Tilting Point partners with Polygon Studios, and LootRush raises $12M

SpongeBob and Warhammer mobile game scores Polygon partnership Free-to-play mobile games publisher Tilting Point has entered a multiyear partnership with Polygon Studios to launch 10 Web3 games over the next two years. Polygon Studios and Tilting Point plan to help both native Web3 game developers scale their games alongside free-to-play developer partners, and studios who want to bridge from Web2 to Web3 gaming. The first three titles in the works are interstellar strategy game “Astrokings” from Korean developer AN games, which Tilting Point acquired earlier this year; virtual slot game “The…

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Vector Finance (VTX) TVL hits a record high as the Curve Wars shift to Avalanche

The battle to attract stablecoin liquidity has been a trending theme across the cryptocurrency landscape for the past year, especially as decentralized finance users have come to realize the hefty APY that can be earned on dollar-peg assets. While Curve Finance remains the undisputed leader in interest bearing stablecoin liquidity pools, several new entrants have begun to climb the ranks, including Vector Finance (VTX), a protocol that enables Avalanche network users to generate boosted yields on their stablecoin positions. Data from CoinGecko shows that the price of VTX recently underwent…

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Bitcoin drops to $35.5K as 1,000 point Dow correction marks the worst trading day since 2020

Global financial markets plunged into disarray on May 5 as the Dow Jones saw a 1,063 point drop and Bitcoin (BTC) price plummeted to $35,571 on Binance. The widespread weakness comes as traders have had more time to digest the recent half-point interest rate hike by the Federal Reserve, the largest hike since 2000, which was done in an attempt to corral record high inflation. Data from Cointelegraph Markets Pro and TradingView shows that the midday dump in the price of BTC coincided with a sell-off in the tech sector,…

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El Salvador’s central bank accepts Qredo’s registration to provide crypto services

Decentralized finance firm Qredo has received approval for registration as a Bitcoin (BTC) service provider in El Salvador. In a Wednesday announcement, Qredo said the Central Reserve Bank of El Salvador accepted the crypto firm’s registration as a recognized Bitcoin service provider as laid out in the country’s Bitcoin Law. According to the registration website, Qredo was authorized to custody BTC, provide Bitcoin wallets, process payments and act as a digital asset exchange. HOT OFF THE PRESS#ElSalvador‘s Central Bank has approved Qredo to offer a range of Bitcoin services Qredo…

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Descending channel pattern and weak futures data continue to constrain Ethereum price

Despite bouncing from a 45-day low on April 30, Ether (ETH) price is still stuck in a descending channel and the subsequent 9% gain over the past four days was just enough to get the altcoin to test the pattern’s $2,870 resistance. Ether/USD price at FTX. Source: TradingView Federal Reserve monetary policy continues to be a major influence on crypto prices and this week’s volatility is most likely connected to comments from the FOMC. On May 4, the United States Federal Reserve raised its benchmark overnight interest rate by half…

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CFTC commissioner appoints crypto-experienced CME Group director as chief counsel

Kristin Johnson, one of five commissioners currently serving at the United States Commodity Futures Trading Commission, or CFTC, has announced that a CME Group executive director with experience in crypto will be joining her staff. In a Thursday announcement, Johnson said Bruce Fekrat will be her chief counsel at the CFTC starting on June 1. Fekrat worked as an executive director and associate general counsel at the CME Group for more than eight years, where he was lead regulatory counsel for issues including digital assets. During his time at the…

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Bitcoin price hits 10-week lows as $40K spike becomes ‘nasty bull trap’

Bitcoin (BTC) hit its lowest level in over two months later on May 5 as Wall Street trading saw volatility return with a bang. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView DXY celebrates as stocks, crypto tumble Data from Cointelegraph Markets Pro and TradingView painted an unsettling picture for hodlers as BTC/USD fell to $36,520 on Bitstamp. Capping losses, which totaled 8.3% at one point, Bitcoin only bounced at a price last seen on Feb. 24 this year. As Cointelegraph reported, the performance had come in tandem with mayhem in U.S.…

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Here’s why blue-chip NFT prices continue to soar nearly a week after the Otherside mint

In May 2021 OpenSea closed out nearly $140 million in total volume. Fast forward a year and the most dominant NFT marketplace closed over $880 million in less than a week partially because of the Yuga Labs’ The Otherside mint.  As a result of this mint, a fresh surge of liquidity was injected into the NFT ecosystem and as it stands the current NFT total market capitalization is over $19.4 billion.  NFT market capitalization and volume. Source: NFTgo For the past two weeks most of the market had seen little…

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SkyBridge Capital’s Anthony Scaramucci expects a pro-crypto presidential candidacy

Anthony Scaramucci, the founder of the hedge fund SkyBridge Capital, thinks that the next United States presidential candidacy will likely be pro-cryptocurrency given that the U.S. Securities and Exchange Commission (SEC) recently announced the approval of a fourth Bitcoin  (BTC)futures exchange-traded fund (ETF). During an interview at SALT’s Crypto Bahamas conference, Scaramucci told Cointelegraph that he is bullish on a pro-crypto presidential candidate since the SEC approved Bitcoin futures under the Securities Act of 1933 (‘33 Act) and the Securities Act of 1934 (’34 Act). He added: “The congress is…

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Why Bitcoin Futures And Spot Signals Don’t Match Up

Bitcoin price bounced to the tune of 5% following yesterday’s Federal Reserve meeting. However, the move has almost fully retraced. What’s interesting about the situation, is that traders at one particular platform could have seen this coming a lot more clearly, while others might have suffered a fake out. Here is a closer look at a comparison between BTCUSD spot index price charts and BTC CME Futures that puts a spotlight on the strange discrepancy. We also shed some light on how to possibly take advantage when these instances occur.…

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