Prosecutors are investigating transactions related to a specific person or entity moving the price of the coin to make a profit, they said. They plan to examine transaction details at other exchanges where the coin is listed, according to the report. Source
According to on-chain data from CryptoQuant, a blockchain analytics platform, the Bitcoin supply in loss with the seven-day moving average stands at 32%, a nine-month low. This is the lowest level since April 2022, when the Bitcoin price was changing hands at the $40,000 range. Bitcoin Supply In Loss At 32% The Bitcoin supply in loss is a metric that measures the absolute number of coins presently in the loss-making territory. This data compares the price at which the coin in consideration was last moved and the spot rate. If the price…
A few sources stated that the initiative would likely be about getting Amazon customers to play crypto games and claim free NFTs in the process. And the platform will probably be run out of Amazon rather than Amazon Web Services (AWS). E-commerce giant Amazon.com Inc (NASDAQ: AMZN) is planning to launch an initiative that involves non-fungible tokens (NFTs). According to those familiar with the matter, the NFT initiative, known as “digital assets enterprise”, will allow Amazon to focus on blockchain-based gaming that rewards players with NFTs. The NFT initiative is…
With the proposed Moody’s stablecoin scoring system, the shift to the stablecoin regulations can be fast-tracked. Moody’s, the credit rating arm of Moody’s Corp (NYSE: MCO) is developing a new stablecoin scoring system that will see it classify as many as 20 stablecoins in the digital currency ecosystem. According to a report from Bloomberg citing sources who wish to remain anonymous, the scoring system will be hinged on the quality of the attestations on the reserves backing each of these stablecoins. Stablecoins are digital currencies whose prices are not subject…
While the collapse of the crypto exchange FTX and its affiliate Alameda Research is thought to have left many crypto players, including market makers, in the worst possible position, according to Andrei Grachev, managing partner at DWF Labs, this incident may have helped to “flush out companies that were not sustainable enough to operate during a storm.” As a result, the “market will be healthier” going forward. The Art of Market Making Besides weeding out weak players, Andrei Grachev suggested in a written response to questions from Bitcoin.com News that…
Burning tokens is a way of reducing supply, which subsequently adds value to each token as long as the level of demand remains the same. The Floki team hopes to position the project as serious decentralized finance (DeFi) contender. “Floki’s latest DAO vote makes it clear that Floki is more than just a memecoin,” B, a Floki core team member told CoinDesk. Source
Wendy Rogers, a state senator in Arizona, United States, has launched bills concerning cryptocurrency, including one that aims to make Bitcoin (BTC) a legal tender in Arizona. In a recent tweet, Rogers cited data from investment firm Goldman Sachs that BTC is the best-performing asset in the world and announced that she launched a set of crypto bills. “Breaking: #Bitcoin is the best performing asset in the world this year according to data from Goldman Sachs.” Launched my #Crypto bills today, as well as Photo Radar Prohibition, which included nearly…
Before his latest move to push for crypto payments at Capitol Hill, Cruz has always supported crypto assets. US Senator Ted Cruz is advocating for accepting crypto payments at Capitol Hill. His proposal, submitted on the 25th of January, requires Capitol Hill vendors to accept crypto payments. The Texas lawmaker introduced a resolution to prioritize crypto for payments at the capitol. Cruz Wants Capitol Hill Vendors to Accept Crypto The concurrent resolution introduced by the Senator may be cited as the “Adopting Cryptocurrency in Congress as an Exchange of Payment for Transaction…
Bitcoin (BTC) is having its best start to the year since 2013. The price of the largest cryptocurrency by market capitalization has jumped 40% this month amid weakness in the U.S. dollar. The rally has been powered predominantly by stateside buyers, observers say. Source
Based on CryptoQuant data, one observer notes that whenever the Bitcoin hash rate records new highs, as is the case in late January 2023, coin prices tend to retrace as the upside momentum fades. Extending this preview on current BTC rates, the analyst predicts that prices may rise above the current resistance level at $23,800 to $25,500 before dumping below immediate support lines towards $20,000, or worse. Bitcoin Price on January 27| Source: BTCUSDT on TradingView Hash Rate Peaks Are Selling Signals? Per his analysis, expanding Bitcoin prices would encourage…