Month: January 2023

Monex wants to buy FTX Japan amid bankruptcy proceedings: Report

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FTX Japan, one of the four FTX assets put on sale, caught the eye of Monex Group, an online brokerage firm based in Tokyo.  In an interview with mainstream media outlet Bloomberg, Monex CEO Oki Matsumoto said that they are interested and expressed that it will be a “very good thing” for them if there will be less competition within the local market. Matsumoto also highlighted that the crypto market within Japan has a lot of potential because companies may be looking into investing in digital assets or using nonfungible…

Tencent Shares Hit Multi-Month Highs Atop Regulatory Ease

With the easing of pressure from authorities, Tencent shares may still see additional upshoots when compared to the level it is currently at this time. The shares of Chinese multinational internet giant Tencent Holdings Ltd (HKG: 0700) have seen multi-month highs as the broader tech industry retraced their plunging valuation with improving regulatory measures from Beijing. As reported by Bloomberg, Tencent shares have now climbed by nearly double the price points back in October 2022. This growth comes despite the 0.32% slump in the price of the company’s shares to…

Decentraland (MANA) Rises 70% on Back of 7-Day Surge

Mana, the native token of 3D virtual world platform Decentraland, is on a sustained surge since December 30th 2022.  Decentraland native token MANA recently experienced a 70% surge within the past week amid a strong performance by metaverse tokens to begin the year. MANA price hit a base of $0.284 at the end of last December. However, the metaverse coin has experienced an upswing in 14 of the subsequent 16 days since then. In addition, although the token has eased some of its intraday gains, MANA’s price is still up 22%…

Bitcoin Miners Show Signs Of Dumping, Bad For Rally?

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On-chain data shows Bitcoin miners could be dumping right now, a sign that could provide an impedance to the rally. Bitcoin Miners’ Position Index Has Shot Up Recently As pointed out by an analyst in a CryptoQuant post, miners may be putting selling pressure on the market currently. The relevant indicator here is the “Miners’ Position Index” (MPI), which measures the ratio between the miner outflows and the 365-day moving average of the same. The “miner outflows” refer to the total amount of Bitcoin that all these chain validators are…

Bradesco, One of Brazil’s Largest Banks, Launches Tokenized Credit Notes in Blockchain Pilot – Finance Bitcoin News

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Bradesco, one of the largest banks in Brazil and the third biggest in all of Latam, has entered the cryptocurrency world by issuing its first tokenized credit notes. The operation, carried out in partnership with Bolsa OTC, tokenized almost $2 million in bank credit notes, which were also distributed by Bradesco. Bradesco Launches Asset Tokenization Program Bradesco, one of the biggest banks in Brazil and Latam, has entered the crypto era, being one of the first institutions that harness blockchain tech in its operations in Brazil. The bank announced on…

Community split between capped supply and deflationary model

Bitcoin (BTC) and Ether (ETH), the top two cryptocurrencies by market capitalization have always been pitted against each other. With the start of the new year, the first debate has surfaced comparing BTC’s capped supply of 21 million and ETH’s deflationary supply and which of the two qualifies as more sound money. An Ethereum-focused Twitter handle called ‘ultra sound money’ compared the issuance supply of both crypto and suggested that “if capped-supply BTC is sound then decreasing-supply ETH is ultrasound.” if capped-supply BTC is sound decreasing-supply ETH is ultra sound…

Didi Gets Greenlight to Relaunch in China after 18-Month Suspension

Before the relaunch of user registration, existing users of the Didi app used it as long as they had it on their phones. After an 18-month suspension in China, Didi finally got approval to relaunch its app on Monday, 16th January 2023. The Chinese authorities authorized the country’s app stores to delist Didi in July 2021. The company, which offers multiple app-based services such as food delivery, ride-hailing, and more, was faced with allegations of illegally collecting user data. The suspension came after the company raised about $4 billion following…

Bitcoin could see $25K by March 2023 as US dollar prints ‘death cross’ — Analysis

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Bitcoin (BTC) shows the potential of stretching its ongoing price recovery to $25,000 by March, based on a mix of bullish technical and macro indicators. Bitcoin price exits descending channel range First, Bitcoin’s potential to hit $25,000 comes from its exit from a prevailing descending channel range. A bull run or bull trap? — Cointelegraph (@Cointelegraph) January 16, 2023 Notably, BTC’s price broke out of the range late last week, accompanying a rise in its trading volumes. The cryptocurrency’s move upside also pushed the price above its resistance confluence, comprising…

Bulgarian Police Denies Any Political Motives into Latest Nexo Investigation

Prosecutor General spokesperson for Bulgarian police denied any political agenda behind the recent raids on Nexo’s office in Bulgaria. Last week, the Bulgarian police raided Nexo’s office in a probe over alleged tax evasion and money laundering. The news about the Nexo investigation comes within a month of its exiting the US market in December 2022. Nexo Investigation Siika Mileva, a spokesperson for Bulgaria’s chief prosecutors, however, has denied any political motivation behind the probe against crypto lending firm Nexo. Mileva’s comments came in response to the accusations that the…