“One of the biggest signals showing the lack of participation is the drop in volatility and liquidity in the market,” the report stated. “On October 22, the annualized 30-day volatility of BTC dropped to 26.6% – the lowest figure since July 2020, reflecting the risk averse sentiment in the market.” Source
The joint warning statement by United States regulatory agencies is in line with Biden’s directive on the healthy adoption of blockchain technology and digital assets. Top United States regulatory agencies – including the Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) – have issued a joint warning statement on related crypto assets risks to financial institutions. According to the announcement, the events in the crypto market for the past year have highlighted…
Brad Garlinghouse believes it is a good thing that the US would not be starting from scratch in its pursuit of regulatory clarity. Ripple CEO Brad Garlinghouse has said he is fairly optimistic about the United States crypto industry gaining regulatory clarity this year. He shared his thoughts via a series of Twitter posts on the first day of the 118th Congress. Ripple CEO Says Current Bills Give Hope In his commentaries, Garlinghouse noted that it is a good thing that the US would not be starting from scratch in…
The year 2023 is starting off better for Bitcoin and the broader crypto market than last year ended. Even though most crypto prices are still trading in a very depressed, narrow range, BTC is at least showing a year-to-date performance of 1.55% and Ethereum of 4.5%. However, as QCP Capital writes in its latest market analysis, there are early signs that should caution crypto investors. While the gold price is currently performing extremely strongly, the trading firm raises the question of whether this will continue if the expected wave five…
Optimism (OP) has opened the year on an optimistic note as it enjoys a bull run. On the flip side, it has suffered sluggishness in terms of total value locked (TVL). Here’s a quick snapshot of Optimism: OP price spikes by 5.76% OP down in terms of TVL; now only $500 million Users save as much as 99.4% on ETH Arbitrum is seen to have blazed past the other leading Layer 2 blockchains including Optimism and Polygon when it comes to TVL. Regardless, the former remains unfazed…
The Lightning Bitcoin ATMs help to process transactions faster and solve the problem of batching funds for multiple transactions. In a recent development, the Australian city of Coolangatta announced the launch of its first Bitcoin ATM integrated with Lightning Network capabilities. Lightning Network is a Layer-2 scalability solution for Bitcoin and seeks to provide faster transactions at even reduced costs. The new Bitcoin ATM in Coolangatta has been installed at The Strand shopping center and is available for public use. Bitcoin Lightning ATMs will work similarly to normal Bitcoin ATMs…
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Along with the Ethereum Trust, several other Grayscale products are trading at steep discounts recently as parent firm DCG is grappling with liquidity issues. The shares of the Grayscale Ethereum Trust (ETHE) have been on a steep decline and have dropped by more than 90% since its all-time high in 2019. Currently, the Grayscale Ethereum Trust has been trading at a massive 60$ discount to its underlying asset value. Grayscale Ethereum Trust (ETHE) Managed by Grayscale Capital, ETHE allow investors to gain exposure to Ethereum without investing in the underlying…
The timing of the sudden change has been met with disapproval from some residents who had recently paid for their yearly license in full. Dubai has announced that it is scrapping its 30% tax on alcohol sales for the rest of 2023. This is the municipality’s latest step towards strengthening the tourism sector and attracting foreign residents through policy changes. “Dubai Municipality has temporarily stopped collecting the 30% fee from alcoholic beverage companies for a period of one year from the beginning of 01/01/2023 to the end of 12/31/2023. The…
Bonk, a Shiba Inu-themed token issued on Dec. 25, has returned some 2,220% to traders in the past week, with a 150% rise in the past 24 hours alone. The token was airdropped to Solana NFT communities and creators which led to quick hype and trading volumes for the young token, as CoinDesk reported Tuesday. Source