Bitcoin price briefly hits $29K despite recent Binance crackdown

Despite ongoing crypto crackdowns, the price of BTC briefly tipped over $29,000on March 30, clocking a new high for 2023.

The price of Bitcoin (BTC) briefly tipped over $29,000 on March 30, recording a new high for the year, despite recent United States regulatory crackdowns on crypto firms and related uncertainty.

According to Cointelegraph Markets Pro, the price of Bitcoin reached $29,132.82 on March 30, reaching levels seen just before the collapse of cryptocurrency exchange FTX in early November 2022.

*Bitcoin's price over 24 hours. Source: Cointelegraph Markets Pro*

The increase comes despite a range of regulatory crackdowns in recent days, such as the United States Commodity Futures Trading Commission lawsuit against Binance and its CEO Changpeng "CZ" Zhao on March 27.

Bitcoin’s price bounce-back in the wake of such a bombshell development drew surprise from many industry commentators. Some believe this is due to speculation the lawsuit will only result in minor fines for the leading crypto exchange by transaction volume.

The Crypto Fear and Greed Index — which aims to numerically present the current “emotions and sentiments” towards Bitcoin and other large cryptocurrencies — has been steadily increasing over the last month despite wobbles in the global banking sector.

The crypto Fear & Greed Index. Source: Alternative.me

Some traders have argued that the recent price rebounds may have been due to large-volume traders buying back in, which was more related to their buying strategies rather than fundamentals.

from https://ift.tt/TJbn4Yd
https://ift.tt/4FEqhZJ

Comments

ENS DAO delegates offer perspective on DAO governance and decentralized identity

AlphaWallet CEO and Spruce co-founder talk about their roles as contributors to the Ethereum Name Service following the project's recent airdrop. Earlier this month, the Ethereum Name Service, or ENS, formed a decentralized autonomous organization, or DAO, for the ENS community. Cointelegraph spoke to two ENS DAO delegates who applied for the opportunity to represent the community and stay involved in the decision making process: Victor Zhang, CEO of AlphaWallet, an open source Ethereum wallet, and Gregory Rocco, co-founder of Spruce, a decentralized ID and data toolkit for developers. Zhang spoke about his experience as an external contributor to ENS and an early supporter since 2018. Zhang initially sought to help ENS by offering Alpha Wallet as a user-friendly tool for resolving .eth names and cryptocurrency wallet addresses. Essentially, if a user inputs an .eth name in the AlphaWallet, it will show the wallet address, and vice versa using reverse resolution. Alpha...

How Social Platform Chingari is Using Web 3.0 to Transform the Traditional Way We Use Social Media

The world is changing. This isn’t news to anyone, but sometimes it is nice to realize that—contrary to news headlines—not all the change is bad. In fact, the last decade has seen so much innovation and so many improvements to technology that even 2015 seems like a different world. Internet speeds, connecting with anyone globally (for free), and our ability to reach large groups of people without a middleman is nothing short of revolutionary. When it comes to technology evolution, this often happens with different iterations. Once a system is mature, there’s a better idea of what we would like to change and improve. We go back to the drawing board, target our creative minds at the issues, and create a new version that has evolved to better meet our needs. The Internet has followed this model since its inception, evolving through three distinct stages. We are only at the cusp of the third stage, called Web 3.0, with technologies such as blockchain and ...

Lightning Network Exploits Continue to Hinder the Bitcoin Scaling Solution

via Bitcoin News https://ift.tt/3mGmODQ While bitcoin has run-up to all new price highs in 2020, a great number of crypto supporters have been complaining about the mempool backlog and the high fees needed to send a transaction. Meanwhile, the Lightning Network is far from seeing widespread adoption, and a number of attack vectors have been revealed this year. At the time of publication, the Bitcoin ( BTC ) mempool (backlog of transactions) shows 113,000+ unconfirmed transactions and the backlog hasn’t been this high since 2017. When the bull run took place three years ago, transaction fees and unconfirmed transactions shot through the roof. Currently, according to bitcoinfees.cash data on October 31, the next BTC block fee is $10.77 and the current median fee is $6.43. Even with the high fees and the mempool clog , the greater bitcoin community is still transacting mostly onchain. The Layer 2 protocol built on top of Bitcoin called the Lightning Network (LN) was supposed to eas...

Crypto Coin Search

Search This Blog