Tag: Markets

Custodia Bank’s membership denied for ties with crypto markets, says US Fed

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The United States Federal Reserve released an 86-page report on March 24 detailing the reasons for denying Custodia Bank’s application for membership in January, including the bank’s involvement in the crypto space.  According to the report, the Fed’s board has raised “concerns about banks with business plans focused on a narrow sector of the economy”, with a high concentration of activities related to the crypto industry. The report notes: “Those concerns are further elevated with respect to Custodia because it is an uninsured depository institution seeking to focus almost exclusively…

DigiToads can impact crypto markets as SushiSwap did before the SEC subpoena

The hype around DeFi protocols has driven a lot of excitement and investment over the last few months. DigiToads (TOADS) could set a new course for the crypto market. The question remains: will it impact the market more than SushiSwap (SUSHI)? SushiSwap’s subpoena Earlier this week, The United States Securities and Exchanges Commission (SEC) served a subpoena on SushiSwap, a decentralized exchange (DEX), and Jared Gary, its chief executive officer (CEO). The SEC said they wanted certain documents related to a case they were investigating. What is DigiToads (TOADS)? DigiToads (TOADS) is a…

EUR/USD Hits 6-Week High, as Greenback Weakens Following Fed Hike – Markets and Prices Bitcoin News

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EUR/USD raced to a six-week high on Thursday, as markets continued to react to the U.S. Federal Reserve’s 25-basis-point rate hike. The greenback was lower across the board, falling versus several G7 currencies, including the British pound. EUR/USD On Thursday, the world’s most traded currency pair rose for a sixth straight session, as markets continued to digest yesterday’s rate hike. The Federal Reserve opted to increase rates by 0.25%, despite recent uncertainty in the banking sector. Following the announcement, Fed Chair Jerome Powell stated that “FOMC participants don’t see rate…

Cointelegraph Markets Pro delivers alerts for 113% gains from 5 trades in the face of 10% BTC drop

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In Cointelegraph Markets Pro’s latest VORTECS™ Report, the institutional-grade crypto trading platform displayed how its members could have captured a cumulative 113% gain by following five trades based on three different advanced data indicators. The report depicts trading alerts generated between March 5 – 10, 2023.  The potential gains available to Cointelegraph Markets Pro subscribers significantly outperform a simple buy-and-hold strategy during the same period, which would’ve yielded holders of Bitcoin (BTC) a loss of 10%. Cointelegraph Markets Pro uses indicators such as the VORTECS™ Score, NewsQuakes™ and Tweet Volume…

Anticipation Spurs IOU Markets for Arbitrum’s Native Cryptocurrency Asset – Markets and Prices Bitcoin News

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A week ago, the Ethereum layer two scaling solution Arbitrum announced the launch of its native token called ARB, and since then IOU markets have launched giving some indication of how much the token may be worth. ARB claiming begins March 23 and when people get their coins on exchanges, the token’s value may turn out to be a whole lot different. At present, ARB has been exchanging hands for $5.41 to $7.92 per unit over the past 24 hours. ARB Token Sees IOU Trade Volume but Market Value May…

Bitcoin Supercycle May Be Happening, Says Commodity Strategist Mike McGlone – Markets and Prices Bitcoin News

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Bloomberg Intelligence senior commodity strategist Mike McGlone has explained that a supercycle may be happening in bitcoin, noting that the cryptocurrency is beating gold by almost 10 times so far this year. The strategist added that if past trends hold, bitcoin’s volatility is more likely to recover compared to commodities when the crypto “heads toward new highs.” Bitcoin’s Supercycle Mike McGlone, a senior commodity strategist for Bloomberg Intelligence (BI), the research arm of Bloomberg, explained on Twitter Tuesday that a supercycle may be happening in bitcoin. He tweeted: Looking for…

Bitcoin hits new 9-month highs above $28K as markets flipflop over FOMC

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Bitcoin (BTC) headed to new nine-month highs after the March 21 Wall Street open as a crucial Federal Reserve interest rate decision loomed. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin price climbs despite conservative Fed view Data from Cointelegraph Markets Pro and TradingView showed BTC/USD approaching $28,500 on Bitstamp. The latest in a succession of multi-month highs, the latest BTC price action precedes what promises to be a volatile day for markets. The Fed will announce how far — if at all — it will hike its baseline interest…

These 3 Cointelegraph Markets Pro alerts generated a cumulative profit of over 100%

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Last week, Cointelegraph Markets Pro, an institutional-grade crypto intelligence and alerts platform, provided subscribers the opportunity to trade three coins that embarked on momentum-fueled price moves.  The advanced data analysis tools at Cointelegraph Markets Pro used three alert systems to highlight these coins. Newsquakes™, which inform traders of potentially price-moving news alerts in real time, was triggered by Sommelier (SOMM) on Friday, March 17. The Twitter Volume indicator, which measures a project’s mentions and activity on the social media platform Twitter, exposed Immutable X (IMX) as a potential candidate for…

Arbitrum IOU, Futures Markets Heat Up Ahead of ARB Token Airdrop

However, while these products are wholly speculative as of Monday, their use case might change after ARB tokens are officially issued to network participants. Traders and holders of spot ARB may then use futures products to hedge their spot holdings or gain exposure to ARB prices using a smaller amount of initial capital via leverage. Source AheadAirdropARBArbitrumFuturesHeatIOUMarketsToken CryptoX Portal

Large Ethereum Transfer of $33 Million to Binance Causes Volatility in Cryptocurrency Markets

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In a major development that has left the cryptocurrency markets reeling, a large entity transferred Ethereum (ETH) worth $33 million to Binance in a solitary transaction, sources said. This enormous movement of ETH has left the altcoin vulnerable to significant volatility, and its price has fallen by 2.18% from the $1,807 level reported earlier. The identity of the wallet owner from which the transfer was initiated is unknown, but they only had to pay a $1 transaction fee on the Ethereum blockchain. Such a substantial transfer of tokens to an…