Day: January 24, 2023

Bitcoin Bull Trap Or Bull Run? This Is What Glassnode Says

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The Bitcoin price is up 40% year-to-date (YTD) and has recaptured the $23,000 level. However, with ongoing concerns around DCG and Grayscale as well as macroeconomic uncertainties, many investors doubt the sustainability of the recent price rally. With higher prices, motivation among investors may be increasing to use the current price level to exit and gain liquidity, especially after the long and painful bear market in 2022, as Glassnode discusses in its report. The renowned on-chain analysis firm examines in its newest research whether Bitcoin’s recent bounce above the price…

Bridged Bitcoin on Avalanche Surpasses Value Locked on the Lightning Network – Bitcoin News

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Members of the crypto community have been discussing the number of bitcoins that have been bridged over to the Avalanche network, which is now larger than the total value locked on the Lightning Network. At the time of writing, there are 5,493 bitcoins circulating on the Avalanche blockchain, while the Lightning Network holds 5,248 bitcoins. Number of Bitcoin Bridged to Avalanche Climbs Past Lightning Network Capacity This past week digital currency advocates have been discussing the rising number of bitcoin (BTC) bridged over to the Avalanche (AVAX) network. Seven days…

British authorities split on banning sale of crypto investment products

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The policy decision-makers in the United Kingdom got split on whether the sale, marketing, and distribution of derivatives and exchange-traded notes (ETNs) tied with cryptocurrencies should be prohibited when it comes to retail investors. The Regulatory Policy Committee believes the measure, adopted in 2021, to be unjustified under current circumstances.  The prohibition, enacted by the chief British regulator, the Financial Conduct Authority (FCA), came into force in January 2021. Since that time, the companies could no longer offer cryptocurrency derivatives products such as futures, options and exchange-traded notes, or ETNs,…

SEC commissioner reminds of ‘the point of crypto’ as market aims for recovery

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Hester Peirce, a commissioner on the Securities and Exchange Commission (SEC), says that after a terrible year, industry players need to remember what crypto is really about. In a speech at the Digital Assets at Duke conference, Peirce laid down some lessons to be learned from the issues that the crypto industry had to face last year. According to the commissioner, 2022 was a “terrible, horrible, no good, very bad year” for both the crypto space and regulators. However, Peirce believed there are valuable takeaways from the series of problems…

Whales Bag 500 Million Dogecoin

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Meme coin forerunner, Dogecoin, opens the week with a new rally amid Robinhood’s support. Reports reveal that several whales jumped on the positive market sentiment to accumulate massive amounts of DOGE, triggering a 5% rally in the last day. According to WhaleAlert, Whales packed more than 500 million Dogecoin over the past two days. The tracker revealed that the largest holder of Dogecoin also partook in the accumulation and bagged almost 165 million DOGE coins. In addition, a top 20 whale also transferred 150 million Dogecoin tokens worth more than…

Microsoft Layoffs Reportedly Hit Key VR and Metaverse Teams – Metaverse Bitcoin News

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The latest round of layoffs at Microsoft, which announced it will cut 10,000 jobs this year, has hit key teams for its VR (virtual reality) and metaverse efforts, according to reports. The company will close two projects in these areas, Altspacevr and the Mixed Reality Tool Kit, potentially affecting the progress of Microsoft in these areas. Microsoft VR and Metaverse Teams Hit by Layoffs The latest round of layoffs announced by Microsoft on Jan. 18, has reportedly hit metaverse and VR (virtual reality) initiatives of the company, potentially affecting progress…

Swiss Bank Cité Gestion Becomes First Private Bank to Tokenize Its Own Shares

Tokenization of Cité Gestion’s shares was carried out in accordance with standards established by the Capital Markets and Technology Association (CMTA), a Geneva based not-for-profit organization, the bank said in the statement. “Taurus and the application of the CMTA standards ensure that an adequate risk management framework is at the heart of the process,” said Christophe Utelli, Deputy CEO of Cité Gestion. Source