Bitcoin dumps to hit six month lows near $38K

Bitcoin (BTC) has dumped 7.5% in the past 12 hours, plunging to 6-month lows from $43,328 at 4pm UTC yesterday to $38,258 by 4am UTC today. At the time of writing Bitcoin was trading at $38,761 according to Cointelegraph. Today’s price crash has so far wiped about $50 billion from the overall crypto market. The total crypto market cap has been on a slow decline since early November 2021 when it reached a peak of $3 billion. Without a single bombshell piece of news that many could blame the dump…

Read More

Daft Punk meets CryptoPunks as Novo faces up to NFTs – Cointelegraph Magazine

Just recently, NFT collector CryptoNovo was posing for hundreds of photos, taking meetings with top tech companies and attending scores of invitation-only parties across New York City. Today, the former-schoolteacher-turned-Metaverse-mascot is raking leaves in his suburban Illinois front yard. “Dude,” Novo remarks excitedly as he works, “That just happened.” That would be NFT.NYC, the early November conference/gathering/bacchanal that represented a coming-out party of sorts for the nonfungible token community. While NFT.NYC 2021 was the third event in what will almost certainly become a series of (at least) annual affairs, it…

Read More

Philippine Bank to Offer Bitcoin Trading: Report

The Union Bank of the Philippines is planning to offer bitcoin and cryptocurrency trading and custody services to its customers, according to a Bloomberg report. The move seeks to capitalize on the rampant adoption of such assets in the Asian nation, the report said, as the average investor in the country is expected to hold between 3% and 5% of their personal assets in cryptocurrency in five years. Currently, these figures are approximately 1% to 2%, Cathay Casas, head of the bank’s blockchain and application programming interface group, told Bloomberg.…

Read More

Bitcoin shrugs off Russia crypto ban fears as BTC price nears $43.5K

Bitcoin (BTC) surged on the Wall Street open on Jan. 20 as news that Russia was planing to “ban” cryptocurrency failed to impact price performance. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price climbs $2,500 in 24 hours Data from Cointelegraph Markets Pro and TradingView showed BTC/USD adding $1,500 over several hours on Thursday, continuing the upside move which began with a bounce off $41,000. At the time of writing, the pair was acting above $43,000, having reached highs of $43,468 on Bitstamp. That peak represented an eclipse of resistance…

Read More

Crypto.com Reveals 483 Accounts Compromised in Recent Hack — $34 Million in Bitcoin, Ether Stolen – Bitcoin News

Crypto.com has revealed that 483 user accounts were compromised in the recent hack that resulted in unauthorized withdrawals of about $34 million in cryptocurrencies, including bitcoin and ether. Nonetheless, the company stressed that customer funds were never at risk. Crypto.com’s Hack Postmortem and CEO’s Comments Crypto.com revealed Thursday the number of users affected by the unauthorized crypto withdrawals that occurred on Jan. 17 and the cryptocurrencies stolen. The company wrote: The incident affected 483 Crypto.com users. Unauthorized withdrawals totaled 4,836.26 ETH, 443.93 BTC and approximately US$66,200 in other currencies. At…

Read More

Web 3.0 needs more users, not more investors

The wide world of crypto has always been made up of people who know a lot about money. After all, cryptocurrencies themselves are financial products. The paradigm-shifting elevator pitch of Web 3.0 has always been able to pique the interest of investors, and over the last couple of years, we’ve seen an extraordinary amount of money flowing freely into the industry. Those funds have come both in the form of direct investment  —  venture capital (VC) and now decentralized autonomous organizations (DAOs)  and indirect investment — institutional acquisition of cryptocurrencies…

Read More

Maren Altman is a star – Cointelegraph Magazine

Are future prices written in the stars? Meet Maren Altman, presciently named for cryptocurrency, who combines astrology and day trading crypto into a winning blend. In 1973, Princeton University professor Burton Malkiel published his book A Random Walk Down Wall Street, in which he famously states that a “blindfolded monkey throwing darts at a newspaper’s financial pages could select a portfolio that would do just as well as one carefully selected by experts.” Fast forward to 2013, and Rob Arnott, CEO of Research Affiliates, conducted research mimicking monkeys using AI…

Read More

How Block Is Paving The Bitcoin Way

Twitter founder Jack Dorsey’s new company, Block, is leading the charge to establish technology for the Bitcoin network that builds on both the company’s mission statement and Bitcoin’s founding principles. Genesis Block “If I were not at Square or Twitter I’d be working on bitcoin.” Those are Jack Dorsey’s words from Bitcoin 2021 in Miami. In less than a year since this statement, Dorsey has left Twitter and rebranded his other major company, financial services provider Square, to Block, further cementing his belief that Bitcoin is the most important thing…

Read More

BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOT, AVAX, DOGE

Bitcoin (BTC) and select altcoins are showing signs of some buying near support levels. According to Arcane Research, the seven-day average real Bitcoin trading volume has dropped to the lowest level since July 2021. During the previous instance, the sharp drop in volume marked a bottom and led to a strong rally from August to October 2021. However, Bloomberg Intelligence senior commodity strategist McGlone warned in a recent podcast that risk assets may correct as the United States Federal Reserve increases rates and reduces asset purchases. After the corrective phase…

Read More

Crypto.com breach may be worth up to $33M, suggests onchain analyst

Onchain analyst claims that Crypto.com’s loss in the latest security breach might have been worth more than the reported $15 million. Pseudonymous ErgoBTC, an on-chain analyst at Bitcoin (BTC) research firm OXT Research, claims that the Crypto.com security breach that was said to have resulted in the loss of 4.6K ETH ($15 million), may be worth up to $33 million. Adding another 444 BTC to the previously reported 4.6k ETH from yesterday’s @cryptocom hack. Still no acknowledgement of loss, despite large outflows from the custodial wallet into ETH’s Tornado Cash…

Read More