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One of the most prominent cryptocurrencies in the world just saw a major uptick in participation. Indeed, Dogecoin has seen its active addresses jump 990% as cryptocurrency exchange Coinbase has unveiled its brand-new plans for DOGE. There has been no shortage of good news surrounding Coinbase this week. Specifically, it saw its landmark entry into the S&P 500 be met with immense optimism around what that could mean for the industry as a whole. Moreover, it has introduced some exciting news regarding a host of cryptocurrencies, including the leading meme coin by market cap. Source: Forbes Also Read: Dogecoin: 3 Things That Can Help DOGE Hit $5 In 2 Years Dogecoin Active Addresses Skyrocket: How Coinbase Is The Reason There are few cryptocurrencies that have penetrated the cultural zeitgeist the way that Dogecoin has. With major personalities like Elon Musk taking a liking to the asset, it has become a key part of the growing industry. Although its utility has always been lacking, i...

Bitcoin is showing renewed strength and targeting yearly highs. Will altcoins follow suit? October is proving to be a solid month for Bitcoin (BTC) as the price is nearing the 2023 high at $31,805. Generally, major resistances are not cleared in the first instance as the bears come out in full force to guard the level. Therefore, a minor dip is to be expected, but that should not be considered as the start of a negative sentiment. Buyers regroup at lower levels and try to form a higher floor. That triggers further buying and starts a rally. This is a possibility in Bitcoin but risks remain. While the cooling of the United States dollar index (DXY) is a positive sign, the weakness in the S&P 500 Index (SPX) is a negative sign. Daily cryptocurrency market performance. Source: Coin360 Another risk to the rising cryptocurrency markets could come from the surging 10-year Treasury yield which once again rose above 5%. The rise in the yields show that the market participants are losing h...

The crypto exchange has applied for a license under the EU’s new Markets in Crypto-Assets with the Central Bank of Ireland and, if successful, will be able to "passport" its services across EU states. The United States-based crypto currency exchange Coinbase is strengthening its presence in Europe and has officially announced Ireland as its chosen main European crypto hub. Coinbase has select ed Ireland as its EU entity location of compliance with Europe’s major crypto currency regulatory framework known as Markets in Crypto-Assets Regulation (MiCA), the firm announced to Cointelegraph on Oct. 19. With MiCA, which is expected to be enforced in late 2024, Coinbase can serve one of the largest economies in the world 450 million people, across 27 countries, under one regulatory framework and with one national supervisor, the firm said in the announcement. Currently, Coinbase holds an e-money institution license and virtual asset service provider (VASP) registration in Ireland,...

According to local media, Nikkei.com, this updated system is specifically applicable to a category of funds known as Investment Business Limited Partnerships (LPS). The Japanese government reportedly plans to permit start-ups to raise public funds through the issuance of crypto , assets, such as currencies, instead of stocks , local media has reported.  According to Japanese financial news site Nikkei.com, this updated system is specifically applicable to a category of funds known as Investment Business Limited Partnerships (LPS). So far, Japan has lagged behind the rest of the world on embracing digital assets. However, this has been changing in recent months. Japan's primary financial regulatory authority, the Financial Services Agency (FSA), made a significant move on August 31, seeking to amend the tax code related to crypto currencies, thereby taking a more active role in crypto currency regulation. The noteworthy move is aimed at exempting local businesses from the year-e...

Bitcoin and altcoin prices continue to slump, but potential progress on the debt ceiling discussion could possibly produce a price reversal. Bitcoin is threatening to break the narrow range to the downside. The cryptocurrency markets seem to be taking cues from the United States equities markets, which have been down for two straight days due to the uncertainty regarding the debt ceiling negotiations.  If the debt ceiling talks stretch further, traders may lighten their positions from risky assets, as a debt default by the U.S. is likely to have huge financial implications around the world. Even cryptocurrencies could witness a sell-off, and analysts have not ruled out a potential fall to $20,000 for Bitcoin (BTC). Daily cryptocurrency market performance. Source: Coin360 Institutional investors maintained their cautious stance in the near term. CoinShares’ “Digital Asset Fund Flows Report” published on May 22 shows an outflow of $32 million, taking the total outflow in the past five w...

The platform was charging investors ‘exorbitant and undisclosed fees’ with one user being charged recurring fees of $51,000 over a span of 13 months, according to the statement. Cryptocurrency trading platform Coin Cafe has been ordered to repay $4.3 million to its users after allegedly charging “exorbitant and undisclosed fees" for storing Bitcoin on the platform — leading to some accounts being drained entirely of its funds. Based in Brooklyn, Coin Cafe initially filed an application for a virtual currency license with the New York State Department of Financial Services in July 2015, however, was only approved in January this year. Despite the seven-and-a-half-year application process, it was allowed to operate throughout but was flagged as putting “investors at risk,” as it didn’t uphold its obligation to register with the Office of the Attorney General for New York – which all New York broker-dealers are required to do so. On May 18, it was revealed that the exchange had been...

The cryptocurrency exchange's DeFi wallet and Pay service launched a new update adding support for more countries and tokens. Singaporean cryptocurrency exchange Crypto.com recently launched an update to its DeFi wallet service enabling support for fiat-to-crypto purchases in more countries and three new tokens.  In a blog post published on May 16, the company announced the addition of Polygon (MATIC), USD Coin (USDC), and Dai (DAI) to Crypto.com Pay, a fiat-to-crypto on-ramp service enabling the purchase of cryptocurrency via credit or debit card. The trio of new tokens joins Bitcoin (BTC), Ether (ETH), and Crypto.com’s native CRO as the only tokens currently available for Pay purchase. CRO can now be purchased in Crypto.com’s Cronus blockchain or the Ethereum network. According to the post, support for more tokens “will be added soon.” Crypto.com also announced Pay support in more countries, expanding the number of countries able to use the service to purchase crypto directl...

The CEO of Independent Reserve says Hong Kong's "friendly" licensing regime makes it a worthy destination to set up shop, but there are other factors to consider. Australia-based crypto exchange Independent Reserve is looking at opportunities to set up shop in Hong Kong, as the city continues efforts to become a cryptocurrency hub.  Set to take effect in June, the Hong Kong Securities and Futures Commission (SFC) released a proposed licensing regime for cryptocurrency exchanges on Feb. 20 in line with its ambitions to become Asia’s next crypto hub. Independent Reserve co-founder and CEO, Adrian Przelozny told Cointelegraph the “friendly” licensing regime makes Hong Kong a worthy destination to set up a new base, something his firm is now strongly considering. “Right now it is looking very interesting [...] The recent announcement by the regulators in Hong Kong does make Hong Kong look like a friendly jurisdiction.” “We see Hong Kong as a good opportunity for Independent ...

The crypto market is taking a walloping, and there are three important reasons why BTC’s $380 billion valuation is a key support for the entire market. Big round numbers always pique the interest of investors and the $1 trillion total crypto market capitalization is no exception. It’s a level that held for 48 days before collapsing on March 9. After a 16-hour negative 8.6% price movement, the indicator fell to $914 billion, its lowest level since Jan.13. Total crypto market cap in USD, 1-day. Source: TradingView Concerns about the stability of the U.S. banking industry, specifically the downfall and subsequent closure of Silvergate Bank (SI) on March 8 and the shut down of Silicon Valley Bank (SVB) on March 10 by The California Department of Financial Protection and Innovation, are among the reasons for breaking below the $1 trillion capitalization support. Silvergate was a critical fiat gateway network for the most important crypto currency exchanges and intermediaries. The Califor...

ETH price struggles to flip $1,700 to support, but key derivatives data show bulls making plans to break through the resistance. The price of Ether (ETH) rallied 16% between Jan. 14 and Jan. 21, peaking at $1,680 before facing a 5.4% rejection. Curiously, the same resistance level resulted in a substantial correction in late August 2022 and again in early November 2022.  Ether/USD price index, 2-day. Source: TradingView From one side, traders are relieved that Ether is trading up 35.5% year-to-date, but the repeated corrections that follow retests of the $1,680 resistance may have weakened investors ' sentiment. Negative newsflow might have limited Ether investors' appetite after troubled cryptocurrency company Digital Currency Group (DCG) faced more legal issues this week. On Jan. 23, a group of Genesis Capital creditors filed a lawsuit alleging violations of federal securities laws. In addition, the plaintiffs allege the lending firm made false and misleading statements thr...

Bitcoin’s chart shows a tug-of-war between bulls and bears, and this is having a slight impact on the upward price action of most altcoins. Risk assets have started the new year on a strong note. The S&P 500 (SPX) and the Nasdaq closed in the positive for the second successive week and also notched their best weekly performance since November.  Bitcoin (BTC) led the recovery in the crypto Markets with a sharp 21% rally last week. That sent the Bitcoin Fear and Greed Index into the neutral territory of 52 on Jan. 15, its highest since April 5, 2022. However, the index has given back its gains and is again back into the Fear zone on Jan. 17. Daily cryptocurrency market performance. Source: Coin360 The strong rally in Bitcoin has divided analysts' opinions. While some expect the rally to be a bull trap, others believe that the up-move could be the start of a new bull market. The confirmation of the same will happen during the next dip. If the cryptocurrencies form a higher low fo...