Crypto Market

As the crypto market and related businesses suffer, some of the industry's biggest players are now announcing job cuts. BlockFi – a popular crypto lending platform – has confirmed that it will be cutting its headcount by as much as 20%. Crypto Companies Start Downsizing In a Twitter thread posted by BlockFi’s CEO on Monday, Zac Prince clarified that the layoffs will not impact customer experience or funds. However, he expressed deep regret about the decision, saying it had not…

Celsius Network, a decentralized finance (DeFi) lending giant, has halted withdrawals, swaps, and transfers between accounts. The company announced this news earlier today through a blog post. Celsius said it paused the above services due to extreme market conditions. Through this course of action, Celsius hopes to place itself in a better position to honor its withdrawal obligations. The company claims this move is intended to benefit the entire Celsius community. Specifically, Celsius alleged that pausing withdrawals, swaps, and transfers…

Cardano founder Charles Hoskinson came out yesterday to share his thoughts on the nascent space through a Twitter video titled A Few Musings. He started by sharing Bitcoin’s (BTC’s) history. Specifically, he recalled when it traded below $1 and its recent climb to over $60,000 before plummeting again. He also discussed various events over the years, including the collapse of Mt. Gox and Silk Road. Hoskinson also spoke of interesting ventures like Mastercoin and Colored Coins. However, despite these ups…

The United States Department of Justice (DOJ) has recently launched the KleptoCapture task force. The task force's aim is to enforce sanctions imposed on Russia for its invasion of neighboring country Ukraine. Of late, there have been talks that Russia might turn to crypto to circumvent its sanctions. The DOJ’s establishment of KleptoKapture is a move to nip this in the bud. Efforts to Mitigate Attack on Ukraine In a press statement released on Tuesday, 2nd March, Deputy Attorney General…

Bitcoin price rises past $40,000 after weeks of downhill movement since the start of the year.  The crypto market responds well to fear of incompatible monetary policies. Ethereum, Solana, and other altcoins have likewise followed the uptrend, recording significant gains.  Bitcoin Breaks 40k for the First Time in Weeks Bitcoin has made a significant recovery to $40,000, going up at least 11% in the past 24 hours. Over the last six months, the asset experienced a massive price crash. For…

The bull market and bear market: what is their meaning? And what are the differences between these two market terms?  Every day in the investment universe, we hear these terms repeated regarding market conditions. Yet, as much as they are used, understanding their meaning and differences is more challenging than it sounds. Trends and directions in the market have repercussions on one's portfolio. So, understanding what “bull” and “bear” markets mean, together with their differences, is crucial. So, what are…

As a notoriously volatile landscape, there's a tremendous opportunity to make (or lose) a lot of money in the crypto market. So it would be nice to know where prices would move in advance. While there's no crystal-ball method to predicting these sorts of things, cryptocurrency prices are far from random. However, we can make generic forecasts about where a coin is headed by paying attention to critical variables. Besides day trading, this can help long-term investors determine which cryptos…

On November 8th, 2021, the cryptocurrency market cap crossed $3 trillion. Institutions, billionaires, and celebrities continue to enter the space, bringing both money and promotion. Meanwhile, exchange apps like Crypto.com are growing in popularity, after recently topping the Google Play Store. The enthusiasm and activity within the crypto market are undeniable. However, that doesn't mean that there is plenty of room for new cryptocurrencies. Currently, over 14 200 cryptos appear on CoinMarketCap. However, Bitcoin dominates over 43% of that market.…

Technological advancements have drastically changed our lifestyles and recently enhanced our living standards. Among them is the advent of blockchain, which could change the crypto market again in 2022. Blockchain has already brought us Bitcoin and crypto payments. Now, we expect it to contribute even more to enhance our access to financial alternatives in the years to come. However, before we get carried away with futuristic predictions, let's start with the following year. Below are the most likely trends to…