Day: December 7, 2023

Russia debuts cross-border payments in Tether stablecoin

boss

One of the first cross-border payment platforms in Russia has officially announced its launch and says it will be facilitating local legal entities to process international settlements in cryptocurrency. Exved, a local digital settlement platform — which describes itself as a “digital counterparty search system” — announced the launch on Dec. 7, stating that Russian importers and exporters can now use its business-to-business (B2B) solution to simplify the process of “foreign exchange operations and foreign economic activity.” The Exved platform specifically allows one to proceed with cross-border transactions using Tether…

Bitcoin Halving and Spot ETF Hype Fuels Bulls but There Is Catch

Crypto experts during the Next Block Expo conference in Berlin unanimously agreed the crypto bear market is over but emphasized a cautious approach. Bitcoin (BTC) price has continued to showcase its stability as an investment product in the past few days. After reaching a new yearly high of around $44.5k, Bitcoin price has been ranging in a bullish pennant pattern, which could yield a fresh rally toward $48k before the end of the year. The flagship cryptocurrency has attracted significant attention from institutional investors seeking to diversify their portfolios and…

Polygon 2.0 – 2024 to see unified ZK-powered L2 chains

Polygon co-founder Jordi Baylina says 2024 will see the amalgamation of Polygon’s various Ethereum layer 2 scaling networks to complete its “Polygon 2.0” cross-chain coordination protocol. Speaking exclusively to Cryptox, Baylina said next year will be a litmus test to see how the Polygon ecosystem’s various networks can scale and integrate through the implementation of zero-knowledge proofs (ZK-proofs): “2024 is going to be very much about Polygon 2.0, having all these networks connected, sharing the liquidity, sharing the composability between the network with different flavors.” Baylina added that several of…

Bitcoin Shakeout Drives $190 Million In Losses For Over 81,000 Traders

boss

Bitcoin has seen a pullback but not to the extent that bears have been expecting. Nevertheless, as a result of this, a lot of traders have incurred massive losses due to Bitcoin staging another unexpected recovery. The loss volumes have quickly risen to $190 million in one day as uncertainty remains the order of the day. Crypto Liquidations Reach $190 Million According to data from Coinglass, the 24-hour crypto liquidation volumes quickly rose above $190 million as Bitcoin completed a shakeout. This began with the price pullback to the $43,600…

Bitcoin’s (BTC) Famed Bull Market Pullbacks Have Been Elusive. Here’s Why

Derivatives are usually leveraged instruments, allowing traders to take bullish (long) or bearish (short) positions worth more than the amount they have deposited as a margin at the exchange. Leverage is a double-edged sword, magnifying both profits and losses. It also exposes traders to liquidations, or forced unwinding, due to margin shortfalls. Furthermore, mass liquidations often lead to exaggerated bullish or bearish moves, so the greater the use of leverage, the higher the probability of liquidations injecting volatility into the market. Source

Bitcoin Maxi and Advisor to El Salvador President Max Keiser Predicts BTC Price to Hit $375,000

boss

Max Keiser has also hinted at a ‘God Candle’ influencing a $100,000 surge in BTC prices. Keiser suggested that the unfolding of this God Candle scenario will be nothing short of shocking for the global audience. In cryptocurrency, a God Candle typically denotes a candlestick pattern characterized by an unforeseen and substantial price increase, akin to achieving a 100% rise within a short span of a few weeks. A $100,000 God Candle is in play. A $100,000 uptick in #Bitcoin price. This will literally shock the world. And the #Bitcoin…

Robinhood launches crypto trading services in Europe

boss

 Trading and brokerage firm Robinhood announced the launch of its crypto services for all eligible European Union customers on 7 December. The platform will allow traders to buy and sell more than 25 cryptocurrencies. Robinhood’s entry into the European crypto market comes just a week after the firm launched its stock trading application in the United Kingdom. Cointelegraph contacted Oliver McIntosh, senior product communications manager at Robinhood, to understand the firm’s crypto focus and expansion plans in Europe. Mcintosh said that the EU is the right market to anchor our…

A startup has developed a home heater that mines Bitcoin

boss

Heatbit presented a new device combining a Bitcoin miner with a heater. Crypto.news talked with its developer during the Web Summit in Lisbon. An individual Bitcoin transaction is estimated to consume around 710 kWh, equivalent to more than 20 days’ worth of electricity for an average American household. To put this into perspective, the average cost per kWh in the U.S. is around 17 cents, resulting in a substantial energy bill of approximately $120 for a single Bitcoin transaction. Heatbit, a startup, has taken a rather inconvenient approach to alleviating…

British regulator adds Justin Sun-linked Poloniex to warning list after $100M hack

boss

The United Kingdom’s Financial Conduct Authority (FCA) has added crypto exchange Poloniex to its warning list of non-authorized companies. The Seychelles-based exchange is one of the three companies owned by or affiliated with entrepreneur Justin Sun that have suffered four hacks in the last two months. The warning to Poloniex was published on the FCA’s website on Dec. 6. It doesn’t offer a reason but says that “firms and individuals cannot promote financial services in the UK without the necessary authorization or approval.” The FCA also reminds the public that…