Author: driver789
The U.S. Securities and Exchange Commission and Commodity Futures Trading Commission published interpretive guidance explaining how they might define what is or isn’t a security in crypto; the CFTC also issued a no-action letter for a non-custodial wallet provider to facilitate derivatives and prediction markets transactions; Arizona is filing criminal charges against a prediction market provider; and by the way we kind-of-sort-of have hints of movement on market structure legislation.What a week, huh?You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions.The narrativeThe U.S. Securities and…
After a poor performance in the first two months of the year, the XRP price appears to have steadied its movement, rousing the hopes of relief among investors. However, the latest on-chain analysis suggests that the altcoin might not have hit its true local price bottom yet. Number Of Days Spent At A Profit Still Quite Low — Analyst In a recent post on the social media platform X, on-chain analyst Joao Wedson offered insights into the XRP market, saying the cryptocurrency is yet to enter the early phases of a price rebound, contrary to popular expectations. This on-chain hypothesis…
Bitcoin (BTC ($68,790.00 · Live)) mining profitability has come under significant pressure due to rising costs and geopolitical tensions. According to data from the on-chain analytics platform Checkonchain, as of mid-March, the average cost of producing one Bitcoin has risen to approximately $88,000. In contrast, the Bitcoin price is trading around $69,000. This reveals that miners are losing an average of $19,000 per BTC they produce, operating with a negative margin of approximately 21%. The cost pressure stems not only from falling prices but also from rising energy costs. Geopolitical tensions in the Middle East, particularly developments centered around Iran,…
Resolv Labs moved Sunday to reassure users after an exploit hit the issuance mechanics of its USR stablecoin, knocking the token off its dollar peg and prompting decentralized finance (DeFi) protocols with exposure to move quickly to contain any fallout.Cointelegraph reported earlier Sunday that an attacker exploited USR’s minting mechanics, creating tens of millions of unbacked tokens and dumping them through DeFi pools, which broke the stablecoin’s peg and prompted Resolv to pause protocol functions as it assessed the damage.The token dropped as low as $0.14 (86% below its intended $1 price) after the exploit before rebounding to $0.42 at…
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The latest on-chain data shows that a prominent Ethereum whale has returned to the crypto market over the past week, as the ETH price persists above the $2,000 level. ETH Whale Held $538M In Crypto In 2022 According to data from Arkham Intelligence, an Ethereum OG whale known as thomasg.eth has been on an Ether buying spree (valued at approximately $19.5 million) over the past week. The entity acquired spot Ether, wrapped ETH (WETH), and Aave-deposited ETH across Arkham-tracked wallet addresses, with the latest purchase worth $3…
Gold is approaching a technical bear market, down nearly 20% from its January all time high. Traditionally viewed as a store of value and hedge against geopolitical uncertainty, gold’s recent performance challenges that narrative. Despite escalating tensions in the Middle East, prices have fallen around 10%, since the war started at the end of February.Markets have also repriced the interest rate outlook, with cuts now largely pushed out and policy expected to remain restrictive through December 2026. At the same time, rising oil prices, driven by geopolitical risk, are adding upward pressure on inflation, reinforcing the higher for longer rate…
Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting…
Bitcoin (BTC) erased much of its US-Iran war-driven gains this week, moving back in sync with the broader downtrend in risk assets, mainly US equities.Key takeaways:Bitcoin’s positive flip in S&P 500 correlation has historically preceded average declines of around 50% since 2018.BTC is exposed to a broader risk-asset sell-off due to rising macro pressure.As of Sunday, BTC/USD had fallen 5.65% week-to-date to about $68,700, while the S&P 500 (SPX) closed the week down 1.90%.BTC/USD weekly chart. Source: TradingViewThat renewed correlation is now signaling a greater risk of further downside in the Bitcoin market.BTC drops 50% on average when it starts…
XRP ($1.39 · Live)-Primed-For-Bullish-Eruption-As-Ripples-Garlinghouse-Believes-Truth-Will-Come-To-Light-In-SEC-Case.jpg” class=”attachment-post-thumbnail size-post-thumbnail wp-post-image” alt=”XRP Primed For Bullish Eruption As Ripple’s Garlinghouse Believes ‘Truth Will Come To Light’ In SEC Case” decoding=”async” fetchpriority=”high” >XRP recently lost its aggregate holder cost basis, a key psychological level that often triggers stronger selling pressure.
The math has turned against bitcoin miners, and the war is making it worse every week.Checkonchain’s difficulty regression model, which estimates average production costs based on network difficulty and energy inputs, pegged the figure at $88,000 per bitcoin as of March 13. Bitcoin is trading at $69,200 as on Sunday morning, creating a gap of nearly $19,000 per coin and meaning the average miner is operating at a 21% loss on every block produced.The cost squeeze has been building since October’s crash took bitcoin from $126,000 to below $70,000, but the Iran war accelerated it. Oil above $100 feeds directly…