Day: September 22, 2023

Bitcoin fails to recoup post-Fed losses as $20K BTC price returns to radar

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Bitcoin (BTC) circled lower after the Sept. 21 Wall Street open as $20,000 BTC price predictions resurfaced. BTC/USD 1-hour chart. Source: TradingView Bitcoin analysis: Hype, FOMO and a “slow grind” to $28,500 Data from Cointelegraph Markets Pro and TradingView covered a lackluster 24 hours for BTC price action, with $27,000 fading from view. The aftermath of the United States Federal Reserve interest rates pause offered little for Bitcoin bulls, BTC/USD having dipped almost $700 the day prior. Now, market participants returned to a more conservative outlook in the absence of…

ImmutableX Makes Noise As IMX Token Dominates Top 50

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The price surge of ImmutableX (IMX) came as a surprise to the market, as the altcoin took the lead in the cryptocurrency market rally on Friday. The alternative cryptocurrency reached its highest point in 45 days and successfully transformed several resistance levels into stable support levels. IMX reached a peak of $0.77, marking a 33% increase from its starting price. Nevertheless, this upward momentum couldn’t be maintained, and there’s now a potential threat to the breakout from a descending resistance line for IMX. The notable surge in the price of…

Crypto Game Big Time Will Kickoff Its ‘Player-Owned Economy’ Soon

Big Time’s creators, which include the former CEO of Ethereum-based virtual world Decentraland and several former AAA game developers, refer to its “player-owned economy,” where gamers can craft, trade or loot digital wearables and collectables in the form of non-fungible tokens (NFTs), driven by a native Big Time cryptocurrency, as they explore ancient civilizations and futuristic worlds. Source

Crypto investment firm CoinShares opens hedge fund division for US investors

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Major European cryptocurrency asset manager CoinShares is launching a hedge fund division in the United States despite the country’s tough crypto regulation climate. CoinShares officially announced the news on Sept. 22, stating that the firm will roll out its offerings for qualified U.S. investors for the first time ever. The new division, called CoinShares Hedge Fund Solutions, is the company’s response to the growing demand for products based on cryptocurrencies like Bitcoin (BTC). For the first time, CoinShares will be making its offerings accessible to qualified U.S. investors through a…

Why are investors fleeing crypto’s safe haven?

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In a year filled with uncertainty in the cryptocurrency space, a new trend has been unraveling: a stablecoin exodus that has now lasted for 18 consecutive months and has seen the market dominance of stablecoins drop to 11.6%. According to a report from CCData, the total market capitalization of the stablecoin sector in July was $124 billion amid a 18-month decline that affected most major stablecoins. While Pax Dollar (USDP), USD Coin (USDC) and Binance USD (BUSD) all saw declines, the largest stablecoin by market cap, Tether (USDT), has kept…

Bankrupt FTX Exchange Turns Its Attention To Employees, Here’s How Much It Wants

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It’s been almost a year since the collapse of FTX, but the failed crypto exchange continues to be surrounded by drama. In a flurry of moves to claw back funds for investors, FTX lawyers are now going after employees of Salameda Ltd.  According to court filings, the employees of Salameda – a Hong Kong-incorporated entity allegedly controlled by former FTX CEO Bankman-Fried, named as defendants were prioritized over other customers as many raced to withdraw their assets from the exchange before its imminent crash on November 11, 2022.  FTX Wants…

Why branding is the programming language of humans

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For too many Web3 projects, marketing is often an afterthought. The prevailing wisdom is that a visionary founder will generate a killer idea that will get VCs frothing, use their funding to hire a superstar developer (or an entire team of them) and bring the vision to life via the medium of code.  Once there’s a minimum viable product (MVP) to showcase, the project needs a user base to make this thing into a viable product. At this point, it’s time to fire up the Magical Marketing Machine, which connects…

Alibaba’s Logistics Arm Cainiao to File for $1B+ Hong Kong IPO

Meanwhile, Alibaba has put a hold on Hong Kong IPO plans for its grocery chain Freshippo. The Alibaba Group’s logistical arm Cainiao Network Technology is set to reportedly file for its Hong Kong Initial Public Offering (IPO) by next week, making it one of Alibaba’s first units to go public. According to sources familiar with the matter, the logistics firm is looking to raise more than $1 billion from the sale share. They added that the valuation has not been decided on and no final decisions have been made so…