Markets

Early this week, the crypto market turned green. During the last two days, altcoins have outperformed BTC, and this includes ETH. The latter was able to reclaim the $2K mark. However, is the storm over? Technical Analysis Technical Analysis By Grizzly The Daily Chart Ethereum is near a critical support level that might hold up the price in the daily timeframe. Moreover, by looking at the RSI 30-day indicator, it is evident that prior bullish legs have occurred when the RSI...

The President of the European Central Bank (ECB) – Christine Lagarde – reiterated her negative stance on cryptocurrencies, claiming they are “based on nothing” and should be strictly regulated. Nonetheless, she revealed that one of her sons had distributed some of his wealth into the digital asset market. Diving Into Crypto Despite Mom’s Advice Numerous central bankers have criticized the cryptocurrency sector over the past few years. The French politician and the ECB’s...

The bitcoin price has been going through some tough times in the month of May. The currency has been trading in the high $30,000 range after several market factors – including rumors that the Fed was going to hike rates and growing conflict in eastern Europe between Ukraine and Russia – took the world’s number one digital currency by market cap down nearly 50 percent from its November 2021 high. At that time, BTC was trading at nearly $70,000. The Fed Won’t Hike Rates...

INTERNET CITY, DUBAI, May. 19, 2022 – LBank Exchange, a global digital asset trading platform, will list FidoMeta (FMC) on May 23, 2022. For all users of LBank Exchange, the FMC/USDT trading pair will be officially available for trading at 18:00 (UTC+8) on May 23, 2022. As the world’s first virtual financial institution on metaverse, FidoMeta (FMC) focuses on creating businesses in the world of VR (Virtual Reality), with products and services including Fido Markets, Fido...

Despite the many losses his company has incurred due to bitcoin’s price swings, Michael Saylor of MicroStrategy says he remains a bitcoin fan and he’ll never doubt the asset’s abilities. Michael Saylor Still Trusts Bitcoin At the time of writing, bitcoin – the world’s largest and most popular cryptocurrency by market cap – has dropped to around $39,000 per unit. This may not seem bad on paper, but when one considers the fact that the asset was trading for just shy of...

A new research study conducted by ETHAX – a regulated and licensed crypto firm – suggests many adults are in favor of crypto regulation and aren’t looking to trade any bitcoin without proper protocols in place. ETHAX Sets the Tone for Regulatory Compliance Regulation is something of a two-sided coin (pardon the pun). On one hand, the crypto space has been riddled with crime since it first came about. We all remember the early days of Coincheck and Mt. Gox, which occurred...

The call for reducing Tax Deduction at Source (TDS) on crypto transactions is intensifying among the crypto ecosystem players in India. A TDS of 1% on virtual digital assets has been approved by the Union budget 2022-23. Terming this too high as it can drive traders away from the market and hurt volumes, industry representatives are demanding to bring it down in the range of 0.01% to 0.05%.  Unocoin, CoinDCX CEOs Call for TDS Reduction Sathvik Vishwanath, co-founder and CEO...

The Chairman of the United States Securities and Exchange Commission (SEC) – Gary Gensler – opined the turbulence in the digital asset market has not ceased with Terra’s fiasco. He predicted that a lot more coins will “fail,” which will harm an additional number of investors. The Turmoil is Not Over Yet The cryptocurrency market has significantly declined in the last few weeks. Bitcoin, for one, is down by over 25% in the past 14 days. However, all eyes were on Terra’s native...

Spending cryptocurrencies such as Bitcoin and Ethereum in shops and restaurants is getting easier by the day. More and more merchants grasp the potential of cryptocurrencies and adopt them in one way or another. Several cryptocurrency debit cards have recently popped up to help businesses offer digital assets as a payment method. Just like any other conventional ones, cryptocurrency debit cards allow you to conduct day-to-day transactions using BTC, ETH, XRP, and other...

Tether’s USDT stablecoin is beyond fully backed, according to the latest assurance report provided by accounting firm MHA Cayman. The firm found that Tether’s total assets are worth at least $82,424,821,101, while its total liabilities (including issued stablecoins) amount to $82,262,430,079. The State of Tether’s Reserves The report’s figures match those in Tether’s unaudited Consolidated Reserves Report (CRR) as of March 31st, 2022. This ensures that Tether’s USDT...