Ether’s price (ETH) reached $1,400 on March 10, which proved to be a bargain as the cryptocurrency rallied 27.1% until March 21, at the time of writing. However, the three reasons that supported the price gain, including correlation with tech stocks, its increasing total value locked and its deflationary token economics, all suggest that the
United States Federal Reserve chairman Jerome Powell has conceded that his regulator was blindsided by the sudden collapse of Silicon Valley Bank (SVB), despite it being under their watch. In a press conference held just after the Federal Open Market Committee meeting on March 22, Powell said he immediately knew there was a need for
Bitcoin (BTC) has been sustaining above the $25,000 level for the past few days, increasing the likelihood that the bear market may have ended. Generally, in the initial stages of a new bull phase, several analysts remain in a state of disbelief and expect the resumption of the downtrend. Another group of traders continue to
Arbitrum developers announced an airdrop of its governance token, ARB, to eligible users and DAOs on the Ethereum Layer-2 platform. An average user received around 625 ARB tokens, which corresponds to around $625 to $1,250, according to pre-launch trading prices and popular estimations. The prospect of earning free money has instilled excitement around users looking
The total value locked (TVL) in decentralized finance (defi) has risen above the $50 billion mark after falling below the range throughout most of March. At present, the value locked in defi is approximately $50.34 billion, up 1.97% over the past 24 hours. Defi Value Swells Close to 2% Higher to Over $50 Billion With
Bitcoin (BTC) saw heavy volatility on March 22 as the United States Federal Reserve hinted that it may stop interest rate hikes. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Powell on rates: “‘May’ and ‘some’ instead of ‘ongoing'” Data from Cointelegraph Markets Pro and TradingView showed sharp moves both up and down for BTC/USD as the
MetaMask Institutional is set to be an avenue for the creation of new Ethereum (ETH) validators after announcing a new staking marketplace for its institutional clients. Institutions that make use of MetaMask’s institutional-grade wallet and custody service will be able to manage ETH staking through four vendors, including ConsenSys Staking, Allnodes, Blockdaemon and Kiln. The
The metaverse continues to be a hot topic in the Web3 space, as a group of industry professionals took to the Venus de Milo stage at Paris Blockchain Week 2023 to discuss the future of digital reality. In the panel “Metaverse Regulation: Dos and Don’ts,” the group discussed how regulators around the world might interpret
Cardano (ADA) rallied to its best price level in a month as cryptocurrency investors prepared for the Federal Reserve’s looming interest rate decision. Fed boosts appetite for cryptos like ADA On March 22, ADA’s price surged by as much as 4.58% to $0.388, its highest level since Feb. 24. This bucked the trend as the total
New York’s Emily Xie is exploring the new frontier of digital art by combining her skills and passion for computer science and generative art. In a little under two years, since she minted her first NFT in March 2021, she has caught the attention of prolific collectors, such as Punk6529, DC Investor and Bob Loukas,
Bitcoin moved closer to a fresh nine-month high on Wednesday, as markets prepared for today’s Federal Reserve interest rate decision. The Fed is expected to hike rates by 0.25%, despite inflation falling last month to 6%. Ethereum briefly rose above $1,800 in today’s session. Bitcoin Bitcoin (BTC) closed in on a fresh nine-month high in
Cathie Wood’s investment management firm ARK Invest is moving to take profits from its Coinbase stash, selling the first batch of Coinbase stock this year. On March 21, ARK sold 160,887 Coinbase shares from its ARK Fintech Innovation exchange-traded fund (ARKF) for $13.5 million, according to an investor notification seen by Cointelegraph. The transaction became
Regulators and industry players highlighted a number of implications and potential impacts of the European Union’s Markets in Crypto-Assets (MiCA) regulation at the Paris Blockchain Week 2023. A panel titled ‘MiCA: How is the EU Regulating Crypto?’ delved into the proposed MiCA regulation which is expected to take effect in 2024. The 400-page regulatory guideline
Russia-linked cryptocurrency exchange Bitzlato has partially restored access to user funds despite being officially seized by European authorities. Bitzlato has enabled its users to withdraw up to 50% of assets stuck on the platform due to enforcement from the United States and Europol, the firm announced on its Telegram channel on March 20. According to
Crypto executives have expressed irritation over the latest White House economic report — which notably features an entire chapter dedicated to casting doubts on the merit of digital assets. The Economic Report of the President, released March 20, marks the first time the White House has included a section on digital assets since it first
Japanese tech giant Fujitsu has filed a trademark application with the U.S. Patent and Trademark Office that covers several cryptocurrency services. The application specifically mentions “financial management of crypto assets,” “financial exchange of crypto assets,” and “financial broker services for cryptocurrency trading.” Fujitsu’s Crypto Trademark Application Fujitsu, one of the world’s largest IT service providers,
Developers from the Arbitrum Foundation announced the launch of Arbitrum DAO and its native governance token, ARB, on March 16. Eligible users and developers will receive 12.75% of the token’s total supply of 10 billion on March 23, when the token will be deployed. Speculation around ARB began soon after the token launch announcement on
The value proposition of Bitcoin (BTC) is on full display amid the current banking crisis, which will only “attract more institutions” to the BTC market over time, ARK Invest CEO Cathie Wood believes. Wood shared her thoughts on BTC’s recent price surge in a March 21 Bloomberg interview, stating its price behavior through the crisis
Bitcoin’s (BTC) price broke above the February 2023 highs of $25,200 after U.S. inflation data was in consensus with the market expectation. The potential fallout of the global banking system further promoted Bitcoin investment as a non-correlated global hedging instrument similar to gold in March. The correlation between gold and BTC has been rising since
A bankruptcy judge overseeing the bankruptcy case for crypto lending platform Celsius Network has approved a settlement plan allowing custody account holders to get back 72.5% of their crypto holdings. In a March 21 hearing, United States Bankruptcy Judge Martin Glenn signed off on an agreement allowing Celsius custody account holders the right to receive
