Month: March 2023

4 signs the Bitcoin price rally could top out at $26K for now

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Bitcoin (BTC) received a substantial boost this week as the U.S. inflation levels for February came along the lines of market expectations. On March 14, the BTC/USD pair surged to a new 2023 peak at $26,550 after the news. But while the macroeconomic conditions mat currently be favoring risk-on buyers, certain on-chain and market indicators hint at a potential correction in the near term. BTC flows back to exchanges as price rises Glassnode’s exchange flow data recorded the largest inflow to exchanges on March 13 since May 2022. This means…

Bitcoin Price Tops $26.4K, Quickly Rejected as Over $311M Liquidated in Crypto Market

High-impact news, including the CPI release and the US banking crisis, significantly contributed to Bitcoin price topping $26K. For the first time since June last year, Bitcoin price traded above $26K on Tuesday after the United States Bureau of Labor Statistics released the Consumer Price Index (CPI) data yesterday that was in line with expectations. The top digital asset by market capitalization gained as much as 10 percent during the day, but the rally was short-lived as Bitcoin closed the day trading below $25K. According to our latest crypto price…

Anchorage Digital Sends Home 75 Employees amid Crypto Regulatory Uncertainty

Anchorage Digital was the first federally chartered crypto bank in the United States after it raised $350 million at more than $3 billion valuation in 2021. Anchorage Digital, an institutional-grade cryptocurrency platform, has reportedly sent home 75 employees, representing 20 percent of the total workforce. According to a report by Bloomberg, Anchorage Digital cited the uncertain crypto regulatory landscape in the United States as the top reason for laying off part of its workforce. Moreover, the United States has not formulated clear crypto regulations, with the Securities and Exchange Commission…

Meta Winding Down Support for NFTs on Facebook, Instagram – Bitcoin News

U.S. tech giant Meta is giving up on operations with non-fungible tokens (NFTs) amid ongoing turbulence in the crypto space. The company allowed creators to share digital collectibles on its leading social media platforms last year. Meta Platforms Cutting Off Support for Non-Fungible Tokens California-based technology conglomerate Meta is winding down support for digital collectibles on its platforms. The company owns social media networks Facebook and Instagram to which it introduced NFTs less than a year ago. Meta provided the option to share non-fungible tokens amid the growing popularity of…

Coinbase to Add DeFi Apps Aave and Uniswap to Its L2 Network Base

Coinbase might be set to integrate several other protocols with Base, starting with Aave and Uniswap. American crypto exchange Coinbase Global Inc (NASDAQ: COIN) is reportedly making moves to bring decentralized finance applications Aave and Uniswap to Base. According to a CoinDesk report, the plans were revealed by a source who is closely familiar with the situation. Addition to Coinbase L2 Network Base: Aave and Uniswap Apps Recall, as Coinspeaker reported a month ago, Coinbase recently launched Base — its layer-2 network. However, the blockchain was built using the Ethereum-scaling…

Maggi Launches Digital Collectibles in OneRare Foodverse

The co-founder of OneRare expressed his company’s thrill at partnering with Maggi. International seasoning brand, Maggi, is set to launch its first-ever digital collectible in the OneRare Foodverse. Maggi couldn’t have chosen a better time to launch. After a turbulent 2022, NFTs have started to bounce back in 2023. According to the press release, Maggi will launch recipes made with Maggi Noodles, Masala-ae-Magic, and MAGGI Hot & Sweet, as Digital Collectibles that are usable in the Foodverse. The Foodverse, which is designed to bring the Global F&B Industry to the…

SVB mixup forces India’s SVC Bank to issue a notice of clarification

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The shockwaves caused by the collapse of Silicon Valley Bank (SVB) were felt by countless businesses, including a bank from India that had no relation with the California-based banking institution.  Soon after reports of SVB’s imminent shutdown surfaced on March 10, panic spread across the globe as investments tied to one the biggest banks in the US depicted an uncertain future. However, a Mumbai-based 116-year-old cooperative bank — Shamrao Vithal Co-operative Bank (SVC Bank) — got caught in the line of fire. The similarity in the short forms of the…