Day: January 24, 2023

India Takes the Lead on Global Crypto Policy as G-20 President

The presidency comes after India announced steep crypto taxes on Feb. 1, 2022, that were blasted by crypto companies operating in the country. As a result, Indians moved more than $3.8 billion in trading volume from local to international crypto exchanges between February, when the taxes were announced, and October 2022, after the new taxes were implemented, according to the Esya Centre, a New Delhi-based technology policy think tank. Source

Money Leaves ADA, SOL To Small Cap Altcoins, Here’s Where It’s Headed

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With the crypto market rally, altcoins have benefitted just as much as bitcoin. Digital assets across the space have been able to return to their pre-FTX collapse levels, signaling the start of a bull run. However, as the market begins to settle into this new normal, investors are moving gains around from larger cap assets to take advantage of possible price movement in smaller altcoins. Cycling Out Money To Small Cap Altcoins A recent report from on-chain data aggregation website Santiment shows that investors may be moving money out of…

Why is crypto pumping? Watch The Market Report live

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This week on The Market Report, the resident experts at Cointelegraph discuss the real reasons behind the recent price pump in the market. Can this lead to a $25,000 Bitcoin (BTC) and beyond, or will some unforeseen event ruin the party? Tune in to find out. We start off this week’s show with the latest news in the markets: Stablecoin data points to ‘healthy appetite’ from bulls and possible Bitcoin rally to $25K Bitcoin rallied 11% between Jan. 20 and Jan. 21, reaching the $23,000 level and shattering bears’ expectations…

Bullish Token Unlocks Buck Bear Market Trend in Spur to Altcoin Season

There is also a sophisticated trading element to the value increase. Historically, in the cases of the IMX and APE tokens late last year, token unlocks caused a period of downside price action. This prompted traders to short the tokens before the event, but based on the recent flurry of short liquidations on AXS, it appears this trade has become overcrowded, leaving it vulnerable to the other side due to a lack of liquidity. Source

El Salvador Pays Back $800M Maturing Bond, President Nayib Bukele Says

“In the past year, almost every legacy international news outlet said that because of our ‘Bitcoin bet,’ El Salvador was going to default on its debt by January 2023 (since we had an 800 million dollar bond maturing today),” Bukele said. “Literally hundreds of articles,” he added, before posting a number of them. Source 800MBondBukeleMaturingNayibPaysPresidentSalvador CryptoX Portal

AVAX Hits Multi-Month Peak, as MATIC Jumps to 1-Week High – Market Updates Bitcoin News

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Avalanche moved to a multi-month high on Jan. 24, after reports that the number of bitcoin on its network rose to 5,493. The news saw the token surge by nearly 5% today, rising for a third straight session in the process. Polygon also moved higher on Tuesday, hitting a one-week high. Avalanche (AVAX) Avalanche (AVAX) rose to a multi-month high on Tuesday, as prices rallied for a third consecutive session against a backdrop of bullish news. Following a low of $17.43 to start the week, AVAX/USD moved to an intraday…

Bitcoin halts volatility at $23K as BTC hodlers see mass return to profit

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Bitcoin (BTC) traded sideways at the Jan. 24 Wall Street open with analysts at a loss over where price would go next. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price holds below key resistance Data from Cointelegraph Markets Pro and TradingView tracked a day of consolidation for BTC/USD, which continued to linger near $23,000. The pair saw little reaction to the start of trading, including technical problems at the New York Stock Exchange, while United States macroeconomic data also failed to change the status quo. Bitcoin thus lacked direction…

Twitch Co-Founder’s Gaming NFT Marketplace Expands to Polygon Network

The company said in a press release that expanding into Polygon will help it “focus on user acquisition and provide the blockchain tooling and financial infrastructure necessary to spur successful game development.” Its F Studio product suite will now offer a Polygon-based launchpad, marketplace, tournaments, developer SDK, game launcher and sign-in with Fractal service. Source

Solana Network On Hyperdrive With Marked Growth On TVL, NFT Trade Volume

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Solana (SOL) is on hyperdrive as the network quickly gains momentum in terms of liquidity which are seen at more than 300% as of press time. Following a sweeping price decline, Solana has turned the tide with metrics with flying colors. Here’s a quick glance at SOL performance of late: SOL metrics and trustworthiness score looking positive Solana’s TVL seen to jump higher Solana rolls out Saga Pass Cards There is sizeable growth seen both in terms of NFT with the rollout of the Saga Pass Cards and market cap.…