkadot has conducted regular DOT-based auctions for one of the coveted slots in their parachain network. There are plans for 100 parachain slots, give or take. Auctions for the first 41 have already been planned, with one happening roughly every ten days. The 16th auction started on the 29th of April and ended on the 6th of May with a victory for Polkadex, an order book-based DEX with support for Polkadot, Ethereum, and the...

If you’re in Ohio, Kentucky, or Indiana and you fancy purchasing an automobile with cryptocurrency, you may want to stop by the Jeff Wyler Automotive Family auto center. Recently, the company completed its first vehicular cryptocurrency sale, having sold a certified pre-owned 2021 Mercedes-Benz S580 to someone in Saudi Arabia. Jeff Wyler Automotive Sells a Mercedes for Crypto The news is solid in that it’s pushing the goals of cryptocurrency and bitcoin closer to being...

Litecoin has launched the new privacy-focused MimbleWimble upgrade. The changes have proliferated across the network for use by LTC wallets and nodes. Will it bring new enthusiasm to the flagging PoW coin? Released earlier this month after a majority of nodes approved the MimbleWimble (MWEB) update, the upgraded implementation will be able to transact with new MWEB privacy features. The upgrade was completed at Litecoin block height of 2 million. Lower Fees, More Privacy,...

Several bitcoin advocates – including Jack Dorsey of Twitter fame, Tom Lee from Fundstrat, and Michael Saylor (the CEO of MicroStrategy) – have penned a letter to congressional democrats who are asking that the Environmental Protection Agency (EPA) examine the effects of crypto mining on the planet. Crypto Mining Isn’t the Monster Everyone Thinks It Is The letter is aimed at getting these democrats to rescind their order to have the agency look at the emissions of said...

Elon Musk – the South African billionaire and entrepreneur known for both Tesla and SpaceX – has purchased Twitter from Jack Dorsey. The irony of the situation is that one of the world’s biggest social media platforms is being sold by one of the largest crypto fans to one of the largest crypt fans. Elon Musk Is Now Twitter’s New Owner Elon Musk has sworn up and down that his ownership of Twitter will bring about a new level of free speech that many users have not been...

The CEO of the world’s leading cryptocurrency exchange Binance, Changpeng Zhao (CZ), said that he expects more transparency from Luna’s team following last week’s UST-LUNA fiasco. Last week saw a top cryptocurrency literally go to zero in a matter of days. UST – Terra’s algorithmic stablecoin – lost its peg and crashed to some $0.225. Because of how the protocol works, this created a massive arbitrage opportunity as users could burn 1 UST and receive $1 worth of LUNA. So long...

When it comes to blockchain transactions, some mistakes are irreversible and could cost one a fortune. Sadly, though, every now and then, crypto investors make these as the most recent one was from the owner of Ape #6462, who sold the NFT for $200 USDC. BAYC Holder Sells Ape #6462 for $200 On Sunday, Boredapebot, a Twitter handle that posts sales of Apes from the Bored Ape Yacht Club (BAYC) collection, revealed that someone sold Ape #6462 for a measly 200 USDC ($200). Bored...

Since the sharp drop in the crypto markets three days ago, Ethereum was able to recover about 14% from its lowest level at $1,800. However, the daily candlesticks structure remains weak. Technical Analysis Technical Analysis By Grizzly The Daily Chart On the daily timeframe, $1700 is considered a long-term support level for ETH, which has prevented further price drops in May, June, and July 2021. Although this level has not been broken down yet, the ETH price did not repeat...