Ethereum Rally Bull Trap? Here’s What This Metric Says

Is the latest Ethereum rally a bull trap or the start of a fresh bull market? Here’s what the ETH-taker buy-sell ratio says about it. Ethereum Taker Buy/Sell Ratio Has Fallen Below 1 Recently An analyst in a CryptoQuant post pointed out that the recent sentiment has been bearish according to the metric. The “taker buy-sell ratio” is an indicator that measures the ratio between the taker buy and taker sell volumes in the Ethereum futures market. When the value of this metric is greater than 1, it suggests the “long” or the taker buy volume is higher than the … Read more

U.S. Legislators Introduce Bill That Would Prohibit Creation Of An American CBDC

The bill would effectively put an end to the debate over the creation of a Federal Reserve-issued CBDC. U.S. Congressman Tom Emmer (R-MN) has introduced a bill that would prohibit the Federal Reserve from issuing a CBDC directly to anyone. The bill, titled the “CBDC Anti-Surveillance State Act” details that “Except as specifically authorized under this Act, a Federal Reserve bank may not offer products or services directly to an individual, or maintain an account on behalf of an individual, or issue a central bank digital currency directly to an individual.” It goes on to further detail specifically that “The … Read more

Tencent Cloud signs multiple collaboration agreements with blockchain firms

According to a press release on Feb. 22, Tencent Cloud, the cloud computing branch of Chinese internet giant Tencent, announced that it had concluded multiple agreements with blockchain firms to support the active development of the Web 3.0 ecosystem. Firstly, Tencent Cloud signed a memorandum of cooperation with decentralized blockchain infrastructure provider Ankr to jointly develop a series of blockchain API services for remote procedure call nodes. The new service will be deployed on Tencent Cloud’s infrastructure and will provide connections to mainstream blockchains building on Web 3.0 games and applications.  Secondly, Tencent Cloud said that it reached strategic cooperation … Read more

Bitcoin Soars Over $25K and MEXC (MX) Hits Intra-Year High

Singapore, Singapore, 22nd February, 2023, Chainwire With Bitcoin surging to reach a new 2023 high, MX has been the top performer in exchange tokens, with a 7-day growth of 32%. Bitcoin’s price rising over $25,000 has sparked a frenzy of activity in the cryptocurrency market. With investors flocking to take advantage of the price gains, the trading volume for top exchanges has significantly increased. As one of the leading exchanges, MEXC announced that its futures business made a significant breakthrough,  with an average daily trading volume growth of 1200%.  KEY FACTS BTC was recently trading at about $25,247, rising 16.61% … Read more