Binance CEO, Changpeng Zhao, commonly known as “CZ,” said in a recent interview that a potential crypto winter is good for business. When asked how Binance will fare during the current crypto winter following reports of recruitment freezes at Gemini and Coinbase, he answered confidently. “It’s not the first time we’ve gone through a crypto winter. If we are in a crypto winter, it would be my third and Binance's second. So it's not the first time we’ve been through this.” Some climbing ahead. Not the first time, won’t be the last. We will get there. — CZ Binance (@cz_binance) …

Ethereum's native token Ether (ETH) is showing signs of bottoming out as ETH price bounced off a key support zone. Notably, ETH price is now holding above the key support level of the 200-week simple moving average (SMA) near $1,196. The 200-week SMA support seems purely psychological, partly due to its ability to serve as bottom levels in the previous Bitcoin bear markets. Independent market analyst "Bluntz" argues that the curvy level would also serve as a strong price floor for Ether where accumulation is likely. He notes: "BTC has bottomed 4x at the 200wma dating back to 2014. [Probably] …

Bitcoin (BTC) came within $1,000 of its previous cycle all-time highs on June 14 as liquidations mounted across crypto markets. Bitcoin price hits 18-month lows Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $20,816, on Bitstamp, its lowest since the week of December 14, 2020. A sell-off that began before the weekend intensified after the June 13 Wall Street opening bell, with Bitcoin and altcoins falling in step with United States equities. The S&P 500 finished the day down 3.9%, while the Nasdaq Composite Index shed 4.7% ahead of key comments from the U.S. Federal Reserve on its …

As the struggle for regulatory clarity down under rages on, Binance Australia’s CEO Leigh Travers thinks that such a framework will prove the crypto industry “holds itself to a higher standard” than many believe. Travers spoke with Cointelegraph on Tuesday about the current state of local crypto regulatory efforts and how the opportunities available in the industry are restricted by the lack of clarity. That lack of clarity was cited as the reason why the Commonwealth Bank of Australia (CBA) has indefinitely postponed a pilot program for its crypto trading services last month. Although there are no rules on the …

Institutional investors offloaded $101.5 million worth of digital asset products last week in “anticipation of hawkish monetary policy” from the United States Federal Reserve, according to CoinShares. U.S. inflation rates hit 8.6% year-on-year at the end of May, marking a return to levels not seen since 1981. As a result, the market is expecting the Fed to take considerable action to reel in inflation, with some traders pricing in three more 0.5% rate hikes by October. According to the latest edition of CoinShares’ weekly “Digital Asset Fund Flows” report, the outflows between June 6 and June 10 were primarily led …

Crypto traders and investors started out the week with a major shock to the markets. As assets across the blockchain industry went into a collective dive on Monday, users took to Twitter to voice their dismay (or in some cases jubilation) with the current state of crypto. Inflation, potential interest rate hikes, a looming recession, and yet another DeFi fiasco have all contributed to the current onslaught seen in markets on Monday. As a result, Bitcoin's (BTC) price plunged to levels not seen since late 2020, several crypto exchanges limited users from withdrawing their tokens, an increasing number of Web3-centric …

The United States equities markets extended their decline to start the week on June 13. The S&P 500 hit a new year-to-date low and dipped into bear market territory, falling more than 20% from its all-time high made on Jan. 4. The cryptocurrency markets are tracking the equities markets lower and the selling pressure further intensified due to the rumored liquidity crisis of major lending platform Celsius and traders possibly selling positions to meet margin calls. This pulled the total crypto market capitalization below $1 trillion. The sharp declines have led some analysts to project extremely bearish targets. While anything …

Ethereum's native token Ether (ETH) fell to as low as $950 on Uniswap—a decentralized crypto exchange— this June 13, about 20% lower than its spot rate across other exchanges. Over $130M ETH sold in six hours The incident happened at around 3:00 am UTC after a whale dumped 65,000 ETH for multiple "stablecoins," including USD Coin (USDC), Tether (USDT) and Dai (DAI). A piece of evidence noted that the whale sold its ETH holdings to pay off nearly $73 million worth of debt at Oasis.app, a DeFi lending platform. The duration of the sell-off saw ETH's liquidation price dropping from …

Ethereum is plagued with criticisms of its less than optimal scaling capabilities and high gas prices. There have been talks about increasing the scaling capacity of the Ethereum mainnet for a while now. However, the Ethereum ecosystem needs a solution for scaling right now, and if Ethereum is not able to give these new applications a platform with enough scaling capabilities, they can seek alternatives like the BNB Chain or Cardano. Optimism rollout was created to solve exactly the scalability problem of Ethereum. Optimism Rollup network is one of the several solutions trying to address Ethereum’s congestion problem. The Ethereum …

Usually, bear markets bring about a feeling of uncertainty in any investor. Even more so for a newcomer, for whom it can feel like the end of the world. It may even be common knowledge that during bull cycles, investors are sure of making gains. Whereas in bear markets such as this, an unimaginable amount of pessimism sets in. The co-founder and strategic lead at the Kylin Network, Dylan Dewdney, told Cointelegraph that the two major mistakes that investors make while feeling anxious are “One, over-investing and two, not investing with conviction.” “You need to find the sweetspot where you …

Bitcoin (BTC) faced continued selling pressure before the June 13 Wall Street open as Ether (ETH) revisited multiyear lows. Bitcoin battles for $24,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD eclipsing its 10-month lows set in mid-May. The largest cryptocurrency faced bearish triggers on multiple fronts, these coming from both within and beyond the crypto sphere. Fintech protocol Celsius appeared on the brink of meltdown after operations were halted, turning billions of dollars in collateral into new risk for crypto markets. In an event ironically similar to that which caused the May rout, Bitcoin and altcoins kept falling …

Ethereum network developers have decided to delay the difficulty bomb, a major step leading up to the highly anticipated Merge upgrade for the layer-1 blockchain. They set the delay to two months in order to “be sure that we sanity check all the numbers before selecting an exact delay and deployment time,” according to core developer Tim Beiko in a Sunday tweet. In short, we agreed to the bomb delay. We were already over time, and want to be sure that we sanity check all the numbers before selecting an exact delay and deployment time, but we are aiming for …