Market News

Crypto-Market-To-Escape-Narrowest-Trading-Range-by-2024
Crypto Market To Escape Narrowest Trading Range by 2024

The crypto market may break out from its current trading range by 2024. So far, the current market is in its narrowest trading range in history. Some believe that the market has stabilized already. Despite yet another market bloodbath experienced by most cryptocurrencies, an expert believes that crypto assets will be able to break out from their current trading range on — or possibly — before 2024. According to an article by Bloomberg, this is the “narrowest” trading range recorded for the market so far. Also, the leverage ratios for Bitcoin (BTC) and Ethereum (ETH) are “at the highest on

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Saudi-Arabia-Takes-Affirmative-Action-for-Crypto-Adoption
Saudi Arabia Takes Affirmative Action for Crypto Adoption

The Kingdom of Saudi Arabia appointed its first cryptocurrency chief.  Mohsen AlZahrani will lead the nation to its crypto goals. Saudi Arabia will likely be a major competitor to crypto wall street — Dubai. The Kingdom of Saudi Arabia has taken a huge step to making crypto adoption a more serious priority. In detail, Saudi Arabia’s central bank has just appointed a cryptocurrency chief. The nation’s goal is to advance its digital goals.  In particular, Saudi Arabia appointed Mohsen AlZahrani to lead both its virtual assets as well as its central bank digital currency program. It is doing so to

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Too-Much-Power-Behind-Crypto-to-Ban-It-US-lawmaker
Too Much Power Behind Crypto to Ban It: US Lawmaker

Brad Sherman, a congressman, discussed cryptocurrency and their regulation. He does not think crypto is going to be banned anytime soon. Crypto enthusiasts respond that the technology could be of help. In an interview with the Los Angeles Times published on Sunday, Congressman Brad Sherman (D-CA) discussed his opinions on cryptocurrencies and their regulation. The Californian congressman who leads a House subcommittee on investor protection wants to make Bitcoin illegal, but he doesn’t think Congress will act that way. He told the news source, “I don’t think we’re going to (ban crypto) anytime soon.” We didn’t ban it at the

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Thailand Goes Ballistic on Crypto Ads After Zipmex Disaster
Thailand Goes Ballistic on Crypto Ads After Zipmex Disaster

Thailand has enforced stricter guidelines on advertisements by crypto companies that operate in the country. The move aims to protect the interests of its citizens considered retail investors. Some suspect that the country started to take drastic action after local crypto exchange Zipmex halted withdrawals. Thailand has tightened its stance against advertisements related to cryptocurrency trading or investing, given the ongoing volatility in the crypto market. According to a Bloomberg article, the country aims to protect the interests of its citizens interested in investing in crypto. In detail, Thailand now demands cryptocurrency-related companies that operate in the country to indicate

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US Food Truck Allows Customers to Pay With Bitcoin (BTC)
US Food Truck Allows Customers to Pay With Bitcoin (BTC)

The Nashville-based falafel truck will now let customers pay with Bitcoin. The state has shown resistance to digital assets in the near past. Cryptocurrency adoption has increased as assets other than Bitcoin have also gained publicity. Following recent updates, the Nashville-based falafel truck is now allowing customers to pay with Bitcoin (BTC) through the strike. The move makes the popular food truck one of the first businesses in the city to accept cryptocurrency payments. The falafel truck, which is operated by Basha’s Mediterranean Street Food, updated its website to reflect the new payment option. Customers can now use either Bitcoin

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The-USA-Leads-Crypto-Adoption-Race-With-46m-Users
The USA Leads Crypto Adoption Race With 46m Users

Cryptocurrency has the potential to be an important part of the future. The USA is leading in the adoption race. Rising acceptance rates in Africa also is being advised. In spite of the fact that cryptocurrency has the calling to be a vital part of the future, many organizations, states and individuals remain hesitant to accept this new type of currency. However, as crypto usage continues to surge, finance cryptocurrency has helped countries catch up with the leading crypto adopters such as the USA and India. Crypto is a competitive marketplace for everybody, and access is not restricted to a

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15% of Adult Indians Hold Cryptocurrency or Bitcoin
15% of Adult Indians Hold Cryptocurrency or Bitcoin

An estimated 115 million people in India are bitcoin investors. By 2030, it is projected that India’s crypto market would have a $241 million market valuation. Crypto users are perplexed by the government’s strict regulations. The results of a survey report titled “Into the Cryptoverse, India”  were released by the cryptocurrency exchange KuCoin. The analysis examines the growth of the cryptocurrency and blockchain sectors in India. Data from KuCoin, a worldwide cryptocurrency exchange, claims that despite the government’s anti-crypto stance, India has an estimated 115 million (which adds up to 15% of the country’s adults), cryptocurrency investors, with a “sentiment

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South-Korea-Slaps-Hefty-Gift-Tax-on-Crypto-Airdrops
South Korea Slaps Hefty Gift Tax on Crypto Airdrops

South Korea will implement a gift tax of crypto assets such as airdrops.  These gift tax laws will come into play this fiscal year.  Those subject to the gift tax must file for a gift tax return within the designated time period. According to a Reddit post that translated a news article from South Korea, it seems the nation has pushed another tax on crypto assets. In particular the South Korean government is imposing a 10%-50% gift tax on free transferable cryptos including airdrops.  Specifically, the tax was called for by the South Korean Ministry of Strategy and Finance. They

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UK-Inflation-Anticipated-to-Reach-18
UK Inflation Anticipated to Reach 18.6%

The UK’s inflation might rise to 18.6%, which would be a 50-year high. The surge in July was mostly caused by rising food costs The office of the prime minister is proposing household supporting policies. According to the most recent Citigroup prediction, the UK’s inflation might reach a near 50-year high of 18.6% early next year as a result of skyrocketing wholesale gas costs, writes Andrew Michael. Individuals have gone ahead to give out their views suggesting it could be the same reason as to why they haven`t seen any bull run lately. It however now makes sense to them

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BTC-and-ETH-See-Higher-Levels-of-Short-Trade
BTC and ETH See Higher Levels of Short Trade

The last day has seen the large cryptocurrency pairs fall. The market has however rebounded a bit. ETH price looks for equilibrium searching for direction in a possible sideways patch. The last day has seen the large cryptocurrency pairs fall in value, causing a bit of panic in the market. This comes after Bitcoin(BTC) and Ethereum(ETH) fell below $20.9k which was last seen in mid-July. However, the market has rebounded a bit and cryptocurrencies are seeing higher levels of short trades coming in as people fear such drops as earlier seen in June when the price of bitcoin jumped about

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Canadian-Exchanges-Increase-Buy-Limit-to-$30k
Canadian Exchanges Increase Buy Limit to $30k

Canada imposes a new buy cap of 30k for her users. The new regulation also applies to “restricted coins,” which are cryptocurrencies other than BTC, ETH, LTC, and BCH. Ontario has just adopted new crypto-specific regulations. According to reports, to enhance consumer safety, Newton, Bitbuy, and other Canadian cryptocurrency exchanges declared they would impose a new net buy cap of 30,000 CAD for users in Ontario. Other cryptocurrencies outside BTC, ETH, LTC, and BCH and “restricted coins” are also subject to the new rule. This happened after Toronto-based cryptocurrency exchange Newton filed to register with the Ontario Securities Commission (OSC)

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UK-inflation-hits-a-new-40-year-high-of-10
UK inflation hits a new 40-year high of 10.1%

In July, the UK’s inflation rate increased sharply to 10.1%. Consumer price inflation has been driven by higher food prices. British central bank predicted the future of the rates. UK inflation accelerated more than expected last month to the highest in 40 years, intensifying a squeeze on consumers and adding to pressure for action from the government and Bank of England. The Consumer Prices Index rose 10.1% in July from a year earlier after a 9.4% gain the month before, the Office for National Statistics said Wednesday. The reading was higher than expected by both the BOE and private-sector economists. 

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