Bitcoin (BTC) fell sharply after the May 24 Wall Street open as a “long awaited retest” of key trend lines materialized. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Bitcoin abandons uptick to retest moving averages Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $26,154 on Bitstamp — its lowest since May 12. The latest action was a …
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DeFi protocol Voltz launches SOFR swaps on Avalanche
Decentralized finance protocol Voltz now allows Avalanche users to trade interest rate swaps of the Secured Overnight Financing Rate (SOFR), a benchmark dollar rate used throughout the global economy. The new feature allows investors to hedge their exposure to interest rate changes and speculators to bet on whether the rate will go up or down, according to a May 24 …
Read More »Shaping the future of Web3 employment: Intropia joins Cointelegraph Accelerator
The nascent nature of the Web3 landscape, along with the complexity of technical skills involved in crypto and blockchain-related jobs, makes it hard for a majority of companies to find the right talent. On the other hand, Web3 professionals also have difficulty looking for new opportunities on mainstream job platforms designed mainly for Web2 careers. Even when there’s an ideal …
Read More »Why Bitcoin is stuck below $28,000 resistance
On May 23’s episode of The Market Report, analyst and writer Marcel Pechman discusses why Bitcoin (BTC) is stuck near $27,000 and how the macroeconomic scenario has become more critical than ever for an eventual breakout. Plus, the show dissects what United States President Joe Biden has been saying about crypto traders being wealthy tax cheaters. The first news article …
Read More »$160K at next halving? Model counts down to new Bitcoin all-time high
Bitcoin (BTC) price action may lack momentum this month, but one popular analyst is still eyeing new all-time highs. In his latest analysis, TechDev confirmed that he believes BTC/USD will see a “parabolic top” around the 2024 block subsidy halving. Can Bitcoin p gain 500% in a year? Less than twelve months away, Bitcoin’s next halving is already the topic …
Read More »IMF optimism in Central African Republic, despite Bitcoin adoption
The Central African Republic (CAR) has received optimism from the International Monetary Fund (IMF) one year since it adopted Bitcoin (BTC). The IMF’s positive outlook reflects the country’s economic prospects and the impact of embracing the leading cryptocurrency. The IMF published a report expressing a more positive view of the country’s economic prospects for 2023. The report indicates a projected rebound in …
Read More »Chinese city launches govt-backed metaverse platform
Nanjing City, the capital of Jiangsu Province in China, on May 22, inaugurated the China Blockchain Technology and Application Innovation Platform. This government-supported platform aims to foster and advance metaverse research and development across the country. The newly established state-backed entity is led by the Nanjing University of Information Science & Technology (NUIST). As per an announcement on NUIST’s official …
Read More »Pakistan aims to produce 1 million AI-trained IT graduates by 2027
Just days after announcing that cryptocurrencies will “never be legalized” in the country, Pakistan’s Ministry of IT & Telecom drafted a policy to spur the growth of artificial intelligence (AI). With the national AI policy, Pakistan aims to evolve into a knowledge-based economy by upskilling human capital on AI and allied technologies among other investments and initiatives. Draft National AI …
Read More »Blizzard and Adobe tap generative AI tools as ‘co-pilots’ for humans
Generative artificial intelligence tools are being rolled out by tech firms Adobe and Activision Blizzard, though each claimed the AI tools are there to assist humans in creating content and will not replace jobs. On May 23, graphic software giant Adobe launched “Generative Fill” which will allow users to “generate content from inside Photoshop with a text prompt.” Dream bigger …
Read More »Why is Bitcoin price stuck?
Bitcoin (BTC) continues with its sideways BTC price action under $27,000 on May 22 as the bulls and bears find it hard to break the stalemate. Which way Bitcoin? Notably, BTC price has fluctuated inside a narrowing ascending triangle range since May 11, defined by a horizontal resistance around $27,500 and a rising trendline support currently near $26,890. BTC/USD four-hour …
Read More »Hotbit exchange halts operations, urges users to withdraw funds
In an announcement, the exchange said that its operating conditions have deteriorated since a former member of its team was subjected to an investigation back in August 2022. According to the exchange, the probe forced them to stop their business for weeks. In addition, Hotbit also cited various incidents within the crypto space as contributors to its decline. The exchange …
Read More »Tornado Cash attacker to potentially give back governance control, proposal reveals
An attacker who sparked community-wide panic by hijacking the Tornado Cash governance is now proposing to undo their hack — and while not everyone feels the hacker can be trusted, they apparently have little choice in the matter. On May 21, the passage of a malicious proposal allowed the attacker to gain complete control over Tornado Cash’s governance. With total control over the …
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