Month: January 2023

Ethereum Price Turns Green But Decreasing Volumes Might Be Concerning

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Ethereum extended its increase above the $1,300 resistance zone against the US Dollar. ETH tested the $1,350 zone and is currently correcting lower. Ethereum remained in a positive zone and climbed above the $1,300 and $1,320 resistance levels. The price is now trading above $1,300 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $1,292 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise further if it stays above the $1,280 support zone. Ethereum Price Faces…

FTX subsidiaries on auction block including LedgerX attract 117 interested buyers

As many as 117 parties have expressed interest in buying up one or more of FTX’s independently operated subsidiaries including FTX Japan, FTX Europe, LedgerX and Embed.  In a Jan. 8 court filing made by Kevin Cofsky, a partner at Perella Weinberg, the investment bank representing FTX US and affiliated firms. Cofsky stated: “Approximately 117 parties, including various financial and strategic counterparties globally, have expressed interest to the Debtors in a potential purchase of one or more of the Businesses.” He added that the debtors have entered into 59 confidentiality…

Decentralization meant sanctions couldn’t ‘pull the plug’ on Tornado Cash: Chainalysis

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Sanctions aimed at decentralized crypto mixer Tornado Cash weren’t able to completely cut off its usage, though it has hamstrung the service, a blockchain analytics firm has shared. On Aug. 8, the Office of Foreign Assets Control (OFAC) announced sanctions against the crypto mixer for its role in the laundering of crime proceeds. In a report published on Jan. 9, Chainalysis said the sanctions did have some effect, causing total inflows to the mixer to drop by 68% in the 30 days after the sanctions came into force. 1/ The…

CoinMarketCap-led token airdrops ‘infected by fraud,’ crypto project claims

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Two crypto projects have cried foul play over promotional airdrops conducted by CoinMarketCap (CMC) on their behalf, which they allege was “gamed” for the benefit of a small group of exploiters. These promotional airdrops — designed to be distributed to thousands of wallets to raise awareness of a crypto project — ended with the tokens funneling to just a handful of wallets, suggesting potential manipulation of the system. SATT token drop Blockchain advertising solution SaTT alleged to Cointelegraph that a promotional airdrop it paid CMC to conduct in Dec. 2022…

How Web2 and Web3 Tackled the Metaverse at CES 2023

Sabnis imagined fans at “every concert, [they] scan the QR code, it acts as a wallet, NFT drops are there, there’s a chance for seat upgrades.” These wallets could sync with where you are in a venue in real time and expand the experience with augmented reality, for example. In the end, whether it’s Web2 or Web3, Sabnis concluded that “entertaining things are the things that matter most in people’s lives.” Source

Bitcoin Price Struggles Above $17K, Why BTC Is Still In Bullish Zone

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Bitcoin price extended its rise and traded towards $17,400. BTC is correcting gains, but it remains well supported near the $17,000 zone. Bitcoin extended its increase above the $17,000 and $17,200 resistance levels. The price is trading above $17,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $16,880 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rise further if it stays above the $17,000 support and the trend line. Bitcoin Price Extends Increase…

Hong Kong Reaffirms Commitment to Become Regional Crypto Hub – Regulation Bitcoin News

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Hong Kong has reaffirmed its commitment to become a regional crypto hub in following the collapse of cryptocurrency exchange FTX. “As certain crypto exchanges collapsed one after another, Hong Kong became a quality standing point for digital asset corporates,” said a top government official. Hong Kong Aims to Become Regional Crypto Hub Hong Kong Financial Secretary Paul Chan Mo-po reaffirmed the city’s crypto commitment at a web3 summit in Cyberport Monday. Emphasizing that Hong Kong remains committed to becoming a regional crypto hub, the financial secretary described: As certain crypto…

Altcoin Short Squeeze Brings Green Shoots to Dormant Crypto

According to Bloomberg, officials with the U.S. Department of Justice’s Eastern District of New York and the U.S. Securities and Exchange Commission are examining transfers between Digital Currency Group and the conglomerate’s Genesis subsidiary. Genesis and CoinDesk are both owned by the parent company Digital Currency Group. Bernstein’s Gautam Chhugani weighed in. Meanwhile, bitcoin (BTC) decisively pushed past $17,000, appearing to break out of a three-week range. Plus, CoinDesk Research Associate George Kaloudis and Galaxy Digital Head of Firmwide Research Alex Thorn shared their 2022 crypto year in review research.…