U.S. Treasury bonds or Treasurys are essential in all tradeable markets, including Bitcoin and Ether. The cost of capital attributed to U.S. dollars affects every loan, mortgage, and even cryptocurrency derivatives. In the worst-case scenario of the U.S. government defaulting on its debt, the lack of interest debt payments may cause a global shortage of
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After experiencing a significant downtrend and period of correction, Ethereum’s price found support at the $1.6K level, coinciding with the 200-day moving average. The buying pressure at this level triggered a rapid reversal and an upward trend towards the critical resistance zone at $2K. Additionally, the price surpassed the 100-day moving average at $1.8K, indicating
The National Tax Agency in Japan has announced the revision of corporate tax rules for cryptocurrency issuers. The new rules exempt crypto token issuers from paying corporate tax on unrealized gains for their holdings. This move has been welcomed as a step towards easing the business environment for crypto firms in Japan. According to a
The cryptocurrency market is seeing a surge in prices with Bitcoin holding steady at around $30k. Many altcoins are pumping, both old and new, including Bitcoin Cash, Bitcoin SV, and Waves, as well as meme coins like Pepe and newly listed Uniswap coins. The market sentiment is high, and several trending cryptocurrency assets are up
Bitcoin Cash (BCH) has seen an incredible increase of 100% in just one week, leading to speculation about the reasons behind this remarkable upward movement. Despite this significant price increase, BCH faces challenges in breaking above the $220 level, which could potentially trigger a bearish correction. At present, the current price of BCH stands at
Mitsubishi UFJ Financial Group (MUFG), the largest financial institution in Japan, is reportedly considering issuing global stablecoins via its blockchain platform, Progmat. MUFG has already shown interest in introducing such tokens tied to the value of the Japanese yen. However, the company is now in talks with industry leaders and other companies on minting stablecoins
TrustToken temporarily suspended mints and redemptions of its TrueUSD (TUSD) stablecoin through its banking partner, Prime Trust, earlier this month. This was due to Prime Trust’s cease-and-desist order from the Financial Institutions Division of the Nevada Department of Business and Industry. However, TrustToken clarified that this does not affect its operations concerning the conversion of
The crypto market has experienced a positive macro event, resulting in a scaled-back market valuation of $1.19 trillion. Bitcoin is leading this major uptrend, making a strong comeback to the $30,000 price tag. However, it is not the only major beneficiary of this bullish sentiment. Ethereum Classic, a popular proof-of-work (PoW) protocol, has also experienced
Patrick Hughes, known as the King of Reverspective, is set to launch a new collection of NFTs on ElmonX. The collection includes two one-of-a-kind pieces, Rubik’s Cube and Die. The launch will take place on Sunday, 25th June at 9AM PT. Background Patrick Hughes held his first solo show in 1961 at the Portal Gallery
Over the past 24 hours, Bitcoin’s price attempted to reach $31K and maintained its dominance over the rest of the market. However, the bulls were unable to sustain the price above $31K, and sellers pushed it below this level to where it currently trades at around $31,600. It’s worth noting that Bitcoin’s dominance, which tracks
Senator Cynthia Lummis of Wyoming has criticized the US Securities and Exchange Commission’s (SEC) recent action against Coinbase, stating that it “is not the right way to do business in America.” She made the statement during an interview with Yahoo Finance on June 22. Lummis said the cryptocurrency exchange had demonstrated its willingness to cooperate
Optimism (OP) has been experiencing an impressive recovery, having surged 27% in the past week after hitting a new YTD low of $0.895 on June 10. As of now, OP is trading at $1.411, indicating a 4.06% increase today. The cryptocurrency is currently attempting to surpass the reverse Fib 0.5 level at $1.386, which coincides
Etherscan, an Ethereum block explorer and analytics platform, has launched Code Reader, a tool that uses artificial intelligence (AI) to retrieve and interpret the source code of a specific contract address. The tool generates a response via OpenAI’s large language model, providing insight into the contract’s source code files. Code Reader’s use cases include gaining
Belgium’s Financial Services and Markets Authority (FSMA) has ordered the global cryptocurrency exchange and blockchain platform, Binance, to immediately halt all cryptocurrency services offered in the country. The FSMA issued a statement on June 23, citing concerns over Binance’s exchange services between virtual and legal currencies and custody wallet services, which were found to originate
The crypto market has seen a flurry of activity in recent days, with various coins and tokens experiencing double-digit returns. However, Ethereum (ETH) and Solana (SOL) have experienced a slowdown in their growth, leading investors to question whether their recent momentum was only temporary. At the time of writing, ETH is hovering around the $1,870
Pepecoin, a frog-themed ERC-20 token on Ethereum, has emerged as a potential challenger to Dogecoin’s dominance in the memecoin sector. The token gained popularity in May 2023, leading the memecoin hype on Ethereum. Although the chart resembles the standard crypto pump-and-dump scheme, Pepecoin’s recent price action suggests that it could be the newest contender to
Shiba Inu, the Dogecoin-killer, experienced a surge on Thursday following the announcement of a new upgrade in the ecosystem. One of the lead developers revealed that Shibarium would soon enable users to link non-fungible tokens (NFTs) to real-world assets. This will provide proof of ownership and authentication for physical items. Shibarium is a layer 2
Binance.US, a cryptocurrency exchange, has announced that it has resolved almost all delayed U.S. dollar withdrawals. The company has also warned customers that USD withdrawals may soon be removed due to its banking partners discontinuing the service. Resolution Binance.US has been working with its banking partners to restore USD withdrawals but has suggested that this
Wimbledon, the oldest tennis tournament, will be offering artificial intelligence (AI)-based audio commentary and player analysis for fans during the upcoming competition. The initiative is the result of a collaboration between The All England Lawn Tennis Club and International Business Machines (IBM). The AI-powered audio commentary tool will allow fans to observe key moments of
Binance, a cryptocurrency exchange, has disputed claims from the Securities and Exchange Commission (SEC) that the company mismanaged user assets. In response, Binance’s U.S. subsidiary has filed a motion stating that the SEC’s claims are misleading and have the potential to harm its customers. Contradictory Statements from the Regulator Binance’s U.S. subsidiary has highlighted contradictory
Binance, the cryptocurrency exchange already facing regulatory scrutiny in various jurisdictions worldwide, is now being subjected to increased legal pressure in Brazil. Brazilian lawmaker Alfredo Gaspar has formally requested that the National Congress compel Guilherme Haddad Nazar, General Manager of Binance Brazil, to appear for questioning. Gaspar’s formal request, which was addressed to the Parliamentary
Since its inception, Ethereum has been the leading smart contract and decentralized application (DApp) network. An analysis of Ether’s price (ETH) and market capitalization shows that the blockchain has been gaining market share. In recent years, Ether’s dominance in market capitalization has grown from an 18% average in July 2021 to the current 20%. Excluding
OPNX, a cryptocurrency exchange, has recently announced a partnership with 3AC Ventures. The announcement of the partnership was met with criticism from the crypto community. The purpose of the partnership is to expand the OPNX ecosystem. However, no further details were given about the expansion plans. Partnership Details The co-founders of OPNX are Kyle Davies
Binance, the controversial crypto exchange, has announced the launch of a regulated digital asset platform in Kazakhstan. The exchange has secured licensing from Kazakhstan’s AIFC Financial Services Authority (AFSA) to manage the platform and provide custodial services at the Astana International Finance Center (AIFC) from October 2022. The new platform will offer Kazakhstani users exchange
Recently, the AIDOGE token of ArbDoge AI has experienced a 5% increase in price after hitting a low point. The question now arises whether the price of AIDOGE will continue to rise or will it drop again. A closer look at the technical front reveals that the AIDOGE/USDT pair is slightly bullish, facing immediate resistance
During a hearing on June 21, Congresswoman Maxine Waters asked whether stablecoin issuers should be licensed and regulated by the Federal Reserve. In response, U.S. Federal Reserve Chair Jerome Powell stated that the regulator views payment stablecoins as a “form of money” and believes central banks should supervise them. Stablecoins as a New Form of
Mihailo Bjelic, co-founder of Polygon, has proposed upgrading the Polygon proof-of-stake (PoS) network to a “zkEVM validium” version. The upgrade is aimed at increasing security by relying on zero-knowledge proofs. Polygon PoS is an Ethereum scaling solution that has over $900 million in total value locked within its contracts. It does over 2 million transactions