Good morning, and welcome to Protocol Fintech. This Tuesday: Otherside’s downside, Robinhood vs. Munger, and Wikimedia drops crypto. Off the chain How long will crypto’s gravy train for consumers last? Crypto.com is cutting back its crypto-linked card rewards and eliminating staking rewards. Its native CRO token tumbled as a result. A marketing land grab means big handouts in the name of customer acquisition: That’s not new to crypto. What is new is how quickly those may disappear this… Source link

BTC continued to trade below $40,000 prior to Wednesday’s FOMC meeting, as crypto markets anticipated a potential rate hike. ETH was also trading close to its long-term support level, with many hoping for an end to current bearish sentiment, after tomorrow’s announcement. Bitcoin BTC was trading below $40,000 on Tuesday, as the world’s largest cryptocurrency was marginally above its long-term price floor. Earlier today, BTC/USD fell to an intraday low of $38,156.56, which is… Source link

Marco Bello/Getty Images News What Is The Current Situation With Bitcoin? Bitcoin (BTC-USD) has traded in a range for the past few months, but in the crypto world, you’re never far removed from some excitement. For one, Miami Beach hosted the Bitcoin 2022 conference in April. With over 25,000 people attending in person, the conference was more than twice the size of last year–featuring a 1.5-ton bull sculpture, a Steve Aoki concert, and people selling yacht timeshares. Data by YCharts

Fidelity plans to add bitcoin to its 401(k) options. Fidelity says it’s responding to high interest in digital assets. But critics say investing retirement funds in bitcoin is too risky. Bitcoin is down more than 16% this year, but that hasn’t dampened enthusiasm for the asset. That’s why Fidelity Investments is launching a bitcoin option for its 401(k) plans, but investors may still want to think long and hard about whether it’s for them.  The nation’s largest plan administrator said… Source link

At this point, I am still bearish, but I also recognize that we are in an area where we could see short-term recovery in Litecoin. Litecoin fell a bit on Monday to pierce the $100 level. However, we have recovered a bit to form a bit of a hammer, so it is like likely that we will continue to bounce around in this area. That being said, if you remember, I had mentioned a couple of weeks ago that we kept making lower highs, and that does suggest that we could very well break down through all of… Source link

Text size Macro headwinds could make it tougher for Bitcoin and other cryptos. Dreamstime A bear market has… Source link

Image source: Getty Images Bored Ape Yacht Club (BAYC) crashes Ethereum in Otherside mint. Will ApeCoin (APE) find a new home? Key points BAYC made history in multiple ways with the first Otherside NFT mint, and it could have big impacts on the future of Ethereum and ApeCoin. With Ethereum… Source link

Data from blockchain analysis firm Santiment indicates that ETH whales have been accumulating over the past two weeks. They have broken out of a sustained ownership downtrend since the start of the year, and are now back to owning over 12% of the supply. ETH whales, in this context, are defined as addresses holding between 1000 and 10,000 ETH. That’s between about $3 million and $30 million worth of ETH, at current prices. As of Thursday, whale ownership sat at 12.07% of… Source link

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Monero (XMR) gets a neutral rating from InvestorsObserver Monday. The coin is down 2.66% to $207.11 while the broader crypto market is down 0.42%. Monero has a Neutral sentiment reading. Find out what this means for you and get the rest of the rankings on Monero! Neutral Over the last five days, Monero has earned a Neutral rating on the InvestorsObserver Sentiment Score. The Sentiment Score measures the performance of Monero over… Source link