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The online community including some cryptocurrency figures has condemned the latest so-called “sympathy” article from The New York Times written about FTX founder Sam Bankman-Fried. In the Dec. 26 article published titled “In the Bahamas, a Lingering Sympathy for Sam Bankman-Fried,” New York Times journalist Rob Copeland quotes local Bahamians who appeared to have mostly positive things to say about the cryptocurrency exchange founder. One resident opined he had a “good heart,” with another local saying they “feel bad for him.” A resident interviewed for the article even said it “doesn’t…
Stablecoin adoption has grown immensely, observed especially following the collapse of Terra. USDC and USDT have seen sizeable growth, but USDT has a lot of keeping up to do with its value plunging as of press time. USDT trades at $0.09999 as of this writing Stablecoin waning in terms of social mentions and engagements Tether exhibits strength in terms of market cap at $66 billion The transfer volume of stablecoins is seeing impressive growth, including USDC, but USDT needs to catch up and gain more traction. Overall, stablecoins are enjoying…
FTX founder Sam Bankman-Fried has been given some free advice on surviving federal prison by former white collar criminal Martin Shkreli, also known as “Pharma Bro.” Shkreli, who spent around four years behind bars for securities fraud between 2018 and 2022, said the currently-on-bail former FTX executive should consider shaving his head, deepening his voice and skill himself up on gang culture and rap music. The former prison inmate was speaking on a Dec. 23 episode of the crypto podcast Unchained, where he suggested that SBF needed to rebrand himself…
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Ethereum is still consolidating below the $1,230 resistance against the US Dollar. ETH could react to the downside if it stays below $1,230 for a long time. Ethereum is attempting an upside break above the $1,230 resistance zone. The price is now trading above $1,200 and the 100 hourly simple moving average. There was a break above a connecting bearish trend line with resistance near $1,218 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if there is a close above $1,230 and…
Crypto trading volumes in India have plunged significantly this year. The FTX meltdown has exacerbated the problem, hurting “the sentiment across crypto tokens.” Local crypto experts are not expecting a recovery in the near future “Unless something dramatic happens” in the upcoming Union Budget. Indian Crypto Market ‘Dead’ Since April, Says Expert Cryptocurrency trading volumes at major exchanges in India have plunged significantly this year. Since the collapse of crypto exchange FTX, major exchanges in India lost between 34% and 50% of trading volumes, Moneycontrol reported Monday, citing data from…
Ripple is attempting an upside break above the $0.365 resistance zone against the US Dollar. XRP price could fail to gain pace if it stays below the $0.3720 resistance. Ripple is currently recovering above the $0.355 resistance zone against the US dollar. The price is now trading near $0.360 and the 100 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near $0.3480 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair could start a fresh decline if…
Nonfungible token (NFT) firm Dust Labs is migrating its two top-performing Solana NFT projects — DeGods and y00ts — onto Ethereum and Polygon in a bid to expand their adoption. The news was announced on DeGods and y00ts Twitter pages on Dec. 25, with both expected to be officially bridged onto Ethereum and Polygon, respectively, in the first quarter of 2023. DeGods and y00ts creator Rohun Vora, known by the alias Frank III, said the decision was made to “explore new opportunities” and to allow for the continued growth of…
Nonfungible token (NFT) firm Dust Labs is migrating its two top-performing Solana NFT projects — DeGods and y00ts — onto Ethereum and Polygon in a bid to expand their adoption. The news was announced on DeGods and y00ts Twitter page on Dec. 25, with both NFT projects expected to be officially bridged onto Ethereum and Polygon respectively in the first quarter of 2023. Rohun Vora — the creator of DeGods and y00ts who is known by the alias Frank III — said the decision was made to “explore new opportunities”…