Day: June 2, 2021

Investors cautiously re-enter crypto funds while ETH vehicles show strength

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A new report from analytics firm Coinshares shows that while the market dip may not have ended, prices are now at levels where stock market investors are once again showing signs of interest in digital asset funds.  A report published yesterday from Coinshares shows that multiple funds have begun seeing net inflows after weeks of record outflows in the wake of a crippling, market-wide crypto dip. In totally, legacy markets poured in $74 million into crypto investment vehicles, though not all products showed signs of strength. Cryptocurrencies show inflows after…

Analyst says Bitcoin could see ‘a smaller drawdown and a quicker bottom’

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The cryptocurrency faithful got a reprieve from recent market struggles thanks to a rally in decentralized finance (DeFi) tokens and Dogecoin (DOGE) on June 2. A bit of a breakout in the price of Ether (ETH) and Bitcoin (BTC) may have also lifted sentiment, but at the moment, the top-ranked digital assets are still meeting pushback at key overhead resistance levels.  Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin rallied 7.3% from a low of $35,645 on June 1 to an intraday high at $38,250…

Who Is Greg, Dogecoin’s Latest “Fake” CEO?

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Key Takeaways Dogecoin co-creator Billy Markus was erroneously called Dogecoin’s CEO this week in a news article from Tech Times. Markus took advantage of the mistake to pass off the non-existent role to Greg, one of Dogecoin’s top meme accounts. Dogecoin spawned a similar meme in 2019, when Elon Musk of Tesla called himself the former CEO of Dogecoin. Share this article Dogecoin has spawned a new meme. Following confusion over the fact that it does not have a CEO, the crypto community jokingly assigned that role to one of…

Market makers in ‘fear mode’ ahead of Friday’s $575M Bitcoin options expiry

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On June 4, a total of 15,530 Bitcoin (BTC) options are set to expire, which represents $575 million in open interest. At the moment, bulls are still heavily impacted by May’s 37% BTC price correction, and this has led most call (buy) options to be underwater. Despite the crash, Bitcoin’s active supply reached a five-month low as 45% of the coins have not been moved over the past 2 years. This indicator shows that investors who purchased up until the 2019 bull run are unwilling to sell at the current…

Bonsai bonanza as Zenft studio sells out $2 million NFT drop in one hour

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While the short-term market outlook for many NFT projects look uncertain and multiple new releases struggle to gain traction, one gardening-themed drop may have set some records by selling 8,888 NFTs in just under an hour. Nonfungible token studio Zenft released a line of 8,888 unique bonzai NFT plants that quickly sold out last night, with the studio selling each digital tree for .08 ETH or roughly $220 at the time of publication. The bonsais have AR/VR functionality, and their 3-D design is a step up from previous pixelated, 2-D…

Google Is Rethinking Its Stance Against Crypto Ads

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Key Takeaways Google has updated its advertising policy for crypto companies. Though the new policy has stricter registration requirements, it makes room for online crypto wallets to advertise. Google’s new policy will take effect this August. Share this article Google has updated its advertising policy, clearly delineating which cryptocurrency companies are able to advertise on its services. Crypto Companies Must Be Registered In a new statement, Google has stated that crypto exchanges and wallets will be able to advertise when they are registered with FinCEN as a Money Services Business…

Altcoins and DeFi tokens breakout as Bitcoin price nears a key resistance

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Weary cryptocurrency traders awoke to the sight of green in the markets on May 2 as bulls managed to bid the price of Bitcoin (BTC) above the crucial ‘line in the sand’ resistance at $37,500, while Ether (ETH) briefly traded at $2,800.  The rising price of both BTC and Ether has been accompanied by double-digit gains in multiple altcoins, leading some to speculate that the market is currently experiencing an oversold bounce following the recent downturn. Price, Twitter and trading volume data. Source: Cointelegraph Markets Pro The leader of the pack…

Funding surpasses $2 million for this charity DAO

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Opportunities for cryptocurrency usage have risen over the years as digital assets have become more well known. One operation, called Endaoment, is aiming to put charitable giving in the hands of the people and recently secured over $2 million to further its endeavor.  “Endaoment facilitates tax-deductible giving of cryptocurrencies via its Donor-Advised Funds, a kind of charitable financial account, where donors give assets to charity, and later recommend distributions to non-profit organizations,” said a Wednesday public statement provided to Cointelegraph. “Endaoment also offers Community Funds, a pooled giving opportunity where…

Search giant Google lifts 2018 ban on crypto exchange, wallet advertisements

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In a surprise move today, online advertising behemoth Google has lifted a nearly three year old policy banning cryptocurrency exchanges from using its ad services.  “Beginning August 3, advertisers offering Cryptocurrency Exchanges and Wallets targeting the United States may advertise those products and services when they meet the following requirements and are certified by Google,” reads a policy update on the company’s support page. Requirements exchanges have to pass include needing to be either registered with “FinCEN as a Money Services Business and with at least one state as a…