August 2022 / 84 posts found
149,961 Bitcoin Addresses Hold at Least 10 BTC
Despite the latest correction in the crypto market, the total number of Bitcoin whales has increased substantially in the last few months. On 18 August, the number of BTC addresses with at least 10 coins touched 149,961, which is the highest level since February 2021. In addition to the latest surge in large BTC addresses, the Bitcoin supply that was last active approximately 10 years ago touched an all-time high on Thursday. According to Glassnode, a leading on-chain analytics platform, more than 2.5 million coins were last active in 2012. In the past week, Bitcoin witnessed a sharp decline in […]
E-commerce Giant MercadoLibre Launches its Own Cryptocurrency MercadoCoin in Brazil
Bitcoin On August 18, MercadoLibre Inc, a multinational e-commerce company based in Latin America, announced the creation of a new cryptocurrency called MercadoCoin, which will be implemented in its loyalty program. As reported by Reuters, the cryptocurrency will run on the Ethereum network as an ERC-20 token priced at $0.10 each. It will be used primarily for cashback and purchases inside MercadoLibre’s platform. The developer team also hinted at opening the token to the secondary market at some point, but did not elaborate on the idea: “MercadoLibre’s cryptocurrency will be initially valued at $0.10 apiece before being open to market […]
Vitalik Buterin and Ripple’s CTO Engage in Twitter Spat Over XRP
While Ripple execs claim that the company has been unfairly treated by the SEC, Ethereum frontman Vitalik Buterin hasn’t been exactly silent either. In a fresh jibe, the latter accused the former of throwing Ethereum under the bus as “China-controlled.” The latest feud also started with a discussion of new regulatory changes in Canada with Ontario-based crypto exchanges – Bitbuy and Newton – imposing a 30,000 CAD annual “buy limit” for “restricted coins” for their users to “protect consumers” amid tightened regulations, except for altcoins – Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). This is when Buterin stepped in and […]
A Crucial Time For Bitcoin Price With FOMC Minutes Release Today
Cryptocurrency On July 27th the Federal Reserve held its Federal Open Market Committee meeting and today around 2pm EST the minutes of the meeting are said to be released. Now, with a decreased inflation rate, the market is hopeful that the Federal Reserve might slow down on its increased interest rates, yet nothing is clear. While the global market awaits the release of FOMC minutes, it’s been reported that Bitcoin withdrawal on the exchanges are seeing a rise. The Bitcoin price which was trading around $24,000 for most of the weeks, has now declined towards $23,000 level. The upcoming US […]
Bitcoin Price To Rise Or Fall? Here Is What Market Participants Expect
On August 15, the Bitcoin price touched $25,000 before sliding down towards the $24,000 range. Since then, the flagship currency has been facing a ‘pendulum’ price action movement. While market participants remain hopeful of an uptrend, the price stands on shaky grounds at the moment. Previously, Bitcoin critic Peter Schiff had predicted that the flagship currency was about to crash because he believed that the bearish market would pull down BTC all the way to the $10,000 level. Just to put the #Bitcoin rally into perspective, take a look at this chart. The pattern remains very bearish. There’s both a […]
Celsius Lost Over $100 Million In Grayscale Bitcoin Trust Trade: Financial Times Report
Cryptocurrency Summary: Celsius CEO Alex Mashinsky took over the company’s trading strategy in January 2022. Mashinsky assumed a more active role in trade decisions ahead of the FOMC meeting at the start of the year. The report explained that Mashinsky was ” slugging around huge chunks of bitcoin”. Financial Times also reported that the crypto lender faced insolvency since March 2022. Ripple has hinted at an interest in acquiring the bankrupt crypto company, per reports. Alex Mashinsky, the CEO of bankrupt crypto lender Celsius, assumed direct management of the firm’s trading strategy shortly before a U.S. Federal Reserve meeting held […]