Tag: Market

Implications for the Economy and Crypto Market” – Blockchain News, Opinion, TV and Jobs

The recent Federal Reserve decision to maintain interest rates as they were, has sparked conversations about its potential repercussions for both the broader economy and the cryptocurrency market. While industry experts suggest that crypto may remain relatively insulated from this decision, the central bank’s insights into the overall economic landscape carry significant weight. A Battle Against Inflation For over a year, the Federal Reserve has been waging a relentless battle against inflation. Between March 2022 and July of the same year, the federal funds rate, a pivotal interest rate, surged…

Immutable (IMX) Up By 23% In A Single Day, Analyst Suspects Market Manipulation

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IMX, native token of Ethereum layer-2 scaling solution Immutable X, recorded massive gains on Thursday, soaring by over 23% within the last 24 hours. Before this price gain, IMX had been relatively stable all week, hovering around the $0.52 price zone, according to data from Coingecko. Behind IMX’s Rise, Analysts Points To Price Manipulation Although there may be no clear reasons for the token’s positive price movement, Chinese reporter Colin Wu speculated about potential price speculation.  According to a post on X by Wu, 10.95 million of the token, valued…

Sky-high interest rates are exactly what the crypto market needs

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The United States Federal Reserve Open Market Committee’s September decision on interest rates was entirely expected, with the FOMC holding rates at the current level of 5.25% to 5.5%. As also expected, the committee indicated there may be another rate hike coming this year, with Chairman Jerome Powell insisting — as usual — in his Sept. 20 press conference that the job of getting inflation back to the Fed’s 2% target is in “no way done.” What was more of a surprise, however, is the fact that the Fed raised…

IMX token jumped by 33% in a few hours, experts suspect market manipulation

The price of the Immutable X blockchain project token jumped by 33% in a few hours, crypto experts claim this is a result of market manipulation. On the morning of Sept. 21, the IMX token rate increased by 32.56%, according to TradingView. At the moment, the price of IMX reached $0.83, later it rolled back, and the asset is now trading at $0.64. The capitalization of the asset also increased. In a matter of hours, it jumped from $647.5 million to $887 million, according to CoinMarketCap. Daily trading volume increased from…

Signal hints at leaving UK market following passage of online safety bill

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A bill aimed at regulating certain internet services in the United Kingdom, including activities in the metaverse, has passed through Parliament and awaits King Charles’ approval to become law.  In a Sept. 19 announcement, the U.K. government said the Online Safety Bill had passed through a final debate in Parliament and will become law in the country “soon.” Lawmakers had previously debated whether the legislation aimed at protecting users online — particularly focusing on children — could extend to virtual environments like the metaverse. According to the government, the final…

How Bitcoin miners can survive a hostile market — and the 2024 halving

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Only seven months remain before the next Bitcoin (BTC) halving in April 2024. It happens approximately every four years and is a deflationary process that cuts the production of new coins by 50%. Bitcoin’s halving is a high-profile event for crypto investors, and has historically led to an increase in Bitcoin’s price. However, its impact on the mining industry is a more complex issue. It reduces block rewards,  one of the primary revenue streams for miners. The 2024 halving will reduce it from 6.25 BTC to 3.125 BTC. That’s why miners…

Crypto wallet market to grow by $686m by 2026: report

The market research firm Technavio’s new report shows that the crypto wallet market will grow by $686 million by 2026. The report is called “Crypto Wallet Market by Product and Geography – Forecast and Analysis 2022-2026.” Technavio estimates that the potential growth of the crypto wallet market from 2021 to 2026 will be over $686 million. This growth is driven by people’s increasing interest in digital currencies, which offer faster and cheaper bank transfers, a surge in e-commerce, higher currency transactions in low-income nations, and a rise in international remittances.…

How Much Will Dogecoin Trade At If It Attains The Market Cap Of Bitcoin Or Ethereum?

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Comparisons in the crypto market are not out of the norm, especially given the fierce rivalry that goes on between two or more tokens at a time. So this report will take a look at where the price of Dogecoin will realistically be if the meme coin’s market cap were to reach the current market cap of Bitcoin or Ethereum. Dogecoin With The Market Cap Of Bitcoin Bitcoin, the world’s largest cryptocurrency, has a market cap of $521 billion. This is over 2x the market cap of the second-largest cryptocurrency…