Month: May 2022

May was an incredibly challenging month for the cryptocurrency market as a majority of tokens booked heavy losses as a bear market was confirmed, but not every project dropped back to pre-bull market lows. Chain (XCN), a protocol designed to help organizations launch their own blockchain network or connect with other more established networks, managed
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Bitcoin (BTC) price action has been surprisingly bullish since May 27. Weekends, especially holiday weekends, are notoriously volatile and indecisive, with major whipsaws in price movements being the norm. Even in bull markets, bearish price action is often the norm, but BTC bucked that trend.  BTC/USD daily chart (Coinbase) Source: TradingView Bitcoin rallied nearly 11%
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The Basel Committee on Banking Supervision met Friday and discussed cryptocurrency, among other topics. The committee stated that it would soon publish its second consultative paper with the intention of finalizing guidelines on the prudential treatment of crypto exposure by banks by year-end.  In a Tuesday press release, the committee issued the following statement, which
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Ethereum is making progress towards its transition from a Proof-of-Work (PoW) consensus to a Proof-of-Stake consensus algorithm. In an event dubbed as “The Merge”, the current network and its decentralized application will begin operating on the latter. Related Reading | Analyst Hints Huge Chances For Ethereum Killers To Surge, Sides With Solana And AVAX Core ETH
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Ethereum, the largest altcoin, is still suffering from the crypto market’s dismal winter. Following intense sell-offs by traders and investors, ETH fell below the $2k threshold. According to Glassnode, the total number of addresses lost has reached 34,966,535 addresses. As a result, the purpose of the event is highlighted. The altcoin, on the other hand,
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Bitcoin (BTC) stayed higher on May 30 as early week gains saw BTC/USD retain $30,500. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView $32,000, $35,000 flagged as lines in the sand Data from Cointelegraph Markets Pro and TradingView showed the largest cryptocurrency consolidating near that $30,600 at the time of writing after hitting highs of $30,900 on
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