Author: Crypto News Live

The debt ceiling negotiations in the United States are keeping traders on the edge. JPMorgan Chase CEO Jamie Dimon told Bloomberg on May 11 that a possible sovereign default by the U.S. government could create panic in the stock markets, resulting in heightened volatility.The next big question troubling crypto investors is how will Bitcoin react to such an event. Bloomberg’s latest Markets Live Pulse survey indicates that Bitcoin (BTC) could be the third-most preferred asset class behind gold and U.S. Treasurys should the U.S. government fail to prevent a debt default.Daily cryptocurrency market performance. Source: Coin360Billionaire fund manager Paul Tudor…

Bitcoin mining data center Soluna Holdings has secured an investment worth $14 million from Navitas Global. The company shares rose 14% to $0.229 following the announcement. Soluna Holdings (SLNH), a Bitcoin [BTC] mining data center, has secured a $14 million investment for project development, the company announced in its press release. Under a new agreement with Navitas Global, Soluna Holdings will receive the aforementioned investment to complete the development of Project Dorothy 1B in Texas. The agreement involves a $2 million loan to finish the 25-megawatt (MW) plant and a $12 million equity investment. Soluna will provide operations and maintenance…

A crypto strategist is outlining what’s in store for a handful of altcoins, including Ethereum (ETH) rival Avalanche (AVAX) and memecoin Pepe (PEPE). Analyst Michaël van de Poppe tells his 657,200 Twitter followers that he’s looking at a quick AVAX bounce either at $14 or $12. However, Van de Poppe says that the bounce will likely be short-lived as he believes AVAX is still in a downtrend. “In a point of interest, which is comparable with other altcoins. However, trend remains to be downwards, if low timeframe gives confirmation, I’d be pulling a long here. Reclaim $16.50 is necessary. Otherwise,…

BTC’s exchange reserve was declining, which indicates less selling pressure.  Its long/short ratio declined while open interest increased, indicating bearish sentiments. The second quarter of this year has not been the best for the crypto market, as most coins like Bitcoin [BTC] failed to register gains. As per CoinMarketCap, BTC was down by nearly 2% in the last 24 hours. Read Bitcoin’s [BTC] Price Prediction 2023-24 At the time of writing, BTC was trading at $27,082.32, with a market capitalization of more than $523 billion. However, there were a few interesting datasets, which suggested that Q2’s last month might look…

Blockchain Neo is joining the KaratDAO ecosystem by becoming a data validator. KaratDAO is a decentralized identity and data network that aims to bridge Web2 and Web3 by leveraging multi-party computation and zero-knowledge proof technology. The KaratDAO team seeks to establish a new Web3 standard called W3Auth, which emulates OAuth. OAuth is an open Web2 standard that provides seamless access to websites or applications via simple identity verification and account authentication. For example, when signing into a new web application, an individual can use their Google account to onboard quickly. Instead of storing user information on a central server, W3Auth…

NFT With millions of albums sold and a sizable global following, heavy metal band Avenged Sevenfold is arguably the largest music act building in the Web3 space today—from launching its own NFT-based club to helping ticketing giant Ticketmaster roll out token-gated ticket sales. Avenged Sevenfold frontman Matt Sanders (a.k.a. M. Shadows), himself an avid NFT collector and CryptoPunks and Bored Ape Yacht Club member, recently joined Decrypt’s gm podcast. He detailed how the long-running band first embraced NFTs and why it continues to build with the tech despite up-and-down hype and a volatile market. Sanders described the push as a…

Lido has launched its V2 deployment. Since ETH withdrawal went live on Lido, it has seen substantial demand for ETH removal in the last 24 hours. Following a 100% approval of its upgrade proposal, leading liquid staking platform Lido [LDO] announced the launch of its V2 deployment on 15 May.  Following a successful on-chain vote, Lido V2 is officially here.https://t.co/36EmuagToD 🏝️ pic.twitter.com/sl4kjNpUYw — Lido (@LidoFinance) May 15, 2023 How much are 1,10,100 LDOs worth today? With the V2 deployment, Lido introduced two key components, with the “most user-facing aspect being Ethereum withdrawals.” According to Lido, in an earlier published press release,…

Apple is scheduled to release its highly-anticipated mixed-reality headset in the coming weeks, a development that some believe could breathe fresh life into the metaverse industry.In January, the native tokens of blockchain-based metaverse projects Decentraland (MANA) and Sandbox (SAND) witnessed significant surges in price, due partly to swirling rumors about Apple’s venture into mixed reality.This trend was pointed out in a May 15 tweet from independent developer Udi Wertheimer, who in a backhanded comment to the absurdity of influencer-driven memecoins, spoke of the upcoming release as a potential driver of metaverse token prices.CT is completely oblivious to the fact that…

Key Takeaways Ethereum’s Layer 2 networks have cumulatively surpassed $5 billion in total value locked. Optimistic Rollup solutions Arbitrum One and Optimism account for over 80% of the locked value. zkSync, which is set to launch its mainnet 2.0 on Friday, has also seen its total value locked increase 19% this week. Share this article Arbitrum currently holds more than half of all the total value locked on Layer 2. Inside Ethereum Layer 2 Ethereum’s Layer 2 ecosystem is on the rise. Per L2Beat data, the total value locked within the top smart contract blockchain’s Layer 2 scaling networks topped $5 billion Wednesday, posting…

Halfway through the second quarter of 2023 and the altcoin market continues to experience bearish sentiment despite Bitcoin’s dominance lacking fuel to push beyond 48 percent. Increased profit-taking in the low-cap meme coins for the past few days has increased the overall altcoin sell pressure. Furthermore, meme coins like Pepe and WOJAK that attracted huge crypto trading volume are down more than 50 percent in the past week.Is Altcoin Season Over?The altcoin season is majorly hyped due to the high volatility compared to Bitcoin, which over the years has experienced diminishing returns. In the third week of May, most altcoins…