Day: April 29, 2022

Bitcoin Down as Market Braces for Fed’s 50 Basis Point Rate Hike

“The Fed’s response to COVID increased the money supply by over 40%, directly providing stimulus checks and indirectly growing capital reserves through quantitative easing,” IntoTheBlock’s research head Lucas Outumuro said. “Now that the ‘money printer’ is expected to slow down, markets have been anticipating a hangover from the excessive stimulus provided, weighing down on valuations of both stocks and crypto.” Source BasisBitcoinBracesFedsHikeMarketPointRate CryptoX Portal

NEXO up Nearly 50% After Binance Listing, While TRON Climbs to 1-Week High – Market Updates Bitcoin News

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NEXO was up by nearly 50% on Friday, as markets reacted to the news that Binance was listing the token on its platform. Today’s surge sent NEXO to a multi-week high, while TRON also moved higher, hitting a one week peak. NEXO Two weeks after announcing a partnership with Mastercard to launch the world’s first “crypto-backed” payment card, NEXO today achieved another milestone. Binance confirmed that it will be adding the token to its platform, and this news was well received by markets. NEXO/USD rose by nearly 50% during today’s…

3 Metrics to Analyze GameFi Projects

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Use data to determine the health and potential of new gaming projects. While the popularity of GameFi continues to grow, there are still relatively few genuinely fun games among the 1,322 in total. In many cases, it’s not enough to assess the potential of a project just by looking at screenshots or walkthroughs, because the playability of a game is a subjective point.  Instead, investors and analysts should go beyond the surface and consider the data behind a game. Here are three key metrics to look at when evaluating the…

Bitcoin disappoints on bull run as AMZN stock sees biggest 1-day drop since 2014

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Bitcoin (BTC) fell into the Wall Street open on April 29 as United States markets opened to volatility, including an 11% drop in Amazon stock. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView All change at the Fed Data from Cointelegraph Markets Pro and TradingView confirmed BTC/USD dipping to $38,622 on Bitstamp Friday. Despite a let-up in the U.S. dollar’s relentless bull run, Bitcoin showed little signs of strength as it remained firmly under $40,000. Macro factors remained against the largest cryptocurrency along with risk assets more broadly, commentators noted, as the…

Crypto Uncertainty Continues, as BTC Drops Again – Market Updates Bitcoin News

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Crypto prices continued to seesaw on Friday, as both bitcoin and ethereum fell into the red, after a short lived rally on Thursday. Bitcoin was once again below $40,000 during the session, while ethereum extended its recent spell of trading below $3,000. Bitcoin Bitcoin (BTC) once again fell below the $40,000 level on Friday, following a short stint in the green during yesterday’s session. Following a peak of $40,269.47 on Thursday, BTC/USD fell to an intraday low of $38,698.16 earlier today. This comes as BTC was unable to climb above…

US crypto adoption remains high despite global inflation fears

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A quantitative analytics report published by DappRadar has unveiled a number of revelatory behavioral market indicators for the global adoption of digital assets. The blockchain data portrays a positive sentiment for the Web3 and metaverse sectors, especially in the United States, a reactionary rise in crypto interest throughout Ukraine and Russia following the outbreak of the conflict, addition to how the well-documented surge of gas prices throughout Europe is impacting inflationary metrics. Bar chart statistics reported a high correlation between unfavorable economic dynamics witnessed in times of currency deflation and…

Central Bank of Cuba Introduces Specific Virtual Asset Service Providers Regulation – Regulation Bitcoin News

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The Cuban government has issued new regulations concerning the operation of virtual asset service providers (VASPs) in the country. In an official resolution, the Bank of Cuba establishes specific procedures that these individuals or companies must follow to operate legally in the country, after establishing a general framework in August. Bank of Cuba Clarifies Rules for VASPs The Cuban government has advanced a new law framework that brings clarity to how virtual asset service providers must proceed to operate legally in Cuba. A new decree, identified with the…