Category Technology

The entire crypto market saw a crash last week and both of these cryptocurrencies took a hit. Below is a comparison of the charts over the past month.

Bitcoin Daily Chart Analysis:

• Bitcoin was unable to break out of the ascending triangle pattern. It saw a large dump after it was unable to cross above the $60,000 level.
• Bitcoin is trading below both the 50-day moving average (green) and the 200-day moving average (blue), indicating the sentiment has been bearish.
• Each of these moving averages may hold as an area of resistance on the chart.

Continue reading at benzinga.com

Indexed joins the fleet of DeFi projects aiming to make passive investing in specific markets in crypto much easier.

Crypto, and DeFi in particular, can be tedious work to follow. By facilitating investment in specific sectors through indices, Indexed Finance creates an enticing financial product that removes much of the hassle of micromanaging a portfolio.  

What Is Indexed?

Not dissimilar to a traditional index fund, Indexed offers passive portfolio management strategies that allow for easy investment in broad sectors of the crypto market.  

In traditional finance, indices are an extremely popular product. There are currently 5,000 U.S. indices available to trade on the stock market. They allow investors to increase their exposure to particular market sectors while softening any sudden downward price movements from a single investment. These indices can represent a country’s largest companies, the key players in a certain sector (the XLV for the health care market, for example), or even a wider selection of consistently well-performing companies like the Dow Jones Industrial Average. Indices play a key role in analyzing the health of a sector and facilitating investments in a broader market.

Continue reading at cryptobriefing.com

Turkey’s fiat currency, the Lira (TRY), is in serious trouble – especially against Bitcoin – with consumer price inflation reaching an alarming 16% in March of this year. In January of 2008, the Lira traded at near-parity with the US Dollar but is currently near its all time low of 8.5 TRY to the USD.

Perhaps in response to the surging demand for reliable hard money alternatives like Bitcoin, the Turkish central bank, the CBRT, banned cryptocurrency as a payment method for goods and services in mid-April of this year.

The Plan

The subsequent failure of two Turkish crypto exchanges, Thodex and Vebitcoin, was perhaps a fairly predictable consequence of the harsh and sweeping new restrictions. While the CBRT’s governor has denied any blanket ban of crypto, according to a report published on Bloomberg and attributed to a senior government official, the CBRT is now planning to aggressively regulate the Turkish crypto industry. Much of the proposed regulation appears designed to prevent further exchange failures.

Continue reading at newsbtc.com

What people want most from digital currency is privacy, the European Central Bank (ECB) said in its report from public consultations about the possibility of a central bank coin.

The ECB said that 43 percent of the respondents pointed to anonymity as a main requirement for any digital currency. People also stated that any digital euro should also be integrated with the methods and resources already being used for payments and other financial services. 

Further, citizens and businesses answering the survey indicated that they want a no-fee solution in addition to security, usability, and non-digital use. The ECB is still in the research stages of deciding whether it makes sense to pursue eCurrency. 

The public consultation — conducted from October 2020 until January of this year — is just one step in determining what will work for consumers and businesses alike. About 25 percent of respondents also said they believed that a digital euro should advance cross-border payments, and make the transactions fast, seamless, and less expensive.

The ECB is just one of many central banks worldwide looking into launching digital currency that would be on par with cryptocurrencies like bitcoin but also more usable and predictable.

Continue reading at pymnts.com

Coinbase, a San Francisco startup that allows people to buy and sell digital currency, became the first major cryptocurrency company to go public when it made its stock market debut on Wednesday.

Trading began around $381 a share, pushing the company's valuation close to $100 billion. That's about what Facebook was worth when it had its initial public offering in 2012.

Coinbase's listing on the Nasdaq under the ticker symbol "COIN" was heralded by enthusiasts as a turning point for once-obscure digital currencies.

"Today was a landmark moment," said cryptocurrency investor Ian Lee. "Crypto is the future of finance."

Bradley Tusk, a political consultant and venture capitalist who financially backed Coinbase, said the company's public offering shows that more Wall Street banks and other traditional investors are warming up to the idea of cryptocurrency.

Read more at mainepublic.org

A thousand years ago, when money meant coins, China invented paper currency. Now the Chinese government is minting cash digitally, in a re-imagination of money that could shake a pillar of American power.

It might seem money is already virtual, as credit cards and payment apps such as Apple Pay in the U.S. and WeChat in China eliminate the need for bills or coins. But those are just ways to move money electronically. China is turning legal tender itself into computer code.

Cryptocurrencies such as bitcoin have foreshadowed a potential digital future for money, though they exist outside the traditional global financial system and aren’t legal tender like cash issued by governments.

China’s version of a digital currency is controlled by its central bank, which will issue the new electronic money. It is expected to give China’s government vast new tools to monitor both its economy and its people. By design, the digital yuan will negate one of bitcoin’s major draws: anonymity for the user.

Continue reading at wsj.com

Cristiano Ronaldo received 770 Fan Tokens $JUV ahead of Juventus' match against Benevento on Sunday as a way of marking his record-breaking goal milestone.

It's the first time a footballer has been rewarded with cryptocurrency, which is becoming prominent in terms of fan interaction in the game.

Fan Tokens $JUV allows Juventus fans to interact with their club and participate in various decisions through the Socios app.

Continue reading at marca.com

Gaming is one of the most popular hobbies of the 21st century. The gaming industry has seen to it that lots of games are produced that just add up on the pile of already existing games. In other words, gamers all over the world have plenty of games to choose from.

The industry keeps track of trends and makes sure to use technological advancements to advance itself. That’s how PCs and other gaming devices have become better. Even mobile phones evolved into smartphones and eventually into gaming phones which prompted the rise of the mobile gaming industry. Better systems means developers can take games to the next level as these systems can take them.

When it comes to trends, Bitcoin is the current trend that has already made a place for itself in the industry. The many benefits of its use have prompted several companies to accept it as a payment method. But Bitcoin has inspired developers to develop several kinds of games as well.

Continue reading at nairametrics.com

Rakuten Inc Thursday announced the launch of Point Bitcoin by Rakuten Point Club, a service that enables users to experience trading Bitcoin, a type of crypto asset (virtual currency), using Rakuten Points, Rakuten’s loyalty program. The new service is easily accessible to all Rakuten members in Japan with a Rakuten ID and Rakuten Points.

Point Bitcoin by Rakuten Point Club provides two points of entry to users: Through the Rakuten Point Club app or through the dedicated Point Bitcoin by Rakuten Point Club webpage on the Rakuten Point Club official site. Users simply access the service through the app or webpage, set the number of points they wish to invest, and start using the service. The selected number of Rakuten Points automatically fluctuates in tandem with the trading price of Bitcoin, which is regularly updated on a chart on the service webpage.

Trading is possible with a quantity of 100 or more Rakuten Points and withdrawals can be made in amounts as small as one point. In addition to the online shopping mall Rakuten Ichiba and other online services provided by the Rakuten Group, Rakuten Points can also be used at brick-and-mortar Rakuten Point Card-affiliated businesses across Japan, including convenience stores, pharmacies, and restaurants.

Continue reading at japantoday.com

Crypto regulation in Spain remains on the political talks amid the current bull-run seen in the bitcoin prices. Now, the country’s Ministry of the Economy is about to create a new Financial Customer Ombudsman for crypto-related matters.

Independent Financial Customer Body Will Abide by the MiCA Ruling

Per La Información, Minister Nadia Calviño seeks to extend its guardianship to the financial body to cover topics such as protecting consumers in cryptocurrency services. To make it a reality, the minister will submit the initial proposal to a public consultancy “as soon as possible.”

Overall, Calviño also wants to canalize all conflicts between banks and their customers through the Financial Customer Ombudsman, including all businesses in the fintech sector.

Continue reading at news.bitcoin.com