Bitcoin (BTC) fell below $40,000 on May 19 as bearish sentiment continued to dictate price direction resulting in the cryptocurrency market losing $350 billion in value. Analysts calm as BTC/USD hits 15-week lows Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it put in lows of $38,500 before bouncing higher. Coming after a week
Today, we’re excited to announce our partnership with the National Bank of Egypt (NBE), the North African country’s largest bank. Through Ripple’s global payments network RippleNet, NBE has connected with the UAE-based financial service provider LuLu International Exchange – part of the LuLu Financial Group – to process cross-border payments from the United Arab Emirates
On May 18, Bitcoin (BTC) and the overall cryptocurrency market faced another round of selling as fear, uncertainty and doubt (FUD) impacted investor sentiment after Reuters and various social media outlets reported that China would ban financial institutions and payment companies from providing services related to cryptocurrency transactions. According to these reports, China also issued
Decentralized finance (DeFi) has emerged as a transformational force for not just the cryptocurrency market, but for financial markets in general in 2021 thanks to the ease of access and security offered by blockchain-based protocols which operate on smart contracts. One project that is looking to take the simplicity of DeFi to the next level
Minnesota Rep. Tom Emmer has reintroduced a bill aimed at preventing the IRS from imposing penalties or fees on crypto taxpayers with forked assets. In an announcement from Emmer on Monday, the congressperson from Minnesota said he had once again introduced the Safe Harbor for Taxpayers with Forked Assets bill in the United States House
As Bitcoin (BTC) tested the $43,000 support for the third consecutive day, whales bought the dip on derivatives exchanges. While there has been no significant price change, the Bitcoin futures premium reached its lowest level in six months. This indicator matches Dec. 11, 2020, when Bitcoin hit a $17,600 low just 10 days after making
A luxury yacht firm has announced it will begin accepting cryptocurrency for its services and expects to see an immediate 40% growth increase from Bitcoin (BTC) payments in the first year. In addition to accepting Bitcoin payments, the firm also announced that it would base its web and mobile services on blockchain technology as it
Bitcoin (BTC) could drop to $29,000 and still be testing current support in line with past dips, claims CNBC’s “Chartmaster.” In an appearance on the network’s “Fast Money” segment on May 17, Carter Worth, Chief Market Technician at Cornerstone Macro, warned that the BTC bottom may be far from in. Pick your average for a
The crypto sector is in a bull market, and frequent evidence comes from anonymous traders who post their five-, six- and seven-figure investment returns as screenshots on Crypto Twitter. This condition creates a FOMO-like situation where everyone gets greedy. The temptation to boost potential earnings by twenty times or more is often irresistible for most
Ethereum co-founder Vitalik Buterin has burned nearly half of the supply of the popular Dogecoin clone, Shiba Inu (SHIB). In a statement embedded into the transaction on May 16, Vitalik Buterin explained why he decided to burn $6.7 billion worth of SHIB tokens, emphasizing the “generosity” of the “dog token communities.” “I’ve actually been impressed
The United States is the country most interested in Ether (ETH), followed by Germany and Turkey, an analysis of search data has revealed. A report by Invezz.com, as reported by Finbold, showed 1,116,000 searches per month for the term ‘Ether’ emanating from the United States. Excluding searches by budding chemists, that’s the equivalent of around
Cryptocurrency adoption on a United Kingdom-based payment app is booming in the first quarter of 2021, but whether that trend continues could depend on the actions of Bitcoin (BTC) evangelists like Elon Musk, warns STICPAY director James Bay. The mobile payments app reported a 48% increase in crypto deposits in the first quarter of the
While Bitcoin tumbles in response to Elon Musk’s Twitter account yet again, altcoin dominance has surged to its highest level in roughly three years. As of this writing, Bitcoin represents 40.3% of the combined crypto asset capitalization — the lowest it has been since June 2018, according to CoinMarketCap. Bitcoin hit a market dominance low
Iranian Cyber Police have reportedly arrested Bridge Oracle CEO Sina Estavi, according to a tweet pinned to Estavi’s Twitter account. A rough translation of the tweet reads: “The owner of this account was arrested on charges of disrupting the economic system by order of Special Court for Economic Crimes. Official judicial authorities will provide additional
The United States Federal Deposit Insurance Corporation is looking for information and public comments on banks’ cryptocurrency-related activities. The FDIC is the major provider of deposit insurance to U.S. commercial and savings banks, originally created to address bank runs during the Great Depression. On Monday, the FDIC officially announced a request for public input to get
The Spanish financial regulator is easing the entity’s tough stance towards cryptocurrencies by announcing an unprecedented measure that green lights institutional investors to enter into such business decisions. The National Securities Market Commission (CNMV) unveiled guidelines that approve institutional crypto investment under certain conditions. Fund Managers Should Specify ‘High Risks’ of Cryptos in Marketing Resources