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According to Ganna Voievodina, Ukraine’s law on digital assets was adopted “just in time” for companies handling crypto and a government looking for tax revenue. While many parts of Ukraine are still facing threats from Russia’s military, some residents, industry leaders and government officials are turning to digital assets for help in relocating people, funding humanitarian aid projects and getting supplies to its own soldiers. On Feb. 17, exactly one week before Russian forces began their attack on Ukraine, the country’s legislature adopted the “On Virtual Assets” bill. Ukrainian President Volodymyr Zelenskyy later signed the bill into law , establishing a legal framework for Ukraine to operate a regulated crypto market. Ganna Voievodina, chief legal officer of Ukraine-based crypto exchange Kuna and one of the bill's authors, told Cointelegraph that the ramifications of the legislation came at a critical time when the country needed legal access to crypto. “A lot of Ukraini

There are only hours remaining until the Q1 2022 close in Bitcoin price action. With the important quarterly candle set to close tonight, let’s look at what technicals might say about the direction of the next quarter. Q1 2022 Comes To A Close For Bitcoin The first quarter of a year, often sets the tone for the year to come. In investments, a poor Q1 performance is indicative of a bad year ahead. Considering the fact that Bitcoin price is now above $45,000 after touching $32,000 this quarter, it is tough to say the performance has been “poor” by anything other than crypto standards. Related Reading | Bitcoin Weekly Momentum Flips Bullish For First Time In 2022 The cryptocurrency has recovered nearly 40% from the low, leaving a long wick behind. Such a long wick suggests that before the quarter came to a close, buyers stepped up in a major way. Buyers were able to step up in a larger capacity in Q1 2022 than bears were able to in the final quarter of last year. The bearish wick to cl

CELR, IOST and SKALE secured double-digit gains, thanks to a handful of protocol upgrades and announcements related to cross-chain ability. Volatility is back in full force in the cryptocurrency market and the price of Bitcoin ( BTC ) has undergone several $1,000 swings over the past few days and select altcoins have seen their prices surge to new highs after major announcements.  The big winners on March 31 include protocols that focus on interoperability between the major blockchain networks as well as projects that are looking to release major updates in the near future. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were SKALE Network (SKL), IOST and Celer Network (CELR). SKALE Network prepares to launch v2.0 The SKALE Network is an Ethereum ( ETH ) native multichain scaling network focused on helping to run Solidity smart cont

While supporting crypto mining companies, the Russian lawmakers are still not sure whether they should ban individuals from mining crypto. As Russia continues to work on new regulations for the cryptocurrency industry, the Russian Ministry of Finance has expressed fresh support for Bitcoin ( BTC ) mining. Russia should encourage the development of industrial-level cryptocurrency mining in the country, the Ministry’s director of the financial policy department Alexey Yakovlev urged. There’s also no point in banning retail or household Bitcoin mining, Yakovlev said, as the local publication Prime reported on Thursday. The Russian lawmakers discussed the two categories of cryptocurrency miners at a recent round table called the “Mining regulation in Russia: For and against.” According to Yakovlev, Russian officials reached a consensus on the regulatory framework for crypto mining companies long ago, supporting their work and requiring them to pay taxes. But there’s still some disag

On-chain data shows Bitcoin investors have been afraid to take risk recently as the leverage ratio has remained low in the last few days. Bitcoin Leverage Ratio Remains Low In Past Few Days As pointed out by an analyst in a CryptoQuant post, investors haven’t taken much risk since the surge in the crypto’s price a few days back as leverage in the market is low at the moment. A relevant indicator here is the “open interest,” which shows the total amount of Bitcoin futures contracts currently open on all derivatives exchanges. The “estimated leverage ratio” is a metric that’s defined as the ratio between this open interest and the total amount of coins present on all derivatives exchanges (exchange reserve). What this ratio tells us is the average amount of leverage that each Bitcoin futures investor is currently making use of. When the value of the indicator is high, it means users are taking on a lot of risk right now. Such values can result in higher price volatility. Related Re

The firm previously said its reserves would be in cash and treasuries. On Thursday, USD Coin ( USDC ) operator Circle announced that it had selected financial institution BNY Mellon as the custodian of its USDC reserves. Founded in 1784, BNY Mellon is one of the oldest banks in America and possesses over $46.7 trillion in assets under custody or administration worldwide. It serves as a single point of contact for clients looking to manage their investments. With the new partnership, BNY Mellon said it will also explore the possibility of using digital cash for settlement purposes. Roman Regelman, CEO of asset servicing and head of digital at BNY Mellon, gave the following remarks:  "We are at a point in the evolution of our industry where the digitization of assets presents new and exciting opportunities to a broad range of market participants. As a custodian for USDC reserves, our role supports the broader marketplace and brings value to clients, founded on our role at the in

Up 57% in two weeks and 40% in 30 days, SushiSwap (SUSHI) moves at its own beat. The decentralized finance (DeFi) token trends to the upside on the back of a potential integration with Stargate, the LayerZero implementation. Related Reading | Why SushiSwap’s 15% Gain Could Be The Beginning Of An Uptrend At the time of writing, SUSHI trades at $4.80 with a 14% profit in 24 hours. SUSHI with small gains on the 4-hour chart. Source: SUSHIUSDT Tradingview LayerZero is a communication protocol that enables direct interaction between different blockchains. Stargate is a bridge solutions running on top of it. By integrating with SushiSwap, the decentralized exchange (DEC) could unify the liquidity spread across its 16 different versions. In that way, users would access cheaper cross-chain transactions, more security, new products and investment strategies. If the integration is approved, for example, liquidity providers on this DEX could expand their rewards. In step of receiving a porti

AAVE price broke from its long-term downtrend after the launch of Aave v3 added support for six different blockchain networks in the DeFi space. The decentralized finance (DeFi) market has been undergoing a period of maturation over the past year and many of last year's fast risers have faded into obscurity but this does not mean the formerly "famous" protocols have not continued to build. One blue-chip project that is regaining momentum is Aave ( AAVE ), a non-custodial liquidity protocol that allows users to lend, borrow or stake their assets to earn yield from their holdings. Data from Cointelegraph Markets Pro and TradingView shows that the price of AAVE has rallied 110% from a low of $114 on March 15 to a daily high at $242 on March 29 as its 24-hour trading volume spiked 442% to $1.26 billion. AAVE/USDT 4-hour chart. Source: TradingView Three reasons for the price resurgence in AAVE have been the release of AAVE v3, the expansion of the protocol's ecos

The zero-knowledge-based platform is expected to be fully operational in Q3 of 2022. Layer-2 Ethereum scaling solution, Polygon ( MATIC ) has announced the establishment of Polygon ID, an identity platform designed to complement the decentralized finance and decentralized application (DApp) economies by providing users greater privacy and sovereignty within Web3. Professed to be the first identity platform of its kind to adopt cryptographic-based zero-knowledge technology, the platform will utilize Iden3’s Circom ZK toolkit, including zk-SNARK cryptography for the generation and the zk-Proof Request Language protocol to verify the authenticity of the proposed claim. Users of the platform can provide proof of their identity when engaging in activities such as initial coin offerings, token airdrops, decentralized exchange (DEX) trading, or those in which strict Know Your Customer (KYC) requirements apply. With the capacity to introduce a Sybil-resistant one-vote-per-person mechanis

Data shows the Bitcoin fear and greed index has now reached the highest level since the peak in November as the price of the crypto rallies up. Bitcoin Fear And Greed Index Now Points At “Greed” As per the latest weekly report from Arcane Research, the BTC fear and greed index has surged to values of greed sentiment this week. The “fear and greed index” is an indicator that tells us about the current general market sentiment among Bitcoin investors. The metric uses a numeric scale that travels from one to hundred for representing this sentiment. All values above fifty signify that investors are greedy at the moment. While those below the cutoff suggest a fearful market. Values above 75 and below 25, that is, the values toward the ends of the range, represent extreme greed and extreme fear, respectively. Now, here is a chart that shows the trend in the Bitcoin fear and greed index over the past year: Looks like the value of the indicator has surged up recently | Source: Arcane Res

VeChain has been able to preserve its current levels as the crypto market loses steam. The sector has seen a recent bullish price action which has led the price of VET and other digital assets to a yearly high. Related Reading | Why VeChain (VET) Could Be On The Verge Of A 40% Rally At the time of writing, VeChain (VET) trades at $0.083 with a 13% and 80% profit in the last day and 30-days, respectively, according to data from CoinGecko. VET with bullish momentum on the 4-hour chart. Source: VETUSDT Tradingview Two weeks ago, NewsBTC reported a potential 40% rally for VeChain. Based on an analysis from Justin Bennett, the cryptocurrency was on the brick of breaking above a trend line which signaled potential appreciation. This trend line marked the beginning of a multi-month downtrend, and its reversal could take VeChain into the $0.10 price point. Therefore, Bennett called this move “significant in terms of the overall context of the market”. VeChain is yet to complete its full b

BTC and altcoins could enter a short consolidation phase before retesting their breakout levels, a sign that the current price action could be a buying opportunity. Bitcoin’s ( BTC ) rally is taking a breather near the 200-day simple moving average (SMA) and that has resulted in what is either a minor pullback or consolidation in BTC and select altcoins.  In the last few days, Terraform Labs has been on a Bitcoin buying spree. The wallet address, which has been speculated to be that of Terra, received $139 million worth of Bitcoin on March 30, taking its total to about $1.5 billion in BTC. With Terra breathing down its neck, MicroStrategy seems to have taken up the challenge. The business intelligence firm’s subsidiary MacroStrategy has secured a $205 million loan from Silvergate, which will be used to purchase Bitcoin, cover general corporate expenses and pay the necessary fees and interest on the loan. Daily cryptocurrency market performance. Source:  Coin360 The buying int

Cardano was pushed down in the crypto top 10 by market cap as LUNA and XRP took over its former place. However, ADA’s price has been surging in the last month and could reclaim previous highs as the general sentiment turns bullish. Related Reading | Cardano Soars 13% On Rumors Of Burn Mechanism Rollout, Charles Hoskinson Reacts At the time of writing, Cardano (ADA) trades at $1.20 with a 30% rally over this period. This makes ADA the best-performing cryptocurrency by market cap. ADA with bullish momemtum on the 4-hour chart. Source: ADAUSDT Tradingview ADA’s price has been recovering from a multi-month downside that saw its price drop from an all-time high at around $3 to under $1 in 2022. There are several factors contributing to the current rally. This includes the full implementation of smart contract capabilities, the increase in developer activity recorded by the network, the improvement of Cardano to make it more decentralized and scalable, according to its main developer IOG

ETH price has shown a strong recovery since bottoming at $2,500, but derivatives data suggests pro traders are moving with caution. Ether ( ETH ) price jumped 11% between March 26 and March 29 to reach $3,480, which is the highest level in 82 days. Currently, the price is down 9% year-to-date but does data support the belief that the altcoin has resumed its uptrend toward a new all-time high?  Institutional investors seem excited that the CoinShares Digital Asset Fund Flows Weekly Report revealed on Tuesday that the exchange-listed crypto products inflows reached the highest level in three months. Data showed that investment products for digital assets saw net deposits of $193 million last week. At the same time, the Office of Science and Technology Policy, an executive office of the President of the United States, launched a study to offset energy use related to digital assets . Furthermore, on March 9, U.S. President Joe Biden signed an executive order directing various federal

"A small but loud minority have wrongly claimed that Lisa Cook doesn’t meet the standards for this position — standards that only seem to apply for certain nominees,” said Sherrod Brown. The United States Senate will vote on President Joe Biden’s nominations to the Federal Reserve after delays instigated by Republican lawmakers. In a 50–49 vote on Tuesday, the Senate moved economist Lisa Cook’s nomination for governor in the Federal Reserve System out of the Banking Committee toward a final confirmation vote — though when the government body will take up the matter is uncertain. The Senate will also vote on prospective Fed chair Jerome Powell, who was named chair pro tempore in February, as well as Lael Brainard for vice-chair and economist Philip Jefferson as Fed governor. All four of Biden’s nominations for the central bank were held up for a February vote following a  boycott of the decision  by Senate Banking Committee Republicans who cited their concerns over prospective

GNO price notched a 50% gain after traders responded positively to the release of CowSwap token and the MEV-protection the protocol provides. This week Gnosis (GNO) price notched a swift 50%+ rally after the project took another step forward in its transition to the Coincidence of Wants Procotol, or CoW, an interface that offers traders protection from miner extracted value (MEV). Data from Cointelegraph Markets Pro and TradingView shows that the price of GNO has gained 86% over the past seven days, rising from a low of $308 on March 21 to an intraday high at $574 on March 28. GNO/USDT 4-hour chart. Source: TradingView Three reasons for the rapid price increase for GNO are the release of the CowSwap (COW) token, which was airdropped to Gnosis holders, traders' appreciation of the MEV-protection offered by the protocol and the potential for GNO holders to receive additional airdrops in the future. COW drops! The most recent price surge appears primarily connected to the o

Glassnode data shows the RHODL Ratio’s current trend suggests that the Bitcoin market could be near capitulation. Data Shows Bitcoin RHODL Ratio Has Observed Decline Recently As per the latest weekly report from Glassnode, the supply of coins older than one year has significantly risen recently. To understand the RHODL ratio, you first need to have a look at the “realized cap HODL waves.” This indicator measures the USD-dominated amount of Bitcoin held by investors hodling since different periods of time. For example, the wave band for coin age more than 1+ year shows the total amount of coins all investors hodling since at least a year currently own. The “realized HODL” (or RHODL in short) ratio is a metric that tells us the ratio between the wave bands of 1-week old and 1-year old Bitcoin supplies. When the value of this indicator reaches a high, it means new holders hold a majority of the supply at the moment. Such values usually occur during price tops. Related Reading | Rese

Citizens School said it also intends to integrate blockchain technology into several aspects of its academic and administrative operations in the future. According to local news outlet Arabian Business, Citizens School, located in Dubai, will accept tuition payments denominated in Bitcoin ( BTC ) or Ethereum ( ETH ). Payments using digital assets are facilitated via an unnamed processing platform and are automatically converted into United Arab Emirates Dirhams (AED). Dr Adil Alzarooni, the founder of Citizens School, commented:  "We look forward to enhancing the role of young generations in achieving the UAE's digital economy. As more people embrace the era of digitalization, today's children will become the entrepreneurs and investors of tomorrow." Meanwhile, Hisham Hodroge, CEO of Citizens School, added: "Introducing the ability to pay tuition fees through cryptocurrencies goes beyond just providing another payment option. It is a means to drive further i

The crypto market has managed to sustain its bullish momentum and reclaimed the $2 trillion market cap. Bitcoin and Ethereum seem to have pushed the market from the mid $30,000, and to its current levels. Related Reading | Only In Crypto: A Croissant Explains Ethereum Hottest Trends Post Merge The first and second crypto by market cap has seen a surge of new bullish narratives. The upcoming “Merge” and Bitcoin has pristine collateral seem to have provided additional support for the current momentum. Both ETH and BTC recorded around 17% profits in the last week, as the crypto market moves upwards. However, Delphi Digital recorded layer-1 cryptocurrencies with gains surpassing 50% in a 30-day period. Near (NEAR) stood among the latter and led the current market recovery, followed by Polkadot (DOT), and Terra (LUNA). As seen below, Binance Coin (BNB), Solana (SOL), Avalanche (AVAX), Cosmos Hub (ATOM), and others were in the best performer group. Source: Delphi Digital via Twitter Del

Analysts say Bitcoin’s surge above $48,000 is the clear macro trend change that traders have been waiting for, but are new all-time highs on the way? Cryptocurrency investors are in high spirits on March 28 as the week-long melt-up across the market extended another day with Bitcoin ( BTC ) rallying to $48,000 and Ether trading above $3,400. Data from Cointelegraph Markets Pro and TradingView shows that after a brief pause near support at $47,000 in early trading on Monday, an afternoon wave of buying helped lift BTC above $48,000 and bulls are identifying $52,000 as the next stop. BTC/USDT 1-day chart. Source: TradingView Here’s a look at what several market analysts are saying about this latest move for Bitcoin and what could come next as the bullish narrative continues to gather momentum. $52,000 is the next stop A look at where BTC might be headed was provided by analyst and pseudonymous Twitter user ‘Nunya Bizniz’, who posted the following chart outlining a possible mo