Bitcoin price enters ‘transitional phase’ according to BTC on-chain analysis

[ad_1] The hopeful optimism of Bitcoin (BTC) traders seemed to dissipate in the first week of March as key on-chain metrics provided resistance.Now Bitcoin price is threatening a retest of the $22,000 level and a wave of short sellers would stand to profit if that occurred. If the short sellers’ strike price hit, some analysts believe Bitcoin price could drop as low as $19,000. Bitcoin options by strike price. Source:

Alameda Research files suit against Grayscale over ‘self-imposed redemption ban’

[ad_1] Alameda Research has filed suit against Grayscale Investments in the Court of Chancery in the State of Delaware, it announced March 6. It also made claims against Grayscale CEO Michael Sonnenshein, Grayscale owner Digital Currency Group (DCG) and the group’s CEO Barry Silbert. Alameda Research is an affiliate debtor of FTX, which filed for bankruptcy in November. The suit seeks to “unlock $9 billion or more in value for shareholders

Hermès asks court to halt sales of MetaBirkin NFTs following recent jury decision

[ad_1] Hermès International, the French luxury fashion house, has requested a Manhattan federal court to block artist Mason Rothschild from marketing or owning his "MetaBirkin" non-fungible tokens (NFTs) following a recent jury decision that found Rothschild had violated Hermes' trademark rights in its famous Birkin bags, as reported by Reuters. French luxury house Hermes International has asked a federal judge to block artist Mason Rothschild from promoting or owning his "MetaBirkin"

US trustee appeals FTX bankruptcy judge’s ruling to deny appointment of independent examiner

[ad_1] Lawyers for Andrew Vara, the United States Trustee representing the interests of the Department of Justice in crypto exchange FTX’s bankruptcy proceedings, has filed an appeal against a federal judge’s denial of a motion appointing an independent examiner in the case.In a March 6 filing in U.S. Bankruptcy Court for the District of Delaware, the legal team petitioned to have the U.S. District Court consider an appeal for a

Investor concerns persist as crypto investment products see 4th week of outflows

[ad_1] On Mar. 6, European cryptocurrency investment firm CoinShares published its “Digital Asset Fund Flows Report,” which revealed that Investors have continued to display negative sentiment toward crypto investment products, with outflows totaling $17 million. The negative sentiment was primarily focused on Bitcoin (BTC), with outflows for the cryptocurrency totaling $20 million. In contrast, short-Bitcoin products saw inflows for a third week totaling $1.8 million, according to CoinShares data.CoinShares' data showed

Warning sign for ETH price? Ethereum volume profile is down 90% since March 2020

[ad_1] The price of Ethereum’s native token, Ether (ETH), has recovered 78% since June 2022. But this doesn’t guarantee further upside, particularly with declining trading volumes suggesting that the risk of a major correction is high. Ether volume profile drops 90% since March 2020A “volume profile” indicator displays trading activity across prices, with the blue indicating buying volume and the yellow indicating sell volume. Illustration of a volume profile bar. Source: TradingViewIn

Stablecoins have plentiful machine-payment use cases in absence of euro CBDC: Report

[ad_1] Europe could lead the world in developing the Internet of Things (IoT) by harnessing the potential of stablecoins, the Digital Euro Association argues in a new report. Machine-to-machine (M2M) payment is a field poised for growth, and stablecoins, in particular, offer advantages for it, the report says.There are growing use cases for M2M micropayments in industrial and home or office settings, such as handling charges for shipping containers and other

Frax’s shift to a fully backed stablecoin signals the end of DeFi’s algorithmic experiment

[ad_1] The Frax community recently approved a proposal to make its FEI stablecoin fully backed by USD equivalents, rather than maintaining a partially backed and semi algorithmic stablecoin. With Frax’s decision, the days of experimentation with algorithmic stablecoins could finally be behind us.The decentralized stablecoin space has only proved effective with ETH, USDC and BTC backed stablecoins. The failure of algorithmic stablecoins (like UST) and depegging of overleveraged stablecoins (like