Cryptonews

Cryptonews


Bitcoin and Ethereum Consolidate, ADA, APE, and Multiple Altcoins Rally

Posted: 13 May 2022 04:58 AM PDT

 
Bitcoin price climbed above the USD 30,000 resistance level and is currently (11:45 UTC) consolidating gains above USD 30,500. BTC jumped almost 7% in a day, trimming its weekly losses to less than 17%.
Similarly, most major altcoins are facing an uphill task. ETH recovered above USD 2,000 but struggled near USD 2,120. XRP might struggle above USD 0.450 and USD 0.465. ADA gained pace above 0.55 and faced resistance near USD 0.60.
Total market capitalization...
Read More: Bitcoin and Ethereum Consolidate, ADA, APE, and Multiple Altcoins Rally

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Diem Co-Creator Shifts Focus to Bitcoin

Posted: 13 May 2022 03:50 AM PDT

 
David Marcus, former Meta executive and co-creator of Facebook's now sold Diem project, has moved his focus to Bitcoin (BTC), unveiling a new company, Lightspark, established with the aim to explore, build and extend BTC's capabilities and utility.
"As a first step, we're actively assembling a team to dive deeper into the Lightning Network," the entrepreneur tweeted....
Read More: Diem Co-Creator Shifts Focus to Bitcoin

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Terra Blockchain Halted Again as Validators Search for ‘Plan to Reconstitute It’, Binance CEO 'Very Disappointed'

Posted: 13 May 2022 03:18 AM PDT

 
The Terra (LUNA) blockchain has been halted by network validators for the second time, after saying on Thursday that block production had been resumed again. Despite the network halt, the token continues to be traded on some exchanges.
"Terra Validators have halted the network to come up with a plan to reconstitute it. More updates to come," Terra's Twitter account posted Friday morning....
Read More: Terra Blockchain Halted Again as Validators Search for 'Plan to Reconstitute It', Binance CEO 'Very Disappointed'

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Elon Musk Puts Twitter Deal On Hold

Posted: 13 May 2022 03:02 AM PDT

 
Tesla chief Elon Musk's deal with social media giant Twitter to take over the company has been put on hold.
"Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," Musk wrote on the social media platform around 09:45 UTC on Friday....
Read More: Elon Musk Puts Twitter Deal On Hold

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It's Getting Personal - 'Broke' LUNA Investor Comes to Do Kwon’s House, Plans to Surrender to Police

Posted: 13 May 2022 12:36 AM PDT

 
A furious terra (LUNA) investor appears to have come knocking at the door of the Terra mastermind Do Kwon (also known as Kwon Do-hyeong) looking for answers after the token spectacularly collapsed. South Korean police are hunting for an unidentified person who reportedly broke into the apartment complex in which Kwon resides and rang the doorbell – but a social media star says it was him....
Read More: It's Getting Personal - 'Broke' LUNA Investor Comes to Do Kwon's House, Plans to Surrender to Police

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Bitcoin Jumps Above USD 30K, Ethereum Reclaims 2K as Tether Regains Peg, LUNA & UST Near  Zero

Posted: 12 May 2022 09:06 PM PDT

 
Bitcoin price remained well bid above USD 25,000 and started a recovery wave. It is currently (04:46 UTC) trading above the key USD 30,000 resistance zone, near USD 30,500, and is up 6% in a day, trimming its weekly losses to 17%.
USDT regained its peg after losing it yesterday. (Learn more: Market Panic Puts Tether Peg Under Pressure; Two Clues for When Bitcoin Downturn Might End)...
Read More: Bitcoin Jumps Above USD 30K, Ethereum Reclaims 2K as Tether Regains Peg, LUNA & UST Near  Zero

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Chelsea Secures First Crypto Shirt Sponsor in USD 24M Deal

Posted: 12 May 2022 05:00 PM PDT

 
Shortly after the UK seized the club from sanctioned Russian oligarch Roman Abramovich and a group of investors paid GBP 2.5bn (USD 3.1bn) for his shares, Chelsea FC is teaming up with digital asset investing platform WhaleFin under a shirt sponsorship deal for the next season.
The deal, estimated to be worth some GBP 20m (USD 24m) per year, will enable the Blues to launch their first foray into the crypto sphere, Sky News reported....
Read More: Chelsea Secures First Crypto Shirt Sponsor in USD 24M Deal

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Google Searches Show Increased Interest in Buying Bitcoin & Ethereum as Prices Fall

Posted: 12 May 2022 01:00 PM PDT

 
Data by Google Trends suggests that there is an increase in interest among people who seek to buy top cryptoassets like bitcoin (BTC) and ethereum (ETH) as prices hit multi-month lows.
The interest in search terms "should I buy bitcoin" and "should I buy ethereum" have increased by more than 70% and 50% over the past week, respectively. 
Other searches indicate an increased interest too. 
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Read More: Google Searches Show Increased Interest in Buying Bitcoin & Ethereum as Prices Fall

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Two Clues for When Bitcoin Downturn Might End

Posted: 12 May 2022 10:00 AM PDT

 
As the crypto market crash continued on Thursday, analysts told Cryptonews.com that traders should keep a close eye on the bitcoin (BTC) price on Coinbase, as well as tether's (USDT) progress towards getting back to its dollar peg, for clues about when the worst selling pressure might end.
"If [USDT] restores its peg that is a very positive sign for the market," Marcus Sotiriou, an analyst at digital asset broker GlobalBlock, told Cryptonews.com....
Read More: Two Clues for When Bitcoin Downturn Might End

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Most Wanted 'Cryptoqueen', Galaxy's Buyback, Delayed CBDC + More News

Posted: 12 May 2022 08:32 AM PDT

 
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today's crypto news.
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Read More: Most Wanted 'Cryptoqueen', Galaxy's Buyback, Delayed CBDC + More News

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UST Competitor Maker Erases Weekly Gains

Posted: 12 May 2022 07:41 AM PDT

 
The price of the stablecoin protocol Maker's governance token MKR has erased all of its gains from this week, after spiking up by close to 90% on Wednesday.
At the time of writing (12:18 UTC), MKR was trading at USD 1,117, down by 27% for the past 24 hours and down by 25% for the past 7 days....
Read More: UST Competitor Maker Erases Weekly Gains

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Small-cap Stablecoins Struggle to Maintain Peg as Crypto Market Crashes

Posted: 12 May 2022 06:00 AM PDT

 
Some smaller-cap stablecoins are struggling to maintain their targeted peg, which is mainly USD 1, amid a huge bloodbath in crypto that has wiped off billions from the market.
The development follows a depeg seen by Terra (LUNA)'s decentralized stablecoin UST, which seems to have placed the entire market into jeopardy. At 10:30 UTC, UST was down 17.5% to USD 0.4....
Read More: Small-cap Stablecoins Struggle to Maintain Peg as Crypto Market Crashes

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Bitcoin, Ethereum, and Altcoins Try to Trim Losses, LUNA Tests New Lows

Posted: 12 May 2022 05:07 AM PDT

 
Bitcoin price remained in a bearish zone below USD 30,000 support. BTC even broke the USD 27,500 support and spiked below USD 27,000. It is currently (11:47 UTC) correcting higher near USD 28,770 but is still down 9% in a day and 28% in a week.
Similarly, most major altcoins are down in double digits. ETH declined below USD 2,000 and tested USD 1,774. XRP declined 24% and tested USD 0.350. ADA tested USD 0.40 before the bulls emerged.
Total market capitalization...
Read More: Bitcoin, Ethereum, and Altcoins Try to Trim Losses, LUNA Tests New Lows

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Bitcoin Dominance Rises as ETH/BTC Breaks Down

Posted: 12 May 2022 04:40 AM PDT

 
The bitcoin (BTC) dominance – bitcoin's share of the overall crypto market capitalization – has risen sharply over the past two days, as the price of ethereum (ETH) has broken lower against BTC.
Since Wednesday this week, the bitcoin dominance has risen from under 42% to 44.3% as of Thursday at 10:23 UTC, the highest level seen since November 11 last year.
Bitcoin dominance:...
Read More: Bitcoin Dominance Rises as ETH/BTC Breaks Down

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Brazil’s Biggest Neobank Makes Bitcoin Investment & Will Let Customers Buy BTC, Ethereum

Posted: 12 May 2022 03:48 AM PDT

 
Nubank, Brazil's largest digital bank, is set to invest 1% of its portfolio in bitcoin (BTC), and will begin rolling out functions that allow its app users to buy, sell, and hold BTC and ethereum (ETH).
Per the media outlet Exame, the neobank will convert 1% of its equity to bitcoin via its holding company, Nu Holdings....
Read More: Brazil's Biggest Neobank Makes Bitcoin Investment & Will Let Customers Buy BTC, Ethereum

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LUNA Dives Below USD 0.01, UST Trends Lower Despite New Rescue Plans

Posted: 12 May 2022 03:19 AM PDT

 
The two most-discussed tokens this week - luna (LUNA) and terraUSD (UST) kept moving lower, despite the team behind these projects announcing "three more emergency actions" in an attempt to save the UST algorithmic stablecoin.
At 15:34 UTC, UST traded at USD 0.399 and was down 22% in a day. LUNA, one of the top 10 cryptoassets just a few days ago, traded at USD 0.0096 and was down 99.6% in a day. It's now ranked 143rd by market capitalization (USD 300m)....
Read More: LUNA Dives Below USD 0.01, UST Trends Lower Despite New Rescue Plans

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