Month: January 2023

Masa Finance launches soulbound Web3 identity protocol for Ethereum, Celo

Masa Finance has launched the first soulbound identity protocol for the Ethereum mainnet, according to a Jan. 17 press release shared with Cointelegraph. The protocol will allow for standardized soulbound tokens to be minted on Ethereum for Know Your Customer verification, credit scores and other use cases. Soulbound tokens are tokens that cannot be transferred from one wallet to another. The concept was popularized via a blog post from Vitalik Buterin, who argued that these tokens could be used to signify governance rights for decentralized finance (DeFi) protocols or to…

I’ll Take Salary in CBDC

โ€œTwo weeks ago, I saw a pilot of the electronic e-hyrvnia in Ukraine,โ€ he said, speaking through an interpreter, of plans to issue a CBDC in cooperation with crypto company Stellar. โ€œI plan on becoming the first test user of the electronic hryvnia and I plan to receive on receiving my salary in e-hryvnia.โ€ Source

Next For Shiba Inu As Price Remains Stuck Below $0.000011?

Shiba Inu has substantially recovered over the last week; it surged over 20% in the same timeframe. Over the last 24 hours, SHIB has appreciated by 2.9%, but despite the rise in value, the coin has remained stuck below the $0.000011 mark. The coin broke above its stern resistance mark of $0.000010, which had not been breached for the past two months. SHIB was trading within an ascending parallel chain, which showed bullishness; however, the coin was currently outside the ascending trendline. Related Reading: Myth Buster: Ethereum Shanghai Hard Fork…

Bitcoin on-chain and technical data begin to suggest that the BTC price bottom is in

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Bitcoinโ€™s (BTC) price has followed a four-year cycle with consecutive bull and bear trends occuring in somewhat measurable intervals. A closer look at Bitcoin’s long-term price action reveals that the run-up to the top and bottom of the previous cycles look remarkably similar. Whatโ€™s more interesting is that the 2020 to to2021 cycle shows signs of following the same pattern. Independent market analyst, HornHarris, found that the period between the bottom-to-top and top-to-bottom has been the same since 2015, 152 weeks and 52 weeks, respectively. Even in 2013, the bear…

CBDCs Are the Future of Money, IBM Exec Says

While many CBDC pilot projects are still in a development phases, Nagarajan said payments will eventually be made with CBDCs. In the meantime, stablecoins, which are a form of cryptocurrency pegged to real-world assets such as gold or the U.S. dollar, are working as โ€œstopgaps until CBDCS are available in the market.โ€ Source

71% of Total Value Locked Evaporates in 12 Months โ€“ Defi Bitcoin News

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Decentralized finance (defi) has continued to remain deeply ingrained in the cryptocurrency economy as the ecosystem provides users with a non-custodial way to exchange digital assets, lend cryptocurrencies, issue stablecoins, and ways to profit from arbitrage. In the lending sector of defi, a lot has changed during the last 12 months as lending applications like Terraโ€™s Anchor Protocol bit the dust, and 71.95% of the total value locked in defi lending protocols evaporated. From $37 Billion to $10 Billion: The Top Five Defi Lenders Then and Now Last year around…

Solana (SOL) Continues To Shine With 43% Gains In Last Week

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Solana is enjoying a positive start to 2023 after spending most of 2022 in decline due to the crypto winter. Also, SOLโ€™s exposure to FTX caused its price to decline rapidly following the FTX saga in November 2022. SOL has also been a beneficiary of the crypto market upturn as it continues its climb back to the top. Although it is still off its all-time highย  (ATH) value, it has shown positive signs in 2023. What Is Driving The Solana Price Increase?ย  Solana has launched a series of innovative projects…

Bitcoin has now recovered all its losses since FTX collapsed

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A Bitcoin logo inside a BitBase cryptocurrency exchange in Barcelona, Spain, on Monday, May 16, 2022. Angel Garcia | Bloomberg | Getty Images Bitcoin has held steady above $21,000 for the last two days, bringing it back above the price it was when Sam Bankman-Fried’s crypto exchange, FTX, began its slide toward bankruptcy. Since Monday, Bitcoin has held largely steady above $21,000, well above its Nov. 2 price of $20,283. The price of bitcoin has jumped over 22% in the last seven days, according to data from CoinMarketCap. Bitcoin fell…

Price analysis 1/17: SPX, DXY, BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT

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Bitcoinโ€™s chart shows a tug-of-war between bulls and bears, and this is having a slight impact on the upward price action of most altcoins. Risk assets have started the new year on a strong note. The S&P 500 (SPX) and the Nasdaq closed in the positive for the second successive week and also notched their best weekly performance since November.ย  Bitcoin (BTC) led the recovery in the crypto markets with a sharp 21% rally last week. That sent the Bitcoin Fear and Greed Index into the neutral territory of 52…