BITCOIN

Europe’s top securities regulator has warned that soaring inflation could drive investors to cryptocurrencies. Stressing that there is “an imbalance” in how each EU country deals with crypto, the regulator calls for a common regulatory framework across European countries. Inflation Could Drive Investors to Crypto, EU Regulator Says The European Securities and Markets Authority (ESMA), the EU’s top securities markets regulator, has warned that soaring inflation may drive retail investors into cryptocurrencies, Bloomberg reported Thursday. The regulator has also called for a formal legal framework to govern the crypto industry across all EU countries. ESMA Chair Verena Ross said in an interview last week: With inflation rising, investors will look to find investments which are able to try to compensate for inflation and bring greater returns, which might lead to greater risk taking. “That is something we are monitoring very closely,” she emphasized. Many investors believe that

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has predicted that a depression and civil unrest are coming. He also warned of the stock and bond markets crashing. Robert Kiyosaki on Markets Crashing, Depression, and Civil Unrest The author of Rich Dad Poor Dad, Robert Kiyosaki, has issued more warnings about the U.S. economy. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki claims that liberals and environmentalists are to blame for a reduction in oil production, which he said caused inflation, while stimulus checks paid workers not to work. Besides predicting that the stock and bond markets are crashing, he warned that a depression and civil unrest are coming. The famous author also noted that inflation is killing retailers, even giant

In the crypto industry, investors are always on the search for undervalued projects that have the greatest potential for increasing early investors’ returns. Finding these hidden gem initiatives just before noteworthy launches is an easy way to profit. Mars4 is one of these projects to keep an eye on, as the team behind it is working on exciting new releases that will be available the next month. These updates will boost the game’s economy and provide players with a sneak peek at the upcoming game. The community should expect the Mars4 project to acquire credibility as a result of these changes, bringing additional investors to the initiative. What exactly is Mars4? Mars4 offers non-fungible tokens (NFTs) that represent virtual Mars . All NFTs are unique in terrain and were modeled using NASA data to make them accurate representations of the Red Planet. The planned Mars metaverse game will make use of these land parcel NFTs. In the game, you can explore your virtual property, g

India’s economic affairs secretary has reportedly revealed that the government’s consultation paper on cryptocurrency is “fairly ready.” He explained that the Indian government is looking at “a global paradigm on digital assets,” emphasizing that “There has to be a broad framework on which all economies have to be together.” Economic Affairs Secretary Ajay Seth on Crypto Indian Economic Affairs Secretary Ajay Seth provided an update Monday on the government’s progress to establish India’s crypto policy. Speaking about the government’s consultation paper on crypto, he was quoted by CNBC TV18 as saying: Our consultation paper is fairly ready and we went into a deep dive and have consulted not just the domestic institutional stakeholders but also the World Bank, and the International Monetary Fund. “So we hope that we will soon be in a position to finalize our consultation paper,” the economic affairs secretary added. In April, Bitcoin.com News reported that Indian finance minis

The CEO of Bank of America says that his bank has hundreds of blockchain patents but regulations will not allow it to engage in crypto. “The reality is that we can’t do it by regulation,” he said. Bank of America’s CEO on Crypto Bank of America (BOA) CEO Brian Moynihan talked about cryptocurrency in an interview with Yahoo Finance Live at the recent World Economic Forum event in Davos, published Saturday. He was asked about his bank’s plans for cryptocurrencies. “The reality is that we run a payments business across our platform. It’s trillions of dollars a day, and almost all of it is digital,” the executive replied, adding: If you think about the blockchain, we have hundreds of patents on blockchain as a process and as a tool and as a technology. However, with regard to cryptocurrency, he revealed: “We’re not engaging in accounts for people in cryptocurrency … we’re not allowed to, frankly.” The Bank of America chief explained: “Because we’re regulated and they [regulators]

PRESS RELEASE. In a radically different approach to handling an NFT sale, PlanetQuest, has just launched its community friendly Planet Sale at planetquest.io. The Cinematic Multiverse and Blockchain Game, backed by Hollywood and Gaming talent, top tier investors and a community of over 215.000 Explorers, is pioneering a whole new sales approach that promises to eliminate gas wars, frustration and front running bots, while ensuring their first ever, real-time 3D Planet NFTs end up in the hands of deserving buyers and community members. After coming out of stealth on the 15th of December of 2021, PlanetQuest had already built a massive fanbase. With its interactive storyline, that saw community members voting to decide the fate of beloved characters, closing in on the end of its first season, an ancient artifact, known as The Cradle, has been discovered and activated, opening wormholes to unexplored galaxies, and setting the stage for the next phase of the PlanetQuest journey: The Co

The average Ethereum network fee has dropped to the lowest value recorded in over ten months, after fees hit a low of $2.96 per transaction on Sunday afternoon (ET). The last time ethereum transfer fees dropped below the $3 mark was last year on July 11, 2021. Moreover, median fees are even cheaper, as the median-sized ethereum transaction fee on May 29 is around 0.00086 ether or $1.56 per transfer. Ethereum Gas Costs Sink to Lowest Levels Since July 2021 Ethereum network fees are the cheapest they have been in over ten months and around 12 p.m. (ET) on Sunday, the average ETH transfer fee slid to a low of $2.96 per transaction . As the day continued on, average ether fees have jumped a bit higher to 0.002 ether or $3.56 per transfer. Ethereum’s transaction fees have not been this low in quite some time. Bitcoin.com News has been covering the fact that gas costs have been dropping since mid-February and during the first week of March, ethereum transaction fees slid to just above

Crypto exchange Binance has received regulatory approval from Italy’s financial regulator to operate as a cryptocurrency service provider in the country. “Clear and effective regulation is essential for mainstream adoption of cryptocurrencies,” said Binance CEO Changpeng Zhao. Binance Now Licensed in Italy Binance announced Friday that Binance Italy “has received regulatory approval” through registration as a Cryptocurrency Service Provider with the Organismo Agenti e Mediatori (OAM), as required by the Italian legislation on crypto assets. The announcement states: The registration of Binance Italy … allows the company to offer crypto products to its customers in Italy. Binance Italy, established in recent months, is the legal entity of the Binance Group in Italy. Earlier this month, Binance said it has received approval from the French financial regulator , the Autorité des marchés financiers (AMF), to operate as a registered Digital Asset Service Provider (DASP). The crypto

Bitcoin remained consolidated over the last 24 hours, altcoins however, have dipped on their charts. Over the last week, the king-coin continued to register lateral price movements on the charts. Ever since November, 2021, price of Bitcoin has consistently moved on the downside. On the longer time frame, Bitcoin has continued to show signs of upcoming bearishness. On a comparatively, shorter time frame the king-coin might be hinting at a price reversal. Over the last 24 hours BTC made no gains. In the last week, it lost about 2% as the coin was mostly consolidating. Currently, BTC is sandwiched between $28,000 and $29,000 as those two levels have been acting as the coin’s crucial demand zone. The buyers seem to have clearly given up on the initiative to lead the price action and with continued strength from sellers, BTC might be eyeing the $20,000 price level. Bitcoin Price Analysis: One Day Chart Bitcoin was priced at $29,000 on the one day chart | Source: BTCUSD on TradingView BT

Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has warned of a looming consumer recession and more earnings trouble. He cited falling U.S. personal savings and record-setting revolving credit card debt despite trillions of dollars in stimulus money. Michael Burry’s Recession Warning Famous investor and founder of investment firm Scion Asset Management, Michael Burry, warned on Friday about a looming consumer recession and more earnings trouble ahead. He is best known for being the first investor to foresee and profit from the U.S. subprime mortgage crisis that occurred between 2007 and 2010. He is profiled in “The Big Short,” a book by Michael Lewis about the mortgage crisis, which was made into a movie starring Christian Bale. Burry explained on Twitter Friday: US Personal Savings fell to 2013 levels, the savings rate to 2008 levels – while revolving credit card debt grew at a record-setting pace back to the pre-Covid peak despite all those t

Ethereum has slid on its charts again at the time of writing. Over the last week, the coin lost about 10% of its value. The bears have strengthened in the market because the buyers have left the market. Technical outlook of the coin remained bearish and selling pressure mounted. The coin would continue to remain so over the next trading sessions. The coin also witnessed a sustained sell-off over the last 48 hours. Ethereum fell below its long standing support line of $1900.Over the last 24 hours the coin tried to recover itself but the bearish price action is still strong at the time of writing. The bears might be exerting pressure to push the coins below the price mark of $1700. A fall below the $1700 price mark will cause ETH to tumble further by another 19%. For the bulls to take a breather, ETH needs to trade above the $1900 price mark again. Ethereum Price Analysis: One Day Chart Ethereum was priced at $1700 on the one day chart | Source: ETHUSD on TradingView The altcoin was

Tesla CEO Elon Musk believes the U.S. economy is approaching a recession but he explained why it is “actually a good thing.” Musk has estimated that the upcoming recession will last 12 to 18 months. Elon Musk Discusses U.S. Recession Tesla and Spacex CEO Elon Musk shared his thoughts on the U.S. economy and the upcoming recession in a series of tweets Thursday. Responding to a question about whether “we’re approaching a recession,” he answered: “Yes.” However, Musk noted, “this is actually a good thing.” The Tesla boss explained that “It has been raining money on fools for too long,” stressing that “some bankruptcies need to happen.” He elaborated: “All the Covid stay-at-home stuff has tricked people into thinking that you don’t actually need to work hard. Rude awakening inbound!” His recession tweet followed a statement he made last week, stating that the U.S. economy is “probably” in a recession. He warned that things “will get worse,” and estimated that the recession could l

Bitso, one of the biggest cryptocurrency exchanges in Latam, has announced a series of layoffs due to the recent downturn in the cryptocurrency market. The exchange, which has a workforce of 800 workers, has decided to let go of more than 10% of its staff citing a change in the long-term strategy for the company, just when it had announced its expansion to Colombia. Crypto Exchange Bitso Lays Off Over 10% of Its Employees Bitso, one of the first cryptocurrency unicorns in Latam, has announced it is taking measures to preserve the operation of the company during the current market downturn. The Mexico-based exchange announced a series of layoffs that will affect its presence in the 35 countries where it has operations. According to local media, the exchange will be laying off 80 employees out of its total 600-employee workforce, with most of the layoffs happening in Mexico. About these layoffs, which cut the employee count by more than 10% for the company, Bitso declared: Our dec

Spacex and Tesla CEO Elon Musk says that dogecoin will soon be accepted at Spacex for merchandise, in the same way Tesla is accepting DOGE payments. Furthermore, Starlink subscriptions may also be paid with dogecoin “one day.” Spacex to Soon Accept Dogecoin for Merchandise Dogecoin got a little boost Friday when Tesla CEO Elon Musk announced via Twitter that Spacex will soon accept the meme cryptocurrency for merchandise. The Spacex boss tweeted: “Tesla merch can be bought with DOGE, soon Spacex merch too.” In addition, Musk said that Spacex’s Starlink subscriptions may “one day” be paid with dogecoin. Starlink provides “High-speed, low-latency broadband internet in remote and rural locations across the globe,” its website describes. Following Musk’s tweet about Spacex accepting dogecoin, the price of the meme cryptocurrency spiked. At the time of his tweet, DOGE was trading at $0.078399 per coin. It quickly rose more than 8% to $0.084927. However, the meme coin soon lost m

Several U.S. lawmakers have introduced a bill to prohibit app platforms in the country from hosting apps that enable transactions using China’s central bank digital currency, the digital yuan. “The Chinese Communist Party will use its digital currency to control and spy on anyone who uses it. We can’t give China that chance,” said the senator who introduced the bill. Defending Americans from Authoritarian Digital Currencies Act U.S. Senator Tom Cotton (R-Arkansas) introduced the “Defending Americans from Authoritarian Digital Currencies Act” Wednesday. The bill is co-sponsored by Senators Mike Braun (R-Indiana) and Marco Rubio (R-Florida). According to the text of the bill, the legislation seeks “To prohibit the use of the digital currency payment system operated by the government of the People’s Republic of China, and for other purposes.” Senator Cotton commented: The Chinese Communist Party will use its digital currency to control and spy on anyone who uses it. We can’t give C

Kalush Orchestra, the winners of the Eurovision Song Contest 2022, are auctioning off an NFT for charity. The auction started May 25 on MetaHistory — the official Ukrainian charitable NFT museum – and will last only until the 28th. Bids will be accepted in both cryptocurrency and fiat currency (via Monobank), thus creating a friendly competition for what type of currency can bring the most donations. Kalush Orchestra Auction NFT for Ukraine The Eurovision Song Contest 2022 took place on May 14 in Turin, Italy. The event had a television audience of 161 million viewers in 34 measured markets, and 18 million viewers also watched the contest online on YouTube and TikTok. The winner was the song Stefania, performed by Kalush Orchestra. Now the band is auctioning an NFT of the Eurovision Glass Microphone Trophy awarded it to collect donations to help Ukraine. By purchasing the NFT with cryptocurrency, the lucky owner receives: A 100% unique digital NFT file featuring a microphone and K

The government in crisis-stricken Sri Lanka has said it will print more money and cut spending on infrastructure as part of an attempt to pacify the restive population. The government, however, concedes that printing more money will likely see the inflation rate rise to 40%. Printing More Money as the Solution After defaulting on its obligations for the first time, the government in crisis-hit Sri Lanka now expects the country’s inflation rate to top 40%, Prime Minister Ranil Wickremesinghe has said. With the country now facing a steep revenue shortfall, authorities have said they intend to print money worth nearly $2.8 billion (one trillion rupees) which will be used to partly fund the government welfare programs. As per remarks published in the Business Standard, Wickremesinghe concedes that injecting one trillion rupees into circulation may lead to more hardship and further turmoil in the country. Nevertheless, the recently installed prime minister insisted the reforms being un

We’re wrapping up the last full week of May, and the NFT market is seemingly still performing strongly – considering the middling cryptocurrency market at large. Meanwhile, Solana NFTs are getting a nice boost in what the community is calling ‘Solana Summer.’ Can a rising tide lift all boats? Additionally, U.S. case law around NFTs – largely unprecedented thus far – is seeing new decisions that could have major impacts on how legal courts interpret NFT cases in the future. The Nightly Mint Latest Mint: Solana NFTs, Apparently If you’re keeping up with the hype, dominating the conversation this week has been goblintown and Trippin Ape Tribe. The latter has been an explosive project on Solana (the former being on Ethereum), and for a brief period today took the lead over Ethereum in 24-hour volume. Related Reading | Market Sentiment Dangerously Negative As Crypto Fear Index Drops To Two-Year Low Solana has been featured as the leading 'altcoin' NFT community behind NFTs, and

JPMorgan sees “significant upside” to the price of bitcoin. The global investment bank’s price target for the cryptocurrency is 28% above its current price. JPMorgan has also replaced real estate with cryptocurrencies as its “preferred alternative asset class along with hedge funds.” JPMorgan’s Bitcoin Price Target Is 28% Above Current Price Global investment bank JPMorgan published a bullish note on bitcoin and cryptocurrency Wednesday. The bank’s strategists, including Nikolaos Panigirtzoglou, wrote that their price target for bitcoin remains at $38,000, “implying significant upside for digital assets from here.” At the time of writing, bitcoin is trading at $29,784, down 2.4% over the past seven days and almost 25% over the last 30 days. JPMorgan’s fair value estimate for bitcoin is nearly 28% higher than the current price of BTC . The JPMorgan strategists detailed: The past month’s crypto market correction looks more like capitulation relative to last January/February and go

In the 2021 bull run, cryptocurrencies that played on the dog theme dominated the market. It all started on April 2nd, when Elon Musk tweeted “Dogecoin might be my fav cryptocurrency. It’s pretty cool.” In the weeks that followed, Dogecoin – cryptocurrency’s original meme – skyrocketed from a meager $0.05 to a high of $0.75 on May 7th. That means a DOGE holder who had $100 of Dogecoin on April 2nd would have had $1500 less than a month later. With the Tesla CEO incorporating DOGE into its accepted payments for merchandise sales and supercharging stations and suggesting that people who subscribe to Twitter Blue should be able to pay with Dogecoin, DOGE itself (approximately $0.08 at the time of writing) still has massive upside potential. But many feel as though they’ve missed out on the asset’s heyday. They’re looking for the next 10,000x that only comes from early adoption. These five dog-themed coins have the potential to do just that. Baby Doge ($BABYDOGE) is a deflationary token

PRESS RELEASE. The metaverse is a virtual world that allows millions of players to live beyond their immediate environment. With blockchain technology, users can create, own and utilize digital assets while interacting with other people in the virtual space. Cornucopias ‘The Island’ is a play-to-earn, build-to-earn, learn-to-earn, host-to-earn MMORPG game powered by the blockchain. In a world of unique domes, players can own land and other NFT-based assets which can be traded with other users on Cornucopias’ marketplace and many secondary market places. Cornucopias is a fun, safe and expanding metaverse with one of the most positive and engaged communities of any blockchain-based project. With the excitement of metaverse innovation sweeping the globe, there is an extremely high demand for the first Cornucopias land sale, which is expected to sell out in record time. Cornucopias NFT projects have a track record of completing successful sales with the right balance of supply and de

Ethereum failed to clear the $2,085 resistance and declined against the US Dollar. ETH must stay above $1,920 to start a fresh increase in the near term. Ethereum failed to clear the $2,085 and $2,100 resistance levels. The price is now trading below $2,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $2,000 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down towards the main $1,920 support zone. Ethereum Price Trades Below $2K Ethereum attempted to clear the $2,085 and $2,100 resistance levels. However, ETH failed to gain strength and formed a short-term top near the $2,085 level. There was a bearish reaction below the $2,050 support level. Besides, there was a break below a key bullish trend line with support near $2,000 on the hourly chart of ETH/USD. There was a move below the 50% Fib retracement level of the upward move from the $1,920 swing low to $2,085 high. Ether pr

We’ve had a brief hiatus from our Nightly Mint NFT recaps, but not to worry – we’re back on the wagon. While there’s been plenty of commotion over the past couple weeks during our quick break (yes I’m looking at you goblintown, and you, milady’s), we’re unfortunately going to skip past some of that and stick to the program: covering each day’s latest in a bite-sized report. As we kick off a closing week in May, let’s look some of Monday’s NFT activity. The Nightly Mint Latest Mint: eBay NFTs Unrolling We’ve heard for quite some time now some brief details around eBay’s interest in engaging with NFTs, but little has come to life – until now. The company’s initial release, in partnership with OneOf, has finally debuted – featuring “animated interpretations of Sports Illustrated covers of iconic athletes,” starting with hockey legend Wayne Gretzky. Related Reading | XRP Has Broken Below It’s Long Standing Support, What’s Next? Ethereum NFTs continue to be the undisputed leader, despi

Bitcoin failed again to clear the $30,600 resistance zone against the US Dollar. BTC is declining, but the bulls might remain active near $28,500. Bitcoin failed to gain strength for a move above the $30,600 resistance zone. The price is now trading below the $30,000 level and the 100 hourly simple moving average. There was break below a major bullish trend line with support near $29,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down towards the main $28,700 support zone. Bitcoin Price Tops Again Bitcoin price attempted a fresh increase from the $28,500 support zone. There was a clear move above $30,000 resistance zone and the 100 hourly simple moving average. However, the bears were again active near the $30,600 resistance zone. A high was formed near $30,630 and the price started another decline. There was a sharp reaction below the $30,000 support zone and the 100 hourly simple moving average. Bitcoin traded below the 5

The chairman of the U.S. Commodity Futures Trading Commission (CFTC) says he is certain bitcoin and ether are commodities. He outlined how his agency is working with the U.S. Securities and Exchange Commission (SEC) to regulate the crypto sector, noting that “there are no customer protections right now in the crypto market.” Bitcoin and Ether Are Commodities ‘For Sure’ CFTC Chairman Rostin Behnam discussed the regulation of cryptocurrencies by the CFTC and the SEC in an interview with CNBC last week. The chairman was asked to comment on a bill in Congress that puts the SEC in charge of security tokens and the CFTC in charge of commodity tokens. “This is a little bit of an age-old issue between the CFTC and the SEC. We have a great relationship historically … Within this space, in my view, it makes sense for commodities to be regulated by the Commodity Futures Trading Commission and securities to be regulated by the SEC,” Behnam detailed. The CFTC boss noted that within the crypto

Chinese experts have called on leaders of BRICS (Brazil, Russia, India, China and South Africa) countries to consider countering the dollar, whose global hegemony is thought to be abusive. Still, the experts concede that any attempt to diminish the dollar’s dominance will take time. BRICS Countries’ Dependence on the US-Dominated Global Financial System Chinese experts have urged BRICS countries, namely Brazil, Russia, India, China and South Africa, to counter the dollar’s global dominance which is now being abused by the United States government, a report has said. According to the experts, BRICS countries can achieve this by enhancing trade ties and limiting their reliance on a financial system in which the U.S. dollar dominates. As explained in a Global Times report , the call by the experts was made just before the foreign ministers from the five countries were scheduled to hold a virtual meeting on May 19. At the meeting, the foreign ministers were expected to discuss enhancin