Month: July 2022

Bitcoin Puell Multiple Lifts Off From Buy Zone, Bull Momentum To Follow?

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On-chain data shows the Bitcoin puell multiple has started to leave the “buy” zone, a sign that the crypto may be heading towards bullish momentum. Bitcoin Puell Multiple Has Gone Up In Value During Recent Days As pointed out by an analyst in a CryptoQuant post, the BTC puell multiple is currently breaking out of the historic buy zone. The “puell multiple” is an indicator that measures the ratio between the daily miner revenues (in USD) and the 365-day moving average of the same. What this metric’s value tells is…

Biden Administration Accused of Propaganda and ‘Redefining’ a Recession’s Technical Definition – Economics Bitcoin News

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After people have accused bureaucrats and government agencies of changing definitions during the last few years, Joe Biden’s administration now claims that a second consecutive quarter of negative gross domestic product (GDP) does not indicate the U.S. is in a recession. This is despite the fact that two negative GDPs have always been considered a recession in the eyes of economists worldwide for years. Furthermore, U.S. treasury secretary Janet Yellen now insists that two declining GDPs is “not the technical definition.” White House Claims Two Consecutive Quarters of Falling GDP…

The Games and Economics of Tomorrow

Eventually, several chains that are dedicated to gaming will become dominant, with easy ways for video games companies to pay into the pool while generating a larger swath of rewards to give away in-game, which will move games beyond siloed one-off, single game currencies that nobody wants. Just as nobody wants to buy celery in the grocery store with celery coin and then switch to bread coin to buy a ciabatta roll, nobody will want World of Warcraft coin when you’ve got a general purpose coin that easily works across…

Is Ethereum Stronger Than Macro Factors? ETH Will Be Tested This Week

Ethereum has lost bullish momentum over the weekend and hints at a pullback in the short term. The cryptocurrency is still leading the current crypto market recovery with a 14% profit over the past week but might be negatively impacted by macroeconomic factors. Related Reading | Bitcoin Bulls Try To Recoup As BTC Dislodged From $22,000 Level At the time of writing, Ethereum (ETH) trades at $1,530 with a 5% loss in the last 24 hours. ETH’s price moving sideways on the 4-hour chart. Source: ETHUSDT Tradingview According to a senior…

Coinbase, Robinhood Shareholders Face Significant Stock Dilution: JPMorgan

Given the sharp drop in share prices, JPMorgan expects Coinbase and Robinhood to lower employee equity grants via RSUs, though it still expects “share creep from RSU issuance will drive dilution to a still substantial 7% pace annually in coming years.” The bank estimates if that 7% pace were to persist for five straight years, it could reduce the value of each company to existing shareholders by 30%. Source

Over a quarter of Asian Pacific ‘emerging giant’ startups tied to blockchain: Report

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The Asia Pacific region is seeing a major business shift with increasing numbers of new technology startups appearing, even as venture capital investment is decreasing compared to last year. A report from Big Four accountant KPMG and international banking company HSBC based on a survey of 6,472 Asian Pacific startups found that over a quarter of them are blockchain related.  Nonfungible tokens, or NFTs, led the way among sectors where Asian Pacific “emerging giants” were active, followed directly by decentralized finance, also known as DeFi. Electric vehicle charging infrastructure, quantum…

US CFTC to Intensify Crypto Work With New Tech Innovation Office

The agency’s LabCFTC, a long-running fintech team, will be transformed into the new office, which will be led by a director that reports to Behnam, he said in remarks prepared for a Brookings Institution event on Monday. The office will also be staffed by specialists, and existing CFTC employees will have a chance to rotate through to get crypto experience. Source

Bitcoin Bulls Try To Recoup As BTC Dislodged From $22,000 Level

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It was a good run until it lasted. The crypto market was having a blast last week, until it sharply nosedived by 3.06% to $1.01 trillion on July 25, Monday. Bitcoin together with Solana, Ether, and Polkadot were all knocked over at the start of the week. Bitcoin was off-course and shaved off the gains it made over the past few days which allowed it to get to its glorious one-month high of $23,000 until it plunged below $22,000 levels on Monday. As of this writing, Bitcoin is trading at…

Tesla reports $64M profit from Bitcoin sale

Tesla’s decision to offload most of its Bitcoin (BTC) treasuries netted the company a hefty profit in the second quarter, even as crypto prices plunged into a bear market. In the first six months of 2022, Tesla recorded $170 million of impairment losses “resulting from changes to the carrying value” of its Bitcoin holdings, according to an official Form 10-Q filing with the United States Securities and Exchange Commission, or SEC. After selling 75% of its BTC stash for dollars in the second quarter, the company netted a realized gain…