Markets

Singapore’s lower division of the Supreme Court approved Zipmex’s pre-packaged plan to restructure some of its operations and thus enable customers to receive portions of their deposits. The Thai-based crypto exchange suspended clients’ withdrawals in July last year, citing volatile market conditions. It could not cope with the issues and filed for bankruptcy protection shortly after. Zipmex announced in a recent blog post that the Singapore High Court allowed the creation of...

Bitcoin is on the brink of re-emerging above $30,000 for the first time since June 2022. As excitement abounds, how are indicators looking for the asset both on and off chain?Crypto market intelligence platform Santiment recently analyzed some observable impacts and triggers of Bitcoin’s latest price moves, noting rising social volume and dominance compared to other cryptos.  Bitcoin’s Dominance Returns Per a blog post from Santiment on Thursday, Bitcoin’s Social Volume and...

Bitcoin is making its way out of Binance after the Commodities and Futures Trading Commission (CFTC) sued the exchange earlier this week, on-chain data shows.  Though bearish for the world’s largest crypto exchange, the wave of outflows doesn’t appear to have triggered any significant migration from the decentralized finance (DeFi) ecosystem.  Binance Outflows Surge According to data provided by IntoTheBlock, Binance has experienced a 60% surge in BTC withdrawals over the...

The past seven days made for quite an exciting week in the cryptocurrency field, despite the fact that some of the events weren’t particularly positive. However, the market managed to stabilize and consolidate, gaining around $14 billion in the process. Let’s dive in. On March 27th, the United States Commodities and Futures Trading Commission (CFTC) slapped Binance – the world’s leading cryptocurrency exchange – with a lawsuit. The 74-page complaint also included its CEO,...

Though the Coinbase CEO is very clear in his support for ChatGPT, many other tech leaders blatantly disagree with him. Brian Armstrong, the Chief Executive Officer (CEO) of American publicly traded crypto exchange Coinbase Global Inc (NASDAQ: COIN) has come out to kick against the call to stop the development of ChatGPT, the chatbot developed by OpenAI. Armstrong took to his Twitter page to dissociate himself from the call for the halt as he noted that for advancement to be made, fear must...

The prices of bitcoin and various other forms of crypto have been doing well these past few weeks. Spikes have occurred that have brought assets like bitcoin to new six-month highs, though Morgan Stanley is now saying that a massive stock crash could come along soon that may bring the prices of these digital assets down. Morgan Stanley Thinks Things Will Be Rough for BTC This Month The sentiment for 2023 thus far is that it will be a bullish year. There are several...

Following two years of crackdowns and sanctions, China appears ready to unlock private sector potential via tech IPO developments.  Alibaba Group Holding and JD.com are reportedly involved in developments that could revive the long-dormant tech IPO landscape in China. Both tech giants are setting plans to float initial public offerings in the East Asian nation. These developments, three expected 2023 monumental Chinese debuts, could prop up the country’s flailing tech industry and...

News of the operations halt, failed funding, and job cuts did not sit well with shareholders as Virgin Orbit saw its shares are down 50% after the announcement. Aircraft engineering company Virgin Orbit Holdings Inc (NASDAQ: VORB) has revealed plans to halt operations after failing to secure a funding lifeline as expected. The company’s CEO, Dan Hart, relayed the unfortunate news to employees on Thursday, adding that there would be a massive layoff. Before the move to halt operations,...

Bitcoin cash price started a fresh decline from the $138 zone against the US Dollar. The price is now trading below the $125 zone and the 55 simple moving average (4-hours). There was a break above a key bearish trend line with resistance near $122 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase). The pair could start a decent increase if it stays above the $115 support zone. Bitcoin cash price is declining from the $138 zone against the US Dollar,...

Layer 2 scaling solutions have revolutionized the space with faster and cheaper transactions, as well as increased scalability and improved privacy and security. In a bid to increase its competitiveness against rival blockchain networks, a proposal has been submitted that aims to adopt a lower transaction fee cost on Binance Smart Chain (BSC). BSC Proposal The proposal, submitted on March 28th, highlighted the need for a more adaptive transaction cost distribution on the BSC...