Day: January 14, 2022

Bitcoin Loses Momentum, Why $40k Is A Key Level For Future Gains

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Bitcoin has been rejected near the $44,000 price and has been moving sideways since earlier this week. The benchmark crypto could make another attempt to break this resistance levels but will most likely remain range bound until $50,000 and $53,000 are reclaim. Related Reading | Bitcoin Aims For $48K? BTC Reacts Upward To U.S. Inflation Report As of press time, Bitcoin trades at $42,341 with a 3.5% loss in the past day. BTC moving sideways in the 4-hour chart. Source: BTCUSD Tradingview BTC’s price has performed positively after the U.S.…

Web 3 Is a Long Fight Worth Fighting

With all the attention – and divisive debates – around Web 3 this past month, you might think the idea of a third, more decentralized internet era is entirely new. In truth, “Web 3.0” has been part of a two decades-long discussion around the societal, cultural and political distortions created by the dominance of big internet platforms such as Google and Facebook and around the negative impact of Web 2.0’s data-driven economics. It long precedes the latest crypto-based iteration as Web 3, which Ethereum and Polkadot co-founder Gavin Wood spearheaded…

Crypto-focused software firm Lukka raises $110M, reaches $1.3B valuation

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Cryptocurrency accounting and data company Lukka said it had raised $110 million in a new funding round led by hedge fund giant Marshall Wace. In a Friday announcement, Lukka said it had completed a $110 million Series E funding round led by Marshall Wace, with participation from Soros Fund Management — a fund created by billionaire investor George Soros — Liberty City Ventures, S&P Global, and accounting advisor CPA.com. Lukka said it planned to use the funds for “aggressive growth and global expansion strategy” with its current customer base dealing…

Crypto Market Is Still In The Early Stages, Says Ric Edelman

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Famed finance author Ric Edelman has said that crypto is still in the very early stages, comparing it to the internet right before the big boom. The crypto market which is a little over a decade old has grown exponentially in its short time in existence. At its highest, the market grew to $3 trillion surpassing the valuation of some of the most valuable companies in the globe. Despite this growth, the market still has a lot of growing to do and Edelman believes this is only the beginning. Comparing…

Bukele’s Bitcoin trade raises El Salvador’s sovereign credit risk: Moody’s

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El Salvador’s historic embrace of Bitcoin (BTC) could have negative consequences on the country’s sovereign credit outlook, according to Moody’s Investors Service.  Moody’s analyst Jaime Reusche told Bloomberg this week that El Salvador’s Bitcoin gambit “certainly adds to the risk portfolio” of a country that has struggled with liquidity issues in the past. Under the leadership of President Nayib Bukele, El Salvador has recognized Bitcoin as legal tender and issued a state-run crypto wallet to facilitate payments, transfers and ownership. Along the way, El Salvador has amassed a treasure chest…

Nayib Bukele Is Not the Bitcoin Hero We Need

The decision facing bitcoin advocates now may be more complex. El Salvador is a valuable testing ground for the digital currency, but if El Faro’s findings are true it seems clear the Bukele administration can no longer be considered a trustworthy partner. Beyond the simple ethics of supporting a regime that seeks antidemocratic methods of repressing its critics, the bitcoin community must be vigilant about public perception, given the continued widespread hostility towards cryptocurrency. A leader willing to use black-ops spyware against his own citizens is not an acceptable figurehead…

Cloudy With A Chance Of Reversal

Bitcoin price is at a pivotal zone, nearing a potential point of no return for bulls. However, the weekend forecast could suggest sunnier skies are in the future, so long as BTCUSD holds above the weekly Ichimoku cloud. Here is a closer look at BTCUSD weekly timeframes “at a glance” using the Ichimoku Kinko Hyo. Bitcoin price is holding above the cloud | Source: BTCUSD on TradingView.com Weekly Bitcoin Price Action At A Glance Using Ichimoku Using nothing more than the naked Ichimoku chart above, BTCUSD weekly has touched and…

Binance Backs WOO Network With A $12 Million Strategic Investment

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Binance is the largest exchange platform in trading volume within the crypto industry. Through its user-friendly interface, the exchange has over 20 million users. In addition, the platform supports several cryptocurrencies that would boost an investor’s portfolio. In its move to enhanced performance and services to customers, Binance has a strategic investment of $12 million through its venture capital arm. The investment is in a liquidity platform, WOO Network. This liquidity platform connects users to exchanges, DeFi networks, and other institutions. Binance Labs, which kicked off in 2017, has committed…

Tesla Begins Accepting Dogecoin Payments — Some Merchandise Can Only Be Purchased With DOGE – Altcoins Bitcoin News

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Tesla now accepts dogecoin for some merchandise on its website. CEO Elon Musk delivered on the promise he made in December that his electric car company will accept DOGE. Meanwhile, Tesla still has not resumed accepting bitcoin. Dogecoin Now Accepted for Select Tesla Merchandise Elon Musk’s electric car company, Tesla, has begun accepting dogecoin payments for some merchandise. CEO Elon Musk announced early Friday morning on Twitter, “Tesla merch buyable with dogecoin.” He first tweeted in December last year that Tesla will accept DOGE. Following Musk’s tweet, dogecoin immediately surged…

ICON commits $200M to interoperability incentive fund

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The ICON Foundation announced plans to launch an interoperability incentive program for 200 million ICX, or approximately $200 million at the time of publication. The foundation supports the development of the ICON network, South Korea’s largest public aggregator chain. The foundation said that it hopes this program will incentivize the ICON community and its partner networks to adopt ICON’s Blockchain Transmission Protocol, or BTP. The incentive program aims to distribute up to 200 million ICX tokens over a period of five years, primarily funded by the ICX reserve allocation raised during…