Up until last week, economists predicted a 50 basis point rate increase, as happened in May. But a U.S. government report Friday showed the consumer price index, which tracks inflation, rose to a new high of 8.6% instead of an expected slowdown. Now, the central bank is entertaining the possibility of accelerating its rate hikes, according to the Wall Street Journal. Source
Bitcoin (BTC) crept higher after the June 14 Wall Street open as analysts hoped that long-term support had been preserved. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Hopes for “relief” from FOMC meeting Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it traded above $22,500 at the time of writing, having hit local highs of $23,300 on the day. The pair had seen a strong bounce after nearing $20,800, with traditional markets likewise recovering after panic set in over United States inflation. Eyeing where Bitcoin could go next, on-chain…
By Marcus Sotiriou, Analyst at the UK based digital asset broker GlobalBlock Global markets took a catastrophic hit yesterday, as the Nasdaq was down 4.60% and the S&P 500 was down 3.88%. Crypto suffered the most, as Bitcoin dropped over 20% to reach a low of $20,800. Ever since the crypto rally in November, in response to Bitcoin ETF Futures product being launched, crypto has been on a ruthless downtrend with little sign of relief. Bitcoin has correlated with the Nasdaq very tightly this year, and actually performed better up until May. When…
Tether Operations Limited (“Tether”), the company operating the blockchain-enabled platform tether.to that powers the largest stablecoin by market capitalization, will launch Tether tokens (“USDt”) on Tezos, a pioneering upgradable Proof-of-Stake blockchain. The addition of USDt to Tezos demonstrates its growing momentum as a thriving Proof-of-Stake blockchain which continues to build a reputation as the leading choice for brands and institutions looking to build the Web3 revolution. Tether’s USDt, now available on 12 blockchain networks, welcomes the Tezos ecosystem to the US $80 billion network. USDt on Tezos will power revolutionary…
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“This is very bad, especially for those holding their coins there, but also for the industry as a whole,” wrote Mati Greenspan, founder of the cryptocurrency and foreign-exchange analysis firm Quantum Economics, wrote Monday in a newsletter. “There isn’t much optimism right now. It’s been a very brutal bear market.” Source
“Collaboratively, Merit Circle Ltd and Yield Guild Games came to an agreement,” YGG wrote in a Medium post. “The proposed solution terminates the formal relationship between the Merit Circle DAO and Yield Guild Games. This space would not be where it is today without Yield Guild Games, and not without the Merit Circle DAO.” Source
THETA was trading higher on Tuesday, as prices rebounded, moving away from multi-year lows in the process. HNT also rallied, climbing by as much as 20% earlier in today’s session. Theta Network (THETA) THETA was one of the most notable movers during today’s session, as prices gained by nearly 20% earlier in the day. Following a low of $0.9688 to start the week, THETA/USD rose to an intraday peak of $1.22 on Tuesday. Today’s surge saw THETA move away from yesterday’s bottom, which is the lowest level prices have been…
Gary Gensler, chair of the United States Securities and Exchange Commission, or SEC, reiterated his call for investor protection in securities offered by crypto firms. Speaking virtually at the Robert F. Kennedy Human Rights Compass Investor Conference on Tuesday, Gensler said the SEC would use its existing authority to focus on cryptocurrency projects and exchanges, warning people of potentially “too good to be true” returns on investments. According to Gensler, the bulk of the tokens in the crypto market today fall under the regulatory purview of the SEC, subject to…
Hardware cryptocurrency wallets are known for granting users full control of their crypto and providing more security, but such wallets are prone to risks such as theft, destruction or loss. Does that mean that all your Bitcoin (BTC) is lost forever if your hardware wallet is lost, burned or stolen? Not at all. There are a number of options to restore cryptocurrency for someone who has lost access to their hardware wallet. The only requirement to recover crypto assets, in that case, would be maintaining access to the private keys. A…