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Ordinals Reach 20 Million Milestone, But Bitcoin-Based NFT Sales Slide
30.7.2023
This week marked a milestone as the number of Ordinal inscriptions minted on the Bitcoin blockchain crossed the impressive 20 million threshold. But despite this achievement, Bitcoin-based non-fungible token (NFT) or Ordinal marketplace sales have witnessed a downturn since mid-July. Once...
China Faces Opposition to Rapid BRICS Expansion From India and Brazil, Report
29.7.2023
BRICS member states India and Brazil stand in the way of China’s bid to quickly expand the bloc, unveiled a media report. The two nations have different reasons to have reservations about Beijing’s plan to soon increase the organization’s geopolitical influence while they both seem to want to slow...
Bitcoin, Ethereum Technical Analysis: BTC Hangs on to $29,000 Level, Despite Increased Market Volatility
28.7.2023
Bitcoin remained above a key support point on Friday, despite bears attempting to push the price below $29,000. Today’s session saw sentiment once again shift bearish, as U.S. consumer sentiment data looms. Ethereum was mostly unchanged in today’s session. Bitcoin Bitcoin (BTC)...
Nigerian Central Bank Says Amended CBDC Model to Ensure Increased Volumes and Wallet Activity
27.7.2023
The Nigerian central bank has said it is amending the model of its central bank digital currency and is hopeful that such an exercise will result in “an increase in the volume and activity of wallet holders.” According to the acting governor, the central bank is also working towards...
Bitcoin, Ethereum Technical Analysis: BTC Consolidates, as Markets Prepare for 25-Basis-Point Fed Rate Hike
26.7.2023
Bitcoin consolidated marginally above the $29,000 level on Wednesday, ahead of today’s Federal Open Market Committee (FOMC) meeting. It is widely expected that the Fed will increase rates by 25 basis points, after holding off on hiking last month. Ethereum also remained mostly unchanged....
Bitcoin, Ethereum Technical Analysis: BTC, ETH Find Price Support Ahead of US Consumer Confidence Report
25.7.2023
Bitcoin rebounded from a one-month low Tuesday, as markets prepare for the upcoming U.S. consumer confidence report. The confidence index is expected to increase to a reading of 111.5 in July, up from 109.7 the month prior. Ethereum also bounced higher, after colliding with a key price floor....
End of Fed’s Tightening Cycle: Bernanke, Majority of Polled Economists See Terminal Rate Hike Ahead
23.7.2023
With just a four-day window to go, the U.S. Federal Reserve appears primed to raise the federal funds rate by 25-basis-points (bps) at the forthcoming Federal Open Market Committee (FOMC) meeting scheduled for Wednesday. The market presently maintains the conviction that this quarter-point uptick...
Meme Coin Economy Grows by $759M in 30 Days: DOGE and SHIB Still Dominate the Market
23.7.2023
The top meme cryptocurrency assets, as ranked by market capitalization, have increased in value by $759 million over the past 30 days. Dogecoin (DOGE), leading the pack of meme coins, has risen more than 10% in the last month. Meanwhile, the second and third largest meme coins, shiba inu (SHIB)...
SEC Chair Gensler Cites 'Wild West' of Crypto in Case to Increase Agency's Budget
19.7.2023
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Nigeria Declares Food Emergency After Sixth Consecutive Increase in Inflation Rate
19.7.2023
The Nigerian government declared a food price emergency after the latest data from the National Bureau of Statistics (NBS) showed that the country’s inflation rate had gone up by 0.38% to 22.79%. The NBS said the June inflation figure does not “fully capture the impact of the fuel...
Stock-to-Flow Analyst Plan B Predicts Bitcoin’s Price to Reach $40K-$50K at Halving
18.7.2023
In about nine months, expected near April 24, 2024, Bitcoin is set to experience its fourth block reward halving. Many supporters and market observers anticipate a price increase prior to the event. According to an anonymous market analyst known as Plan B, bitcoin’s price could ascend...
First Mover Asia: Bitcoin Hovers Near $30.3K After Expected Correction. Retail Investor Enthusiasm 'Likely to Increase': Analyst
17.7.2023
The rising flows into Toronto-based Purpose’s spot bitcoin ETF, which received approval by Canadian regulators in 2021, reflect strong appetite among retail investors for these types of products and are a promising sign for U.S. companies who have recently filed spot BTC applications with the SEC
US Inflation Hits Two-Year Low, Boosting Stocks and Precious Metals
13.7.2023
On Wednesday, July 12, 2023, the U.S. Bureau of Labor Statistics released the Consumer Price Index report for June, showing a 3% increase in inflation, the lowest level since March 2021. The U.S. inflation rate has fallen for 12 consecutive months, with the index rising 0.2% on a monthly basis....
Central Banks Reduce US Dollar Holdings, Plan to Increase Chinese Yuan Exposure, Study Shows
11.7.2023
A study by a $1.5 trillion asset management firm has revealed that central banks are reducing their U.S. dollar holdings while seeking to increase Chinese yuan holdings. “Central banks are diversifying currency holdings, stirred by geopolitical uncertainties and attractive opportunities...
Egypt Struggles With Skyrocketing Inflation and Depreciating Currency, While Bitcoin Nears Record High in the Country
11.7.2023
According to the Egyptian Statistics Bureau, Egypt’s annual inflation rate hit 36.8% in June, a staggering 33.7% increase from May’s inflation rate, breaking records. Egypt, the world’s 14th most populous country, grapples with soaring prices for goods and services across...
Bitcoin Mining Difficulty Set to Surge: Record-Breaking Increase Looms, Erasing Recent Reduction
10.7.2023
According to data recorded on July 9, 2023, Bitcoin’s next difficulty adjustment is estimated to rise between 4.74% and 7.7%, erasing the 3.26% reduction that occurred on June 28. Moreover, the total network hashrate achieved a 24-hour all-time high on July 8, reaching 538 exahash per second...
BAYC-Centric Apecoin Hits All-Time Low, Suffers 92% Decline From Last Year’s Peak
6.7.2023
In the midst of a considerable drop in the base price of non-fungible tokens (NFTs) from the Bored Ape Yacht Club, the related cryptocurrency, apecoin (APE), has likewise suffered due to the bearish trends in that specific market. While many crypto assets have seen an increase in worth over...
First Mover Americas: Cryptocurrency Trading Volumes Increase for First Time in Three Months
5.7.2023
The latest price moves in bitcoin (BTC) and crypto markets in context for July 5, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets
Xi Jinping, Vladimir Putin Push for Increased Settlements in National Currencies
5.7.2023
Chinese President Xi Jinping and Russian President Vladimir Putin have pushed for the increased use of national currencies in mutual settlements as more countries shift away from the U.S. dollar. “I consider it essential to increase the share of settlements in national currencies”...
Coinbase Shares Skyrocket Over 30% After Nasdaq and Cboe Amend Bitcoin ETF Applications
4.7.2023
During the initial half of 2023, Coinbase shares experienced a significant surge, rocketing over 30% this week as Nasdaq and Cboe refiled spot bitcoin exchange-traded fund (ETF) applications on behalf of numerous fund managers. The revisions highlighted that, upon ETF approval, Coinbase has been...