Day: August 28, 2023

Bitcoin Price Stuck At $26,000

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The Bitcoin price has barely moved a few hundred dollars since late last week, but a vital metric hints at another aggressive move. In the meantime, the cryptocurrency is likely to keep trading sideways until another liquidation event flips momentum into a specific direction. As of this writing, Bitcoin trades at $26,100 with sideways movement in the last 24 hours. In the previous seven days, BTC recorded similar price action while other tokens in the top 10 moved in tandem except for Binance Coin (BNB) and Solana (SOL). BTC’s price…

Price analysis 8/28: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, DOT

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The S&P 500 is attempting a recovery, but Bitcoin and select altcoins are struggling to break above their respective resistance levels. Bitcoin (BTC) is down about 11% in August, just shy of the 13.88% fall seen in the corresponding month in 2022, according to CoinGlass data. The picture does not look very bright for September either. History shows that every year since 2017, Bitcoin has declined in September.  Bloomberg Intelligence senior macro strategist Mike McGlone is even more bearish on Bitcoin. While speaking to Kitco News, McGlone warned that in…

Shiba Inu’s Shibarium reemerges after initial setbacks

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Shiba Inu’s layer-2 solution, Shibarium, is now functional after the network faced technical issues following its initial launch.  In a scaling final update published on Aug. 28, Shytoshi Kusama, Shiba Inu’s lead developer, revealed that the Shibarium mainnet is “live and operating well.” Community members received an announcement enthusiastically.  According to Kusama, bridge withdrawals were also reopened, stating that the withdrawal timeframe for tokens such as SHIB, LEASH, and wrapped ether (wETH) was designed to be…

Advisor At Blockchain-Focused VC Nabbed In Colombia For Child Porn

In another shocking development, an advisor at a venture capital (VC) firm that focuses on blockchain companies has been arrested. The Master Ventures advisor identified as Orion Depp was arrested in Colombia and is now facing multiple charges connected with sexual activities with underage children. Making Colombia His Hunting Ground In the report that was published by local media outlet Semana, Depp has been using Colombia as a hunting ground for his sexual activities with minors. The financial analyst and advisor would reportedly use social media to lure underage girls…

Bitcoin Bullish Uptrend Remains Unbroken, Here’s Why

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Bitcoin price is currently trading at slightly above $26,000 per coin, but is still reeling after last week’s 10% single day selloff. The situation looks dire for crypto bulls who were hoping for a more significant recovery to begin after such prolonged sideways. However, the bullish market structure remains unbroken. Let’s take a closer look at what exactly this means and why the 2023 uptrend is still intact. Recapping Recent BTCUSD Volatility After a solid start to 2023 – certainly a year that’s been kinder to the king of cryptocurrency…

A Crypto President? Top U.S. 2024 Contenders Aren’t Fans, and Rivals Are Way Behind

Crypto was on fire as a topic in the early U.S. presidential campaigning, but the first Republican debate last week showed it may not be an issue that has legs with candidates trying to grasp mainstream attention. While we wait to see whether digital assets come up at the Republican primary debate next month, here’s how the major candidates from both parties shake out on the topic: Source

Ceffu Launches Newest Off-Exchange Settlement Solution MirrorX for Binance Institutional Users

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August 28, 2023 – Vilnus, Lithuania Ceffu, the institutional crypto custodian and partner of Binance – the world’s largest cryptocurrency exchange by trading volume – announced today the release of its newest off-exchange settlement solution, MirrorX. Launched as an evolution of its predecessor, this innovative custody solution provides institutional investors with the fastest gateway to the Binance Exchange – with instantaneous access to most of the products available in the Binance ecosystem, including spot, margin and futures trading – without needing to move their assets to the exchange. Digital assets…

Binance says it ‘continues to serve’ Belgian users via Poland entity

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After an order from the Belgian Financial Services and Markets Authority (FSMA), crypto exchange Binance announced its Poland entity would be providing services to residents of Belgium. In an Aug. 28 announcement, Binance said Binance Poland sp. z o.o. — an entity the exchange registered with Polish regulatory authorities in January — would comply with “regulatory obligations” for residents of Belgium looking for services on the exchange. According to Binance, some users may need to submit documentation in accordance with Know Your Customer requirements for Poland rather than Belgium. The announcement…

Spain’s central bank expects digital euro to enhance financial services 

The deputy governor of the Spanish national central bank, Margarita Delgado, has spoken about the future of the digital euro and how private payment solutions will interact with it. Speaking in line with the recently proposed digital euro legislative plan, Delgado reveals that it is expected that the digital euro will help the private sector’s development of pan-European payment and financial services.  She believes these developments will make the continent’s financial system easier to compete with non-European solutions. Central bank digital currencies (CBDCs) are becoming increasingly popular. Currently, about 130…

Another Bitcoin Metric Is About To Reach A New All-Time High Despite The Bear Market

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The price of Bitcoin has taken a beating in the past month. The leading cryptocurrency by market cap is down by more than 11% from its price in July and has lost more than $50 billion in market cap since then.  While the price plunge has been painful for investors, Bitcoin miners have also been feeling the sting as mining revenue per computing power has been dwindling for the past few months. On the other hand, Bitcoin’s hashrate has soared to high levels as mining farms continue to come online.…