Tag: Data

HM Treasury changes course on collecting data around unhosted crypto wallets

boss

The government of the United Kingdom said it intends to modify a proposal that would have required crypto firms to collect personal data from individuals holding unhosted wallets that were the recipients of digital asset transfers. In its Amendments to the Money Laundering, Terrorist Financing and Transfer of Funds updated on Wene, HM Treasury said it will be scaling back its requirements for gathering data from both the senders and recipients of crypto sent to unhosted wallets, unless the transaction poses “an elevated risk of illicit finance.” The U.K. government…

UK Government Backtracks on Unhosted Wallet Data Collection Proposal

Had it been implemented as proposed, the rule would have required the sender of any transaction between unhosted wallets to collect know-your-customer data from the receiver. A similar proposal in the U.S. received backlash due to concerns about whether it would even be possible for some entities, like smart contracts with their own wallets, to comply, as well as whether the data would be safe if any random individual had to store it. Source

Further downside is expected, but multiple data points suggest Bitcoin is undervalued

boss

The outlook across the cryptocurrency ecosystem continue to dim as the sharp downtrend that was initially sparked by the collapse of Terra now appears to have claimed the Singapore-based crypto venture capital firm Three Arrows Capital (3AC) as its next victim.  As large crypto projects and investment firms begin to collapse on a weekly basis, the prospect of a long, drawn out bear market is a reality investors are beginning to accept.  Based on a recent Twitter poll conducted by market analyst and pseudonymous Twitter user Plan C,  41.6% of…

This oracle data provider platform has surpassed 4 million nodes since inception

boss

Can a fully-functional oracle network ecosystem that anonymously collects and validates geospatial (location-specific) data exist? One blockchain firm seems to have gotten the gist of the idea. Founded in 2012, XY Labs and its namesake protocol XYO, which is built on the Ethereum blockchain, seek to reward participants for the genesis, interpretation, analysis, and storage of data to be called upon for specific problems. There are currently over 4 million nodes worldwide on the XYO network.  In a recent ask-me-anything (AMA) session with Cointelegraph Markets Pro, Arie Trouw, founder of…

Chainlink integrates with Moonbeam to provide price data to Polkadot developers

boss

Decentralized oracle network Chainlink (LINK) has integrated its service called Chainlink Price Feeds to Moonbeam, a smart contract parachain on Polkadot (DOT), to provide data to developers in the platform.  In a release sent to Cointelegraph, Chainlink’s team noted that going live on Moonbeam will allow those who build within the platform to access price information that’s compiled and aggregated from many different exchanges. This allows decentralized finance (DeFi) developers to bring price accuracy to their decentralized applications (DApps). Moonbeam founder Derek Yoo mentioned that access to off-chain asset prices…

Ethereum price falls below $1.1K and data suggests the bottom is still a ways away

boss

Ether (ETH) price nosedived below $1,100 in the early hours of June 14 to prices not seen since January 2021. The downside move marks a 78% correction since the $4,870 all-time high on Nov. 10, 2021. More importantly, Ether has underperformed Bitcoin (BTC) by 33% between May 10 and June 14, 2022, and the last time a similar event happened was mid-2021. ETH/BTC price at Binance, 2021. Source: TradingView Even though Bitcoin oscillated in a narrow range two weeks before the 0.082 ETH/BTC peak, this period marked the “DeFi summer”…

Has Bitcoin Hit Bottom Yet? Here’s What On-Chain Data Says

boss

Bitcoin continued to crash down yesterday, with the coin hitting as low as $21k before rebounding to current values. Has the crypto made the bottom yet? Bitcoin NUPL Indicator Assumes Negative Values For First Time Since 2020 As pointed out by an analyst in a CryptoQuant post, the NUPL metric has declined below zero, which could be a sign that the crypto may be approaching a bottom. The Bitcoin “net unrealized profit and loss” (NUPL) is an indicator that’s defined as the difference between the market cap and the realized…

Bitcoin derivatives data shows no ‘bottom’ in sight as traders avoid leveraged long positions

boss

Bitcoin (BTC) lost the $28,000 support on June 12 following worsening macroeconomic conditions. The United States Treasury 2-year note yield closed on June 10 at 3.10%, its highest level since December 2007. This shows that traders are demanding higher rates to hold their debt instruments and expect inflation to remain a persistent challenge. Louis S. Barnes, a senior loan officer at Cherry Creek, stated that as the United States reported its highest inflation in 40 years, the mortgage-backed securities (MBS) markets had zero buyers. Barnes added: “Stocks are down 2%…

The total crypto market cap drops under $1.2T, but data show traders are less inclined to sell

boss

The total crypto market capitalization has been trading in a descending channel for the past 29 days and currently displays support at the $1.17 trillion level. In the past 7 days, Bitcoin (BTC) presented a modest 2% drop and Ether (ETH) faced a 5% correction. Total crypto market cap, USD billion. Source: TradingView The June 10 consumer price index (CPI) report showed an 8.6% year-on-year increase and crypto and stock markets immediately felt the impact, but it’s not certain whether the figure will convince the U.S. Federal Reserve to hesitate…

What Does Today’s US Inflation Data Mean for Crypto Markets? – Blockchain News, Opinion, TV and Jobs

Bitcoin has continued to hover around $30,000 for the last few days, but is dropping to $29.449,32 at this time of writing, after the market received the U.S. CPI inflation data that were released today at 1.30pm GMT. This event was key, to give us a better understanding of whether inflation had already peaked or is only beginning to peak, which is what is needed for the Federal Reserve to loosen monetary policy and hence result in upside for markets, or not. Economist Mohamed El-Erian, who accurately forecasted almost a…