Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
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AtlasNavi – The First AI Drive-to-Earn Navigation App
AtlasNavi is a navigation app that uses AI and smartphone cameras to identify road conditions ahead, such as traffic jams, accidents, police blocks, parking, and more. Its goal is to revolutionize the road navigation experience and redefine the way people drive. Blockchain technology is steadily infiltrating every industry and market we have with once-unbelievable applications. However, some sectors, such as the auto gaming industry, remain uncharted. Currently, this field lacks an authentic digital connection between auto brands and their fans.…
3 years ago
Terra Buys Another $135 Million in Bitcoin as Price Breaks Bullish
Terra – the fiat-pegged stablecoin protocol – purchased another $135 million in Bitcoin on Monday to add to its reserves. This coincides with Bitcoin’s push to $48,000, breaking through the $45,000 that Bitcoin has been under since early January. Terra’s purchase is part of its effort to build a $10 billion Bitcoin reserve to back its US dollar stablecoin, TerraUSD (UST). UST is currently backed by LUNA. However, it is pivoting to Bitcoin to avoid risks of a future debt…
3 years ago
Canadian Leadership Candidate Pierre Poilievre Backs Bitcoin as Alternative to Devaluing Dollar
Pierre Poilievre – Canadian MP and front-runner for Conservative leadership – is showing support for Bitcoin. This is part of his campaign to combat growing inflation in Canada. On Monday, the politician visited a Shawarma shop in London, Ontario to purchase a meal using the cryptocurrency and promised to make Canada the “blockchain capital of the world.” Addressing Inflation With Bitcoin Inflation is a focal point of Poilievre’s campaign. He frequently notes the record CPI increases experienced by Canada in…
3 years ago
Japan to Amend Forex Policy as Russia Continues to Leverage Crypto
The Japanese government is ready to amend its foreign exchange policy. This move is part of global efforts to bar Russia from avoiding financial restrictions via crypto. Japan to Block all Loopholes Japan is not the first nation to revise its laws in the aftermath of Moscow’s invasion of Ukraine. The Russian Federation is reportedly leveraging digital assets as escape routes to ameliorate the effect of Western sanctions. Due to this, nations like Japan world have begun reviewing crypto regulation…
3 years ago
WMA: Bitcoin Close to $45,000 and Altcoins Soar
Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $2,028 trillion. Bitcoin is up by roughly 8% after a promising week. Ethereum increased by almost 11% for the second week in a row. XRP gained almost 4% in value in the past week. Almost all altcoins are trading in the green and still enjoying a favorable period. The DeFi sector added roughly $9…
3 years ago
Freedom Convoy Protest: Is Crypto Really “Free” from Government Control?
Freedom is a word synonymous with crypto. There is freedom from traditional finance systems, freedom from government control, and of course, financial freedom. So it made sense that when Canadian Freedom Convoy protesters needed an alternative platform to receive donations, they chose crypto. At least, it aligned with what the protesters stood for literally and figuratively. However, despite what should have been a smart move, the government exerted its influence on protestors’ holdings, raising questions on how free crypto really…
3 years ago
EU Legislators May Vote to Ban Anonymous Crypto Payments
Members of the European Parliament are preparing for a historical vote the coming week. This event could mean the end of anonymous crypto transactions. EU Could Enforce Several Restrictions According to new reports, EU legislators could block transfers to flagged jurisdictions and enforce ID check on all crypto transactions. Urged on by Russia’s increased focus on crypto to evade financial restrictions, lawmakers worldwide are reviewing regulations with renewed intensity. The European Union has not fallen behind in this global movement.…
3 years ago
What’s Going On With Terra and its $10 Billion Bitcoin Bet?
Bitcoin underwent a sudden surge this week, and looks ready to break the $45k resistance that has kept the crypto market quiet for months. Strangely enough, an altcoin protocol appears the likely cause of the price action. Terra recently decided to fundamentally change the nature of its UST stablecoin’s price support – by backing it with Bitcoin. As such, they’ve recently begun their plan to absorb as much as $10 billion in Bitcoin off the market. Understanding Terra Terra is…
3 years ago
The Five Stages of Bitcoin Acceptance
Bitcoin is inevitable – but we all come to terms with it at a different pace. Here’s how that reconciliation process will probably look for you. (Article inspired by a tweet from @skwp) There are two types of people: those who love Bitcoin, and those who are irrationally frustrated with and baffled by its success. There are also plenty of people that don’t spend much time thinking about Bitcoin at all – but they won’t last for long. With both…
3 years ago