Mga Gabay, Kaalaman at Insight sa Crypto

Celsius Network Requires Additional Time to Resume Operations

Celsius Network, a cryptocurrency lender, announced Monday that it needed additional time to resume operations by stabilizing its liquidity and stopping activity on Twitter.　　The announcement occurred one week after the company suspended withdrawals, swaps, and transfers, citing harsh market conditions that fueled rumors of insolvency.　　Celsius Network shared its updates on its blog, saying the company would continue “working with regulators and officials regarding this pause and our companys determination to find a resolution” as a priority since its inception.　　Furthermore, the network stated that it would focus on addressing difficulties by stopping its activity on Twitter and AMAs in order for the platform to fulfill its commitments to its community.　　Nexo AG, based in Switzerland, has indicated its intent by offering a package to Celsius to acquire “certain remaining qualifying assets, primarily collateralized loan receivables secured by corresponding collateral assets, brand assets, and the businesss customer database” due on June 20 at 4:30 a.m.　　Crypto institutions are facing headwinds as a result of crypto winter and the stock markets recent dismal performance. Babel Finance, based in Hong Kong, is the latest loan platform to admit it is experiencing volatility.　　Over the weekend, major tokens also performed erratically. Bitcoin, the most valuable cryptocurrency, has fallen

2022-06-22Malalim na Pagsisid

Crypto and NFT-Linked Accounts Will be Banned on WeChat After Terms of Service Are Revised

WeChat, the Tencent-backed social messaging network in China, has announced its plans to tighten down on accounts tied to digital currencies and Non-Fungible Tokens in an indirect manner (NFTs).　　According to Colin Wu, an independent crypto journalist, the social media giant has changed its terms of service, adding a new section emphasizing its lack of support for any businesses affiliated with the digital assets industry.　　According to the revised guidelines, any account that “involves the issue, transaction, and financing of virtual currency, such as providing transaction entry, guidance, and issuance channel guidance,” among other things, would be suspended.　　Accounts that facilitate “transaction and exchange business between virtual currency and real currency, virtual currency and virtual currency; provide information intermediary and pricing services for virtual currency transactions; token issuance financing and virtual currency derivatives trading, and; provide services or content related to the secondary transaction of digital collections” are among those targeted.　　While immediate account suspension is one of the sanctions the platform will impose, it also stated that depending on the severity of the infractions, it can potentially ban any user deemed to be guilty.　　The Chinese governments crackdown on Bitcoin and the broader cryptocurrency ecosystem is not a new phenomenon. In fact, the worlds

2022-06-22Malalim na Pagsisid

Bitkub CEO: Crypto Exchanges Have a Collective Responsibility to Educate Investors

According to Topp Jirayut Srupsrisopa, CEO of Thailand-based crypto exchange Bitkub, cryptocurrency exchanges should take up the role of improving financial understanding about digital assets as part of community responsibility.　　Volatility in the cryptocurrency market has emerged as one of the most significant downside concerns. This is a point that Srupsrisopa brought up because bearish prices in cryptocurrency do not impede uptrends. He mentioned:　　“You have to differentiate between a short-term shock that is happening in the market and a long-term view.”　　For example, Bitcoin (BTC) fell below the psychological price of $20K for the first time in 18 months as a result of tightening macroeconomic conditions such as higher interest rates.　　Nonetheless, according to CoinMarketCap, the top cryptocurrency has renewed pace and reclaimed this level, as it was hanging around $21,100 during intraday trade.　　According to Srupsrisopa, crypto consumers would be able to make wise judgments with good financial education. The CEO of Bitkub stated:　　“We have always said not to put all your eggs in one basket and not to borrow money to speculate. We need to get the right financial education, not just in cryptocurrency but in the entire stock market.” 　　As Thailands largest cryptocurrency exchange, Srupsrisopa acknowledged that Bitkub welcomes the regulations

2022-06-22Malalim na Pagsisid

Bybit Introduces Grid Trading Bot

Bybit, a cryptocurrency exchange platform, has announced the introduction of its grid trading bot.　　The new grid trading tools were made available to all registered customers on June 20. Users will also be able to utilize the grid trading bot to automate their buy and sell orders and alter their investment amount, according to the company.　　“By executing low purchase orders that lead to high sell orders during a lateral price movement, the system ensures profitability each time the sale price exceeds the purchase price, eliminating the requirement for market forecasting,” Bybit explained in a statement.　　The grid trading bot aids users in implementing the Grid Trading Strategy. It allows customers to place a succession of buy and sell orders within a specified price range.　　The technique is built on the trading premise of buying cheap and selling high to profit from the difference.　　According to Bybit, their AI parameters enhance returns for our users. Users can discuss their approach with a fellow trader once they have built up their trading bot and are getting a good return, according to the business.　　“Bybits VIP users may enjoy the same trading savings utilizing the new bots, while those on their way to becoming VIPs can increase their

2022-06-22Malalim na Pagsisid

CryptoPunks Are Now the Most Actively Traded NFT Collection Amid Rising Floor Price

The Non-Fungible Token (NFT) ecosystem is being impacted by the transitory resuscitation in the broader cryptocurrency industry, which has seen the total crypto market capitalization rise by 4.47 percent to $907.97 billion at the time of writing.　　According to DappRadar data, the floor prices of the most prominent NFT collections are increasing, indicating rising feelings toward digital collectibles. This upward trend has favored the CryptoPunks NFT Collection, which is presently ranked first among all collections in terms of volume traded.　　CryptoPunks, one of the very first NFT collections developed, was ranked sixth approximately a month ago but has mainly held the top slot for the past week, according to the data platform. CryptoPunks currently has a floor price of $54.09, which has increased by around 26.3 percent in the last 24 hours.　　Over the last week, the collection has logged 312 deals totaling $21.6 million. This contrasts to Terraforms by Mathcas, which was ranked second and had a total trading volume of $13.09 million during the same time period.　　CryptoPunks also outperforms Bored Ape Yacht Club (BAYC) and the other collections linked with its parent company, Yuga Labs. Yuga Labs purchased the IP rights to the CryptoPunks collection in March of this year, as

2022-06-21Malalim na Pagsisid

Bybit Is The Latest Exchange To Reduce Its Workforce

Bybit trading platform has joined the list of cryptocurrency exchanges that have announced plans to lay off employees in order to restructure their operations in the midst of the ongoing crypto market slump.　　The platforms Chief Executive Officer, Ben Zhou, announced the latest layoff in an internal letter shared with workers. Colin Wu, a Chinese independent cryptojournalist, shared a copy of Zhous letter on Twitter, and it has been confirmed by other mainstream media sites.　　In the letter, Zhou stressed the necessity to downsize because some employees are no longer needed in light of the looming economic reality. According to Zhou, the companys employment has increased by more than 300 percent since early 2020.　　“Our organizations size had risen dramatically, but overall business growth had not,” Zhou wrote in an email. “According to the most recent employee evaluation, internal efficiency remains Bybits most pressing issue.” This suggests that, despite our expanding size, our operating efficiency has declined. Its clear that we havent made the best use of our rapidly expanding resources.　　While the letter did not specify how many employees would be laid off, Colin Wu estimated that it would be between 20 and 30 percent of the current workforce of roughly 2,000. When

2022-06-21Malalim na Pagsisid

Crypto Billionaire Blames Fed for Downturn

Cryptocurrencies are experiencing a major market fall, and the Federal Reserve is to blame, according to Sam Bankman-Fried, CEO of the FTX platform.　　“The Fed has been the primary driver of this,” Bankman-Fried remarked.　　In an interview with NPR, the FTX CEO indicated that the Fed is aggressively raising interest rates to combat excessive inflation, which has resulted in a “recalibration” of risk assumptions.　　Bankman-Fried acknowledged the difficulty of the Feds mission, saying it is “stuck between a rock and a hard place.” However, the billionaire noted that the central banks decisions in the next months will have a significant impact on his commercial prospects.　　In an effort to counteract excessive inflation, the Fed hiked interest rates by three-quarters of a percentage point last week. Financial markets have already been extremely volatile in recent months, with cryptocurrencies in full meltdown mode.　　“Markets are literally terrified. Wealthy people are terrified.” Bankman-Fried has been mentioned.　　The billionaire said that the fall might impact crypto regulation, which is now being considered in the United States. He predicted that there will be increasing scrutiny of how leverage and loan operations in the crypto business are used, as well as how transparent firms are about potential risks.　　What Does This Mean for

2022-06-21Malalim na Pagsisid

Here's Why Peter Brandt Won't Use 'Enemy' Cash to Buy Ethereum

The once-glorious digital currencies are no longer deemed such, at least in the medium term, given the current nosedive in prices and valuation.　　With the overall crypto market capitalization falling to $858.7 billion at the time of writing, the industry is undergoing a significant downturn, with Ether, the native token of the Ethereum blockchain, taking the largest damage.　　Ethereums price has dropped from its all-time high (ATH) of $4,891.70 in November 2021 to $1,065.35, after falling to a multi-year low of $896.11 over the weekend. Given this prognosis, Peter Brandt, one of the most prominent commentators in the digital currency industry, is not optimistic about the future of Ethereum.　　According to the graphic below, Brandt believes the price of Ethereum could fall as low as $300. While investors and Ethereum bulls may view this as a bearish call, analysts stated that “targets are not holy — sometimes they are hit, sometimes they are not, sometimes they are exceeded.”　　Despite his prediction and a dash of uncertainty, Brandt is not urging anyone to pile up on Ethereum at the present, stating that he would not even use his “Enemys Money” to buy Ethereum at this time.　　The digital currency ecosystem is no stranger to expert price

2022-06-20Malalim na Pagsisid

The Binance Exchange Accumulates Bitcoin as Prices Drop Below $20,000

Binance, unlike any other cryptocurrency exchange, may be taking advantage of the recent market fall to increase its Bitcoin (BTC) holdings.　　According to BitInfoCharts statistics, the trading platform may have bought up to 101,266 BTC. The credit update occurred at block 741287, with the total accumulation valued at $1.94 billion.　　Should this weekends transaction be a Buying the Dip strategy, it will further align the exchange with the position of its Chief Executive Officer, Changpeng Zhao, who stated that the firm is poised to utilize the chances in this market during these difficult times. With the newest Bitcoin addition, the Binance exchange currently owns 353,863.26595022 BTC, which is worth more than $6.78 billion.　　Several trading platforms are responding to the latest drop in various ways. While attempting to maintain its position as the industrys largest in terms of trading volume, others are not concerned with their public image in order to reduce operational expenses at this time.　　For example, Coinbase Global Inc, the Nasdaq-listed American trading platform, recently reduced its workforce by 18 percent, citing the negative impact of the present economic environment. The Gemini exchange followed suit, laying off 10% of its employees. Unlike these two rival behemoths, Binance has stated that it

2022-06-20Malalim na Pagsisid

Kraken to Follow Binance in Hiring Over 500 Employees Amid Crypto Crash

Despite rising fears about the unfolding crypto-economic catastrophe, Kraken exchange has made the audacious statement that it does not intend to lay off any employees.　　Kraken claimed in a recent blog post that many of its employees have been questioning what the current market outlook means for them, to which the exchange replied that this downturn is not the first of its sort.　　Kraken noted that it believes so strongly in the potential of the digital currency ecosystem that it has shaped its expansion to fit long-term goals rather than short-term profit-making. The trading platform stated that it intends to fill over 500 positions in the remaining months of the year.　　“We have not adjusted our hiring plan, and we do not intend to make any layoffs. We have over 500 roles to fill during the remainder of the year, and believe bear markets are fantastic at weeding out the applicants chasing hype from the true believers in our mission,” the trading platform said adding, 　　“That‘s why, despite a steep decline in crypto prices and an uncertain macro environment, we’ve taken this opportunity to align our internal culture around a set of shared values we feel will keep us agile, focused, and competitive

2022-06-20Malalim na Pagsisid

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