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Global investment bank Goldman Sachs has warned that bitcoin is increasingly vulnerable to the Federal Reserve’s rate hikes as the cryptocurrency grows more widely adopted. “Over the last two years, as bitcoin has seen wider mainstream adoption, its correlation with macro assets has picked up,” the Goldman analysts explained. Goldman Sachs Warns Bitcoin Increasingly Vulnerable to Fed Rate Hikes Global investment bank Goldman Sachs published a research note Thursday detailing bitcoin’s increased vulnerability to the Federal Reserve hiking interest rates. Zach Pandl, bank’s co-head of foreign exchange strategy, and FX analyst Isabella Rosenberg explained that as mainstream adoption of bitcoin increases, so does the cryptocurrency’s vulnerability to Fed policy. They described: Over the last two years, as bitcoin has seen wider mainstream adoption, its correlation with macro assets has picked up. Noting that higher bond yields have affected technology stocks in recent weeks, with ...

To mitigate austerity and resolve debt, Puerto Rico should follow in El Salvador’s footsteps and make bitcoin legal tender. bit.ly/3f7o14k http://dlvr.it/SJ5L7D

MULTI, SYN and CELR saw a substantial boost in price as the crypto ecosystem focused on integrating cross-chain interoperability as a new fundamental component in DeFi. from Cointelegraph.com News https://ift.tt/D9bH4ZIwc via IFTTT

Ethereum’s average network fees have dropped to the lowest value in 30 days at 0.0096 ether or $24.64 per transaction. Median-sized ethereum fees are lower today as well, as fees are between $8.37 to $10.82 per transaction as ether fees haven’t been this low since January 1. Onchain Ethereum Fees Drop, Current Bitcoin Fees 91% Cheaper Than Ethereum Fees It’s cheaper today to send ethereum ( ETH ), as network fees are 0.0096 ETH or $24.64 on average to send the second leading crypto asset. On January 30, 2022, ethereum has a 24-hour price range of around $2,575 to $2,647 per unit. Average-sized ETH fees haven’t been this low since January 1, 2022, when the average-sized fee (ASF) was $25.75 per transfer. Ethereum fees reached a high on January 10, at $52.46 per transaction and the current ASF today is 53.03% lower than the high. Median-sized fees (MSF) on Ethereum are also lower today, as the MSF on ETH on January 10, is $29.92 per transfer. Statistics show MSF on Ethereum t...

Tether has long been viewed as a problem by certain organizations as it enables bitcoin businesses to operate beyond the rails of banking. bit.ly/3f7o14k http://dlvr.it/SJ5540

LooksRare aims to be an alternative to OpenSea, but the amount of wash trading on the platform raises questions on whether users really view it as a viable competitor. from Cointelegraph.com News https://ift.tt/V5JAbYxEt via IFTTT

Dmitry Medvedev, former president and prime minister of Russia, has voiced his concerns over Bank of Russia’s initiative to ban most crypto operations. Prohibition could bring the opposite result, the Russian politician warned, joining a chorus of opinions against the restrictive policy. More Officials and Organizations Reject Central Bank’s Call to Prohibit Cryptocurrency Central Bank of Russia’s proposal to place a number of crypto-related activities outside the law has sparked a wave of reactions in Moscow. Among the critics are the Finance Ministry which put out its own regulatory concept, the State Duma where deputies are working on a new crypto law, and the government which prepared a roadmap for crypto regulation together with various departments. The central bank’s position has its reasons, Dmitry Medvedev, who now serves as deputy chairman of the Security Council of the Russian Federation, acknowledged in an interview with Russian media. The monetary authority has cited...

BTC is attempting to form a bottom while LINK, HNT, FLOW and ONE are showing early signs of accumulation. from Cointelegraph.com News https://ift.tt/JLwSPn4pk via IFTTT

Stablecoins have become prominent payment rails in the world of cryptocurrencies commanding $177 billion in fiat value today. The top ten stablecoins by market capitalization represent the largest share of the value in the fiat-pegged coin economy and many of these tokens grew exponentially last year. Terra’s UST stablecoin grew the most last year, jumping 5,431% in 2021. A Deep Dive Into Stablecoin Growth During the Course of 2021 Stablecoins today represent 9.77% of the $1.8 trillion crypto-economy today which is $177 billion in USD value. While many digital assets surged in growth last year, stablecoins also saw their market valuations swell as issuance grew month after month. Tether ( USDT ) is the top stablecoin, in terms of market capitalization with $78.3 billion. USDT alone represents 4.32% of the entire crypto economy’s $1.8 trillion and amid the $177 billion stablecoin economy, USDT towers over the pack by 44.24%. On January 2, 2021, tether ( USDT ) had a market cap of...

Nobel Prize-winning economist Paul Krugman sees parallels between the crypto market and the subprime mortgage crash. “There’s growing evidence that the risks of crypto are falling disproportionately on people who don’t know what they are getting into and are poorly positioned to handle the downside,” he stressed. Nobel Laureate Paul Krugman Warns About Crypto Crashing Like Subprime Mortgage Nobel laureate Paul Krugman warned about cryptocurrency investing in an opinion piece he authored in the New York Times, published Thursday. Krugman won the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in 2008 “for his analysis of trade patterns and location of economic activity,” the Nobel Prize website shows. The Nobel Prize winner began by acknowledging that “crypto has become a pretty big asset class,” noting that the market value of all cryptocurrencies reached almost $3 trillion last fall. He added that the prices of cryptocurrencies have crashed, “wiping out arou...

Is Bitcoin susceptible to the Cantillon effect? To find an answer, please read this Bitcoin-Cantillon effect article. from Cointelegraph.com News https://ift.tt/2STNfXgVt via IFTTT

Robinhood has “set aggressive goals to start opening its crypto platform up to customers internationally in 2022,” the popular trading platform revealed during its Q4 earnings call. “The company believes in the immense potential of the crypto economy and sees a big opportunity in serving customers across the globe.” Robinhood’s Crypto Earnings, Expansion Plans Robinhood Markets Inc. (NASDAQ: HOOD) released its fourth quarter and full year 2021 results Thursday. The company’s total net revenues for the quarter increased 14% from the same period in 2020 to $363 million. For the year, the total net revenues increased 89% to $1.82 billion from the previous year. The trading platform’s transaction-based revenues, which include revenues from cryptocurrency trading, were $264 million in Q4 and $1.40 billion in 2021. Robinhood detailed: Cryptocurrencies for the quarter increased 304% to $48 million, compared to $12 million in the fourth quarter of 2020, and for the year increased to $41...

The first day of Keyfest 2022 highlighted the growth of the Lightning Network and Taproot, and reflected on the future of Bitcoin. bit.ly/3f7o14k http://dlvr.it/SJ2tWL

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A roadmap on cryptocurrencies has been prepared by a number of ministries, regulatory bodies, and law enforcement agencies, Russian media reported. The document, which aims to regulate Russia’s crypto market by the end of this year, comes amid disagreements between the central bank and other government institutions about the future of decentralized digital money in Russia. Moscow Moves to Adopt Rules for Cryptocurrencies After Putin’s Call Soon after Russian President Vladimir Putin urged government officials to reach a consensus on how to regulate cryptocurrencies, Deputy Prime Minister Dmitry Chernyshenko has reportedly signed a roadmap to regulate, rather than ban, crypto operations in Russia as early as this year. The business news portal RBC broke the news, quoting a copy of the document and a source close to the working group that produced it. According to the report, the plan has been drafted by representatives of the ministries of finance, economic development and digital ...

Last week, non-fungible token (NFT) sales remained unscathed while crypto asset spot markets were dismal. However, a week later, NFT sales have dropped 13% to $800 million in sales over the last seven days. During the past week, NFT sales on the Ethereum blockchain have slipped 11.78% but Ronin blockchain-based NFT sales (Axie Infinity) dropped 47.83%. Weekly NFT Sales Slide Lower, Axie Infinity’s Ronin Sales Shed More Than 47% Statistics over the last seven days show that NFT sales are down across the 12 blockchains that produce NFTs. Cryptoslam.io shows that weekly NFT sales dipped 13% and the leading blockchain network Ethereum’s NFT sales slipped 11.78%. The second-leading blockchain in terms of NFT sales, Solana, saw its sales decrease by 16.87% during the last seven days. The third-largest blockchain network for NFT sales, Ronin, shed 47.83% this week and Flow blockchain NFT sales increased by 10.18%. 24-hour NFT marketplace metrics from dappradar.com indicate that the NFT...

Bitcoin is a return to sound money after the government overreach that led to the end of the gold standard. bit.ly/3f7o14k http://dlvr.it/SJ0RXN

On Friday, the digital currency exchange Crypto.com announced the company has inked a multi-year partnership with LeBron James and the LeBron James Family Foundation (LJFF). The crypto trading platform notes that the partnership will bolster things like “educational empowerment,” providing access to tools that help build “Web3, and the future of the internet.” LeBron James: ‘Blockchain Technology Is Revolutionizing the World’ A number of digital asset firms have been working closely with celebrities and famous athletes in order to raise brand awareness. Crypto.com has been one of those companies as it has worked with the actor Matt Damon , it recently partnered with LA’s Angel City Football Club , and the exchange acquired the naming rights to the Los Angeles Lakers’ Staples Center and renamed it to Crypto.com Arena. On January 28, the digital currency firm revealed it has signed a multi-year with the basketball star LeBron James and his charitable organization the LeBron James F...

The funds will track Fidelity proprietary Crypto Industry and Digital Payments and Metaverse indices. from Cointelegraph.com News https://ift.tt/3IRLZhT via IFTTT

LUNA price is at risk of further downside, but analysts point to a possible rebound as the altcoin tests a reliable, multi-month moving average as support. from Cointelegraph.com News https://ift.tt/3GfoTzH via IFTTT

Three months ago the crypto economy was worth more than $3 trillion and since then, digital currency prices have slid a great deal in value, as crypto assets have been sold and distributed across many hands. Over the last decade, fluctuating price cycles have made it so some addresses, typically referred to as crypto whales, have been able to accumulate vast quantities of coins. Moreover, a few crypto projects have also seen whales accumulate a majority of a token’s circulating supply via the initial distribution process. The Top 8 Crypto Assets by Concentration of Large Holders The subject of whales is a popular one in the world of cryptocurrencies, as the entities have always been a force to be reckoned with. Whales are large crypto asset holders who own more tokens than the average person, and they are called whales because their giant holdings can move markets, much like whales in the ocean that can shake up boats and cause massive waves. After more than a decade of people laun...

The Russian government is taking fast strides to regulate the bitcoin and cryptocurrency industries despite the central bank’s hard line. bit.ly/3f7o14k http://dlvr.it/SJ03hZ

Players took offense to the suggestion that gamers may not yet fully understand the benefits of NFTs. from Cointelegraph.com News https://ift.tt/3g3Tshh via IFTTT

We know the idea of Gresham's law — but it cannot be applied directly to bitcoin without some modification. bit.ly/3f7o14k http://dlvr.it/SHx8kp

So many drops, and too many missed mints? Cointelegraph has you covered when it comes to keeping a pulse on upcoming NFT projects. from Cointelegraph.com News https://ift.tt/3IGUtbp via IFTTT

Turns out that some NFTs might be building collections of their own. Their target? Your private data. from Cointelegraph.com News https://ift.tt/3AENDR5 via IFTTT

The price of cosmos ( ATOM ) continued to decline on Thursday, while sandbox rallied following its partnership with Warner Music Group. Overall, crypto prices were trading 3% lower in today’s session, after yesterday’s FOMC announcement. Biggest gainers The token sandbox (SAND) was one of Thursday’s biggest gainers, climbing by as much as 8 %, as prices rose following news of a partnership with WMG. It was announced that the partnership was made with the hopes of creating a concert venue/theme park within the metaverse. SAND/USD hit an intraday high of $3.54 on the news, which is its highest level in five days, and comes after a rally from support of $2.99. Today’s move has helped to propel SAND into the crypto top 40, replacing helium (HNT) in the process. Looking at the chart, prices have somewhat tailed off from today’s earlier highs, and now sit below a short-term ceiling of $3.57. Many now wait to see the impact this partnership will have on the future of the metaverse. ...

Bitmatrix, DIGTL, GMO Coin, Mempool, Specter, and Zaprite are now part of the 63-member group of functionaries. bit.ly/3f7o14k http://dlvr.it/SHwm29

Analysts foresee prolonged weakness in BTC and altcoins following hawkish comments from the Federal Reserve. from Cointelegraph.com News https://ift.tt/3HamTdl via IFTTT

“Facebook seems to be the antithesis of what actual consumers want their digital futures to look like,” said Subversive Capital Advisor founder Michael Auerbach. from Cointelegraph.com News https://ift.tt/3AABcWp via IFTTT

By being detail oriented and preserving the critical properties of Bitcoin, Lightning enables rapid expansion of the network's usage. bit.ly/3f7o14k http://dlvr.it/SHshK5

The regulatory body said it was "appropriate to designate a longer period" to approve or disapprove of the proposed Bitcoin ETF. from Cointelegraph.com News https://ift.tt/3G4l7Jt via IFTTT

There’s been a lot of action in the world of cryptocurrencies over the last 12 months and a myriad of metrics have changed. A recent report from forexsuggest.com shows that dogecoin fees saw the largest increase since January 1, 2021, jumping 4,230% in a year. Ethereum’s transaction fees were the most expensive at the end of 2021, as the average transfer fee was $52.45 per transaction. Dogecoin, XRP , Blackcoin Saw the Highest Transfer Fee Rises in 12 Months Digital currencies saw significant growth last year in terms of value and onchain data. The average cryptocurrency transaction fees in 2021 changed a great deal as well. A study published by forexsuggest.com highlights 15 different crypto assets in order to compare average fees and the growth over 12 months. Some of the assets chosen were relatively unknown and older cryptos such as feathercoin (FTC) and blackcoin (BLK). According to the researchers, dogecoin (DOGE) saw the largest fee increase in the year, spiking 4,230% from ...

Ahead of Wednesday’s FOMC meeting, cryptocurrency markets were once again trading higher, with polygon (MATIC) being one of today’s biggest gainers. Despite the top 20 mainly trending upward, some in this list were mainly lower during the course of the session. Biggest Gainers Polygon (MATIC) , which was one of the biggest gainers within the top 20, was up by as much as 12% in Wednesday’s session, hitting an intraday high of $1.72 in the process. The move saw MATIC/USD bounce from its support level of $1.49, and attempt to make a run for resistance at $1.77. Today’s rally saw prices rise by their most in 4-days, leading to the RSI moving from 33, to a reading of 37, which is the biggest gain in price strength since January 20th. Although there has historically been increases in price at the current rate, should MATIC/USD find its way to $1.80, market uncertainty could likely increase. Looking at the chart below, there appears to be several bearish candlesticks at this level, whi...

FRONT, DG and QSP join the list of altcoins that surged more than 40% after BTC recovered the $38,000 level. from Cointelegraph.com News https://ift.tt/3nXNZ00 via IFTTT

On January 26, the crypto asset exchange FTX US revealed it raised $400 million in a Series A financing round stemming from investors like Softbank, Paradigm, and Multicoin Capital. The Series A investment in FTX US brings the U.S.-based trading platform’s post valuation to $8 billion. FTX US Reveals $400 Million Capital Raise, Firm Aims to Expand Staff to ‘100-Strong’ Following parent company FTX raising $420.69 million three months ago, the U.S.-based trading platform FTX US announced it has raised $400 million in a Series A funding round. The Chicago-based FTX US launched in 2020 and over the last year, the exchange says it has seen its user base grow 52% quarter-over-quarter. During the last 24 hours, data shows that FTX US has seen $270.2 million or 7,139 BTC in trade volume. The $400 million investment into FTX US came from investment firms such as Lightspeed Venture Partners, Softbank Vision Fund 2, Temasek Holdings, Multicoin Capital, and Paradigm. “What this raise means...

Putin also asked the central bank and the government to come to a consensus on bitcoin regulation. bit.ly/3f7o14k http://dlvr.it/SHsGnX

Bitcoin is trading in green territory while the Nasdaq keeps sliding in anticipation of the FOMC meeting. bit.ly/3f7o14k http://dlvr.it/SHpCP9

A key risk indicator for BTC options hit its highest level in six months, possibly signaling that $32,930 was the bottom. from Cointelegraph.com News https://ift.tt/34agzUQ via IFTTT

Meme coins were higher on Tuesday, as the global cryptocurrency marketplace rebounded from recent declines in price. Both DOGE and SHIB were trading close to 7% higher during the session. In addition to the meme coins, there were several other gainers on Tuesday, as both traders and long-term investors bought the crypto dip. Biggest gainers One of today’s biggest gainers in the crypto top 20 was avalanche (AVAX), which was up by as much as 15% during the session. AVAX hit an intraday high of $68.03 on Tuesday, climbing from yesterday’s low of $59.59. Today’s rally comes 3-days after prices briefly fell below support of $59.70, dropping to a low of $53,47 over the weekend. This false breakout saw prices hit their lowest level since October 18th, before rallying to a now all-time high (ATH) slightly above $146.00. Looking at the chart below, the trendline shows that there has been long-term buying pressure, which is evident by the ascending triangle, as a result of continuous high...

Representative McHenry is convinced that Congress should take crypto regulation away from executive agencies and courts. from Cointelegraph.com News https://ift.tt/3rJY4P4 via IFTTT

While reserve-backed crypto assets and stablecoin market valuations increased a great deal during the last year, gold-backed cryptocurrencies have also seen their market caps swell. Between the tokens tether gold and pax gold, the market valuations of these two gold cryptos are nearing a billion dollars in value with $742 million today. Tether Gold’s Market Cap Swells Over 19,000% in Less Than 2 Years, While Pax Gold Increased by More Than 15,000% On February 21, 2020, the market valuation of tether gold (XAUT) was $2.1 million and 23 months later, the valuation has increased by 19,423% to $410 million. Since March 24, 2020, or 672 days ago, pax gold (PAXG) has seen its market cap grow from $2.2 million to today’s $332.7 million. The increase the gold-backed crypto token PAXG saw over the last 22 months was around 15,022%. Both projects claim to be backed by one ounce of .999 fine gold which means XAUT’s vaults should hold 223,921 ounces of fine gold. PAXG’s reserves should be ar...

21 + 21 more reasons why you should sell all of your bitcoin now. bit.ly/3f7o14k http://dlvr.it/SHnp93

Susan Wojcicki stated YouTube's intent to "help creators capitalize on emerging technologies." from Cointelegraph.com News https://ift.tt/35nQm5L via IFTTT

Bitcoin isn’t on the same playing field as anything else — so it doesn’t make sense to waste time lashing out. bit.ly/3f7o14k http://dlvr.it/SHkk5B

Even as crypto markets succumb to bearish pressure, venture capital funds are deploying millions of dollars into blockchain startups. from Cointelegraph.com News https://ift.tt/3tVTHD6 via IFTTT