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Also Read: XRP, Ethereum Leads Sell Off As Crypto Market Bleeds advertisement Celsius Looks To Dodge Collateral Return As per Celsius ’s Reorganization Plan, it will sell all customers’ altcoin s excluding custody and withhold accounts holdings. It mentioned that the process will start on July 1st, 2023. However, the amount recovered from the altcoin sale will be converted into Bitcoin and Ethereum. This development comes after the bankrupt crypto lender’s announcement of choosing Fahrenheit’s proposal in a bid to handle a new entity that is decided to be owned by its creditors. However, David Adler, Bankruptcy Partner at McCarter & English stated that a segment of borrowers represented by him in the case might file an opposition to this plan. It is expected that Celsius might not return their collateral. Read More Crypto News Here… Recommended Articles ...

Source: MasterSergeant/Adobe The Russian government has said it is exploring the notion of using crypto in trade deals with Iran – but will not be hurried into action. Per RIA Novosti, Moscow wants to put a “clear regulatory framework” into place before allowing Russian firms to do business with Tehran in crypto. The media outlet quoted the Russian Ambassador to Tehran, Alexei Dedov, as stating that officials in Moscow and Tehran were currently “in the working stage” of discussions. Dedov added that nothing had yet been finalized. Dedov said: “Both Russia and Iran are considering allowing the use of digital currencies and digital financial assets (DFAs) in settlements for exports and imports. However, [the parties] are still in the process of reaching specific agreements on this matter.” “DFA” is a term that many Russian lawmakers have used to refer to cryptoassets, including bitcoin (BTC). However, DFA has often ...

Source: AdobeStock / WONG SZE FEI 5,000 merchants and 50,000 users are now participating in India’s CBDC pilot project, the RBI’s deputy governor has said, noting that the central bank intends to proceed with the project slowly to avoid unwanted fallouts. Rabi Sankar, Deputy Governor at Reserve Bank of India (RBI), announced the first milestones of India’s digital currency at a policy press conference on Wednesday, detailing that the country's CBDC pilot now has 50,000 users and 5,000 merchants. Sankar said the RBI wants the project to proceed gradually and cautiously in a bid to avoid taking any actions without fully understanding their potential impact. He said: "We want the process to happen, but we want the process to happen gradually and slowly. We are in no hurry to make something happen so quickly. We have our targets in terms of users, in terms of merchants. We will go slowly." The 50,000 users and 5,000 merchants are currently transacting t...

Bitcoin has been recovering strength and is now trading above the $23,000 mark, after the announcement on Tuesday by US Federal Reserve Chair Jerome Powell that inflation is beginning to decrease. On the other side, Ethereum has recently been able to maintain stability at the $1,650 mark.  Furthermore, the news that Digital Currency Group and Genesis have reached a preliminary deal with their key creditors has been regarded as another important element that has strengthened the market confidence and contributed to bitcoin's rise. However, the market reacted positively to the news and reached a market worth of $1.09 trillion. While Ethereum is up a startling 3 percent and trading at $1,680, Bitcoin is up 1.72 percent and has surpassed the $23,000 barrier. Current Market Scenario The crypto market is flashing green, and expressing confidence, as the US Fed chairman has signaled that the fight against inflation might be over and the disinflationary process has begu...

The cryptocurrency market has been on a roller coaster ride in the past few weeks, with Bitcoin and Ethereum prices fluctuating wildly. As the market continues to be unpredictable, it is important to stay informed of the latest developments in order to make informed decisions.  Recently, whales have moved an estimated $743 million in crypto, which could indicate a potential price surge or crash. In this article, we will discuss what you need to know about this development and how it could affect Bitcoin and Ethereum prices in the future. Whales Move $743 Million in Crypto - Here's What You Need to Know Bitcoin recently hit an all-time high of $23,000 and has been the talk of the crypto world. Attention is also being paid to three large BTC and ETH whales that are turning heads in the crypto trading community. In what can be considered an astonishing event, the whales moved a whopping $743 million in crypto through 3 transactions combined. On Friday, a large inve...

Source: WR.LILI/Adobe Over 300,000 stores and vendors in Changsha, China, now accept digital yuan payment – as the central bank digital currency continues to break new ground in the country. According to province of Hunan’s official newspaper, at the end of 2022, “more than 300,000 digital yuan merchants” now operate in Changsha. The city claimed that “more than 53.25 million” digital yuan transactions have been processed by its residents. In total, transactions worth over $1.2 billion have been processed to date in Changsha. The city is home to just under 8 million people and is Hunan’s capital. It was added to the digital yuan pilot in April 2021 – in the second batch of “pilot” cities, alongside Shanghai, Hainan, Xi’an, Qingdao, and Dalian. The pilot began in earnest in April 2020, with citizens in Shenzhen, Suzhou, Chengdu, and Xiong’an the first to use the coin. The pilot has since expanded ...

Adobe Stock / Bussarin Cryptocurrency markets suffered a major setback in 2022 after experiencing a soaring high in late 2021. Bitcoin plummeted from a record high of $69,044.77 in November 2021 to $16,400 in November 2022, resulting in a decline of over 76% amid the FTX collapse , ongoing bankruptcies, and regulation concerns. With these concerns continuing, is the current rally set to continue, and if so, what are the next big altcoins? Despite market challenges, many people remain hopeful about cryptocurrencies' future as more investors show interest. For example, a recent survey from deVere Group found that 82% of millionaires with assets between £1 million and £5 million (USD $1.23 million to USD $6.16 million) asked for advice on cryptocurrencies during the last 12 months – a telling sign of their growing adoption. The deVere Group's study surveyed 560 individuals of high net worth across the world, including Europe, North America, Asia-Pacif...

The token that powers Ethereum scaling solution Polygon’s sidechain MATIC has been exploding higher. After having been stuck in a $0.92-$1.05 range for the last few weeks, MATIC surged as high as the $1.12s on Thursday, gaining over 13% on the day, though the rally has since eased off a little on Friday, with the cryptocurrency now trading back just to the south of the $1.10 level once again. The latest surge has taken MATIC’s gains to around 44% this year, which marks the cryptocurrency’s best months since it gained 92% last July. The latest surge should open the door for Polygon to be able to test its early November 2022 highs in the $1.30 area in the coming weeks. This resistance level roughly also coincides with the 38.6% Fibonacci retracement back from the 2022 lows under $0.32 to the end of 2021 record highs close to $3.0. A break above here would likely open the door to a push towards the 50% retracement around $1.62 and to the March 2022 hig...

Despite the crypto market downturn in 2022, remarkable developments have continued to be made in the blockchain space, and 2023 looks set to be a big year . What coins are crypto whales buying as we head deeper into 2023? Cryptocurrencies like Bitcoin and Ethereum have taken center stage as leaders of this revolution, but many other projects are driving innovation in many spheres of the economy. A multitude of blockchain investment options exist for traders looking to take positions in the industry, including DeFi and real use cases for Non-fungible tokens (NFTs). To those who are considering investing, the question remains: is this the ideal time to start and if so, what investments should be made? First of all, no one can accurately predict where markets will go next. Therefore it's essential to only invest what you don't mind losing in case of unexpected outcomes. It's critical to protect yourself from frauds by verifying that the projects you'r...

Source: TradingView The XRP price has risen by nearly 5% in the past 24 hours, reaching $0.425152 after a week in which Ripple CEO Brad Garlinghouse predicted that the firm's lawsuit with the SEC will end in 2023. The altcoin's current price represents a 10% gain in a week and a 20% rise in the last 30 days, pushed upwards by the market expectation that the aforementioned case has entered its end phase. Indeed, with all existing briefs having now been filed, its seems that XRP holders (as well as Ripple and the SEC) are mostly waiting for the judge to reach a decision. And assuming that this is a favorable one for Ripple (i.e. one that finds XRP is NOT a security), then XRP could rally massively, surpassing its current all-time high of $3.40 and hitting new heights. XRP Price Prediction as Ripple Lawsuit Set to Conclude in 2023 – Can XRP Reach $10 if Ripple Wins the Case? XRP's chart points to some positive momentum. Its relative strength index (purple) ...

Source: iStock/kali9 Binance, the world’s largest crypto exchange by trading volume, has been identified as a counterparty to the little-known exchange Bitzlato, which is now facing money laundering charges in the US. The controversy surrounding Bitzlato now also involves Binance, after the US Department of the Treasury wrote in an order that Binance was Bitzlato’s top receiving counterparty of bitcoin (BTC) between May 2018 and September 2022. Coming in as the second and third receiving counterparties were Russian dark web market Hydra and TheFiniko, a Russia-based website that has been accused of operating a pyramid scheme. The top sending counterparties were identified as Hydra, peer-to-peer trading platform LocalBitcoins, and TheFiniko. The order claimed that about two-thirds of Bitzlato’s “top receiving and sending counterparties are associated with darknet markets or scams.” It also said that the exchange, which is registered in Ho...

After several days of gains, the cryptocurrency market has witnessed a slight drop today. With a total cap of $1.025 trillion, its total value has descreased by 0.5% in 24 hours, athough it remains up by 15% in a week and by 22% in a month, following the publication of more positive US inflation figures last Thursday. Even though the market hasn't done well overall today, a healthy number of coins have posted significant returns in the past 24 hours, beating averages. This article collects them in a list of the best crypto to buy today, while also including several promising presale tokens for good measure.   Shiba Inu (SHIB) SHIB is currently up by 15% in the past 24 hours, with its price sitting at $0.00001209. This represents a 30% gain in a week, with the meme token also posting a return of 4% in the last 30 days, as anticipation for the Shibarium layer-two network reaches fever pitch. Source: TradingView SHIB's relative strength index (purple) is very c...