Earlier in May, the market capitalization of Pepecoin (PEPE) — a cryptocurrency inspired by the popular internet meme Pepe the Frog — had soared to $1.8 billion. Two weeks later, the PEPE market cap has come crashing down to roughly $665 million, a 65% decline. Let’s look at the reasons why. Pepe mania winners dump PEPE whales appear
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Cryptocurrency and Bitcoin (BTC) ATM provider, Bitcoin of America, consented with the Connecticut Department of Banking to halt its operations due to a lack of licensing. In a statement released on May 22, the Department of Banking highlighted that Bitcoin of America failed to obtain a proper license to operate Bitcoin ATM kiosks in the
An obscure footnote in a Ripple opposition brief from 2022 could play a role in the ongoing battle between the United States Securities and Exchange Commission (SEC) and Ripple, according to pro-XRP lawyer John Deaton. Deaton took to Twitter on May 22, explaining that a short footnote in a Ripple legal document that he had just
Institutional investor sentiment over digital assets took another beating last week, with “poor sentiment” around Bitcoin (BTC) leading to yet another week of outflows of digital asset investment products. According to CoinShares’ latest edition of its “Digital Asset Fund Flows Report,” published on May 22, outflows for crypto funds totaled $32 million between May 15
Bitcoin (BTC) price has consolidated within a tight range as hodlers remain hardened and new liquidity is not arriving. While Bitcoin is typically a highly volatile asset, weekly consolidation around a slight 3.4% price range has many analysts feeling that BTC price is stuck. Others are anticipating an uptick in volatility. While the lack of
Bitcoin’s price has stabilized near $27,000 since May 13, displaying reduced volatility in the period. This movement is eerily similar to early April, when Bitcoin’s (BTC) 12-hour chart ranged between $27,800 and $28,700 for 11 days. Traders are now questioning whether a bullish breakout is the next possible outcome for the Bitcoin price. According to technical analysis,
Bitcoin stayed motionless after the May 22 Wall Street open amid suggestions that United States interest rates may keep rising. Bitcoin analyst eyes “capitulation by time” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling the range immediately below $27,000. Despite some brief volatility for stocks, Bitcoin (BTC) remained firmly trapped in a range that it
Bitcoin has been trading in a narrow range for the past few days. Generally, tight ranges are followed by a range expansion, resulting in strong trending moves. Market intelligence firm Glassnode tweeted on May 22 that Bitcoin’s (BTC) seven-day price range is “comparable to Jan 2023 and July 2020, both of which preceded large market moves.” It
On May 22, The Open Network (TON), a layer-1 blockchain previously created by Telegram, announced the launch of a $25 million fund for projects building on its ecosystem. The venture, dubbed “TON Accelerator Program,” will invest between $50,000 and $250,000 per project and be accompanied by partnerships and mentorships from TON’s staff. Justin Hyun, head
There are key events in the fascinating world of cryptocurrencies that have shaped the trajectory of adoption. One such occasion is commemorated annually as Bitcoin Pizza Day: a commemoration of a seemingly unremarkable transaction that had a profound effect on the development of Bitcoin (BTC). So, on Bitcoin Pizza Day, let’s indulge in a cheesy
Thirteen years after the world’s first Bitcoin (BTC) pizza purchase, the pioneer cryptocurrency network faces a new wave of disruption thanks to the advent of Ordinals, the recently launched protocol that allows adding digital content such as art — i.e. nonfungible tokens — in the Bitcoin blockchain. Since the launch of Ordinal NFTs on the
Bitcoin (BTC) continues with its sideways BTC price action under $27,000 on May 22 as the bulls and bears find it hard to break the stalemate. Which way Bitcoin? Notably, BTC price has fluctuated inside a narrowing ascending triangle range since May 11, defined by a horizontal resistance around $27,500 and a rising trendline support
On May 22, GameFi project Gala Games announced that it has partnered with Las Vegas poker streaming platform PokerGO to launch a new Web3 social poker game. Dubbed PokerGO Play, users will have the ability to enhance and upgrade their players in addition to redeeming real-world prizes. PokerGO is scheduled for beta testing in June,
Illuvium CEO Kieran Warwick has once again been in the thick of a controversy, this time taking aim at applicants seeking to join Illuvium DAO’s marketing sub-council. Warwick, who is not coincidentally also the game studio’s chief marketing officer, took to Twitter on May 9 to say that the DAO faced a “significant challenge,” with
It’s been 13 years since programmer Laszlo Hanyecz made the first commercial transaction with Bitcoin (BTC) on May 22, 2010, buying two supreme pizzas from Papa John’s for a whopping 10,000 BTC, or $266 million at current prices. That day is known and celebrated as Bitcoin Pizza Day. To commemorate the occasion, Cointelegraph sought to
Members of the crypto community celebrated the anniversary of Bitcoin Pizza Day; the first notable exchange of Bitcoin (BTC) into physical goods. On May 22, 2010, Laszlo Hanyecz made the first documented purchase of a good with BTC. The exchange involved 10,000 BTC — worth $41 at the time — and two pizzas from a
Macro Markets, hosted by crypto analyst Marcel Pechman, airs every Friday on the Cointelegraph Markets & Research YouTube channel and explains complex concepts in layperson’s terms, focusing on the cause and effect of traditional financial events on day-to-day crypto activity. The latest Macro Markets show discusses the impact of the United States debt crisis as
Troubled cryptocurrency exchange Gemini is considering a forbearance option against the Digital Currency Group (DCG), which missed a $630 million repayment last week. When a lender grants forbearance, the borrower can temporarily reduce its mortgage payment or temporarily stop making payments. The borrower must subsequently pay the reduced or paused payments. In its updated response,
Bitcoin (BTC) starts a new week in a price range that frustrates traders and leaves little to the imagination — what next? After precious little activity over the weekend, the largest cryptocurrency lacks direction, and even macroeconomic triggers have failed to shift the status quo. At around 10% below the $30,000 mark, BTC/USD is treading
Ethereum co-founder Vitalik Buterin has published a lengthy blog post warning of the dangers of “stretching” Ethereum’s consensus past its core functions of validating blocks and securing the network. Ethereum consensus is the process whereby blocks are validated by the proof-of-stake mechanism implemented in September 2022 with “the Merge.” In a May 21 blog post