Analysis News TheBitTimes.com

As the final crypto trading day of 2022 draws near, investors and traders across the globe are filled with anticipation for what the new year might bring. This year has presented a tough environment for investors, with the S&P 500 looking to close out its worst year since 2008 and the bond market about to suffer its worst year in modern history. Futures were lower Friday due to selling in tech stocks as Tesla (TSLA), which rose 8% in Thursday's rally, is still down a staggering 65% this year and 35% for the month. Meanwhile, oil has sustained much of its gains from last year when it doubled early on, and is now set to finish up 7%. The dollar is slightly weaker yet will be closing out its best year since 2015 after increased demand via Federal Reserve interest rate hikes. The cryptocurrency market also experienced quite a year with Bitcoin and Ethereum closing the year with a loss of 65% and 67%, respectively, since registering their all-time highs last year...

Bitcoin price prediction remains bullish after recovering above the $16,450 level. Bitcoin (BTC) and Ethereum (ETH), the two most valuable cryptocurrencies, have failed to break out of their consolidation phase and are now trading at around $16,000 and $1,100, respectively.  However, the reason for its downward rally could be attributed to the bearish cryptocurrency market, which tends to support riskier assets like Bitcoin (BTC) and Ethereum (ETH). Dogecoin (DOGE) and Solana (SOL), two popular cryptocurrencies, are also down on the day. Along with this, the currency's slow price movement could be attributed to ongoing financial insecurity and the COVID concern, which are deterring investors from riskier assets.  For quite some time, the cryptocurrency market has been plagued by serious issues. As a result of the escalating economic issues, the majority of cryptocurrency users have liquidated or intend to liquidate their cryptocurrency wallets. Novogratz's ...

A blockchain platform built by Russia’s largest banking institution, Sber, has been used to issue digital assets based on gold. The value of the tokenized precious metal will depend on the prices of physical gold, the bank said, emphasizing that the operation is a first. Russia’s Sber Bank Mints Gold-Backed Coins Sber, Russia’s largest bank, has reported issuing gold-based digital financial assets (DFAs) on its proprietary blockchain. The coins were minted for Solfer, a holding specialized in the processing and trading of metals and making products from precious metals. The Russian law “On Digital Financial Assets,” which entered into force in January, 2021, allows companies to tokenize various assets. Sber Bank is one of three “information system operators” authorized by the Bank of Russia to issue DFAs, alongside Atomyze and Lighthouse. The latter conducted Russia’s first DFA issue in June of this year. The DFA issued for gold represents a monetary claim on the asset, Sber explai...

Join Our Telegram channel to stay up to date on breaking news coverage Litecoin (LTC) and Dogecoin (DOGE) hit a rough patch as Snowfall Protocol (SNW) offers generous investment bonus In the world of cryptocurrencies, it is not uncommon for certain tokens to experience ups and downs in their value. Recently, two well-known virtual currencies, Litecoin (LTC) and Dogecoin (DOGE), have hit a rough patch , while a newer token, Snowfall Protocol (SNW) , has been gaining attention with its generous invest ment bonus . In this article, we will delve into the recent struggles of Litecoin (LTC) and Dogecoin (DOGE), and explore the potential benefits of invest ing in Snowfall Protocol (SNW) . Litecoin (LTC) experiences a significant downturn, plummeting 62.55% from the all-time high Litecoin (LTC) is a decentralized, open-source payment network that allows for fast and cheap transactions. However, data shows that the token has experienced a significant downturn in recent days, with t...

As the end of 2022 approaches, a great number of bitcoin proponents are questioning whether or not the bottom is in as far as the official end of the crypto winter is concerned. The current bitcoin bear run just entered the longest bottom formation since the 2013-2015 bitcoin bear market. Moreover, analysts note that most of the technical bottom indicators used to predict bitcoin prices have failed to forecast whether or not the bottom is in. Rainbows and S2F: The List of Technical Indicators That Failed to Predict Bitcoin’s Bottom A month ago, crypto supporters celebrated enduring one of the longest and harshest bitcoin bear markets since the 2013-2015 bitcoin bear market. At the time, the 2013-2015 bitcoin bear run was the longest downturn but today, the current crypto economy’s contraction period is set to surpass the 2013-2015 crypto retrenchment. In addition to the longest bottom phase, Bitcoin.com News reported 144 days ago how a number of technical indicators fai...

The migration of Solana's top two NFT projects to Polygon and Ethereum is set for the first quarter of 2023 on an opt-in basis. Nonfungible token (NFT) firm Dust Labs is migrating its two top-performing Solana NFT projects — DeGods and y00ts — onto Ethereum and Polygon in a bid to expand their adoption.  The news was announced on DeGods and y00ts Twitter page on Dec. 25, with both NFT projects expected to be officially bridged onto Ethereum and Polygon respectively in the first quarter of 2023. Rohun Vora — the creator of DeGods and y00ts who is known by the alias Frank III — said the decision was made to “explore new opportunities” and to allow for the continued growth of the collection. The move will also see the DUST token — used to buy, sell and mint NFTs on the DeGods ecosystem — also be bridged onto Ethereum and Polygon. It's just the beginning. pic.twitter.com/F3vxzXQAOy — Frank III (@frankdegods) December 25, 2022 Vora confirmed that two NFT projects will still rema...

The crypto-verse dealt with attacks on DeFi bridges and bankrupt platforms throughout the year. Now, the community along with other Twitter users might have to deal with the stress of their personal data being leaked. A recent report highlighted how the data of 400 million Twitter users were at stake. Hudson Rock, a cybercrime intelligence firm, claimed that private emails and phone numbers linked to Twitter accounts were up for sale on the black market. This was marked as a “credible threat.” Twitter is home to a wide range of individuals. It is home to the world’s richest man as well as the average Joe. In the Twitter thread, Hudon Rock noted that information pertaining to prominent crypto personalities like Ethereum’s Vitalik Buterin was out in the open. The firm further wrote, “The private database contains devastating amounts of information including emails and phone numbers of high profile users such as AOC, Kevin O’Leary, Vitalik ...

Join Our Telegram channel to stay up to date on breaking news coverage The Bitcoin price prediction shows that BTC is trading above the resistance level of $16,800 as bears could have the upper hand. Bitcoin Prediction Statistics Data: Bitcoin price now – $16,841 Bitcoin market cap – $324 billion Bitcoin circulating supply – 19.2 million Bitcoin total supply – 19.2 million Bitcoin Coinmarketcap ranking – #1 BTC/USD Long-term Trend: Ranging (Daily Chart) Key levels: Resistance Levels: $22,000, $24,000, $26,000 Support Levels: $13,000, $11,000, $9,000 BTC/USD is trading at $16,841 after recovering from the daily low of $16,775. The first digital asset is moving to cross above the 9-day and 21-day moving averages but it could face trade bearishly if the bears step back into the market. Bitcoin Price Prediction: Bitcoin (BTC) Bears May Resume According to the daily chart, the Bitcoin price needs to cross above the 9-day and 21-day moving a...

According to the U.S. Securities and Exchange Commission’s Paul Munter, the agency’s acting chief accountant, the U.S. regulator is monitoring proof-of-reserves (POR) more closely. “We’re warning investors to be very wary of some of the claims that are being made by crypto companies,” Munter explained to the Wall Street Journal (WSJ) on Dec. 22. SEC Official Warns Investors Should Be ‘Wary’ of Proof-of-Reserve Audits and Crypto Exchange Claims U.S. regulators, and more specifically the Securities and Exchange Commission (SEC), are looking more closely at proof-of-reserves (POR) these days following the collapse of FTX. Speaking with the WSJ on Thursday, SEC’s acting chief accountant, Paul Munter, explained that investors should not put much faith in POR audits and claims. SEC is concerned that investors “may be getting a false sense of reassurance from the firms’ reports,” the WSJ report detailed. “We’re warning investors to be very wary of some of the claims that a...

Source: Adobe / simonmayer The President of Brazil Jair Bolsonaro signed a bill making bitcoin (BTC) and other cryptoassets a legal and regulated payment option in the country - and this move, an expert says, "sets the stage for greater bitcoin ad option ." Bolsonaro signed a bill into law that established the country's official and complete framework for the trading and use of “virtual currencies” in Brazil, per the federal government’s official journal. The bill, previously approved by Congress, was signed on Wednesday and published on Thursday.  It stated that, "For the purposes of this Law, a digital representation of value that can be traded or transferred by electronic means and used to make payments or for investment purposes is considered a virtual asset." Therefore, this does not include national and foreign currencies, electronic currencies, instruments that provide certain benefits and services (such as points and rewards from loy...

Source: AdobeStock / Andriy Blokhin Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __________ Market news Zhou Wei, the former chief financial officer of the Binance exchange and the CEO of the Coins.ph platform, said that the crypto market would remain depressed for a long time with more restrictive regulations coming following the collapse of FTX . “Basically, we have to all brace ourselves for a pretty long winter in the crypto world,” Zhou said to the South China Morning Post. “It’s going to push everyone into a deeper bear market.” Security news North Korean hackers have stolen an estimated ₩1.5 trillion won ($1.2 billion) in crypto and other virtual assets in the past five years, more than half of it this year alone, the Independent reported, citing South Korea’s spy agency. Experts and officials say No...

Join Our Telegram channel to stay up to date on breaking news coverage Today, Ethereum dominates the decentralized application sector. However, various platforms have emerged as possible competitors. One such platform is Avalanche, with a native token called AVAX. It aims to be the leading platform for dApps. However, Avalanche’s DeFi future could be in real jeopardy thanks to a novel project. That project is the Oryen Network DApp, whose native token is ORY. What is the Oryen Network? The Oryen Network is a dApp project that will revolutionize the DeFi sector. At the heart of this project is the Oryen Autostaking Technic (OAT). A new protocol makes it easy for anyone to stake and earn a high fixed APY. OAT brings about the concept of automatic staking to people in the crypto world. Holders of the ORY tokens can earn a fixed APY of 90% and a daily ROI of 0.177%. Developers of the Oryen Network aim to make it as easy as possible to stake. Their goal is to bring real-world benef...

Hedgey Finance has integrated with OKC as financial infrastructure for DAO treasuries and helps OKC projects diversify assets & more. DAOs Compensate on Hedgey Through Hedgey Contributor Rewards, DAOs like ShapeShift and DAOhaus use Hedgey for monthly locked token compensation to incentivize long-term commitment and build a stronger community. Hedgey Finance Integrates OKC, These DAOs distribute locked tokens, represented by NFTs, to their core contributors, and they look something like this. These NFTs can also be given Snapshot voting rights, NFT-gated access to Discord channels, and other perks. Hedgey Finance Integrates OKC DAOs collaborate on Hedgey, and now the OKC ecosystem has access to these tools, like Hedgey DAO-to-DAO token swaps. DAOs like GnosisDAO, Alchemix, Thales, Saddle, Sperax, Layer2DAO, and Agave have all been early adopters of DAO-to-DAO (D2D) swaps through Hedgey, and it’s proved to be tool used to strengthen partnerships, mutually invest with other DAOs...

Paxful CEO Ray Youssef highlights Ethereum’s move to proof-of-stake, perceived centralization and token minting ability as reasons for the move. Peer-to-peer cryptocurrency marketplace Paxful has removed Ether (ETH), Ethereum’s native token, from its marketplace , citing a number of concerns around the world’s second-largest cryptocurrency by market capitalization. Paxful CEO Ray Youssef announced the move in a message to some 11.6 million users of the platform, which he subsequently shared on Twitter. We finally kicked # Ethereum off our marketplace . 11.6m humans safer. Integrity over revenue Who is next ? pic.twitter.com/JTJXa5RYJ8 — Ray Youssef (@raypaxful) December 21, 2022 Youssef highlighted three major concerns around the Ethereum ecosystem which led to the marketplace removing ETH, citing Paxful’s intent to maintain its integrity and efforts to combat ‘economic apartheid’ around the world driven by fiat monetary systems: “I want to see a world where Bitcoin frees billion...

Elon Musk ’s $44 billion Twitter takeover is certainly a highlight of 2022. Ever since Musk took over the reins of the social media giant, there has been quite some chaos. From mass layoffs to monetizing the platform, netizens expressed concerns. Over the last couple of days, discussions about finding a new CEO for Twitter took the front stage. A whopping 17,502,391 Twitter users decided the fate of Musk’s role as the platform’s CEO. Musk carried out a recent poll asking netizens if he had to step down as the head of Twitter . 57.5 percent of the participants were inclined towards finding a new CEO. The other 42.5 percent were happy to use the platform under Musk’s leadership. Since he vowed to abide by the results of the poll, the social media giant will soon see the arrival of a new CEO. Earlier today, Musk confirmed the same through a tweet. The Tesla CEO said that he will be resigning right after he finds someone “foolish enough” to take o...

Source: AdobeStock / SkyLine Get your daily, bite-sized digest of cryptoasset and blockchain- related news – investigating the stories flying under the radar of today’s crypto news. __________ Blockchain news OKC (OKX Chain), the EVM and IBC-compatible chain backed by the OKX exchange, announced the launch of their Liquid Staking protocol, “meant to be a key element for the rapidly-expanding DeFi ecosystem on OKC, offering a way for OKC users to effectively and flexibly utilize the chain’s native token, OKT,” said the press release. The launch of Liquid Staking is expected to give a “significant rise” to the volume of assets flowing into OKC and result in a higher total value locked (TVL), as well as advance the expansion of the OKC network. Web3 network peaq unveiled krest , its canary network set to be launched on Kusama , Polkadot ’s canary chain. Per the announcement, the krest network will enable the peaq commu...