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In the wake of Binance’s departure from Canada, cryptocurrency exchange Bybit has announced its exit from the nation as well, citing “recent regulatory development” as the reason. Effective May 31, Bybit stated that it would cease accepting applications from Canadian residents. Bybit to Pause Operations in Canada According to a Tuesday announcement , Bybit is withdrawing from Canada and has suspended new registrations from Canadian residents as of Wednesday. Starting July 31, Canadians will be unable to deposit funds; however, they can still withdraw and reduce their trading positions for the time being. “Canadian Customers who are implicated by these measures should take steps by September 30, 2023, 8AM UTC to wind down and manage their positions,” Bybit said. “Failing which, open positions in any margin products and derivative contracts — will be liquidated and the liquidated funds will be available for withdrawal.” While Bybit explained it has always prioritized compliance, it ...

Multiple reports have revealed that Binance, the crypto exchange with the highest trade volume, has announced the removal of 12 privacy-focused cryptocurrencies from its markets in Spain, France, Poland, and Italy. Commencing on June 26, 2023, users residing in these four countries will no longer have the option to purchase or trade these privacy coins on Binance’s trading platform. Binance to Delist 12 Privacy Coins in Spain, France, Poland and Italy Binance has recently informed its customers in France, Spain, Italy, and Poland via email that it intends to remove 12 distinct privacy coins from these markets. Among the privacy coins set to be delisted are dash ( DASH ), verge (XVG), beam (BEAM), monero ( XMR ), navcoin (NAV), firo (FIRO), horizen (ZEN), secret (SCRT), zcash (ZEC), pivx (PIVX), decred (DCR), and mobilecoin (MOB). “Due to local regulatory requirements, Binance is no longer able to offer privacy-enhanced cryptocurrencies in France,” an email to French customers deta...

Shiba inu moved closer to a six-month low on Wednesday, as sentiment in cryptocurrency markets shifted bearish. Litecoin was another notable token to fall, slipping by over 4% today. The global market cap is currently down by over 2% at the time of writing. Shiba Inu (SHIB) Shiba inu (SHIB) fell below a key support point earlier in today’s session, moving closer to a six-month low as a result. Following a high of $0.000008784 on Tuesday, SHIB/USD dropped to a intraday low of $0.000008398 earlier in the day. This drop resulted in the meme coin falling below a key support point of $0.000008500, approaching its lowest point since January 8. From the chart, it appears that the latest decline comes as the 14-day relative strength index (RSI) moved towards a floor at 32.00. At the time of writing, the index is tracking at 33.76, following a failed breakout of a ceiling at 44.00. Should price strength fall to the aforementioned support point, there is a good chance SHIB will hit a new...

Three months have passed since Paxos made the decision to cease the production of new BUSD tokens, complying with the directive issued by the New York Department of Financial Services (NYDFS). Since February 13, 2023, 10.62 billion BUSD tokens have been redeemed thus far. Within the span of the last 30 days, slightly more than one billion BUSD stablecoins have been withdrawn from circulation. BUSD Redemptions Exceed 10 Billion Tokens Since NYDFS Announcement Despite tether ( USDT ) approaching its all-time high in terms of market capitalization, the stablecoin economy is currently experiencing its lowest value range since September 2021. A decent-sized fraction of the stablecoin economy’s decline can be attributed to the redemption of BUSD tokens. Three months ago, or 107 days to be precise, Paxos made an announcement in compliance with the directives from the NYDFS, stating that they would cease the production of BUSD tokens. According to archived data from that day, approximat...

Bitcoin erased recent gains on Wednesday, as markets reacted to the latest points of U.S. economic data. One of which being consumer confidence, which dropped to a six-month low in May. Ethereum was also lower in today’s session, dropping below $1,900. Bitcoin Bitcoin ( BTC ) neared a breakout below $27,000 on Wednesday, as markets reacted to the latest data surrounding consumer confidence in the United States. Following a high of $28,037.69 on Tuesday, BTC /USD slipped to an intraday low of $27,009.69 earlier in the day. The downturn comes as momentum in the market has slightly shifted, with the global crypto market cap falling by 2.59% as of writing. Bitcoin chart by TradingView Overall, today’s decline in BTC comes despite an upcoming crossover between the 10-day (red) and 25-day (blue) moving averages. From the chart, it appears that a failed breakout of a ceiling at 53.00 on the relative strength index (RSI) played a significant role in this. The index is now trac...

What is wrong with the current P2E market Since most P2E projects do not create long-playing products, the Free-to-Play model of the past decade is breaking down, threatening to disrupt a $100B+ industry. The main lessons learned before 2023 are: NFTs were misused for trading and farming, not for gaming, Pay-to-play model anyway to engage in a full-featured game, Low quality graphics and lack of unique generated content, Farming and breeding decrease economy in a long run, Complex onboarding of Web2 gamers. Here’s where Junkineering comes into play, with the goal to improve the model, align incentives between developers and players in a virtuous cycle, as well as deliver a quality product, engaging and Fun-to-Play. The approach they offer is as follows: Game design based on the NFT Utility, Fair free-to-play and Digital Ownership, User Generated Content, No breeding, no farming mechanics, Familiar experience for Web2 audience. What is Junkineering Junkineering is a ...

After announcing its plan to invest 15% of profits into bitcoin, the company Tether Limited has taken another step toward its crypto goals. Tether, the stablecoin issuer, has revealed its latest venture: “sustainable bitcoin mining operations in Uruguay.” Tether has partnered with a licensed local company to make this happen, as it believes Uruguay is the ideal location for bitcoin mining production. Tether’s Bitcoin Mining Operations Take Root in Uruguay Tether, the issuer of the largest stablecoin in terms of market capitalization, said it is gearing up to invest in energy production resources and establish sustainable bitcoin ( BTC ) mining operations in Uruguay. Paolo Ardoino, the CTO of Tether, elaborated on their vision, expressing that the team behind energy production and bitcoin mining is actively seeking talented individuals to join their venture. In a recent blog post , Tether revealed that it has partnered with a local company in Uruguay to kickstart these operations. ...

Customers of Binance Australia were trading bitcoin and other cryptocurrencies at lower prices than those on other platforms on Tuesday. The discount is apparently due to a popular Australian payment service preparing to cut off the crypto exchange from withdrawals in local currency. Bitcoin Trading at Lower Rates on Binance Australia Australians traded bitcoin ( BTC ) and other cryptocurrencies at discount on Binance Australia compared to other exchanges operating in the country on Tuesday. The price difference has been attributed to a popular domestic payment provider’s decision to quit processing withdrawals in Australian dollars (AUD) for its users. Starting from June 1, customers of Binance’s Australian platform will not be able to withdraw amounts in the national fiat to their bank accounts through the Payid service. The exchange’s announcement came after earlier this month it informed traders that they will not be able to deposit or withdraw AUD through another Australian pa...

XRP rallied to a six-week high in today’s session, as the token extended a recent bull run to a sixth day. Prices have risen by as much as 10% in that period, with the latest surge sending the cryptocurrency above $0.50. Solana was also higher, hitting a multi-week high of its own. XRP XRP , formerly known as ripple, was one of the biggest movers in cryptocurrency markets on Tuesday, as it rose above $0.50. XRP /USD raced to a peak of $0.5049 earlier in today’s session, after starting the week trading at a low of $0.4779. As a result of this surge, the token moved to its strongest point since April 19, when it hit a high of $0.5390. Today’s rally has also led to the 14-day relative strength index (RSI) hitting its highest reading since March 31. At the time of writing, the index is tracking at 67.55, which is marginally below a ceiling of 68.00. In the event this upcoming ceiling is broken, there is a reasonable chance that XRP moves closer to March’s high. Solana (SOL) Sol...

On Monday, May 28, 2023, a pivotal landmark was reached as the aggregate quantity of Ordinal inscriptions minted on the Bitcoin blockchain exceeded 10 million in under half a year. Since Ordinal inscriptions’ inception, bitcoin miners have garnered roughly 1,596 bitcoins, valued at $44.37 million. 10 Million Ordinal Inscriptions and Counting This week witnessed the total Ordinal inscriptions surpassing the 10 million mark; as of this writing, 10,142,233 inscriptions have been issued. Moreover, the BRC20 token economy consisting of 24,677 registered BRC20 tokens boasts a combined value of $433 million . Bitcoin inscriptions have carved out a niche in the realm of non-fungible token (NFT) markets and currently stand as the second-largest blockchain in terms of NFT sales. Data from the past 30 days reveals that $190 million worth of Bitcoin-based NFTs have been traded, with the most significant sale being a Space Pepe sold for $4.56 million. Having amassed over 10 million inscripti...

Bitcoin was once again trading above $28,000 on Tuesday, as the 10-day and 25-day moving averages neared a death cross. The two trend lines have moved closer to one another, with an upwards bullish crossover somewhat imminent. Ethereum was also marginally higher today. Bitcoin Bitcoin ( BTC ) jumped back above $28,000 on Tuesday, with a possible death cross signaling upcoming bullish momentum. BTC /USD hit a peak of $28,044.76 today, following a low at $27,563.88 earlier in the session. Today’s move led to bitcoin remaining close to a three-week high at $28,473, which was marginally below a ceiling at $28,500. Looking at the chart, Tuesday’s rebound comes as the relative strength index (RSI) remained above a floor at 53.00 At the time of writing, the index is now tracking at 54.29, with a ceiling of 57.00 still a possible target for current bulls. As the session has progressed, earlier gains have somewhat slipped, as market uncertainty remains high. Ethereum Ethereum ( ETH ) ...

The government of Bali, Indonesia, is cracking down on the use of cryptocurrency as a means of payment by foreign tourists. “Strict actions range from deportation, administrative sanctions, criminal penalties, closure of business premises, and other tough sanctions,” said the governor of Bali. Strict Penalties Imposed for Foreign Tourists Using Crypto in Bali, Warns Governor The Bali provincial government is cracking down on the use of cryptocurrency as a means of payment by foreign tourists in hotels, restaurants, shopping centers, and various other establishments, according to a report from the Antara Indonesian News Agency. Bali Governor Wayan Koster said at the Bali tourism development press conference Sunday: Foreign tourists who behave inappropriately, do activities that are not allowed in their visa permit, use crypto as a means of payment, and violate other provisions will be dealt with firmly. “Strict actions range from deportation, administrative sanctions, criminal p...

Litecoin rose for a sixth consecutive session to start the week, as bullish sentiment returned to cryptocurrency markets. As of writing, the global market cap is up by as much as 2.50%. BNB was also in the green, hitting a 20-day high on Monday. Litecoin ( LTC ) Litecoin ( LTC ) was a notable mover on Monday, as the token climbed for a sixth consecutive session. LTC /USD raced to a peak of $92.16 earlier in the day, which comes less than 24 hours after trading at a low of $89.10. This move has led to litecoin climbing to a key resistance level of $93.00, which was last hit on May 23. From the chart, the recent rise seems to be a result of the relative strength index (RSI) breaking out of a ceiling at 51.00. The index has since rallied further, hitting a resistance point at 57.00, which has resulted in earlier gains fading. At the time of writing, LTC is trading at $91.38, with price strength at a reading of 56.05. BNB BNB , or binance coin, was also in the green to start th...

The blockchain of the petro, the Venezuelan official cryptocurrency asset, has been facing difficulties, halting on May 24, with block production restarting on May 27 only to stop again on May 28. Asonacrip, a local cryptocurrency association, also reported that hundreds of petro wallets were eliminated or blocked. Venezuelan Petro Blockchain Halted The blockchain of the petro, the official Venezuelan cryptocurrency, has allegedly been facing operational problems since last week. Asonacrip, a private association of crypto enthusiasts, issued a statement warning about the issue, stating that the Petro chain had stopped its block generation on May 24, affecting the functionality of the cryptocurrency asset. In a joint statement with Cryptoland.vzla, a crypto education-focused group, Asonacrip stated : Last Wednesday (May 24) at 07:00 in the morning, suddenly and without warning, the Petro Blockchain was paralyzed, making transactions between different wallets impossible. However,...

Bitcoin climbed above the $28,000 level on Monday, as U.S. President Joe Biden confirmed that a deal was agreed in principle. Biden labeled the agreement a “compromise,” with Republican Kevin McCarthy calling it “historic.” Ethereum was also higher on the news, hitting a three-week peak. Bitcoin Bitcoin ( BTC ) rose above the $28,000 to start the week, as crypto markets reacted to an apparent agreement to increase the U.S. debt ceiling. Following a low of $27,125.53 on Sunday, BTC /USD raced to a peak of $28,432.04 earlier in today’s session. As a result of today’s rally, bitcoin moved to its highest point since May 8, when price reached a high of $28,676. Bitcoin chart by TradingView Overall, it appears that the latest move took place once the relative strength index (RSI) broke out of a ceiling at 53.00. Price strength has since climbed, and the index is currently tracking at 54.92, with the next point of resistance at 57.00. Should this momentum continue to increase...

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic development news during the last week. In this issue, Venezuela tries to regain control of the gold stash held in London again; Argentina seeks to expand the Chinese yuan swap line; and Azteco enables bitcoin purchases in more than 55,000 stores in Colombia and Costa Rica. Venezuela Appeals to Regain Control of Gold Held in England The Venezuelan government has introduced a new appeal to try and regain control of the Venezuelan gold held in the vaults of the Bank of England. According to the appeal presented before the London Court of Appeals by the party representing the Central Bank of Venezuela board controlled by President Nicolas Maduro, the disbandment of the interim government of Juan Guaido on January 2022 changes the case’s background. The board named by the Venezuelan assembly, elected back in 2015 to protect the country’s foreign assets, has no official recognition from the U.K...

  In the cryptocurrency realm, there are thousands of projects born every year – each with aspirations to set the bar higher. The harsh reality is that most fail somewhere along the way, not for lack of passion or trying, but rather they lack the full list of ingredients required to create something truly great. So what exactly are those ingredients? The truth is – no one determines this except the investors or the user base – So then the real question becomes, what do investors want to see, and what value can a project bring to users in the space? One project, SquidGrow , co-founded by notorious crypto billionaire – Shibtoshi , and renowned trader – AreDub , looks to have discovered these answers through the heart of the bear market. So let’s dive in, what is SquidGrow doing so well where others are struggling? For starters, investors want to see other investors joining them for a common goal. If the sectors where investors communicate and share their thoughts about a pr...