About 72.43% of the community votes went against CoinShares' proposal to invest MakerDAO’s funds into various traditional assets
Decentral Block Post
Access real-time blockchain and cryptocurrency news updates from around the globe.
Price analysis 11/28: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT
China witnessed a spike in Covid cases and that has resulted in strict lockdown restrictions in several parts of the country. This triggered widespread protests in China and has possibly pulled the global stock markets lower.
In addition to the turmoil in China, the cryptocurrency markets, which are already in a bear grip, are reeling under pressure from the Chapter 11 bankruptcy filing by BlockFi and its subsidiaries. Bitcoin (BTC) is down 21% in November, on track to its worst November performance since 2018.
Daily cryptocurrency market performance. Source: Coin360The sharp fall in Bitcoin’s price has drastically reduced the number of wallets holding more than $1 million worth of Bitcoin. There were 112,898 millionaire wallets on Nov. 8, 2021, but Glassnode data shows that as of Nov. 25, only 23,245 wallets boast of a Bitcoin balance worth $1 million or more.
Could the weakness in the S&P 500 index (SPX) pull Bitcoin below $16,000? Let’s study the charts to find out.
SPX
The recovery in the S&P 500 index has risen close to the downtrend line. The bears are likely to defend this level as they had done on two previous occasions.
Price analysis 11/28: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT
Turmoil in China, concerns over the global economy and BlockFi’s bankruptcy filing are all weighing on crypto markets this week.
Kraken settles with US Treasury's OFAC for violating US sanctions
The U.S.-based crypto exchange agreed to pay more than $362,000 as part of a deal “to settle its potential civil liability” related to violating sanctions against Iran.
Crypto fund investment still dominated by the United States: Database
Crypto database shows that most firms are venture capital at 52.8%, followed by hedge funds with 44.3% and then private equity and mutual funds at 2.9%.
Game7 allocates $100M in open-source technology grants for Web 3.0 gaming companies
"We're looking to support teams building innovative open-source infrastructure that can accelerate the blockchain gaming space and foster collaboration," wrote Game7 in its FAQ.
BlockFi files for bankruptcy, as many expected, cites FTX collapse for its troubles
The crypto lender was previously "rescued" by FTX following the LUNA stablecoin collapse.
Bitcoin will 'teleport' to $14K or worse if BTC breaks $16K — analyst
Bitcoin faces pressure from China, a stock market trend in addition to the FTX fallout.
Bitcoin will ‘teleport’ to $14K or worse if BTC breaks $16K — Analyst
Bitcoin (BTC) hovered above $16,000 on the Nov. 28 Wall Street open as analysts diverged on what to expect from the next market move.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin spot price near key support
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD maintaining the $16,000 support level at the time of writing amid misgivings over China’s impact on risk assets.
After a modestly higher weekly close, the pair still lacked volatility as one commentator warned of a “teleport” toward $12,000 should $16,000 break.
“When it breaks below 16k, it teleports to 12k-14k,” Il Capo of Crypto insisted.
Popular Twitter account Credible Crypto asked where the volatility had gone, while Crypto Tony likewise identified $16,000 as a line in the sand for his own trading strategy.
Tokenized government bonds free up liquidity in traditional financial systems
There are a number of benefits associated with tokenized government bonds, yet adoption may take time.
Tokenized government bonds free up liquidity in traditional financial systems
There are a number of benefits associated with tokenized government bonds, yet adoption may take time.
Bitcoin is the king of crypto brand awareness for Aussies: Report
The IRCI report states that Australians still believe in Bitcoin and that the boomer demographic is growing in conviction.
Binance CEO explains 127K BTC transfer, points at proof-of-reserve audit
A few weeks ago, Binance CEO declared that exchanges moving large amounts of crypto to prove their wallet address is not good news.
Line shuts down crypto exchange to focus on blockchain and LN token
The Japanese messaging giant will still continue to support its Line blockchain ecosystem and the Link token despite the ongoing industry challenges.
How Web3 resolves fundamental problems in Web2
Web3 is the next-era internet based on decentralized architecture and some innovative concepts. Find how Web3 resolves fundamental problems in Web2.
How Web3 resolves fundamental problems in Web2
Web3 is the next-era internet based on decentralized architecture and some innovative concepts. Find how Web3 resolves fundamental problems in Web2.
FTX collapse put the Singapore government in a parliamentary hot seat
The opposition party MPs has questioned the credibility over its failure to protect retail investors from FTX collapse and had demanded data on the extent of losses incurred by the investors.
FTX collapse put the Singapore government in a parliamentary hot seat
The opposition party MPs has questioned the credibility over its failure to protect retail investors from FTX collapse and had demanded data on the extent of losses incurred by the investors.
New BTC miner capitulation? 5 things to know in Bitcoin this week
Bitcoin miners face a shakeout, one metric warns as the November monthly close looms for BTC.
New BTC miner capitulation? 5 things to know in Bitcoin this week
Bitcoin (BTC) prepares to exit a grim November just above $16,000 — what could be on the menu for BTC price this week?
In a time of what analyst Willy Woo has called “unprecedented deleveraging,” Bitcoin is far from out of the woods after losing over 20% this month.
The impact of the FTX implosion remains unknown, and warning signs continue to flow in even after the first wave of crypto business bankruptcies.
In particular this week, eyes are on miners, who are seeing profits squeezed by falling spot prices and surging hash rates.
Upheaval is in the air, and should another “capitulation” among miners occur, the entire ecosystem could be in for a further shock.
