DeFI News by Thebittimes.Com

Join Our Telegram channel to stay up to date on breaking news coverage Bears still control the market, but bear markets are the best time to buy low supply altcoins with potential for high investment returns. Here is the list of the best altcoins that have a chance of 10x your investment if you want to increase the growth of your cryptocurrency portfolio. C+Charge C+Charge is building a blockchain-based P2P payment system for EV charging stations. Users will receive electronic wallets to use at charging stations worldwide. The C+Charge utility token pays for each charge. Using the app’s crypto wallet eliminates the requirement for a point-of-sale system, cutting charging station owner costs. When an EV motorist pays for a charge using C+Charge utility token, they receive carbon credits in their app. “Reflections” will earn token holders carbon credits. EV drivers and C+Charge token holders can use corporate carbon credits. Why C+Charge It’s Crypto-Fu...

Source: Lucas/Adobe The Chinese government has announced plans to launch its own version of a state-backed “non-fungible token (NFT)” market place . But Beijing won’t be using blockchain to power its platform. And it wants to do away with crypto as the market place ’s currency – in favor of fiat. Last month, the Hangzhou Internet Court ruled that virtual items such as NFTs can be legally recognized as property. And now, the China Daily reported, Beijing will launch the China Digital Asset Trading Platform (literal translation). The government says that the platform will go live on January 1. Beijing says it will become an official “secondary market for digital assets that comply with national regulations.” China has effectively banned crypto trading. And that has meant that conventional NFT trading has become almost impossible in the nation. In the rest of the world, NFTs are minted on blockchain networks, where they can be t...

Shiba Inu investors have been in distress for quite some time now. The price of the asset remains stagnated and holders have not been profitable on their investments. Data from CoinMarketCap revealed that the price of the asset has lost nearly 5% of its value over the past week. In fact, Shiba Inu’s market cap also lost the $4.5 billion threshold and stood at $4.37 on Thursday. At press time, SHIB was trading below $0.000008, at $0.00000796. The state of the coin’s Shape Ratio justified the investor distress narrative. Barring a handful of instances, the reading of this metric has mostly hovered in the negative territory this year. This indicates that market participants were not fetched with adequate returns for the risk borne by them. With the price dunking over the past week, the reading of this metric continues to hover in negative territory. In fact, it flashed a negative reading of 2.48 on Thursday. Source: Messari Also Read: Shiba Inu Bulls vs. Bears: Who ...

A lack of excitement on order books is just one sign that downside volatility could easily resume, says Material Indicators. Bitcoin (BTC) is not about to bottom at just below $17,000, new analysis warns as bid liquidity dries up. In social media posts after Christmas, on-chain analytics resource Material Indicators flagged waning interest in protecting the current BTC price range. Binance order book leaves "not much to be excited about" With volatility still largely absent from Bitcoin markets, analysts are keenly eyeing what could happen at this week’s yearly close. The closing price for BTC/USD on Dec. 31 will also m Ark the conclusion of the weekly and quarterly candles, and any flash volatility could turn 2022 into a nightmarish bear market year. As Cointelegraph reported, the pair is currently down around 60% year-to-date, while versus its latest all-time high from November 2021, it has lost 76%. This may still not be enough to cap the bear market, various analysts ha...

Given the market slowdown, the XRP price prediction remains bearish as it struggles below the $0.3715 level. Despite occasional setbacks, like the bankruptcies and arrests of some of its previous major players, several governments are eager to join the crypto bandwagon and are considering the formation of national stablecoins. Republic of Palau President Surangel S. Whipps Jr. informed Bloomberg's Joanna Ossinger in September that the country's IT staff was actively working with blockchain company Ripple Labs to explore the prospect of developing a "national stablecoin." As a result, it is exerting bearish pressure on XRP, causing its price to fall. XRP Price Prediction The XRP/USD pair is currently trading at $0.3560 with a small bearish bias. The XRP/USD has been struggling under the $0.3715 level, and candle closings below this level have triggered a bearish movement. XRP is currently trading sharply lower near the 0.3576 level. A break below th...

2022 has been the year of crypto layoffs. From the biggest to the smallest, a plethora of firms reduced their workforce in response to the gruesome bear market. Adhering to the market conditions, NEAR Protocol’s Octopus Network will be bidding adieu to 40 percent of its workforce. As per reports, 12 out of 30 members will depart from the core team. In addition to this, those who will be retained at the firm will endure a 20 percent cut in their salary. Token incentives for the members of the Octopus Network are out of the picture for some time at least. In an elaborate Medium post titled “Core Team Refactoring for Octopus 2.0” Louis Liu, the founder of the network pointed out how this time’s crypto winter is much harsher than the previous ones. Further making a prediction about the ongoing market, Liu said, “..the crypto winter will last at least another year, perhaps much longer. Most Web3 startups will not survive. I wouldn’t recommend that o...

SHIB Super Store, a Twitter account related to Travis Johnson’s SHIB burn games, revealed in Q2 this year that Shiba Inu tokens could be burnt via Amazon. The store was added to Amazon’s affiliate program and used “between 1% and 20% of purchase price” of users’ products to buy SHIB tokens to be burned. The official handle of SHIB Super Store recently brought to light that it burned 19.2. million tokens. In fact, the Amazon Burner intends to start burning “some serious SHIB” going forward. Burn and reward! 19.2M Burned 19M Rewarded to members of the Discord! Totaling a little over $320 for the week. Hope everyone had a great Holiday season, work is calming down and i'm healthy again, let's try to burn some serious SHIB.https://t.co/d0goxr6sys pic.twitter.com/hTWdtIxnIe — SHIB Super Store (@shib_superstore) December 26, 2022 Also Read: Shiba Inu: Is A 20% Rally To $0.00001 On The Cards? Data from Shib Burn brought to light th...

Ahead of the holidays and new year, the former U.S. National Security Agency (NSA) contractor known to the world as a staunch privacy advocate and whistleblower, Edward Snowden, has offered to step up as the new CEO of Twitter after current “Chief Twit” Elon Musk has said he is stepping down. In other news from this week, hedge fund manager Michael Burry — of “The Big Short” fame — said that audits of cryptocurrency exchanges like FTX and Binance are “meaningless.” Get caught up on these hot stories and much more just below in this latest issue of the Bitcoin.com News Week in Review. Elon Musk Promises to Step Down as Head of Twitter — Edward Snowden Throws His Name in the Hat for CEO Tesla CEO and Twitter chief Elon Musk has promised to step down as head of Twitter. As the billionaire seeks a new CEO to run the social media platform, privacy advocate Edward Snowden threw his name in the hat, stating that he takes payment in bitcoin. “The question ...

The Bitcoin mining community took up massive loans during the 2021 bull market, negatively impacting their bottom lines during a subsequent bear market. The recent Bankruptcy filing of Bitcoin (BTC) miner Core Scientific despite a $72M relief offer from creditors raised questions about the overall health of the Bitcoin Mining community amid a prolonged bear market. Turns out, the public Bitcoin miners owe more than $4 billion in liabilities and require an immediate restructuring to get out of the unsustainably high debt levels. The Bitcoin mining community took up massive loans during the 2021 bull market, negatively impacting their bottom lines during a subsequent bear market. Bitcoin mining data analytics by Hashrate Index show that just the top 10 Bitcoin mining debtors cumulatively owe over $2.6 billion. Public Bitcoin mining companies with highest debt. Source: Hashrate Index Core Scientific, the biggest debtor among the lot — with $1.3 billion in liabilities on its balance sheet...

Payments company Ripple and its native token XRP have consistently been in the news of late, thanks to the back-to-back pre-Christmas developments taking place w.r.t. its ongoing lawsuit against the US Securities and Exchange Commission. On Thursday, for instance, the regulatory agency requested the court to seal certain documents related to motions for the summary judgment. Leaving aside the lawsuit development, a noteworthy milestone was achieved within the Ripple ecosystem recently. Data from XRP Ledger Service revealed that the number of account holders on the platform surpassed the 4.5 million mark. At press time, the exact figure stood at 4,506,950. Basically, the XRP Ledger [ XRPL ] is a decentralized, public blockchain that fosters payment transfers. The rise in the number of account HODLers points toward the entry of new participants into the ecosystem. Source: XRP Ledger Services XRP Trends On Social Platforms The sentiment associated with the XRP token has bee...

This year saw the realignment of the crypto industry toward greener, more energy-efficient blockchains. 2022 saw the continued advancement of green crypto projects as more industry companies focused on sustainability to reduce carbon emissions. A series of elemental forces drove the paradigm shift, including user demands for faster and more energy-efficient blockchains, growing climate change awareness among investors, and rising government concerns about energy consumption in the crypto sector. Among the most notable eco-friendly crypto developments in 2022 was the transition of the Ethereum Blockchain from a proof-of-work (PoW) to Proof-of-Stake (PoS) consensus layer. The Merge, completed in September, joined the original execution layer of Ethereum with its new PoS consensus layer, the Beacon Chain. It eliminated the need for energy-intensive mining by enabling the network to be secured using staked Ether (ETH). The conversion reduced the Ethereum network ’s energy consumption b...

Source: Twitter/FightOut Disclaimer: The Industry Talk section Features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. The FightOut (FGHT) presale has now raised over $2.2 million, following the news that the move-to-earn platform has received verification from blockchain auditing firm CertiK. CertiK's security assessment found no critical vulnerabilities in FightOut's code, with two other potential vulnerabilities of less severity being mitigated by FightOut as part of the assessment.  This verification from CertiK effectively provides FightOut with a clean bill of health for its upcoming launch, which is due in the second quarter of the year. At the same time, it also provides investors in its presale with the assurance that project is entirely legitimiate and serious about providing value to its community. CertiK Crypto Auditing Firm Just Approved This New Project – Here’s What You Need to Know A...

On Dec. 21, 2022, U.S. attorney Damian Williams announced that the Southern District of New York (SDNY) Department of Justice (DOJ) filed charges against Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang. Williams declared that both Ellison and Wang have been cooperating with law enforcement officials. The U.S. Securities and Exchange Commission (SEC) also charged Wang and Ellison the same day, and the Commodity Futures Trading Commission (CFTC) followed suit with charges. “Caroline Ellison and Gary Wang acknowledge liability,” the CFTC said in a statement on Wednesday. Wang and Ellison Are Cooperating With Law Enforcement U.S. attorney Damian Williams and the SDNY Department of Justice (DOJ) announced that the government has filed fraud charges against FTX co-founder Gary Wang and Alameda Research CEO Caroline Ellison. “Both [Ellison and Wang] have pleaded guilty to [the] charges,” Williams told the press. “And they are both cooperating with the [SDNY]. ...

Miners are in deep trouble due to increased hash rate and energy costs, but pro traders slightly added to their longs despite the recent BTC pullback. Bitcoin (BTC) price lost 11.3% between Dec. 14 and Dec. 18 after briefly testing the $18,300 resistance. The move followed a 7-day correction of 8% in the S&P500 futures after the U.S. Federal Reserve chair Jerome Powell issued hawkish statements after raising the interest rate on Dec. 14. Bitcoin price retreats to channel support Macroeconomic trends have been the main driver of recent movements. For instance, the latest bounce from the 5-week-long ascending channel support at $16,400 has been attributed to the Central Bank of Japan's efforts to contain inflation. Bitcoin 12-hour price index, USD. Source: TradingView The Bank of Japan increased the limit on government bond yields on Dec. 20, which are now trading at levels unseen since 2015. However, not everything has been positive for Bitcoin as miners have struggled with the...