This Week in Crypto: Millionaires, Game Play and Will Exchanges Disappear?

Gala Games' leadership dispute over illicit token acquisition and mismanagement allegations led to a 8% drop in the blockchain's native token value. Meanwhile, Turkey sees increased Bitcoin adoption to hedge against inflation, and experts predict potential replacement of traditional crypto purchases with Bitcoin ETFs on stock markets.

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Turkey sees increased crypto adoption amid troubling inflation: report

Turkey has recorded significant surges in crypto adoption over the past few years as citizens seek ways to fight escalating inflation. Exchange KuCoin’s recent report shows the nation’s crypto adoption rate has increased to 52% from 40% within the past two years.

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UK core inflation surges: A grim report for Bank of England

Quick Take The U. K. Consumer Price Index (CPI) for May came in at 8. 7%, year-over-year (y-o-y) – matching the previous month – but above the forecasted rate of 8. 4%. Core CPI increased to 7.

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The Future of Dogecoin Without Elon Musk as Twitter CEO

Elon Musk's exit from Twitter introduces new uncertainties and possibilities for Dogecoin's future. This article delves into Dogecoin's potential pathways, examining risks like popularity erosion and inflation, opportunities like increased merchant adoption, and wild cards like the launch of DogeChain.

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Market volatility spikes after Powell hints Fed could slow rate hikes amid banking stress

Federal Reserve Chair Jerome Powell said on May 19 that the interest rates may not have to be increased as much as previously estimated to slow down the economy. Powell said that “developments” in the banking sector are resulting in tighter credit conditions which will likely impact economic growth and inflation.

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ECB Announces 7th Consecutive Interest Rate Hike of 25 Basis Points after Eurozone Inflation Climbs 7% in April

Coinspeaker ECB Announces 7th Consecutive Interest Rate Hike of 25 Basis Points after Eurozone Inflation Climbs 7% in April On Thursday, the ECB increased interest rates for the seventh consecutive time, with the latest figure aligning with analysts' predictions.

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Bitcoin tops $26k following US inflation print

Bitcoin, the most popular cryptocurrency, increased in price by 18% in the last 24 hours to surpass $26,000 just after the U.S. CPI report was published.

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Assessing Synthetix’s Q4 2022 performance and what to expect in 2023

Synthetix’s volume decreased in Q4 2022 but its daily active users increased. In fact, SNX’s inflation rate reached 10% on an annualized basis. Messari recently published Synthetix’s [The post Assessing Synthetix’s Q4 2022 performance and what to expect in 2023 appeared first on AMBCrypto.

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Expert is optimistic on crypto after the Fed rate hike, markets turn green

The U.S. Federal Reserve (Fed) chair Jerome Powell announced yet another rate hike to bring inflation down to the 2% mark. This is the eighth consecutive time in less than a year that the Fed has increased the interest rates.…

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What to expect in crypto ahead of inflation report, as Bitcoin banks eight straight days of gains

Key Takeaways Bitcoin has increased for eight straight days, now up 9.2% on the year Period of low volatility in the crypto markets paired with softer inflation data has sent prices upward Latest CPI report is out Thursday which will trigger volatility and is vitally important for the market following increased optimism over last month […] The post What to expect in crypto ahead of inflation report, as Bitcoin banks eight straight days of gains appeared first on CoinJournal.

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Bitcoin Rises After Inflation Numbers Reveal Slowdown

The U.S.Consumer Price Index (CPI) increased by 0.4% from Sep. 2022 to Oct. 2022, as price increases slowed in response to Fed rate hikes. The post Bitcoin Rises After Inflation Numbers Reveal Slowdown appeared first on BeInCrypto.

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Hive Blockchain Bucks The Bearish Trend By Holding $68 Million In Bitcoin

The extreme microeconomic factors, rising inflation, and increased energy cost have impacted the profitability of Bitcoin miners. Amid the ongoing bear market, many Bitcoin miners find it difficult to stay afloat and maintain their operation costs.

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Bitcoin P2P Trading Volume Jumped 40% in the Philippines This Past Year

P2P Bitcoin trading volume in the Philippines has increased by 40% year-over-year. High inflation rates could be behind the trading. The post Bitcoin P2P Trading Volume Jumped 40% in the Philippines This Past Year appeared first on BeInCrypto.

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Ethereum Completes the Merge Upgrade: Has It Affected the Network’s Inflation? 

Ethereum completed a major network upgrade, marking the crypto world’s most ambitious software upgrade to date and paving the way for changes that could fuel increased commercial blockchain usage.

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This is how the crypto market, especially BTC and ETH, reacted amid latest Fed hike

The Federal Reserve increased the interest rate by a further 0.75% and the crypto markets responded bizarrely. The U.S. interest rates are back to pre-pandemic levels as the battle against inflation rThe post This is how the crypto market, especially BTC and ETH, reacted amid latest Fed hike appeared first on AMBCrypto.

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Red Hot Inflation Tumbles Ethereum By 5%

The US consumer price index, a comprehensive indicator of prices for goods and services used in daily life, increased to 9. 1% over the previous year. The traditional and cryptocurrency markets have collapsed as a result of this announcement.

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Proof Of Resilience — Zimbabwe Can Use Bitcoin To Change Its Future

Zimbabwe, currently faced with incredible inflation and tough sanctions, could massively benefit from increased adoption of the open network of Bitcoin.

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First Mover Asia: Bitcoin as Digital Gold and Inflation Hedge. Really? BTC Is Under Water, While the Metal You Can Hold Is Breathing Air; Cryptos Rebound Sunday

A Sunday rally had bitcoin perched back over $20K and ether above $1.1K, but the recent Terra and Celsius debacles have increased investor anxiety about the digital assets' ability to maintain those levels.

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Markets React to Bank of England Warnings

Today, the British pound fell in value as the Bank of England increased interest rates and warned of inflation. The drop took place amid a broader decline in stocks and...

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Federal Reserve Hikes Interest Rates by 0.5%, Biggest Increase Since 2000

The U. S. Federal Reserve has increased interest rates by half a percentage point. The central bank is looking at ways to stymie the effects of inflation. The post Federal Reserve Hikes Interest Rates by 0.

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Bitcoin Spikes and Dips as US Inflation Tops 7.9%, ECB Keeps Rates Unchanged

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“Transitory” U.S. inflation hits 7.5% in January, 40 year high

The United States inflation rate year-over-year, or the Consumer Price Index for All Urban Consumers (CPI-U) to be precise, increased 0. 6% in January on a seasonally adjusted basis, the United States Bureau of Labor Statistics reported today.

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Cardano (ADA) dips below $1 amidst the crypto market crash

The cryptocurrency market was spooked by news that the US Federal Reserve would raise the interest rates. The Fed is holding a meeting on Wednesday to discuss a monetary policy that will aid the US economy as it records increased inflation rates.

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More billionaires turning to crypto on fiat inflation fears

The number of billionaires who have invested in crypto increased last year, and that trend could continue into 2022 as fears over fiat intensify.

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Why is this could be a 'decent time' for Bitcoin investors to take profit

Increased demand from institutional, corporate, and more recently retail investors has powered Bitcoin’s surge this year. Some investors view bitcoin as a hedge against inflation amid enormous monetThe post Why is this could be a 'decent time' for Bitcoin investors to take profit appeared first on AMBCrypto.

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Bitcoin Ready for Record Highs? Don’t Miss the Opportunities with Bexplus’ 100% Deposit Bonus 

Bitcoin resumes its bull run after its plunge in may. In fact, it is one of the most impressive assets, recording a 15% increase in the past week. When the global markets are in a shaky position due to the concern for inflation, increased energy prices and increased covid-19 cases, bitcoin stood out with itsRead More

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Angola Hikes Benchmark Interest Rate as Central Bank Attempts to Tame Rising Inflation

The Angolan central bank’s monetary policy committee (MPC) recently hiked the country’s benchmark interest rate from 15.5% to a record of 20%. The largely unexpected hike, which is one of the National Bank of Angola (NBA)’s attempts to curb inflation, marks the first time the benchmark rate has been increased since November 2017. Rising Inflation […]

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Bitcoin sell-off likely played a key role in boosting gold's appeal

Investors' appetite for gold increased as they assessed higher inflation and a major price crash in the Bitcoin market.

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Here’s how crypto serves as a ‘primary hedge’ against inflation

 Matt Hougan, CIO at Bitwise Asset Management, discussed in a CNBC interview about the use of cryptocurrencies as a hedge against inflation.   Per the latest data released by the Bureau of Labor Statistics yesterday, the consumer price index (CPI), increased by 4.

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Bitcoin Shows Resilience With Swift Recovery From 2020 Bottom

Bitcoin surged by 303% in the past year, breaking past its previous all-time high in Dec 2020. The growth was primarily spurred on by increased demand from the retail and institutional class amid mounting global inflation.

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As Bitcoin Celebrates New Heights, the USD Falls Further Back

As the globe, and specifically, the United States of America, continues to suffer from widespread economic turmoil, general uncertainty, and increased inflation, the USD has taken a sizable hit to its value.

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There are now over 10,000 Bitcoin ATMs in the world

The past few months have been marked by increasing fears of inflation, excessive money printing, and an increased conversation about the role of Bitcoin and gold amidst such a bleak outlook. The post There are now over 10,000 Bitcoin ATMs in the world appeared first on CryptoSlate.

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As Gold Prices Soar, Two Gold-Backed Tokens See Increased Demand Fetching Premiums

The last few months have bolstered the price of the precious metal gold as governments worldwide have created tremendous amounts of debt and inflation. For instance, the value of gold per ounce jumped over $2k during the first week of August.

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Bitcoin Bull Runs as Inflation Jumps

Inflation has seen a big spike with food prices rising 4.5% in June and more than 4% last month in the United States. In China they increased 13.2% last month...

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First Mover: Gold Is Crushing Bitcoin, but Inflation May Bring the Cryptocurrency a Boost

Coin Metrics says bitcoin's correlation with gold has increased in recent weeks.

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Yet Another Tailwind for Bitcoin? US Markets ‘Absolutely’ Not Prepared For Increased Inflation

Last week, Atlanta Federal Reserve Bank President Raphael Bostic said inflation is stable and the US economy is close to full employment which means the Fed will be able to keep the interest rates where they are.

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Bitcoin Trading Volumes Soar in Venezuela and Other Inflation Stricken Countries

Data shows that the volume of BTC transactions on the over-the-counter peer-to-peer marketplace, LocalBitcoins, has increased dramatically in countries suffering from high inflation rates. While the numbers are not quite as high as some of the most popular cryptocurrency markets in some of the larger developed nations like the United States, for example, trading volume […] The post Bitcoin Trading Volumes Soar in Venezuela and Other Inflation Stricken Countries appeared first on BeInCrypto.

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Ethereum Price Analysis - Inflation hits an all-time low

There are over 108. 28 million ETH in circulation, with inflation per annum currently at 4. 49%, which now represents an all-time low. The average block time is currently 13. 27 seconds, which is near the historic record.

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Debunking Bitcoin Myths: "It’s Only for Criminals"

A series of op eds by Kyle Torpey addressing some of the oft-repeated arguments against BitcoinBitcoin’s core value proposition is that it is an uncontrolled, apolitical money.

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Fed Chair Jerome Powell Says Inflation Objective of 2% is Subjective, Crypto Has Store of Value Uses

The chairman of the U. S. Federal Reserve (FED), Jerome Powell, answered some questions regarding regulations, inflation in the US, Bitcoin (BTC) and more. Rep. Warren Davidson from Ohio, started by asking Powell whether he believes regulatory clarity in the space could foster innovation in the cryptocurrency market.

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Is It Time to Take an Initiative to Decrease Bitcoin’s Block Size Seriously?

Whilst debate raged throughout the Bitcoin community over whether the block size limit should be increased and how, Luke-jr for years stood out for arguing the exact opposite position.

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ZCash CEO Looks To Curb Rampant ZEC Inflation (0.1%/Day)

ZCash Community Looking To Slow Crypto Inflation  Cryptocurrencies, like Bitcoin (BTC), Ethereum (ETH), ZCash (ZEC), and their brethren, have long been lauded as a way to curb the inflation of fiat currencies.

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In Turkey, Even the Volatile Bitcoin Looks Pretty Good Compared to the Lira

Trading volumes on Turkish cryptocurrency exchanges increased by 37 percent since October 2018, which shows that Bitcoin’s popularity isn’t affected by the recent drops in the country’s year-long inflation, Slate reported on December 10, 2018.

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Cryptos Gain Adoption Amid Venezuela’s Economic Turmoil

Life in Venezuela is anything but. Last year, the South American nation of 32 million led the world with 652% inflation and this year the economic turmoil is even worse. As of September 2018, the annual inflation was estimated at 200,000% and International Monetary Fund (IMF) said it could spike to a mindboggling 1,000,000% by December.

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