Day: December 30, 2022

Dogecoin Price Tumbles Below Support, Why This Could Be Strong Bearish

Dogecoin extended its decline below the $0.070 support against the US Dollar. DOGE could continue to move down towards the $0.0620 support zone. DOGE gained pace and traded below the $0.072 support against the US dollar. The price is trading below the $0.0700 zone and the 100 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $0.0698 on the 4-hours chart of the DOGE/USD pair (data source from Kraken). The pair could dive further towards the $0.062 support in the near term. Dogecoin Price…

Venezuelan Banking Watchdog to Oversee Crypto Transactions to Preserve Currency Stability – Economics Bitcoin News

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Sudeban, the Venezuelan banking watchdog, is currently working on a mechanism to review crypto-related transactions in real-time to control the influence these have on the stability of the exchange market. Analysts have recently linked the situation in peer-to-peer (P2P) crypto markets to the recent drop in the value of the bolivar. Venezuelan Government to Monitor Crypto Transactions The Venezuelan government is aiming to monitor the the movements of crypto-based P2P exchanges to protect the value of the bolivar. On Dec. 20, the Venezuelan banking watchdog Sudeban explained that it is…

FTX founder reportedly cashes out $684K after being released on bail

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FTX founder Sam Bankman-Fried is reportedly cashing out large amounts of cryptocurrency soon after being released on bail, on-chain data suggests. SBF has cashed out $684,000 in crypto to an exchange in Seychelles while being under house arrest, according to the on-chain investigation by DeFi educator BowTiedIguana. Decentralized finance (DeFi) analyst BowTiedIguana took to Twitter on Dec. 29 to report on a series of obfuscated wallet transactions allegedly linked to SBF, suggesting that the former FTX CEO could have violated release conditions to not spend more than $1,000 without permission…

CBRT Announces Successful First Payment of Digital Turkish Lira with More Test Scheduled for Q1 2023

According to CBRT, the Digital Turkish Lira needs vigorous testing to ensure that the underlying distributed ledger technology does not fail after rollout. BBThe Central Bank of the Republic of Türkiye (CBRT) has announced a successful first payment transaction using the Digital Turkish Lira. As the county grapples with high inflation under President Tayyip Erdogan, CBRT intends to scale up its pilot test program in 2023 with selected financial institutions. Notably, Turkey is conducting the viability use case for the Digital Turkish Lira until 2025. According to a press release…

Cleaning Up Cryptocurrency: The Energy Impacts of Blockchains

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io The Subcommittee on Oversight and Investigations of the Committee on Energy and Commerce will hold a hybrid hearing that includes both in-person and remote attendance on Thursday, January 20, 2022, at 10:30 a.m. This hearing will take place in the John D. Dingell Room, 2123 of the Rayburn House Office Building, as well as remotely using Cisco WebEx online video conferencing. The hearing is entitled, “Cleaning Up Cryptocurrency: The Energy Impacts of Blockchains.” ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube…

Ethereum-Killer Solana Down 96% in 2022, Drops Out of Top 20 Crypto List

Despite a major correction in SOL price after the implosion of FTX, Ethereum co-founder Vitalik Buterin believes that Solana has a bright future. The year 2022 has been one of the most dreadful years for crypto market investors and Ethereum-killer Solana is particularly going through a very rough phase. On Thursday, December 29, the Solana (SOL) price tanked a further 17% moving all the way to $8.5 levels. The SOL cryptocurrency also dropped out of the top 20 crypto list, however, it has partially recovered from there as well. As…

Amazon Lost Half Its Value Over Last Year as Recession Fear Grows

Going into 2023 analysts are expecting a further slowdown in Amazon’s retail sales growth and cloud computing business growth. Shares of e-commerce retail giant Amazon (NASDAQ: AMZN) have been crushed pretty hard this year in 2022. Amazon has lost over 50% of its value while becoming the first company to lose $1 trillion in market value. Value of Amazon and Its Stock The AMZN stock is also facing its worst year since the Dot-Com crash. Back in 2022, the AMZN stock had crashed more than 80%. This year’s 50% price…

SOL Is Not Dead Yet, Analyst Says

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Solana is undoubtedly one of the biggest losers of 2022. With a price drop of 96.2% from its all-time high, investors had to cope with a harsh price correction. One of the main reasons for the crash can be seen in the insolvency of FTX. Since Sam Bankman-Fried’s investment firm Alameda Research still has a considerable stack of SOL in its portfolio, the situation is unlikely to improve, at least in the short term. New CEO John Ray will inevitably have to liquidate this position in order to pay out…