Will Symbol Help NEM Regain Its Former Glory?

Key Takeaways NEM is preparing to launch its Symbol blockchain. The new platform is aimed at enterprise applications and will include various new features. It remains to be seen whether the launch will help NEM become a high-ranking project once again. Share this article NEM, one of the earliest and most notable crypto projects, has reinvented itself by launching its new Symbol blockchain. Symbol Reinvents the NEM Blockchain Mar. 15 marks the launch of Symbol’s public mainnet. The new platform is primarily aimed at enterprise users, with emphasis on the…

Proposed FinCEN rule is a ‘grave threat to personal privacy,’ says Coin Center

After the U.S. Treasury Department extended the comment period for anyone to express their thoughts on a proposed crypto rule, non-profit crypto policy advocate group Coin Center has made another — and possibly final — argument to regulators. Coin Center directed its comment to the Financial Crimes Enforcement Network, or FinCEN, over proposed rules that would require registered crypto exchanges in the U.S. to verify the identity of people using “an unhosted or otherwise covered wallet” for a transaction of more than $3,000 and report on all crypto transactions of…

Bitcoin now the prize for this sailing event

Touted as a digital store of value with scarce supply, Bitcoin has seen its fair share of comparisons to gold over the years. Keeping up with that trend, a sailing competition called the Liberty Bitcoin Cup offers Bitcoin (BTC) as a competition prize instead of a gold trophy.   “The Liberty Bitcoin Cup is the prime cup for the Next Generation of World Class Sailors, competing on the Next Generation of High Tech Class Foil Sailing boats,” says the Liberty Bitcoin Cup’s website. “Where traditionally Gold Cups were the premier Cups…

Gas tokens gain 300% as the quest for Ethereum network alternatives expands

Network congestion and high transaction costs on the Ethereum (ETH) network have been a persistent issue for investors and developers for the past year and this has shone a spotlight on blockchain projects that offer a solution to these issues.  One class of tokens that has received a boost in both trading volume and price over the past two months are gas tokens that help power transactions on their respective blockchain networks. VTHO/USDT vs. GAS/USD vs. ONG/USDT 4-hour chart. Source: TradingView Data from Cointelegraph Markets and TradingView shows that Gas…

Crypto user offers $100K for Elon Musk’s tweet on proposed NFT

All the trendy aspects of the crypto space — non-fungible tokens, institutional adoption of Bitcoin, the quirkiness of Dogecoin — have found a home with Tesla CEO Elon Musk. In a tweet today, the billionaire claimed he would be selling a musical non-fungible token, or NFT, with lyrics based on the hype surrounding the technology: “It’s verified, it’s guaranteed.” The video clip playing the song features a pair of diamond hands underneath the moon with Shiba Inu dogs — likely a reference to Dogecoin — circling. I’m selling this song…

Bitcoin Prices Look Volatile After News of India Ban

Key Takeaways Bitcoin prices dropped from approximately $60,000 to less than $56,000 in a matter of hours. India’s looming ban on cryptocurrency may have been one factor that affected prices early Monday morning. Other factors include transfers concerning the Gemini exchange and mass liquidations of long orders. Share this article A flurry of bad news about exchange inflows and an India-wide crypto ban has apparently caused a dip in Bitcoin prices. Market data, though, suggests that the drop was caused by over-leveraged longs.  Incoming India Ban May Affect Trading On…

Bullish uptrend intact as Bitcoin futures open interest hits $22.5B

Bitcoin (BTC) price has rallied 22.5% in March, but as the price moved up, some buyers began to use excessive leverage, according to derivatives data. Meanwhile, futures open interest reached a $22.5 billion record-high, causing investors to question how sustainable the current rally is. Being optimistic, especially during a bullish market, can’t be deemed worrisome. Still, a yellow flag is raised when buyers use excessive leverage because this could lead to large liquidations during a sell-off. BTC/USD 6-hour chart. Source: TradingView After peaking at $58,300 on Feb. 21, Bitcoin faced…

Bitcoin, Ethereum May Recover With Strong Support

Key Takeaways Bitcoin holds above a crucial support level that may allow it to rebound to new all-time highs. Likewise, Ethereum sits on top of a massive demand barrier that may absorb any downward pressure.  If investor demand continues to rise, BTC could aim for $63,000 and ETH could aim for $2,500.  Share this article Bitcoin and Ethereum began this week’s trading session on a negative note as each coin’s price dropped by more than 11%. Despite the losses incurred, the technicals suggest that these cryptocurrencies are primed to recover…

Survey says Americans could spend up to $40B from stimulus on Bitcoin

Many Americans are expected to receive $1,400 checks following U.S. President Joe Biden signing a $1.9 trillion stimulus package into law last week. New polling suggests that much of these funds could end up in the crypto market. A survey released today from Mizuho Securities estimates that 10% of the roughly $400 billion in funds given directly to U.S. residents could be used to purchase Bitcoin (BTC) and stocks. The Mizuho Financial Group subsidiary surveyed 235 people with a household income under $150,000. Up to 40% of respondents said they…