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Ethereum gained pace above the $2,550 resistance zone against the US Dollar. ETH price is trading in a positive zone and it could rally if it breaks the $2,750 resistance. Ethereum is slowly moving higher and it broke the key $2,500 resistance zone. The price is now trading well above $2,500 and the 100 hourly simple moving average. There is a key rising channel forming with support near $2,640 on the hourly chart of ETH/USD (data feed via Kraken). The pair could accelerate higher if it breaks the main $2,750 resistance zone in the near term. Ethereum Price Is Gaining Momentum Ethereum started a decent upward move from the $2,400 support zone . ETH climbed above the $2,480 and $2,500 resistance levels. There was also a clear break above the $2,650 resistance zone. A high was formed near $2,746 before the price started a downside correction. There was a break below the $2,700 and $2,650 levels. Ether declined below the 23.6% Fib retracement level of the upward move from the $2,

Miami is expanding as a crypto hub by hosting this year’s Bitcoin 2021 event. The Bitcoin 2021 conference in Miami has been touted as the largest Bitcoin event in crypto history, with organizers expecting a huge turnout. The event, running for three days from June 3 at the Mana Convention Center in Miami’s Wynwood neighborhood, will play host to a number of industry executives and personalities. Crypto luminaries schedled for attendance include former congressman Ron Paul , MicroStrategy CEO Michael Saylor, pro-crypto Wyoming Senator Cynthia Lummis, Square co-founder Jack Dorsey, and cryptographer Nick Szabo, among others. The organizers are expecting more than 50,000 attendees, according to a Fox Business report . Miami has emerged as a major tech hub in recent years, with the Wynwood neighborhood, in particular, evolving into a hub for technology and innovation. The crypto conference was previously held in Los Angeles but organizers decided to move it due to venue availability

A new DeFi yield farming platform in Thailand has rattled regulators. In their latest effort to regulate the cryptocurrency industry, Thailand’s financial regulators have turned their sights towards decentralized finance, or DeFi. According to a June 1 report from Bangkok Post , Thailand’s Securities and Exchange Commission (SEC) has announced that any activities related to DeFi may require a license from the financial regulator in the near future. The SEC specifically stated it will target DeFi protocols that issue tokens. The latest regulatory push comes after the launch of the native token for Thai DeFi protocol, Tuktuk Finance, on the smart contract platform operated by popular local crypto exchange Bitkub on Sunday. The report noted that prices had skyrocketed to “several hundred dollars” before collapsing to $1 within just a few minutes. According to the platform’s official website, the protocol has attracted a total value locked, or TVL, of $18 million, with the TUK token

Institutional or accredited investors signed up to the DBS Digital Exchange will be able to access secondary markets for DBS’s digital bond. Singapore-based multinational banking corporation, DBS Bank, has launched its first-ever security token offering, or STO, by issuing a digital bond. The DBS digital bond has been priced at $11.35 million and comes with a six-month tenor and coupon rate of 0.60% annually. The offering was carried out through a private placement hosted by DBS Digital Exchange, or DDEx, marking DDEx’s first STO. To encourage investor engagement, the bond is set to be traded in board lots of 10,000 Singapore dollars (roughly $7,560) — a dramatic reduction compared to the 250,000 Singapore dollar board lots that traditional wholesale bonds are traded in. The digital bonds will be available for secondary trading to clients of DDEx who are accredited or institutional investors. DBS hopes its offering will pave the way for other issuers to launch security token off

Bitcoin price started a steady increase above the $36,000 resistance against the US Dollar. BTC even broke $37,000 and it is now showing positive signs. Bitcoin gained bullish momentum above the $35,000 and $36,000 resistance levels. The price is currently trading well above $36,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $36,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct lower, but the bulls are likely to remain active near $36,000. Bitcoin Price Gains Pace Bitcoin formed a base above the $34,000 zone and it started a steady increase. BTC broke the $35,000 and $36,000 resistance levels to move into a positive zone. There was a break above a major bearish trend line with resistance near $36,000 on the hourly chart of the BTC/USD pair. The pair climbed above the 50% Fib retracement level of the key decline from the $40,420 swing high to $33,630 low. The price

Players can now earn xDAI by broadcasting planet locations in the space strategy game. Players of the decentralized real-time strategy game, Dark Forest, have introduced new and innovative ways of earning cryptocurrency within the virtual ecosystem. The play-to-earn plugin “Broadcast Market” was integrated into the game on May 31, according to a tweet by programmer Blaine Bublitz. The developer noted that Broadcast Market is the first plug-in featuring its own smart contract that directly communicates to Dark Forest. This is the first plugin that has its own smart contract that talks directly to Dark Forest. It allows you to broadcast a planet to receive a reward or, if you are in need of extra broadcasts, you can post a bounty to the board! — Blaine Bublitz (@BlaineBublitz) May 31, 2021 Bublitz added that he and collaborator Jacob Rosental, "Project Sophon," intend to develop additional plug-ins for the game in future, thanking Dark Forest for supporting their work

BitMEX has collaborated with a non-profit Human Rights Foundation to provide a $150,000 grant to Korean-based Bitcoin scaling researcher, Calvin Kim. Popular crypto derivatives exchange BitMEX has announced a $150,000 grant for Calvin Kim — a Korean-based Bitcoin scaling researcher. The grant comprises the second instance in which BitMEX has backed Kim’s research, with the exchange donating $30,000 to Kim in August 2020. For his current research, Kim plans to implement Utreexo into Bitcoin deployments using the Go and Rust programming languages respectively, while also working on “improving the initial block download time in Bitcoin.” Utreexo is a Bitcoin scaling solution and hash accumulator that Kim has been working on since mid-2019, with the protocol's design having first been proposed by MIT Digital Currency Initiative researcher Thaddeus Dryja — who also co-authored the Lightning Network whitepaper. The new grant was issued by BitMEX in collaboration with the non-pro

In an effort to attract users, Binance is casting a wide net to bring in artists, celebrities, and athletes. In an increasingly crowded marketplace for marketplaces, Binance is going on the offensive with a business development push aimed at bringing “100 Creators” to their forthcoming NFT platform.  In a press release today, Binance announced a drop from Misha Most, a noted street artist who currently holds the world record for the largest wall mural. Most will be making 10 NFTs made in collaboration with other artists, and the pieces will be available for sale in the first week of launch of the marketplace, currently scheduled for June 24th. “Digital art is imbued with the spirit of the community, as a street artist, it's very close to me, and I'm used to working in a team with other creators,” said Most in the press release. “Working on NFT is a unique opportunity for me to collaborate with digital artists. For me, the transformation of familiar works into digital art is

Bitcoin and altcoins are attempting to start a relief rally, suggesting traders have decided to start buying at lower levels. Bitcoin’s ( BTC ) massive drop in May 2021 is among its worst monthly performances, according to data from Bybt. The decline has divided the crypto community, with long-term investors considering the fall as a buying opportunity while short-term traders are dumping their positions out of fear. Glassnode data suggests that long-term HODLers and miners are using the current weakness to accumulate Bitcoin. This transfer of Bitcoin from weaker hands to stronger hands is a positive sign because long-term investors are unlikely to panic and dump their holdings on every bear market correction. Daily cryptocurrency market performance. Source: Coin360 In April, the U.S. personal consumption expenditures price index soared by 3.1% compared to a year ago, the biggest increase over 12 months since July 1992. This indicates that inflation is knocking on the doors.

Institutional miners and hobbyists alike are taking advantage of energy subsidies to cash in. While the broader crypto market suffers through a painful slump, a new report today indicates that Bitcoin miners in Argentina are thriving as they take advantage of convoluted energy policies.  A report from Bloomberg republished in the Buenos Aires Times says that residential mining is picking up due to a mix of factors, including currency controls, energy subsidies, and rampant inflation. The favorable mix of conditions has even brought in international attention as Canadian mining company Bitfarms Ltd. looks to set up what will reportedly be the largest mining operation in South America — part of a flourishing crypto business scene throughout the country . Earlier in the year, Bitfarms estimated that the new facility could mine BTC at a cost of just over $4,000 per coin . "Although the price of bitcoin is at its lowest level in the last few months, mining BTC in Argentina is sti

Bitcoin price was slashed in half during the month of May, leaving today as the last day for bulls to make a stand and undo the worst monthly on record. Even if the blood stain is left behind on the price chart for good, that doesn’t mean bulls still can’t pull off an upset and push prices higher. Here are five signs that Bitcoin price has bottomed out, or will be soon. The Signals Showing The Bitcoin Bottom Is Near Just as extreme bullish sentiment and exuberance around mid-April was the local top of the 2021 rally so far, the current level could also act as the bottom now that sentiment has shift to the polar opposite. A hidden bull div has formed on daily support | Source: BTCUSD on TradingView.com Contrarian investors and traders suggest buying the fear or blood in the streets, but that’s still not the reason to think the bottom is in. Related Reading | Building The Case That The Bitcoin Bottom Is In Rather, technicals on nearly all timeframes point to a reversal in the

Polygon’s decentralized finance footprint continues to grow, with 0x releasing a version of its decentralized exchange liquidity aggregator API on the “Ethereum scaler.” 0x has released a Polygon version API for its decentralized exchange (DEX) liquidity aggregator, opening up the 0x API tool to the expanding Polygon market. The DEX liquidity bridge service announced the move via a release issued on Monday, marking another milestone for the burgeoning decentralized finance (DeFi) scene on Polygon. According to the announcement, the 0x API on Polygon features major Ethereum-based DEX liquidity channels like SushiSwap, Dfyn and Curve, as well as Dodo, mStable, QuickSwap and Cometh. Detailing the ease of using the 0x API on Polygon, the announcement reads: “Developers are able to access the open source 0x API and accompanying documentation to start building on Polygon instantly. The API has been designed to make it easy for DeFi devs to tap into DEX liquidity in a fast, reliable, an

Banks like HDFC and the State Bank of India reportedly cautioned customers against crypto, citing the RBI’s quashed crypto circular. India’s central bank has issued an official notice regarding the fact that local banks are reportedly cautioning customers against using cryptocurrencies like Bitcoin ( BTC ). Published Monday, the notice points out that the Reserve Bank of India is aware of media reports that certain banks have cautioned their customers against crypto by referring to the RBI’s quashed, three-year-old circular . “Such references to the above circular by banks/ regulated entities are not in order as this circular was set aside by the Hon’ble Supreme Court on March 4, 2020 in the matter of Writ Petition,” the notice reads, emphasizing that the circular is no longer valid and cannot be cited. However, banks and other regulated financial institutions can still carry out customer due diligence processes related to Anti-Money Laundering and Know Your Customer standards un

Those with skin in the game are reiterating that comparing Bitcoin to Ethereum is a pointless and potentially costly exercise. Bitcoin ( BTC ) is at risk of a “flippening” from Ether ( ETH ), mainstream media claims as some familiar FUD — fear, uncertainty and doubt —returns to the spotlight. As BTC/USD continues to flag below $40,000, an old argument has resurfaced — but major investors are fighting back. Bloomberg: ETH "will likely exceed Bitcoin" In an article on May 31, Bloomberg cited multiple sources claiming that in the future, Ether will overtake Bitcoin as the world’s cryptocurrency of choice. The largest altcoin “will likely exceed Bitcoin at some point in the future, as Ethereum will be superior when it comes to innovation and developer interest,” Tegan Kline, co-founder of Blockchain firm Edge & Node, told the publication. Another executive added that Ethereum has a “better growth story.” The argument is far from new  and has appeared regularly throug

The warning comes in response to Bybit’s marketing campaign that reportedly targeted Japanese investors. Singapore-based Bybit, the world’s fifth-largest cryptocurrency derivatives exchange by trading volume, has allegedly been running unregistered crypto services in Japan, according to an official warning. The Japan Financial Services Agency issued  a formal warning letter to Bybit stating that the firm is not registered to operate crypto services in the country. The warning comes in response to Bybit’s marketing campaign that reportedly targeted Japanese investors, according to Norbert Gehrke, founder and representative director of tech hub Tokyo FinTech. “Such public reprimand for running an unregistered business has not occurred for a while, so one is to assume that the FSA has witnessed aggressive marketing by Bybit to Japanese investors that goes beyond the common transgressions of presenting their website in Japanese and not blocking Japanese IP addresses,” Gehrke wrote i

AI and blockchain are rarely utilized together — but combining these technologies could unlock a plethora of use cases. Artificial intelligence and blockchain are both touted as technologies that will lead our future. But here’s the problem: They’re like oil and water. While innovative in their own right, there’s a noticeable lack of interconnectedness — projects that tightly combine AI and blockchain, unleashing the full potential of both emerging technologies.  Technical hurdles have been largely to blame for this. Integrating AI into the smart contracts that exist today is practically impossible. The two often rely on entirely different programming paradigms — and while smart contracts use data sparingly to reduce transaction fees, many AI models process vast amounts of data as well as a large amount of computing resources to make decisions. Smart contracts are also incredibly strict, meaning that an outcome can only be achieved when a range of strict parameters are met. As a r

Long-term Bitcoin holders remain unfazed by the recent sell-off, but there is still one alarming sign. A recent run-down in Bitcoin’s ( BTC ) price from about $65,000 to as low as $30,000 did not force long-term holders into selling, Glassnode data shows. The on-chain analytics platform revealed a spike in Bitcoin reserves held in wallets with lower unspent output just as BTC/USD’s bids were crashing. Meanwhile, the data also shows a Bitcoin collecting spree among miners — the entities that produce and supply newly minted cryptocurrencies for retail markets. As a result, the active BTC supply started declining in recent sessions. New Bitcoin supply squeezed-in by miners and long-term holders. Source: Glassnode Short-term Bitcoin holders — the entities that hold the flagship cryptocurrency for less than a week after accumulating it — were the biggest sellers during the BTC/USD rate decline. Glassnode data suggested that newer market entrants panic-sold BTC during the May downtu

Ripple CEO Brad Garlinghouse says that the San Francisco-based payments startup intends to go public once its legal battle with the U.S. Securities and Exchange Commission (SEC) is settled. XRP To Go Public In an  interview during the Consensus 2021 event, Garlinghouse commends Coinbase following the crypto exchange’s debut on the Nasdaq in April. Despite the fact that the general crypto market appears to be in decline, Ripple’s native cryptocurrency, XRP, has risen 14.88% to $1. XRP is now trading at $1.02 with a market valuation of $44.21 billion at the time of writing. To put this into perspective, XRP’s price has risen by 390% over the past year Garlinghouse says Ripple is considering pushing through with its plan to launch an initial public offering, but it will have to wait until the lawsuit with the SEC is over. “I think that the likelihood that Ripple is a public company is very high at some point. I think in the middle of an SEC lawsuit, you know we need to get that clo

Cardano Founder Charles Hoskinson shared his damning thoughts on the legacy financial system, concluding that cryptocurrency will take over because it offers a better way. The Banking System Brought This On Itself Much is said about the enmity between cryptocurrency and banking. While the banking system towers above cryptocurrency in terms of both capitalization and the number of users, Hoskinson believes this is a situation that will change. “You can’t go back; you can’t change that. You can’t put that genie back in the bottle. Central banks will fade away, it’s just going to happen. Your conventional legacy banks are going to fade away.” His reason for thinking this comes down to the nepotism and profiteering embedded within the banking system. All of which conspire to squeeze the “little guy,” often in circumstances of desperation and lack of choice. “It wasn’t us who charged 15% to some of the poorest people in the world to move their money home to take care of their par