A retail CBDC or “enhanced” digital money would support the singleness of money and settlement finality, Andrew Bailey said, but crypto isn’t money.
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Access real-time blockchain and cryptocurrency news updates from around the globe.
Arcadia Finance hacker used reentrancy exploit, team demands return of funds
In a post-mortem report, Arcadia Finance developers said an attacker stole funds by liquidating a vault before it could perform a health check, interrupting the app's normal flow of operations.
US lawmakers allege CCP connection in calling for SEC, DoJ investigation of Prometheum
Republican members of Congress stepped up their allegations of Prometheum's ties to the Chinese Community Party, claiming potentially false or misleading statements to the SEC.
From Thailand to South Africa, regulators tighten their grip on crypto: Law Decoded, July 3–10
South Africa’s financial regulator has announced that all crypto exchanges in the country must obtain licenses by the end of 2023.
Connext founder proposes 'Sovereign Bridged Token' standard after Multichain incident
EIP-7281 will allow token issuers to list official bridges and limit the rate at which they can mint tokens, potentially limiting losses from bridge hacks.
Connext founder proposes 'Sovereign Bridged Token' standard after Multichain incident
EIP-7281 will allow token issuers to list official bridges and limit the rate at which they can mint tokens, potentially limiting losses from bridge hacks.
Parliamentary report recommends Canada recognize, strategize blockchain industry
“Canada punches above its weight” in blockchain innovation, parliamentarians conclude, but lots more should be done to encourage the industry.
A no-fail trade? Bitcoin traders who dollar cost average are profitable
Investors who have dollar-cost-averaged into Bitcoin over time are profitable regardless of when they began implementing the strategy.
A no-fail trade? Bitcoin traders who dollar-cost average are profitable
The weighted average cost of purchased Bitcoin recently reached a level signifying that all investors who have consistently dollar-cost averaged into the leading cryptocurrency are now in the black, regardless of how long they have been holding.
This news comes despite the price of Bitcoin, as measured in U.S. dollars, still being down by over 50% from its all-time high of around $69,000.
And yet, many financial pundits in the space still cling to the notion of Bitcoin’s (BTC) entire existence and market cap of nearly $600 billion being based on a Ponzi scheme of some sort. Others continue to deny that saving in the hardest form of money ever known has, so far, been an excellent investment thesis — one that has outperformed all others.
Yes, there may be risks. And yes, volatility definitely comes with the territory. But looking at such factors in a vacuum does not make for adequate analysis of any investment. The alternative strategies available must be taken into consideration, along with other variables such as:
What is the current macro environment, and how might it change going forward? What impact might this have on different asset classes and their performance?What risk/reward ratio does one strategy offer in comparison to others?Can diversification lead to an optimized risk/return profile, or does YOLO’ing all-in provide better returns?These are just a few potential questions that could be worth investigating when it comes to arguments against dollar-cost averaging (DCAing) into BTC for the long term.
Social media discussions play a crucial role in influencing crypto returns: Study
A team of researchers at Pennsylvania State University recently analyzed to determine whether attitudes and emotionality surrounding cryptocurrency could help predict returns. What they found may stand in stark contrast to related financial markets.
According to the team’s research paper, social media plays an outsized role in adoption and activity rates while cryptocurrency journalism isn’t a great predictor of market movement:
“Our findings indicate that social media sentiment significantly predicts crypto returns, while sentiment from news media does not.”
The researchers used natural language processing to analyze millions of financial news articles and social media comments and generated sentiment scores along 53 topics and attention metrics for over 300 cryptocurrencies.
They then compared the ground truth returns over a given period of time to the coinciding news and social media sentiment.
Social media discussions play a crucial role in influencing crypto returns: Study
The researchers also determined that “news sentiment” is a much less effective predictor of cryptocurrency returns.
Price analysis 7/10: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC
The weakness in the U.S. dollar index bodes well for Bitcoin and the altcoins in the near term.
Price analysis 7/10: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC
The weakness in the U.S. Dollar Index bodes well for Bitcoin and altcoins in the near term.
Price analysis 7/10: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC
Bitcoin has been struggling to rise and sustain above the $31,000 level for the past few days, but Standard Chartered has painted a bullish picture for this year and the next. In a report, the bank said that Bitcoin (BTC) could reach $50,000 this year and stretch the rally to $120,000 by the end of next year.
Large investors seem to be taking a bullish stance and are making the most of the stagnant Bitcoin prices. Behavioral analytics platform Santiment shows that sharks and whales, entities holding between 10 and 10,000 Bitcoin, have increased their hoarding by 71,000 Bitcoin since mid-June.
Daily cryptocurrency market performance. Source: Coin360While the long term looks bullish, macroeconomic indicators hold the key in the short term. The United States equities market is likely to be influenced by the second-quarter earnings and the inflation data due to be released on July 12. That is likely to set the stage for a risk-on or a risk-off sentiment.
Could the S&P 500 Index (SPX) resume its rally over the next few days? Will Bitcoin and the altcoins follow the equities markets higher? Let’s analyze the charts to find out.
S&P 500 Index price analysis
The bulls are trying to protect the 20-day exponential moving average (4,373) but the long wick on the July 7 candlestick shows that bears are active at higher levels.
Grayscale lawyers refer to SEC allowing Volatility Shares' investment vehicle in push for ETF
According to Grayscale, the Volatility Shares ETF was an “even riskier" product than Bitcoin futures ETFs, suggesting the SEC should allow its spot crypto ETF to begin trading.
Grayscale lawyers refer to SEC allowing Volatility Shares' investment vehicle in push for ETF
According to Grayscale, the Volatility Shares ETF was an “even riskier" product than Bitcoin futures ETFs, suggesting the SEC should allow its spot crypto ETF to begin trading.
Legal proceedings start for Terraform Labs co-founder in South Korea: Report
Terra co-founder Do Kwon is currently in custody in Montenegro, while Daniel Shin's trial preparations in South Korea are reportedly underway.
48% fewer new crypto coders last year - developer report
Newcomers account for the highest percentage of developers that have left the industry over the past 12 months.
Bitcoin supply shock will send BTC price to $120K — Standard Chartered
Bitcoin miners will hoard BTC and drive up prices in the process, with BTC price due to tap $50,000 this year as a result.
Bitcoin supply shock will send BTC price to $120K — Standard Chartered
Bitcoin (BTC) is in line to hit $50,000 this year and crack all-time highs in 2024, says Standard Chartered.
In a report quoted by media outlets including Reuters on July 10, the banking giant went on record to announce a BTC price recovery.
Standard Chartered vs. 2023 BTC price: From $5,000 to $50,000
In the wake of seismic changes in the institutional approach to Bitcoin in the United States, the mainstream narrative around the largest cryptocurrency is shifting rapidly.
Standard Chartered, which just last year forecast the BTC price dropping as low as $5,000, now believes it will end the year ten times higher.
BTC/USD should reach $50,000 in 2023, the report from the global head of research and chief strategist, Geoff Kendrick, forecasts.