After purchasing $1.5 billion worth of Bitcoin in 2021, Tesla sold 75% of it in 2022 and is now hanging onto its remaining $184 million Bitcoin stash.
Decentral Block Post
Access real-time blockchain and cryptocurrency news updates from around the globe.
3 reasons why Bitcoin traders anticipate BTC price to briefly sweep the $27.5K level
Overhead resistance levels continue to constrict Bitcoin price expansion, leading some analysts to forecast a brief sweep of the $27,500 level.
No impact from Ripple ruling? SEC chair cites risks from crypto in budget request
Gary Gensler cited the “Wild West of the crypto markets” that was “rife with noncompliance” in requesting more than $2.4 billion for the commission's 2024 fiscal budget.
Bitcoin’s bullish hype fades, but analyst says PlanB’s stock-to-flow model is still relevant
A popular Bitcoin price model returns to center stage as BTC’s next halving approaches.
Scientists warn the ‘quantum revolution’ may stagnate economic growth
There are “traps” lying in wait for innovators at the vanguard of fintech and quantum computing, according to researchers.
Price analysis 7/19: BTC, ETH, XRP, BNB, ADA, SOL, DOGE, MATIC, LTC, DOT
Bitcoin's failure to rebound off strong support levels increases the risk of a deeper correction that could also negatively impact altcoins.
Price analysis 7/19: BTC, ETH, XRP, BNB, ADA, SOL, DOGE, MATIC, LTC, DOT
After failing to sustain above the resistance of its narrow range, Bitcoin (BTC) fell near a key support on July 18. The consolidation of the past few days seems to be an accumulation phase, according to Glassnode’s Bitcoin Accumulation Trend Score. A similar score was seen during the accumulation phases between November to December and again from March to April.
According to CoinShares data, institutional investors continue to plow funds into digital asset investment products, which rose to $742 million in the past four weeks. Bitcoin continues to attract the lion’s share of the funds, with last week alone accounting for $140 million in inflows.
Daily cryptocurrency market performance. Source: Coin360Morgan Creek Capital chief investment officer and founder Mark Yusko said in an interview with Cointelegraph that Bitcoin’s fair value is $55,000 and the markets are likely to “drift upwards toward that level.” Once this level is crossed, Yusko expects speculators to step in, resulting in a blow-off top sometime in 2024.
What are the important support levels that need to hold in Bitcoin and altcoins to prevent a deeper decline? Let’s study the charts of the top-10 cryptocurrencies to find out.
Bitcoin price analysis
Bitcoin slid below the 20-day exponential moving average ($30,124) on July 17 and tested the crucial support of $29,500 on July 18. The long tail on the day’s candlestick shows that lower levels continue to attract buyers.
Price analysis 7/19: BTC, ETH, XRP, BNB, ADA, SOL, DOGE, MATIC, LTC, DOT
Bitcoin's failure to rebound off strong support levels increases the risk of a deeper correction that could also negatively impact altcoins.
Multiple spot crypto ETF applications go to Federal Register in step toward SEC approval
Publishing the ETF applications in the official journal of the U.S. government gives the SEC up to 240 days for final approval or denial — until March 2024.
Multiple spot crypto ETF applications go to Federal Register in step toward SEC approval
Publishing the ETF applications in the official journal of the U.S. government gives the SEC up to 240 days — until March 2024 — for final approval or denial.
Google Play Store officially allows NFT games, but no gambling: Nifty Newsletter, July 12–18
An on-chain tile-sliding game has been causing a massive spike in daily transactions on the Sui Network.
Bipartisan bill to regulate DeFi, crypto security risks introduced into US Senate
The bill was introduced in the evening and has not been published yet, but it is already causing a stir. Crypto Twitter calls it a “nonstarter.”
US lawmakers propose SEC chair consider legislation, not enforcement approach to crypto
Representatives French Hill and Dusty Johnson suggested the SEC may have undertaken certain actions on crypto “seemingly timed to coincide with related Congressional activity".
Bitcoin mining is becoming more environmentally friendly
Bitcoin mining is becoming more sustainable thanks to things like hydro-cooling farms and associated petroleum gas — undermining environmental criticism.
Crypto VCs share lessons on startup success at EthCC
"A multitude of expansion factors curated at the [VC] group level" helps startups get traction, says Tony Cheng of Foresight Ventures.
SEC vs. Ripple: Huge win for crypto
In the latest episode of The Market Report, Cointelegraph analyst and writer Marcel Pechman discusses Ripple’s partial victory against the Securities and Exchange Commission and its impact on the crypto market. Although people traded based on emotion after headlines popped out, the next day, as investors could process what happened, the altcoins gave away half of the gains.
On July 13, the United States District Court for the Southern District of New York ruled that Ripple’s XRP (XRP) token is not a security — but only for programmatic sales on digital asset exchanges. The question of sales to institutional investors remains an open case.
Moreover, according to a former chair of the Commodity Futures Trading Commission, Timothy Massad, the SEC could appeal the judge’s decision. Therefore, this initial win for Ripple could still be overturned.
According to Pechman, the XRP decision was a non-event in price terms. The spot Bitcoin (BTC) exchange-traded fund impact is likely the main trigger for the next 18 months, even though initially, altcoins tend to underperform relative to BTC.
Lastly, Pechman analyzes how macroeconomics and regulatory concerns might drive Bitcoin’s price to $29,000 — starting with the Bitcoin futures premium stagnating around a neutral 7% level for the past week. Next, the show covers the Tether (USDT) premium in China, which reached its lowest level in over six months, indicating excessive demand to exit crypto markets.
SEC vs. Ripple: Huge win for crypto
On this week’s episode of The Market Report, Cointelegraph’s resident expert discusses Ripple’s latest win against the SEC and what it means for the crypto market.
SEC vs. Ripple: Huge win for crypto
On this week’s episode of The Market Report, Cointelegraph’s resident expert discusses Ripple’s latest win against the SEC and what it means for the crypto market.
Tokenizing music royalties as NFTs could help the next Taylor Swift
Since 2021, pop superstar Taylor Swift has been rerecording and releasing her entire back catalog of albums in an effort to break away from her previous record label and gain greater control over her art.
The fact she has to go through such a painstaking, expensive process just to recover what most would consider rightfully hers highlights how the music industry can be a complicated, confusing place for young artists. It has a well-deserved reputation for being a space where enthusiastic musicians often unknowingly enter into unfavorable or exploitative record contracts.
“I would say maybe 10% of musicians have a good understanding, 1% of musicians have a great understanding, and 0.1% of musicians have an amazing understanding” of the legal and financial structure behind the music industry, Justin Blau tells Magazine. Also known as 3lau, Blau is a popular DJ and the founder of Royal, one of a handful of companies working to bridge the divide between the traditional music industry and blockchain.
Web3 or blockchain is often hyped up as the “Promised Land” for musicians, where the music industry will be democratized and decentralized, and where musicians will earn a larger slice of the profit pie by connecting directly with fans through NFTs.
One rising use case for “music NFTs” is tokenizing a song’s royalties, allowing fans to earn a percentage of the revenue generated by their favorite artists’ music.
Tokenizing music royalties as NFTs could help the next Taylor Swift
Since 2021, pop superstar Taylor Swift has been rerecording and releasing her entire back catalog of albums in an effort to break away from her previous record label and gain greater control over her art.
The fact she has to go through such a painstaking, expensive process just to recover what most would consider rightfully hers highlights how the music industry can be a complicated, confusing place for young artists. It has a well-deserved reputation for being a space where enthusiastic musicians often unknowingly enter into unfavorable or exploitative record contracts.
“I would say maybe 10% of musicians have a good understanding, 1% of musicians have a great understanding, and 0.1% of musicians have an amazing understanding” of the legal and financial structure behind the music industry, Justin Blau tells Magazine. Also known as 3lau, Blau is a popular DJ and the founder of Royal, one of a handful of companies working to bridge the divide between the traditional music industry and blockchain.
Web3 or blockchain is often hyped up as the “Promised Land” for musicians, where the music industry will be democratized and decentralized, and where musicians will earn a larger slice of the profit pie by connecting directly with fans through NFTs.
One rising use case for “music NFTs” is tokenizing a song’s royalties, allowing fans to earn a percentage of the revenue generated by their favorite artists’ music.