Bitcoin Backpedals To $16,000 Level As Crypto Market Sheds $50 Billion

Jan 7, 2023

In the past 24 hours, Bitcoin has slid beneath the important support level of $17,000 as weekly bears have taken the driver’s seat.  The most popular cryptocurrency is presently selling at $16,723, a decrease of 2.5% over the past week. There has been significant selling pressure on the cryptocurrency market as a whole, resulting in a 6% correction and a $50 billion loss over the past 24 hours. As a result of the latest price decline, BTC has let go of all weekly gains and returned to th ...read more

Brazil Could Launch Its Defi-Integrated Digital Real in 2024

Jan 7, 2023

Roberto Campos Neto, president of the Central Bank of Brazil, has stated that the digital real project, the Brazilian central bank digital currency (CBDC) could be launched in 2024. Campos Neto also remarked on the benefits the digital currency system might bring as it is integrated with traditional finance structures and decentralized finance (defi) institutions. Digital Real Might Be Ready in 2024, According to Roberto Campos Neto Brazil is one of the countries that has made significant ...read more

Stablecoin BUSD’s Supply Shrunk by 3.24 Billion in 3 Days, Market Cap Is Down 20% Since Last Month

Jan 7, 2023

While billions of dollars in crypto assets have been withdrawn from Binance, the world’s largest exchange in terms of volume, the stablecoin BUSD has seen its coins in circulation drop considerably during the last three days. While 20% of BUSD’s supply was drained since last month, statistics show that 14.77% of the reduction took place on Dec. 13. BUSD’s Supply Declined by 3.24 Billion Since Dec. 13 Amid the speculation surrounding Binance and the large number of withdrawals (over ...read more

Earn 175% APR Through ApeCoin (APE) Staking on LBank Exchange

Jan 7, 2023

press release PRESS RELEASE. INTERNET CITY, DUBAI, Dec 16, 2022 – LBank Exchange, a global digital asset trading platform, has recently launched ApeCoin (APE) staking in its “Earn” – “Flexible” section, users will be able to earn APE token with an annual return of 175% (floating adjustment), and withdraw anytime without locking. APE Staking Is the New Trend Recently, ApeCoin DAO (ApeDAO) has established an official staking protocol for ApeCoin (APE), which was created as a w ...read more

ADA Price Sheds 5% In The Last 7 Days Even As Trade Volume Soars

Jan 7, 2023

Cardano has been on the downside since ADA reached an all-time-high of $3.10 back in September 2021. As of writing, the 9th top crypto has dropped 5% in the last seven days. In comparison, major cryptocurrencies like Ethereum lost over 4.5%, and Bitcoin shed 2% in the same timeframe. However, CoinMarketCap displays a rise in trade volume from $221,898,095 to $277,239,103, which represents an increase of over 25%. Nonetheless, as the price of ADA continues to decline, this could be the beginning ...read more

Bitcoin, Ethereum Technical Analysis: BTC Below $17,000, as ETH Nears $1,200 Breakout

Jan 7, 2023

Bitcoin fell below $17,000 on Dec. 16, as bearish pressure continued to intensify following yesterday’s disappointing U.S. retail sales figures. Sales in the United States were down by 0.6%, which news came less than 24 hours after the Federal Reserve moved to hike interest rates. Ethereum moved closer to the $1,200 level in today’s session. Bitcoin Bitcoin (BTC) fell below $17,000 in today’s session, as markets continued to react to last month’s retail sales data. As retail sales ...read more

Stablecoins Flow Into Spot Exchanges, Fuel For Christmas Bitcoin Rally?

Jan 7, 2023

On-chain data shows the number of stablecoin transactions going into spot exchanges have risen recently, something that could help fuel a Christmas Bitcoin rally. Stablecoin Deposits To Spot Exchanges Have Shown Increasing Demand Recently As pointed out by an analyst in a CryptoQuant post, there has been an increasing demand on spot exchanges recently. The relevant indicator here is the “stablecoin exchange depositing transactions,” which measures the total number of transfers involv ...read more

Polygon Profitability Tanks As MATIC Nosedives 5.6%

Jan 7, 2023

MATIC has had a rollercoaster of a year. Its price has fluctuated between cycle peaks and cycle lows year-to-date but has seen some good recoveries as well. However, as the week draws to a close, MATIC dove off its $0.9 cliff, and investor profitability has plummeted right along with it. MATIC Loses 5.6% In 24 Hours Over the last 24 hours, the price of MATIC is already down more than 5.6%, according to data from TradingView. The digital asset which had been able to maintain its $0.9 level for th ...read more

Accounting Firm Mazars Stops Proof-of-Reserve Audits for Crypto Firms, Binance Audit Removed From the Web

Jan 6, 2023

The accounting firm Mazars Group has stopped doing proof-of-reserves (POR) audits for cryptocurrency exchanges and the recently published Binance POR has been removed from the web. Mazars was conducting a number of POR audits for crypto exchanges like Binance, Crypto.com, and Kucoin following the FTX collapse last month. Mazars Group Pauses Crypto Company Audits, Binance POR Scrubbed From the Web Reports detailed on Dec. 16, 2022, that the accounting firm Mazars Group has paused doing POR ...read more

Solana Struggles to Remain in the Top 20 as Prior Ties to FTX and Alameda Wounded the Project

Jan 6, 2023

Amid the market chaos within the crypto economy and following the climactic FTX collapse, the crypto asset solana has been one of the hardest hit during the last 30 days. Since FTX’s fallout, the digital currency lost 8.5% over the last month against the U.S. dollar and to date, it’s down 94.9% since the all-time high solana reached on Nov. 6, 2021. Solana’s Prior Relationship With FTX, Alameda Continues to Hurt the Project, Solana-Based Exchange Raydium Exploited for $2 Million Sinc ...read more

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