Crypto news

Solana ecosystem wallet, Phantom, has recently raised $109 million in a Series B funding round led by the crypto venture capital firm, Paradigm. Phantom Hits $1.2 Billion Valuation With the latest cash injection, Phantom has now attained the status of a crypto unicorn firm, as the funding brings its market value to $1.2 billion. In an official blog post published on Monday, Phantom noted that the funds raised will be used to improve the wallet’s technical capabilities. These...

While bitcoin is recovering from its massive 50% crash since reaching the ATH in November 2021, the onchain and technical indicator are not showing strong momentum and signs of a bull run renewal. The market structure is similar to 2021’s Jun – July bottom, and without a catalyst, a likely case for bitcoin is to be traded sideways in the mid-term. Technical Analysis By: Grizzley Long-Term: The Daily On the daily timeframe, by examining historical data of the previous two...

Bitcoin has been incurring heavy dips as of late. Just a few months ago, the world’s number one digital currency by market cap was trading for a whopping $68,000 per unit, but now, the asset has lost nearly $30,000 from its price, and according to many analysts, the year is going to get a lot worse for the currency given that the Federal Reserve is looking to hike rates again. The Federal Reserve Is Pushing Rates Higher This would normally not be a huge deal. Rates...

Speaking at a CNBC program, Silvergate Capital CEO Alan Lane noted on Monday that the organization will launch a stablecoin later this year. Silvergate Stablecoin Silvergate CEO Alan Lane’s revelation that his company is planning to launch a stablecoin through its banking subsidiary Silvergate Bank came during his interview on CNBC’s “Mad Money” program hosted by Jim Cramer. Earlier in the day, the banking organization confirmed that it’s acquiring Diem Association’s IP,...

Minnesota Representative, a longstanding crypto supporter, might become the first U.S. Congressman to take his salary in Bitcoin. Rep Emmer to Be Paid in BTC? In a recent podcast interview with popular BTC bull Anthony Pompliano, Rep. Tom Emmer (R-MN) noted that he would take a portion of his salary in Bitcoin. The host asked Rep. Emmer whether he would use a service that converts some of his earnings into the primary cryptocurrency. “Why not?” the Congressman said. “I think...

Experts at the Portland division of the Federal Bureau of Investigation (FBI) are telling people what they can do to avoid cryptocurrency scams, which have seemingly become much more prominent and aggressive over the past few years. The FBI Says Crypto Scams Are On the Rise It seems like crypto-based crime has become a serious issue given that the prices of many leading digital currencies such as bitcoin have surged in recent years. Just two months ago, the world’s...

Alexis Ohanian – co-founder of Reddit – recently raised $500 million for his venture capital firm 776 Management LLC. He said that the new funds will primarily be used to “double down” on investment in crypto startups. More Money Towards Crypto As reported by Wall Street Journal, Ohanian showed confidence in the growing entrepreneurial and software activity in crypto. As such, the company has 40% of its current funds in the sector, while the remainder goes towards others like...

History shows that January tends to be a rather negative month for bitcoin in terms of price performance. The 2022 edition didn’t go well either, as it became the third-worst January in the past decade with a near 17% decline. January 2022 Ended With Substantial Retracement Ever since the middle of November, when the entire crypto landscape seemed highly bullish riding the waves of the first-ever Bitcoin futures ETF launching in the US, the market has been in a knockdown...

A large chunk of the bitcoins stolen from the infamous 2016 Bitfinex hack was moved by the hackers to an unknown wallet earlier today. Bitfinex 2016 Hacked Funds on the Move According to data from the live cryptocurrency transactions monitor Whale Alert, the hackers have moved over 64,000 BTC in 21 separate transactions. The first transfer was of 1 BTC, worth $38,750 at the time, perhaps as a test transaction. The hackers then made subsequent transfers of varying amounts. The...

After successfully retesting the $1 key support, Cardano (ADA) appears to prepare a possible breakout from its current price range, if the recent crypto bullish sentiment continues. Key Support levels: $1, $0.92 Key Resistance levels: $1.1, $1.2 ADA’s price has been consolidating between the critical support ($1) and resistance ($1.1) for over a week. The recent price action and technical indicators give hints of a possible breakout off this range. ADA rarely stays for too...