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The customized pendants are set to cost 30 ETH a pop and will go on sale on August 5. Luxury jewelry brand Tiffany & Co has announced the sale of 250 diamond and gemstone encrusted pendants for CryptoPunk non-fungible token (NFT) holders.  The handcrafted CryptoPunk pendants were announced by the jewelry brand on July 31 on Twitter, and are priced at 30 ETH , equivalent to $50,600 each at the time of writing. We’re taking NFTs to the next level. Exclusive to CryptoPunks holders, NFTiff transforms your NFT into a bespoke pendant handcrafted by Tiffany & Co. artisans. You’ll also receive an additional NFT version of the pendant. Learn more: https://t.co/FJwCAxw8TN #NFTiff #TiffanyAndCo pic.twitter.com/pyKlWejHv4 — Tiffany & Co. (@TiffanyAndCo) July 31, 2022 According to an NFTiffs Frequently-Asked Questions page, the NFTiff token sale is set to launch on August 5 at 9 am (CST), and will only be available for purchase NFTiff tokens via its website. Each CryptoPunk

Bitcoin failed to clear the $25,000 resistance zone against the US Dollar. BTC is declining and might break the $23,250 support zone. Bitcoin attempted a clear move towards the $25,000 resistance but failed. The price is now trading below the $24,000 level and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $23,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $24,200 resistance to continue higher in the near term. Bitcoin Price Signals Breakdown Bitcoin price gained pace above the $23,500 resistance zone. There was a clear move above the $24,000 level and the price even broke the $24,500 level. It attempted a clear move towards the $25,000 resistance but failed. A high was formed near $24,670 and the price started a fresh decline. There was a move below the $24,200 and $24,000 support levels to move into a short-term bearish zone. Bitcoin declined below the 23.6% Fib retracemen

Tether said the hedge funds that saw Terra’s collapse as a reason to short USDT have “a fundamental misunderstanding of both the cryptocurrency market and Tether." Tether, the issuer of Tether (USDT), says that hedge funds that attempted to short its stablecoin after Terra’s collapse in May are using a thesis that is “incredibly misinformed” and “flat out wrong.”  In a blog post from July 28, Tether pointed to a June 28 Wall Street Journal podcast in which host Luke Vargas and guest Caitlin McCabe discussed the bearish crypto market and concerns over Tether’s backing assets as the reasons for short sellers’ appetite for Tether. Tether said that the hedge funds, which saw Terra’s collapse as a reason to short USDT, have “a fundamental misunderstanding of both the cryptocurrency market and Tether." “The simple fact that hedge funds view Terra’s collapse as a constructive thesis to short USDT represents the asymmetric knowledge gap between cryptocurrency market participan

A look at the best practices and worst hiding places for what could be the most important and wealthy possession in a home: a seed phrase. Under the mattress, in the seams of a piece of luggage or even rolled into a cigar, what are the worst and best ways for keeping a seed phrase safe? The key to unlocking and recovering cryptocurrency , a seed phrase, should be secured and safe.  Especially now that prices are low and the crypto tourists have checked out , it might be time for a crypto security spring clean. Security starts with a seed phrase, sometimes called a recovery phrase. There’s no denying it: Bitcoin and the crypto space writ large are in the clutches of a bear market. Since Do Kwon’s Terra experiment went up in smoke , a crypto contagion has choked the most reputable of exchanges, causing many self-sovereignty advocates to chant, “not your keys, not your coins.” Indeed, hardly a day goes by that another “trusted” crypto lender freezes customer withdrawals. From Singapo

Ethereum's “Merge” upgrade is expected to induce volatility in ETH price, but options traders can safely remain long by using this strategy. Ether ( ETH ) is reaching a make-it or break-it point as the network moves away from proof-of-work (PoW) mining. Unfortunately, many novice traders tend to miss the mark when creating strategies to maximize gains on potential positive developments. For example, buying ETH derivatives contracts is a cheap and easy mechanism to maximize gains. The perpetual futures are often used to leverage positions, and one can easily increase profits five-fold. So why not use inverse swaps? The main reason is the threat of forced liquidation. If the price of ETH drops 19% from the entry point, the leveraged buyer loses the entire investment. The main problem is Ether's volatility and its strong price fluctuations. For example, since July 2021, ETH price crashed 19% from its starting point within 20 days in 118 out of 365 days. This means that any 5x

On-chain data shows the Bitcoin short-term holder SOPR is approaching the “breakeven” value, a point that has acted as resistance for the crypto’s price in the past. Bitcoin Short-Term Holder SOPR Surges Up And Approaches A Value Of “1” As pointed out by an analyst in a CryptoQuant post, the selling pressure from the short-term holders may see an increase if their SOPR keeps rising up. The “Spent Output Profit Ratio” (or SOPR in short) is an indicator that tells us whether the Bitcoin market as a whole is currently selling at a profit or at a loss. The metric works by going through the on-chain history of each coin being sold to see what price it sold at before this. If the previous value of any coin was less than the current price, than that coin moved at a profit just now. While the last selling price being lesser than the latest one would imply the sale of the coin lead to a realization of loss. When the SOPR’s value is greater than one, it means the overall market is selling a

Consolidation from BTC has opened the door for BNB, UNI, FIL and THETA to run higher. Bitcoin ( BTC ) has made a strong comeback in the month of July and is on track for its best monthly gains since October 2021. The sharp recovery in Bitcoin and several altcoins pushed the Crypto Fear and Greed Index to 42/100 on July 30, its highest level since April 6 . Investors seem to be making the most of the depressed levels in Bitcoin. Data from on-chain analytics firm Glassnode shows that Bitcoin in exchange wallets has dropped to 2.4 million Bitcoin in July, down from the March 2020 levels of 3.15 million Bitcoin. This has sent the metric to its lowest level since July 2018. Crypto market data daily view. Source: Coin360 Bloomberg Intelligence senior commodity strategist Mike McGlone highlighted that the United States Federal Reserve’s indication to consider rate hikes on a “meeting by meeting basis” may lay the groundwork for Bitcoin to outperform most assets . He said that Bitcoin

Mining expert Mohamed El Masri predicts that Bitcoin will be worth around $430,500 when the last coin is minted. When the last Bitcoin ( BTC ) is finally mined, the livelihood of miners who rely on block rewards as a source of income will be affected. Despite this, the future of mining stays promising, according to an expert in the space.  In a Cointelegraph interview, Mohamed El Masri, the founder of mining solutions provider PermianChain, talked about new players jumping into mining, the future of mining and what happens to mine profitability after the 21 millionth BTC is minted. El Masri highlighted that efficiency is a very important focus that new players in the space must take into consideration. Because mining profit depends on how efficient a mining operation is, the executive noted that efficiency brings the cost of energy down to a minimum. When asked about the future of the mining space, the executive shared that it’s not always about profit. El Masri said that the fut

Cryptocurrency market analysts unpack the ramifications of consecutive quarters of negative GDP growth in America. Data from the United States commerce department suggests America has entered a technical recession, but market analysts have highlighted key metrics that suggest investors are optimistic. The American economy shrunk for the second consecutive quarter, according to government data released on Thursday, fitting the criteria for a technical recession. The Biden Administration maintains that the U.S. is not in a recession, highlighting low unemployment rates and other metrics that counter the argument. Mati Greenspan, founder & CEO of Quantum Economics, addressed the topic in his latest QE newsletter, noting a paradoxical effect between the GDP drop and a surge in stocks and other risk assets. He attributed this move to the U.S. Federal Reserve’s decision to raise interest rates by 0.75%, which saw cryptocurrency markets outperform stocks , with Ethere ( ETH ) surgin

Estimates for July inflation across the euro area make for grim reading at 8.9%, with the U.S. dollar rebounding. Bitcoin ( BTC ) sought to pin $24,000 as support before the July 29 Wall Street open as fresh inflation data sparked worries for the euro. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Eurozone inflation estimate shows no peak Data from Cointelegraph Markets Pro and TradingView  showed BTC/USD maintaining most of its latest gains after spiking to nearly $24,500 overnight.  The day’s macro action delivered painful news for the European Economic Area (EEA), as the latest estimates for euro inflation came in at 8.9% for July — still climbing from June’s 8.6%. “Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in July (39.7%, compared with 42.0% in June), followed by food, alcohol & tobacco (9.8%, compared with 8.9% in June), non-energy industrial goods (4.5%, compared with 4.3% in June) and ser

The Ethereum “Merge” has become a hot topic among top crypto analysts after the incident that led to the collapse of the Ethereum network in the sale of Otherside by Yuga labs, with nearly $200M lost as gas fees. Related Reading: Proof of Work Vs Proof of Stake – Laneaxis The Ethereum merge, also known as Ethereum 2.0, is the upgrade of the existing execution of the Ethereum layer 1 from proof-of-work (PoW) to proof-of-state (PoS), Beacon chain. POW was first used by the early pioneers of the blockchain Bitcoin and Ethereum. It aims to achieve decentralization and security by using miners to decode cryptographic algorithms or puzzle-like maths.  As the demand increases for transactions, it becomes slow, gas fees increases, and resources intensify. Proof-of-Stake (POS) is similar to POW, just that users authenticate transactions on the blockchain employing stake and get rewarded.  “The Merge” is a massive step for Ethereum and the community; it is important to note that the Beacon

The Ethereum community has been anticipating the move from the Proof-of-Work (PoW) to the Proof-of-Stake mechanism. Luckily for everyone, the Merge will soon occur, and reports show that the developers are approaching the final test phase before the significant event. Tim Beiko, the lead developer on Ethereum, disclosed these details on July 28. According to him, the testnet transition will take place on the Goerli testnet, a close simulation of the Ethereum mainnet. Goerli/Prater Merge Announcement Prater will run through the Bellatrix upgrade on August 4th, and merge with Goerli between August 6-12th: if you run a node or validator, this is your last chance to go through the process before mainnet https://t.co/JAz5AJe12B — Tim Beiko | timbeiko.eth (@TimBeiko) July 27, 2022 This version is known as Prator, and the date will be between August 6 and 12. The network upgrade will be called Paris, but another upgrade, Bellatrix, will position Prater well for the Goerl Merge. Accordin

On-chain data shows the Ethereum exchange inflows have declined to low values recently, a sign that could be bullish for the crypto’s price. Ethereum 7-day MA Exchange Inflows Have Gone Down In Recent Weeks As pointed out by an analyst in a CryptoQuant post, the ETH price has been reversing up as the PoS merge comes near. The “exchange inflow” is an indicator that measures the total amount of Ethereum moving into wallets of all centralized exchanges. When the value of this metric shoots up, it means a large number of coins are being deposited into exchanges right now. Since investors usually transfer to exchanges for selling purposes, such a trend can be bearish for the price of the crypto. On the other hand, low values of the indicator can suggest holders aren’t sending in many coins to exchanges at the moment. Depending on whether they are also withdrawing or not, this trend could be either bullish or neutral for the value of ETH. Now, here is a chart that shows the trend in the

The government agency said that while deposits at insured banks were covered for up to $250,000, no such protections applied to those at crypto companies. The United States Federal Deposit Insurance Corporation, or FDIC, has issued an advisory informing the public it “does not insure assets issued by non-bank entities, such as crypto companies.” In a Friday notice, the FDIC advised banks in the U.S. that they needed to assess and manage risks in third-party relationships with crypto firms. The government agency said that while deposits at insured banks were covered for up to $250,000, no such protections applied “against the default, insolvency, or bankruptcy of any non-bank entity, including crypto custodians, exchanges, brokers, wallet providers, or other entities that appear to mimic banks.” “Some crypto companies have misrepresented to consumers that crypto products are eligible for FDIC deposit insurance coverage or that customers are FDIC-insured if the crypto company fails

The $280 billion bill, which aids the semiconductor industry, also incorporated Representative Darren Soto’s bill to create a position to advise the president on blockchain. The United States House of Representatives passed the Chips and Science Act on Thursday by a vote of 243 to 187. The bill, which was introduced into the Senate over a year ago, provides grants and incentives to the semiconductor industry and encourages research. It also creates a blockchain and cryptocurrency specialist position in the White House Office of Science and Technology Policy (OSTP). The bill passed the Senate on Wednesday. It has an overall price tag of $280 billion, which includes $52 billion in grants and incentives for U.S. semiconductor manufacturers who face fierce competition from China, and $170 billion in incentives for research. It is expected to contribute to the easing of supply chain issues in the industry as well. ️ Good news from DC: the Chips Bill just approved by Congress creates a

Tesla's foray into Bitcoin may have been one big distraction for the electric vehicle maker, which reported mixed financial results earlier this month. Elon Musk’s Tesla proved to be the ultimate paper hands after the electric vehicle maker sold 75% of its Bitcoin ( BTC ) holdings in the second quarter. I say, good riddance. The cult of personality isn’t good for Bitcoin, and neither is a technologist who treats the asset as his plaything. As far as we are aware, Musk hasn’t sold any of his personal Bitcoin stash and Tesla still has an estimated 10,800 BTC on its books. Still, the less we have to hear about Musk and Bitcoin, the better.  In this week’s Crypto Biz, we chronicle Tesla’s sale of BTC, KuCoin’s fight against fake news and Cathie Wood’s sale of Coinbase stock. Tesla reports $64M profit from Bitcoin sale Tesla’s decision to sell most of its Bitcoin wasn’t as boneheaded as it appeared at first. The company scored a $64 million profit in the exchange . Aside from sell

Bitcoin price has hit resistance at the $24,000 level, resulting in a slight pullback in select altcoins. Is the rally over? Bitcoin ( BTC ) hit a six-week high above $24,000 on July 29, extending its rally that picked up momentum after the United States Federal Reserve hiked rates by 75 basis points on July 27. If the rally sustains for the next two days, Bitcoin could be on target to close the month of July with gains of more than 20%, according to data from Coinglass. It is not only the crypto markets that have seen a post-Federal Open Market Committee (FOMC) rally. The U.S. equities markets are on track for big monthly gains in July. The S&P 500 and the Nasdaq Composite are up about 8.8% and 12% in July, on track to their best monthly gains since November 2020. Daily cryptocurrency market performance. Source: Coin360 The crypto and equities markets have risen in the expectation that the pace of rate hikes by the Fed will slow down in the future. Arthur Hayes, ex-CEO o