If this past weekend is any indication of the current bull market cycle, then an altcoin season may be well underway. Similar to previous cycles, after Bitcoin (BTC) makes a significant run-up in price and then enters a consolidation period, funds begin to migrate into large and small market cap altcoins. Data from Cointelegraph Markets and TradingView shows that while Bitcoin traded in a range between $57,000 and $60,200 over the past week, multiple altcoins saw double-digit gains as exchange listings and protocol developments brought a new wave of enthusiasm and trading volume for select projects. Tron ecosystem leads the …
The price of XRP saw a 55% breakout over the past two days as the sixth-ranked cryptocurrency by market capitalization has renewed its focus on the creation of a cross-border payment network that is inclusive and sustainable. Data from Cointelegraph Markets and TradingView shows that XRP dropped to a low of $0.566 in the early hours on April 4 before a wave of trading volume helped lift its price to a high of $0.877 within the last few hours. The uptick in trading volume was sparked after Ripple posted a blog titled “Creating a More Financially Inclusive and Sustainable Future” …
Chief executive officers of leading banks testified before the United States House of Representatives Financial Services Committee on April 10 on how the banking industry has transformed since the 2008 financial crisis. Among many topics spanning the breadth of the banking industry, the CEOs and lawmakers discussed blockchain technology and cryptocurrencies. During his allotted time for questioning, Rep. Warren Davidson (R) argued that the industry is entering into a new era of innovation, wherein blockchain technology is transforming existing financial systems, as well as cybersecurity. Davidson also noted that the U.S. is currently staggering behind due to regulatory certainty issues. …
Thomas Moser, a board director at the Swiss National Bank (SNB), believes that central banks’ interest in developing central bank-issued digital currencies (CBDCs) has now waned, Business Insider reports today, June 23. Moser told Business Insider at this week’s Zug Crypto Valley Conference that although there was initial interest among central banks in issuing CBDC or a national cryptocurrency, “enthusiasm has slowed again because of the implications it would have for financial stability:” "The whole technical issue, which excited everyone, really takes second place to this conceptual policy issue. The mood now is: everyone is monitoring it, some are experimenting …
Finblox, a crypto-staking platform backed by Three Arrows Capital (3AC) has paused reward distributions and tightened its withdrawal limits. Following this, community members expressed concerns over their assets, with some calling for transparency and bringing up decentralization. In a tweet, Finblox announced that the firm is assessing the effects of 3AC’s situation on its liquidity. While the firm does this, it highlighted, Finblox has paused its reward distribution for all of its users and lowered its monthly withdrawal limit to $1,500. Many of the platform’s users were disappointed with the news, sharing their frustrations about not being able to withdraw …