Good morning. Here’s what’s happening: Prices: Bitcoin was holding steady just below $30,000. Insights: The sad saga of Sam Bankman-Fried continues with a judge on Friday revoking the former FTX CEO’s bail. CoinDesk columnist David Morris explained why the decision was almost inevitable. Update: Judge Lewis Kaplan has now revoked Sam Bankman-Fried’s bail and returned […]
Bittrex Reaches Settlement With SEC; Agrees to Pay $24M Fine
Crypto exchange Bittrex settled charges of offering U.S. investors access to unregistered securities on Thursday, agreeing to pay a $24 million fine within two months of filing a liquidation plan for the exchange. The SEC sued Bittrex, which filed for bankruptcy in May, earlier this year, saying it simultaneously operated a securities exchange, broker and […]
Metaverse Platform Sandbox Transferred Out 60M SAND Ahead of Monday’s $133M Token Unlock
332 million SAND tokens will be unlocked Monday, worth $133 million. SAND’s 24-hour trading volume at press time stands at $74.9 million, per CoinGecko. 60 million SAND tokens were transferred out of the multisig Sandbox Genesis smart contract one week ago, according to block explorer Etherscan, a sign that the unlock had already begun. Metaverse […]
First Mover Asia: Bitcoin Is CPI Resistant
Good morning. Here’s what’s happening: Prices: Bitcoin and ether are opening flat in Asia trading, seemingly unaffected by Thursday’s Consumer Price Index numbers. Insights: Coinbase (COIN) recently likened cryptocurrencies to Beanie Babies, questioning their future in finance. Meanwhile, analysts project that real-world asset tokenization could become a $5 trillion industry, but warn that without specific […]
Matrixport’s Bitcoin Greed & Fear Index Indicates Upswing Ahead
Crypto-services provider Matrixport’s proprietary Bitcoin Greed & Fear Index, which has a solid track record of marking trend reversals, is signaling a bull revival in bitcoin (BTC) The Greed & Fear Index measures investor sentiment. Readings above 90% signal greed or excess optimism, and readings below 10% represent extreme fear or pessimism. Such indicators are […]
XRP’s Market Cap Momentarily Zoomed to Trillions of Dollars on Gemini
XRP temporarily surged to $50 on crypto exchange Gemini, which rocketed the token’s market capitalization to trillions of dollars if only for a few minutes. Prices shot up to those levels for a few minutes at 20:30 UTC on Thursday before immediately reverting to parity with the spot markets on other exchanges. The bump, which […]
Shiba Inu Bucks Bitcoin Snoozefest Ahead of Shibarium Deployment
Shiba Inu (SHIB) tokens have been among the top-performing cryptocurrencies over the past week amid low volatility conditions for bitcoin (BTC). The tokens have risen 20% over the past week, compared with nominal gains for bitcoin and ether (ETH). Among alternative currencies, higher returns were generated only by rollbit (RLB) and unibot (UNIBOT). Trading volumes […]
‘Altcoin Season’ Is Coming, Technical Analysis Suggests
The market cap of altcoins is forming a bullish inverse head-and-shoulders pattern. A potential completion of the pattern would mark the beginning of alt season, according to one trader. A bullish inverse head-and-shoulders price pattern is building in the combined market capitalization of altcoins. The term “altcoin” is short for “alternative coin” and refers to […]
PayPal’s Stablecoin Not Likely to Be Used Widely Anytime Soon: Bank of America
The launch of PayPal’s (PYPL) stablecoin PayPal USD (PYUSD) will drive payments efficiencies and an improved customer experience, but adoption of the cryptocurrency is unlikely to be significant in the near term, Bank of America said in a research report on Thursday. “Over the longer term, we expect PYUSD to experience additional adoption headwinds as […]
First Mover Americas: A ‘Head-and-Shoulders’ Case for Altcoins
This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day. Latest Prices Top Stories A bullish inverse head-and-shoulders price pattern is building in the combined market capitalization of altcoins. The term “altcoin” is short for “alternative coin” […]