Tag Archives: News

AI has overtaken crypto in Google searches for the first time since 2020. This is credited to the rise of generative AIs like ChatGPT and the crypto winter. As 2023 is rolling to a close, the industry as a whole is looking back on the year and taking stock of how it performed. One way we’ve done this in the past is by looking at Google search trends. As the biggest search engine on the planet, Google gives us insight into what was popular in a given year. This year, it seems that...

In 2023, the Bitcoin hashrate has surged by a staggering 130% which shows growing competition and reduced profitability for miners. The computing power of the Bitcoin network, also known as the mining hashrate, hit a record high on Christmas Day, adding to the challenges faced by miners in the wake of declining profitability. Blockchain.com reported that on December 25, Bitcoin’s hash rate achieved an unprecedented level of 544 exahashes per second (EH/s), a data point corroborated by...

ADA price is attempting a fresh increase above the $0.600 zone against the US Dollar. The price is now trading above $0.600 and the 55 simple moving average (4 hours). There is a key contracting triangle forming with support near $0.5980 on the 4-hour chart (data feed via Coinbase). The price could gain bullish momentum if it clears the $0.6200 and $0.6350 levels. Cardano price is holding the $0.600 support against the US Dollar, like Bitcoin. ADA price could gain...

Ethereum price started a downside correction from the $2,350 resistance against the US Dollar. ETH price is now trading above $2,260 and the 55 simple moving average (4 hours). There is a key contracting triangle forming with support at $2,260 on the 4-hour chart (data feed from Coinbase). The pair could start a fresh increase if it clears the $2,300 resistance zone. Ethereum price is declining below $2,300 against the US Dollar. ETH/USD remains at a risk of more...

Stellar lumen price is rising toward the $0.132 resistance zone against the US Dollar. XLM price is now trading above $0.120 and the 55 simple moving average (4 hours). There is a key bullish trend line forming with support near $0.1250 on the 4-hour chart (data feed via Kraken). The pair could extend its increase if it clears the $0.1280 and $0.1320 resistance levels. Stellar lumen price is trading above $0.1250 against the US Dollar, like bitcoin. XLM price must...

XRP price started a fresh decline from the $0.630 resistance against the US dollar. The price is now trading below $0.622 and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $0.620 on the 4-hour chart of the XRP/USD pair (data source from Bittrex). The pair could extend losses if it breaks the $0.598 support zone. XRP price is struggling below $0.620 against the US Dollar, unlike Bitcoin. The price could...

The timing aligns perfectly in 2024 for a spot ETF approval to have already attracted significant investment, and then the halving decreases Bitcoin’s supply right when demand shoots higher. After yet another banner year in 2023 with over 150% gains, all eyes are on Bitcoin (BTC) to see if the flagship cryptocurrency can sustain its epic run in 2024. Key factors stacking up in Bitcoin’s favor for the coming year have analysts extremely bullish on its prospects. From the possibility of the...

Gensler disclosed that the SEC is actively reviewing rules that could potentially hurt the crypto industry. In a recent interview with CoinDesk, Gary Gensler, chairman of the United States Securities and Exchange Commission (SEC), voiced his concerns regarding the crypto industry, noting that the space is rife with fraud and bankruptcies. The SEC chair said while he respects investors’ decision to explore the crypto market, he does not believe they receive adequate disclosures regarding...

According to analysts at Bitfinex, crypto is undoubtedly gaining more traction globally. Moreover, considering the current state of the crypto market, especially with asset prices, it appears that even more global acceptance is on the way for crypto. Bitfinex analysts have made a bold prediction about the number of users that we might expect to see in the crypto industry come 2024. Their prediction, which was detailed in a recent report suggests that the number of crypto users may be...

Regarding custody arrangements, the SFC emphasizes that the fund’s trustee or custodian can delegate its crypto custody function solely to an SFC-licensed VATP or entities meeting the crypto custody standards set forth by the HKMA. Hong Kong has announced its readiness to receive applications from traditional financial companies interested in exploring the emerging economy by creating exchange-traded funds (ETFs) tracking spot-based cryptocurrencies. The country already allows...