Bitcoin’s realized price looks set to cross above the average on-chain acquisition price of long-term holders, indicating a prolonged bullish period ahead. Original
Bitcoin's Realized Price on Cusp of Flashing Major Bullish Signal
Day: May 16, 2023
Asymmetry, ‘ETF’ for Liquid Staking Tokens, Raises $3M Round From Ecco Capital, Ankr and Others
The crypto project’s safETH token represents a basket of liquid staking tokens from Lido, Rocketpool and Frax. Source
Web3 Funding Platform Endaoment Partners With GlobalGiving to Expand Charitable Opportunities Worldwide
According to a press release, this partnership has tripled the number of verified charitable organizations willing to accept digital assets, broadening the reach of digitally-native donors who want to contribute to social causes. In addition, donors can now make tax-deductible gifts using more than 1,000 digital currencies and assets to nonprofit organizations in Afghanistan, Japan, Australia and more. Source
Web3 Firm Red Beard Ventures Closes $25M Funding Round With Animoca Labs, SuperRare
Red Beard Ventures launched as a syndicate of startup accelerator AngelList in 2019 by founder and managing partner Drew Austin. It has invested in 192 companies, including NBA Top Shot parent Dapper Labs, metaverse platform The Sandbox and data aggregator CryptoSlam, deploying more than $40 million in capital. The company has found success in Web3, though it also invests in projects related to space exploration, climate science, robotics, AI, fintech and biotech. Source
Libra-related Sui blockchain fixes critical bug that put ‘billions’ at risk
The Sui blockchain network quietly fixed a bug that could have put “billions of dollars” at risk, according to a May 16 announcement from Zellic, the security firm hired to audit the network’s security. Loss of Funds Bug in Aptos and Sui Quick spotlight on an unpublished (but fixed) loss-of-funds bug in the move verifier that seems to have been found by @zellic_io. This would have allowed many types of exploits against Aptos or Sui based protocols. — Jasper | Neodyme (@JasperCPS) April 11, 2023 The bug was in a…
Crypto community responds to US democrats backing SEC’s crypto authority
The United States Democratic Party has expressed its intent to back the Securities and Exchange Commission’s (SEC) total authority over crypto in a memo circulated among committee members before a hearing. The documents were shared on social media, causing backlash from crypto community members. On May 10, the documents were shared on Twitter, highlighting key messages for the democrats to support the SEC’s authority on crypto regulation. This includes its argument that nearly all digital assets constitute securities. Some threatened to give their votes to other parties; others argued that there were a…
BTC, ETH Consolidate Ahead of US Retail Sales Data – Market Updates Bitcoin News
Bitcoin consolidated below a key price floor on Tuesday, as markets were preparing for upcoming U.S. retail sales figures. Following two months of declines, sales in the United States are expected to rebound, as inflation cools off. Ethereum remains above the $1,800 level. Bitcoin Bitcoin (BTC) consolidated in today’s session, as markets were preparing for the release of the latest U.S. retail sales figures. As inflation falls, sales for April are expected to rise by 0.8%, following two consecutive months of declines. Following an earlier high of $27,646.35, BTC/USD slipped…
Bangladesh and India to Trade in National Currencies Due to US Dollar Liquidity Issues – Economics Bitcoin News
Bangladesh and India have decided to conduct trade settlements in their own currencies, bypassing the dominance of the U.S. dollar. According to sources from the Bangladesh Bank, the decision was made due to the issues of liquidity in foreign currency that Bangladesh faces, which are disrupting the flow of imports to the country. Bangladesh and India to Conduct Bilateral Trade in National Currencies The governments of Bangladesh and India have decided to conduct their bilateral trade settlements in national currencies, away from the dominance of the U.S. dollar. According to…
ICO fines two businesses £180,000 for making unlawful marketing calls
Regulator launches three new videos aimed at helping small businesses navigate electronic communications law The Information Commissioners’ Office (ICO) has issued fines totalling £180,000 for two companies that made more than 480,000 unlawful marketing calls to businesses signed up with the UK’s “Do not call” register. The ICO has today also announced the launch of a suite of bite-size video resources to help small business and sole traders ensure their marketing is compliant with legislation. The ICO’s investigation found that Ice Telecommunications Ltd, Crewe and UK Direct Business Solutions Limited,…
Bitcoin’s upward momentum can face short-term exhaustion
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin (BTC) began the year on propitious grounds, rallying from $16,541 on Jan. 1 to a peak of $31,000 on April 14. However, the asset’s upward momentum faced a massive hurdle in mid-April, leading to intermittent declines that have brought it below $28,000. A recent analysis of the prevalent market conditions suggested that bitcoin’s upward momentum could face short-term exhaustion. The analysis shared on CryptoQuant highlights three factors contributing to the opposition to the asset’s upward…