Dogecoin price rallies 150% in 4 days, but DOGE now most ‘overbought’ since April 2021

DOGE-USD daily price chart. Source TradingView

The Dogecoin price rally extended further on Oct. 29 in hopes that the cryptocurrency would get a major boost from Elon Musk’s Twitter acquisition. Dogecoin price jumped by nearly 75% to reach $0.146 on Oct. 29, its biggest daily gain since April 2021. Notably, the memecoin’s massive intraday rally came as a part of a broader uptrend that started earlier this week on Oct. 25. In total, DOGE’s price gained 150% during the Oct. 25-29 price rally. The surge was also accompanied by a decent increase in its daily trading…

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9 years after the first Bitcoin ATM, there are now 38,804 globally

Bitcoin ATM operated by Robocoin

On Oct. 29, 2013, a coffee shop in downtown Vancouver, Canada, opened what is understood to be the world’s first publicly available Bitcoin ATM, operated by Robocoin. The crypto ATM saw 348 transactions and $100,000 transacted in its first week of operation. As of Oct. 30, 2022 — nine years and one day on — Robocoin has ceased operations and the first crypto ATM has likely been removed or replaced, but crypto ATMs have continued to increase in number with 38,804 cryptocurrency ATMs in existence today, according to Coin ATM…

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A record 55,000 Bitcoin, or over $1.1 billion, was withdrawn from Binance

Bitcoin exchange netflow (Binance) chart. Source CryptoQuant

Bitcoin has seen record buying activity as BTC/USD returns to six-week highs. The latest data from on-chain analytics firm CryptoQuant shows more BTC leaving major exchange Binance in a single day than ever before. Despite warnings that a macro bottom may not yet have occurred, Bitcoin investors have wasted no time snapping up BTC above $20,000. The past two days’ gains delivered a sea change to exchange user behavior, with BTC balances dropping across the board. As the largest exchange by volume, Binance was of particular interest and saw a…

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Cryptocurrency Market Wipes Out $2 Trillion in Value Since November Peak

Bitcoin 2022 Conference

The cryptocurrency industry has wiped out about $2 trillion in value since hitting a $2.9 trillion peak in November 2021. All of the major digital tokens are deep in the red this year. Bitcoin has slumped more than 53 percent to around $22,000. Ethereum has lost 68 percent to about $1,200. Cardano has plunged 65 percent to below 50 cents. Dogecoin has collapsed 68 percent to roughly a nickel. Litecoin has cratered nearly 70 percent to under $50. Bitcoin and its crypto peers could be leading the financial markets lower,…

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Robinhood to allow users hold their own crypto and NFTs

Vlad Tenev

Robinhood is handing over the keys to some of its customers’ crypto. The trading and investing company announced Tuesday it will let users hold and custody their own cryptocurrencies and NFTs in a separate, stand-alone app. It’s the latest move in the digital asset space for Robinhood as it reaches for growth beyond stock trading. The company shares are off more than 70% since its IPO. The new app will put Robinhood squarely in competition with Coinbase and start-ups like MetaMask. Coinbase CEO Brian Armstrong called his company’s product the…

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El Salvador Buys Another 500 Bitcoins as Price Drops Below $31,000 USD

El Salvador 500 BTC

El Salvador has doubled down on its Bitcoin initiative, making the country’s largest purchase to date as the cryptocurrency sees a significant plummet in price over the past week. On Tuesday, El Salvador president Nayib Bukele announced via Twitter that the country has now acquired another 500 Bitcoins at an average price of $30,744 USD, marking a new low in purchase price for the Central American country which now owns 2,301 BTC. At current prices, the number equates to roughly $72 million USD, which was accumulated over a series of…

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EU commissioner calls for global coordination on crypto regulation

EU crypto rules

Mairead McGuinness, the commissioner for financial services, financial stability and capital markets union at the European Commission, is calling for global regulators to work together to address potential risks in the crypto market. In a Sunday opinion piece in political media outlet The Hill, McGuinness said the European Union and the United States could help lead the world in a regulatory approach for cryptocurrencies that considers the benefits of the innovative technology while addressing “significant risks.” The EU commissioner pointed to the volatility of certain assets, the risk of insider…

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Argentina’s largest two banks to allow crypto trading

Argentina flag

Argentina’s largest and second-largest private banks, Banco Galicia and Brubank, have announced that they will allow customers to make crypto purchases. Bloomberg reported on Monday that a resounding 60% of respondents to an Argentinian poll asked for more access to crypto, which catalyzed the banks’ decisions to begin allowing crypto trading. Affiliate at market research firm Americas Market Intelligence, Ignacio Carballo, tweeted confirmation on Tuesday with screenshots of Banco Galicia’s online interface that it had begun supporting Bitcoin (BTC), Ether (ETH), USD Coin (USDC) and Ripple (XRP) purchases. The South…

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$1 billion flows into SHIB’s market cap in an hour as meme coin gets listed on Robinhood

Shiba Inu to USD Chart

Commission-free investment platform Robinhood has finally listed Shiba Inu (SHIB) after months of petitions and concern over whether crypto traders would ever see this day. The number of investors eager to buy Shiba Inu Coin has increased significantly after the revelation of the long-awaited listing. Notably, on April 12, the token saw a rush of capital, with $1 billion streaming into the digital asset in less than an hour. The dog coin spiked from $12.55 billion to $13.75 in just under an hour, adding $1.2 billion to its market capitalization,…

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Meta Is Planning to Create Its Own Token “Zuck Bucks”

Meta

Meta, the parent company of the world’s biggest social media network, Facebook, is planning to develop its own cryptocurrencies and virtual tokens for its suite of products. It has been clear to everyone where the journey is headed since the renaming of the parent company from Mark Zuckerberg’s Facebook to “Meta Platforms” (Meta for short). The aim is to enter the worlds of the Metaverse. The race to participate in the Metaverse has long been on and for purely digital companies like Facebook and the sisters under the Meta umbrella…

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303.6 Million SHIB Burned as Shiba Inu Is up 12%

Shiba Inu Latest Burn Transactions

Per data made public recently, another massive sum of Shiba Inu canine crypto has been sent to “inferno” wallets and, thus, taken out of circulation. Almost all of this amount of SHIB was burned in merely one transaction. Shiba Inu burns (as is the case with other cryptocurrencies) are being made in an attempt to reduce the circulating supply of the token and push the price toward higher highs. In the meantime, the second-biggest meme coin by market cap after DOGE has demonstrated a 12% rise in the past 24…

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Bitcoin Rockets Again to Over $46K

Bitcoin

After all the crypto market’s ups and downs, Bitcoin scores a price of over $46K. With a market cap of almost $900 billion, a 24-hour low/high numbers of $44,413.48/$47,172.18, and a seven-day low/high numbers of $40,842.4 /$46,992.89, Bitcoin has went up by 4.8% during the last four hours. The official page of Bitcoin on Twitter announced the news with a tweet, implying that no one can predict Bitcoin. The tweet had a short video of a rocket going up in the sky as well. The reactions to this fact were…

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Australian competition regulator takes Meta to court over fake crypto ads

kryptoměny podvod Meta

The Australian Competition and Consumer Commission (ACCC) is taking Meta Platforms, Inc. (formerly Facebook) to the Federal Court, alleging that the firm and its Irish branch engaged in “false, misleading or deceptive conduct” by publishing scam celebrity crypto ads. Some users have lost hundreds of thousands of dollars to the sophisticated and long-running scams tied to the ad. The spotlight on Meta has heated up in Australia since the start of February, with Cointelegraph previously reporting that the ACCC was investigating the firm over allegedly fraudulent crypto ads. Aussie mining…

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President Zelensky of Ukraine Signs Virtual Asset Bill to Legalize Crypto

Ukrajina crypto Bitcoin

Ukraine formally legalizes crypto after receiving over $100 million in support from the crypto community since its war with Russia started. Ukraine’s president has officially signed the virtual asset bill to legalize cryptocurrencies for income, exchange, and business, as approved by parliament last month. This comes after weeks of financial support from the crypto community for help in fending off Russia’s invasion. According to a statement from the Ministry of Digital Transformation of Ukraine, the new law creates conditions for a legal virtual asset market in the country. It will…

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SEC hits BlockFi with a $100 million penalty, gives 60 days to comply with a 1940 law

BlockFi website

On Feb. 14, the Securities and Exchange Commission, or SEC, announced actions against crypto lending company BlockFi over its failure to register high-yield interest accounts that the agency deems to be securities. New Jersey-based BlockFi will pay $50 million in settlement to the SEC and another $50 million to 32 U.S. states that brought similar charges. These are some of the heaviest penalties ever imposed by a U.S. federal regulator on a cryptocurrency service provider. The firm also agreed to stop onboarding new customers to the unregistered service, BlockFi Interest…

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