Quantum (NASDAQ:QMCO) computing has the potential to significantly reduce Bitcoin’s energy consumption by improving the efficiency of Bitcoin mining. Quantum annealing, a type of quantum computing, can speed up the process of solving the hash function needed to mine BTC. Continue Reading on Coin Telegraph More
Ethereum’s price is set to reclaim the $2,000 level after breaking above significant resistance, according to the crypto analyst CryptoKaleo. Kaleo posted the projection on Twitter by sharing some screenshots of his technical analysis, indicating why he thinks the rally toward $2,000 will be quick.Using the two-hour chart on TradingView, CryptoKaleo showed that Ethereum has convincingly broken above a key trend line, confirming an upward momentum that should push the ETH’s price higher. At the time of the post, ETH traded at $1,814, according to data shared by CryptoKaleo.Hours later, the analyst posted another screenshot showing how ETH’s price responded to his earlier prediction. At the time of the post, Ethereum retested a significant resistance that held it down for almost two weeks. The resistance at $1,847 formed the upper limit of a tight range within which Ethereum traded for some time.Not long after CryptoKaleo’s second post, ETH’s price spiked and climbed above the resistance. The third screenshot he shared revealed Ethereum was trading at $1,862 and confirmed his prediction that ETH’s price would rally in haste.Ethereum traded at $1,851 at the time of writing after reaching a daily high of $1,872. CryptoKaleo predicts the quick rally will see ETH retest the $2,000 price level. At that price, Ethereum would be testing another significant resistance that formed on May 5, 2023, after the price recovered from a local low of $1,806 on May 1, 2023.Ethereum has been in a bullish trend since the beginning of the year. Data from TradingView shows Ethereum’s yearly opening price was $1,195. A bull run in the first half of the year sees the flagship altcoin recording a 55% gain, based on the price as of the time of writing.Several users project ETH’s price would rally higher to lead an altcoin season ahead of the next Bitcoin halving. Analysts project the upcoming halving will catalyze a bull run for the entire crypto market that could lead to most top cryptos recording new all-time highs.The post Popular Crypto Analyst Predicts ETH’s Price to Reach $2K Soon appeared first on Coin Edition.See original on CoinEdition More
Blockchain analytics platform Nansen has announced the removal of Lido NFTs from its NFT Paradise service. Nansen’s NFT Paradise is a platform offering detailed analytics on the NFT market, helping users understand transactions, trends, and dynamics. Nansen’s decision was influenced by user votes following a recent mishap involving Lido, a decentralized finance (DeFi) platform. Lido’s staked withdrawal requests were mistakenly represented as NFTs, leading to an unexpected increase in NFT mint volume.Lido stated last month that users would receive NFTs as part of the deposit withdrawal procedure. Any time a user unstakes Ether, the decentralized finance protocol issues NFT certificates, which are used to claim their ETH tokens.The massive spike, which involved a whopping 430k ETH (approximately $780 million), was initially interpreted as a surge in the NFT market. However, closer investigation revealed that this was due to a technical issue rather than genuine market activity. Nansen went on to clarify that the NFT market is not yet back to robust health, tempering expectations for a swift recovery in the near future.Nansen has previously stated that throughout Q1 2023, NFT trading volumes in Ethereum (ETH) and USD were on the rise. Specifically, a total of 2,839,354 ETH were transacted in Q1, compared to 1,525,471 ETH in Q4 of the previous year. March 2023 marked a yearly high in NFT sales. This surge was largely driven by Blur, an emerging NFT marketplace that quickly overtook established marketplaces to lead the industry in sales.Despite the uptick in sales and users during Q1, a slowdown in the NFT market was observed in April. Volumes transacted in April saw a drop compared to March, and this trend appears to have continued into May. The total number of NFT holders also increased modestly in Q1, 2023, reaching 13,999,528 compared to 11,233,872 NFT holders in Q4, 2022.The post Lido NFTs Axed from Nansen’s Service After Mint Volume Mishap appeared first on Coin Edition.See original on CoinEdition More
The co-founder of MicroStrategy and notorious Bitcoin (BTC) fan Michael Saylor, shared some of his thoughts relating to the crypto space in a recent interview at the Bitcoin 2023 conference which was held between 18-20 May in Miami. One of the focus points from the interview was the lack of regulatory clarity around crypto, which Saylor stated is intentional.According to Saylor, the limited adoption of Bitcoin as a treasury reserve asset among public companies, with only 24 listed companies holding it according to CoinGecko, may not be surprising considering various factors. Saylor pointed out that one significant challenge is the accounting treatment of Bitcoin as an indefinite and intangible asset.He explained that this discourages investment due to the inability to write up its value. In addition to this, the entrepreneur explained that the crypto market’s complexity and confusion, especially with numerous other cryptocurrencies and recent regulatory crackdowns, have made conservative CFOs cautious.However, Saylor believes that Bitcoin’s credibility has been strengthened through the failures of other crypto companies, highlighting its uniqueness as a commodity. The resolution of regulatory issues and the normalization of accounting practices may eventually lead more companies to consider Bitcoin as a substantial asset allocation, according to Saylor.With regard to the lack of regulatory clarity in the cryptocurrency industry, Michael Saylor believes it is seen by many in the industry as intentional rather than accidental. For example, Coinbase (NASDAQ:COIN), a major crypto company, threatened to leave the US without clearer regulations and is suing the SEC for lack of transparency.One of Saylor’s stand-out statements was the fact that he referred to himself as a Bitcoin realist. Ultimately, Saylor firmly believes that Bitcoin’s integration into traditional institutions seems inevitable due to several economic, physical, and political factors.Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.The post Lack Of Clear Crypto Regulation Intentional: Michael Saylor appeared first on Coin Edition.See original on CoinEdition More
The renowned crypto trader and analyst, Michael van de Poppe, revealed in two tweets posted yesterday that he was bullish on Avalanche (AVAX), but he believes the same could not be said for the trending meme coin Pepe (PEPE). According to the post, van de Poppe believes that PEPE’s current downtrend is likely to continue in the next few days.The trader also shared that every block of resistance on the meme coin’s chart is an area to short PEPE. If the price of PEPE fails to stay above the crucial $0.0000016 level, van de Poppe suggested that this would create the perfect shorting opportunity. He added that traders can continue to short PEPE until it drops to $0.00000147 or even $0.00000115.PEPE price (Source: CoinMarketCap)Data from CoinMarketCap indicated that, at press time, PEPE was trading below the $0.0000016 level at $0.000001568. This comes after the meme coin suffered a 0.40% price drop over the past 24 hours, which also pushed PEPE’s weekly performance even further into the red at -6.88%.On the other hand, van de Poppe pointed out a bullish divergence in AVAX’s higher timeframe support in a separate tweet. The trader explained that the altcoin’s next move will likely depend on what Bitcoin (BTC) does next. However, he did believe that if AVAX can climb above $14.80, it could trigger a strong confirmation of the bullish divergence.AVAX price (Source: CoinMarketCap)At press time, AVAX was one of the cryptocurrencies trading in the green after a 2.97% price increase over the past day. As a result, AVAX was trading just below the important $14.80 level at $14.78.Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.The post Popular Crypto Trader Predicts Continued Downtrend For PEPE appeared first on Coin Edition.See original on CoinEdition More
Gracy Chen, Bitget’s managing director, said, “We understand that regulation is the future of the cryptocurrency industry if mainstream adoption is to be achieved. The recent registrations in the two European countries enhance our foothold and service in Europe.”Continue Reading on Coin Telegraph More
Binance, one of the leading cryptocurrency exchanges, has confirmed its support for the upcoming network upgrades of Fetch.ai (FET) and Terra Classic (LUNC). The upgrades are set to enhance the functionality and performance of these blockchain networks, providing users with improved features and stability.The Fetch.ai (FET) network upgrade is scheduled at the Fetch.ai block height 11,235,813, estimated to be around 2023-05-23 13:00 (UTC). In preparation for the upgrade, Binance will temporarily suspend deposits and withdrawals of FET starting from 2023-05-23 at 12:00 (UTC). However, it’s important to note that trading of FET will continue uninterrupted during this period.Similarly, the Terra Classic (LUNC) network upgrade will occur at the Terra Classic block height of 12,902,400, expected to be around 2023-05-23 22:00 (UTC). Binance will temporarily suspend deposits and withdrawals for LUNC and USTC via the Terra Classic network, starting from 2023-05-23 at 21:30 (UTC). However, this period will not affect trading activities involving LUNC and USTC.Binance has assured its users that the exchange will handle all technical requirements related to the network upgrades. Users holding FET, LUNC, and USTC in their Binance accounts can rest assured that their assets will be safe and secure during the upgrade process, according to Binance.Following the network upgrades, Binance will monitor the stability of the upgraded networks before reopening deposits and withdrawals for FET, LUNC, and USTC. Users will not be notified through a separate announcement, so staying updated with Binance’s official channels for the latest information is recommended.The post Binance Confirms Support for Fetch.ai and Terra Classic Upgrades appeared first on Coin Edition.See original on CoinEdition More
OKX, the world’s second-largest cryptocurrency exchange by volume, has reportedly applied to become a registered Digital Asset Service Provider (DASP) in France. OKX filed under the requirements outlined by Autorité des Marchés Financiers (AMF) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR).Last April, the cryptocurrency exchange incorporated OKX France as part of plans to expand its European presence. Registering with the AMF will allow OKX to offer several products and services to customers in France without falling short of local regulations.According to Tim Byun, OKX Head of Global Government Relations, The French DASP regulation provides a clear and secure regulatory framework for digital asset service providers. Byun notes that OKX intends to play a role among the growing number of registered DASPs in France by growing the French ecosystem safely and soundly.OKX intends to make France a significant hub for its digital asset services. The exchange acknowledged France’s sound and transparent regulatory framework and its high concentration of crypto enthusiasts crucial for its development. It also noted the high rate of experienced traders and the highly qualified workforce in France as factors that would enhance its growth.Representing the French government, Jean-Noël Barrot, Minister Delegate to the Ministry of Economy, Finance and Industrial, and Digital Sovereignty, in charge of Digital Transition and Telecommunications, expressed delight over OKX’s decision to expand to France. According to Barrot, the decision confirms France’s aspirations to become a key player in Web3 technologies.He said,OKX is licensed in the Bahamas and has a provisional license from VARA in Dubai. In March, the crypto exchange announced plans to apply for virtual asset service provider licenses in Hong Kong.The post OKX Crypto Exchange Applies to Become a Registered DASP in France appeared first on Coin Edition.See original on CoinEdition More
