Day: March 14, 2022

Bitcoin MPI Rises To Highest Value Since March 2021, Bull Rally Soon?

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On-chain data suggests the Bitcoin MPI indicator has observed a rise recently, now reaching the same values as March 2021. Past pattern may hint that a bull rally could follow here. Bitcoin MPI Seems To Be Catching Some Uptrend After Months Of Inactivity As explained by an analyst in a CryptoQuant post, the BTC MPI metric’s current trend may suggest that a bull rally could occur soon, if historical pattern is anything to go by. The “Miners’ Position Index” (or the MPI in short) is an indicator that’s defined as…

Department of Justice Targets Crypto Exchanges in Effort To Clamp Down on Russian Oligarchs: Report

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The Department of Justice (DOJ) says crypto exchanges will be included in a sweeping new strategy to clamp down on the assets of Russian oligarchs. Earlier this month, the DOJ announced the launch of a new task force called KleptoCapture aimed at targeting oligarchs and other high-ranking Russian officials during its war with Ukraine. According to the DOJ, the task force is “dedicated to enforcing sweeping sanctions, export restrictions, and economic countermeasures that the US has imposed, along with allies and partners, in response to Russia’s unprovoked military invasion of…

Here’s how Asian countries deal with crypto sanctions against Russia

Amid the United States and the European Union taking measures to prevent Russia from using cryptocurrencies to potentially evade sanctions, some countries in Asia have also been moving to respond to the situation. Japan to fine crypto exchanges for violating sanctions Japan became the latest country in Asia to call cryptocurrency firms to comply with sanctions against Russia, requesting on Monday that they  not process crypto transactions involving sanctioned individuals or entities in Russia and Belarus. The Japanese Financial Services Agency (FSA) and the Ministry of Finance issued a joint…

RUNE Rises by Over 15%, as FTM and AVAX Trend Lower – Market Updates Bitcoin News

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Thorchain (RUNE) rallied to its highest level since January, as cryptocurrency markets started the week mainly in the red. Avalanche (AVAX) was one of these cryptocurrencies trading lower on Monday, and fantom (FTM) fell by close to 10% on the day as well. Thorchain (RUNE) While cryptocurrency markets have been mainly lower over the past week, thorchain (RUNE) has climbed by almost 70% in that same period. Following a low of $6.15 on Sunday, RUNE/USD rose past its resistance of $6.60 to start the week, climbing to its highest level…

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QuickSwap Asks The Community, To Split or Not to Split QUICK Token?

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Decentralized exchange running on Polygon, QuickSwap has officially begun a voting process regarding QUICK. The platform’s native governance and utility token, QUICK holders will vote on rejecting or approving a process called “redenomination”. Related Reading | Why Polygon Will Implement Ethereum’s EIP-1559 Update If approved, the QUICK token will be “split” thus increasing its total supply from the current 1 million to 100 million or 1 billion. The latter will be decided in posterior voting if the community decides to approve the event at all. In that sense, the current…

European Parliament votes against PoW ban, providing huge relief to the crypto industry

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Earlier on Monday, members of the European Parliament’s Committee on Economic and Monetary Affairs voted against a version of the Markets in Crypto Assets, or MiCA, bill that could have effectively banned proof-of-work-based cryptocurrencies within the EU. This comes as a huge relief for the crypto industry, whose representatives had previously warned about the threat of a hardline regulatory scenario.  MiCA is a regulatory framework that contains 126 articles as well as a detailed plan of their implementation by the EU’s and member states’ institutions. The draft was introduced by…

Why REQ, MFT and KEY rallied over 20%

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Cryptocurrency bulls continued to face stiff headwinds headed into the week of March 14 that began with a vote in Europe about whether to outlaw proof-of-work cryptocurrencies, which was ultimately rejected.  Despite these pressures, however, several cryptocurrency projects have managed to post gains in excess of 20% on March 14, thanks to new partnerships and protocol updates. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Request Network (REQ),…