Day: August 27, 2022

US stocks lose $1.25T in a day — more than entire crypto market cap

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Bitcoin (BTC) and altcoins lost big on Aug. 26 after the United States Federal Reserve delivered hawkish remarks on economic policy. Across the board, risk assets took a major hit — U.S. equities shed around $1.25 trillion in a single session. Analyst: Powell retiring “soft landing” rhetoric As comments by Fed Chair, Jerome Powell, suggested that larger rate hikes were still firmly on the table despite recent data hinting that inflation was already slowing, investors rushed to cut risk. “Restoring price stability will likely require maintaining a restrictive policy stance for…

Axie Infinity Unveils Season 0 With High Expectations

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The most recent roadmap of Axie Infinity states that the start of Origin Season 0 signals the entry into Phase 3. The recent market negative heat has been felt by Axie Infinity. Following the release of the most recent news, the GameFi-based protocol has been rather active in the Twitter conversation boxes. Sky Mavis created the play-to-earn game Axie Infinity. They recently revealed Season 0, which will last for one month. The launch will celebrate the improved gaming environment of Axie Infinity.  Launch Of Axie Infinity Origin Season 0 New…

Supposed Poverty Eradicating Cryptocurrency Criticized as Just Another Complex Nigerian Ponzi Scheme – Featured Bitcoin News

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After reports that merchants and holders of “Zugacoin” cryptocurrency are unable to make withdrawals, the founder of the Nigerian crypto, Sam Zuga responded by accusing unnamed “ignorant people” of working to tarnish the project. One Nigerian expert has advised prospective zugacoin investors to prioritize learning finer details about the project before investing. A Financial System for the Future As promoters of zugacoin — a Nigerian cryptocurrency ostensibly created to end poverty in Africa — continue to tout the token as a legitimate digital currency, there are growing reports on social…

Pro-blockchain narratives hinder Bitcoin adoption, says StackinSat founder

Over a decade-long evolution later, for self-justified personal reasons, a handful of the crypto community members chose to believe in siding against Bitcoin (BTC), resulting in a narrative that preached “blockchain is great, Bitcoin is bad.” Josselin Tonnellier, the founder of Bitcoin exchange StackinSat and organizer of the Surfin’ Bitcoin 2022, believes that this particular notion is one of the main barriers to broader BTC adoption in France.  In an exclusive interview with Cointelegraph reporter Joseph Hall, Tonnellier discussed several important topics, including the adoption of Bitcoin and crypto in France,…

Former South Korean Deputy Minister Yong-beom Kim Joins Blockchain Research Institute

Yong-beom Kim, former first deputy minister of the Ministry of Planning and Finance of South Korea, will join Hashed Open Research, a blockchain and digital technology research institute, as CEO. Yong-beom Kim served as the First Deputy Minister of Economy and Finance of South Korea from 2019 to 2021, and also served as Deputy Chairman of the Financial Services Commission (FSC) and Chairman of the Securities and Futures Commission (SFC) within the FSC. He has extensive knowledge of the economy and will be able to help Hashed Open Research, backed…

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Brazilian Brokerage Platform Rico to Offer Cryptocurrency Services Next Year – Exchanges Bitcoin News

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Rico, a Brazilian brokerage platform part of XP Inc., has announced it plans to enter the cryptocurrency market next year. The division is expanding its operations and will also enter the banking sector, launching digital account services and a credit card. The platform follows in the steps of companies like Nubank and others that have already included crypto in their service portfolio. Rico to Expand Operations to Crypto and Banking Brazilian companies and banks are entering the cryptocurrency business as a way of offering a complete package of…

Avalanche (AVAX) Tries Comeback, Unfazed By $2-B Market Cap Loss In Last 2 Weeks

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Avalanche (AVAX) has pushed forward with its its ascent, despite market obstacles and negative circumstances over the past few weeks. Analysis of the Avalanche price reveals a bearish trend AVAX market sentiment remains bullish AVAX/USD trading at $20.57 as of this writing Due to the unfavorable market conditions, its market cap dropped by almost $2 billion over the last two weeks, but it is now trying to recover. At the time of writing, Avalanche’s market cap – at $5.8 billion – was below its monthly high but above its monthly…

CRYPTO MARKET – NOW! WHY IS THE CRYPTO MARKET BLEEDING OUT?

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