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China doles out millions in digital yuan in bid to boost adoption: Report

china : Multiple Chinese city governments have given away millions worth of e-CNY to try to promote consumption around the holiday season. Millions of dollars worth of China’s Central Bank Digital Currency (CBDC) has been handed out across the country over the Lunar New Year period in a bid to boost its takeup. According to a Feb. 6 report in the Global…

BNB Chain on-chain activity bucks bear market downtrend in Q4: Messari

BNB : Average daily addresses on the Binance blockchain network grew by 30% year-on-year in Q4. The Binance-native blockchain BNB Chain has continued to show steady activity growth in the fourth quarter of 2022 despite the broader crypto bear market according to recent research. In a “State of BNB Chain Q4 2022” report published on Feb. 5, Messari researcher James Trautman revealed…

Spanish rehab center adds crypto trading addiction to services list

he rehabilitation center cited estimates that about 1% of cryptocurrency traders will develop an “extreme” addiction to crypto trading. A luxury rehabilitation center in Spain has recently added services aimed at treating a relatively new kind of addiction — crypto trading. The center, called “The Balance,” is a Switzerland-founded wellness center, with its main facility located on the Spanish island…

Why is the crypto market down today?

The crypto market is down today as Bitcoin and stocks correct and investors await Powell’s comments on the size of the next interest rate hike and the health of the US economy. The crypto market is down today, as market volatility increases ahead of the Feb. 1 post-Federal Open Market Committee (FOMC) presser where Fed Chairman Jerome Powell will talk…

Monkey Drainer-linked scammers possibly exposed after an on-chain quarrel

The scammers referred to their pseudonym during a blockchain message argument that may have revealed their actual identity, according to CertiK. Blockchain security firm CertiK believes to it has found the real-life identity of at least one scammers allegedly linked to the “Monkey Drainer” phishing scam. Monkey Drainer is the pseudonym for a phishing scammer who uses smart contracts to steal NFTs…

South Korea to deploy cryptocurrency tracking system in 2023

The “Virtual Currency Tracking System” will be used to monitor transaction history, extract information related to transactions and check the source of funds before and after remittance. The Ministry of Justice in South Korea announced plans to introduce a crypto-tracking system to counter money laundering initiatives and recover funds linked to criminal activities. The “Virtual Currency Tracking System” will be…

Best January since 2013? 5 things to know in Bitcoin this week

Multi-month BTC price highs keep trickling in, but Fed volatility looms as the FOMC coincides with the Bitcoin monthly candle close. Bitcoin  BTC  $23,285  starts a key week with a familiar cocktail of price spikes mixed with fear that the bear market will return. After sealing its highest weekly close in almost six months, BTC/USD remains over 40% up year-to-date, with…

Key takeaways from Circle’s $44.5B USDC reserve report

Circle has released its reserve report for December 2022 highlighting over-collateralized asset holdings currently backing 44.5 billion USDC tokens in circulation. USD Coin (USDC) issuer Circle has released an accountant-verified report of its treasury reserve holdings backing more than $44.5 billion worth of tokens currently in circulation. Circle’s December 2022 reserve report, which was reviewed by GrantThornton accountancy group, breaks…

Bitcoin premium hits 60% in Nigeria as country limits ATM cash withdrawals

The price of one Bitcoin (BTC) in Nigeria has skyrocketed to the equivalent of $38,000 in the local currency, the naira. The price of Bitcoin  BTC  $23,546  in Nigeria has skyrocketed to well above global market levels amid continued efforts by the central bank to push its citizens into digitalized cash. At the time of writing, the price of 1 BTC…

Bitcoin ‘so bullish’ at $23K as analyst reveals new BTC price metrics

Market analyst Cole Garner suggests that Bitcoin bulls are in for a treat amid an ongoing BTC price renaissance. Bitcoin  BTC  $23,030  remains firmly “bullish” at $23,000, according to new on-chain metrics from one of the industry’s best-known names. In a preview on Jan. 28, market cyclist and on-chain analyst Cole Garner revealed what he said were “backtested and validated” Bitcoin trading tools….