Day: March 11, 2022

Is the Ukraine war intensifying regulatory pressure on crypto firms?

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Whose side are you on? The Ukraine-Russia war is forcing people to answer that question. For some in the crypto community, this can be uncomfortable because if an individual or project stands with the West against Russia, it also means it abides by sanctions. This can be tough to square with crypto/blockchain’s supposed decentralized system and its claims on being borderless, censorship-free and distributed.  Take OpenSea, the NFT marketplace, which really isn’t a decentralized project but is often described as such. “OpenSea is a decentralized peer-to-peer marketplace for buying, selling…

Self-made wealth more likely to flow into crypto than inherited: Report

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Self-made wealthy individuals worldwide appear more likely to invest in cryptocurrencies like Bitcoin (BTC) as opposed to those whose wealth is mostly inherited, a new survey suggests. Wealth-X, a research startup focused on wealth information, released a new report on the peculiarities of crypto investments made by wealthy people worldwide on Thursday. This report is devoted to wealthy individuals with a net worth of $5 million and more, including those who are professionally involved in the crypto industry and those who have a general interest in the sector. As crypto…

Here’s how traders were alerted to RUNE’s, FUN’s, WAVES’ and KNC’s big rallies last week

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A digital asset’s price rally rarely comes out of the blue. Before the token’s market value explodes, some collateral forces come into motion. The asset can suddenly attract abnormally high online attention, its trading volume can go up dramatically, or some market-moving information can go public that triggers the first two examples. Mastering the art of crypto trading means learning to see those subtle cues early on. Spiking trading volume is one of the signs that something interesting might be brewing around a crypto asset. Often, trading volume simply follows…

Bank of Uganda Reportedly Commences CBDC Study – Bitcoin News

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The Bank of Uganda (BOU) has commenced a study that explores the feasibility of issuing a digital currency. However, an executive with the institution warned that the central bank needed to be clear why it must have this in the first place. Faster Movement of Money The Ugandan central bank is reported to have commenced studying the feasibility of issuing a CBDC that will be used by households and businesses. In addition, the BOU is reportedly planning to revise the country’s financial laws. The move enables the BOU to formally…

Stacks price plunges hard after rallying 70% in a day — more STX losses ahead?

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Stacks (STX) pared a considerable portion of the gains it made on March 10 as the euphoria surrounding its $165 million pledge to support Bitcoin (BTC) projects showed signs of fading. STX’s price dropped by over 30% to reach a level as low as $1.33 on Friday when measured from its week-to-date high of $1.94. The selloff, in part, appeared technical as the $1.94-top fell in the same range that served as solid support between October 2021 and January 2022, only to flip later to become a resistance area. STX/USD…

Massive Amount Of ‘Sleeping’ Bitcoin Moved After More Than 11 Years In Hibernation

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A large sum of money from a “Sleeping” Bitcoin was transferred after being dormant for more than a decade. Since the crisis between Russia and Ukraine and heightened pessimism about the future of the global economy, cryptocurrency values have been volatile. On Thursday, bitcoin’s price surged to a high of $42,592, after a two-day low of $38,300. After a brief period of optimism, BTC’s value returned to the $38K mark late Thursday. Related Article | Billionaire Investor Says Crypto Outlook Is ‘Very Bullish’ For Bitcoin However, despite the market’s volatility,…

$1,200 gold price again? Mining legend Ian Telfer: 'We have found all the gold we're going to find'

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Ian Telfer, former chairman of Goldcorp, discusses with David Lin, anchor for Kitco News, that “peak gold” has already been achieved, and because of that, the price will not retrace to $1,200 an ounce in our lifetimes. Telfer recently addressed the Association for Mineral Exploration’s (AME) annual Roundup Conference in early February 2022. Follow David Lin on Twitter: @davidlin_TV ( Follow Kitco News on Twitter: @KitcoNewsNOW ( AME website: 0:00 – Resource sector 1:25 – Gold price outlook 2:45 – M&A in…