Bitcoin (BTC) price action may be “unsustainably high,” as one metric hits its highest levels in seven months. Data from on-chain analytics firm Glassnode confirms that on Dec. 21, Bitcoin’s network value to transaction (NVT) signal reached levels not seen since April. Bitcoin activity may not support $17,000 BTC price Created by statistician Willy Woo,
Bitcoin News
Cryptocurrency exchange Binance is behind an initiative to qualify university students in Kazakhstan to work in the industry. Under an agreement with the government, the blockchain course will be added to the curricula of higher education institutions across the country. Binance Exchange to Help Teach Blockchain at Kazakhstan’s Universities The world’s largest crypto exchange, Binance,
The California Department of Financial Protection and Innovation (DFPI) has ordered crypto lending platform MyConstant to cease offering a number of its crypto-related products over alleged state securities law violations. The DFPI stated in a press release on Dec. 21 that it has ordered MyConstant to “desist and refrain” from offering its peer-to-peer loan brokering
Coinbase has announced it has secured regulatory approval as a virtual asset service provider (VASP) in Ireland, according to a company blog post published on Dec. 21. According to the company, Coinbase has been approved by Ireland’s central bank which means the company can “provide products and services to individuals and institutions in Europe and
Bitcoin (BTC) price lost 11.3% between Dec. 14 and Dec. 18 after briefly testing the $18,300 resistance. The move followed a seven-day correction of 8% in the S&P 500 futures after United States Federal Reserve Chair Jerome Powell issued hawkish statements after raising the interest rate on Dec. 14. Bitcoin price retreats to channel support
Ethereum classic rallied for a second straight session on Wednesday, following better-than-expected U.S. consumer confidence data. The figures showed that confidence among American consumers rose to the highest level in eight months, with a reading of 108.3. Monero was also higher on the news, as it extended recent gains. Ethereum Classic (ETC) Ethereum classic (ETC)
Bitcoin (BTC) divided traders yet again on Dec. 21 as sideways BTC price action split opinion on the future. $17,500 becomes popular BTC price target Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it acted within a tight range just below $17,000. A single brief spike above the $17,000 mark failed to last,
The alleged operator of crypto exchange BTC-e, Alexander Vinnik, has asked to be released on bail due to the delay in court proceedings. In early August, the Russian IT specialist was extradited to the United States to face charges of money laundering through the now-defunct coin trading platform. Vinnik’s Defense Appeals for His Release on
According to a Dec. 20 filing with the United States Securities and Exchange Commission, Bitcoin (BTC) miner Greenidge has reached an agreement with its creditor, fintech firm NYDIG, to restructure approximately $74 million worth of debt. The deal, in the form of a non-binding term sheet, would result in a major change to Greenidge’s current business
The Central Bank of Russia plans to use cryptocurrency for cross-border payments in trials with private companies, a member of its top management has revealed. The testing will be conducted under a special legal regime that’s currently under development. Russia’s Central Bank to Explore Crypto Settlements Amid Financial Sanctions The Central Bank of the Russian
It’s been a tough year for crypto, and venture capital activity confirms it. The collapse of FTX in November was the latest and most shocking in a series of closures of key market players this year — including Celsius, Voyager and BlockFi — that have shaken investor sentiment and wiped out $1.5 trillion in market
The Japanese yen is up 3.42% against the U.S. dollar on Tuesday as the Bank of Japan surprised the world by deciding to allow the benchmark interest rate to rise to 0.5% from 0.25%. The Japanese central bank was one of the only banks worldwide to hold off on raising benchmark interest rates, as policymakers
The Lightning Network strikes again. In a small yet significant development for Bitcoin (BTC), a new type of BTC address has been introduced: the “Lightning Address.” These unique identifiers are specifically designed for use on the Lightning Network, a layer-2 payment protocol that operates on top of the Bitcoin blockchain. A user-friendly addition to ways in which
John Carmack, the founder of renowned company ID Software and executive consultant on VR for Meta, has announced he is leaving Meta. Among the reasons for this departure, Carmack signals that there are inefficiencies and self-sabotage at Meta that have affected the work that the company is doing regarding its VR (virtual reality) and metaverse
Five wallets tied to the defunct Canadian cryptocurrency exchange QuadrigaCX previously thought to be inaccessible have just been spotted moving around $1.7 million worth of Bitcoin after years of dormancy. Crypto researcher ZachXBT alerted the crypto community in a tweet on Dec. 19, highlighting the five wallets that transferred around 104 Bitcoin (BTC) on Dec.
On Dec. 17, reports detail that residents in Lebanon have been staging sit-ins and protests at banks in order to access their own savings accounts. Since the economic collapse in 2019, Lebanon’s banks froze Lebanese bank accounts, and a number of branches have remained closed indefinitely. The deprivation of wealth has caused a few impoverished
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