Day: December 7, 2023

Filecoin Network and io.net Announces Strategic Partnership to Widen Income Opportunities for Decentralized Storage Providers

The partnership between the Filecoin network and the io.net platform is a major shift for the decentralized storage providers, as more income avenues have been created. The Filecoin (FIL) network has grown to a mature decentralized storage ecosystem with a fully diluted valuation of more than $9.2 billion. In a bid to ensure sustainable growth in the future, the Filecoin network has been working with other industry players to onboard more stakeholders. In the latest development, the Filecoin network has announced a strategic partnership with io.net, an established platform that…

India Unlikely to See a Crypto or Web3 Bill for 18 Months, Senior Lawmaker Jayant Sinha Reveals

“In India where we have capital controls when you can’t freely trade the rupee for us to enable crypto assets is not really feasible,” Sinha said. “Unlike other economies like Singapore, or Korea or the US that have freely tradable currencies, and can get into crypto with a lot less trepidation. As far as India is concerned, we have to be very, very careful, very, very cautious when we talk about crypto. But crypto friends is just one use case for what is a revolutionary set of technologies that underlie…

Crypto Analyst Explains Key Factor

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Crypto analyst Egrag has published a new short-term price prediction for XRP, indicating a possible rise should the price overcome a critical technical hurdle. Egrag’s analysis looks at the 12-hour chart of the XRP/USD trading pair, where a trend channel breakout could trigger a short-term buy signal. XRP Price Breakout Imminent? According to the crypto analyst, the price has recently been moving within a descending channel (DC). Now, XRP is at an inflection point that could have a significant impact on its price. Egrag has identified the structure as “DC…

InQubeta and Injective poised for gains

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Bitcoin (BTC) recently broke above the $43,000 mark, rising to the highest level this year. This surge in price can be attributed to various factors, including a peak in yearly inflows totaling $1.5 billion and anticipation surrounding the upcoming halving event in April 2024.  Additionally, there is speculation about the approval of a spot Bitcoin ETF by the Securities and Exchange Commission (SEC) in the first week of 2024;…

2020 bull market buyers now control 16% of supply

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Bitcoin (BTC) has gained a new generatio of “hodler” in the past three years as stubborn investors refuse to sell. Data from the popular HODL Waves metric shows that those who bought Bitcoin in late 2020 are still sitting on their coins. BTC price should go “way higher” for hodlers to sell Bitcoin’s longer-term investor cohorts, also known as long-term holders (LTHs), are in no mood to decrease their exposure despite the 2023 bull run. HODL Waves, which groups the BTC supply by the time elapsing since each coin last…

Bitcoin’s massive rally wiped out $6b in short positions in 2023

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Short sellers in the cryptocurrency industry have faced losses exceeding $6 billion this year, primarily due to Bitcoin’s (BTC) remarkable rally since the start of January. A Dec. 5 report by S3 Partners reveals that traders who took short positions against publicly listed cryptocurrency companies like Coinbase, MicroStrategy, and Marathon Digital are currently facing on-paper losses amounting to $6.05 billion. Most of these losses have occurred in the past three months during a period marked by a dramatic turnaround in Bitcoin’s (BTC) value, the report goes on to state. After…

Google to Allow Crypto ETF Ads in January 2024

In Jabuary 2024, Google will updated its ad policy related to the advertsing of crypto assets, products, and services. Google is expected to update its policy regarding advertisements of cryptocurrencies and crypto-related products in January 2024. The updates will include clarifications of the requirements and scope of such ads. Starting on January 29, 2024, Cryptocurrency Coin Trusts (ETFs) can be advertised to users in the United  States in those cases when the offered services and products correspond to the rules set by Google. More detailed info to be added soon.…

Robinhood Launches Commission-free Crypto Trading App in EU

Robinhood’s clients in the European Union can buy and sell 25 tokens via a commission-free app. Today it has been announced that Robinhood Markets Inc (NASDAQ: HOOD) made a commission-free crypto trading application available to users in the European Union. It happened just a week after Robinhood’s stock-broking services were launched in the UK. Via the app, the company’s customers have the possibility to purchase and sell over 25 digital assets. Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) are also among them. “It is the only custodial crypto platform where…