Day: January 13, 2023

Bitcoin Price Clocks Above $19K for First Time Since FTX Fiasco Fueled by CPI Data

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Bitcoin whales significantly contributed to the recent rally above $19K. Bitcoin price gained over 3 percent on Thursday and briefly traded above $19K for the first time in eight weeks. Having broken above December highs of around $18,353, the mother coin exchanged about $18,836 during the early Asian trading market. The increased upward volatility on the Bitcoin and altcoin market coincided with the United States Consumer Price Index (CPI) data released on January 12. According to data from the Bureau of Labor Statistics December CPI data remained unchanged, which means…

Huobi and Solaris crypto-to-fiat debit card launches in the EU

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As the crypto space continues to expand into the mainstream, bridging the gap between digital currencies and fiat currency is a priority for many legacy financial institutions. Cryptocurrency exchange Huobi announced its partnership with Solaris, a European financial services provider, to launch a crypto-to-fiat debit card. The program, which Visa has approved, allows Huobi users to use their digital assets at the point of sale globally. Users residing in the European Economic Area (EEA) will have access to the card beginning in the second quarter of 2023. The EEA comprises…

Liquidations Cross $200 Million Following Bitcoin’s Rise Above $19,000

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The last 24 hours have been filled with twists and turn for the crypto market but one thing that is important is that bitcoin crossed $19,000. This would be the first time that the digital asset would be reaching this price since the FTX collapse triggered another market downturn. However, as always, such sudden movements in the market would lead to liquidations, and traders are feeling the heat. Crypto Liquidations Cross $200 Million Over the last day, liquidations have ramped up, seeing more than $200 million in losses for traders.…

European Markets Hit Highest Level amid US Inflation Data

Indices across the European continent gained anywhere between 0.75-1% with sectors like autos, banks, retail, and telecoms taking the lead. On Thursday, January 12, the European markets closed to their highest levels in eight months since April 2022. Stoxx 600, the pan-European index closed at 0.7% higher with most sectors in the positive territory. Stocks in the retail sector mainly led up the gains closing 2% up. However, the healthcare and the chemicals sectors both ended in the red 0.1% down. But sectors like autos, banks, retail, and telecoms were…

Belarusian Fined $1 Million for Illegal Crypto Trading – Bitcoin News

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A Belarusian citizen will have to pay a hefty fine for illegally organizing the exchange of cryptocurrencies online. Law enforcement authorities in the country, where certain crypto activities are legal, do not plan to impose other penalties besides the administrative measure. Cryptocurrency Trader Tries to Challenge Fine in Belarusian Court The Supreme Court of the Republic of Belarus has rejected the appeal of a Belarusian against a lower-instance ruling ordering him to pay 2,700,000 Belarusian rubles (around $1 million) to the state for trading digital assets outside the law. The…

Rent the Runway Partners with Amazon to Launch Online Storefront

For Rent the Runway, collaboration with Amazon is a chance to increase its profitability as the company has been facing financial challenges since the pandemic time. Rent the Runway Inc (NASDAQ: RENT), a fashion company that provides women with the ability to rent designer clothing and accessories, has partnered with Amazon.com Inc (NASDAQ: AMZN) to launch a Rent the Runway Amazon Fashion storefront. The online service features a range of fashion merchandise from over 35 brands, including Tory Sport, Rag & Bone, Tibi, Sita Murt, and Kate Spade New York. Notably, the secondhand luxury…

Big Eyes Coin And Tron Are Two Cryptocurrencies With A Positive Growth Trajectory

Place/Date: – January 13th, 2023 at 8:31 am UTC · 4 min read Source: Big Eyes Coin The narrative of cryptocurrencies has taken a dreary turn in 2022, and with more market turndowns comes more doubts about what the future of cryptocurrencies holds for market participants. Amidst this upheaval, we see some crypto tokens showing growth potential. And these coins stand as emblems of hope to hold on to in a struggling market. Tron is a blockchain system that offers a variety of services, including dApp deployment, DeFi features, asset…

In One Week, Lido Dao Rises More Than 55%, Zilliqa and Snowfall Series Win!

Place/Date: – January 13th, 2023 at 8:20 am UTC · 2 min read Source: Snowfall Protocol In the past week, Ethereum staking protocol tokens such as Lido Dao (LDO) and Rocket Pool (RPL) have seen a considerable surge in price – with LDO rising by 177%, RPL by 44% and Stakewise (SWISE) by 125%. This demand was fuelled by rumors that the Ethereum Foundation would soon release an upgrade making ETH staking possible on the proof-of-stake blockchain. The resulting increase in the value of LDO has recently leveled off, but…