SEC has started to clamp down on crypto influencers and has issued several fines and cease and desist orders over the past few years.
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Bitcoin risks ‘new lows’ into monthly close as BTC price retests $27K
Bitcoin (BTC) tested $27,000 on May 31 as weakness prevailed into the monthly close.
BTC/USD 1-hour candle chart on Bitstamp. Source: TradingViewAnalyst: Bitcoin reaching “crucial area”
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it continued to lose momentum after local highs near $28,500.
As early-week excitement faded, traders and analysts warned that now was a make-or-break point for the short-term trend.
“Crucial area approaching here for Bitcoin and dipped into it,” Michaël van de Poppe, founder and CEO of trading firm Eight, summarized.
“If this zone sustains as support & Bitcoin will be able to reclaim $27,500, everything looks like we’ll continue the upwards trend. Drop beneath $26,600 and we’ll see new lows.”
XDC Network gets Japanese foothold via partnership with SBI subsidiary
After a fruitful spring season, the XDC Network (XinFin) expands its presence in the Japanese market via SBI VC Trade.
Indian banks asked 'to prepare for the future' with AI and blockchain
In an RBI-organized conference for the directors of Indian banks, deputy governor Mahesh Kumar Jain discussed risk strategies around sustainable growth and stability.
‘Bitcoin Jesus’ says Ethereum is the front-runner for global crypto adoption
Roger Ver said that Ethereum, not Bitcoin, will lead the most new users to crypto.
Nansen lays off 30% of its workforce
The CEO of Nansen cited two reasons for the layoffs, including an overly aggressive hiring phase during the bull market and the prolonged crypto bear market that followed.
Researchers propose new scheme to help courts test deanonymized blockchain data
A team of researchers proposed five “argumentative schemes” designed to protect the rights of crypto crime suspects while also helping investigators.
Bitcoin on-chain and options data hint at a decisive move in BTC price
Bitcoin’s volatility has dropped to historically low levels thanks to macroeconomic uncertainty and low market liquidity. However, on-chain and options market data allude to incoming volatility in June.
The Bitcoin Volatility Index, which measures the daily fluctuations in Bitcoin’s (BTC) price, shows that the 30-day volatility in Bitcoin’s price was 1.52%, which is less than half of the yearly averages across Bitcoin’s history, with values usually above 4%.
According to Glassnode, the expectation of volatility is a “logical conclusion” based on the fact that low volatility levels were only seen for 19.3% of Bitcoin’s price history.
The latest weekly update from the on-chain analytics firm shows that Glassnode’s monthly realized volatility metric for Bitcoin slipped below the lower bounds of the historical Bollinger Band, suggesting an incoming uptick in volatility.
Bolinger Bands for Bitcoin monthly realized volatility metric. Source: GlassnodeLong-term Bitcoin holders metric points to a price breakout
The on-chain transfer volumes of Bitcoin across cryptocurrency exchanges dropped to historically low levels. The price is also trading near short-term holder bias, indicating a “balanced position of profit and loss for new investors” that bought coins during and after the 2021-2022 bull cycle, according to the report. Currently, 50% of new investors are in profit, with the rest in loss.
Japan's largest airline launches NFT marketplace
The platform is part of Air Nippon Airways' ongoing expansion into the intersection of airlines and Web3.
Decentralized exchange PancakeSwap moves into GameFi
The DEX has partnered with BNB GameFi protocol Mobox to create a blockchain tower defense game.
Bitcoin price rejects at $28K as analysts eye CME futures gap dip
Bitcoin (BTC) fell into the May 30 Wall Street open as the return of United States equities failed to boost performance.
BTC/USD 1-hour candle chart on Bitstamp. Source: TradingViewBitcoin pauses into the monthly close
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD heading to $27,700, having briefly spiked above the $28,000 mark.
The pair encountered resistance below its local highs from around the weekly close, and stocks also treaded water after the opening bell.
The excitement around a possible deal to raise the U.S. debt ceiling, which had boosted crypto previously, also cooled as market participants waited for its first test in Congress.
“Bitcoin has been having a hard time reclaiming the weekend high,” monitoring resource Material Indicators summarized in part of an analysis on the day.
LSD for DeFi: Tenet, LayerZero partner to drive cross-chain liquid staking adoption
Cross-chain interoperability protocol LayerZero’s infrastructure aims to drive liquid staking adoption across the DeFi ecosystem.
Bitcoin is on a collision course with ‘Net Zero’ promises
Each year at the annual UN Climate Change Conference (COP), individual countries are pressured to ramp up their emissions reductions promises and showcase evidence they are taking steps to meet them.
With Bitcoin mining blamed for using as much power as an entire country, and politicians searching for easy targets to strike, the industry appears to be on a collision course with these global commitments to achieve net-zero emissions.
While it’s not possible to ban Bitcoin completely, lawmakers and regulators can tank the price and make life very difficult in the years ahead for the number one cryptocurrency.
There are signs it’s already happening.
A report from the European Commission at the end of 2022 stated that EU countries “must be ready to block crypto mining,” and the trading block’s new MiCA rules were at one stage set to include a ban on Bitcoin mining. The recently adopted legislation still leaves this door ajar, however, aiming to “reduce the high carbon footprint of crypto-currencies” by making service providers “disclose their energy consumption.”
Bitcoin is on a collision course with ‘Net Zero’ promises
Every year countries are pressured to ramp up their climate change commitments at the COP conference — and Bitcoin mining is an easy target.
Security firm discovers $500M vulnerability in Tron multisig accounts
After reporting the vulnerability to Tron in February, the researchers highlighted that the issue was promptly addressed and resolved within a few days.
Bitcoin Ordinals to bridge Ethereum NFTs with the launch of BRC-721E
The BRC-721E token standard was launched by the Ordinals market along with Bitcoin Miladys to make way for traders to transfer their ERC-721 NFTs onto Ordinals.
Wintermute moves over $4M in Optimism to Binance ahead of token unlock
On-chain analytics platform Spot on Chain reported that Wintermute has already sold these tokens for $1.63 per OP.
Bitcoin Ordinals surpass 10M inscriptions as creator Rodarmor steps down
The number of Ordinals has grown from one to 10 million in less than six months.
Optimism set to unlock $587M worth of OP tokens, will investors unload?
More than 386 million OP tokens are scheduled to be unlocked on May 31, more than doubling the total circulating supply.
Laos government reportedly prioritizes blockchain technology for digital transformation
Laotian Prime Minister Sonexay Siphandone chaired the inaugural Ministerial Conference on Blockchain 4.0 Digital Transformation.