Crypto market capitalization dropped 3.5% in the past 24 hours following a decline in U.S. equity markets. Source
Dogecoin and Ether Lead The Crypto Market Pullback as Bulls Take a Breather
Day: January 25, 2023
‘Probably a Good Idea’ – News Bitcoin News
Elon Musk, CEO of Twitter, SpaceX, and Tesla, has given his opinion about the latest reports on the creation of a common currency in Latam, to be initially worked on by Argentina and Brazil. Musk stated that this move would be “probably a good idea,” commenting on the topic on social media. Elon Musk Gives His Take on Latam Common Currency The latest reports that Brazil and Argentina will start to study the issuance of a common currency for Latam have already caused reactions all over the world. Elon Musk,…
Number of New Smart Contracts Falls 60% in 2023
Ethereum prices might be solid, and bulls are looking to drive the coin toward $1,700, but on-chain data points to dropping activity from developers judging from the number of new smart contracts deployed in the first three weeks of January. Number Of Smart Contracts Deployed On Ethereum Falling The number of new smart contracts deployed over the past few weeks, since the beginning of 2023, has fallen by more than half. The number of new smart contracts deployed on January 1, 2023, stood at 139,699. However, a total of 56,370 smart…
Crypto exchange Digital Surge emerges as a rare survivor of FTX fallout
Australian cryptocurrency exchange Digital Surge appears to have narrowly avoided collapse, despite having millions of dollars in digital assets tied up in the now-bankrupt FTX crypto exchange. On Jan. 24 local time, Digital Surge creditors approved a five-year bailout plan, which aims to eventually refund its 22,545 customers who had their digital assets frozen on the platform since Nov. 16, while allowing the exchange to continue operating. The rescue plan was first floated to customers by the exchanges’ directors via email on Dec. 8, the same day the company fell…
Porsche ends ‘low effort’ NFT mint early, Oreo dunks into the Metaverse and more
Porsche criticized for ‘low effort’ NFTs, ends mint early Car manufacturer Porsche had to cut short a nonfungible token (NFT) mint of its famous white 911 model only two days after the public mint started, saying its “holders have spoken.” The Jan. 23 launch was seen by some as a huge flop for Porsche with just 2,040 of the 7,500 NFTs available having been sold at the time of writing. Our holders have spoken. We’re going to cut our supply and stop the mint to move forward with creating the…
Six on-chain metrics suggesting Bitcoin is a ‘generational buying opportunity’
Several on-chain metrics from the Bitcoin (BTC) network are flashing buy signals following this year’s rally. Bitcoin has broken out of its torpor to notch up a 37% gain since the beginning of 2023. However, on-chain data is still signaling it could be a “generational buying opportunity” according to analysts. On Jan. 24, researcher and technical analyst “Game of Trades” identified six on-chain metrics for his 71,000 Twitter followers. The first metric is an accumulation trend score highlighting zones of heavy accumulation in terms of entity size and the number…
DOT Price (Polkadot) Indicators Suggest Strong Case For Fresh Rally
Polkadot’s DOT started a fresh increase from the $5.60 support against the US Dollar. It correcting gains, but indicators suggest high chances of a fresh increase. DOT is holding the ground above the $6.00 and $5.80 levels against the US dollar. The price is trading nicely above the $6.00 support and the 100 simple moving average (4-hours). There is a major bullish trend line forming with support near $6.05 on the 4-hours chart of the DOT/USD pair (data source from Kraken). The pair could start a strong rally once it…
Crypto Regulation Is Like a Flimsy Umbrella in a Monsoon – Op-Ed Bitcoin News
You know what they say, “when life gives you lemons, make lemonade.” But when it comes to protecting your crypto funds on centralized exchanges (CEXes), the old adage should be “when life gives you regulations, make a self-custody wallet.” Self-custody is undoubtedly a better solution for protecting the interests of customers in crypto. Regulation alone is not enough. The following opinion editorial was written by Joseph Collement, General Counsel at Bitcoin.com. Don’t get us wrong, regulation is important. It’s like a flimsy umbrella on a sunny day – better than…
Gala (GALA) Games Connects with Coinbase Wallet, Axie Infinity (AXS) Experiences a Hike in User Activity, while Orbeon Protocol (ORBN) Flaunts 987% Growth
Place/Date: – January 25th, 2023 at 5:16 am UTC · 4 min read Source: Orbeon Protocol A few cryptocurrencies recently gained momentum, and gathered the interest of investors. Among them, the current trends are focused on the increasing popularity of Gala (GALA), Axie Infinity (AXS), and Orbeon Protocol (ORBN). So, let us learn more about each of these tokens. Gala (GALA) Links Up with Coinbase Wallet, Offering a Token Price of $0.046 The Gala (GALA) ecosystem is accessible through the Coinbase platform, which is the biggest crypto exchange in the…
Ethereum Price Drops 6% and Signals Risk of Trend Change Below This Support
Ethereum started a downside correction below $1,600 against the US Dollar. ETH is down over 6% and remains at a risk of a drop below the $1,480 support. Ethereum is showing a few bearish signs below the $1,600 and $1,580 levels. The price is now trading below $1,600 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,620 on the hourly chart of ETH/USD (data feed via Kraken). The pair could recover if it stays above the $1,500 and $1,480 support…