Bitcoin (BTC) has shrugged off the weakness in the United States equities markets and is attempting to start a recovery on Nov. 30. Buyers are attempting to achieve a monthly close above $17,000. This suggests that the selling that had picked up due to the FTX crisis may be reducing. Usually, smaller investors panic and dump their holdings in a bear market but it has been the opposite with Bitcoin investors. According to Glassnode data released on Nov. 27, investors holding less than one Bitcoin, also called shrimps, bought 96,200 Bitcoin since the FTX crash. Along similar lines, investors holding …

On Nov. 29, Crypto Twitter users posted screenshots of help pages on the Coinbase app, saying that the wallet would no longer support Bitcoin Cash (BCH), XRP (XRP), Ethereum Classic (ETC), and Stellar (XLM) as well as their networks. The crypto firm cited "low usage" of the four tokens in its decision to stop support starting on Dec. 5. "This does not mean your assets will be lost," said the announcement. "Any unsupported asset that you hold will still be tied to your address(es) and accessible through your Coinbase Wallet recovery phrase." oof pic.twitter.com/oazKOspuTK — Jameson Lopp (@lopp) November 29, …

China witnessed a spike in Covid cases and that has resulted in strict lockdown restrictions in several parts of the country. This triggered widespread protests in China and has possibly pulled the global stock markets lower. In addition to the turmoil in China, the cryptocurrency markets, which are already in a bear grip, are reeling under pressure from the Chapter 11 bankruptcy filing by BlockFi and its subsidiaries. Bitcoin (BTC) is down 21% in November, on track to its worst November performance since 2018. The sharp fall in Bitcoin’s price has drastically reduced the number of wallets holding more than …

FTX’s collapse dealt a major blow to the already fragile sentiment among cryptocurrency investors. Although a quick recovery is unlikely, Blockchain analysis firm Chainalysis said that the crypto universe could emerge stronger from this crisis. Chainalysis’ research lead Eric Jardine arrived at the conclusion after comparing FTX’s fall to that of Mt. Gox. Another calming statement came from Bloomberg Intelligence exchange-traded fund analyst James Seyffart, who said that there was a “99.9% chance” that the Grayscale Bitcoin Trust (GBTC) held the Bitcoin (BTC) it claimed. He added that GBTC was “unlikely” to be liquidated. The negative events of the past …

Continued selling in the cryptocurrency markets pulled the total market capitalization below $800 billion on Nov. 21. Traders are increasingly nervous about the extent of damage FTX’s collapse may have on several crypto firms. Until the uncertainty clears, it is futile to expect a sustained recovery in cryptocurrency prices. The FTX saga has broken the close correlation between the United States equities markets and Bitcoin (BTC). While Bitcoin is trading close to its 52-week low, the S&P 500 (SPX) has recovered sharply from its low made on Oct. 13. The U.S. dollar index (DXY) is usually inversely correlated to Bitcoin …

The sentiment across the cryptocurrency ecosystem remains fragile as market participants assess the impact of the FTX crisis on various businesses within and outside of the crypto sector. Trading firm QCP Capital said in its latest circular on Telegram that crypto assets may continue their underperformance till the new year. QCP projects Bitcoin (BTC) to plunge to $12,000 and Ether (ETH) to $800. Looking at the brighter side, FTX could be the last major player to bite the dust during the current bear market cycle, according to CK Zheng, co-founder of crypto hedge fund ZX Squared Capital. Zheng also added …

The collapse of FTX cryptocurrency exchange has created a liquidity crisis in the crypto space, which could extend the crypto winter through the end of 2023, according to a research report by Coinbase. According to analysts, the FTX implosion could keep the institutional investors at bay because they are even more likely to tread cautiously for some time. The crisis has negatively impacted several crypto-focused companies who have assets stuck on FTX following the company's bankruptcy filing on Nov. 11. Investors also fear the contagion could spread, causing further damage to the cryptocurrency ecosystem. Although several investors were rattled by …

Fintech firm Ripple is garnering more support from the crypto and finance industry in its ongoing battle with the United States Securities and Exchange Commission (SEC). On Nov. 4, Ripple chief executive Brad Garlinghouse proudly tweeted that the number of companies, developers, exchanges, associations, and investors officially supporting the firm has reached 12. The pile of amicus briefs being filed is mounting up according to Ripple Labs general counsel Stuart Alderoty. An amicus brief is a legal document filed in appeals cases to aid the court by providing extra relevant information or arguments. These briefs are filed by amicus curiae, …

NFT marketplace says no to optional royalties While nonfungible token (NFT) marketplaces such as Ethereum (ETH)-based X2Y2, LooksRare, and Solana (SOL)-based Magic Eden have made the switch over to “optional” creator royalties, a newly launched marketplace is taking a hard stand against it. Find Satoshi Lab, the company behind the popular move-to-earn app StepN has launched its new NFT marketplace named MOOAR on Nov. 1, notably featuring “no optional royalties.” Instead, its NFT royalty policy will be set to a default of 2% but allows creators to set royalties between 0.5% to 10%. There is no option for 0% royalties, …

United States-based crypto advocacy group Blockchain Association has come out in support of Ripple Labs amid its ongoing legal battle with the Securities and Exchange Commission (SEC), claiming the case could be very important for the future of the crypto industry. In an Oct. 28 post, the advocacy group announced it will "stand" with the American crypto economy by filing an amicus brief, also known as "friend of the court" in the SEC enforcement action against Ripple. Nearly two years ago, the SEC announced they were suing Ripple (XRP), former CEO Christian Larsen, and current CEO Brad Garlinghouse in Dec. …

Ripple Lab’s XRP token holdings have dropped below 50% of the total circulating supply for the first time in the company’s history. Ripple has faced criticism in the past by some that have raised questions over the firm’s significantly large ownership of XRP tokens, arguing that it gives the company centralized control over its XRP Ledger (XRPL). In a Q3 report published on Oct. 27, Ripple once again refuted that criticism, while also pointing out that its XRP holdings continue to decline, falling below 50 billion tokens, or 50% of the total supply. “Critics have pointed to the company’s XRP …

Ripple Labs’ director of engineering Nik Bougalis is exiting the firm after nearly 10 years, becoming the latest of crypto's long-time serving executives to depart from the space. In an Oct. 22 tweet, Bougalis noted that: “my decade-long journey at Ripplehas been a fantastic (if exhausting and all-consuming) one. I got to work on a project that I love, towards a goal I believe in. But that journey will be coming to an end in a few weeks.” “All good things…” My decade-long journey at @Ripple has been a fantastic (if exhausting and all-consuming) one. I got to work on …