Author: Alice Trout
In a remarkable turn of events, the Crypto Fear & Greed Index has recently soared to levels not witnessed since the peak of the crypto market rally in November 2021. The index currently stands at 72, out of a possible 100, firmly placing it in the “greed” category. This marks a significant increase of six points from October 24 and a remarkable 16-point jump from its “neutral” rating of 50 on October 18. This surge in market sentiment coincides with a renewed wave of enthusiasm regarding the potential approval of BlackRock’s spot Bitcoin exchange-traded fund (ETF) by the United States…
Ferrari, the iconic luxury sports car manufacturer, is making a bold move into the world of cryptocurrencies by accepting digital assets as payment for its cars in the United States. According to the company’s Chief Marketing and Commercial Officer, Enrico Galliera, this groundbreaking decision is in response to growing requests from wealthy customers, and the program will soon be extended to Europe. While many blue-chip companies have been hesitant to embrace cryptocurrencies due to their volatility and regulatory uncertainties, Ferrari sees an opportunity to cater to a specific segment of its clientele. Notably, electric carmaker Tesla had briefly accepted bitcoin…
ESMA Report Highlights DeFi’s Current Size and Risks, Stresses Need for Continued Oversight In a recent report titled “Decentralized Finance in the EU: Developments and Risks,” the European Securities and Markets Authority (ESMA) stated that decentralized finance (DeFi) is yet to present a significant risk to overall financial stability. However, the regulator emphasized the necessity of continuous monitoring due to the sector’s potential vulnerabilities. Released on October 11, the report acknowledges the benefits and risks associated with the nascent DeFi ecosystem. ESMA’s primary conclusion is that, given the relatively small size of crypto-assets markets, including DeFi, and the limited contagion…
While Eastern Asia has witnessed a decline in crypto activity in recent years, Hong Kong is positioning itself as a potential catalyst for the region, providing a regulated environment for digital assets, according to research firm Chainalysis. Although the broader implications for China remain uncertain, this trend might signify an evolving stance in Beijing towards the cryptocurrency industry. Regional Crypto Activity Decline: Chainalysis notes that Eastern Asia has become the fifth most active crypto market, representing 8.8% of global crypto activity from July 2022 to June 2023. The decline in cryptocurrency activity in Eastern Asia has been noticeable in recent…
Thailand is set to impose taxes on the foreign earnings of crypto traders, implementing stricter measures to close a loophole that previously allowed overseas income to enter the country without taxation. The new regulation has been introduced by Thailand’s Revenue Department, with the aim of funding the proposed economic stimulus, as reported by BangkokPost. To boost the national economy, Thailand recently introduced the “digital wallet” scheme, which is estimated to cost taxpayers around 560 billion baht. Legal experts have identified three specific targets of these new tax rules. These include Thai residents engaged in trading on foreign stock markets using…
Cryptocurrency has taken the financial world by storm, revolutionizing the way we think about money and transactions. At the heart of this digital transformation are cryptocurrencies like Bitcoin, Ethereum, and many others. In this article, we’ll delve into the exciting world of cryptocurrencies, exploring their impact, potential, and the key players shaping this rapidly evolving landscape. The Rise of Cryptocurrencies Cryptocurrencies have gained significant traction in recent years, with their total market capitalization reaching over $2.5 trillion. Bitcoin, the pioneering cryptocurrency, paved the way for this digital revolution and continues to dominate the market. However, numerous other cryptocurrencies have emerged,…
Paysafe Payment Solutions, Binance’s current banking partner for euros, will no longer support the crypto exchange after September 25th. Binance announced that they will be changing their provider for EUR deposits and withdrawals via Bank Transfer (SEPA), and Paysafe will cease to provide these services to Binance users. As of the mentioned date, Binance users will need to update their banking details for depositing into their Binance accounts and may be required to accept new terms and conditions to continue using SEPA services. SEPA, the Single Euro Payments Area, is the European Union’s integrated cross-border payment network for euro transactions.…
Blockchain technology is the backbone of cryptocurrencies like Bitcoin and Ethereum. However, its potential extends beyond the world of digital currencies. In this article, we’ll explore what blockchain technology is, how it works, and its potential applications beyond cryptocurrencies. What is Blockchain Technology? Blockchain technology is a distributed ledger technology that enables secure and transparent record-keeping. It works by creating a decentralized network of nodes that maintain and verify a shared database of transactions. Each block of data is encrypted and linked to the previous block, forming a chain of blocks (hence the name “blockchain”). How Does Blockchain Technology Work?…
The world of cryptocurrencies has captured the attention of investors all around the world, and trading cryptocurrencies has become a popular way to invest and potentially profit from this digital asset class. However, with the high volatility and constantly changing market trends, trading cryptocurrencies can be both rewarding and risky. In this article, we will explore the risks and rewards of trading cryptocurrencies, using examples from the cryptocurrency market. Rewards of Trading Cryptocurrencies High Potential Returns The high volatility of the cryptocurrency market can lead to high potential returns for traders. For example, in 2017, the price of Bitcoin skyrocketed…
Ethereum is a decentralized blockchain platform that enables developers to build decentralized applications (dapps) using smart contracts. It is the second-largest cryptocurrency by market capitalization after Bitcoin, and its use cases go beyond just being a digital currency. In this comprehensive guide, we will explore what Ethereum is, how it works, its features, and its potential use cases. What is Ethereum? Ethereum was created in 2015 by Vitalik Buterin, who saw the potential for blockchain technology to do more than just record transactions. He envisioned a platform that could execute smart contracts, which are self-executing contracts with the terms of…