Altcoins

Turkish president orders ruling party to organize metaverse forum
Altcoins

Turkish president orders ruling party to organize metaverse forum

Turkish President Recep Tayyip Erdoğan and ruling Ak Party officials met earlier this week to discuss the metaverse, with the president calling for comprehensive research on the subject.Erdoğan has reportedly urged the Ak Party to study the metaverse, cryptocurrencies, and how transactions are made using them, according to a Daily Sabah report.At a meeting on Jan. 25, party leaders were instructed to research the phenomenon with significant ramifications for the future. The economic aspects of the metaverse, cryptocurrencies, and social media are anticipated to be addressed at a forum that will be subsequently be organized by the ruling party. In Turkey, the metaverse is gaining interest. According to some reports, thousands of virtual territories in Turkey, most of which are located ...
BTC price hits $38K as Bitcoin analysts focus on weekly close
Altcoins, Bitcoin

BTC price hits $38K as Bitcoin analysts focus on weekly close

Bitcoin (BTC) staged new retests of $38,000 resistance on Jan. 26 as optimism increased over a potential recovery to $40,000 and higher.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewNext stop a $40,000 retest?Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it continued the rebound that began on Monday.At the time of writing, two breakthroughs of $38,000 had occurred, with the pair lingering just below that level amid further direction cues.For Cointelegraph contributor Michaël van de Poppe, the signs were encouraging, with the stage being set for a potential exit from the $30,000–$40,000 corridor.“Bitcoin held $36K and tested $38K already. If that one tests again, we are likely to get a breakout and potentially test $40.7K,” he told Twitter fo...
Grayscale considers VeChain and Iota as Coinbase lists 4 low-cap coins
Altcoins

Grayscale considers VeChain and Iota as Coinbase lists 4 low-cap coins

Grayscale, the world’s largest crypto asset manager, has added 25 coins to the list of assets it is considering adding to its investment products, including VeChain (VET), Iota, Monero (XMR) and Axie Infinity (AXS).Other assets under consideration are Algorand (ALGO), Arweave (AR), Bancor (BNT), BitTorrent (BTT), Bora, Convex (CVX), Cosmos (ATOM), Decred (DCR), Elrond (EGLD), Enjin (ENJ), Fantom (FTM), Gala, Gelato (GEL), Helium (HNT), Holo (HOT), Oasis Network (ROSE), Secret (SCRT), Spell Token (SPELL), Stacks (STX), The Sandbox (SAND), Universal Market Access (UMA) and Yield Guild Games (YGG).In addition to the 25 coins added to its assets under consideration, Grayscale also said in a Monday update on its website that it had added Amp to its Grayscale DeFi Fund.We’ve updated ou...
Stop the steal? Trump family threatens legal action against TrumpCoin
Altcoins

Stop the steal? Trump family threatens legal action against TrumpCoin

A low cap cryptocurrency named TrumpCoin (TRUMP) has finally drawn the ire of the Trump dynasty six years after it entered the market. On Jan. 25, Donald Trump’s second son Eric threatened legal action against the TRUMP cryptocurrency for allegedly using his family’s name fraudulently.Fraud Alert: It has come to our attention that someone is promoting a crypto currency called "TrumpCoin" (Symbol  "TRUMP.") This has NOTHING to do with our family, we do not authorize the use and we are in no way affiliated with this group. Legal action will be taken.— Eric Trump (@EricTrump) January 24, 2022TRUMP is a cryptocurrency that launched in Q1 2016 as the campaign season to elect the 45th President of the United States began. It claims to be “A Cryptocurrency created by Patriots for Patrio...
YouTube head of gaming Ryan Wyatt to resign and join Polygon Studios as CEO
Altcoins

YouTube head of gaming Ryan Wyatt to resign and join Polygon Studios as CEO

On Tuesday, Ryan Wyatt, head of gaming at YouTube, announced he would be leaving the video-sharing platform in February. Partly due to his leadership, YouTube Gaming sees over 250 million daily logged users per day with hundreds of billions of watch time each year. Wyatt cited his passion for blockchain and Web3 development in explaining his resignation. He will soon join Polygon Studios as its CEO.Polygon Studios is the gaming and non-fungible tokens, or NFTs, arm of the namesake layer-two Ethereum scaling network. Polygon (MATIC) plans to commit $100 million to projects led by its subsidiary studio, which debuted last July. The firm's objectives are to develop decentralized gaming, attract blockchain enthusiasts to its NFT tokens ecosystem and establish Polygon as a competent b...
Bitcoin holds onto 10% gains ahead of crucial Fed rate hike comments
Altcoins, Bitcoin

Bitcoin holds onto 10% gains ahead of crucial Fed rate hike comments

Bitcoin (BTC) held onto fresh upside on Tuesday after a resurgent stock market took the largest cryptocurrency above $37,500.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView.Fed may spark fresh volatilityData from Cointelegraph Markets Pro and TradingView showed BTC/USD trading above $36,000 on Tuesday, with maximum 24-hour gains totaling 14% versus Monday’s floor. Bitcoin’s correlation to equities remained in focus ahead of a fresh Wall Street open and key information regarding interest rates from the United States Federal Reserve.The Fed’s Federal Open Market Committee (FOMC) is set to meet Wednesday, and any news regarding interest rates could have instant repercussions for both traditional and crypto markets.“Tomorrow’s FED FOMC meeting could mean that we will...
Cardano projects SundaeSwap and CardStarter squabble over failed promises to investors
Altcoins

Cardano projects SundaeSwap and CardStarter squabble over failed promises to investors

The ongoing drama between two projects built on the Cardano (ADA) blockchain escalated across multiple social media platforms Monday, much to the dismay of the ADA community.The issues began in April when accelerator program CardStarter announced it would launch its own decentralized exchange or DEX. Shortly thereafter, its founders incentivized investors to provide liquidity for the project on Uniswap in exchange for native CSWAP tokens. The platform's developers landed an agreement with a third-party DEX called SundaeSwap sometime later, marketing the deal as a "merger" last June. As per the agreement, CardStarter would no longer develop its promised DEX, and would instead provide liquidity to the existing SundaeSwap DEX.As told by Reddit user "Environmental-Law768", investors were ...
Here are 5 altcoins to study as crypto prices drop to near 1-year lows
Altcoins

Here are 5 altcoins to study as crypto prices drop to near 1-year lows

The pain trade has been an unwelcome sight across the cryptocurrency market since the start of 2022 and over the past 24 days Bitcoin (BTC) and the altcoin prices have drifted, leading some analysts to suggest that a bear market is at hand.Despite traders' concern that another extended crypto winter could be starting, it times like these when investors can capitalize on great opportunities to pick up fundamentally sound cryptocurrencies at a discount.Crypto Fear & Greed Index. Source: Alternative.meIn that vein, here’s a closer look at several projects with strong fundamentals and a proven use case that could be good candidates for accumulation during the current market correction. Polygon (MATIC)The Ethereum (ETH) layer-two scaling solution Polygon (MATIC) is currently down 50.76% fro...
Price analysis 1/24: BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOGE, DOT, AVAX
Altcoins, Bitcoin

Price analysis 1/24: BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOGE, DOT, AVAX

Bitcoin (BTC) and most major altcoins are struggling to find a bottom, indicating that traders are dumping their positions out of fear. The big question on everyone’s mind is whether the selling is over or could the decline continue?UTXO Management senior analyst Dylan LeClair highlighted that the network cost basis, the average price at which Bitcoin was last moved by various investors, is $24,000 and historically, the ratio of cost basis to price has bottomed out below 1.0. If history were to repeat itself, Bitcoin may have to fall some more to make it an attractive buy according to the metric.Daily cryptocurrency market performance. Source: Coin360Long-term investors don’t seem to be perturbed by the recent correction in Bitcoin. Glassnode data suggests that investors continue to w...
Bitcoin dives below $33K to fill futures gap amid record BTC ‘hodling’
Altcoins, Bitcoin

Bitcoin dives below $33K to fill futures gap amid record BTC ‘hodling’

Bitcoin (BTC) set new multi-month lows on Jan. 24 as the new week began with some classic price behavior.BTC/USD 1-minute candle chart (Binance). Source: TradingView“Rangeplay” for BTC after CME gap fillData from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $32,967 on Bitstamp prior to the Wall Street open on Jan. 24.That level represented the start of a CME futures gap left over from July 2021, Bitcoin “filling” it almost to the dollar before reversing upwards to add over $1,000 in minutes.With volatility clearly in the air, expectations were running high for the start of trading on United States equities markets.Weekends are scams. (Low volume markets)— Adam Back (@adam3us) January 23, 2022“Now, Bitcoin will fight $34.1K–$34.4K. If that reclaims, potential tes...