Day: January 17, 2023

Polkadot (DOT) Alliance Fights to Keep Blockchain Safe from Mischief Makers, Cosmos (ATOM) Continues to Thrive as Ethereum Challenger, Snowfall Protocol (SNW) Emerges as Market Leader

Place/Date: – January 17th, 2023 at 5:13 am UTC · 4 min read Source: Snowfall Protocol The world of cryptocurrency is constantly evolving, with new projects and alliances emerging on a regular basis. In recent news, the Polkadot (DOT) Alliance was formed in an effort to protect the blockchain from bad actors, Cosmos (ATOM) has continued to perform well as an Ethereum challenger, and Snowfall Protocol (SNW) has emerged as a market leader. In this article, we will take a closer look at each of these developments and consider their…

Japanese regulators want crypto treated like traditional banks

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Financial regulators in Japan have urged global regulators to treat crypto the same way as they do banking, calling for tougher rules for the sector. According to the deputy director-general of the Financial Services Agency’s Strategy Development and Management Bureau, Mamoru Yanase, crypto needs to be controlled. “If you like to implement effective regulation, you have to do the same as you regulate and supervise traditional institutions,” he said according to a Jan. 17 Bloomberg report. The comments from Japan’s financial watchdog come in the wake of the collapse of FTX…

Ethereum Price Gearing For Lift-Off to $1,800: Rally Isn’t Over Yet

Ethereum gained pace above the $1,500 resistance zone against the US Dollar. ETH is consolidating gains and might aim a fresh rally towards the $1,650 level. Ethereum started a decent increase above the $1,500 and $1,520 resistance levels. The price is now trading above $1,520 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $1,550 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise further unless there is a downside correction below the $1,520 support. Ethereum…

Georgia Prepares to Launch Digital Lari Pilot in First Half of 2023 – Finance Bitcoin News

The central bank of Georgia intends to publish a document detailing the concept of a national digital currency in the coming months. Other participating parties will use it to finalize their proposals for the pilot which the monetary authority plans to initiate in the first half of the year. Financial Authorities in Georgia Gear Up for Digital Currency Trials The National Bank of Georgia (NBG) is going to release a ‘digital lari’ whitepaper, allowing potential partners to fine-tune their proposals for the test phase of the project. A pilot version…

BTC forming bottom akin to 2018 with one key difference: Bloomberg analyst

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Mike McGlone, Bloomberg’s senior commodity strategist believes Bitcoin (BTC) could be developing a  “bottom” in the same way it did prior to 2019’s bull run but said there is a major difference this time around. During a Jan. 16 interview with crypto podcaster Scott Melker, McGlone argued unlike in 2018 when financial institutions such as the Federal Reserve were easing interest rates, this time they’re still tightening along with “every central bank.” “Back then the Fed already started easing and we held the bottom and broke out higher and then…

Bitcoin Price Consolidates Below Resistance and At Risk of Minor Pullback

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Bitcoin price is facing resistance near the $21,500 zone. BTC could correct lower if there is a clear move below the $20,880 support zone. Bitcoin seems to be facing a strong resistance near the $21,450 and $21,500 levels. The price is trading above $20,500 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $20,920 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a downside correction below the $20,880 and $20,750 support levels. Bitcoin…

Crypto is redefining how charities raise funds

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Non-fungible tokens (NFTs), decentralized autonomous organizations (DAOs), and decentralized finance (DeFi) are redefining how charities raise donations and distribute funds to those most in need.  Through ever-evolving crypto and blockchain-related technology, crypto philanthropists told Cointelegraph that they’ve witnessed “new wealth distribution mechanisms” never seen before.  “Philanthropy has traditionally been seen as a high-cost-of-entry, individualistic activity but with web3, collective decision-making bodies like DAOs can use tools that streamline financial coordination and encourage more participation,” explained Omar Antila, Product Lead at Crypto for Charity. “Crypto enables new innovative fundraising strategies, like charitable NFT-drop…