A bear market is a common practice in the cryptocurrency market and everyday traders are used to it. It has been experienced for a number of times in the past and it will also happen in the future in all financial markets. The value of the assets has been depreciated by almost 70% from their…
The UK authorities have released a detailed report of how it intends to reduce the financial stability problems related to financial settlements with cryptos. The authorities saw the need for this regulation following the UST stablecoin at the beginning of this month. Before its collapse, the UST was among the top three stablecoins globally. UK…
The crypto market suffers a bloodbath, with most tokens displaying ugly performances during May’s sessions. However, there’re a few exceptions. Furthermore, the marketplace saw new coins arriving. Let us check the top recently added cryptos to consider in June this year. As a rule of the game, research whenever considering crypto investments. Digital tokens are…
UST’s demise sent tremors through the cryptocurrency world. And according to researcher Nansen, they can’t trace it back to a single perpetrator. Rather, they discovered the trades of a limited number of traders, one of whom was the Celsius Network. There were expectations for UST to preserve its USD-peg. By using algorithms and trade rewards….
A financial publishing firm, Curzio research, revealed that it paid $5M for several plots of land in the TCG metaverse. While the TCG metaverse isn’t popular, this record sale has made it popular. The previous record for purchasing any plot of land in virtual real estate was sandbox’s purchase. Sandbox bought several land plots for…
BTC mining difficulty is now 29.85 trillion from the previous 29.85 trillion. The amount represents a 4.34% drop in the asset’s mining difficulty. The drop rate of the BTC difficulty adjustment algorithm represents the asset’s second-largest in a little less than 12 months. The Relevance Of The DAA Drop Last July, the DAA drop rate…
The ATO (Australian Taxation Office) has delineated crypto capital profits among the chief areas to be concentrated on during the present year. The difference between an asset’s purchase and its sale is known as a capital loss or gain. The percentage that the ATO owes differs among the ownership duration and income brackets, however generally,…
Earlier this month, the Terra network crash resulted in an intense sell-off in the crypto market. Analysts estimate that the crypto market cap dipped by nearly $500B following the crash. All digital assets are still well off their ATHs. The Leading digital asset, BTC, continues to trade at sub-$30K levels. After the network crash, the…
Two top South Korean exchanges (Bithumb and Upbit) have issued investment warnings over Litecoin’s recent upgrade. It is noteworthy that the exchanges issued their warnings separately. Litecoin’s New Upgrade Might Contradict FATF Policy The English translation of Bithumb’s notice reads, “the Mimblewimble extension blocks (MWEB) enhances Litecoin network’s scalability. However, the developers also included a…
Bobby Ong, one of Coingecko’s founders, has predicted that the decision by the US Fed to raise rates to curtail inflation will create a huge difficulty for the crypto market at least for the next 18 months. Ong Explains The Reasons Behind His Prediction He explained that since the crypto market and stock market now…
The largest stablecoin lost its USD peg last week, which resulted in many holders converting their USDT holdings to other stablecoins or fiat. The USDT de-pegging also created intense selling pressure in the wider crypto market. Tether Holdings Ease Fears Of Usdt Holders A part of the latest quarterly report by Tether holdings was dedicated…
Polkadot price experiences a steep fall. The altcoin breached the buyer’s region on DOT’s TSI. Polkadot should climb past $14.25 to invalidate this bearish bias. Polkadot (DOT) appears weaker than most cryptos in the marketplace. For now, it may be a no home for traders. Interested individuals should give the token more time to…
93.68% of the Curve pool is made up of USDN, according to crypto writer Colin Wu’s article. Similar ratios were detected in UST’s Curve pools, indicating that the peg is below strain and that more deposits may be required to maintain equilibrium. The USDN price, which is expected to remain stable at around $1, dipped…
On Wednesday, the biggest issuers of crypto ETPs globally, 21Shares, entered the US crypto market space by launching two crypto index funds. Thus, eligible investors can gain investment exposure to digital assets regardless of whether they are large or medium-cap-sized digital assets. Details About The New Index Funds The newly launched index funds will monitor…
On Tuesday, the BaFin (Federal Ministry of Finance) issued a 24-page publication that outlined the transparent tax principles for virtual assets as well as for cryptocurrencies. Individual taxpayers, businesses, and tax practitioners at present have a straightforward way regarding the tax requirements dealing with selling, trading, as well as obtaining cryptocurrencies. The chief important factor…
Cosmos (ATOM) bears joined the space to ensure consistent pressure since the alt touched its ATH on January 7. Gradual downside moves beneath the multi-month trend-line resistance gave sellers the needed momentum to trigger trend-shifting reversals. For now, ATOM hovers at a tricky level. The 23.6% FIB resistance might reshape the short-term trend trajectory. While…
Terra’s recent collapse forced it to eliminate several applications. For instance, the blockchains hat to remove Anchor, which was the chain’s leading DeFi network at some point. Meanwhile, the protocol is worth pretty nothing for now. As these protocols proved valuable use cases, different chains, including Polygon, are chasing the platforms like vultures. Polygon Eyes…
On Monday, Terraform Labs CEO, Do Kwon, requested (via Twitter) that developers willing to support and commit to the development of the forked terra chain should indicate interest. 8/ We believe this token distribution, in addition to best efforts by LFG to make $UST holders whole, best solves for the varying interests and time preferences…
A new filing with the SEC by Sam Bankman-Fried shows that the FTX CEO has invested nearly $549M in the shares of the popular trading platform, Robinhood. His investment makes his average cost per share acquisition to be $11.53 and makes him hold 7.6% of the platform’s shares. Bankman-Fried bought the shares under his privately-owned…
While the crypto community is even now struggling to decipher the pegging-de-pegging fiasco of Terra concerning the stablecoin offering UST (TerraUSD) thereof, Binance (a prominent crypto exchange) terminated the withdrawals for UST and LUNA (Terra) on Tuesday. Recently, the market value of the stablecoin offering of Terra (UST) plummeted to lower than the anticipated price…