BNB (BNB), the native token of the Binance crypto exchange, is under threat of undergoing a significant price correction in the coming weeks, based on a mix of technical and fundamental indicators. BNB triangle breakdown continues From a technical perspective, BNB has entered the breakdown stage of its multi-month ascending triangle pattern, a trend continuation indicator. The breakdown could last until the price reaches the level that comes to be at the length equal to the triangle's maximum height. In other words, BNB's ascending triangle breakdown target is near $170, down about 30% from the current price levels, as shown …

Cointelegraph Markets Pro, a data platform designed to level the playing field for cryptocurrency market participants, has been available to the public for nearly two years now. The platform, which took a year to develop, is the result of an exhaustive analysis of crypto markets and the key drivers of asset price movements. It was developed jointly by Cointelegraph and The Tie, the most comprehensive and actionable digital asset information provider trusted by 100+ institutional clients. Testing the VORTECS™ Score At the heart of the platform is the VORTECS™ Score, which compares current market conditions for over 420 crypto assets …

More than six months after the collapse of the Terra ecosystem, South Korean authorities continue to investigate and freeze the funds of persons involved in Terra. After seizing 140 billion won ($108 million) from Terra co-founder Shin Hyun-Seong in November, the Seoul Southern District Court has recently ruled to confiscate more assets related to Terra. The South Korean court has ordered to freeze of 120 billion won ($92 million) in assets of former and incumbent CEOs of Terraform Labs’ affiliate firm Kernel Labs, The Korea Economic Daily reported on Dec. 20. Founded in 2018, Kernel Labs is a blockchain consultancy …

While self-custody is considered the ultimate way to secure one’s funds, many fail to acknowledge the risks associated with physically storing seed phrases. A search conducted by the State Police agency for Nevada ended up making a suspect’s seed phrase public after being picked up by the body cam. A viral video making rounds on Twitter showed two police officers searching a suspect’s car and coming across pieces of paper. It turns out, the suspect was a strong believer in self-custody as unfolding the pieces of paper revealed the suspect’s seed phrase, which was hand-written — a popular method to …

Coinbase CEO Brian Armstrong has pushed for stricter regulations on centralized crypto actors, but says decentralized protocols should be allowed to flourish given that open-source code and smart contracts are alrea“the ultimate form of disclosure.” Armstrong shared his views on cryptocurrency regulation in a Dec. 20 Coinbase blog where he proposed how regulators can help “restore trust” and move the industry forward as the market continues to recover from the damage done by FTX and its shock collapse. But decentralized protocols aren’t part of that equation, the Coinbase CEO emphasized. “Decentralized arrangements do not involve intermediaries [and] open-source code and …

The Nigerian government will reportedly soon pass a law that will recognize the usage of Bitcoin (BTC) and other cryptocurrencies as a means to keep up to date with “global practices.” The news was reported by Nigerian-based masthead Punch Newspapers on Dec. 18 following an interview with House of Representatives Committee on Capital Markets chairman Babangida Ibrahim. The report stated that if the Investments and Securities Act, 2007 (Amendment) Bill is signed into law it would allow the local Securities and Exchange Commission to “recognize cryptocurrency and other digital funds as capital for investment.” Ibrahim stressed the need for Nigeria …

Tel Aviv's Magistrate Court has reportedly issued a ruling allowing Israel's government to seize all the crypto in more than 150 digital wallets it blacklisted over alleged links to funding terrorist groups. According to Dec. 18 local Israeli media reports, Israeli Defense Minister Benny Gantz has revealed the court's Dec. 15 ruling has already allowed authorities to seize a further $33,500 from digital wallets linked to the Islamist militant group Hamas. Prior to the court ruling, Israeli authorities had only been legally allowed to seize digital assets with direct links to terrorist activity but not additional funds in the same …

The province of San Luis in Argentina approved a legislation allowing the issuance of its own stablecoin pegged to the United States dollar. The token, dubbed the "Activo Digital San Luis de Ahorro", will be available to all citizens of the province over the age of 18 and 100% collateralized in liquid financial assets of the province. The bill authorizes the province to issue the stablecoin up to 2% of its annual budget. It also stipulates that assets can be transferred between parties, but it does not specify which chain will be used for the transactions. The province of San …

The total cryptocurrency market capitalization dropped 8.1% in the past two days after failing to break the $880 billion resistance on Dec. 14. The rejection did not invalidate the 4-week-long ascending channel, but a weekly close below $825 billion will confirm a shift to the lower band and reduce the support level to $790 billion. The overall investor sentiment toward the market remains bearish, and year-to-date losses amount to 66%. Despite this, Bitcoin (BTC) price dropped a mere 2% on the week, down to the $16,800 level at 17:00 UTC on Dec. 16. A far different scenario emerged for altcoins …

Ether (ETH) price is down on Dec. 16 and the pre-FOMC rally to $1,350 was obliterated after Federal Reserve chair Jerome Powell issued hawkish statements following a 0.50% hike in interest rates. The Ether sell-off follows a market-wide decline that has sent Ethereum network fees plummeting by 39.90% in the past 30-days. The total value locked in Ethereum-based smart contracts also decreased by decentralized finance by 4.49% in 24-hours. Following the FTX exchange scandal, regulators are attempting to fast-track new regulations on the cryptocurrency sector. While some analysts believe Ethereum still possesses multiple bullish catalysts that warrant investing in the …

Bitcoin (BTC) looked set to ditch $17,000 after the Dec. 16 Wall Street open as United States equities continued to fall. Analyst: $240BNB "has nothing but air below it" Data from Cointelegraph Markets Pro and TradingView tracked new intraday lows of $16,743 for BTC/USD on Bitstamp. The pair had abruptly dived nearly 3% earlier in the day, compounding losses which immediately followed one-month highs. Ongoing concerns over largest global exchange Binance pervaded the mood, these coming despite the best efforts of CEO, Changpeng Zhao, to dispel what he called “FUD.” As Cointelegraph reported, longtime crypto traders were similarly skeptical of …

Institutions in Bermuda will soon be able to trade real-time settlements using a stablecoin with a 1:1 ratio with the United States dollar, Jewel Bank's founder and chairman Chance Barnett told Cointelegraph. Called Jewel USD (JUSD), the first stablecoin to be released in the territory is powered by the Polygon blockchain, enabling transactions between wallets available to institutional clients. In the future, the bank plans to use the Polygon ecosystem for commercial and retail stablecoin-based payment solutions, including transactions between institutions, businesses, and payments between individuals. "The need for a USD real time settlement network outside of the US is …