Day: June 23, 2022

Post Views: 210 Crypto Market Performance Crypto markets continued on a downtrend as BTC and ETH were down 30% and 44% respectively over the last 30 days. The macroeconomic outlook continues to be unfavorable for risk assets as high inflation combines with elevated commodity prices and tight U.S. labor market conditions. Adding to that, crypto…

Post Views: 115 Bitcoin hit a hurdle on hump day, as the world’s largest crypto token moved lower, following strong gains to start the week. ETH also slipped during today’s session, with prices moving back towards the $1,000 mark. Following two straight days of gains, BTC was lower on hump day, as bears seemingly re-entered…

Post Views: 112 Tencent’s Wechat intends to impose penalties on public accounts facilitating secondary trading of NFTs, a press report has revealed. Accounts offering transaction channels and guidance for cryptocurrencies have also been targeted by the new rule. The report notes that with the move, Wechat’s management is taking into account the guidelines issued by…

Post Views: 102 Tether, the company behind the largest stablecoin by market capitalization, has announced another fiat-pegged stablecoin called GBPT on Wednesday, tied to the value of the British pound sterling. The news follows Tether’s most recent launch of a Mexican peso-pegged crypto asset called MXNT. What do you think about Tether’s newly launched stablecoin…

Post Views: 108 Uniswap moved into the crypto top 20 on Wednesday, relegating MATIC, after surging by over 10% today. UNI has now gained for four straight sessions, as it approaches a key resistance point. SHIB was once again higher today, with prices hitting their highest point since May. UNI was trading higher for a…

Post Views: 149 During the past week, Bitcoin’s hashrate has dropped a few percentages after reaching 288 exahash per second (EH/s) on June 8, 2022. Bitcoin miners, however, got a break on Wednesday, June 22, as the mining difficulty dropped by 2.35% making it easier for miners to find blocks. The 2.35% drop brings the…

Post Views: 100 The Bank of International Settlements (BIS), the global body for central banks, claims the weaknesses in crypto that were pointed out before “have pretty much materialized.” BIS General Manager Agustin Carstens opined: “You just cannot defy gravity … At some point, you really have to face the music.” The Bank of International…