Day: July 25, 2023

Bitcoin (BTC) at $29K Continues to Trade Near One-Month Low

Following its decline below $29,000 for the first time in a month on Monday, bitcoin (BTC) was trading at $29,100 early Tuesday. The bearish price action comes ahead of the Federal Reserve’s expected 25 basis point interest rate hike on Wednesday afternoon. With investors fully anticipating the move, Mike Schwitalla, head of trading at Crypto Finance AG, will be looking to see if market participants receive the actual decision as hawkish. Should slight selloffs ensue in risk markets, he’s looking at support zones for bitcoin around $28,000, $26,000, and $25,000.…

Elon Musk says X will offer an ‘entire financial world’ in the coming months

boss

Elon Musk posted an update for users with more information on the rebranding of Twitter to X saying it is part of a larger plan to incorporate financial services on the platform.  On July 25, Musk tweeted that his enterprise X Corp acquired Twitter in the name of freedom of speech and to advance the development of his “everything app” also to be called “X.” He hinted that in the coming months, users can expect to conduct their “entire financial world” on the platform. Twitter was acquired by X Corp…

Sotheby’s blockchain Gen Art program shows tech taking a back seat to art

Sotheby’s is making moves. The same fine art auction house behind several recent major nonfungible token (NFT) sales has just made the Met Breuer’s old Madison Avenue building its home, and on July 26, it’s launching an on-chain Gen Art Program powered by generative art platform Art Blocks.  A sale of NFTs by early algorithmic artmaker Vera Molnár will christen the program. She worked with artist and coder Martin Grasser to produce Themes and Variations, the sale’s series of 500 unique generative artworks. Altogether, it “expresses the seamless integration of…

Debt is GOOD for Bitcoin?? Shocking insights revealed

boss

In the latest episode of Macro Markets, Cointelegraph analyst Marcel Pechman discusses the United States Federal Reserve’s delicate balancing act of curbing inflation without causing a recession and sheds light on the potential implications for the cryptocurrency market. In the crypto world, the anticipation of rising interest rates could have a short-term negative impact. This may lead to a loss of confidence in the U.S. dollar, potentially resulting in a downturn for the crypto market. Nevertheless, Pechman remains optimistic about the potential of Bitcoin (BTC), highlighting its hard-locked monetary policies…

Axie Infinity creator to develop new game in partnership with CyberKongz

boss

Sky Mavis, the company behind the popular play-to-earn (P2E) blockchain game Axie Infinity, has announced a partnership with the Ethereum-based nonfungible token (NFT) collection CyberKongz to create a more comprehensive gaming ecosystem for the Ronin blockchain. In the announcement, the company also teased the creation of a new game, though it only provided scant details about the upcoming game development. However, Kathleen Osgood, the head of business development at Sky Mavis, told Cointelegraph in a statement that the new game will be interoperable by integrating with existing Axie Infinity experiences.…

Bitget surpasses 20M users as wallet integration spurs trading volumes

boss

Seychelles-based cryptocurrency derivatives exchange Bitget has seen prolific growth in key metrics through the first half of 2023, driven by the integration of a recently acquired self-custodial wallet service. Bitget is currently undergoing a rebranding initiative following its acquisition of BitKeep, with the latter being renamed Bitget Wallet. The platform has produced some impressive market performance metrics in 2023, ranking as the fourth-largest cryptocurrency exchange by trading volume. According to TokenInsight’s second-quarter report, the top four exchanges account for 85% of the total market trading volume. Binance alone accounted for 52%,…

Bitcoin funds decline as crypto investors flock to Ether and XRP

boss

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin-related investment products decline, as investor outflow is visible for the first time since Blackrock’s filing for a spot Bitcoin ETF. The outflow was revealed in a report by James Butterfill, CoinShares’ head of research. Bitcoin (BTC) investment products saw a notable outflow of $13 million during the week ending July 21. A reversal came after five consecutive weeks of inflows. The overall digital asset funds also witnessed weekly outflows of $6.5 million, following four weeks…