Day: February 2, 2022

India Heading Toward Crypto Legalization?

One of the key themes for 2022 is the relationship between governments and the crypto industry. On today’s show, NLW looks at the latest from India, one of the countries with the highest degree of speculation on whether banning or regulation is the path forward. The regulatory and legalization path got a big boost earlier this week during the finance minister’s annual presentation of the budget to Parliament. NLW also covers Russia’s seeming path to regulatory integration of crypto, as well. Source

Volume Of Bitcoin Illiquid Supply Points To Growing Bullish Sentiment

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The way bitcoin holders move the BTC in and out of their wallets can often be a strong indicator of where the market might be headed next. Not just the movements of the asset, but where they are being moved to. An example of this is when more investors are moving their holdings to exchanges, which means that sell sentiment has risen and investors are dumping their coins, and vice versa. In this same line, looking at the liquid and illiquid supply of bitcoin can also be another strong indicator.…

$5 wrench attacks appear to be on the rise in the crypto community

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Normally, the only way to access one’s crypto funds is through their private key, which, thanks to advances in cryptography, would take nothing less than an advanced futuristic quantum computer to decipher. That said, mafias and gangs have managed to think outside the box. Instead of wasting their efforts on breaking the underlying cryptography, they’ve turned their attention to targeting crypto owners, themselves. A $5 wrench attack is when someone finds out you have a lot of crypto and physically attacks or threatens you for your private keys. On Wednesday,…

Bitcoin Nosedives Below $38k As Tech Stocks Take A Beating, Pandemic Gains Disappears

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Bitcoin was down in the afternoon session on Wednesday, as bargain hunters and dip takers failed to maintain this morning’s momentum. The premier crypto continues to maintain price action similar to tech stocks. Bitcoin Price Falls Bitcoin sank below $38,000 as Wall Street opened, giving up half of the gains made on Feb. 1. Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it dipped below $38,000 as Wall Street opened, giving back half of the gains made on Feb. 1. Bitcoin’s price has risen above $39,000 after a…

Neopets Pitched a Metaverse Pivot. Fans Balked

What’s crypto’s hottest play-to-earn, NFT-based pet game? If you guessed Axie Infinity, you’re right – but the Neopets Metaverse team wants to change that. At least, that’s the stated plan. The project, which launched last September, aims to bring the once-popular pet collecting game – which peaked in the early 2000s and has been on a slow decline ever since – into the Web 3 era. According to an October 2021 Medium post, the Neopets Metaverse team plans to create a “vast immersive environment where players can interact” and establish a…

Russians Own $215 Billion in Crypto Suggests Estimate Attributed to Government – Regulation Bitcoin News

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Russians may own more cryptocurrency than previously thought, a new estimate reportedly used by the government has indicated. The quoted figure amounts to over a tenth of the global holdings and may serve as an impetus for the government to regulate Russia’s crypto market rather than outlaw it. Estimated 12% of Crypto Allegedly Held by Russians Russian citizens own cryptocurrencies worth over 16.5 trillion rubles (around $215 billion), according to an estimate referred to by authorities in Moscow, Bloomberg reported. The figure has surfaced as government institutions are trying to…

Paradigm Offering ‘Futures Spread Orderbooks’ on Deribit and Bybit

CryptoX – Cryptocurrency Analysis and News Portal A futures spread trade is an arbitrage technique where a trader takes two positions on a commodity to capitalize on a discrepancy in price. So a trader buys one futures contract and sells another with a different expiry date. Instead of trading the price of the underlying asset – in this case, bitcoin or another cryptocurrency – based on the investor’s view of the future direction of the market, traders bet on the price difference between the two contracts. Source The post Paradigm…

Paradigm Offering ‘Futures Spread Orderbooks’ on Deribit and Bybit

A futures spread trade is an arbitrage technique where a trader takes two positions on a commodity to capitalize on a discrepancy in price. So a trader buys one futures contract and sells another with a different expiry date. Instead of trading the price of the underlying asset – in this case, bitcoin or another cryptocurrency – based on the investor’s view of the future direction of the market, traders bet on the price difference between the two contracts. Source

Coinbase, Genesis Highlight Massive Institutional Growth at MicroStrategy Conference

Speaking with MicroStrategy CEO Michael Saylor at the Bitcoin for Corporations conference, Head of Coinbase Institutional Brett Tejpauln said institutions now make up 50% of his company’s business, up from 10% three years ago. Alongside, Coinbase’s institutional group size has grown from about a dozen to 150. What Tejpauln began to see emerging in the last year, and what’s needed even more in coming years, is boosted liquidity as institutions need to know they can transact in large volume. A far more recent emerging theme, he said, is retailers showing…