Day: August 5, 2022

Exactly one month ago today, bitcoin was trading below $20,000 per unit as crypto markets continued to react to growing levels of inflation and central bank policy. However, a month later, the world’s leading crypto token has moved above $23,000, despite consumer prices rising to multi-decade highs. So with this in mind, where could bitcoin potentially be heading in the next few weeks? Current Market Status July saw bitcoin (BTC) mostly consolidate between a floor of $18,900, and a ceiling of $23,600, as volatility in crypto markets was higher in…

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Last week, Democrats unveiled climate and health care legislation called the “Inflation Reduction Act,” and there’s a lot of debate over the name of the proposed public policy measures. After the legislation was revealed, 230 economists sent a letter to the country’s House and Senate leaders warning that the proposed policies will actually fuel inflation. The letter stresses that there is an urgent need to curb America’s inflationary pressures, ​​but further notes the “‘Inflation Reduction Act of 2022’ is a misleading label applied to a bill that would likely achieve…

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The now defunct and bankrupt Voyager Digital has been approved by the court to distribute $270 million in funds to creditors and affected customers. The news follows the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board ordering Voyager to remove any statements that allege Voyager is FDIC insured. The U.S. Bankruptcy Court in New York and Judge Michael Wiles have allowed Voyager’s custodian, Metropolitan Commercial bank, to release the $270 million. New York Bankruptcy Court Approves Release of $270 Million From Voyager’s Custodian The TSX-listed crypto exchange Voyager…

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The 2022 bear market has been brutal as more than $2 trillion in value has been wiped away from the crypto economy. In addition to record values lost, the crypto winter has managed to break a number of popular bitcoin price models like the rainbow price chart and Plan B’s infamous stock-to-flow model. Moreover, since May 11, 2022, the well known power-law corridor model or logarithmic growth curves chart has also broken, and it’s deviated below the lower band for roughly 86 days. A Deviation From the Norm: 2022’s Bitcoin…

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Theta network was trading at its highest point in three months on Friday, as prices broke out of a key resistance level. Today’s move comes as crypto markets were mostly higher in the session, climbing 2.86% as of writing. Near protocol rose by 17%, also recording multi-month highs. Theta Network (THETA) Theta network (THETA) was one of Friday’s notable gainers, as prices rose by nearly 16% in today’s session. Friday’s surge saw the token hit an intraday high of $1.65, which comes less than 24 hours after trading at a…

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Meta, the social media company, is planning to issue its first set of bonds to finance new investments and operations, according to reports. The company will be selling $10 billion in debt, to maintain a healthy cash flow and fund buybacks, per statements of two people with reported knowledge of the deal. Meta to Issue Bonds to Finance New Investments Meta, one of the first companies that pivoted to the metaverse as part of its main business model, is set to issue debt in order to continue to fund part…

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Ethereum rose above $1,700, while bitcoin snapped a seven-day losing streak on Friday, with prices rebounding in today’s session. The move came ahead of this afternoon’s payrolls report, which is expected to show that 250,000 jobs were added to the U.S. economy in July. Bitcoin Ahead of the nonfarm payrolls report, bitcoin (BTC) was back in the green on Friday, as the token rebounded following recent declines. Following a low of $22,485.70 in Thursday’s session, BTC/USD rallied to a peak of $23,354.13 earlier in the day. The move came as…

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Playstudios, a mobile gaming company, has recently announced it is diving into the world of Web3 gaming. The company is launching a blockchain gaming division that will introduce the concept of “rewarded play” to its users, who already enjoy real-world rewards for playing its games. Playstudios will also invest $10 million in Web3 gaming companies. Playstudios to Embrace Web3 and Blockchain Tech Playstudios, a Las Vegas-based mobile gaming company that has received more than $300 million in funding, is diving into the world of blockchain and Web3 gaming. The company,…

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PRESS RELEASE. In what many would agree is a groundbreaking achievement, StarHeroes recently obtained a Microsoft grant. As a result, the blockchain-based game now has access to Azure PlayFab, joining the legendary collection of games such as Forza Horizon, Sea of Thieves, and Tom Clancy’s Rainbow Six Siege. This grant is also indicative of the change in the attitude of major companies as an increasing number of institutional businesses, firms, and large-scale organizations have continuously expressed a fundamental interest in incorporating blockchain technology into their daily routines, services, products, and…

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The government of Kosovo has adopted measures tailored to maintain energy supply in the coming months, including a ban on cryptocurrency mining. The move comes amid a sharp increase in import prices and the restrictions can be extended for up to six months. Authorities in Kosovo Reinstate Ban on Cryptocurrency Mining The executive power in Kosovo has approved certain steps to ensure sufficient energy supplies for homes and businesses during the next weeks and months. Tass news agency reports that the respective decree has been published by the government in…

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