Markets

BitMEX co-founder and macro-market analyst Arthur Hayes is deploying his dry powder into Bitcoin sooner than previously planned, according to his latest blog post.  Hayes argued that despite his fears of a future crypto market retracement, there is still an opportunity to profit now from the ongoing risk asset rally that began last month.  The Rally Isn’t Over Hayes began his post, titled “Be Present”, by alluding to his previous post covering Bitcoin’s celebrated rally in...

A group of South Korean officials reportedly arrived in Serbia last week to look for the infamous Do Kwon. The 31-year-old has been on the run since the collapse of his blockchain protocol Terra. The latter’s native token – LUNA – and algorithmic stablecoin – UST – plunged to essentially zero last year, affecting numerous investors and the entire cryptocurrency market. As covered by Bloomberg, a team of South Korean authorities, along with a senior Justice Ministry official,...

The largest cryptocurrency exchange – Binance – added its name to the list of companies that provided help to Turkish residents affected by the recent devastating earthquake.  It will give away $100 worth of BNB to each of its local users and launched a public donation address where everyone can contribute. Binance vowed to airdrop $100 in BNB to customers situated in Turkey’s most damaged cities from the earthquake, including Gaziantep, Kilis, Kahramanmaraş, Adana, Malatya,...

Ishan Wahi, a former product manager at the largest US-based crypto exchange, pleaded guilty to two counts of conspiracy to commit wire fraud. His brother did the same a few months back, receiving a 10-month prison sentence. CryptoPotato reported in July 2022 when the US Department of Justice charged Ishan Wahi, his brother Nikhil, and a third-party (Sameer Ramani) with insider trading for tokens that were about to be listed on Coinbase. According to the authorities, they...

Ethereum’s uptrend has been halted after reaching the major resistance at $1.7K. The price action seems choppy, while a short-term correction is what many expect. Technical Analysis By Shayan The Daily Chart Ethereum has surpassed the 200-day moving average and the multi-month channel’s upper trendline due to the recent bullish move of the whole market. However, the price declined from the major resistance level of $1.7K and is now consolidating beneath it. On the other hand,...

ADA price is correcting gains from the $0.415 zone against the US Dollar. The price is now trading below $0.40 and the 55 simple moving average (4-hours). There was a break below a key rising channel with support near $0.388 on the 4-hours chart (data feed via Bitfinex). The price could gain resume its increase if it stays above the $0.370 and $0.365 support levels. Cardano price is correcting lower below $0.40 against the US Dollar, similar to bitcoin. ADA price could...

Ethereum price is correcting gains below the $1,650 level against the US Dollar. ETH price is now trading near $1,630 and the 55 simple moving average (4-hours). There is a key contacting triangle forming with support near $1,610 on the 4-hours chart (data feed from Coinbase). The pair could climb further if it stays above the $1,600 support zone. Ethereum price is consolidating above the $1,600 level against the US Dollar. ETH/USD could rise further if it clears the...

Binance – the world’s largest crypto exchange – announced on Monday that it will pause all deposits and withdrawals in USD from bank accounts starting February 8.  The company said it will work to restart the feature as soon as possible.  Why the Suspension? After announcing the suspension over Twitter, Binance offered no particular explanation for why it was taking place. However, it clarified that the pause would only affect a small portion of its user base.  All other...

Should the United States consider making XRP the reserve currency of the world and buy its entire holding from the market?  Well, this speculative idea floated by Jimmy Vallee, Managing Director of Valhill Capital, in 2021 is once again doing rounds after he talked about it in a recent interview.  But Ripple Lab’s CTO David Schwartz says he has not even looked at it closely.  Sounds Like a Scam The latest to rubbish Vallee’s speculative buyback theory is Ripple’s CTO, David...

Leading cryptocurrency exchanges, such as Bybit, BitMEX, and Bitfinex, vowed to support victims of Turkey’s disastrous earthquake with aid packages. Binance is also looking to help the affected people. A massive earthquake with a magnitude of 7.8 struck southern Turkey earlier today (February 6) and killed over 1,500 people. Hundreds of buildings collapsed, meaning the number of victims could rise significantly once emergency services scour the ruins. Numerous governments,...