Ethereum price dips below the $1.8K support as bears prepare for Friday’s $1B options expiry

Ether’s (ETH) performance over the past three months has been less than satisfying for holders and the 50% correction since April 3 caused the altcoin to test the $1,800 support for the first time since July 2021. Ether/USD 1-day chart at Kraken. Source: TradingView Due to the volatility in stocks, investors had been seeking shelter in the United States dollar and on May 13 the DXY index reached its highest level in 20 years. DXY measures the USD against a basket of major foreign currencies, including the British Pound (GBP),…

World Bank won’t support Central African Republic’s Sango crypto hub

The World Bank has signalled its concerns over the Central African Republic (CAR) adopting Bitcoin (BTC) as a legal currency and says it won’t support the newly announced “Sango” crypto hub. At the end of April CAR president Faustin-Archange Touadéra established a regulatory framework for cryptocurrency in the country and adopted Bitcoin as a legal tender. On May 24 he announced a plan to launch the country’s first crypto hub called “Sango”. Sango is described as the country’s first “Crypto Initiative” — a legal hub for crypto related businesses encompassing…

A New Terra Network Is Coming With Support From Major Exchanges, LUNA and UST Holders Eligible for Airdropped Tokens – Bitcoin News

According to a recent announcement from the Terra blockchain team, the community voted and passed a proposal that plans to launch a new genesis version of the Terra blockchain without an algorithmic stablecoin. The governance proposal called “Terra Ecosystem Revival Plan 2” has been amended and the final release of the new Terra Core codebase has been released to prepare for the new network. Terra Ecosystem Rebirth to Happen on May 27, Latest Version of Terra Core Has Been Released and Audited On May 27, a new blockchain will launch…

Exchanges show initial support to Terra revival by listing new LUNA token

Crypto trading platforms show initial signs of support for the revival of the collapsed Terra network by listing Terra’s brand new token, also named LUNA. The HitBTC exchange took to Twitter on Wednesday to announce that Terra’s new chain token Luna will be available on its platform on May 27. The news comes amid Terraform Labs preparing to relaunch its protocol on May 27 and replace the old chain referred to as Terra Classic with the new chain called just Terra, or Terra 2.0. The new chain will not be…

OpenEthereum support ends with the Merge fast approaching

One of the most popular Ethereum (ETH) clients, OpenEthereum has ended support for its software in preparation for the upcoming Ethereum Merge. OpenEthereum creates “clients” or software used to interact with the Ethereum network allowing anyone to create an Ethereum node to mine the cryptocurrency which is currently using a proof-of-work (PoW) consensus mechanism. In a Twitter thread the OpenEthereum team explained that with the Merge approaching and the legacy codebase becoming “increasingly difficult to manage” due to its age that it was the right time to end support. OpenEthereum…

Bitcoin price may bottom at $15.5K if it retests this lifetime historical support level

Bitcoin (BTC) could be in for a return to levels not seen since before its 2020 bull market if history repeats itself. That was according to new analysis released on May 24, which studied Bitcoin’s interaction with its 200-week moving average (WMA). Bitcoin floor target could be between $15,500 and $19,000 In a Twitter thread, popular trader and analyst Rekt Capital explained how BTC/USD could behave should it fall to retest the 200WMA. A lifeline throughout Bitcoin’s history, the 200WMA is a constantly rising line of last support which has…

XRP Has Broken Below Its Long Standing Support, What’s Next?

XRP flashed lateral price movement at the time of writing. The coin register some gains over the last 24 hours however, it was quite minor. Bulls are not completely back in the market yet. For bulls to be back in the market, it is essential for XRP to move above the $0.60 mark. Technical outlook of XRP hasn’t completely pointed towards a recovery because the bears are still in charge of the price. The one day chart of the XRP has continued to depict bearishness on the chart. Over the…

Terra were offering unsustainable yields; DeFi can support financial inclusion

Reporting from the inaugural day of the Blockchain Hub Davos 2022 conference, Cointelegraph’s editor-in-chief, Kristina Lucrezia Cornèr hosted a panel discussion centered around decentralized finance (DeFi) titled “Programmable Money is Here — and It’s Changing the World as We Know It.” Panelists included chief partnership officer of SwissBorg, Alexander Fazel; Global Markets lead of Kraken Europe, Lucian Aguilar; co-founder and CEO of CasperLabs, Mrinal Monahar; and managing partner of Coral Capital, Patrick Horsman. In the opening remarks, Aguilar reflected upon his attendance of the event two years ago, assessing the…