Tag: Markets

CFTC Fines ‘Decentralized’ Prediction Market Platform Polymarket $1.4 Million, Shuts Down Noncompliant Markets – Regulation Bitcoin News

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The U.S. Commodity Futures Trading Commission (CFTC) has ordered a “decentralized” prediction market platform to shut down non-compliant markets and pay a fine of $1.4 million. “Polymarket had been operating an illegal unregistered or non-designated facility for event-based binary options online trading contracts, known as ‘event markets,’” said the derivatives regulator. CFTC Takes First Crypto Enforcement Action of the Year The Commodity Futures Trading Commission (CFTC) has taken the first crypto enforcement action of the year in the U.S. The derivatives regulator announced that it entered an order Monday “filing…

Bored Ape, Mutant Ape Yacht Club NFT Sales Skyrocket — Floor Prices Spike More Than 40% – Markets and Prices Bitcoin News

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After Eminem revealed that he purchased a Bored Ape Yacht Club (BAYC) non-fungible token (NFT) for $452K, both BAYC and Mutant Ape Yacht Club (MAYC) NFT sales have skyrocketed. Metrics indicate that on Sunday, January 2, 2022, MAYC’s seven-day trade volume of $93.02 million is up 93.41% and BAYC’s weekly volume of $78.26 million is up 150.97%. BAYC and MAYC Weekly Volumes Jump 93% to 150% Higher Bored Ape Yacht Club and Mutant Ape Yacht Club, are two particular NFT projects that have seen significant trade volume during the last…

Despite Negative Mining Malware Press, Privacy-Focused Crypto Monero Jumps 36% in 2 Weeks – Markets and Prices Bitcoin News

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The privacy-centric crypto asset monero has seen significant gains during the last two weeks, jumping 36% in value against the U.S. dollar. Despite the negative press from the “Spider-Man: No Way Home” torrents with monero mining malware, seven-day statistics indicate the crypto asset has gained more than 21%. Monero Sees Double-Digit Gains Amid Mining Malware Headlines The privacy-focused digital currency monero (XMR) has seen double-digit gains this week, while most of the crypto economy has suffered losses and seen a period of consolidation. Just recently, XMR made headlines after a…

Crypto markets ‘between a rock and a hard place,’ Peter Brandt says

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Peter Brandt, long-time trader and CEO of proprietary trading firm Factor LLC, recently gave his thoughts on the current crypto market, describing the price action stuck between two difficult giants.  “Bitcoin and Ethereum — those really, for me, is where the game is played,” Brandt told Cointelegraph in a Sept. 9 interview when asked about his thoughts on Bitcoin for the days and months ahead. As the two largest market cap assets in the crypto space, BTC and ETH each hold a large following, with their actions indicative of market…

NFT market’s RARI token sees 100% gain after CoinFund investment

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New York-based crypto investment firm CoinFund has made an undisclosed investment into the digital art-focused non-fungible token (NFT) marketplace, Rarible. According to a September 8 announcement from Rarible, funds from the pre-seed round will be used to develop a “community-governed” NFT marketplace. The Rarible platform launched earlier this year and began issuing its RARI governance token this week — with RARI doubling in price since trade commenced on Uniswap 24 hours ago. Rarible predicts that the NFT sector will see a 50% growth in capitalization to tag a $315 million…

New DeFi alliance to connect Eastern and Western DeFi markets

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Amid the ongoing craze around decentralized finance, or DeFi, a blockchain startup in China is launching a global DeFi initiative. Conflux Network, a permissionless blockchain startup, has launched a new DeFi-focused association focused on international cooperation of major industry players. Called “Open DeFi,” the new alliance aims to connect Eastern and Western DeFi markets, uniting China-based blockchain leaders and global DeFi startups to streamline cross-border market growth, sustainability and innovation.  According to a Sept. 3 announcement, the new alliance is supported by the Chinese government through the Shanghai Science and…

Looks Like DeFi is Coming to Prediction Markets

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PlotX seeks to create robust prediction markets for the burgeoning DeFi space by taking a slightly different approach than Augur and other similar projects. Its founder Ish Goel told Cointelegrpah that his company follows in Uniswap’s footsteps: What Uniswap did for exchanges, PlotX essentially is planning to do that with prediction markets. Unlike many of its competitors, PlotX generates markets automatically and focuses on short-term predictions instead of trying to cover all durations. For every trading pair that gets added to the platform, the algorithm automatically creates hourly trading pairs…

Novogratz Says Biden and Harris Good for Country, Bad for Markets

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Galaxy Digital CEO and known Bitcoin (BTC) proponent, Mike Novogratz, said he sees upcoming financial market difficulties if Democrats take the U.S. presidential bid in November.  “Electing Biden and Harris, as much as it’s going to be great for the country, it’s not going to be great for the market,” Novogratz told Bloomberg in an Aug. 14 interview.  Following his comments on Biden’s vice president, Kamala Harris, being “fair” to Wall Street if elected, Novogratz mentioned heightened taxes from a Democratic presidential win. “The Democrats are going to be tougher…

Pomp Explains Why Mainstream Markets Are Up Amid Chaos

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Even in light of recent riots, protests, and uncertainties, mainstream U.S. financial markets show upward prices due to overarching forces, according to Morgan Creek Digital co-founder, Anthony Pompliano.  “Yes there are protests, there are all these things, but the bigger force is the fact that now all these businesses are opening up,” Pompliano said in a June 2 episode of “Lunch Money” on his YouTube channel. “There’s going to be more economic activity and there should be a recovery in that data.” Economy returning to function After weeks of shelter-in-place…

What’s Bitcoin REALLY Worth? Much Less Than You Think – CCN Markets

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New data reveals Bitcoin’s true value is way less than you probably think – but that’s not necessarily a bad thing for BTC. | Source: Shutterstock Bitcoin’s reported $172 billion market cap may be a point of pride for cryptocurrency enthusiasts everywhere, but how accurate is it as a measure of Bitcoin’s worth? Not much. In fact, new data from CoinMetrics suggests the true Bitcoin price amounts to far less than we’re led to believe. Bitcoin: ‘Market Cap’ Diverges Wildly From ‘Realized Cap’ The market cap of Bitcoin is calculated…