Day: November 8, 2023

BIS researchers believe that stablecoins will not live up to hype

A recent report by the Bank for International Settlements raises concerns about stablecoins’ ability to maintain parity with their pegged assets, challenging their stability and reliability as a digital currency. In a recent report by the Bank for International Settlements (BIS), stablecoins, a type of cryptocurrency pegged to assets like the U.S. dollar, are under scrutiny. The report asserts that these digital assets fail to consistently maintain their value in parity with their underlying assets, contrary to what their name suggests. The BIS examined various stablecoins, including Pax Gold, USD…

CoinMarketCap Launching CMC Labs – Web3 Startup Accelerator Program

The CMC Labs program will last for one year only. Notably, it is highly selective, with a limited number of participants. Those who want to become a part of CMC Labs have to meet a number of certain criteria. The world’s leading provider of data on crypto market capitalizations CoinMarketCap has announced the launch of CMC Labs – a special Web3 program dedicated to offering a comprehensive curriculum and access to industry-leading mentors and investors. In essence, CMC Labs has been designed for those who are interested in becoming Web3…

Crypto Analyst Says It’s Closer Than You Think

boss

The argument for the Bitcoin price to reach above $200,000 has been going on for a few years now with a number of crypto pundits maintaining their stance. This has not changed, especially with the most recent prediction from one crypto analyst who puts the BTC price above $200,000. But what’s most interesting is the timeframe in which this analyst expects the leading crypto to reach this level. Halving To Trigger Parabolic Rally Crypto analyst TradingShot posted another eye-catching prediction on the TradingView website, putting the Bitcoin price as high…

Bitcoin stability and altcoin rally highlight current crypto trends

boss

K33 Research’s report shows the crypto market exhibits a bullish trend as Bitcoin maintains a steady trading range and altcoins, like Solana, experience significant gains amid new technological developments and market speculation. In recent weeks, the crypto market has shown signs of bullish behavior, with particular attention on the movements of Bitcoin and a variety of altcoins, as detailed in a recent K33 Research report. Stability marks Bitcoin’s current state, as its value oscillates between $34,000 and $36,000. This steadiness, however, has come with a slight reduction in its market…

Kraken Eyes New Blockchain Tech Amidst Industry Competition

CELESTIA POSTSCRIPT: Rarely are blockchain projects alone in the pursuit of hot new ideas. That’s true of the au courant rush by various efforts to provide “modular” solutions for handling the various tasks of a blockchain, including the job of “data availability,” which involves managing growing reams of data and efficiently providing it to users or applications when requested. The data-availability network Celestia dominated the headlines last week, especially with the buzzy airdrop of TIA tokens garnering interest from crypto traders. This week, a rival project, Avail, announced a new…

Solana Whale Deposits $11M In SOL To Binance, Bearish Signal?

boss

Data shows a Solana whale has deposited SOL worth $11 million to Binance, which could be bearish for the asset’s price. Solana Has Enjoyed Sharp Bullish Momentum During The Past Month Since the start of Bitcoin’s rally towards the $35,000 level, the cryptocurrency market as a whole has been having a good time. Among the assets, Solana has particularly stood out, as its returns have been one of the highest. During the last 30 days, SOL has observed an exceptional rally of more than 84%, leading to its price surpassing…

Visa launches global AI advisory practice focused on generative systems

Visa announced the launch of its new global AI advisory practice on Nov. 8. The consultation service will be part of Visa Consulting & Analytics (VCA) and, according to a press release, will focus on “providing actionable insights and recommendations to empower clients to unlock the potential of AI and utilize generative AI.” Citing its “30-year AI legacy,” Visa announced the new practice alongside a range of new services related to empowering clients to understand the potential role of generative AI at the enterprise level. Using 30 years of knowledge…

New BTC price levels to watch as Bitcoin avoids $36K

boss

Bitcoin (BTC) has new short-term BTC price targets as consolidation mixes with bouts of volatility. After a classic “short squeeze” took the largest cryptocurrency to near $36,000, Bitcoin market participants are highlighting key levels to look for from Nov. 8 onward. Bitcoin buy liquidity inches down to $34,000 Bitcoin is facing hurdles overcoming resistance at the $36,000 mark, and several attempts to clear it have quickly faded data from Cointelegraph Markets Pro and TradingView shows. Now, sellers are becoming active on intraday timeframes, and data from exchange order books shows the…

HKEX-listed tech firm launches $15M Bitcoin fund

boss

Linekong Interactive, a gaming and film production company headquartered in Beijing and listed on the Stock Exchange of Hong Kong (HKEX), is allocating $15 million to invest in projects building on the Bitcoin network. Wang Fang, the founder of Linekong, said in a Nov. 8 tweet that the fund, dubbed “BTC Next,” will be used to accelerate emerging projects in the Bitcoin ecosystem, including “asset issuance protocols, trading markets, expansion, virtual machines, NFT, RWA, and GameFi.” For initial efforts, the firm would “participate in the research and investment of Bitcoin network ecological assets…