Avalanche moved to its highest point since August, as the token rose by as much as 17% in today’s session. Cryptocurrencies surged across the board, following the latest Federal Reserve rate hike, with the global market cap 4.29% higher as of writing this. Polygon also hit a multi-month high on Thursday, rising by over 14% in the process. Avalanche (AVAX)…
Solana decentralized finance (DeFi) protocol Everlend Finance is closing down its operations and urging clients to withdraw funds from the platform. The company announced the decision on Twitter on Feb. 1, stating that despite having “enough runway” to continue operating, it would be a gamble under current market conditions. In particular, Everland’s team noted: “Unfortunately, rn liquidity is just not…
Avalanche (AVAX) bulls should brace themselves for impact led by a growing divergence between severalkey indicators on the daily-timeframe chart. AVAX price chart paints bearish divergence The daily AVAX chart shows a classic bearish divergence between its price and relative strength index (RSI), a momentum oscillator forming since Jan. 11. In other words, the price of AVAX has been making higher…
According to a Feb. 2 report by Turkish news agency Anadolu, Spanish authorities have arrested the CEO, sales executive and marketing director of Hong Kong cryptocurrency exchange Bitzlato. In total, six Russian and Ukrainian nationals related to the exchange were arrested in a joint effort between France, Portugal, Cyprus and United States law enforcement. As told by Spanish police, the exchange’s…
U.S. cryptocurrency exchange Bittrex has laid off 83 employees, out of its workforce of roughly 284, per Washington State employment data. A Bittrex spokesperson told Decrypt that the cuts will be felt across “most departments” at the company, and all impacted staff will receive 60 days of continued pay plus additional severance. The Seattle-based exchange has a daily volume of…
Amid the controversy surrounding the Ordinals project and the debate over what types of data should be stored on the Bitcoin blockchain, the network mined its largest block, nearly 4 MB in size, containing just 63 transactions. One of the transactions was a 3.94 MB Ordinal inscription featuring an image of a wizard, and the Bitcoin-issued non-fungible token (NFT) has…
South Carolina Senator Tim Scott, the Republican ranking member on the United States Senate Banking Committee, reportedly plans to develop “a bipartisan regulatory framework” for cryptocurrencies. According to a Feb. 2 report from Politico, Scott included the crypto framework as one of his priorities for the 118th Congress. He reportedly was skeptical of some aspects of crypto, alluding to the…
While 2022 may have made “metaverse” a dirty word for some, major brands are still lining up to experiment with the immersive, future version of the internet. The NFL is still on that list. The league on Thursday announced plans for the first-ever virtual Super Bowl concert. Featuring the vocal stylings and motion-captured movements of hip-hop artist Saweetie, the concert…
‘Snow Crash’ by Neal Stephenson Neal Stephenson’s science fiction novel Snow Crash predicted the Metaverse in 1992. This cult book has the amusingly-named Hiro Protagonist running around in an artificial cyber world, trying to stop a virus that wipes minds, aided by his hacker friend Y.T. Reality is a place to escape from, a neoliberal future wrecked by hyperinflation and…
The cryptocurrency community has ridiculed well-known Bitcoin (BTC) critic Charlie Munger for calling the United States to follow in the footsteps of China in banning crypto. In an op-ed article on The Wall Street Journal, the 99-year-old investment veteran has once again slammed crypto, calling a cryptocurrency a “gambling contract with a nearly 100% edge for the house.” Munger also…
