Month: January 2023

Bitcoin In Danger Of Another Selloff, This Metric Suggests

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A Bitcoin on-chain indicator is currently forming a pattern that has previously led to significant selloffs of the cryptocurrency. Bitcoin 100-Day SMA Supply Adjusted Dormancy Has Rapidly Gone Up As pointed out by an analyst in a CryptoQuant post, the selloff could potentially be even stronger than the one seen in November 2018. A relevant concept here is of a “coin day,” which is the amount of 1 BTC accumulated after sitting still on the chain for 1 day. Thus, when a token stays dormant for a certain number of…

BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, AVAX

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The United States equities markets are on track to finish the week in the red but that has not resulted in a deeper loss for Bitcoin (BTC). The news of cryptocurrency lender Genesis filing for Chapter 11 bankruptcy also did not have any meaningful impact on Bitcoin’s price. This shows that the selling pressure could be reducing. However, trading firm QCP Capital warned in the latest edition of its regular markets newsletter that the current recovery in Bitcoin was only a bear market relief rally. They anticipate this recovery to…

GameFi needs a wider choice of products to take off, says Animoca Brands CEO

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The lack of a wide choice of high-quality products has so far prevented crypto gaming from gaining traction among mainstream users, according to Robby Yung, CEO of Animoca Brands.  GameFi, or blockchain-backed gaming — one of the newest, most promising crypto sectors — allows gamers to earn monetary rewards and take ownership of items within games. Despite the sector’s enormous potential, the number of products available is still not enough to attract mainstream users, Yung said during Cointelegraph Research‘s recent panel discussion on venture capital investing. Drawing an example from…

Coindesk Up for Sale? Investors Circle Crypto News Publication Amidst Genesis Bankruptcy – Bitcoin News

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According to various reports, investors are reportedly interested in purchasing Coindesk, a cryptocurrency news publication. On Jan. 18, Wang Feng, founder of China-based news publication Marsbit, announced his intentions to purchase Coindesk along with other members of the crypto industry. This news follows a report from Semafor at the end of November 2022 stating that Coindesk had received takeover solicitations from several investors. Coindesk’s Alleged Asking Price: $200 Million or More as Charles Hoskinson and Marsbit Express Interest in Purchase Investors are reportedly considering purchasing the cryptocurrency news publication Coindesk…

Shiba Inu Is Up 4% As Lead Dev Teases Beta Launch Date

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The second most popular meme coin on the crypto market, Shiba Inu (SHIB), is about to launch its eagerly awaited layer 2 scaling solution Shibarium. While lead developer Shytoshi Kusama has repeatedly said in recent weeks that the launch date is not yet set but will be “soon,” he may now have leaked the beta launch date himself wrapped in a word puzzle. He revealed the decisive hint in his Twitter bio, where he writes: Tending the Pine Tree of Life. Quickly learning to play the flute before putting Shibarium…

Fairfax County, Virginia, Pension Funds Exposed to Genesis Bankruptcy

The Fairfax County Police Officers Retirement System, which is led by Chief Investment Officer Katherine Molnar and which was managing about $1.8 billion as of last summer, has invested in the crypto industry since 2019 – a notable and extremely rare step for pension funds. Prior investments have included a $50 million commitment in Morgan Creek Capital’s blockchain fund. Source BankruptcyCountyExposedFairfaxFundsGenesisPensionVirginia CryptoX Portal

debtors face ‘assault by Twitter’ stemming from Sam Bankman-Fried

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James Bromley, one of the lawyers representing debtors in FTX’s bankruptcy case, has criticized social media activity against his law firm promulgated by posts from former CEO Sam Bankman-Fried. In a Jan. 20 hearing in the District of Delaware, lawyers spoke on motions dealing with potential conflicts of interest between Sullivan & Cromwell, the law firm tasked with the investigation of FTX’s bankruptcy, and the crypto exchange. Bromley, a partner at Sullivan & Cromwell, pushed back against the narrative that the law firm would be unable to act as a…