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CATEGORY: 2022


Coinbase beats Q4 earnings estimates amid falling transaction volume

Author: Cointelegraph By Luke Huigsloot
United States
Feb 22, 2023 12:00

Coinbase beats Q4 earnings estimates amid falling transaction volume

Transaction volume on the exchange fell 12% in 2022's fourth quarter, but the firm still beat forecast earnings despite a 57% year-on-year revenue drop.

Feb 08, 2023 07:10

The Ultimate NFT Guide 2023 – New to NFTs? START HERE

Wondering what are NFTs, how to buy them, and which are the best NFT projects? Let's explain everything you need to know in this NFT guide.

Feb 02, 2023 06:35

dYdX Price Analysis: DYDX Rises To Outperform The Crypto Market, What’s Next?

DYDX token has been trading with a bullish bias since late December, rising 236% year-to-date. The bears attempted to dissuade the rally around mid-January, but [...]

Feb 01, 2023 05:05

Inflows into Crypto Investment Products Hit Highest since FTX Collapse

<p>The average weekly inflows into digital asset-based investment products reached $36.8 million in January, which is the highest since the collapse of the once-leading crypto exchange, FTX, in November last year. The new height comes months after <a href="https://www.financemagnates.com/cryptocurrency/troubled-ftx-files-for-bankruptcy-as-ceo-bankman-fried-resigns/" target="_blank" rel="follow">FTX’s bankruptcy</a> led to a crypto withdrawal frenzy.</p><p>CryptoCompare, a UK-based crypto market data provider, disclosed these numbers on Wednesday in its Digital Asset Management Review for January 2023. According to the data provider, the total assets under management (AUM) of digital asset investment products also improved by 36.8% month-over-month in January, reaching $19.7 billion. The firm noted the figure is the highest AUM on record since May 2022.</p><p>“The bullish sentiment was driven by liquidated short positions and a favorable macro environment, reflected in the most recent CPI announcement, which saw Bitcoin's price reach $23,000; its highest level since August 2022,” CryptoCompare explained.</p><p>However, despite the improvement, the AUM still falls “considerably” short of total assets under management posted in January last year. This comes as a result of the downtrend experienced in the crypto and traditional asset markets in 2022.</p><p>“In January 2023, average daily aggregate product volumes across all digital asset investment products saw a decent recovery, rising 30.0% to $72.5mn. Despite this, volumes are still 84.4% lower compared to January 2022 and 95.2% lower than the all-time high recorded in January 2021,” CryptoCompare explained.</p><p>Watch the recent FMLS22 session on the crypto market structure.</p><p>Grayscale Okay Despite Troubles at Genesis</p><p>According to data shared by CryptoCompare, Grayscale’s Bitcoin Trust (GBTC) continued to top the Bitcoin trust market in January as its assets under management increased by 38.4% to $14.5 billion month-over-month. GBTC is managed by Grayscale Investment, a digital asset manager and a subsidiary company of the Digital Currency Group (DCG).</p><p>Grayscale Investments’ bitcoin trust remains strong “despite the uncertainty surrounding Genesis Trading," CryptoCompare said. In mid-November, the crypto lender Genesis Global Capital, which is owned by DCG, faced a 'liquidity crunch' and <a href="https://www.financemagnates.com/cryptocurrency/crypto-lender-genesis-files-for-bankruptcy-in-new-york/" target="_blank" rel="follow">sought a $1 billion emergency loan</a>. However, over two weeks ago two lending subsidiaries of the firm <a href="https://www.financemagnates.com/cryptocurrency/crypto-lender-genesis-files-for-bankruptcy-in-new-york/" rel="follow" target="_blank">filed for bankruptcy protection </a>before a Manhattan court.</p><p>In addition, the crypto exchange Gemini is <a href="https://www.financemagnates.com/cryptocurrency/winklevoss-feud-with-genesis-leads-to-earn-users-class-action-request/" target="_blank" rel="follow">battling with Genesis</a> over the payment of a $900 million debt under the Gemini Earn programme. Moreover, three Gemini Earn customers recently <a href="https://www.financemagnates.com/cryptocurrency/winklevoss-feud-with-genesis-leads-to-earn-users-class-action-request/" target="_blank" rel="follow">filed a class action arbitration request</a> against Genesis for allegedly failing to return Gemini Earn users’ assets. Compounding the situation, the US Securities and Exchange Commission recently <a href="https://www.financemagnates.com/cryptocurrency/sec-takes-gemini-genesis-to-court-for-selling-unregistered-securities/" target="_blank" rel="follow">charged both Gemini and Genesis</a> for allegedly selling unregistered securities.</p><p>“Despite the growth in assets under management and trading volume, the discount associated with Grayscale’s GBTC Trust has only slightly narrowed. The situation remains delicate, as Grayscale faced challenges with the bankruptcy announcement of its sister company Genesis due to exposure to FTX in January, and the ongoing lawsuit against the SEC to convert its Bitcoin Trust into an ETF,” CryptoCompare explained.</p> This article was written by Solomon Oladipupo at www.financemagnates.com.

Feb 01, 2023 06:30

dYdX Price Soars 50% Following Release Of The 2022 Annual Report

DYDX price exploded on the last day of January rallying as much as 49.86% brushing shoulders with $3.5. This was after the release of the [...]

Jan 23, 2023 06:05

In 2023, Bitcoiners Must Stop Shooting (Or Blocking) The Messengers

As the New Year begins, Bitcoiners should take this opportunity to engage with constructive criticism.

Jan 23, 2023 05:05

Crypto Market Cap Fell by 64.1% to $829 Billion in 2022: Report

<p class="MsoNormal">With bearish trends in Bitcoin (BTC), Decentralized Finance (DeFi) and Non-Fungible Tokens (NFTs), the market capitalization of the global cryptocurrency market slumped by 64.1% to $829 billion at the end of 2022, which is down from $2.3 trillion at the start of the year. </p><p class="MsoNormal">In a similar fashion, spot trading volume on the top 10 crypto exchanges collapsed to $0.46 trillion in December, which is down 67.3% from $1.5 trillion in January 2022. The deepest decline in this market occurred during the fourth quarter of the year in the aftermath of <a href="https://www.financemagnates.com/cryptocurrency/ftx-the-rise-the-fall-and-the-reaction/" target="_blank" rel="follow">FTX's collapse </a> and the resulting contagion that impacted over 1 million estimated depositors, creditors and investors, the report notes.</p><p class="MsoNormal">These figures are according to the CoinGecko 2022 Annual Crypto Industry Report <a href="https://www.coingecko.com/research/publications/2022-annual-crypto-report" target="_blank" rel="follow">released</a> on Tuesday. The report notes that BTC emerged as the worst-performing asset in the year as it sank by 64.2%. However, BTC traded above $21,000 on Tuesday, with the total market cap briefly topping above the US$1 trillion mark. </p><blockquote class="twitter-tweet"><p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/CoinGecko?src=hash&ref_src=twsrc%5Etfw">#CoinGecko</a> 2022 Annual Crypto Industry Report ??2022 was a tumultuous year for <a href="https://twitter.com/hashtag/crypto?src=hash&ref_src=twsrc%5Etfw">#crypto</a> - NFTs and DeFi are among the hardest hit sectors, while stablecoins had a mixed performance.Here are 8 key highlights you shouldn't miss ?? <a href="https://t.co/w4n4BoSq7x">pic.twitter.com/w4n4BoSq7x</a></p>— CoinGecko (@coingecko) <a href="https://twitter.com/coingecko/status/1615292037141794816?ref_src=twsrc%5Etfw">January 17, 2023</a></blockquote><p class="MsoNormal text-align-justify">Also, the CoinGecko report highlights that the NFT industry had its <a href="https://www.financemagnates.com/cryptocurrency/mutant-ape-planet-nft-creator-aurelien-michel-arrested-at-jfk-airport/" target="_blank" rel="follow">first bearish cycle</a> in 2022 with trading volume across the top eight chains shrinking to $1.5 billion by the last quarter of the year, which is down from $13.3 billion during the first quarter. </p><p class="MsoNormal text-align-justify">In addition, the DeFi market saw its tokens, minus stablecoins and wrapped tokens, collapse by 72.9% “with various governance and <a href="https://www.financemagnates.com/terms/u/utility-tokens/" class="terms__main-term" id="5f74fe44-312a-4855-ad8b-6181eb376bbd" target="_blank">utility tokens</a> losing over $48.4 billion in value.” The stablecoin market, for its part, descreased 16.6% to $27.3 billion by year-end.</p><p>Watch this recent FMLS22 session on the future of cryptocurrencies.</p><p class="MsoNormal text-align-justify">Resilient Crypto Industry?</p><p class="MsoNormal text-align-justify">However, despite these trends, <a href="https://www.financemagnates.com/cryptocurrency/institutions-stick-to-crypto-despite-market-upheaval-in-2022/" target="_blank" rel="follow">crypto adoption remained steady</a> “with a healthy growth of BTC and Ethereum addresses.” Furthermore, the report notes that Ethereum <a href="https://www.financemagnates.com/terms/s/staking/" class="terms__secondary-term" id="ebfdd4d9-00b3-41ff-bff5-878cd2eb105f" target="_blank">staking</a> improved significantly quarter-on-over-year, reaching 15.8 million units by the end of the year. This represents an 80% increase compared to the 8.8 million units posted at the start of 2022. </p><p class="MsoNormal">“In the first half of 2022, growth of total staked ETH in validators can be attributed to a bullish Ethereum Merge sentiment. Following <a href="https://www.financemagnates.com/cryptocurrency/post-ethereum-merge-crypto-flows-indicate-continued-caution-among-investors/" target="_blank" rel="follow">a successful Merge in mid-September</a>, the crypto community began to anticipate the upcoming Shanghai upgrade – driving its notable growth last quarter,” CoinGecko explained.</p> This article was written by Solomon Oladipupo at www.financemagnates.com.

5 sneaky tricks crypto phishing scammers used last year: SlowMist

Author: Cointelegraph By Stephen Katte
United States
Jan 10, 2023 08:20

5 sneaky tricks crypto phishing scammers used last year: SlowMist

SlowMist found that across 303 recorded blockchain security incidents in 2022, nearly a third were made up of phishing attacks, rug pulls and scams.

Jan 06, 2023 06:05

The Good, The Bad And The Ugly From 2022, Bitcoin’s Year Of The Bear

For Bitcoin, 2022 was a year of lessons, frustrations, vindications, progress and, in some cases, regress. What should we take with us for 2023?

Jan 03, 2023 06:05

2022 Paved The Way For National Bitcoin Adoption, And 2023 Will Be Even Bigger

In 2022, nation state Bitcoin adoption accelerated, setting the stage for even more progress this year.

$62M crypto stolen in Dec was the ‘lowest monthly figure’ in 2022: CertiK

Author: Cointelegraph By Jesse Coghlan
United States
Jan 02, 2023 08:20

$62M crypto stolen in Dec was the ‘lowest monthly figure’ in 2022: CertiK

December proved to be the month with the least crypto stolen in 2022, although there were still 23 major incidents, according to CertiK.

Dec 28, 2022 02:25

LAST CHANCE to Benefit from ByBit 200,000 USDT Prize, Here’s How!

Let's talk about the new ByBit promotion and teach you how to participate in their newest tournament to win up to 200,000 USDT in bonuses.

Dec 25, 2022 07:05

Top 3 Altcoins to BUY before January 2023 (Don’t Miss OUT!)

Which altcoins should you buy today before the new year 2023? Here's our list of the top 3 altcoins to buy before January 2023.

Dec 25, 2022 06:05

From Prediction To Reality: How Bitcoin Will Win In 2023

I predicted that Bitcoin would face attacks between 2018 to 2023, then its period of true victory will start.

Top-five most Googled cryptocurrencies worldwide in 2022

Author: Cointelegraph By Yashu Gola
United States
Dec 23, 2022 04:40

Top-five most Googled cryptocurrencies worldwide in 2022

Bitcoin remains the most-searched cryptocurrency in 2022 by far thanks to its top-brand status and being in a league of its own when it comes to decentralization.

Dec 22, 2022 06:05

2022 Was Bitcoin’s Year Of Differentiation

2022 was marked by high-profile financial sovereignty issues and crypto implosions. The case for Bitcoin has never been more clear.

US Senator Toomey introduces stablecoin bill as congressional session wraps up

Author: Cointelegraph By Brayden Lindrea
United States
Dec 22, 2022 08:20

US Senator Toomey introduces stablecoin bill as congressional session wraps up

The soon-to-retire senator introduced the new stablecoin bill only a few weeks before the end of the 117th US congressional session.

Dec 20, 2022 02:25

Cardano Crash: Will ADA Price reach 10 cents?

ADA prices crashed and reached a current price of 26 cents. Will Cardano reach 10 cents? Where does the Cardano crash end?

Dec 15, 2022 07:05

DON’T Buy Cardano! Here’s why it’s Better to Wait for 2023

Despite being at a good price, the crypto market still looks bearish till 2023. If you're about to buy Cardano, don't. Here's why.

Dec 12, 2022 10:45

2022 – A Year in Review: The Top 5 Crypto Stories That Shook The Entire Crypto Market

This article is all about the top 5 crypto stories of 2022. Let's take a look at it in more detail.

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