Bitcoin Addresses at a Loss Hit a 2-Year High as Extreme Fear Engulfs the Market

The bearish momentum witnessed in the Bitcoin (BTC) market has made addresses at a loss to climb to a two-year high. Crypto insight provider Glassnode stated: “Number of Bitcoin addresses in Loss (7d MA) just reached a 2-year high of 15,312,636.333.” Source: Glassnode   Furthermore, nearly 41% of Bitcoin’s circulating supply is at a loss. Market analyst under the pseudonym On-Chain College explained: “7.7 million Bitcoins are currently sitting in loss. This is the highest amount since April 15th, 2020. That’s almost 41% of the total circulating…

For the crypto industry, supporting sanctions is an opportunity to rebrand

One of the first punitive measures leveled against Russia in response to the military invasion of Ukraine was the implementation of economic sanctions aimed at isolating the country from the international financial system. On March 12, Russian banks lost access to the international payments and messaging network SWIFT, and private sector payment companies, such as Visa, PayPal and Mastercard, were close behind. But while these highly regulated and publicly scrutinized organizations were quick to react to the crisis, concerns quickly mounted that the Russian state, as well as companies and…

Eve World’s all-woman Web3 platform ‘coto’ looks at participative ownership as basic tenet

Chennai: Coming up soon is ‘coto’, a Web3 social community platform exclusively shaped by women, exclusively for women. The latest offering by Eve World, entailing investment of over Rs 76 crore ($10 million), as per sources, is looking at participative ownership, a fundamental tenet of Web3, to allow the platform’s members to freely create, curate, consume and own content. The platform is aiming to have 1,000 creators on board in line with its launch timeline, said people aware of the matter. The platform will look to address present-day ills plaguing…

US Fed hikes interest rates, Bitcoin plunges below $36K, and Argentina’s central bank says no to financial institutions offering crypto: Hodler’s Digest, May 1-7

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Fed hikes interest rates by 50 basis points in effort to combat inflation On Wednesday, the United States Federal Open Market Committee (FOMC) voted to raise interest rates by 0.5%, marking its biggest upward adjustment in over two decades. It was the second rate increase…

Bitcoin clings to $36K as data suggests BTC price sell-off came from short-term holders

Bitcoin (BTC) found a new home at $36,000 into May 7 as volatility finally cooled into the weekend.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Terra down at least $250 million in crunch Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling the $36,000 mark overnight after losing 12% in just 72 hours. Still near its lowest levels since late February, the pair had nonetheless avoided a rematch of 2022 lows at the time of writing despite low-volume weekend market conditions. In his latest Twitter update on May 6, popular…

The United States turns its attention to stablecoin regulation

The United States continues to be a global leader in embracing the cryptocurrency industry thanks to the work of Sen. Patrick Toomey, with the White House being at the forefront of crypto regulation. Last year, President Joe Biden signed a $1.2 trillion bipartisan infrastructure bill — and it included some new legislation that would impact the crypto sector. And more recently, the U.S. president announced a “whole-of-government” approach to regulating cryptocurrency in an across-the-board executive order directing multiple government agencies to answer specific questions on cryptocurrencies. The U.S. for the…

Anchor Protocol rebounds sharply after falling 70% in just two months — what’s next for ANC?

Anchor Protocol (ANC) returned to its bullish form this May after plunging by over 70% in the previous two months.  Pullback risks ahead ANC’s price rebounded by a little over 42.50% between May 1 and May 6, reaching $2.26, its highest level in three weeks. Nonetheless, the token experienced a selloff on May 6 and May 7 after ramming into what appears to be a resistance confluence. That consists of a 50-day exponential moving average (50-day EMA; the red wave) and 0.786 Fib line of the Fibonacci retracement graph, drawn from…

Reclaiming your private data in Web3

As the Fair Data Society puts it, we are laborers in the data economy. Our personal data — basically, the digital blueprint of our lives — gets collected by platforms we interact with, most often in a non-transparent way. At best, it is used to improve our user experience. At worst, our privacy gets breached, monetized and even weaponized against us. It all started with the emergence and growth of the user-generated web, as seemingly free social media networks, search engines and companies saw a new opportunity of profiting and…