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Tag: Bitcoin

Avalanche Crumbles More Than 16% As Crypto Landslide Continues

Posted on May 20, 2022 By Jet Encila

Avalanche (AVAX), dubbed the “Ethereum killer,” has plunged to more than 16% following the disastrous crypto market scenario. Other crypto tokens that are also competitors to Ethereum have had massive double-digit losses in the last 24 hour…

Digital Currency, News

Dubai Couple Ties the Knot in the Metaverse

Posted on May 20, 2022 By Terence Zimwara

A Dubai based couple has decided to be wed in the metaverse after legal problems stemming from their nationalities initially forced them to tie the knot in Georgia in 2019. After the wedding, the couple said they will use their own experience to help others get married in the metaverse as well. The Metaverse After […]

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Weaker dollar lifts Bitcoin to $30.7K as analyst eyes 60% BTC dominance

Posted on May 20, 2022 By Cointelegraph By William Suberg

Macro conditions flip to reduce pressure on risk assets, as one view gives Bitcoin bears $14,000 capitulation “hopium.”

Digital Currency, News

Cyprus Drafts Crypto Rules, May Introduce Them Before EU Regulations

Posted on May 20, 2022 By Lubomir Tassev

Cyprus Drafts Crypto Rules, May Introduce Them Before EU RegulationsCyprus has prepared its own legislation to regulate crypto assets and is likely to adopt it before Europe finalizes a common regulatory framework, a government official has indicated. The authorities in Nicosia welcome the “careful” use of cryptocurrencies, he added. Government of Cyprus to Submit ‘Attractive’ Crypto Bill Cyprus has an “enviable position” in the […]

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MetaOasis AVAX Hackathon News Report

Posted on May 20, 2022 By Bitcoin.com Media

PRESS RELEASE. MetaOasis Wins the Double in Hackathon Competitions Three months ago, MetaOasis won the championship in Metaverse Alliance 2021 Global Metathon. Three months later, MetaOasis got the most votes and beat 112 competitors in the recent Avalanche Asia Hackathon. Therefore, MetaOasis will become the first project that wins the double in international hackathon competitions […]

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Report: Pakistan Can Generate $90 Million Annually if It Introduces a 15% Tax on Crypto Transactions

Posted on May 20, 2022 By Terence Zimwara

Pakistan can generate tax revenues of at least $90 million each year if authorities impose a 15% tax on cryptocurrency transactions, an executive with a cryptocurrency exchange has said. 15% Crypto Tax An executive with a Pakistani cryptocurrency exchange has said Islamabad can generate at least $90 million in tax revenues if authorities decide to […]

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TA: Bitcoin Reclaims $30K, Why Bulls Face Uphill Task

Posted on May 20, 2022 By Aayush Jindal

Bitcoin started a fresh increase from the $28,500 support zone against the US Dollar. BTC must clear $30,600 to move further into a positive zone.

Bitcoin formed a base above $28,500 and started a fresh increase.
The price is now trading above the $30…

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Microstrategy CEO Expects Bitcoin to ‘Go Into the Millions’ Despite Crypto Market Sell-Off

Posted on May 20, 2022 By Kevin Helms

Microstrategy CEO Expects Bitcoin to 'Go Into the Millions' Despite Crypto Market Sell-OffMicrostrategy’s CEO has predicted that bitcoin is “going to go into the millions” despite the recent cryptocurrency market sell-off. Noting that the cryptocurrency is the future of money, he said: “We are in it for the long term.” Microstrategy Sees Bitcoin as the Future of Money The CEO of the Nasdaq-listed software company Microstrategy, Michael […]

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Do Kwon Dissolved Terraform Labs Korea Days Before Collapse of Terra LUNA, UST

Posted on May 19, 2022 By Kevin Helms

Do Kwon Dissolved Terraform Labs Korea Days Before Collapse of Terra LUNA and USTOfficial records show Do Kwon dissolved Terraform Labs Korea, closing down its headquarters and sole branch just days before the collapse of terra crypto (LUNA) and stablecoin terrausd (UST). Do Kwon Shut Down Terraform Labs Korea Before UST and LUNA Fallout Terraform Labs founder Do Kwon reportedly closed down his company in Korea days before […]

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More Stress For El Salvador As Bitcoin Dips To $29,000

Posted on May 19, 2022 By Best Owie

El Salvador has been on the radar of leading financial and economic institutions since it made Bitcoin a legal tender. It has mainly become a spectacle as cryptocurrency supporters and non-supporters alike watch on to see how this plays out. El Salvado…

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Freedom Protocol Has Become the Project With the Largest Amount of IDO in the Ecology of Binance Smart Chain

Posted on May 19, 2022 By Bitcoin.com Media

PRESS RELEASE. Binance is a curious company. the world’s largest cryptocurrency exchange, it also has no official headquarters and operates outside regulatory control. But that may not stop its step. Binance.US raised funding at a $4.5bn valuation this month, providing a new case for Binance enthusiasts. Today, they can share the exciting news that Freedom […]

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Panama President Mulls Crypto Bill Approval Due to Money Laundering Concerns

Posted on May 19, 2022 By Sergio Goschenko

panamaThe president of Panama, Laurentino Cortizo, has declared he will not sign the recently approved cryptocurrency bill passed by the National Assembly of the country in its current form. Cortizo stated that one of his main concerns about the bill is the stance it takes regarding money laundering activities and crypto. Cortizo may approve some […]

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Digital Collectible Owners Continue to Take Loans out Using NFTs as Collateral

Posted on May 19, 2022 By Jamie Redman

Digital Collectible Owners Continue to Take Loans out Using NFTs as CollateralWhile non-fungible token (NFT) collectibles have become a hot commodity over the last 12 months, a number of NFT owners are taking loans out against their NFTs. This month, a project called Nftfi has facilitated $25.6 million in NFT loans so far, and last month the lending marketplace recorded nearly $50 million in NFT loans. […]

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Here’s why Terra’s snowball effect could send Avalanche (AVAX) price to $15

Posted on May 19, 2022 By Cointelegraph By Yashu Gola

The collateral damage of Terra’s collapse could continue to impact Avalanche price, especially considering that the Luna Foundation Guard holds 1.97 million AVAX tokens.

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Bitcoin Selling Pressure Continues As Long-Term Holder SOPR Spikes Up

Posted on May 19, 2022 By Hououin Kyouma

On-chain data shows the Bitcoin long-term holder SOPR has recently observed spikes, suggesting that this cohort is still continuing to sell.
Bitcoin Long-Term Holder SOPR Spiked Up When Price Crossed $30k
As pointed out by a CryptoQuant post, selling p…

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FTX US Launches Zero-Commission Equities Trading Platform

Posted on May 19, 2022 By Jamie Redman

FTX US Launches Zero-Commission Equities Trading PlatformFTX US announced on Thursday that the firm has launched an equities trading platform called FTX Stocks which will give U.S.-based customers the ability to purchase stocks and exchange-traded funds (ETFs). The launch is currently in a private beta phase for select U.S. customers and equities can be purchased with fiat-backed stablecoins. FTX US Launches […]

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Exchange Inflows Rock Bitcoin, Ethereum As Market Struggles To Recover

Posted on May 19, 2022 By Best Owie

With the market in turmoil, digital assets such as Bitcoin and Ethereum are seeing their prices challenged in ways that have sent shivers down the spines of investors. The downtrend had triggered massive sell-offs that had sent prices towards yearly lows. Despite the volume already being sold off, sellers look to not be done yet. This is evidenced by the volume of Bitcoin and Ethereum that has been making its way to centralized exchanges recently. Bitcoin, Ethereum Rocked By Inflows The inflows had been growing steadily recently and given the volume that has been going into exchanges, this growth is alarming. Top coins Bitcoin and Ethereum usually hold up best when it comes to markets like this, and though they have held up, investors seem unconvinced that they would continue to do so. This is one of the reasons why the inflows have been massive. Data shows that more than $1.4 billion worth of Bitcoin has flowed into centralized exchanges in the last 24 hours alone. Although this is a decline from the previous day when $1.7 billion in BTC had been moved into exchanges, it significantly surpassed the outflow rate compared to the previous day. Related Reading | How The Tether Peg Could Predict Raging Bitcoin Volatility Outflows for bitcoin for the last 24 hours came out to $1.2 billion. What this led to was a positive net flow of $233 million.  Ethereum was not left out of this either. If anything, the second-largest cryptocurrency by market cap has been worse hit by exchange inflows. For the previous day, its inflows had touched $569 million. But unlike Bitcoin, it did not record enough outflows to offset this figure. BTC continues downtrend | Source: BTCUSD on TradingView.com This would continue into the Wednesday market which saw $658.2 million flowing into centralized exchanges. In the same time period, there was $651.1 million flowing out of the exchanges, which left a positive network of $7.2 million. USDT Outflows Spell Selling One way to indicate if investors are selling or buying Bitcoin, Ethereum, and other digital assets is through the stablecoin inflow, and lately, this flow rate has been anything but encouraging. Tuesday saw $1.1 billion USDT flowing into exchanges, marking a significant figure but the outflows came out higher. In total, there was $1.7 billion in USDT leaving exchanges, resulting in a negative $612.1 million net flow. Related Reading | Funding Rates Fall To Yearly Lows Following Bitcoin’s Fall Below $29,000 What metrics like this show is that investors are likely turning their volatile cryptocurrencies into these stablecoins and moving them out of the exchanges for safekeeping. Mostly to provide shelter from a highly volatile market. Nevertheless, the USDT volumes from the last 24 hours are beginning to paint a slightly better picture. While outflows had reached as high as $738.5 million for the past day, inflows were $871.4 million, a positive net flow of $132.9 million. If this trend continues, then the current selling trend could well be turned around into a buyer’s that would hopefully trigger a recovery in the market.  📊 Daily On-Chain Exchange Flow#Bitcoin $BTC➡️ $1.4B in⬅️ $1.2B out📈 Net flow: +$223.0M#Ethereum $ETH➡️ $658.2M in⬅️ $651.1M out📈 Net flow: +$7.2M#Tether (ERC20) $USDT➡️ $871.4M in⬅️ $738.5M out📈 Net flow: +$132.9Mhttps://t.co/dk2HbGwhVw — glassnode alerts (@glassnodealerts) May 19, 2022 Featured image from News Central TV, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… 

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Following French Montana, Son Tung M-TP, One of Vietnam’s Top Celebrity Singers, Joins Radio Caca’s USM Metaverse

Posted on May 19, 2022 By Bitcoin.com Media

PRESS RELEASE. The Vietnamese music celebrity’s videos have garnered close to 2.5 billion lifetime views on Youtube. RACA Hits a High Note Radio Caca (RACA), one of the world’s leading Web 3.0 companies, today announced the collaboration between Radio Caca and Vietnamese celebrity singer Son Tung M-TP, who will join its United States of Mars […]

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Biggest Movers: Tron Moves to 1-Week High, as Thorchain’s RUNE Nears Lowest Level Since January 2021

Posted on May 19, 2022 By Eliman Dambell

Biggest Movers: Tron Moves to 1-Week High, as Thorchain's RUNE Nears Lowest Level Since January 2021Tron rallied during today’s session, as it headed towards a one-week high, following recent declines. This came as Thorchain’s RUNE continued to trade lower, with today’s drop pushing prices closer to their lowest point since January 2021. Tron (TRX) Tron (TRX) surged towards a seven-day week high during Thursday’s session, as prices rebounded following a […]

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Terra Collapse Continues to Plague Defi — Value Locked in Cross-Chain Bridges Down 20% This Month

Posted on May 19, 2022 By Jamie Redman

Terra Collapse Continues to Plague Defi — Value Locked in Cross-Chain Bridges Down 20% This MonthFollowing the aftermath of the Terra blockchain fiasco, decentralized finance (defi) continues to feel the impact of the project’s fallout. During the last four days the total value locked (TVL) in defi has dropped 2.61% in value, and cross-chain bridges have lost roughly 20.3% during the last 30 days. Value Locked in Cross Chain Bridge […]

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Panama President demands strict anti-money laundering measures in new crypto law

Posted on May 19, 2022 By Oluwapelumi Adejumo

Panama’s President Laurentino Cortizo said he will not sign the new cryptocurrency bill until it provides provisions for stricter anti-laundering controls, Bloomberg News reported on May 19.

The post Panama President demands strict anti-money laundering measures in new crypto law appeared first on CryptoSlate.

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Time For Autopsy? Bitcoin May Plunge Further After Dive Below $30k

Posted on May 19, 2022 By Anifowoshe Ibrahim

The next bull market in Bitcoin is now building a bottom. As a result, bears continue to rule the market, sending the price of bitcoin below $29,000 in the last 24 hours. Traders expecting the bear market to conclude may have to wait longer due to unfa…

Digital Currency, News

Trade Minister Expects Russia to Legalize Cryptocurrency

Posted on May 19, 2022 By Lubomir Tassev

Trade Minister Expects Russia to Legalize CryptocurrencyCryptocurrencies will be eventually legalized, a member of the Russian government has opined. The question is when this will happen, Trade Minister Denis Manturov stated as new crypto-related legislation advanced in the State Duma this week. Crypto Legalization Is Current Trend, Russian Minister Acknowledges Cryptocurrency can be legalized in the Russian Federation, according to a […]

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Bitcoin, Ethereum Technical Analysis: ETH Falls Below $2,000 as Crypto Bearish Pressure Intensifies 

Posted on May 19, 2022 By Eliman Dambell

Following several sessions of consolidation, ETH has finally caved in, dropping below the $2,000 floor in the process. As we move towards the end of the week bitcoin also fell for a second consecutive session, with prices falling below $29,000. Bitcoin Bitcoin dropped below the $29,000 level on Thursday, as bears continued to push prices […]

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Bitcoin must defend these price levels to avoid ‘much deeper’ fall: Analysis

Posted on May 19, 2022 By Cointelegraph By William Suberg

It could be “do or die” for Bitcoin bulls if BTC/USD returns under $27,000, Whalemap argues.

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Russian minister says crypto to become means of payment ‘soon’

Posted on May 19, 2022 By Oluwapelumi Adejumo

Russia’s minister of industry and trade, Dennis Manturov, believes it’s only a matter of time before crypto becomes a means of payment in the country, Reuters reported.

The post Russian minister says crypto to become means of payment ‘soon’ appeared first on CryptoSlate.

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Despite Criminalizing Mining, Abkhazia Uncovers Another Crypto Farm

Posted on May 19, 2022 By Lubomir Tassev

Despite Criminalizing Mining, Abkhazia Uncovers Another Crypto FarmEven after introducing fines and criminal liability for cryptocurrency mining, Abkhazia continues to find underground facilities for digital currency extraction. This week, law enforcement officials have confiscated dozens of mining devices from an illegal crypto farm. Abkhazia Shuts Down Crypto Farm, Seizes Mining Hardware Police in Abkhazia have closed down another crypto mining installation in […]

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Music Fans Rejoice as YellowHeart Protocol Is Set to Launch on Bittrex Global Starting Block

Posted on May 19, 2022 By Bitcoin.com Media

YellowHeart Protocol, an NFT platform poised to disrupt the ticketing and music industries, is set to launch its utility token, HRTS (pronounced “Hearts”), on Bittrex Global’s IEO Platform Starting Block as the platform’s debut project on May 24 at 13:00 UTC. YellowHeart Protocol Is a Significant Milestone in the History of Event Ticketing System The […]

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Bitcoin trades in $29K ‘no man’s land’ as Tesla ESG fallout routs stocks

Posted on May 19, 2022 By Cointelegraph By William Suberg

Tesla’s removal from the S&P 500 adds to an already bearish trajectory while BTC/USD stays stuck below $30,000.

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Crypto Exchange Coinbase Slows Hiring Amid Market Downturn

Posted on May 19, 2022 By Lubomir Tassev

Crypto Exchange Coinbase Slows Hiring Amid Market DownturnLeading U.S. crypto exchange Coinbase is slowing hiring, citing the current down cycle in the market as a reason to rethink its staffing strategy. The company’s management believes the move will allow the trading platform to match its hiring needs with its business goals. Coinbase to Reassess Headcount Needs, Focus on Integrating Recent Hires Cryptocurrency […]

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Bitcoin Argentina NGO to Take Crypto Education to Schools

Posted on May 19, 2022 By Sergio Goschenko

Bitcoin ArgentinaBitcoin Argentina, an NGO dedicated to the promotion and expansion of Bitcoin and cryptocurrency in the country, is going to take Bitcoin education to high schools. The project, called “Schools and Bitcoin,” will help educate high school students about the relevance of Bitcoin and the differences between this alternative system of money and the traditional […]

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Jamiroquai to Bring ‘Virtual Insanity’ to The Sandbox Blockchain Metaverse

Posted on May 19, 2022 By Jamie Redman

Jamiroquai to Bring 'Virtual Insanity' to The Sandbox Blockchain MetaverseOn Wednesday, the acid jazz-funk band Jamiroquai revealed it has partnered with the blockchain-based virtual world platform The Sandbox in order to “get funky in the metaverse.” According to the announcement, Jamiroquai plans to bring virtual insanity to the band’s virtual land located in The Sandbox metaverse. Acid Jazz-Funk Band Jamiroquai Joins the Sandbox Virtual […]

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TA: Bitcoin Trims Gains, Why BTC Could Start Fresh Decline

Posted on May 19, 2022 By Aayush Jindal

Bitcoin extended decline and traded below $29,000 against the US Dollar. BTC must stay above the $28,500 level to avoid a sharp decline in the near term.

Bitcoin started a fresh decline from the $30,500 resistance zone.
The price is now trading below …

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Bank of England’s Cunliffe Warns Crypto Will See Tough Times as Federal Reserve Tightens Financial Conditions

Posted on May 19, 2022 By Kevin Helms

Bank of England’s Cunliffe Warns Crypto Will See Tough Times as Federal Reserve Tightens Financial ConditionsBank of England’s deputy governor for financial stability, Sir Jon Cunliffe, has warned of hard times ahead for cryptocurrency investors as the Federal Reserve and other central banks tighten monetary policy. Bank of England’s Executive Warns About Crypto Sir Jon Cunliffe, deputy governor for financial stability at the Bank of England (BOE), had a warning […]

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Bitcoin Stable Near $30,000 But The Bearish Leg Is Far From Over

Posted on May 19, 2022 By anushsamal

Bitcoin has been getting stable at its crucial support level of $30,000. For over a week now, Bitcoin has been trading near its immediate support level. Over the last week, the coin lost close to 6% of its value and in the last 24 hours, BTC fell by 3%. The past week has been extremely choppy for Bitcoin and also for the altcoin due to continued market weakness. The coin had plunged to a low of $25,000, BTC had last traded about that price level in December 2020. Bitcoin has recovered by $5000, however, a chance of a further downslide cannot be ruled out.  The technical of the coin pointed towards continued selling pressure in the market. Bitcoin Price Analysis: One Day Chart Bitcoin was priced at $29,100 at the time of writing after the coin was rejected from the $31,000 price level. Immediate resistance for the coin stood at $25,000. A fall beneath the same will send the coin straight to $19,000. On the flip side, if the bulls send a temporary relief then the coin will target moving above the $30,000 price level and trade close to the $31,000 resistance mark. The volume of Bitcoin traded was seen in the red which indicated bearishness on the one day chart. Technical Analysis Bitcoin might have been able to show signs of stability on the chart but further signs show that the coin can soon plummet again. King coin was trading underneath the 20-SMA line which meant that sellers were dominating the price momentum in the market. Support from the buyers can push the coin above the immediate resistance of $30,000. The support from buyers seems like an unlikely situation considering how the coin has formed a bearish flag (yellow). A bearish flag indicates further push from the bears and this could cause the coin to trade below the $20,000 support mark. The coin hadn’t touched the $20,000 price level in over a year now. The Relative Strength Index was below the half-line which indicated that sellers are still in charge as shown by the SMA lines. Related Reading | Bitcoin Bearish Signal: Whales Ramp Up Dumping Bitcoin’s bearish flag reflected how the coin continued to fall on the chart after the pattern was formed. The bulls have tired out from the constant battle with sellers. In accordance with the same reading, Awesome Oscillator flashed bearishness. The indicator dictates the price momentum of the market and red histograms underneath the half-line meant a sell signal for the coin. If sellers continue to act on it, $20,000 can soon be on the charts. Chaikin Money Flow is responsible for depicting capital inflows and outflows. The indicator was below the half line because capital outflows were still dominant at press time. Related Reading | TA: Bitcoin Eyes Fresh Increase But This Level Is The Key

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Growth in US Bitcoin mining does not reflect in stocks performance

Posted on May 19, 2022 By Oluwapelumi Adejumo

The US has become the dominant country for crypto mining, but that dominance isn’t reflected in the crypto mining stocks, which continue to perform poorly as the market plunges, Barrons reported.

The post Growth in US Bitcoin mining does not reflect in stocks performance appeared first on CryptoSlate.

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Finder’s Panel Predicts Death of Shiba Inu Crypto — SHIB Expected to Have No Value by 2030

Posted on May 19, 2022 By Kevin Helms

Finder's Panel Predicts Death of Shiba Inu Crypto — SHIB Expected to Have No Value by 2030A panel of specialists at Finder has predicted the death of shiba inu (SHIB) cryptocurrency. The majority believes that the price of the meme crypto will eventually fall to zero. In addition, “Our panel is overwhelmingly out on SHIB, with 73% saying that now is the time to sell.” SHIB’s Price Prediction Leading price comparison […]

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Funding Rates Fall To Yearly Lows Following Bitcoin’s Fall Below $29,000

Posted on May 18, 2022 By Best Owie

Bitcoin has had a rough couple of weeks leading up to this moment and the effects of this are still being felt all across the board. This has seen bitcoin’s price crumble below $30,000 once more. Along with this fall has come some other brutal news for…

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Robinhood Launching New Non-Custodial Web3 Crypto Wallet

Posted on May 18, 2022 By Kevin Helms

Robinhood Launching Non-Custodial, Web3 Cryptocurrency WalletTrading platform Robinhood is launching a non-custodial, web3 cryptocurrency wallet. “Customers will be able to hold the keys for their own crypto,” the company said. Robinhood Building Non-Custodial, Web3 Wallet Popular trading platform Robinhood announced Tuesday that it is “building a brand new non-custodial, web3 wallet that will allow customers to have total control of […]

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Billionaire Investor and Galaxy Digital CEO Mike Novogratz Addresses the Terra LUNA and UST Fallout

Posted on May 18, 2022 By Jamie Redman

Billionaire Investor and Galaxy Digital CEO Mike Novogratz Addresses Terra LUNA and UST FalloutOn May 18, the billionaire investor and crypto proponent Mike Novogratz published a post about the recent Terra blockchain fallout. Novogratz and his firm Galaxy Digital were big believers in the Terra project, and the investor even got a LUNA-centric tattoo on his arm. Despite the recent events and losses, the crypto economy felt this […]

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Bitcoin Bearish Signal: Whales Ramp Up Dumping

Posted on May 18, 2022 By Hououin Kyouma

On-chain data shows the Bitcoin exchange whale ratio has started to sharply rise, a sign that these humongous holders may be beginning to dump.
Whales Are Behind Almost 90% Of Bitcoin Exchange Inflows Right Now
As pointed out by an analyst in a CryptoQ…

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Price analysis 5/18: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Posted on May 18, 2022 By Cointelegraph By Rakesh Upadhyay

Ailing stock markets continue to impact crypto prices and technical analysis suggests BTC is at risk of falling below its recent $25,500 low.

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Aave Launches Social Media Project Lens Protocol With Over 50 Apps Built on Polygon

Posted on May 18, 2022 By Jamie Redman

Aave Launches Social Media Project Lens Protocol With Over 50 Apps Built on PolygonThe blockchain firm Aave has launched the Lens Protocol, a social media project with applications built on the Polygon blockchain. Lens is similar to the social media platform Twitter but Lens profiles are linked to a non-fungible token (NFT) that can be ported into decentralized applications. Lens Protocol Is Live – Aave Founder Believes People […]

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Aave Launches Social Media Project Lens Protocol With Over 50 Apps Built on Polygon

Posted on May 18, 2022 By Jamie Redman

Aave Launches Social Media Project Lens Protocol With Over 50 Apps Built on PolygonThe blockchain firm Aave has launched the Lens Protocol, a social media project with applications built on the Polygon blockchain. Lens is similar to the social media platform Twitter but Lens profiles are linked to a non-fungible token (NFT) that can be ported into decentralized applications. Lens Protocol Is Live – Aave Founder Believes People […]

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Bitcoin price drops under $29K as Walmart, Target stock lose most since 1987

Posted on May 18, 2022 By Cointelegraph By William Suberg

Shock earnings reports contributed to fresh market weakness, depriving Bitcoin and altcoins of any new gains.

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An Anime Action Adventure: YOANN․IO Seed Launch on KICK․IO

Posted on May 18, 2022 By Bitcoin.com Media

PRESS RELEASE. Metaverses are here, and they are the next generation of gaming. That’s why KICK.IO launchpad is excited to be hosting the public sale of YOANN.IO, an Anime Action Adventure. YOANN.IO empowers players to go on exciting adventures, interact with other players, as well as earn passive income from the marketplace. Within the exciting […]

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Russia’s First Digital Financial Assets Expected This Year, Lawmaker Says

Posted on May 18, 2022 By Lubomir Tassev

Russia’s First Digital Financial Assets Expected This Year, Lawmaker SaysThe first digital financial assets based on Russian blockchains may be issued as early as this year, a high-ranking parliamentarian announced. Three platforms are already registered as issuers, said Anatoly Aksakov, who chairs the Financial Market Committee at the State Duma, the lower house of Russian parliament. Russian Digital Financial Assets Likely to Appear by […]

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Biggest Movers: ATOM Remains Close to 1-Year Lows, as DOT Declines 8%

Posted on May 18, 2022 By Eliman Dambell

ATOM moved closer towards a one-year low on Wednesday, as prices dropped by nearly 10%. This came as DOT also declined during today’s trading session, when global crypto markets fell by over 3% as of writing. Cosmos (ATOM) On Wednesday, ATOM was one of the biggest movers in the session, as it fell by nearly […]

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3 Members of Terraform Labs’ In-House Legal Team Abruptly Leave Amid LUNA, and UST Fallout

Posted on May 18, 2022 By Jamie Redman

3 Members of Terraform Labs' In-House Legal Team Abruptly Leave Amid LUNA, and UST FalloutThree members of Terraform Labs’ legal team have left the company, according to their Linkedin profiles that show their departure from the firm this month. The resignation of the company’s in-house litigation, regulatory, general, and corporate counsel members follow the project’s fallout last week as the blockchain’s native crypto assets dropped significantly in value. Linkedin […]

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LUNA Aftermath: Total Crypto Market More Oversold Than Black Thursday

Posted on May 18, 2022 By Tony Spilotro

Panic struck the crypto market last week when Bitcoin broke below support, stablecoins unpegged from the dollar, and LUNA dropped to zero. The bloody aftermath has left cryptocurrencies as a whole more oversold than the Black Thursday COVID collapse.
H…

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Bitcoin, Ethereum Technical Analysis: BTC Below $30,000 Again as Crypto Consolidation Extends   

Posted on May 18, 2022 By Eliman Dambell

Bitcoin prices dropped during the hump-day session, as bulls were unable to maintain Tuesday’s gains. The world’s largest cryptocurrency once again fell below the $30,000 level, whilst ETH also moved lower. Bitcoin Following a slight rally in price during Tuesday’s session, bearish sentiment returned to markets on Wednesday. This sentiment saw BTC/USD drop to a […]

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Web3 Gaming Company Metatheory Raises $24 Million With Backing From A16z, Pantera, and FTX

Posted on May 18, 2022 By Sergio Goschenko

metatheoryMetatheory, a Web3 gaming company founded in 2021, has announced it has raised $24 million in a Series A funding round. The investment round, which was led by big VC names in the crypto space like a16z, also had the participation of Pantera Capital and FTX Ventures. Kevin Lin, CEO of the company and co-founder […]

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BitcoinUSD․com Launches a Market Watch Site

Posted on May 18, 2022 By Bitcoin.com Media

PRESS RELEASE. BitcoinUSD.com, a website developed to educate the public on crypto exchanges and current prices, launched its new website. The new site provides more information on current cryptocurrency prices, live market cap, news and educational articles through its crypto blog.

The new site offers a variety of features. These include information on various […]

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Australian Taxation Office to Focus on Capital Gains From Crypto Assets

Posted on May 18, 2022 By Lubomir Tassev

Australian Taxation Office to Focus on Capital Gains From Crypto AssetsThe Australian tax agency has listed crypto-related profits among several priority areas where more efforts are needed to ensure correct reporting. The authority has reminded taxpayers they need to calculate any capital gain or loss from the sale of digital coins and tokens and record it in their tax returns. Australian Taxpayers Warned They Should […]

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Bitcoin shakes of Fed volatility as analysts remain split on return under $24K

Posted on May 18, 2022 By Cointelegraph By William Suberg

Bitcoin could reach its highest since the Luna meltdown next, one trader argues, while others feel that the bottom is not yet in.

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New Data Shows China Still Controls 21% Of The Global Bitcoin Mining Hashrate

Posted on May 18, 2022 By Eduardo Próspero

China is back with a vengeance. The Cambridge Centre for Alternative Finance, or CCAF, collected data “spanning the period from September 2021 to January 2022” for their latest study. The headline is that, ban or no ban, the Asian country controls 21% …

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FTX Founder Sam Bankman-Fried Thinks Bitcoin Has No Future as a Payments Network

Posted on May 18, 2022 By Sergio Goschenko

Sam Bankman-friedSam Bankman-Fried, the founder of the cryptocurrency exchange FTX, has given his take regarding the future of Bitcoin’s usage. Bankman-Fried stated he doesn’t believe that Bitcoin will work as a payments network, due to its limited capability for scaling to fulfill this task. However, he believes it might become “an asset, a commodity, and a […]

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Chinese Authorities Prosecute Alleged Masterminds Behind MDC Pyramid Scheme

Posted on May 18, 2022 By Terence Zimwara

Chinese authorities in Rong County recently said they have prosecuted eight individuals accused of being the masterminds behind the Magic Data Chain (MDC) pyramid scheme. The pyramid is thought to have handled transactions with a total value of over $147 million. Virtual Currency Pyramid Scheme Authorities in China’s Rong County, Zigong City, recently prosecuted eight […]

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Algoracle Announces $1․5 Million Seed Round

Posted on May 18, 2022 By Bitcoin.com Media

PRESS RELEASE. Algoracle has recently announced the close of its seed round for $1.5 million (USD) to help accelerate the development and launch of Algorand’s native decentralized oracle network. Algoracle’s seed round was led by Borderless Capital, with major contributions from the Algorand Foundation, Valhalla Capital, and Big Brain Holdings, and rounded out by strategic […]

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Internet Service Company Cloudflare to Run Ethereum Validator Nodes as Part of Its Web3 Focus

Posted on May 18, 2022 By Sergio Goschenko

cloudflareCloudflare, an internet services and DDoS protection company, has announced a new strategy regarding its Web3 experiments. The company revealed it will run Ethereum validator nodes as part of its commitment to help to scale the internet by using proof-of-stake (PoS) consensus technologies. This will ostensibly allow the company to access the energy efficiency and […]

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TA: Bitcoin Eyes Fresh Increase But This Level Is The Key

Posted on May 18, 2022 By Aayush Jindal

Bitcoin is stable above the $29,600 support against the US Dollar. BTC must clear the $31,350 resistance to start a decent increase.

Bitcoin is struggling to gain momentum above $30,500 and $30,600.
The price is now trading near the $30,000 level and …

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How DeFi will eat Tradfi, and why you should care

Posted on May 18, 2022 By Bitcoin.com Official

Decentralized Finance (DeFi) is still in its infancy, only gaining traction within crypto in the past couple of years. Like the internet was in the 90s, DeFi can sometimes be a bit unintuitive, unforgiving, expensive, and slow to use. Despite these cha…

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DOJ Files First Criminal Complaint Against US Citizen Allegedly Using Cryptocurrency to Evade Sanctions

Posted on May 18, 2022 By Kevin Helms

DOJ Files First Criminal Complaint Against US Citizen Allegedly Using Cryptocurrency to Evade SanctionsThe Department of Justice (DOJ) has filed its first criminal complaint against an American who allegedly used cryptocurrency to circumvent U.S. sanctions. “The payments platform advertised its services as designed to evade U.S. sanctions, including through purportedly untraceable virtual currency transactions.” DOJ Charges US Citizen in Crypto Sanctions Evasion Case The U.S. Justice Department has […]

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Elon Musk: US Economy Is Probably in Recession That Could Last 18 Months — Warns It ‘Will Get Worse’

Posted on May 18, 2022 By Kevin Helms

Elon Musk: US Economy Is Probably in Recession That Could Last 18 Months — Warns It 'Will Get Worse'Tesla and Spacex CEO Elon Musk says that the U.S. economy is probably in a recession and it could be “tough going” for 12 to 18 months. He added: “The honest reason for inflation is that the government printed a zillion more money than it had.” Elon Musk on U.S. Recession and Inflation Elon Musk, […]

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Crypto Carnage Causes Flight To Bitcoin Safe Haven, Dominance Demonstrates

Posted on May 17, 2022 By Best Owie

The crypto bloodbath continues to rage on, as bitcoin drops 13%, although to a lesser degree than what was experienced last week. Due to this, there have been several migration patterns recorded in crypto investors as they look for the best safe haven….

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South Korea Launches ‘Emergency’ Investigation Into Collapse of LUNA and UST

Posted on May 17, 2022 By Kevin Helms

South Korea Launches 'Emergency' Investigation Into LUNA and UST After CrashSouth Korea’s top financial regulators have launched an emergency investigation into the collapse of cryptocurrency LUNA and stablecoin UST. The authorities have asked domestic cryptocurrency exchanges to provide information relating to transactions and investors of the two coins. South Korea’s Emergency Investigation Into LUNA, UST South Korea has launched an “emergency” investigation of domestic crypto […]

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Study: Amid Mining Bans, China Still Commands World’s Second-Largest Share of Bitcoin Hashrate

Posted on May 17, 2022 By Jamie Redman

Study: Amid Mining Bans, China Still Commands World's Second-Largest Share of Bitcoin HashrateNew data stemming from the latest Cambridge Centre for Alternative Finance (CCAF) report on bitcoin mining indicates that China still holds the second position in terms of global hashrate. While China commands close to 22% of Bitcoin’s global hashrate, the United States currently dominates with 37.69%, according to CCAF researchers. China Is Still the World’s […]

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Bitcoin Market Plunges Into Extreme Fear, How Scary Does It Get?

Posted on May 17, 2022 By Hououin Kyouma

Data shows the Bitcoin market sentiment has remained deep in extreme fear this week as broader financial markets also get fearful.
Bitcoin Fear And Greed Index Shows A Value Of 12 This Week
As per the latest weekly report from Arcane Research, the wide…

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Terra Community Plans to Vote on Forking the Chain — Launch May Airdrop a Billion New Tokens to Network Participants

Posted on May 17, 2022 By Jamie Redman

Terra Community Plans to Vote on Forking the Chain — Launch May Airdrop a Billion New Tokens to Network ParticipantsFollowing the aftermath of Terra’s UST implosion, the blockchain project’s founder Do Kwon has been actively discussing the Terra ecosystem revival plans and one specific proposal will be voted on May 18. The plan is to fork the blockchain into a new chain that does not include an algorithmic stablecoin, and the newly minted tokens […]

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How The Tether Peg Could Predict Raging Bitcoin Volatility

Posted on May 17, 2022 By Best Owie

The whole UST debacle has seen traders emboldened in the market against stablecoins. The result of this had been more investors going after the pegs of other stablecoins such as USDT and trying to see if they can destabilize the coin. Most prominent of…

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The First Rewards Card for the Web3 World by The Crypto Card Club

Posted on May 17, 2022 By Bitcoin.com Media

PRESS RELEASE. An emerging NFT company, The Crypto Card Club, has developed an innovative system that aims to recognise and reward investors by merging real-world reward point systems with NFT and Web3 purchases. The groundbreaking service financially rewards holders for their usual NFT spending, attempting to minimise Web3 financial risks and safely help grow investor […]

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L1 Ethereum Network Fees Drop to Levels Not Seen in Over 2 Months, L2 Fees Follow

Posted on May 17, 2022 By Jamie Redman

Ethereum network fees have dropped a great deal this week, sliding under $10 per transaction to levels not seen since March 10, 2022. On May 17, the average ethereum transfer fee is 0.0027 ether or $5.68 per transaction. The cheaper fees on layer one (L1) have made it so layer two (L2) fees have been […]

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Biggest Movers: AVAX Rebounds on Tuesday, AAVE up Over 10%

Posted on May 17, 2022 By Eliman Dambell

Global crypto markets are up over 2% during Tuesday’s session, with AAVE and AVAX two of the biggest tokens to rise. Both of these cryptocurrencies rebounded from losses during yesterday’s session, with AAVE trading as much 10% higher. Aave (AAVE) AAVE rebounded during Tuesday’s trading session, as bulls returned to action after a recent three-day […]

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Institutional Investors Flood Over $300 Million In Bitcoin Fund, BTC To Reverse Above $30k?

Posted on May 17, 2022 By Anifowoshe Ibrahim

Last week saw one of the largest losses of value in the history of cryptocurrency. Bitcoin and the general crypto market crisis was hit by the Terra ecosystem’s collapse. Bitcoin plummeted to under $30,000. Obviously, institutional players took a…

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India’s Central Bank RBI Warns Crypto Could Lead to Dollarization of Economy

Posted on May 17, 2022 By Kevin Helms

India's Central Bank RBI Warns Crypto Could Lead to Dollarization of EconomyIndia’s central bank, the Reserve Bank of India (RBI), has expressed concerns that cryptocurrencies could lead to the dollarization of a part of the Indian economy. “It will seriously undermine the RBI’s capacity to determine monetary policy and regulate the monetary system of the country.” RBI’s Crypto Warnings and Dollarization of Economy The Reserve Bank […]

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Bitcoin, Ethereum Technical Analysis: ETH Remains Above $2,000, While BTC Recaptures $30K Level

Posted on May 17, 2022 By Eliman Dambell

BTC moved away from Monday’s lows to surge above $30,000 on Tuesday, as crypto bulls pushed prices higher. ETH continues to trade above $2,000, with prices rising by as much as 4% during today’s trading session. Bitcoin Following a stint below $30,000 to start the week, BTC was trading above this level as bulls made […]

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Square Enix to Reinforce Blockchain Bet, According to Latest Earnings Report

Posted on May 17, 2022 By Sergio Goschenko

square enixSquare Enix has announced its new mid-term business plan, reinforcing its blockchain pivot according to the documents presented. The company will continue to invest in key companies in the blockchain arena, including Animoca Brands and The Sandbox, and will also consider other investments in the area. Square Enix recently sold its Western studios for $300 […]

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Report: Crypto sees record investment despite bearish market

Posted on May 17, 2022 By Oluwapelumi Adejumo

CoinShares’ latest report has revealed that investment into crypto products scored a record inflow of $274 million last week as crypto investors looked to take advantage of the market-wide crash that resulted in the market cap of the industry dropping below the $1.5 trillion mark.

The post Report: Crypto sees record investment despite bearish market appeared first on CryptoSlate.

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SkillzVault and ESE Entertainment Win Gold at Muse Creative Awards 2022

Posted on May 17, 2022 By Bitcoin.com Media

PRESS RELEASE. At Bitcoin Vault (BTCV), the team pride itself on solving security issues that no one else can, which requires a great deal of creative thinking. But when a team can think outside the box, anything is possible. Now, it has been proven that creativity drives projects forward. BTCV is incredibly happy to announce […]

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Terra’s Tendermint Touch — Cosmos-Based Token Economy Hit Hard by LUNA’s Demise

Posted on May 17, 2022 By Jamie Redman

Terra's Tendermint Touch — Cosmos-Based Token Economy Hit Hard by LUNA's DemiseSince last week’s Terra implosion and the demise of the blockchain project’s native token LUNA — and the algorithmic stablecoin terrausd (UST) — crypto tokens based on the Cosmos ecosystem have seen significant losses. Two months ago, the top Cosmos ecosystem coins collectively were worth $61.6 billion and since then, the Cosmos economy has lost […]

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Bitcoin․com Exchange Market Insights Report for May 2022

Posted on May 17, 2022 By Bitcoin.com Exchange

This is the May 2022 monthly market insights report by Bitcoin.com Exchange. In this and subsequent reports, expect to find a summary of crypto market performance, a macro recap, market structure analysis, and more. Crypto Market Performance May got off to a rough start as the Federal Reserve confirmed a hawkish bias on the back […]

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Luna Foundation Guard Discloses Usage of Bitcoin Reserves

Posted on May 17, 2022 By Sergio Goschenko

Luna Foundation GuardThe Luna Foundation Guard, the entity in charge of safeguarding the peg of UST, the stablecoin of the Terra ecosystem, has revealed how it used the available Bitcoin reserve before the recent debacle involving the Terra ecosystem. The organization sold part of the bitcoins owned directly, while another part was traded on different dates to […]

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Fear & Greed Index hits lowest since March 2020 even as Bitcoin price hits $30.5K

Posted on May 17, 2022 By Cointelegraph By William Suberg

Deja-vu for BTC versus market sentiment as conditions mimic the weeks after the March 2020 COVID-19 crash.

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Portugal to Tax Cryptocurrency Income According to Minister of Finance

Posted on May 17, 2022 By Sergio Goschenko

portugalPortugal, one of the countries considered a crypto tax haven due to its absence of crypto-related taxation, is preparing to change this policy. Fernando Medina, minister of finance of Portugal, stated that the country is working on a framework to allow the taxation of cryptocurrency income gains following the principles of “justice” and “efficiency,” and […]

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Indian Regulator SEBI Proposes Banning Public Figures From Endorsing Crypto Products

Posted on May 17, 2022 By Kevin Helms

Indian Regulator SEBI Proposes Banning Public Figures From Endorsing Crypto ProductsThe Securities and Exchange Board of India (SEBI) has reportedly proposed banning public figures, including celebrities and sportsmen, from advertising and endorsing crypto products. The regulator also proposed that public figures be held liable for any law violations when promoting crypto products. SEBI’s Crypto Advertising and Endorsement Proposal The Securities and Exchange Board of India […]

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TA: Bitcoin Holds Key Support, Why BTC Must Clear This Resistance

Posted on May 17, 2022 By Aayush Jindal

Bitcoin corrected lower and tested the $29,000 support against the US Dollar. BTC must settle above the $30,500 resistance to start a decent increase.

Bitcoin failed to gain pace above $31,000 and corrected lower below $30,000.
The price is now tradin…

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Iran Blocks 9,200 Bank Accounts Over Suspicious Foreign Currency, Crypto Transactions

Posted on May 17, 2022 By Kevin Helms

Iran Blocks 9,200 Bank Accounts Over Suspicious Foreign Currency, Crypto TransactionsIran’s Ministry of Intelligence has reportedly blocked almost 10,000 bank accounts over suspicious foreign currency and cryptocurrency transactions. The action was carried out in collaboration with the country’s central bank. 9,219 Bank Accounts Blocked Iran’s Ministry of Intelligence issued a statement Saturday stating that it has blocked a number of bank accounts due to suspicious […]

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Former Fed Chair Bernanke: Bitcoin Is Mainly Used in Underground Economy for Illicit Activities

Posted on May 17, 2022 By Kevin Helms

Former Fed Chair Bernanke: Bitcoin Is Mainly Used in Underground Economy for Illicit ActivitiesFormer Federal Reserve chairman Ben Bernanke says the main use of bitcoin is “mostly for underground economy activities and often things that are illegal or illicit.” He added, “I don’t think bitcoin is going to take over as an alternative form of money.” Ben Bernanke on Bitcoin, Cryptocurrency Former Federal Reserve chairman Ben Bernanke shared […]

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Former Fed Chair Bernanke: Bitcoin Is Mainly Used in Underground Economy for Illicit Activities

Posted on May 17, 2022 By Kevin Helms

Former Fed Chair Bernanke: Bitcoin Is Mainly Used in Underground Economy for Illicit ActivitiesFormer Federal Reserve chairman Ben Bernanke says the main use of bitcoin is “mostly for underground economy activities and often things that are illegal or illicit.” He added, “I don’t think bitcoin is going to take over as an alternative form of money.” Ben Bernanke on Bitcoin, Cryptocurrency Former Federal Reserve chairman Ben Bernanke shared […]

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Grayscale Launches European ETF While Urging SEC to Approve GBTC Conversion Into Spot Bitcoin ETF

Posted on May 16, 2022 By Kevin Helms

Grayscale Launches European ETF While Urging US SEC to Approve GBTC Conversion to Bitcoin ETFGrayscale Investments has announced the launch of an exchange-traded fund (ETF) in Europe. The company’s Future of Finance UCITS ETF will list on the London Stock Exchange (LSE), Borsa Italiana, and Deutsche Börse Xetra. Grayscale Launches ETF in Europe Grayscale Investments, the world’s largest digital asset manager, announced Monday the launch of its first European […]

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This Expanding Triangle Pattern Could Be The Last Hope For Bitcoin Bulls

Posted on May 16, 2022 By Tony Spilotro

Bitcoin broke through support and plunged to the lowest prices seen since 2020. However, despite all the fear the drop has caused, it could be the last low before the top cryptocurrency continues its bull run. Here is why an extremely rare Elliott Wave expanding triangle pattern could be the last hope Bitcoin bulls have for new highs before a bear market. Ralph Nelson Elliott And His Theory On How Markets Move Ask most crypto investors and they would probably agree: we are in a bear market. However, based on the guidelines of Elliott Wave Theory, the last year and a half of mostly sideways could be part of one powerful, confusing, and rare corrective pattern. Related Reading | One Coin, Two Trades: Why Bitcoin Futures And Spot Signals Don’t Match Up Elliott Wave Principle was first discovered by Ralph Nelson Elliott in the 1930s. The theory believes all markets move in the direction of the primary trend in the same five-wave pattern. Odd-numbered waves move up with the primary trend as well, while even-numbered waves are corrective in nature that move against the trend. Is Bitcoin trading in an expanding triangle? | Source: BTCUSD on TradingView.com In the chart above, BTCUSD could potentially be trading in an expanding triangle. In Elliott Wave Theory, triangles of any kind only appear immediately preceding the final move of a sequence. During the bear market, a triangle appeared in place of the B wave before breaking down to the bear market bottom. Identifying A Bullish Expanding Triangle Pattern Triangles can contract, expand, descend, ascend, and even take on some “irregular” shapes. The expanding triangle pictured above and below should in theory only occur before the final wave five impulse up. If that’s the case, the bull run could continue once the bottom of the E wave is put in. Each subwave is a Zig-zag similar to wave two  | Source: BTCUSD on TradingView.com An expanding triangle is characterized as having five waves that sub-divide into ABCDE corrections. Waves A, C, and E are against the primary trend, while B and D waves are with the primary trend. Each sub-wave further sub-divides into three-wave patterns called a Zig-zag. Zig-zag patterns are sharper, and more commonly appear in wave two corrections. The fact that an expanding triangle has five of these brutal corrections in two different directions makes it especially confusing and frustrating. Expanding triangles only form under the most unusual market conditions. Related Reading | Bitcoin Bear Market Comparison Says It Is Almost Time For Bull Season Extreme uncertainty drives expansive volatility in both directions. Both sides of the trade are repeatedly stopped out of trades, adding to frustration. By the end of the pattern, order books are thin and easily overpowered. Decidedly bearish sentiment squeezes prices up quickly causing an upward breakout of the pattern and continuation of the bull run. The chase and FOMO creates the conditions necessary for wave five. Why Bitcoin Could Still Have Wave Five Ahead The only problem is that there is no telling if this is the correct pattern, or if Bitcoin is in (or possibly just completed) a wave four according to Elliott Wave Theory. Knowing that triangles only appear before the final move of a sequence helps improve the changes of this expanding triangle being valid. However, it is more important to understand the characteristics of each wave. Corrective waves result in ABC or ABCDE corrections (along with some more complex corrections) that move against the primary trend. Between corrections is an impulse wave up, in a five-wave stair-stepping pattern. After the bear market bottom, a new trend emerges starting with wave one. Wave two is often a sharp, Zig-zag style correction that retraces most of wave one. A bear market will move below the zero line on the MACD  | Source: BTCUSD on TradingView.com The lack of a new low creates the confidence for more market participants to join, making wave three the most powerful and extended of all. Wave four typically moves sideways and lacks the same severity of the wave two correction. Elliott said that wave four represents hesitancy in the market before finishing the trend. Both wave two and wave four tend to bring the MACD back down to the zero line before reversing higher – a setup clearly depicted above. Related Reading | Bitcoin Indicator Hits Historical Low Not Seen Since 2015 When the hesitancy ends, wave five typically matches the length and magnitude of wave one. But after such a long and nasty wave four correction, any wave five has the potential to extend similar to wave three. If this were the case, the expanding triangle pattern created the perfect shakeout of both sides of the market. Here is a 🧵 on my full Elliott Wave analysis on #Bitcoin and why I don’t believe there is a bear market – and why I expect the last leg up any day now. — Tony “The Bull” Spilotro (@tonyspilotroBTC) May 15, 2022 Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

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China Backed Publication: Terra LUNA Crash Vindicates Country’s Ban on Crypto-Related Activities

Posted on May 16, 2022 By Terence Zimwara

An op-ed article published in the state-backed Chinese publication Economic Daily, has suggested that the recent crash of the Terra blockchain’s LUNA and the de-pegging of the UST stablecoin vindicate the Asian country’s decision to ban crypto-related activities. In the article, the author names the interest rate hikes by the U.S. Federal Reserve and the […]

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Price analysis 5/16: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Posted on May 16, 2022 By Cointelegraph By Rakesh Upadhyay

BTC and most altcoins are facing strong selling at the top of each rally, but the short-term downside could be limited since Bitcoin bulls keep buying each dip.

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Finder’s Poll Conducted Weeks Before Terra’s Fallout Predicted LUNA Would Tap $143 This Year

Posted on May 16, 2022 By Jamie Redman

Finder's Poll Conducted Weeks Before Terra's Fallout Predicted LUNA Would Tap $143 This YearJust recently, the product comparison platform finder․com polled 36 fintech specialists about the cryptocurrency terra (LUNA) before terrausd (UST) lost its parity with the U.S. dollar. According to the poll, Finder’s experts predicted LUNA would be $143 before the end of the year. Currently, LUNA is worth far less than a U.S. penny and while […]

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Top 5 cryptocurrencies to watch this week: BTC, MANA, MKR, ZEC, KCS

Posted on May 16, 2022 By Cointelegraph By Rakesh Upadhyay

Bitcoin could eventually attempt a relief rally which might trigger a rebound in MANA, MKR, ZEC and KCS price.

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Top 5 cryptocurrencies to watch this week: BTC, MANA, MKR, ZEC, KCS

Posted on May 16, 2022 By Cointelegraph By Rakesh Upadhyay

Bitcoin could eventually attempt a relief rally which might trigger a rebound in MANA, MKR, ZEC and KCS price.

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Bitcoin Marks Seven Consecutive Red Candles, Paints Gruesome Picture For Market

Posted on May 16, 2022 By Best Owie

Bitcoin has now entered perhaps one of its most bearish periods ever. The cryptocurrency which has held up quite nicely through all of the market scandals is seeing even more bad news ahead. Previously, it has seen a good number of consecutively red cl…

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Analysts flag Bitcoin price levels to watch after LFG sells 80K BTC

Posted on May 16, 2022 By Cointelegraph By William Suberg

$20,000 or $32,000? Both feature in the outlook for Bitcoin price action going forward.

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CZ Says Binance Supports Proposal to Compensate LUNA Retail Users First

Posted on May 16, 2022 By Terence Zimwara

Binance’s Changpeng Zhao (CZ) has said the exchange supports the proposal to compensate retail LUNA users ahead of larger investors. He also said the LUNA tokens received by Binance in exchange for a $3 million investment in Terra have not been sold or moved. Binance’s LUNA Tokens Not Sold After his exchange faced criticism for […]

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Biggest Movers: XMR and SOL Higher on Monday

Posted on May 16, 2022 By Eliman Dambell

Despite BTC and ETH trading lower on Monday, several cryptocurrencies managed to move higher to start the week. XMR was one of the biggest climbers, with solana also moving higher during the session. Monero (XMR) XMR was one of Monday’s biggest gainers, as prices rose by almost $20 from lows during Sunday’s session. Following a […]

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SBF does not see Bitcoin becoming a payment network, lampoons its energy consumption

Posted on May 16, 2022 By Oluwapelumi Adejumo

Sam Bankman-Fried (SBF), the CEO and founder of leading crypto exchange FTX,  said in a recent interview with the Financial Times that he does not think Bitcoin has a future as a payment network.  SBF continued that the environmental impact of Bitcoin mining, alongside the fact that the coin is “inefficient,” would count against it […]

The post SBF does not see Bitcoin becoming a payment network, lampoons its energy consumption appeared first on CryptoSlate.

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Circle Says USDC Reserve Backed Entirely in Cash and Short-Dated US Treasuries

Posted on May 16, 2022 By Jamie Redman

On May 13, Circle’s chief financial officer Jeremy Fox-Geen published a blog post called “How to Be Stable,” following the aftermath of Terra’s stablecoin implosion. Circle’s CFO explained that since usd coin’s inception, the stablecoin aims to be “the most transparent and trusted dollar digital currency.” Terra’s Stablecoin De-Pegging Incident Has Cast a Spotlight on […]

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Bitcoin, Ethereum Technical Analysis: BTC Below $30,000 to Start the Week

Posted on May 16, 2022 By Eliman Dambell

Following a volatile weekend of trading, cryptocurrency prices consolidated to start the week, with BTC close to its long-term floor. Overall, bitcoin was trading marginally below $30,000, with ETH hovering slightly above $2,000. Bitcoin BTC started the week trading below $30,000 following a volatile weekend of trading, which saw prices mainly consolidate. Following a rise […]

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David Marcus Launches Bitcoin Payments Startup Lightspark

Posted on May 16, 2022 By Sergio Goschenko

LightsparkDavid Marcus, former cryptocurrency head at Meta, is launching Lightspark, another payments company that will use crypto as its central payment tool. The startup, which will have Marcus at the helm as CEO, also features some of Meta’s former employees and will explore the possibilities of using the layer 2 Lightning Network (LN) as a […]

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David Marcus Launches Bitcoin Payments Startup Lightspark

Posted on May 16, 2022 By Sergio Goschenko

LightsparkDavid Marcus, former cryptocurrency head at Meta, is launching Lightspark, another payments company that will use crypto as its central payment tool. The startup, which will have Marcus at the helm as CEO, also features some of Meta’s former employees and will explore the possibilities of using the layer 2 Lightning Network (LN) as a […]

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First 7-week losing streak in history ― 5 things to know in Bitcoin this week

Posted on May 16, 2022 By Cointelegraph By William Suberg

Doom and gloom and an overall sense of unease pervades the market ahead of the World Economic Forum.

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Tezos Foundation Launches Fund to Collect NFT Creations by African and Asian Artists

Posted on May 16, 2022 By Terence Zimwara

Tezos Foundation Launches Fund to Collect NFT Creations by African and Asian ArtistsThe Tezos Foundation recently said it has committed $1.23 million to a fund that will be used to collect non-fungible tokens (NFTs) created by African and Asian artists. Photographer Misan Harriman has been selected as the curator of the foundation’s permanent art collection. Supporting a New Generation of Artists The Swiss non-profit organization, Tezos Foundation, […]

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Turkish Referee Flips Bitcoin at Istanbul Derby Kick-Off, Soccer Authority Launches Probe

Posted on May 16, 2022 By Lubomir Tassev

Turkish Referee Flips Bitcoin at Istanbul Derby Kick-Off, Soccer Authority Launches ProbeA soccer referee’s decision to toss a bitcoin before the start of a recent match between Istanbul giants Beşiktaş and Fenerbahçe has sparked controversy in Turkey. The country’s football authority is trying to establish why a crypto coin was used for the ritual when that role should have been reserved for the Turkish lira. Bitcoin […]

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UK Affirms Commitment to Regulate Stablecoins Following Terra Meltdown

Posted on May 16, 2022 By Kevin Helms

UK Affirms Commitment to Regulate Stablecoins Following Terra CollapseThe British Treasury Department has affirmed its commitment to regulate stablecoins after the collapse of terrausd (UST) and terra (LUNA). “This will create the conditions for issuers and service providers to operate and grow in the U.K., whilst ensuring financial stability and high regulatory standards,” said an HM Treasury spokesperson. Regulation of Stablecoins in the […]

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TA: Why Bitcoin Still At Risk of A Fresh Decline Below $29K

Posted on May 16, 2022 By Aayush Jindal

Bitcoin attempted a recovery wave above the $30,000 resistance against the US Dollar. BTC is struggling near $31,000 and might start a fresh decline.

Bitcoin recovered above the $30,000 level but struggled above $31,000.
The price is now well above th…

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Veteran Investor Bill Miller Remains Bullish on Bitcoin — Confirms He Has a Lot of BTC

Posted on May 16, 2022 By Kevin Helms

Veteran Investor Bill Miller Remains Bullish on Bitcoin — Confirms He Has a Lot of BTCFamed value investor and fund manager Bill Miller says he has “a lot” of bitcoin and has not sold any despite the recent crypto sell-off. He insisted that investors should put some of their liquid net worth in the cryptocurrency. Bill Miller Shares His Bitcoin Outlook Famed value investor Bill Miller is still bullish about […]

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Utility tokens vs. equity tokens: Key differences explained

Posted on May 16, 2022 By Cointelegraph By Murtuza Merchant

With both types of tokens forming the bulk of crypto-asset purchases, both utility and equity tokens serve different purposes. Read here!

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Goldman Sachs’ Blankfein Advises Companies and Consumers to Prepare for US Recession — Says It’s a ‘Very, Very High Risk’

Posted on May 16, 2022 By Kevin Helms

Goldman Sachs' Blankfein Advises Companies and Consumers to Prepare for US Recession — Says It's a 'Very, Very High Risk'Goldman Sachs Senior Chairman and former CEO Lloyd Blankfein has warned that companies and consumers should prepare for a recession in the U.S. He stressed that it’s a “very, very, high risk.” Goldman’s Blankfein Warns About a Recession Lloyd Blankfein, a former Goldman Sachs CEO who is now the firm’s senior chairman, warned about an […]

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Tron DAO Reserve Acquires Millions in TRX, Bitcoin, and Tether to Safeguard USDD

Posted on May 15, 2022 By Jamie Redman

Tron DAO Reserve Acquires Millions in TRX, Bitcoin, and Tether to Safeguard USDDSeven days ago, Bitcoin.com News reported on the Tron DAO Reserve purchasing $38 million in tron to safeguard the network’s stablecoin USDD. Since then and since the terrausd (UST) de-pegging event, the Tron DAO Reserve has continued to purchase large quantities of digital assets to bolster the project’s reserves. In addition to the tron purchases, […]

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Onchain Analysis Report Says Terra’s Bitcoin Reserves Were Sent to Binance and Gemini

Posted on May 15, 2022 By Jamie Redman

Onchain Analysis Report Says Terra's Bitcoin Reserves Were Sent to Binance and GeminiAfter the collapse of Terra’s once-stable coin terrausd (UST), a number of people wondered where the Luna Foundation Guard’s (LFG) bitcoin went, as the funds were supposed to be used to defend the UST’s $1 parity. On Friday, the blockchain intelligence and analytics firm, Elliptic, published a blog post that summarizes where the bitcoin was […]

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Ethereum Hashrate Taps an All-Time High Amid This Week’s Crypto Market Meltdown

Posted on May 15, 2022 By Jamie Redman

Amid the crazy week in the world of cryptocurrencies and the Bitcoin network’s mining difficulty reaching a lifetime high at 31.25 trillion, Ethereum’s hashrate tapped an all-time high on May 13, at block height 14,770,231. Cryptocurrency miners continue to dedicate large quantities of processing power toward the second-largest crypto network in terms of market capitalization. […]

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Authorities Seize Over 1,500 Crypto Mining Rigs in Dagestan Crackdown

Posted on May 15, 2022 By Lubomir Tassev

Authorities Seize Over 1,500 Crypto Mining Rigs in Dagestan CrackdownLaw enforcement and other authorities in Dagestan have closed down two illegal crypto farms, confiscating more than 1,500 mining machines. Government agencies in the republic, considered one of Russia’s capitals of underground coin minting, carry out regular raids against such facilities. Cryptocurrency Miners in Dagestan Accused of ‘Illegal Entrepreneurship’ Officers from the Ministry of Internal […]

Digital Currency, News

Trust in Decentralized Finance Rattled After $100 Billion Left the Defi Economy

Posted on May 15, 2022 By Jamie Redman

Trust in Decentralized Finance Rattled After $100 Billion Left the Defi EconomyThe effect of Terra’s demise continues to shine a light on the fragility surrounding the decentralized finance (defi) ecosystem. Things have changed a great deal following Terra’s aftermath, as the total value locked (TVL) in defi has plummeted from $231 billion to today’s $112.29 billion, losing 51.38% in 42 days. Defi TVL Plunges More Than […]

Digital Currency, News

Crypto Analyst Predicts 1 Altcoin Will Fall Down Hard – Is It Cardano?

Posted on May 15, 2022 By Jet Encila

Pseudonymous crypto trader and analyst Capo tweets that Cardano (ADA) is bound to go on a massive downward trend.
This popular crypto trader with over 307,500 followers on Twitter predicted a massive plunge before the coin finishes its five-waved down…

Digital Currency, News

Ethereum in danger of 25% crash as ETH price forms classic bearish technical pattern

Posted on May 15, 2022 By Cointelegraph By Yashu Gola

ETH’s price risks declining further despite rebounding over 20% in the last three days.

Digital Currency, News

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Name Price24H (%)
bitcoin
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3.73%
ethereum
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3.89%
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0.19%
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3.34%
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6.47%
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$0.53
2.31%
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$51.43
0.60%
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1.42%
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7.95%

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