Day: November 16, 2022

Bitcoin price dips to $16.4K over Genesis woes as execs defend GBTC

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Bitcoin (BTC) fell to intraday lows after the Nov. 16 Wall Street open as the FTX scandal appeared to claim another victim. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Genesis Trading liquidity “exceeded” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading around $16,400 at the time of writing. Downside had entered again for the pair amid news that Genesis Global Capital, the crypto lending arm of Genesis Trading, had paused withdrawals over liquidity problems. In a series of tweets on the day, Digital Currency Group (DCG), the parent…

BCH Climbs to 1-Week High, DOT Declines – Market Updates Bitcoin News

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Bitcoin cash rose to a one-week high in today’s session, despite crypto markets mostly trading lower. The global cryptocurrency market cap is down by 2.45% as of writing, which comes as traders reacted to rising geopolitical tensions. Polkadot was a notable token to slip, as prices collided with a key support point. Bitcoin Cash (BCH) Bitcoin cash (BCH) raced to a one-week high on Wednesday, despite cryptocurrency markets mostly trading lower. Following a low of $103.09 on Tuesday, BCH/USD surged to an intraday peak of $109.09 earlier in today’s session.…

Why Ethereum Whales Are Accumulating ETH In ‘Abnormal’ Way

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Following FTX’s demise, Ethereum and the whole cryptocurrency industry in general experienced one of its most challenging periods. Because of this, the value of ETH, a significant alternative currency, has plummeted by over 36% in the last week. Bearish emotion may be pervading over the cryptocurrency market, but the second most popular cryptocurrency is now trading almost sideways. But @sanr king, a contributor to Santiment’s insights, has been thinking about this pricing stability. One should view his observation of a heavy influence from whales in the market with caution, as this…

The End of the ‘Centralization Era’ in Crypto

At Ethos.io, we have long been proponents of decentralization and self-custody. In 2017, we designed a decentralized crypto wallet that garnered over 100,000 users, and were then tapped to help build the payment and blockchain rails for Voyager, a centralized crypto broker which scaled to a million users. Source

Binance Coin Shows Weakness As Price Sits On Key Support; Is $200 Possible?

 BNB’s price fails to hold amidst market turmoil as the price falls back to its key support zone with a range-bound movement.  BNB’s price continues to show strength after a bearish downtrend with the market’s current state, as things look uncertain for most traders and investors.  BNB’s price continues to hold $270 on the daily timeframes as the price aims for a bounce above the 50 Exponential Moving Average (EMA) The price of Binance Coin (BNB) has been a standout performer in recent weeks rallying from a low of $280…

Bitcoin 7-Day Volatility Comes Alive As FTX Collapse Shakes Market

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Data shows the Bitcoin 7-day volatility has come alive during the last week as the collapse of crypto exchange FTX has shaken up the market. Bitcoin 7-Day Volatility Has Spiked To Values Above 7% According to the latest weekly report from Arcane Research, the current 7-day volatility levels are the second highest seen in this year. The “volatility” is an indicator that keeps track of the average daily returns in the price of Bitcoin over a specific period of time. While this timespan can be of any length, the “7-day”…

Binance Denies UK MP’s Accusation It Deliberately Sank FTX

The Treasury Committee held a hearing on Monday to question officials from crypto companies in the aftermath of FTX’s collapse, and Daniel Tinder, offered to send the document after Member of Parliament Harriett Baldwin, who is chairwoman of the committee, asked if Binance CEO Changpeng Zhao “brought about the collapse of FTX?” Source

Bitvo abandons FTX purchase | Blockchain News

The Canadian cryptocurrency exchange Bitvo has terminated the proposed acquisition transaction it had with the FTX in order to preserve its standing as an autonomous company.   Pateno Payments, which is an investor in Bitvo, has cancelled the purchase transaction it had been discussing with FTX Canada and FTX Trading in accordance with the terms of the agreement. Pateno Payments is a stakeholder in Bitvo. This information was disclosed by Bitvo on November 15th.   The business has made it abundantly obvious that its operations have not been hampered in…