Non-fungible token (NFT) markets are starting to feel the pain from the crypto market carnage that’s taken place during the last week. Over the last seven days, NFT sales have dropped 42.85% lower than the previous week. NFT sales on Ethereum were hit the hardest as the blockchain saw a 44.83% loss in NFT sales volume this past week. Crypto…
MicroStrategy’s CEO and Bitcoin proponent Michael Saylor is confident his firm’s BTC holdings will more than cover a potential margin call on Bitcoin-backed loans. The American business intelligence and software giant made headlines in 2021 with a number of major investments into Bitcoin. Saylor was a driving force behind MicroStrategy’s decision to convert its treasury reserve into BTC holdings. Global…
In brief Highlight is the latest startup with a vision to harness Web3 tools for creators and their fans. The funding round was led by Haun Ventures. The music and entertainment industries have emerged as some of the most promising fields for crypto and NFTs—offering an alternative to a streaming-based business model many view as broken—by providing new ways for…
It’s a truism that as goes Bitcoin, so goes the rest of the crypto market. The price of trendsetter BTC is highly correlated with Ethereum and most other cryptocurrencies. So, when the price of Bitcoin dropped from nearly $40,000 to $30,000 in the past week, just about every other coin and token was a deep shade of red as well.…
The United States Federal Reserve Board released its semiannual Financial Stability Report on Monday. The report points to volatility on commodities markets brought on by the Russian invasion of Ukraine, the spread of the Omicron variant of Covid and “higher and more persistent than expected” inflation as sources of instability. Stablecoins and some types of money market funds were singled…
Cardano founder Charles Hoskinson took a swipe at Terra founder Do Kwon as the price of Terra’s Terra (LUNA) token crashed to $24 and the TerraUSD (UST) stablecoin depegged to $0.70 yesterday, before recovering. “Should I buy some Luna for negative correlation?” Hoskinson tweeted. Hoskinson quoted an earlier tweet from Do Kwon, who said: “We may buy $ADA for negative…
The global economy looks bleak as inflation continues to rise, and a wide array of financial investments continue to shudder in value. Since May 2, 2022, the crypto economy has dropped more than 15% from $1.83 trillion to today’s $1.54 trillion. The price of gold has lost 5% in 30 days, and major stock market indexes have seen record lows…
Polygon (MATIC) price reversed course to the upside on May 10 after testing $0.794 as its interim support, thus rising by up to 25% to $0.99. The rebound occurred a day after the token slumped over 17% to reach $0.787, its lowest level since July 2021, amid a global market crash led by the U.S. Federal Reserve’s hawkish policies. MATIC price rebounded…
In brief FTX US launched a supplemental income pilot program in partnership with the City of Chicago and local organization Equity and Transformation. The cryptocurrency exchange announced the news at the grand opening of its Chicago headquarters. FTX US, the U.S. division of cryptocurrency exchange FTX, opened its new headquarters in Chicago, and announced the creation of a pilot program…
Jack Henry and Associates has partnered with NYDIG to enable its 7 million bank users access to bitcoin. Jack Henry will use its existing SaaS platform to enable payments to and from NYDIG.This service offers a new revenue stream for banking institutions and credit unions. Fintech software company Jack Henry & Associates, Inc. (Nasdaq: JKHY) has announced a partnership with bitcoin…
