Day: August 17, 2023

Bitcoin Price Plunges Again And Now Vulnerable To More Losses

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Bitcoin price gained bearish momentum below the $29,000 support. BTC tested $28,400 and now at risk of more losses below $28,200. Bitcoin is trading with a bearish angle below the $29,250 resistance zone. The price is trading below $29,000 and the 100 hourly Simple moving average. There is a major bearish trend line forming with resistance near $28,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down and trade below the $28,200 support. Bitcoin Price Takes Hit Bitcoin price remained…

Unleashes New Open-Source Disbursement Platform

Blockchain-based payment network Stellar has introduced the open-source “Stellar Disbursement Platform,” aimed at facilitating faster, cost-effective, and transparent digital disbursements worldwide.  Developed by the Stellar Development Foundation (SDF) over the past year, the platform enables individuals and organizations to execute bulk disbursements using digital assets for various purposes, including gig worker payments and digital aid delivery.  Initially deployed for digital aid disbursements in Ukraine, the turnkey payment solution is now open-source and available for use and further development by anyone. Revolutionizing Global Payments? According to the announcement made on Wednesday,…

Bitcoin price will surge past $150K if spot ETFs are approved: Analyst

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The price of Bitcoin (BTC) will surge past an eye-watering $150,000 by the end of 2024, as long as the current slew of United States spot-Bitcoin exchange-traded funds (ETFs) are approved, according to investment research boutique Fundstrat. In an Aug. 16 interview on CNBC’s Squawk Box, Fundstrat’s managing partner and head of research, Tom Lee, predicted that a bundle of successful Bitcoin spot ETF applications would shift Bitcoin’s supply-demand dynamics towards considerable price appreciation. When asked what the price of Bitcoin could be by the end of next year, Lee didn’t…

Canadians are moving past crypto speculative trading: Coinbase country head

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Canadians are starting to look at digital assets as more than just speculative investments, seeing them instead as legitimate assets for everyday transactions, according to Coinbase’s country director for Canada. Speaking to Cointelegraph in Toronto on Aug. 16, Coinbase’s Canada director Lucas Matheson said he believes that more utility and use cases in daily life will soon be digital asset-backed, something that “everyone in our industry is excited for.” “In Canada, we’re ready to move beyond the confines of thinking about digital assets as a speculative retail investment. This is…

FDIC highlights potential banking risks from crypto activities

In this year’s review, the FDIC evaluates the potential implications and challenges of integrating crypto activities into the traditional US banking framework. In its 2023 annual risk review, the US Federal Deposit Insurance Corporation (FDIC) dedicated a comprehensive section to the implications of cryptocurrency activities on the national banking infrastructure. The FDIC’s primary functions include insuring deposits and supervising financial institutions in the US. The backdrop for this attention was the eventful year 2022 for the crypto sector. Prominent players in the industry, such as Terraform Labs, BlockFi, Celsius, Three…

Crypto millionaire found murdered in Bulgaria, suspect arrested

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Christian Peev, a crypto millionaire, was found dead last weekend, days after disappearing in early August. On Aug. 10, Peev’s cousin reported him missing, and the Bulgarian police started an investigation. The body of the American investor was found by a plumber, chopped into pieces, in a sewer in the city of Sofia, Bulgaria. Investigators found a suspect, a bartender known as Vesco Valchinov, who has been accused of killing Peev and flushing some parts of…

Why Bitcoin Will Move Away From $30,000

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The Bitcoin price action has been stuck in a tight range for weeks leading to the lowest volatility levels in years. A recent report hints at a potential breakout from the current range, but which side will be favorable by the potential spike in volatility? As of this writing, Bitcoin trades at $28,950 with sideways movement in the last 24 hours. Over the previous seven days, the BTC’s price saw a slight downtick recording a 2% loss. Other tokens in the top 10 by market cap are underperforming, with many…

Looking back at the first 7 days of Onchain Summer

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It’s been an eventful week since Coinbase launched its new layer-2 network Base to the public, bringing with it a frenzy of activity from everyday crypto users, major brands, and more unfortunately, some bad actors as well.  Coinbases’ Onchain Summer festival — a three-week-long campaign celebrating the launch of Base — has seemingly attracted a flock of new users to the ecosystem.  As of Aug. 16, more than 700,000 new users have joined the Base network, and have since bridged a total of $242 million to the network, according to…

Files For ETH Futures ETF With SEC

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Asset management firm Valkyrie has taken a significant step by filing for an Ether or Ethereum (ETH) futures exchange-traded fund (ETF) called “Valkyrie Ethereum Strategy ETF” with the United States Securities and Exchange Commission (SEC).  Valkyrie Ether Futures ETF Include Secure Collateral Investments According to the filed documents on August 16, the proposed ETF will not directly invest in Ether, the native token of the Ethereum blockchain. Instead, it aims to acquire a portfolio of Ether futures contracts.  These contracts are traded on commodity exchanges registered with the Commodity Futures…

Ethereum co-founder praises X’s Community Notes for echoing crypto principles

Ethereum co-founder, Vitalik Buterin, has lauded X’s new Community Notes feature, highlighting its alignment with core blockchain values despite its non-cryptocurrency origins. In December 2022, the social media giant formerly known as Twitter, now X, launched Community Notes. Since then, it has steadily grown in prominence, establishing itself as a cornerstone tool for the platform. Open-source in nature, Community Notes allows anyone to participate as a contributor. Though still recognized as being in its developmental pilot phase, the feature plays a central role in a burgeoning community dedicated to identifying…