Month: January 2023

Ethereum Price Gearing For Lift-Off to $1,800: Rally Isn’t Over Yet

Ethereum gained pace above the $1,500 resistance zone against the US Dollar. ETH is consolidating gains and might aim a fresh rally towards the $1,650 level. Ethereum started a decent increase above the $1,500 and $1,520 resistance levels. The price is now trading above $1,520 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $1,550 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise further unless there is a downside correction below the $1,520 support. Ethereum…

Georgia Prepares to Launch Digital Lari Pilot in First Half of 2023 – Finance Bitcoin News

The central bank of Georgia intends to publish a document detailing the concept of a national digital currency in the coming months. Other participating parties will use it to finalize their proposals for the pilot which the monetary authority plans to initiate in the first half of the year. Financial Authorities in Georgia Gear Up for Digital Currency Trials The National Bank of Georgia (NBG) is going to release a ‘digital lari’ whitepaper, allowing potential partners to fine-tune their proposals for the test phase of the project. A pilot version…

BTC forming bottom akin to 2018 with one key difference: Bloomberg analyst

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Mike McGlone, Bloomberg’s senior commodity strategist believes Bitcoin (BTC) could be developing a  “bottom” in the same way it did prior to 2019’s bull run but said there is a major difference this time around. During a Jan. 16 interview with crypto podcaster Scott Melker, McGlone argued unlike in 2018 when financial institutions such as the Federal Reserve were easing interest rates, this time they’re still tightening along with “every central bank.” “Back then the Fed already started easing and we held the bottom and broke out higher and then…

Bitcoin Price Consolidates Below Resistance and At Risk of Minor Pullback

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Bitcoin price is facing resistance near the $21,500 zone. BTC could correct lower if there is a clear move below the $20,880 support zone. Bitcoin seems to be facing a strong resistance near the $21,450 and $21,500 levels. The price is trading above $20,500 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $20,920 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a downside correction below the $20,880 and $20,750 support levels. Bitcoin…

Crypto is redefining how charities raise funds

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Non-fungible tokens (NFTs), decentralized autonomous organizations (DAOs), and decentralized finance (DeFi) are redefining how charities raise donations and distribute funds to those most in need.  Through ever-evolving crypto and blockchain-related technology, crypto philanthropists told Cointelegraph that they’ve witnessed “new wealth distribution mechanisms” never seen before.  “Philanthropy has traditionally been seen as a high-cost-of-entry, individualistic activity but with web3, collective decision-making bodies like DAOs can use tools that streamline financial coordination and encourage more participation,” explained Omar Antila, Product Lead at Crypto for Charity. “Crypto enables new innovative fundraising strategies, like charitable NFT-drop…

Authorities in Germany, Bulgaria, Serbia, Cyprus Take Down Crypto Scam Network – Regulation Bitcoin News

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Authorities in Germany, Bulgaria, Serbia, and Cyprus have taken down a cryptocurrency scam network in collaboration with Europol. “The suspects used advertisements on social networks to lure victims to websites covertly operated by the criminals, which offered seemingly exceptional investment opportunities in cryptocurrencies,” Europol detailed. Authorities Cracking Down on Cryptocurrency Scams Europol announced Thursday that authorities from Bulgaria, Serbia, Cyprus, and Germany, in collaboration with Europol and Eurojust, have taken down “call centers selling fake crypto.” The criminal network, operating through call centers, “lured victims into investing large amounts of…

SushiSwap’s new DEX aggregator will ‘10x our market share’ — Head Chef

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Just a month after warning of a “significant deficit” in its treasury, the CEO of decentralized exchange (DEX) SushiSwap has shared several planned updates to the platform, which it says is intended to “10x” its market share in 2023. Sushi CEO Jared Grey laid out the plans for the decentralized finance (DeFi) platform in a Jan. 16 Medium post, saying it will focus on its product stack in line with prior plans to make Sushi more sustainable. “Sushi commands ~2% of the AMM market & 0% of the aggregation market.…