Day: March 22, 2023

Bitcoin often dips when the Fed raises rates 

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Lookonchain recently looked at the performance of bitcoin (BTC) before and after the eight most recent Fed rate hikes. Bitcoin’s performance during Fed announcements The Federal Reserve will announce its interest rate decision in the coming hours. While preparing for this, Lookonchain looked at BTC’s performance in recent rate hikes. 1/ The Fed rate decision will be released in 10 hours. The figure below shows the price change of $BTC before and after the announcement of the Fed rate decision in the past year. And we noticed that some institutions…

Terran Orbital Experiences $100 Million Annual Increase as Reflected in Q4 2022 Report

The Terran Orbital Q4 2022 release revealed revenue increases on a quarter-on-quarter and year-on-year basis. Satellite maker Terran Orbital (NYSE: LLAP) recently posted its Q4 2022 earnings report, revealing an annual revenue increase of $94.2 million. This figure is more than double what Terran Orbital made in 2021. Terran Orbital’s revenue haul for Q4 2022 represented an increase of 130% year-over-year. The company reported that revenue grew from $27.8 million in the third quarter to $31.9 million in the fourth quarter. Furthermore, the Irvine, California-based satellite manufacturer also delivered 19 satellites during…

Undeads Announces the Prize Pool of MAYC, BAKC and Otherdeed NFTs for It’s Holders – Press release Bitcoin News

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press release PRESS RELEASE. Dubai, UNITED ARAB EMIRATES, March. 22nd, 2023, Undeads Metaverse, a highly anticipated AAA Web3 game, is excited to announce a competition for Undeads NFT holders. The competition will be broken down into three prizes. The first prize is the coveted MAYC NFT, while the second prize is the Bored Ape Kennel Club NFT. The third prize is the Otherdeed NFT. Each prize is worth fighting for, as all three NFTs are blue-chip digital assets that any NFT collector would love to have in their portfolio. A…

EU MiCA crypto regulation is a ‘balancing act’: Paris Blockchain Week 2023

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Regulators and industry players highlighted a number of implications and potential impacts of the European Union’s Markets in Crypto-Assets (MiCA) regulation at the Paris Blockchain Week 2023. A panel titled ‘MiCA: How is the EU Regulating Crypto?’ delved into the proposed MiCA regulation which is expected to take effect in 2024. The 400-page regulatory guideline for cryptocurrencies and digital assets has been a major talking point across the continent. Unpacking MiCA and its implications – a panel discussion featuring industry experts and regulators at Paris Blockchain Week 2023.  Gundars Ostrovskis…

Alecta Offloads First Republic Bank Stake amid US Banking ‘Uncertainty’

Sweden’s largest pension fund Alecta dumped its First Republic Bank stake at a $728 million loss amid broader US banking losses.  Swedish pension fund Alecta recently offloaded its First Republic Bank (NYSE: FRC) shares following the latter’s massive drawdown. The leading Swedish pension fund was the fifth-largest shareholder at the embattled bank but now appears to have lost faith in First Republic. According to Alecta CEO Magnus Billing, uncertainty regarding the future of First Republic Bank is “too great”. Magnus also explained that this uncertainty was partly due to the…

IRS to Treat NFTs Like Physical Art as Concerns Rise over Taxation

Following the announcement, a section of the crypto community on Twitter has heaped praises on the IRS and Treasury Department for taking such a detailed approach instead of regulating through enforcement. The Internal Revenue Service (IRS) may be contemplating disallowing the addition of NFTs to Individual Retirement Accounts (IRAs). This follows after both the IRS and US Treasury Department revealed their plans to issue guidance that would see non-fungible tokens treated in the same way as physical art and other collectibles. This means that persons in the United States who are…

Bitcoin and Ether Hold Up with Recent Gains while Awaiting Fed Rate Hike Decision

The technical chart for Bitcoin shows a bullish signal hinting that the BTC price can extend further rally all the way to $35,000. Bitcoin and the broader cryptocurrency market are currently holding up with their gains over the last weekend and earlier this week. As of press time, Bitcoin (BTC) is trading 2.0% up at a price of $28,141 and a market cap of $543 billion, on the other hand, Ether (ETH) too is up by 3.48% and is currently flirting around the $1,800 level. Investors are keeping a close…

Existing Home Sales Surged 14.5% in February as Result of Lower Mortgage Rates

According to NAR Chief Economist Lawrence Yun, home prices will not collapse, but this is not the bottom yet, meaning there might be a further decrease. The number of units sold could be even higher, but there is still a very low supply. According to the data from the National Association of Realtors, the sales of previously owned homes in the US surged in February, with the increase totaling 14.5%. Since July 2020, it has been the largest monthly percentage growth. The increase has brought the total sales at an annualized…

Ethereum as a deflationary asset, explained

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Centralized regulatory organizations typically govern the inflation of asset prices in traditional capital markets. Is that the same in Web3? Who ensures fair play? In the United States, the Federal Reserve (the Fed) assumes the responsibility of maintaining inflation at reasonable levels by implementing tools such as altering interest rates, bond-buying programs and money printing. This obligation is typically similar across most other nations. In Web3, inflation is controlled by the protocol’s monetary policy, which is determined by the community through decentralized governance. Deflationary mechanisms are interwoven into the tokenomics…