Ether (ETH) price has been unable to close above $1,400 for the past 29 days and it has been trading in a relatively tight $150 range. At the moment, the $1,250 support and the $1,400 resistance seem difficult to break, but two months ago, Ether was trading at $2,000. The current price range for Ether simply reflects how volatile cryptocurrencies can be. From one side, investors are calm as Ether trades 50% above the $880 intraday low on June 18. However, the price is still down 65% year-to-date despite the most exciting upgrade in the network's 7-year history. More importantly, …

The S&P 500 and the Nasdaq Composite fell to a new year-to-date low last week and closed the week with a loss of 1.55% and 3.11% respectively. The scenario changed drastically on Oct. 17 after earnings season ramps up and a sharp policy reversal from UK finance minister Jeremy Hunt added detail to the government's plan to fix his predecessor's (Kwasi Kwarteng) fiscal package which triggered a record fall in the value of the GBP and a near liquidation of pension plans in the United Kingdom. At the time of writing, the Dow is up 1.78%, while the S&P 500 …

Cameron Winklevoss, co-founder of cryptocurrency exchange Gemini, has stepped down from the European company board of directors, according to a Companies House filings from Oct. 12. As indicated in a statement sent to local press, Cameron continues to lead Gemini's global operations alongside his twin brother Tyler Winklevoss: “We can confirm this change was filed with Companies House and brings local leadership onto the board of directors to reflect the growth of Gemini's business in the UK and Europe. Cameron and Tyler Winklevoss continue as President and CEO at Gemini.” As per filings, Gillian Lynch, the head of Gemini in …

Decentralized exchanges (DEXs) first appeared in the cryptocurrency industry in 2014, allowing users to trade a wide number of assets peer-to-peer. However, the first iterations of these platforms could be difficult to use. But, since their inception, developers have worked to make them easier and more accessible for users. Decentralized exchanges work by using smart contracts to fulfill orders placed by traders, allowing users to trade directly with each other instead of relying on a centralized platform. Unlike a centralized exchange (CEX), when traders engage with a DEX, their funds are not stored on the exchange. Instead, users initiate trades …

Nine months into the conflict between Ukraine and Russia, sanctions against the latter have continued to grow at an aggressive pace. This time around, legislators for the European Union announced that they are introducing a complete ban on all cross-border crypto payments between Russia and its citizens. To elaborate, a prohibition of all “crypto-asset wallets, accounts, or custody services, irrespective of the amount of the wallet” has now been initiated by the EU in response to Russia’s continued annexation of Ukrainian land, repeated mobilization of troops within the country and threats of nuclear escalation. It is worth noting that previous …

Binance Pool, a mining subsidiary of Binance, launched a $500 million lending project to support the crypto mining industry. It will provide loans to private blue-chip Bitcoin (BTC) crypto miners. According to the official blog post from Oct. 14, the Binance Pool will provide access to a $500 million loan fund on several conditions, which include an 18-to-24-month term, 5% to 10% interest rates, and some physical or digital assets as a security. The company will look at a wide range of metrics, including current performance, mining power and security quantity, to define the borrower's creditworthiness. Binance Pool will also …

Crypto exchange Binance announced it will launch its first index product, the Top 10 Equal-Weighted Index, to kick off its Binance CoinMarketCap (CMC) Index Series. The Top 10 Equal-Weighted Index will monitor the performance of the industry’s top 10 cryptocurrencies by market capitalization, such as Bitcoin (BTC) and Ethereum (ETH). Binance indices will utilize pricing information from crypto price tracker CMC, of which the crypto exchange is the owner. According to the announcement, the Equal-Weighted Index will be rebalanced monthly and is designed to help investors evaluate price and performance. The index products, beginning with the Top 10 Equal-Weighted Index, …

The founder and CEO of cryptocurrency exchange FTX, Sam Bankman-Fried has backed the idea of knowledge tests and disclosures to protect retail investors but said it shouldn’t just be crypto-specific. Bankman-Fried tweeted his thoughts in response to an idea floated by the Commodities Future Trading Commission (CFTC) commissioner Christy Goldsmith Romero on Oct. 15, saying the establishment of a “household retail investor” category for derivatives trading could give greater consumer protections. Romero said due to crypto, more retail investors are entering the derivatives markets and called for the CFTC to separate these investors from professional and high-net-worth individuals and have …

Despite the turbulence that broke out in the crypto market this summer, there is an important long-term marker that should be considered in any complex assessment — the combination of adoption and regulation. The latest report by EUBlockchain Observatory, named “EU Blockchain Ecosystem Developments,” tries to measure this combination within the European Union, combining the data on each and every member country from Portugal to Slovakia. As the original report counts more than 200 pages, Cointelegraph prepared a summary with the intent to capture the most vital information about the state of crypto and blockchain in Europe. We started from …

The United States consumer price index (CPI) increased 8.2% annually in September, beating economists’ expectations of an 8.1% rise. The CPI print lived up to its hype and caused a sharp, but short-term increase in volatile risk assets. The S&P 500 oscillated inside its widest trading range since 2020 and Bitcoin (BTC) also witnessed a large intraday range of more than $1,323 on Oct. 13. However, Bitcoin still could not shake out of the $18,125 to $20,500 range it has been stuck in for the past several days. Both the U.S. equities markets and Bitcoin tried to extend their recovery …

As crypto traders debate whether Bitcoin (BTC) is going to $25,000 or $15,000 first, the world’s largest financial institutions are laying the groundwork for mass adoption. The proverbial floodgates are unlikely to open before the United States provides a clear regulatory framework for crypto, but regulators and industry insiders are confident that guidance could come in 2023 at the earliest. In the meantime, megabanks like BNY Mellon, whose roots date back to 1784, are entering the space. This week’s Crypto Biz chronicles BNY Mellon’s foray into digital assets, JPMorgan’s ongoing experimentation with blockchain technology and Crypto.com’s new European headquarters. BNY …

Despite the rise of decentralized finance (DeFi), cryptocurrency investors appear to stick to centralized exchanges (CEX) over DeFi tools, according to a new report. Crypto investors are more comfortable with holding their assets on CEXes because decentralized exchanges are still more vulnerable to the threat of hacks. This is according to a joint report by the blockchain data firm Chainalysis and Bitfinex exchange, issued on Oct. 13. According to the study, the risks of hacks associated with CEXes have significantly dropped over the past few years, while various DeFi platforms have become increasingly hacked. The total value stolen from centralized …