Bitcoin Financial News

Malaysia continues accelerating its pace of cryptocurrency adoption as one of the major local banks is moving into cryptocurrency trading as part of its default banking offerings.

Bitcoin (BTC) lost a key bear market trendline last week as it shed almost 12%, but other chart data offers a silver lining for bulls.

The establishment of free economic zones that foster blockchain and cryptocurrency adoption in Armenia is bearing fruit as a local mining operator adds 60MW of capacity to its power plant-based facility.

Major cryptocurrencies were trading flat early on August 24. The global crypto market cap was $1.02 trillion, a 0.08 percent increase over the previous day.

The collapse of Terra [LUNA] foisted upon the general cryptocurrency market ‘extreme market conditions’ that have forced many major crypto lenders to declare bankruptcy.

crypto tokens traded mixed on Tuesday after the US Fed turned hawkish amid renewed inflation worries, which spooked traders. Most crypto tokens have dropped up to 20 per cent in the last one week, following the release of US FOMC minutes, suggesting the bank would maintain its current inflation prescription of 75-basis point, interest rate hikes.Solana topped among the losers followed by Shiba Inu with a 2 per cent cut, whereas Cardani and Ethereum posted similar gains each. The global cryptocurrency market cap was trading marginally higher at the $1.02 trillion mark, almost unchanged in the last 24 hours. However, the total trading volume rallied over 18 per cent, close to $70.62 billion.What's cooking in IndiaThe interconnectedness between Indian equities market and crypto assets has increased nearly tenfold since the advent of the Covid-19 pandemic, the International Monetary Fund observed in a blog post and flagged the attendant risks.

Amid the ongoing crypto winter, new data from a Pew Research Centre survey has shown that 46% of adult crypto users in the United States are seeing lower than expected returns on their crypto investments.

Bitcoin (BTC) experienced a 16.5% correction between Aug. 15 and Aug. 19 as it tested the $20,800 support. While the drop is startling, in reality a $4,050 price difference is relatively insignificant, especially when one accounts for Bitcoin's 72% annualized volatility.

Bitcoin (BTC) price remains pinned below $22,000 as the lingering impact of the Aug. 19 sell-off at $25,200 continues to be felt across the market. 

Many cryptocurrencies, on multiple occasions, have followed Bitcoin [BTC] where price plunges are concerned. It was almost the same between 17 August and 18 August when the latest capitulation happened as BTC fell from $24,000.

 

To many, Web3 is a concept that is equal parts promising and distant. Naturally, as the conversation continues to grow, many are now confused about where Web3 can be accessed, especially with the sheer number of self-proclaimed “decentralized applications” better thrown as “dApps” that are supposedly running and available. The caveat is that many of these projects aren’t fully decentralized, as they claim, often relying heavily on components of Web2 like centralized storage. The result is that at any time, a centralized party can disable access leaving users unable to access associated applications or, in extreme cases, compromise the dApps, which may lead to loss of funds and private data.

Bitcoin [BTC] is in the news, and things seemed to have gone awry once again. Following a momentary rally in July, BTC witnessed a decline in network activity that has culminated in a series of sell-offs in the last 22 days, as per Glassnode’s report. 

Bitcoin has continued to trade near the $21k mark struggling to breach the $22k resistance level. Well, coins like ADA, XRP, and SHIB have followed suit.

On this week’s “The Market Report” show, Cointelegraph’s resident experts discuss some of the main factors that contributed to the collapse of this bear market rally.

Asia became a hotbed for cryptocurrency adoption following the 2020 COVID-19 pandemic.

Bitcoin (BTC) headed for multi-day highs after the Aug. 23 Wall Street open as United States economic data tripped up the dollar.

Many believe that Bitcoin remains a desirable asset. However, according to Anthony Scaramucci, CEO of Skybridge Capital, it has not yet attained the “wallet bandwidth” necessary to qualify as an inflation hedge.

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Cross-chain bridges have increasingly become targeted by malicious entities. However, not all hackers can run away with millions in their exploit attempts. Some end up losing money from their own wallets.