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U.S. Senator Cynthia Lummis says that the recently introduced “America Competes Act of 2022” is a direct attack on the crypto industry. “I will not stand by and let the heavy hand of the government pick winners and losers,” she stressed. Congressman Tom Emmer explained that the legislation would give Treasury Secretary Janet Yellen “dictatorial-level power to prohibit any transactions they deem concerning without due process.” US Lawmakers Raise Alarm About ‘America Competes Act of 2022’ A bill called the “America Competes Act of 2022,” introduced in the House of Representatives last week, has raised much concern in the financial sector, as Bitcoin.com News reported . Among those who have warned about its detrimental effect is the pro-bitcoin U.S. Senator Cynthia Lummis. She explained in a series of tweets last week why this bill is “a direct attack” on the crypto industry. “I wanted to share a few thoughts about House Democrats’ version of the America Competes Act … which is ra

Arweave, which rose by over 44% in the last week, was once again in the green, trading over 10% higher on Monday. This comes as monero slipped in today’s session. Biggest gainers Following a bearish January, crypto markets began to rebound within the last week, with arweave being one of the biggest gainers in that period. To start the week, AR/USD is currently trading 10.32% higher, hitting an intraday peak of $39.81 in the process. This comes as the decentralized storage network rose by 44% in the last 7-days, as it continues to move towards the $40 mark. Looking at the chart below, the move began after arweave rallied from its recent support of $29.40, where it traded on Friday, leading to four consecutive sessions of gains. As a result of this run, the 14-day RSI now tracks at 50.25, which means prices are neither oversold or overbought. This sets up perfectly for a breakout beyond $40, however, with resistance at this level fairly strong, there are likely to be bears waitin

El Salvador’s president, Nayib Bukele, believes that it’s just a matter of time before bitcoin sees a “gigantic price increase.” Bukele stressed on Twitter that bitcoin is extremely scarce and there’s not enough bitcoin in the world for all today’s millionaires. Salvadoran President Says Best Time to Buy Bitcoin ‘Is When the Price Is Down’ as IMF Warns Nayib Bukele’s Government The Salvadoran bureaucrat, businessman, and the 43rd president of El Salvador, Nayib Bukele , is a big believer in the value of bitcoin (BTC) . El Salvador and Bukele’s government are well known for codifying bitcoin as legal tender in June 2021. On September 7, 2021, the price of BTC dive-bombed , so Bukele decided to buy the dip and add it to El Salvador’s growing stash of bitcoins. Bukele and El Salvador have been purchasing BTC on a regular basis during another pandemic scare, and in the midst of even more bitcoin price dips . Bukele has said that when the price of BTC is down, it’s the best time t

Despite trading lower on Monday, bitcoin is up over 10% from the same point last week, with ETH also gaining within that period. In general, crypto markets were weaker to start the new week. Bitcoin Following some strong rallies over the weekend, BTC /USD gave back some of these gains on Monday, falling to an intraday low of $36,733.57. This comes after the world’s largest cryptocurrency edged closer to the $40,000 level, by hitting $38,168.01 during Sunday’s session. The move saw its 14-day RSI climb to 38, however as on January 18th, price action was simply not strong enough to move past that point. As of now, bitcoin is tracking at 34 on this indicator, and has extended the consolidation between support of $35,470, and resistance of $39,010. Looking at the chart, you can see that the 10-day(red) moving average has begun to slow its downward trajectory, giving way for the potential upside swing. BTC /USD is currently down 2%, trading at $37,259.85, however prospects for a bu

A judge has decided to stop the deal the Argentinian Soccer Association (AFA) signed last week with Binance, one of the leading exchanges in the cryptocurrency world. María José Gigy Traynor dictated a prohibitory injunction ordering the cancellation of all deals announced or signed with Binance, due to exclusivity contracts the AFA still has with Socios.com. The contracts include the issuance of a new fan token. Argentinian Soccer Association Blocked in Binance Deal The Argentinian Soccer Association (AFA) has been ordered to stop all the deals it had completed with Binance . María José Gigy Traynor, the judge that ordered the measure against the AFA, considered that there were previously signed agreements that would be in conflict with this new contract. The sentence issued a prohibitory injunction to “preserve, while the main process is substantiated, the inalterability of a certain factual or legal situation existing prior to the conduct of one of the parties.” This means th

Following a series of record-breaking IDO’s and recent listings on two of the world’s biggest crypto exchanges Huobi Global and KuCoin, Ertha Metaverse has emerged as one of 2022’s highest trending Play-to-Earn games. According to CryptoRank , Ertha ranked 2nd in its list of the ‘Most Searched Play-to-Earn Tokens’ during a 30 day period. The project generated an incredible 52,290 page visits, a 58.2% increase on the previous 30 days, and currently holds a market cap of $21 million. This can, in part, be attributed to its strong ties with some of the industry’s top launchpads such as Seedify, GameFi, and RedKite and its Prime Listing on Huobi. A hugely successful token launch, coupled with the fact that Ertha’s NFTs are getting snapped up almost as quickly as they can be released, means that prospective players shouldn’t wait long to get involved in one of blockchain gaming’s hottest properties. Sales of Ertha’s NFTs have greatly exceeded expectations. They recently passed the

Nicolas Pouard, an executive at Ubisoft, one of the leading videogame companies in the entertainment world, has issued his take on the backlash from gamers regarding the inclusion of NFTs in traditional franchises. The VP at Ubisoft’s Strategic Innovations Lab stated that this reaction could be due to a lack of awareness of the benefits that the inclusion of non-fungible tokens (NFTs) could bring to the industry. Gamers ‘Don’t Get It’ When It Comes to NFTs An executive at Ubisoft, one of the leading traditional entertainment and videogame companies, has issued his opinion on the cold shoulder that fans and gamers have offered to NFTs. In an interview with Finder , Nicolas Pouard, who is in charge of blockchain developments at the company, stated that gamers still don’t understand the benefits that these elements might bring to them. Pouard declared: I think gamers don’t get what a digital secondary market can bring to them. For now, because of the current situation and context of

The chief marketing officer (CMO) of a cryptocurrency payments solution company, Rotimi Ogunwede, has insisted that the Central Bank of Nigeria (CBN)’s decision to bar crypto entities from the banking system may be the reason why Nigerians are now more knowledgeable about cryptocurrencies. CBN Prohibition Forced Patricia to Establish Operations Outside of Nigeria An executive with a cryptocurrency payments solution company called Patricia, has argued that cryptocurrency knowledge levels in Nigeria rose just shortly after the CBN asked financial institutions to exclude crypto entities from the banking ecosystem. The executive, Rotimi Ogunwede, insists such growth in knowledge levels, as well as the adoption of cryptocurrencies in general, shows that Nigerians are against the CBN’s tough policies. Speaking in an interview with Legit, Ogunwede, who is the crypto payments company’s CMO, admitted that the CBN’s abrupt move on February 5 had affected Patricia. The same CBN prohibition,

Stablecoins have become prominent payment rails in the world of cryptocurrencies commanding $177 billion in fiat value today. The top ten stablecoins by market capitalization represent the largest share of the value in the fiat-pegged coin economy and many of these tokens grew exponentially last year. Terra’s UST stablecoin grew the most last year, jumping 5,431% in 2021. A Deep Dive Into Stablecoin Growth During the Course of 2021 Stablecoins today represent 9.77% of the $1.8 trillion crypto-economy today which is $177 billion in USD value. While many digital assets surged in growth last year, stablecoins also saw their market valuations swell as issuance grew month after month. Tether ( USDT ) is the top stablecoin, in terms of market capitalization with $78.3 billion. USDT alone represents 4.32% of the entire crypto economy’s $1.8 trillion and amid the $177 billion stablecoin economy, USDT towers over the pack by 44.24%. On January 2, 2021, tether ( USDT ) had a market cap of

On Sunday, January 30, 2022, the top smart contract protocol tokens by market capitalization is $592 billion or 32.66% of the $1.8 trillion crypto economy. Meanwhile, the total-value locked (TVL) in decentralized finance (defi) protocols is $192.42 billion up 5.28% since January 23. Defi TVL Climbs More Than 5%, Ethereum Defi Dominance Still 60%, Cross-Chain Bridge TVL Jumps 13.5% At the end of the week, crypto asset prices have rebounded from the market carnage that took place seven days ago. During the last week, the top two leading crypto assets bitcoin ( BTC ) and ethereum ( ETH ) have gained 7% to 9% in value against the U.S. dollar. A week ago today, the TVL in defi dropped under the $200 billion mark and hit a low of $182.76 billion on January 23. Since then, the TVL has increased by 5.28% to $192.42 billion, according to Sunday’s defillama.com metrics . Curve Finance, which is available on eight different blockchain networks commands a dominance of 9% amid the $192 billion

The Canadian singer Justin Bieber has purchased a Bored Ape Yacht Club (BAYC) non-fungible token (NFT) for 500 ethereum or $1.29 million at the time of settlement. Bieber has a significant collection of NFTs and his wallet holds 340.43 ether worth $879K. Justin Bieber Spends $1.29 Million in Ethereum for BAYC #3001 Justin Bieber spent 500 ethereum worth $1.29 million at the time of settlement on a Bored Ape Yacht Club (BAYC) NFT, according to a sale stemming from the NFT marketplace Opensea. Bieber is a well known pop star with his popular seven-track EP “My World.” The 2009 album made Bieber the youngest solo male recording artist to make it into the U.S. Billboard 200 in 47 years. 13 years later, Bieber seems to be dabbling in cryptocurrencies and non-fungible token assets. Bieber’s Opensea name is called “ JustinBieberNFTS ” and the BAYC he purchased was Bored Ape Yacht Club #3001. What was interesting about Bieber’s NFT acquisition was the fact that the BAYC’s floor price was

PRESS RELEASE. Position Exchange is pleased to announce the release of its Bonds feature. Dive deeper into this game changing DeFi product. What is a Bond? A bond is a fixed-income instrument that represents a loan made by an investor to a borrower (typically corporate or governmental). A bond could be thought of as an I.O.U. between the lender and borrower that includes the details of the loan and its payments. Bonds are used by companies, municipalities, states, and sovereign governments to finance projects and operations. Owners of bonds are debt holders, or creditors, of the issuer. Bonds x Blockchain: Crypto bonds A blockchain Bond is a specific type of an automated bond contract that uses the capabilities of blockchain databases that can operate as cryptographically -secure yet open and transparent. Blockchain bonds have the ability to potentially revolutionize Financial markets by creating a decentralized database of unique digital assets. Issuers of bonds could be

Kenya’s position on cryptocurrencies is still unchanged the governor of the Central Bank of Kenya (CBK), Patrick Njoroge has said. Njoroge latest remarks come as Kenya continues to cement its position as one of the countries on the African continent that has the highest adoption of cryptocurrencies. CBK’s New Stance of Cryptocurrencies to Be Unveiled Soon The governor of the Central Bank of Kenya (CBK), Patrick Njoroge, has said Kenya’s stance on cryptocurrencies remains unchanged. Njoroge, who made the comments soon after the CBK’s monetary policy announcement, revealed however that the central bank will be talking more about cryptocurrencies in the near future. As noted in the Kenyan Wallstreet report, the governor’s reiteration of the CBK’s stance on cryptocurrencies is coming more than six months after reports emerged that Kenyan banks were issuing alerts that urged clients to desist from the practice of trading cryptocurrencies. Njoroge’s reaffirmation of the central bank’s

A roadmap on cryptocurrencies has been prepared by a number of ministries, regulatory bodies, and law enforcement agencies, Russian media reported. The document, which aims to regulate Russia’s crypto market by the end of this year, comes amid disagreements between the central bank and other government institutions about the future of decentralized digital money in Russia. Moscow Moves to Adopt Rules for Cryptocurrencies After Putin’s Call Soon after Russian President Vladimir Putin urged government officials to reach a consensus on how to regulate cryptocurrencies, Deputy Prime Minister Dmitry Chernyshenko has reportedly signed a roadmap to regulate, rather than ban, crypto operations in Russia as early as this year. The business news portal RBC broke the news, quoting a copy of the document and a source close to the working group that produced it. According to the report, the plan has been drafted by representatives of the ministries of finance, economic development and digital

Last week, non-fungible token (NFT) sales remained unscathed while crypto asset spot markets were dismal. However, a week later, NFT sales have dropped 13% to $800 million in sales over the last seven days. During the past week, NFT sales on the Ethereum blockchain have slipped 11.78% but Ronin blockchain-based NFT sales (Axie Infinity) dropped 47.83%. Weekly NFT Sales Slide Lower, Axie Infinity’s Ronin Sales Shed More Than 47% Statistics over the last seven days show that NFT sales are down across the 12 blockchains that produce NFTs. Cryptoslam.io shows that weekly NFT sales dipped 13% and the leading blockchain network Ethereum’s NFT sales slipped 11.78%. The second-leading blockchain in terms of NFT sales, Solana, saw its sales decrease by 16.87% during the last seven days. The third-largest blockchain network for NFT sales, Ronin, shed 47.83% this week and Flow blockchain NFT sales increased by 10.18%. 24-hour NFT marketplace metrics from dappradar.com indicate that the NFT

In mid-May 2021, the American multinational technology company Nvidia Corporation revealed that it added a hashrate limiter to curb the use of cryptocurrency mining with its graphics processing units (GPUs). However, crypto miners now say the move was pointless, and the mining organization Nicehash details that the hashrate limiter scheme introduced by Nvidia “did not discourage miners at all.” Nvidia’s Hashrate Limiter Didn’t Stop Crypto Miners From Using the Products Last year Bitcoin.com News reported on Nvidia’s “Lite Hash Rate” (LHR) technology, when the graphics cards manufacturer attempted to stop crypto miners from leveraging its GPUs to mine digital assets. Nvidia applied LHR to three specific GPU products, and the company said the motivation was to get its card back into the hands of gamers. Eight months later, reports say that the LHR tech did very little to stop crypto miners from utilizing these specific Nvidia devices. The cryptocurrency mining Platform Nicehash told

Flow is trading almost 30% higher on Saturday, as the majority of the crypto top 100 are in the green. Today’s move sees flow also enter the top 50 cryptocurrencies by market cap. Biggest Gainers Following a bearish end to the working week, cryptocurrency markets are green across the board to start the weekend. Notable gainers included solana, which is up over 10%, whilst SAND is also trading higher, and is up almost 15% as of writing. However, the clear bull of the day is FLOW, which as of writing is up around 23%, hitting an intraday high of $6.62 in the process. The move began after FLOW/USD rallied from recent support of $4.50, where it last traded on Thursday, to now hitting an intraday high of $6.62 two days later. Saturday’s surge saw flow move past aave, to become the #50 ranked cryptocurrency across the globe, by market cap. Looking at the chart, the RSI is tracking at 47, which is around its strongest point this year, whilst prices look to be at resistance of $6.48.

Following two consecutive days of losses, bitcoin and ethereum both rebounded strongly to start the weekend. Crypto markets were trading close to 5% higher on Saturday. Bitcoin The world’s largest cryptocurrency regained some upward momentum on Saturday, as bitcoin bulls appeared to have re-entered the race. BTC /USD rose to an intraday high of $37,952.88 on Saturday, following a low of $36,211.11 earlier in the session. Today’s rally comes as bitcoin appears to have broken above the key RSI level of 30, and now tracks north of 35 on the indicator. Despite remaining oversold, the breakout invigorated traders who were hoping to take BTC /USD to the $40,000 resistance level. Overall and long-term, the BTC /USD chart is still positioned within a descending triangle. However, the recent shorter-term ascending run has created a slight bottleneck in price. This, along with the potential for the RSI to rise to its next resistance point 41, may be enough to send price to, and potential

According to the chief executive officer (CEO) of the United Arab Emirates-based financial institution, Bank of Sharjah, blockchain and cryptocurrencies are not only difficult to regulate but are also here to stay. Despite this prediction, the CEO admits that many in the banking industry still do not fully understand this technology. A Revolutionary Technology The CEO of Bank of Sharjah, Varouj Nerguizian, has said the blockchain and cryptocurrencies are not going away but are likely to become a significant part of the banking system. Nerguizian, however, said banks can only fully benefit from technology when they deploy non-public or enterprise blockchains. In comments made during an interview with Emirates News, the CEO also explained how the blockchain can potentially be a double-edged sword to financial institutions that are attempting to adapt to the post-pandemic landscape. He said: Blockchain is a revolutionary technology that is not yet fully understood by the banking in

Nansen, a cryptocurrency and blockchain statistics and analytics platform, has issued a report on the growth of decentralized finance (defi) in 2021. The document highlights how defi managed to keep growing, opening the field to new participant chains. Non-fungible tokens (NFTs) also had a notable year, with many new wallets experiencing growth as a result. Nansen Puts 2021 in Review Nansen, a blockchain analytics firm backed by Coinbase Ventures and a16z, has presented a report about the behavior and growth that decentralized finance and NFTs experienced in the last year. The document, titled “Nansen’s State of The Crypto Industry Report 2021,” highlights how defi growth accelerated and NFTs rose as an important part of the crypto industry, as well as other industries — even attracting celebrities. Regarding defi, Nansen estimates the growth of the market compared to 2020 was 1,120% in TVL. While ethereum finished the year with 70% dominance in the defi sector, the crypto’s inab

Terra (Luna) was one of this week’s biggest crypto losers, falling by as much as 20% during Friday’s session. Declines in terra came as cosmos ( ATOM ) also had a double-digit decline. Biggest gainers Although crypto markets were mainly trading in the red, symbol (XYM) was one of the rare exceptions to climb higher today. XYM rose to an intraday high of $0.1728 during Friday’s session, rising from an earlier low of $0.155. This move started when the symbol surged from its support at $0.146, an area where it has been trading around for the majority of the week. As of writing, XYM was trading over 7% higher, with price action continuing to gain strength, after a recent breakout from a key RSI resistance point. The 14-day RSI indicator is currently tracking at 44, following its surge from the 35 level, which was a historical point of price uncertainty. Traders will likely now wait to see if symbol could reach resistance of $0.189. Biggest losers Another day, and cosmos (ATOM)

Findings stemming from a recent report published by the security-focused blockchain firm Certik indicate that the Binance smart chain Ethereum bridge called Qubit has been hacked for $80 million. Data shows on January 27, 2022, an attacker siphoned a number of tokens from an exploit on Qubit Finance’s bridge and Certik says the hack is “by far the largest exploit of 2022 to date.” Qubit’s Binance Smart Chain Ethereum Cross-Chain Bridge Attacked for $80 Million in Defi Tokens A decentralized finance (defi) exploit tied to Qubit Finance ’s Binance smart chain Ethereum bridge has led to the loss of $80 million, according to the blockchain security experts at Certik . Qubit Finance is a defi protocol that offers lending capabilities and a cross-chain bridge between BSC and ETH . Unfortunately looks like @QubitFin from the team at @PancakeBunnyFin has been exploited for over $80m in assets. Exploiter's address: https://t.co/s2WDCCiLho — Stefan (🦎,🦎) (@0xCryptoStefan) Janu

Following a volatile week of trading, the uncertainty in cryptocurrency markets continued on Friday. Overall, the global crypto market cap was almost 2% lower during the session. Bitcoin Thursday’s volatility extended into today’s session, with bitcoin prices continuing to consolidate near its recent support level of $35,600.00. BTC /USD fell to an intraday low of $35,629.28 on Friday, following a high of $37,423.99 earlier in the session. The move comes as bitcoin appears to be trading within a range of support ($35,600.00) and resistance ($38,510.00), in other words consolidating, after recent swings in price. Typically, when we see a trending market, bullish or bearish, prices begin to move with uncertainty when early entrants exit, and take profits, whilst later entrants look to capitalize on the recent trend, by longing or shorting. When this happens, prices tend to trade sideways, as markets have no clear direction, which seems to be the case with BTC this week. Friday’s

The CEO of cryptocurrency exchange Cryptsy has been indicted in the U.S. The 17-count indictment charges the crypto exchange executive with “tax evasion, wire fraud, money laundering, computer fraud, tampering with records, documents, and other objects, and destruction of records in a federal investigation,” the DOJ said. Cryptsy’s CEO Faces 17-Count Indictment The U.S. Department of Justice (DOJ) announced Wednesday that Paul E. Vernon, the founder, operator, and chief executive officer (CEO) of Project Investors Inc., doing business as Cryptsy, has been indicted. A 17-count indictment was unsealed charging Vernon, 48, “with criminal violations for his involvement in a sophisticated theft scheme involving his cryptocurrency exchange,” the announcement details, adding: The charges include tax evasion, wire fraud, money laundering, computer fraud, tampering with records, documents, and other objects, and destruction of records in a federal investigation. According to the indictm

CoinFLEX, a leading derivatives exchange and yield platform, has announced the second iteration of their innovative AMM+ ( A utomated M arket M aker) platform — making the yield-earning product more accessible to everyday investors. AMM+: Leveling up the AMM model on a CeFi platform AMM+ Statistics The revamped AMM+ page now offers users a statistical summary they can easily reference to access relevant information when selecting a market pair. This includes key figures such as average TVL (total value locked), volume, and APR across both 24-hour and 7-day time periods. Tips and Guidance AMM+ emphasizes an educational user experience, equipping users with the necessary skills and tools to navigate around both the product and relevant markets. The ‘Tips and Guidance’ toggle is turned on by default to provide users with simple explanations for different AMM+ features. Setting Your Price Range The live price chart offers users the ability to set their price range while directly r