Bitcoin (BTC) recovered above $48,000 on Dec. 10 after another fall took BTC/USD to lows of $47,350 overnight. Taper tantrums Data from Cointelegraph Markets Pro and TradingView showed the pair orbiting $48,300 at the time of writing as markets braced for November’s Consumer Price Index (CPI) readout. As Cointelegraph reported, economists tip this month’s year-on-year inflation
Democratic representative for California Brad Sherman joked about how ridiculous a “Mongoose Coin” would be on Wednesday — and by Friday it had become a reality. During Wednesday’s hearing on crypto at the House Financial Services Committee, Sherman spun a tale of an old woman who swallows bigger and bigger animals to eat the animals
After announcing the launch of his “Genesis Collection” nonfungible token (NFT) auction, Ross Ulbricht, the alleged founder of dark web marketplace Silk Road, has sold his first NFT for $6.2 million or 1,446 Ether (ETH) at auction. The auction kicked off at Art Basel Miami via the SuperRare platform. FreeRossDAO, the decentralized autonomous organization set
After the Chinese authorities introduced a complete ban on cryptocurrency transactions in September by equating them to illegal financial activity, local cryptocurrency miners either dropped off the radar or moved to other countries in order to continue with their business. The United States subsequently became the leader in terms of Bitcoin (BTC) mining volumes with
Executive Chairman and Co-founder of Ripple Chris Larsen has unveiled his plan for Bitcoin miners to move away from Proof of Work (PoW), saying they should view it as “a net positive for their longevity.” He argues it could provide a major boost to the share prices of listed mining firms “as any new code
Most traders have noticed that Ether (ETH) price has seriously outperformed Bitcoin (BTC) for months now and the ETH/BTC ratio has rallied more than 230% in 2021 and recently hit a new high at 0.089 BTC on Dec. 9. To put things in perspective, Ether’s $490 billion market capitalization currently represents 54% of Bitcoin’s $903
Members of Parliament (MPs) in the United Kingdom have called upon the Financial Conduct Authority (FCA) to limit the use of the word “invest” and “investment” by cryptocurrency firms for promotional purposes. According to a Dec. 9 report in The Times, MPs at the treasury select committee told FCA chief Nikhil Rathi that the use
This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. Bad news for Evergrande Even after all the regulatory crackdowns, China isn’t letting 2021 slip away without a few more blows to the
Crypto payment firm Bitpay has added support for the meme cryptocurrency shiba inu. Following Bitpay’s announcement, retail giant Newegg announced that it too has begun accepting SHIB for payments. AMC Theatres is also expected to begin accepting SHIB soon. Meanwhile, a petition for the popular trading platform Robinhood to list shiba inu crypto has garnered
$100,000 Bitcoin (BTC) and $2,000 gold could greet 2022 as global markets face “deflationary forces,” says Bloomberg Intelligence. In a tweet on Dec. 9, Mick McGlone, a senior commodity strategist at Bloomberg’s research arm, forecast that next year would be good for both gold and BTC. “Positive ramifications” for Bitcoin thanks to deflation As inflation
Crypto markets tanked again after Bitcoin (BTC) price slipped to $47,500 on Dec. 9, but most analysts agree that the price is destined to remain in the $40,000 to $55,000 range until the holiday season has passed. Data from Cointelegraph Markets Pro and TradingView shows that the early morning defense of the $50,000 support level was
Terra (LUNA) faces the prospects of hitting $100 in the coming weeks as it paints a classic bull pennant structure. In detail, bull pennants appear as the price trends inside a triangle pattern after a strong move upside. Many analysts see it as a sign of bullish continuation, i.e., they think the instrument would eventually break
Crypto startup Palm NFT Studio announced a Series B raise of $27 million on Thursday led by Microsoft’s venture fund M12. Palm NFT, cofounded by ConsenSys founder and Ethereum cofounder Joseph Lubin, provides strategic and technical services for creators to build NFT marketplaces. Other major backers include Griffin Gaming Partners, RRE, Third Kind Venture Capital, Sfermion,
Illinois Representative Marie Newman has disclosed she purchased up to $50,000 in exposure to crypto through shares of Grayscale Bitcoin Trust. According to a financial disclosure report filed with the U.S. House of Representatives on Wednesday, Congressperson Newman bought between $15,001 and $50,000 of GBTC between Nov. 9 and last Saturday. In addition, she conducted
Join Cointelegraph host and analyst Benton Yaun alongside resident market experts Jordan Finneseth and Marcel Pechman as they break down the latest news in the markets this week. Here’s what to expect in this week’s markets news breakdown: After the market news update, the hosts chat with special guest Ran Neuner, co-founder and CEO of Onchain
Ethereum scaling solution Polygon has announced it will dedicate a maximum of 250 million MATIC tokens ($627.5 million) to a deal with zero-knowledge cryptography startup Mir. Zero-knowledge algorithms enable external validators to verify encrypted transactions or documents without revealing the sensitive information hidden underneath. It is useful for complex decentralized finance applications, such as decentralized
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