Bitcoin (BTC) is leading the cryptocurrency markets lower and the matter is being exacerbated by Silvergate Banks' ongoing issues. This week the cryptocurrency-focused bank said that it needed additional time to file its annual 10-K report and warned that it may not be able to operate for another 12 months. Reacting to this news, several cryptocurrency companies announced that they were reducing or canceling their partnerships with Silvergate Bank. The uncertainty regarding the future of the bank and its overall impact on the cryptocurrency sector may have caused a knee-jerk reaction. However, if the contagion does not spread, the downside …

Blockchain technology continues to make its way into mainstream view, as many companies adopt the technology as a part of their operations. In the push for adoption of this technology comes the simultaneous need for more education on the technology. A new partnership announced on March 2 between the Polygon blockchain network and Mercy Corps Ventures, the investment arm of the humanitarian organization Mercy Corps, focuses on bringing blockchain education and opportunities to underserved communities. According to the announcement, the new partnership has three primary objectives in its effort to bring blockchain and Web3 solutions to “traditionally excluded and underserved …

The future of decentralized exchanges DEXs have been gaining popularity in recent years, thanks to the growing interest in DeFi. DEXs allow users to trade cryptocurrencies without the need for intermediaries or centralized exchanges, providing greater security, transparency, and control over assets. As the DeFi ecosystem continues to grow, the future of decentralized exchanges looks promising. The growth of cross-chain interoperability is one trend that will probably continue. The majority of DEXs currently run on a single blockchain, but the ability to trade assets between chains is becoming more popular. This would increase liquidity and give users access to a …

Polygon, a layer-2 scaling protocol for Ethereum has launched a zero-knowledge decentralized identity solution, Polygon ID to the public nearly a year after announcing its development. The service uses zero-knowledge proofs (ZK proofs) that use cryptographic techniques to allow users to verify their identity online without having their sensitive information passed, or potentially stored with a third party. The public release of Polygon ID by Polygon Labs on Mar. 1 comes almost 12 months after it was officially launched in a closed-source environment in late March 2022, which the Polygon team says was built to “solve the issue of digital …

Bitcoin (BTC) was marginally positive in February even though the S&P 500 index (SPX) fell by 2.61%. On the first day of March, Bitcoin has started on a positive note while the United States equities markets are struggling. This shows that Bitcoin is trying to decouple from the U.S. equities markets. A positive sign is that retail traders seem to have made the most of the crypto bear market. Instead of panicking and selling their holdings, traders have purchased at lower levels. Glassnode data shows that wallets holding at least one Bitcoin have consistently risen and are nearing the 1 …

Bored Ape Yacht Club (BAYC) creators Yuga Labs has announced a new NFT collection on Bitcoin dubbed “TwelveFold.” The move was announced via Twitter on Feb. 28, with Yuga Labs unveiling 300 tokenized computer generated artworks as part of the TwelveFold collection that will go up for auction later this week. Introducing TwelveFold. A limited edition collection of 300 generative pieces, inscribed on satoshis on the Bitcoin blockchain.https://t.co/aFWEIhzqcI pic.twitter.com/PjWABKKBr4 — Yuga Labs (@yugalabs) February 27, 2023 In an accompanying blog post, Yuga Labs explained the concept behind the collection is based on mathematics, time and the Bitcoin blockchain. “TwelveFold is …

Bitcoin (BTC) and the United States equities markets are trying to start the week on a positive note but some analysts are skeptical about the short-term prospects of the markets. According to Bloomberg Intelligence senior macro strategist Mike McGlone, Bitcoin will face significant resistance at $25,000. McGlone believes that it “may be a while before buy-and-hold types gain the upper hand.” It also looks like Bitcoin whales, unique entities owning 1,000 Bitcoin or more, are also not convinced of the recovery in the crypto markets. According to Glassnode, Bitcoin whale numbers have fallen to 1,663, which is well below the …

Bitcoin (BTC) is struggling to stay above $23,000 as the weekend approaches. The selling pressure increased after the personal consumption expenditures excluding food and energy rose 0.6% in January and 4.7% over the year, above market expectations of an increase of 0.5% and 4.4% respectively. This could trigger fears that the United States Federal Reserve may have to continue its rate hikes to bring inflation under control. Expectations of a rate hike could strengthen the U.S. dollar index further, which is already near a seven-week high, and that may put pressure on the cryptocurrency markets in the near term. A …

Layer-2 scaling solution Polygon (MATIC) has not processed a block in over an hour and a half, leading some to believe that the blockchain network could be suffering from an outage. According to data from Polygonscan, the blockchain's last block and transaction was processed at around 8:35 pm UTC on Feb. 22. The network has previously suffered network outages, with the last occurring on Mar. 21-22, 2022 due to maintenance required on one of the network's three layers. The Polygon team is yet to comment on the outage. This is a developing story, and further information will be added as …

The United States equities markets saw their worst performance of 2023 as concerned investors dumped stocks on Feb. 21, fearing continued rate hikes by the U.S. Federal Reserve. Although the cryptocurrency markets also gave back some of the gains, the fall was comparatively muted. UTXO Management senior analyst Dylan LeClair said that Bitcoin’s (BTC) correlation to the S&P 500 index has fallen to the lowest since late 2021. After the sharp recovery from the lows, Glassnode data showed that only 21% of the coins sent by Long-Term Holders to exchanges at the start of this week moved at a loss. …

Bitcoin (BTC) rose more than 11% last week and is trading near the pivotal resistance at $25,000. Monitoring resource Material Indicators highlighted in its latest update that large volume traders were “thinning” overhead resistance, which could spark a rally. As the prices rise, retail traders may get sucked in and the whales could use this opportunity to sell their positions that were accumulated at lower levels. Every uptrend witnesses several pullbacks and Bitcoin is no exception. However, the price action of the past several months shows a large basing pattern, which may be about to break out to the upside. …

While cryptocurrencies have been quite the rage over the past couple of years, nonfungible tokens (NFTs) have risen as an alternate asset class within the cryptocurrency ecosystem. This ecosystem is revolutionizing the world of art and gaming, among a host of other industries. Serving as a digital certificate that proves a collectible’s authenticity, NFTs also provide investors with proof of ownership and utmost security, aspects that have been instrumental in their proliferation as the future of representing real-world objects in the virtual world. As a result, NFTs are gaining increasing popularity among crypto investors looking to invest in metaverse platforms, …