Ethereum (ETH) scalability infrastructure developer Polygon has announced the rollout of a general-purpose, scalable data availability solution called Avail. According to a release issued on Monday, Polygon revealed that Avail will function as a data available tool for execution layers like sidechains, standalone networks, and layer-two protocols. One of the major hurdles for effective blockchain
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New York Federal Reserve Bank President John Williams believes the emergence of cryptocurrencies poses a significant challenge to existing regulations, highlighting the ongoing discussions policymakers are having about blockchain technology and central bank digital currencies, or CBDCs. Before central banks like the Federal Reserve can issue their own CBDC, several major questions pertaining to blockchain
The U.S. economy is looking stagnant according to data stemming from the Bureau of Economic Analysis, as core personal consumption expenditures (PCE) jumped 3.4% in May from a year prior. The recent PCE spike is the highest year-over-year basis change since 1992 and the statistic is fueling inflation concerns. Amid ‘Never Ending’ Market Rallies, Core
Ether (ETH) prices reclaimed $2,000 on Monday, increasing expectations that the latest rebound would served as a cue for further upside moves based on bullish fundamental and technical outlooks. The world’s second-largest cryptocurrency (by market cap) surged up to 4.96% to $2,083 ahead of the London opening bell. Its gains appeared as a part of
Bitcoin’s (BTC) weekend dance between $30,000 and $34,000 seems to strengthen the short-term uncertainty narrative, as JPMorgan strategists believe the cryptocurrency market is not yet healthy. A Friday note from the JPMorgan Chase team suggested that the near-term setup for Bitcoin still looks challenging. Based on the on-chain data, JPMorgan strategists said that “there is
Despite India’s uncertain regulatory climate regarding crypto assets, nationwide investments in digital assets have increased by roughly 19,900% over the past year. According to data from blockchain analytics firm Chanalysis that was reported by Bloomberg on June 28, crypto investments increased during mid-2020 before going parabolic as the markets surged into new all-time highs towards
BADGER, the governance token of Ethereum-powered Bitcoin yield protocol, BadgerDAO, will be included in Index Coop’s DeFiPulse Index (DPI) token from August. Index Coop announced the news on June 26, noting BADGER’s inclusion would be pushed back by one month due to prioritizing other upgrades. Slight Correction DeFi Pulse Index has added $BADGER to the
In a hint that Tanzania might soon reverse its 2019 crypto ban, an unnamed spokesperson of the Bank of Tanzania (BOT) recently suggested the apex bank is “working on the directives given.” The remarks by the spokesperson follow Tanzanian President Samia Suluhu Hassan’s call on the country’s finance chiefs to prepare for cryptocurrencies. BOT Move
Bitcoin (BTC) rose from a fresh $30,000 support challenge on June 27, continuing uncertain ranging which has worried traders. Bitcoin avoids sub-$30,000 “nuke” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting highs of $33,445 on Bitstamp Sunday. Saturday saw the pair drop back to $30,070, ultimately averting another dip below significant psychological support after
The U.S. core personal consumption expenditure (PCE) price index increased 0.5% in May, below market estimates of 0.6%. However, when compared year-over-year, the PCE index surged to 3.4% recording its largest gain since 1991. While the U.S. Federal Reserve expects inflation to be transitory, analysts at BofA differ in their estimation. The bank anticipates U.S.
Trading should just be a simple process of buying low and selling high but for many investors the process is more akin to rocket science. One of the most basic and easy-to-understand strategies that can help accomplish this is to identify an asset’s support and resistance levels. Once traders can spot the support and resistance
Binance, one of the world’s largest cryptocurrency exchanges, has been ordered to cease all regulated activities in the United Kingdom following a review of its operations by the nation’s Financial Conduct Authority, or FCA. “Binance Markets Limited is not permitted to undertake any regulated activity in the UK,” the FCA said in an announcement, adding
Boston Federal Reserve president Eric Rosengren discussed stablecoins in a recent presentation on June 25. Rosengren stressed that stablecoins could be a “disruptor” to prime money market funds and the Boston Fed president remarked that the exponential growth of stablecoins is concerning. Rosengren: ‘We Should Be a Bit Concerned About Stablecoin Markets Growing Very Rapidly’
Bitcoin (BTC) is definitively the “new gold” for the third richest man in Mexico, Ricardo Salinas Pliego. In a tweet on June 27, Ricardo Salinas Pliego confirmed claims that he recommends Bitcoin as an investment rather than fiat currencies or gold. Pliego reiterates Bitcoin benefits Pliego, already well known as a Bitcoin proponent, has stuck by his
While a presentation yesterday from Boston Federal Reserve President Eric Rosengren has some members of cryptoTwitter spooked at the idea of regulation and oversight, the central bank might simply be pondering the future. In a presentation titled “Financial Stability,” Rosengren identified the stablecoin Tether by name as a part of three different “Financial Stability Challenges.”
As the spotlight turns once again towards the environmental impact of blockchain technologies, support for the Crypto Climate Accord has come from curious corners of the industry, raising questions about its signatories’ motives. Authenticity of CCA’s Support Remains Debatable With concerns surrounding blockchain’s environmental impact garnering a lot of attention, the alarms have grown so