Bitcoin (BTC) retained new higher levels at the June 6 Wall Street open after BTC/USD snapped a nine-week losing streak. Stocks could take BTC as high as $37,000 Data from Cointelegraph Markets Pro and TradingView followed the largest cryptocurrency as it circled $31,500 on the back of 6% daily gains. The start of Wall Street trading provided further support to bulls as United States equities headed higher. The S&P 500 traded up 1.4% at the time of writing, while the Nasdaq Composite gained close to 2%. For popular social media analyst Wolf, Bitcoin's correlation to stocks could see further upside …

Cardano (ADA) was among the best performers among the top cryptocurrencies on June 6 as traders assessed a key upgrade that promises to enhance its blockchain's smart contract capabilities. Vasil hard fork FOMO Dubbed "Vasil," the so-called hard fork event will tentatively take place on June 29, 2022. As a result of the euphoria surrounding this upgrade, traders have started speculating more on ADA's upside prospects, resulting in its better performance than other top-ranking digital assets. For instance, ADA's price rose by over 14% to $0.64 on June 6 compared to the 6% gains of its top rival, Ether (ETH), …

Solana-based move-to-earn application STEPN has reported multiple distributed denial-of-service (DDoS) attacks in the aftermath of the platform proceeding with a major anti-cheating upgrade. STEPN took to Twitter on June 5 to report that the platform had suffered a number of DDoS attacks that have caused recovery maintenance and associated improper performance. 1/2 We have been under multiple DDOS attacks in the past hours. Securing the servers and recovery may take anywhere from 1 to 12 hours. We recommend you take some rest during the maintenance or otherwise the work-outs may not be recorded properly. — STEPN | Public Beta Phase …

In her monthly Expert Take column, Selva Ozelli, an international tax attorney and CPA, covers the intersection between emerging technologies and sustainability, and provides the latest developments around taxes, AML/CFT regulations and legal issues affecting crypto and blockchain. In 2021, nonfungible tokens became the biggest disrupter in art, with artists minting, exhibiting and auctioning them and investors buying, selling and trading them. But by May 2022, NFT sales had dropped 92% from the market peak. According to data aggregator Layoffs.fyi, more than 17,000 technology laborers lost their jobs in May. The recent downturn is similar to 2018, when leading cryptocurrencies …

Solana’s (SOL) price dropped on June 3, bringing its net paper losses down to 85% seven months after topping out above $260. SOL price fell by more than 6.5% intraday to $35.68, after failing to rebound with conviction from 10-month lows. Now sitting on a historically significant support level, the SOL/USD pair could see an upside retracement in June, eyeing the $40-$45 area next, up around 25% from its June 4 price. 60% SOL price decline ahead? However, a rebound scenario is far from guaranteed and Solana faces headwinds from trading in lockstep with Bitcoin (BTC), the top cryptocurrency (by …

On Friday, South Korea’s Financial Supervisory Service (FSS) began an investigation into payment gateway services that work with digital assets. The FSS is South Korea’s financial regulator that operates under the Financial Services Commission (FSC), both of which are government institutions. As reported by local news outlet Money Today Co., the FSS had recently demanded reports from 157 payment gateways about any service related to crypto, its plans for the future and disclosure of digital assets. But, an FSS report stated that only six held any digital assets. Related: How Terra’s collapse will impact future stablecoin regulations Although the FSS …

The total crypto market capitalization has ranged from $1.19 trillion to $1.36 trillion for the past 23 days, which is a relatively tight 13% range. During the same time, Bitcoin’s (BTC) 3.5% and Ether’s (ETH) 1.6% gains for the week are far from encouraging. To date, the total crypto market is down 43% in just two months, so investors are unlikely to celebrate even if the descending triangle formation breaks to the upside. Regulation worries continue to weigh investor sentiment, a prime example being Japan’s swift decision to enforce new laws after the Terra USD (UST) — now known as …

Between May 23 and 27, the equities markets had an impressive run, with the tech-heavy NASDAQ (NASDAQ: QQQ) ETF up over 7% and the S&P 500 (NYSE: SPY) up over 6.50%. However, this week' whipsaws in price action occurred throughout the week and while the J trade session is not yet over, the weekly candlesticks suggest a close near last week’s open. Currently, all major indexes face significant technical resistance levels above their present traded levels. Throw in thegrowing economic uncertainty and fears of a recession; the bounce may be limited. Cryptocurrencies down again The crypto market may close relatively …

May 2022 was not for the faint-hearted. Even the most embattled and experienced crypto traders were tested in the first two weeks of the month on a brutal drop following the United States Federal Reserve’s announcement that interest rates would be rising by 0.5%. Crypto used to exhibit a lower correlation with real-world events and was generally unaffected by capitalistic successes and failures. However, a very steady approximate peg between Bitcoin (BTC) and the S&P 500 index was seen throughout the first five months of 2022. Inflation and war fears have not been kind to both markets either. Crypto mimicking …

Terra remained the focus of the majority of headlines throughout May for its spiral collapse leading to a loss of over $40 billion in investors’ money. Despite some early resistance from the community and heavy backlash from the likes of Binance CEO Changpeng “CZ” Zhao, Terra co-founder Do Kwon managed to relaunch the collapsed network with a new chain called Terra 2.0 (Phoenix-1). The amended proposal for the relaunch of the network by increasing the genesis liquidity, which introduces a new liquidity profile for pre-attack Luna Classic (LUNC) holders and decreases the distribution to post-attack TerraUSD Classic (USTC) holders, was …

Japan is moving forward with legislation regarding the issuance of stablecoins, i.e., digital assets with their value pegged to fiat currencies or stabilized by an algorithm. On Friday, Japan’s parliament passed a bill to ban stablecoin issuance by non-banking institutions, local news agency Nikkei reported. The bill reportedly stipulates that the issuance of stablecoins is limited to licensed banks, registered money transfer agents and trust companies in Japan. The new legislation also introduces a registration system for financial institutions to issue such digital assets and provides measures against money laundering. According to the report, the bill aims to protect investors …

In a May 30 tweet, Ethereum (ETH) core developer Tim Beiko confirmed that the much-anticipated Ropsten testnet trial of the Merge from proof-of-work to proof-of-stake can be expected “around June 8 or so.” Interestingly, Ether's price action is relatively unchanged despite the unexpected bullish announcement. There was a +10% spike on May 30, but those gains were given back between May 31 and June 2. It is very likely that the Merge — currently anticipated in August — has yet to be priced in, giving traders and investors a possible early entrant advantage. It’s essential to monitor on-chain data From …