Author: Crypto News Live

The correlation dipped below 80% over the week from ATH levels of 97% at the end of 2022. The recent price action of the two coins showed that both have moved on a similar wavelength. Bitcoin’s [BTC] correlation with Ethereum [ETH] dropped to its lowest level since November 2021, indicating a significant divergence in the growth trajectories of the two blue chip cryptocurrencies in the market. Read Bitcoin (BTC) Price Prediction 2023-24 Based on a 40-day rolling window, the correlation dipped below 80% over the week, according to market data provider Kaiko. This was a marked departure from the all-time high (ATH)…

In a world where reality TV and virtual reality collide, ITV Studios and The Virtual Brand Group are adding a new dimension to fan engagement. They have launched “The Voice Studios,” an immersive virtual experience inspired by the globally acclaimed reality show, The Voice.This venture invites fans to embark on their musical journeys akin to the show’s participants, which boasts 148 versions worldwide.Stepping into the Spotlight with ‘The Voice’ Studios“The Voice Studios” isn’t merely a passive experience; it’s a platform for fans to exhibit their creativity. Here, individuals can compose their own music, flaunt their dance moves, participate in Battle…

Blockchain Building blockchain-based applications tends to involve compromise at some point. Companies need to decide what to sacrifice — speed, cost, security and so forth — to achieve their particular priorities. A service may choose to build on a layer-1 blockchain like Solana over Ethereum for speed and cost advantages, but miss out on the network effect advantages of Ethereum. Alternatively, they might select a layer-2 rollup like Arbitrum or Optimism to stay in the Ethereum ecosystem, but give up some of the advantages of existing directly on a layer-1 solution. On a recent episode of the 0xResearch podcast, founder…

NFT Twitter CEO Elon Musk on Wednesday delighted fans of the counterculture non-fungible token (NFT) collection Miladys, when he shared a meme containing the instantly recognizable image of one of the avatar NFTs overlaid with the words, “There is no meme, I love you.” The collection instantly shot to the top trending spot on NFT marketplace OpenSea, with the floor price briefly hitting an all-time high of 7.3 ETH (approximately $13,700), then dipping back down to 5.6 ETH at press time. The collection has seen a 59% increase in floor price over the past seven days. See Also: Miladys NFT…

TL;DRThere’s this theory that crypto will eventually decouple from the traditional financial system.Everyone (ourselves included) has always assumed that Bitcoin would be the first to decouple…but blockchain gaming beat it to the punch! Blockchain gaming has made up a large portion of all on-chain transactions for a while now.The value/trading volume of these gaming related NFTs/tokens have very little to do with the traditional financial system, and everything to do with how fun the game is to play. The more fun the game → the more users play it → the more NFTs/tokens they earn/trade along the way.Full StoryNeed to…

Ethereum’s gas prices declined, while interest in Ethereum NFTs waned as well. ETH’s price remained unaffected despite the beacon chain mishap. Ethereum’s [ETH] high gas prices have always been a subject of discussion in the crypto sector. Over the last few days, due to the hype around memecoins, gas prices on the Ethereum network surged. Realistic or not, here’s ETH market cap in BTC’s terms However, after the memecoin hype died down, gas fees on Ethereum declined. Over the last few days, the average gas price paid by Ethereum users fell from 155.84 ETH to 77.85 ETH. Source: Y charts…

User confidence in adopting USDT for trade has surpassed its competition. There is enough stablecoin purchasing power to buy BTC, but Ethereum’s supremacy blooms.  Tether [USDT] has solidified its position as the most popular stablecoin among cryptocurrency users and traders. Although there were doubts about the sustainability of this group of assets when the TerraUSD [UST], the dollar-pegged stablecoin of the Terra blockchain collapsed, USDT displayed resilience to weather the storm. How much are 1,10,100 USDTs worth today? No rivalry, only command One year after the incident, the third-largest cryptocurrency in market capitalization, added another 20% dominance, Glassnode revealed. Following…

Assassin’s Creed, one of Ubisoft’s most popular gaming franchises, has announced a series of customizable “smart collectibles” featuring digital and physical components.The collectibles are set to drop on May 16 and consist of a transparent 3D-printed cube with a character figure inside and a Polygon-based nonfungible token (NFT) called a “Digital Soul,” which provides proof of ownership. End/ . . . It’s that simple!Our goal is to add new layers of collecting to allow fans to truly showcase their personality and rarity tastes. Digital identifiers pairing with physical identifiers will allow for this ✔️Make sure you get involved with our…

Lawmakers in the European Union have forwarded legislation concerning artificial intelligence (AI) to the next phase after concluding a vote from two lawmakers’ committees.In a vote on May 11, Members of the European Parliament (MEPs) agreed to include banning the use of facial recognition in public spaces and predictive policing tools in the highly anticipated AI Act.MEPs also agreed to impose new transparency measures affecting generative AI tools. The measures proposed in the previous meeting entailed that AI tools must be classified according to their perceived risk level, ranging from low to unacceptable.MEP Kim van Sparrentak called the vote a “milestone” in AI…

Bitcoin (BTC) and most of the crypto market witnessed a move to the downside as the US dollar registered its strongest week in months. The US dollar index (DXY) rose 0.6% on Friday and 1.44% in the past 5 days, according to MarketWatch. The DXY also crossed above its 50-day simple moving average (SMA) after trading below the key technical indicator since March. Bitcoin, meanwhile, dropped 2.42% in the past 24 hours and nearly 10% in the past week. The top-ranked crypto asset by market cap is trading at $26,889 at time of writing. Equities also went down this week,…