2023-02-13
With the "Not Yet Broken" BTC Market Structure, Bitcoin Price is Poised to Rise to $22,000
The weekend saw Bitcoin move from $21,894 to $22,000 as traders and analysts cautioned against unduly pessimistic mood.
Data revealed that BTC/USD had brief spikes higher up to February 12.
According to on-chain analytics portal Material Indicators, Bitcoin was a target for opportunistic whales after hitting three-week lows the previous week.
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The Founder of Cardano (ADA) Calls the SEC Head's Staking Appeal a LIE, and Here's Why
Charles Hoskinson, the founder of Cardano and a well-known blockchain developer, expressed his displeasure with the U.S. Gary Gensler, the chairman of the Securities and Exchange Commission, on crypto regulation.
In response to the circumstances surrounding the Kraken exchange, Gensler stated that the commission is unaligned with cryptocurrencies and solely seeks to safeguard investors. The current head of the SEC advised suppliers of various crypto services to just abide with the law, register, and comply.
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Recognizing Crypto Bag Users and Their Perspectives
The paper-money economy encountered real competition for the first time since the seventh century during the internet era. When Bitcoin (BTC) made its debut in 2010, the fiat ecosystem faced challenges in both maintaining the investment ecosystem it had helped create and demonstrating its value in day-to-day transactions.
The crypto ecosystem has attracted individuals from many walks of life over time, meeting their individual financial demands and bridging the gaps left by the fiat economy. The first group of Bitcoin millionaires persuaded investors to focus on the developing ecosystem as the majority of the world stood by, seeking to understand the full potential of cryptocurrencies.
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LocalBitcoins Ceases Operations Amid the Crypto Winter, Marking the End of an Era
After more than ten years of serving its customers, one of the first and most well-known peer-to-peer Bitcoin exchanges, LocalBitcoins, will cease operations as of February 10, 2023. They claim that the decision was made as a result of the continuing crypto winter.
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DJED Stablecoin Goes Live on Cardano Mainnet
After more than a year of development, Djed, a decentralized stablecoin intended to track the US dollar, was finally released on the Cardano blockchain. Input Output, a main developer for Cardano, and Coti, a blockchain company, jointly created Djed.
In the Cardano ecosystem, Djed is intended to be used on DeFi protocols as a reliable substitute for volatile coins.
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Digital Pound Could Co-Exist with Private Stablecoins: UK Central Bank
After issuing a consultation document outlining the proposed digital pound, sometimes called as "Britcoin," the UK is one step closer to introducing a central bank digital currency (CBDC).
The Bank of England and the U.K. Treasury jointly issued the 116-page consultation paper on February 7. A technology working paper that explores the technical and financial design factors was also published.
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South Korean Authorities Searching for Do Kwon in Serbia
The Serbian government has previously been approached by South Korean officials seeking their assistance in bringing Kwon home.
Do Kwon, the contentious founder of the now-defunct Terra ecosystem, is now the target of a more determined manhunt, according to South Korean officials, who allegedly confirmed they dispatched at least two personnel to Serbia to find him.
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Binance Improves Proof-of-Reserves Verification to Include zk-SNARKs
The security and openness of the verification process are anticipated to be greatly enhanced by the zk-SNARKs inclusion.
On February 10, cryptocurrency exchange Binance announced a significant improvement to its proof-of-reserves verification process. Binance said it will now use zk-SNARKs, a cutting-edge technology that will enable it to validate its reserves in a more secure and transparent way.
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Bit2Me and Mastercard Launches Debit Card with Crypto Cashback
The new debit card draws on the technology used in the Bit2Me crypto card already in existence, but this time, cardholders are qualified for up to 9% cryptocurrency payback.
As crypto-backed debit cards gain popularity, Web2 and Web3 tools continue to converge.
The Mastercard network, which is home to millions of companies worldwide, is how the original Bit2Me card functions for its customers. With this new upgrade, customers may now receive up to 9% cryptocurrency cashback on all online and in-store transactions made with the card.
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Ethereum’s Shapella Transition “On the Horizon”
The Ethereum Foundation has reported a significant development in the progression towards the Shanghai upgrade, with the successful completion of the Shapella fork on the Zhejiang testnet. The Foundation announced that the fork has reached its final phases before the launch in a recent blog post on February 10.
As mentioned in the most recent blog article, the Shapella transition is a complete upgrade that includes numerous important features. The activation of withdrawals, a feature long awaited by the crypto community, is crucial for both stakers and the consensus layer.
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Mystery Around Tether (USDT) Reserves Solved?
In the wake of the US SEC's tight surveillance on the crypto market, it appears there are some indications about how Tether handles its reserve funds.
With reports of businesses backing its reserves, the mystery around the biggest stablecoin seems to be slowly being revealed. According to sources, the foundation for keeping Tether's reserves is a Wall Street-based company. This is crucial since worries about a lack of transparency about the stablecoin's proof of reserves have been expressed. Even though the stablecoin's creator tried to improve auditing procedures and the assets it used to back the cryptocurrency, concerns about a lack of transparency persisted.
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Elon Musk Wears Dogecoin T-Shirt to Super Bowl
At the Super Bowl, the mysterious Elon Musk, the self-described "Dogefather" and wealthy businessman, made yet another declaration of his support for Dogecoin.
The contentious Tesla CEO wore a Dogecoin T-shirt to the eagerly anticipated sporting event as he continues to promote the cryptocurrency on social media, frequently causing its value to soar.
A speculative bubble, according to critics, has been fueled by Musk's reckless actions and unwavering advocacy of the meme-inspired token.
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Thanks for reading,
J.K.
