Author: News Room
Amidst a turbulent week for cryptocurrencies, macro-economist Alex Krüger has provided a crucial breakdown of the factors leading to the market’s downturn. With a significant decline in Bitcoin’s value leading the charge, the cryptocurrency landscape has seen a ripple effect, impacting a broad spectrum of digital currencies. Here, we delve into Krüger’s analysis, enriched with additional context to offer a comprehensive overview of the current market conditions. The Leverage Effect: A Double-Edged Sword Krüger identifies excessive leverage as the primary culprit behind the market’s volatility. With Bitcoin’s price peaking at $73,794 on 14 March and subsequently falling to $61,447 by…
Bear markets are a natural part of the financial cycle, with even the most bullish periods of growth having to end in contractions. Yet each bear market has its own unique causes and conditions, as the cryptocurrency industry has already found out during the two major crypto winters it has experienced since Bitcoin’s launch in 2019. The first of these winters arrived in 2018 and the second in 2022. Both of these depressions had their own particular triggers, with the differences between them – related to market dynamics, utility and regulation – showing how far crypto has matured since its…
CrossSpace, a leading platform in the realm of social mining and content investment, has recently unveiled an exciting partnership with TOZ Universe. It is an innovative Web3 community Metaverse featuring the renowned Anipang IP. This partnership is promising for both platforms and will boost user experiences and global Web3 networks. @CSpaceOfficial🤝@TOZUniverse We are super excited to partner with TOZ Universe, a Web3 community metaverse that includes the 3D Profile Avatar (PFA) “FAM NFT” and the metaverse space “ANIPANG WORLD.” We will unlock a whole new world of NFTs & Sogafi!!!Check partnership… pic.twitter.com/1MFuQw4FGq — CrossSpace Official ⚛️ (@CSpaceOfficial) March 15, 2024…
The British Virgin Islands (BVI) is aiming to become a major hub for digital asset activities. To achieve this, the territory is working to execute rules and systems that would enable participation in the expanding digital asset market. Lorna Smith, Minister for Financial Services, Labour and Trade, recently said that the BVI is well-positioned to be a significant player in the worldwide digital asset market. She emphasized the need for a strong set of rules to manage this field, and highlighted the importance of balancing innovation with compliance of legal standards, local outlet BVI News reported Tuesday. She added that…
Metaverse Web3 game Forever Has Fallen has officially launched on the Unique Network today, combining elements of storytelling and monetization. Players can engage with the game as Bounty Hunters in a digital universe, collecting clues, interacting with characters on social media, and discovering ‘easter eggs’, all while solving puzzles that contribute to their progression in the game. Unique is a part of the Polkadot ecosystem, where they created the non-fungible tokens (NFTs) called Bounty Hunter Tickets (BHTs), which unlock different experiences within the game. These tickets can be earned and sold in the marketplace, with the current record for the…
Ethereum (ETH) co-founder Vitalik Buterin thinks artificial intelligence (AI) could “significantly” help the top smart contract platform. Buterin says on the social media platform X he’s excited about the potential for AI-assisted formal verification of code and bug finding. “Right now Ethereum’s biggest technical risk probably is bugs in code, and anything that could significantly change the game on that would be amazing.” The famous Ethereum co-founder says he’s also excited about Verkle Trees, a data structure that can be used to upgrade Ethereum nodes. “They will enable stateless validator clients, which can allow staking nodes to run with near-zero…
Popular crypto wallet MetaMask is seeing a surge in active users. In a statement, MetaMask developer Consensys says that the wallet’s monthly active users (MAU) grew from 19 million to over 30 million between September 2023 and January 2024, representing an increase of over 55%. The current number of monthly active users nearly matches Metamask’s historical high of 31.7 million in January 2022. “This growth nearly matches the peak figures seen during the bull market in 2022.” The announcement comes after MetaMask inked a partnership with trading platform Robinhood to enable users to seamlessly buy crypto assets directly within the wallet.…
Billionaire and founder of Tron (TRX) Justin Sun is revealing his Bitcoin (BTC) holdings on crypto exchange HTX. Sun tells his 3.5 million followers on the social media platform X that his HTX account holds 28,613 BTC, worth about $1.62 billion at time of writing. Sun is an advisor for HTX, formerly known as Huobi, and he says he is revealing his BTC holdings in response to critics saying he is not an active user of HTX. “My personal HTX account balance (just for those who are saying I’m not using HTX much)… Personally, I use almost all main exchanges…
An analyst who correctly called Bitcoin’s 2022 market bottom is warning that the BTC correction is likely not yet over. Pseudonymous analyst DonAlt tells his 529,900 followers on the social media platform X that he thinks BTC bears are in full control of the market as long as Bitcoin is trading below a key level. “Above red box ($71,000-$73,000) giga bull continues. Above red line ($68,500) is a bit of a toss-up. Below the red line assuming down. Now that the daily [candle] closed, there is technically a short setup on the monthly, weekly, and the daily timeframe. Bears got…
An investor who accurately called Bitcoin’s (BTC) 2022 bear market bottom says he’s extremely bullish on one smart contract protocol. Venture capitalist and crypto investor Chris Burniske tells his 285,400 followers on the social media platform X that Ethereum (ETH) has cemented its status as a “credible settlement layer for crypto assets.” According to Burniske, other layer-1 protocols such as Solana (SOL) and Avalanche (AVAX) are at a point where they’re contending to reach Ethereum’s level. “Despite being most vocal about SOL in the last bear given its distressed levels, and the already known problems being highlighted regarding Ethereum UX…