The Crypto Fear and Greed Index has dipped to levels not seen since April 2020, indicating that traders are nervous about Tesla backtracking on accepting Bitcoin (BTC) payments, Bitcoin's multi-week technical weakness and U.S. regulator's supposed investigation into the business operations of Binance exchange. This nervousness also led to a massive inflow of 30,000 Bitcoin to the exchanges, the highest number since the March 2020 crash. This suggests some traders are booking profits on their long positions. CryptoQuant CEO Ki Young Ju said that whales have continued to send more coins to exchanges than usual, implying that near-term bearishness may …

The founder of one of the first physical cryptocurrency exchanges has slammed what he perceives as hypocrisy on the part of Elon Musk after the Tesla CEO announced the electric car firm would stop accepting Bitcoin (BTC) as a form of payment. The charges of hypocrisy leveled at Musk stem from the fact that around $1.5 billion worth of Bitcoin remains on Tesla’s balance sheet. Musk criticized Bitcoin’s energy consumption in a recent tweet where he announced that Tesla had suspended vehicle purchases using Bitcoin. The sudden reversal by Musk comes just six weeks after Tesla made big news by …

Elon Musk’s latest foray into crypto markets came a few hours ago when he tweeted he is working with the Dogecoin developers to improve the cryptocurrency’s efficiency. “Working with Doge devs to improve system transaction efficiency. Potentially promising.” According to CoinGecko, the price climbed 26% from $0.38 this morning to $0.48 at the time of writing. The tweet’s reference to “efficiency” seemed to lend weight to the idea Tesla may add Dogecoin (DOGE) as a form of payment after the CEO noted on Thursday the firm is looking at greener cryptocurrencies that use less than 1% of Bitcoin’s energy per …

The first-quarter 2021 revenue of leading United States-based crypto exchange Coinbase more than tripled its Q4 2020 performance. According to documents filed with the U.S. Securities and Exchange Commission, Coinbase generated earnings of $3.05 per share and total revenues of $1.8 billion. However, the firm fell slightly short of its expected $3.07 per share. By contrast, the company generated $585 million in revenue amid Bitcoin’s (BTC) rally into new all-time highs during the fourth quarter of 2020 and just $191 million in Q1 a year ago. Approximately 94% of the firm’s quarterly net revenue came from crypto asset trading fees. …

Tesla CEO Elon Musk tweeted on May 13 that the company will stop accepting Bitcoin (BTC) payments for its vehicle purchases, citing “rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal.” Shortly after the announcement, Bitcoin price dropped by 17% to hit a new local low at $46,000. While Musk’s decision is a short-term blow to the sentiment of the market, it is unlikely to change the course of the crypto markets altogether because the institutional demand for cryptocurrencies remains high. Proof of this came yesterday as Cowen Inc., a 103-year-old bank, announced that it had …

There’s more to crypto than Elon Musk’s frequent (and frequently misguided) tweets on the subjects of Bitcoin (BTC) and Dogecoin (DOGE). And although the brilliantly visionary CEO/Securities and Exchange Commission-baiting meme king may have positioned himself as a news cycle unto himself, crypto news has the power to influence major price action across the altcoin markets — particularly if you can be the first to react to it. Rumors and news are the true tectonic forces behind the cryptocurrency market’s dynamics. Extensive research by the Cointelegraph Markets Pro data team suggests that three types of announcements — listings, staking and …

A Dogecoin (DOGE)-focused division of publicly traded over-the-counter software firm AppSwarm is looking to bring together global development teams to build off of the Dogecoin blockchain. DogeLabs — a newly launched division of AppSwarm’s blockchain research lab, TulsaLabs — announced Wednesday a new initiative calling on DevOps teams to unite their efforts in building a “sort of decentralized network” of DOGE developers across the globe. “These teams would share ideas and provide support for Doge based applications for both commercial and possible larger enterprises within their local jurisdictions under the DogeLabs network,” DogeLabs said in the announcement. “For now it …

Dogecoin (DOGE) has often been seen as a joke coin, or an asset for TikTok speculators to gamble on, but now you can buy entire luxury apartments in Lisbon, Portugal with the currency. #fntx #btc #doge #cardano #ada #dogecoin #355outubro #portugal #lisboa #portugalrealestate pic.twitter.com/uiPuTnOA55 — FNTX Suisse (@FNTX_Suisse) May 11, 2021 Zug-based crypto payments and OTC liquidity provider FNTX Capital Suisse has partnered with Portugal-based property developer 355 Developments to offer condos for crypto in the capital. The partnership will enable buyers to purchase apartments with Dogecoin, Bitcoin (BTC), Ether (ETH) and Cardano (ADA) via FNTX’s “Real Estate Exchange,” which …

On May 13, Elon Musk sent shockwaves across the crypto markets by revealing that Tesla will no longer accept any BTC payments for cars until Bitcoin mining becomes more environmentally sustainable. Musk notes that while Tesla waits for Bitcoin to move to renewable energy, the firm will be looking at “other cryptocurrencies” that use less than 1% of Bitcoin’s energy per transaction. Tesla & Bitcoin pic.twitter.com/YSswJmVZhP — Elon Musk (@elonmusk) May 12, 2021 The tweet sent much of the crypto community into a frenzy of speculation as to what other crypto assets Tesla may be exploring. Social influencer “The Cryptic …

The cryptocurrency market corrected sharply on May 12 after the hype surrounding dog-themed tokens was deflated when Ethereum co-founder Vitalik Buterin dumped vast amounts of the previously hot Shiba Inu (SHIB), Dogelon Mars (ELON) and Akita Inu (AKITA) on the market and donated the proceeds to charity. Data from Cointelegraph Markets and TradingView shows that as meme tokens sold off, Bitcoin (BTC) price continued its recent weakness and declined nearly 8% decline to $53,500 before recovering to $54,700. Ether (ETH) was less affected by the sell-off and actually managed to recover above $4,000 to reclaim its daily losses as users …

The dog-themed race up the cryptocurrency charts came to an abrupt halt on May 12 as a majority of the previously hot meme tokens including Shiba Inu (SHIB) and Dogelon Mars (ELON) saw their prices drop more than 40% with Ethereum (ETH) co-founder Vitalik Buterin emerging as the main culprit behind the selloff. Data from Cointelegraph Markets and TradingView shows that the price of SHIB has fallen 40% and now trades near $0.00002 while the price of Akita Inu (AKITA) has declined 50% and ELON has collapsed by 90%. A number of observant crypto pundits noticed large movements coming from …

A senior manager at banking giant Goldman Sachs in London has reportedly left the company after making a fortune on meme-based cryptocurrency Dogecoin (DOGE). Aziz McMahon, a former managing director and head of emerging market sales at Goldman Sachs, had resigned from the investment bank allegedly after netting major gains from his DOGE holdings, The Guardian reported on Tuesday. Though reports did not specify exactly how much money McMahon made from his Dogecoin holdings, sources claimed that it was a substantial sum, pointing out that DOGE rallied over 1,000% in value this year. According to sources, the finance veteran was …