Day: January 7, 2022

What Could Trigger Another Decline

Bitcoin extended decline below the $44,000 level against the US Dollar. BTC remains at a risk of more downsides unless there is a break above $45,000. Bitcoin started a major decline below the key $45,500 support zone. The price is trading below $44,000 and the 100 hourly simple moving average. There is a key bearish continuation pattern forming with resistance near $43,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might face resistance if there is a move above the $44,000 level. Bitcoin Price…

SEC files complaint against operator of ‘unregistered’ $33M Crowd Machine ICO

The United States Securities and Exchange Commission (SEC) has filed a suit against Australian Craig Derel Sproule for the allegedly “fraudulent and unregistered” sale “of digital asset securities” in an Initial Coin Offering his company conducted in 2018. The SEC alleges in a Jan. 6 complaint that Sproule’s company, Metavine, Inc. which operated the ICO for Crowd Machine (CMCT) from Jan. to April 2018, sold unregistered securities, never made the project operational and “materially misrepresented how it intended to use ICO proceeds.” In total, the SEC says Sproule raised at…

GameStop shares jump 26% in after hours trade after NFT division unveiled

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The share price of Reddit’s cult-favorite stock GameStop Corporation (GME) jumped by one quarter (in after-hours trading following a Wall Street Journal report on its upcoming NFT division. The U.S. retail game store giant has been quietly working on an NFT marketplace since May, and ramped things up in October by listing several job openings for Web 3.0 and NFT-experienced software engineers and product marketers. According to a Jan. 6 report from the WSJ, GameStop has now hired more than 20 people to operate its freshly minted NFT unit. An…

Goldman Sachs Predicts Bitcoin Could Reach $100K as BTC Continues to Take Gold’s Market Share as Store of Value – Markets and Prices Bitcoin News

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Goldman Sachs has predicted that the price of bitcoin could reach $100,000. The global investment bank believes that bitcoin will continue to take market share away from gold as cryptocurrency adoption grows. Goldman Sachs’ Bitcoin vs Gold Prediction Goldman Sachs analyst Zach Pandl, co-head of global foreign exchange strategy, outlined the future outlook for bitcoin in a research note to clients Tuesday. The Goldman Sachs analyst expects that bitcoin will continue to take market share away from gold in 2022 as cryptocurrencies become more widely adopted. The research note details:…

Autonomy Network Introduces AutoSwap That Offers Stop Losses and Limit Orders on Decentralized Exchanges

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On January 7, Autonomy Network, a DeFi protocol, announced the launch of a unique decentralized application (DApp) known as ‘AutoSwap’ on Binance Smart Chain (BSC)    blockchain  Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only…

$139M Terra proposal to ‘bring awesome UST use-cases’ to DeFi projects

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Decentralized stablecoin issuer Terra issued an ambitious proposal to expand the interchain deployment of its UST stablecoin across five projects on Ethereum, Polygon, and Solana. Terra’s Jan. 6 Research post UST Goes Interchain: Degen Strats Part Three provides details about how $139 million of UST and its native stablecoin LUNA would be utilized and on what platforms if the proposal is passed. Terra is a blockchain that supplies algorithmic stablecoins and LUNA has market cap ($28.5 billion). In each proposed deployment, Terra would deposit UST in varying amounts from $250,000…

GameStop Turn To NFTs, Plans To Launch Marketplace Later In The Year

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Video game retailer GameStop has entered the non-fungible token (NFT) space. According to the Wall Street Journal, it is forming a division to develop a marketplace for non-fungible tokens and form cryptocurrency partnerships with crypto firms. GameStop To Build NFT Marketplace According to the WSJ story, the company has employed more than 20 individuals to oversee the unit, which is developing an online hub for buying, selling, and trading NFTs of virtual videogame artifacts like avatar clothing and weaponry. GameStop launched its NFT website last year and has been inviting…