Month: January 2023

These Altcoins Will Be Hit Hardest If DCG And Grayscale Fall

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The pressure on the Digital Currency Group (DCG) and Grayscale continues to mount. The Winklevoss twins have given DCG an ultimatum of January 8th to return the $900 million Gemini Earn customer funds, while the users themselves have filed a class action lawsuit against both companies. In addition, in what is believed to be a tactical decision, Valkyrie Investments and Fir Tree recently got involved in the “Shakespearean drama,” as NewsBTC reported yesterday. Thus, the pressure on DCG CEO Barry Silbert is building up day by day, while he is…

Solana Up 13% Since Yesterday, A Sign Of Brighter Things to Come?

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The touted “Ethereum killer” Solana has been on the down-low since its association with the collapsed exchange FTX. However, it seems as though 2023 has new plans for the struggling ecosystem with its native token SOL up by 13% based on CoinGecko figures, Tuesday. This huge uptick in price led to SOL reclaiming double digits after dipping as long as $7.96 back in December 29.  A Breath Of Fresh Air For Solana After the ecosystem lost most of its value last year, this price pump is a breath of fresh…

Tax attorney breaks down the MicroStrategy Bitcoin sale

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Business intelligence firm MicroStrategy made headlines ahead of New Year’s Eve as the sale of a portion of its Bitcoin (BTC) holdings drew the attention of industry experts and critics. A regulatory filing with the United States Securities and Exchange Commission (SEC) on Dec. 28 detailed the first time the firm sold some of its BTC since its high-profile adoption of the preeminent cryptocurrency as its primary treasury asset. MicroStrategy made waves in the industry in 2021 as it began amassing significant holdings of BTC, with founder Michael Saylor touting…

Returns From Buying Crypto During Downturns Have Been Spectacular

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Bitcoin volatility may return in ‘catch up’ with gold in 2023

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Bitcoin (BTC) volatility is declining on schedule but BTC price action could still “play catch up” with gold this year. The latest data and analysis shows that despite sideways moves in Bitcoin, the largest cryptocurrency is behaving as expected. BTC price volatility follows bear market pattern With traders frustrated by a lack of tangible moves on BTC/USD, volatility is under the microscope at the start of 2023. For analytics resource Ecoinometrics, however, there is nothing to worry about — Bitcoin is becoming more stable with time, and this is a…

DeFi Protocol Sushi to Shutter Lending Product to Focus on DEX

As CoinDesk reported, the Sushi treasury provided for only 18 months of runway calculated from the first week of December, causing a significant deficit in its treasury. Lead developer Jared Gray proposed setting Kanpai, a fee-diversion protocol, to 100% of fees diverted to the treasury multisig for one year at the time, or until new token distribution and reward schemes were implemented. Source

It’s 2023 Already and Here Are Some Wild Bitcoin (BTC) Predictions for This Year

As we enter 2023, market players have been giving some extreme predictions for the BTC price from the $5,000 to $250,000 range. The last year of 2022 witnessed one of the harshest crypto winters in the history of crypto markets. The world’s largest cryptocurrency corrected by nearly 60% the last year and many analysts believe that the bottom is not yet in. Some market experts believe that 2023 would be a pretty volatile year for crypto investors and for Bitcoin (BTC) as well. However, the broader market opinion remains very…

Tesla Delivers 1.31M Vehicles in 2022, Up 40% YoY

Even as Tesla had great results in production and deliveries in 2022, the company missed analysts’ expectations in its Q4 numbers. Many companies, including EV giant Tesla Inc (NASDAQ: TSLA), have released reports on their 2022 performance, showing remarkable feats and losses. The electric vehicle maker recently provided the details of its production in the fourth quarter and deliveries for the recently-concluded year. According to the company, the total deliveries in Q4 2022 were 405,278 vehicles, while the total production during the same quarter was 439,701. Specifically, Tesla said deliveries of its…