Day: January 3, 2022

President Bukele Predicts BTC At $100k With Hope That More Countries Adopt It As Legal Tender

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El Salvador President Nayib Bukele tweeted his forecasts for Bitcoin in the year on New Year’s Day 2022, making some rather bullish predictions. Bukele Make Bullish Predictions On Bitcoin Under Bukele’s presidency, El Salvador became the first government to embrace Bitcoin as legal tender last year as a countermeasure to the country’s rising inflation. Since the country’s legalization, the president has purchased 1,370 BTC for the country’s reserve and spent the unrealized gains in new infrastructure projects like a hospital and a school. In 2022, President Bukele expects two more…

CFTC Fines Crypto Betting Service Polymarket $1.4M for Unregistered Swaps

Polymarket cooperated with the investigation, according the CFTC’s press release, leading to a reduced fine. The company will stop offering markets by Jan. 14, 2022 and commit to making all funds available to users by Jan. 24, according to the order. Polymarket will also cease and desist any further violations of the CEA, though it does not appear the company itself will be shut down. Source

Bitcoin traders expect $60K by month’s end, marking $45K as ‘accumulation’

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The bearish pressures facing the cryptocurrency market at the end of 2021 have continued into the first week of 2022 after the price of Bitcoin (BTC) dropped below $47,000 on Jan. 1 and the asset still faces stiff headwinds on the shorter timeframe charts.  Data from Cointelegraph Markets Pro and TradingView shows that, after climbing above $47,500 to start the new year, the price of BTC fell under pressure in the afternoon on Monday. Currently, the price has dropped to $46,500 where bulls now look to mount a defense. BTC/USDT 4-hour…

Samsung Introduces World’s First Television-Based NFT Platform – Bitcoin News

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The well known electronics giant Samsung, the manufacturer of LCD and LED panels, laptops, mobile phones, memory chips, and televisions, revealed that the firm’s upcoming smart TVs will incorporate non-fungible token (NFT) technology. Samsung Reveals Smart TV With NFT Capabilities One of the largest electronics manufacturers worldwide, Samsung Electronics, has noticed how popular NFTs are today and the company believes there’s something needed to view these digital artworks. The U.S. Samsung Newsroom published a summary of the company’s latest lineup of MICRO LED, Neo QLED, and Lifestyle TVs with “cutting-edge…

Bitcoin Stuck in Range Between $45K Support and $52K Resistance

Bitcoin is off to a slow start as traders ring in the new year. The cryptocurrency is down about 8% over the past week as demand from buyers slowed. The current price around $46,000 is near the bottom of a two-week long price range, which previously led to higher bids for BTC. The relative strength index (RSI) on the daily chart is rising from an oversold level reached on Dec. 10. This suggests selling pressure is starting to wane, especially as downside exhaustion signals appeared on the daily chart for…

Exchange Whale Ratio Suggests Bitcoin Dump Incoming

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On-chain data shows Bitcoin exchange whale ratio has started rising, suggesting that a dump of the crypto may be coming soon. Bitcoin Whales Now Account For 90% Of Inflow To Exchanges As pointed out by a CryptoQuant post, the exchange whale ratio has risen above 0.9, implying that dumping may be going on in the market. The “exchange whale ratio” is an indicator that measures the ratio between the total Bitcoin amount of top 10 transactions to exchanges and the total inflows. In simpler terms, the metric tells us how…

Bitcoin Whales Were Active on Coinbase Amid a Quiet Holiday Week

But following the big buys, both large buy and sell orders for bitcoin were placed on Coinbase right before the expiry of bitcoin’s options contract on Dec. 31. On Jan. 1, on the other hand, sell orders with more than five bitcoin dominated Coinbase’s BTC/USD trading pair volume. These large trades, however, did not cause any spikes in Coinbase’s spot market share, according to Kaiko’s Medalie, meaning that similar activity was taking place on other exchanges over the same time period. Source

Bitcoin Whales Were Active on Coinbase Amidst a Quiet Holiday Week

But following the big buys, both large buy and sell orders for bitcoin were placed on Coinbase right before the expiry of bitcoin’s options contract on Dec. 31. On Jan. 1, on the other hand, sell orders with more than five bitcoin dominated Coinbase’s BTC/USD trading pair volume. These large trades, however, did not cause any spikes in Coinbase’s spot market share, according to Kaiko’s Medalie, meaning that similar activity was taking place on other exchanges over the same time period. CryptoX Portal

Cardano became the most developed crypto on Github in 2021 — Santiment

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According to data compiled by CryptoRank and Santiment, Cardano (ADA) was the most developed crypto on Github in 2021, with over 140,000 events.  Rounding out the top three were Kusama and Polkadot at second and third places, respectively, with roughly the same number of events over the year. Cardano beat Ethereum’s development activity by a wide margin, with the latter coming in at fourth place. Santiment defines a Github event as either creating an issue, creating a pull request, commenting on an issue or pull request, and forking/starring/watching a code…

DeFi Startup Earnity Accused of IP Fraud in Cred Bankruptcy

In a motion to compel filed last week with the U.S. Bankruptcy Court for the District of Delaware, the trust acting in the interest of Cred lenders said that former Cred executives “secretly conspired” to form Earnity. The new DeFi company, under its beneficial owner Dominic Carosa, then purchased Cred’s electronics, computers and other assets from the trust without disclosing its ties to Cred. Source