Bitcoin (BTC) has traded in a tight range over the past week. The cryptocurrency is on watch for a brief relief bounce above $30K, although upside appears to be limited from here. Original
Bitcoin Holds Support at $27K-30K; Resistance at $35K
Day: May 23, 2022
Bitcoin Investors Gripped By Fear, Any Signs Of Hope Remains?
Bitcoin is moving sideways after a major bear assault took it below its 2021 low. The first crypto by market cap seems to be displaying short-term low volatility and could see further downside, according to market participants’ expectations. Related Reading | Coinbase Is on a Downwards Spiral and Could Be Taking your Crypto with It At the time of writing, the first crypto by market cap trades at $30,400 with a 1.5% profit in the past 24-hours. BTC moving sideways on the 4-hour chart. Source: BTCUSD Tradingview The crash in the…
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Coinbase Is on a Downwards Spiral and Could Be Taking your Crypto with It
May has been an explosive month for cryptocurrency, with huge market crashes and the complete collapse of LUNA causing a massive downturn in average trading figures. To add to this news, Coinbase’s recent financial reporting release doesn’t shine favorably on the decentralized exchange. With over 98 million verified users and billions in controlled assets, many thought of this institution as simply too big to fail. Yet, things aren’t looking good for Coinbase, with their recent announcement suggesting that they may soon have to file for bankruptcy. To make matters worse,…
South Korean Crypto Exchanges Warn on Litecoin Transactions
Bithumb and Upbit, two major South Korean cryptocurrency exchanges, have issued warnings on Litecoin (LTC) over confidential transactions performed on its latest update. Both exchanges cited South Korea’s Act on the Reporting and Use of Specific Financial Transaction Information, a policy requiring crypto exchanges to conduct know-your-customer (KYC Know Your Customer (KYC) Know Your Customer (KYC) is the process via which the broker is verifying the true identity of its clients in order to comply with multiple regulations. KYC is used to assess the suitability of customers when it comes…
Korean Police Move to Freeze Luna Foundation Guard Assets: Report
Seoul police are seeking to ban the entity from withdrawing crypto amid suspicions of embezzlement. Source
Gamestop Launches Web3 Ethereum Wallet That Leverages Loopring’s ZK-Rollup Tech – Bitcoin News
This week, the consumer electronics and gaming software retailer, Gamestop, has officially revealed the company’s self-custodial, Web3 ethereum wallet. The wallet is currently in beta form and now available via the firm’s web portal, in order to provide users with a wallet that stores crypto assets and non-fungible tokens (NFTs). Furthermore, the wallet utilizes Loopring’s layer two (L2) ZK-rollup technology to provide users with “fast [and] fairly priced transactions.” Gamestop Wants to Bring Power to Players via the Company’s Self-Custodial Ethereum Wallet For quite some time now, it’s been well…
Bitcoin Miners in China Defy Crypto Mining Ban, Now Ranked 2nd in BTC Hashrate
Summary: Bitcoin miners based in China now control 21.1% of BTC’s hashrate. China is now ranked second in Bitcoin’s hashrate, hinting at the existence of covert mining facilities. This is despite China’s government reiterating in May 2021 its ban on Bitcoin mining and crypto trading. Due to the ban, the dominance of Bitcoin miners based in China had dropped from almost 50% in May 2021 to 9% in July 2021. China has once again reemerged as a significant contributor to the Bitcoin (BTC) network despite the country’s government reissuing a…
Amid Market Downturn, ‘Goblintown’ NFTs Have Their Moment
The goblin-themed PFP collection did over $7 million in sales volume this weekend, fueled by rumors a larger team could be behind the scenes. Source
GAIMIN Gladiators’ DOTA 2 Team Finish Top 4 in Stockholm Major – Press release Bitcoin News
press release PRESS RELEASE. Zug, Switzerland, 22nd May 2022: GAIMIN Gladiators are delighted to announce their DOTA 2 finish Top 4 in the ESL One Major in Stockholm. For the last 10 days, GAIMIN Gladiators’ DOTA 2 team have achieved unprecedented acclaim for their progression in the ESL One Stockholm Major. As a newly formed team, in their first four months, this team has achieved success that is typically only seen in longer established and more highly funded teams. The DOTA 2 team lost out to OG in the lower…