Month: January 2022

Small cap altcoins flash bullish signals even as Bitcoin revisits $42.5K

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The cryptocurrency market faced another day of erratic price movements on Jan. 13 after Bitcoin (BTC) bulls were soundly rejected in their bid to push the price above $44,000. This led to an abrupt sell-off that has thrust the price back into the high $42,000 range.  Despite the mid-day struggle faced by Bitcoin and many of the other large market-cap cryptocurrencies, several small-cap altcoins managed to eke out notable gains. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView…

Gemini acquires BITRIA to push crypto into the wealth management industry

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Crypto exchange Gemini announced Thursday that it had agreed to purchase Bitria, a San Fransisco-based start-up that provides traditional portfolio management tools for use in crypto investments. The goal of Bitria is to provide a platform for traditional asset managers and financial advisors to use in helping their clients invest in cryptocurrencies.  Gemini said that it seeks to integrate Bitria’s Separately Managed Accounts and its Digital Turnkey Asset Management platform into its own exchange capabilities. The integration is intended to give advisors access to more than 70 different cryptocurrencies through Gemini’s…

Tether Freezes $160M of USDT Stablecoin on Ethereum Blockchain

Stablecoin issuer Tether froze three Ethereum addresses holding over $160 million worth of USDT, according to data from Etherscan. The three accounts will now not be able to move funds anymore. In total, Tether has blacklisted 563 addresses on the Ethereum blockchain since November 2017, according to the Bloxy block explorer. Tether has said in the past that it regularly works with regulators to supervise suspicious accounts. An address with over $1 million in USDT was frozen in late December. Tether, which issues tokens on several blockchains, began blacklisting addresses…

OpenSea on Track for Record Month as NFT Sales Boom

Non-fungible token marketplace OpenSea is headed for its highest volume month ever, indicating NFTs may be one sector of the cryptocurrency economy that has decoupled from bitcoin’s price drop. For the first half of January, OpenSea has generated nearly $2.7 billion in volume, which is on track to surpass the $3.4 billion high it notched in August, according to data from Dune Analytics. On Jan. 9, OpenSea recorded its largest single-day volume of $261 million dollars, according to Dune Analytics. For each day so far in January, OpenSea has broken…

OCC Chief Hsu Says Regulation Could Boost Stablecoin Innovation

Regulating stablecoin issuers like banks could encourage innovation in the crypto industry, according to top U.S. banking regulator Michael Hsu. Speaking at an event on Thursday, Hsu – the acting comptroller of the Office of the Comptroller of the Currency (OCC) – told attendees that increased regulations for the stablecoin industry could also make innovations longer-lasting. “While innovation thrives in uncertain environments, solid foundations can help,” Hsu said. “Especially when it comes to money and trust.” As the stablecoin market continues to grow, surpassing $150 billion last year, lawmakers and…

All-Time Best-Selling Rapper Just Dropped US$462,000 On a Bored Ape NFT

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In early 2022, Eminem, the 49-year old rapper, spent close to $462,000 to purchase a non-fungible token (NFT) of Bored Ape Yacht Club. He also bought the NFT that resembles him for 123.45 Ethereum, changing his Twitter avatar to a photograph of his “NFT self.” Put simply, an NFT is a form of digital art stored in a Blockchain, a digital ledger. In case the craze hasn’t been evident, other celebrities like Snoop Dogg, Jimmy Fallon, Grimes, and Tom Brady have also jumped on board. It’s been known that NFT…

ERC-4626: DeFi's Newest Money Lego

ERC-4626 is a newly proposed Ethereum token standard that might resolve a sore issue in decentralized finance (DeFi): the mishmash of design types for tokens that print money. Proposed Jan. 4, ERC-4626 co-creator Joey Santoro said Wednesday the token’s documentation is ready for “final review.” He called on the “giga chad brains” of Crypto Twitter to offer feedback on this novel Ethereum Improvement Proposal. This article is excerpted from The Node, CoinDesk’s daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to get the…

Bitcoin Revisits $44k As Exchange Outflows See Uptick

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Bitcoin has enjoyed some uptrend over the past day as the crypto once again visits the $44k price level. On-chain data suggests that an uptick in exchange outflows may be behind the move. Bitcoin Exchange Outflows Observe A Spike In The Past Couple Of Days As pointed out by an analyst in a CryptoQuant post, the BTC exchange outflows have showed raised values recently. The “all exchanges outflow” is an indicator that measures the total amount of Bitcoin exiting wallets of all exchanges. When the value of the metric goes…