Day: December 7, 2022

Buy the rumor, sell the news? Chainlink (LINK) price drops after staking launch

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Chainlink has a busy start to December when it comes to development launches. The Chainlink (LINK) staking program opened up for early access on Dec. 6 and will expand access on Dec. 8.  According to Chainlink, staking will further secure the project’s node ecosystem and alerting mechanism: “Stakers gain access to staking rewards for securing the network through timely and valid alerts, and in the future, for slashing and loss protection.” Historically, mainnet launches and staking incentives stir up a flurry of blockchain activity and data from on-chain analytics firm…

Exchange Whale Ratio Sharply Declines

On-chain data shows the Bitcoin exchange whale ratio has sharply declined recently, a sign that may prove to be bullish for the price of the crypto. Bitcoin 7-Day MA Exchange Whale Ratio Has Rapidly Gone Down Recently As pointed out by an analyst in a CryptoQuant post, the metric also saw a similar decline during the end of 2018. The “exchange whale ratio” is an indicator that measures the ratio between the sum of the top ten transactions going to exchanges, and the total exchange inflows. The ten largest transfers…

Crypto consumer protection, proof of reserves bills introduced into US Congress

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United States Congressman Ritchie Torres has introduced bills in the House of Representatives to prohibit misuse of customer funds by cryptocurrency exchanges and to require exchanges disclose proof of reserves to the Securities and Exchange Commission (SEC). The short bills are intended to supplement other legislation that is passed on cryptocurrency, Torres said.  Torres introduced the bills, which have the titles of “Crypto Consumer Investor Protection Act’’ and “Crypto Exchange Disclosure Act,’’ on Dec. 1. The bills are very short. In copies obtained from Torres’ office, the body of the…

Telegram Introduces No-SIM Sign-ups With Blockchain-Powered Numbers – Bitcoin News

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Popular messenger Telegram now allows users to open accounts without the need to provide their mobile phone numbers. With the app’s latest update, they can log in using blockchain-based numbers instead, and they can be purchased with cryptocurrency on the Fragment platform. Telegram Promises ‘New Era of Privacy’ With Accounts That Don’t Require Phone Numbers One of the most popular messaging services in the crypto community, Telegram, has issued a new update to its application. The messenger now allows users to have an account without linking a cellphone number, an…

ECB official proposes ban on tokens with an ‘excessive ecological footprint’

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Fabio Panetta, an executive board member of the European Central Bank (ECB), proposed banning crypto assets with a significant environmental impact as part of efforts to address risks. In written remarks for the Insight Summit at the London Business School on Dec. 7, Panetta said harmonizing taxation around crypto between global jurisdictions could address some of the energy and environment costs around mining and validation. He added that tokens “deemed to have an excessive ecological footprint should also be banned,” referring to proof-of-work assets in a citation. Panetta added crypto…

Price analysis 12/7: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI

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The current weakness in BTC and major altcoins shows that investor sentiment remains negative and that bears are active at higher levels. The FTX crisis kept Bitcoin’s (BTC) price under pressure in November, but data from Bitstamp exchange shows institutional investors may have viewed the dip as a buying opportunity. The exchange told Cointelegraph that compared to October, its revenue from institutions increased by 34% in November. In another positive sign, Goldman Sachs executive Mathew McDermott told Reuters that the bank was doing some due diligence on crypto companies since they…

Coinbase CEO Armstrong Confirms Street Expectations for a 50%-Plus Decline in Revenue in 2022

“Last year in 2021 we did about $7 billion of revenue and about $4 billion of positive EBITDA, and this year with everything coming down it’s looking, you know, about roughly half that or less,” Armstrong said in an interview on Bloomberg’s “David Rubenstein Show: Peer-to-Peer Conversations.” Coinbase actually generated $7.8 billion in revenue in 2022, according to FactSet. Source

Nifty Newsletter, Nov. 30–Dec. 6

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In this week’s newsletter, read about how the word “metaverse” placed second in Oxford’s Word of the Year. Check out how Meta is pushing forward its metaverse plans amid doubts and how the nonfungible token (NFT) marketplace Magic Eden announced a tool to enforce royalties. In other news, find out how the Opera Crypto Browser is integrating NFT minting. And, don’t forget this week’s Nifty News featuring a new all-time high for Reddit avatar minting.  Metaverse comes in second place as Oxford’s word of the year The term “metaverse” have…