Day: January 18, 2023

Bitcoin Price Erases Entire FTX-Related Decline in Latest Surge

A check of traditional markets finds the 10-year U.S. Treasury yield down a whopping 12 basis points to 3.38%, its lowest since mid-September, and well below the current Fed Funds rate target of 4.25-4.5%. This sort of “inversion” has typically been an excellent forecaster of a recession, or at least a sizable economic slowdown. Should that come to pass, it would surely mean easier monetary policy than currently forecast, a possible boon to risk assets, including bitcoin. Source

NFT Collection NimTeens Explores Just How Fast the NFT Space Moves

“The Web3 and NFT space has changed dramatically in the two years since we released NimBuds,” said Brinkman. “Art Blocks has grown into one of the most respected and profitable projects in the ecosystem, generative characters took off and became the most notable style of the space, and generative art has become appreciated in auction houses and museums.” Source

Aave Price Surges As V3 Cloud Upgrade Draws Near

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Amid the ongoing rally in DeFi TVL, we’ve seen positive news and innovation popping up from the ecosystem. As the Aave protocol V3 cloud upgrade draws near, its native token, Aave, has skyrocketed since the beginning of this year, reaching higher highs for the first time in the last few months.  Aave is an open-source liquidity protocol and its upcoming V3 cloud launch is just one of the protocols pending plans yet to be initiated. An Aave supporter with the Twitter handle @0x4Graham disclosed the upcoming upgrade launch.  According to…

CBDCs need to find a ‘real problem’ to solve, says SARB governor

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South African Reserve Bank (SARB) governor Lesetja Kganyago highlighted issues surrounding the introduction of central bank digital currencies (CBDCs) at the World Economic Forum (WEF) 2023, held in Davos, Switzerland.  In a WEF 2023 panel discussion dubbed “In the Face of Fragility: Central Bank Digital Currencies” Kganyago voiced his opinions on CBDCs and questioned if there’s a real problem solved by this new technology. Kganyago said: “Is this a solution looking for a problem or do we have some real problem that we are trying to solve?” The central bank…

Fintech Firm Arch Starts Crypto Lending Product, Raises $2.75M

“Today, nearly 50% of young investors hold cryptocurrency, and over 80% have stated they are interested in investing in alternative assets,” said Patel. “With Arch, individuals can use crypto assets as collateral for loans, granting the ability to access capital to make other investments or make other large purchases to accelerate their financial journeys.” Source

Rocket Pool (RPL) Surged 55% after Listing on Binance

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Trackers on January 18 show that the native token of Rocket Pool, RPL, rallied 55% and is among one of the top performers in the top 100 coins by market capitalization. Rocket Pool is Rallying after Binance Listing The surge coincides with RPL’s listing on Binance, the world’s largest cryptocurrency exchange by trading volume. The token is paired against USDT, the stablecoin issued by Tether Holdings, which is also the most liquid in crypto circles, and BUSD. However, the surge registered earlier today has since been reversed. Data showed that…

BTC Hits Highest Point Since September – Market Updates Bitcoin News

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Bitcoin rose to its highest level since September, as markets prepared for the release of U.S. retail sales data. This afternoon’s economic release is expected to show a cooling off of sales, as consumers prepare for a recession. Ethereum also rose on the news, as it continued to hover close to $1,600. Bitcoin Bitcoin (BTC) rose above a key resistance level at $21,400 in today’s session, hitting a fresh multi-month high in the process. Following a low of $21,120.16, BTC/USD raced to a peak of $21,438.66 in the early hours…

SHIB price preps for 75% boom as Shiba Inu teases L2 blockchain launch

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Shiba Inu is hoping to become more than just a Dogecoin-inspired meme cryptocurrency as it comes closer to launching its layer-2 network called Shibarium. Meanwhile, the SHIB token has emerged as one of the best-performers so far in 2023. SHIB price jumps 60% in 2023 SHIB’s price has rallied nearly 60% year-to-date (YTD) to $0.00001294, its highest since early November 2022. SHIB/USDT daily price chart. Source: TradingView The gains started appearing mainly due to favorable macro conditions that prompted similar rallies elsewhere in the crypto market. Nonetheless, the Shiba Inu price rally picked…