After gaining 11% between March 16 and March 18, the total crypto market capitalization has been battling resistance at the $1.2 trillion level. This same level was reached on August 14, 2022 and was followed by a 19.7% decline to $960 billion over the next two weeks. During the lateralization period between March 20 and
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On March 27, European cryptocurrency investment firm CoinShares published its “Digital Asset Fund Flows Report,” which revealed that digital assets continue to attract investors’ attention as concerns over the stability of traditional finance (TradFi) continues to grow. According to the latest report, investment products in digital assets experienced inflows of $160 million last week, the largest
The world’s largest crypto exchange by trade volume, Binance Holdings Ltd., has been sued by the U.S. Commodity Futures Trading Commission. Binance CEO Changpeng Zhao has been named in the lawsuit and the charges claim the crypto exchange broke several trading and derivatives rules. The lawsuit also names Binance’s former chief compliance officer, Samuel Lim,
XRP (XRP) price is currently outperforming all other major cryptocurrencies as of March 27, rising over 20% in the past seven days. XRP accumulation ahead of SEC vs. Ripple ruling XRP has seen steady gains over the past seven days as the ongoing legal quandary between Ripple and the U.S. Securities and Exchange Commission (SEC) is
The United States Commodity Futures Trading Commission has filed suit against Binance and CEO Changpeng “CZ” Zhao for trading violations, according to a Bloomberg report. The suit was filed in the U.S. District Court for the Northern District of Illinois. According to the CFTC, Binance failed to meet its regulatory obligations by not properly registering
Xrp moved back towards a five-month high on Monday, as prices surged for a third straight session. The token formerly known as ripple was one of the very few gainers to start the week, as markets mostly consolidated. Polygon edged closer to a multi-week low to start the week. XRP, formerly ripple, rose for a
Polygon has released its open-source zkEVM Ethereum scaling technology to the mainnet, promising reduced transaction costs and increased throughput of smart contract deployments. Polygon’s zkEVM is a zero-knowledge rollup (ZK-rollups) scaling solution equivalent to the Ethereum Virtual Machine. ZK-rollups increase throughput on Ethereum’s blockchain by batching computations and state storage to layer-2 platforms. The technology
Where gaming and finance meet in Web3 has been termed GameFi, and it has been growing by leaps and bounds over the past few years. There are even several data analytical resources to try and figure out what are the hottest blockchain and Web3 games currently available. Cointelegraph Research dove into this topic head on
Microstrategy has purchased 6,455 bitcoins for approximately $150 million at an average price of $23,238 per coin. With its latest purchase, Microstrategy now holds 138,955 bitcoins acquired at an average of $29,817 per coin. Moreover, the company also paid off its loan from troubled Silvergate Bank in full. Microstrategy Buys More Bitcoin Nasdaq-listed Microstrategy Inc.
On Sunday, March 19, the 167-year history of banking giant Credit Suisse ended with a takeover by the largest Swiss bank, UBS. Under pressure from the Swiss government, UBS took over its ailing competitor for 3 billion Swiss francs ($3.25 billion) — less than half the $8 billion market value of Credit Suisse just two
Cryptocurrencies are a rapidly growing market that is changing how people invest, buy and sell goods and services, and transfer money. However, with the growth of this market comes an increasing need for legal and regulatory compliance, particularly concerning issues such as money laundering, fraud and data protection. As a result, there is a demand
MicroStrategy, a business intelligence firm and a major Bitcoin (BTC) investor, is acquiring more BTC amid the recent cryptocurrency market recovery. MicroStrategy co-founder and former CEO Michael Saylor took to Twitter on March 27 to announce that the firm has repaid its $205 million loan to Silvergate. Citing a form 8-K filing with the United
Bitcoin started the week trading around the $28,000 mark, as markets reacted to the news that Silicon Valley Bank was to be acquired. First Citizen Bank agreed to buy approximately $72 billion in SVB assets, at a discounted rate of $16.5 billion. Ethereum continued to trade under $1,800 on Monday. Bitcoin Bitcoin (BTC) started the
Despite being touted as the possible panacea, decentralized finance (defi) still faces obstacles which greatly diminish the prospects of mainstream adoption, asserts serial entrepreneur and CEO of Radix DLT, Piers Ridyard. Ridyard added that while defi is seen as “a fantastic proof of concept,” widespread adoption of this alternative to traditional finance is only possible
Jan Nieuwenhuijs, a gold market analyst, has predicted that gold might exceed prices of $8,000 during the next decade, as the current Ukraine-Russia war, and the worldwide battle against inflation, shift the preference of central banks for foreign currencies to gold. The proposed long-term price model shows that each troy ounce of the metal might
Cryptocurrency exchange Binance continues expanding its global reach by setting up a new blockchain hub in crypto-friendly Georgia. Binance announced on March 26 the opening of its brand-new blockchain hub in Georgia, aiming to promote further adoption of crypto in the country. Referring to the hub as a “Web3 outpost,” Binance intends to attract talent to the
Bitcoin (BTC) enters the last week of March in uncertain territory as a strong weekly close still keeps $30,000 out of reach. The largest cryptocurrency has sealed seven days of practically flat performance despite some volatility in between as the market seeks fresh direction. Where could it go next? In what was a week of
Following Terraform Labs’ founder Do Kwon’s arrest in Montenegro while trying to fly off-shore using fake documents, South Korean authorities have turned up efforts to track down and arrest the other co-founder of the company, Shin Hyun-Seong, also known as Daniel Shin. Since November 2022, South Korean authorities have suspected the involvement of numerous Terra colleagues
The number of irretrievably lost bitcoins has now reached 6 million, which leaves 13.3 million as coins that remain in circulation, Timothy Peterson of Cane Island Alternative Advisors has said. Peterson added that out of the 1.7 million bitcoins that will be mined in the next 100 years or more, one million coins will be
Crypto firms setting up in Hong Kong ahead of a new licensing regime for crypto exchanges in June have reportedly found some unexpected allies in the region — Chinese state-owned banks. According to a March 27 report from Bloomberg, Chinese banks including Shanghai Pudong Development Bank, the Bank of Communications Co., and Bank of China Ltd. have