Day: December 2, 2023

Madeira seeks to boost economy with startups, innovative payment system

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An archipelago in the middle of the Atlantic is seeking startups and tech talents to boost its economic growth. Web3 entrepreneurs are flocking to this region. Portugal’s Madeira archipelago has been praised for its natural beauty, but an aging population and pressing need for a more diversified economy prompted its local government to explore emerging technologies, such as blockchain. According to Rogerio Gouveia, finance secretary of the regional government of Madeira, emerging-technology companies make up nearly 30% of businesses in Madeira’s free trade zone, a special economic area that offers…

What is market manipulation in cryptocurrency?

Market manipulation in the crypto sphere, explained In the cryptocurrency space, market manipulation refers to the deliberate use of different deceptive strategies to artificially inflate or deflate the price of cryptocurrencies.  One of the signs of market manipulation includes sudden, unusual price increases or decreases that have nothing to do with important news or trends. Unusual high trade volumes concentrated in a brief period of time may indicate attempts at manipulation, particularly when coupled with a spike in social media excitement or well-coordinated online conversations. Moreover, persistent anomalies in the…

Hong Kong, Singapore attracting increasing crypto VC funding

Over 11% of global VC funding in blockchain and crypto was funneled towards ventures based in Hong Kong and Singapore throughout 2023. The findings mark a significant rise from the mere 2% allocation in 2021.  That’s according to analysts at PitchBook who attributed this change to several factors, including the collapse of Sam Bankman-Fried’s FTX crypto exchange and the subsequent bankruptcy domino effect it created that compelled many U.S.-based crypto companies to reassess their strategies. According to the report, regulatory uncertainties and the effect of major crypto firms like Binance…

Bitcoin Miner Revenue Sees 6-Month Crash, Whats Going On?

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Despite Bitcoin being up over 100% year-to-date (YTD), a recent report shows that this hasn’t necessarily translated to profits for the network’s miners. Instead, these miners seem to be experiencing a downturn in their revenue even as the Bitcoin Halving looms.  Bitcoin Miners’ Revenue Down By Over 30% According to a report by BanklessTimes, the revenue of these miners is down by over 30% in the past six months. Interestingly, these miners had their most profitable month when Bitcoin’s price was just picking up at the beginning of the year.…

What Are Altcoins? How To Spot Altcoin Season And How To Buy

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Altcoins, or alternative cryptocurrencies, have become a buzzword in the digital currency landscape, offering a world beyond Bitcoin (BTC). This guide explores the essence of altcoins, answering the pivotal question: What are altcoins? From the historical rise of altcoins to the exciting phenomenon of altcoin season, we delve into the intricacies that define this dynamic market. What Are Altcoins? Understanding The Basics Altcoins, short for “alternative coins,” encompass a diverse range of cryptocurrencies that have emerged following the success of Bitcoin. They are not simply imitations of Bitcoin but represent…

Top 5 Cryptos Set For A Major Price Explosion This December

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As the year draws to a close, cryptocurrency enthusiasts are eagerly anticipating a potential boom in the market, especially for the top 5 cryptos we have examined below, with December poised to be a pivotal month for digital assets. Among the myriad of cryptocurrencies, five stand out as prime candidates for a major price explosion. Cardano (ADA), Celestia (TIA), THORchain (RUNE), Terra Classic (LUNC), and the perennial giant Bitcoin (BTC) have captured the attention of investors and analysts alike. With unique features, strong fundamentals, and a buzz of anticipation surrounding…

Standard Chartered says BlackRock ETF approval will drive 165% BTC price pump, BTCETF Token surge

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. According to analysts at Standard Chartered Bank, the price of Bitcoin (BTC) is poised for significant gains if an ETF spot is approved in the US. This bullish forecast comes as excitement builds around the presale of Bitcoin ETF Token (BTCETF), which has already raised an impressive $2.1 million in early investment. Standard Chartered predicts Bitcoin will hit $100k within 12 months In a recent research note, global banking…

A government or corporate entity can destroy the Bitcoin network

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Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Destroying the Bitcoin network, which is a decentralized and distributed system, would be an arduous task. One day, however, state actors might set their targets on Bitcoin (BTC) in an effort to destroy the best money in the history of the world. Here’s how they might go about eliminating Satoshi Nakamoto’s invention. One way that governments could limit the growth of the Bitcoin network is through regulatory…

Over 80% Of Bitcoin Holders Now In Profit

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In the last week, Bitcoin has garnered much attention, gaining 2.58 % in seven days, according to data from CoinMarketCap. During this time, the premier cryptocurrency has moved from trading around  $37,800 to almost breaching the $39,000 price mark.  Following this positive price movement, Bitcoin has recorded some impressive metrics, which could bolster investors’ interest in the coming weeks. Bitcoin Experiences Highest Profitability Level In Two Years Via a Friday post on X, blockchain analytics firm IntoTheBlock reported that 81.35% of all Bitcoin holders are currently in profit. This marks…

UK Legislators urge caution in retail digital pound rollout

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British legislators are urging a careful stance regarding implementing a retail digital pound. They stress the importance of finding an equilibrium between technological advancements and potential drawbacks.  Members of the Treasury Select Committee have expressed reservations regarding the possible launch of a retail digital pound, underscoring the need for thoughtful examination before execution. Despite recognizing potential advantages in terms of innovation, the committee has urged the Bank of England (BoE) and Treasury to thoroughly assess the necessity of such a step, considering both associated costs and risks. In the interim,…