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Clients of one of the banks facilitating fiat operations with Binance will not be able to trade crypto through SWIFT transfers of less than $100,000. The transaction minimum, aimed at reducing exposure to digital assets, will be introduced by the financial institution in February. Bank Working With Binance Sets $100,000 Transaction Minimum for Crypto Traders A bank serving some clients of the world’s largest cryptocurrency exchange, Binance, will only process customer transactions exceeding $100,000, starting from the first day of February. The new minimum will be imposed as part of the lender’s decision to limit its exposure to digital-asset markets. “One of our fiat banking partners, Signature Bank, has advised that it will no longer support any of its crypto exchange customers with buying and selling amounts of less than $100,000 as of February 1, 2023. This is the case for all of their crypto exchange clients,” Binance said in a statement shared with Bloomberg on Saturday, elabo...

Join Our Telegram channel to stay up to date on breaking news coverage While the NFT space was suffering from the brunt of the bear market, there was one platform that, to this day, continues to make gains for NFT flippers. NFT Signals, the NFT signals service provider, has gone through a major overall. The platform that has made close to $1 billion profit for its users has rebranded itself and calls itself the Ultimate NFT Alpha Group – and looking at this platform’s performance, we agree. NFT Signals was released a little over a year ago, but it was only five months before today that the platform took a stride. As NFT flippers started to rake in the moolah even during sub-optimal markets, people started to take notice, and now, the platform has amassed over $950 million in profits overall. Reports show that NFT signals have delivered a 42% return on investment for the devs, and the platform has a success rate of 93%. NFT signals have also established partnership...

Shiba Inu jumped 37% in the last 14 days after the CPI data-induced rally showing inflation dropping to 6.5% from 7.1%. SHIB was trading with five ‘zeroes’ in early January and quickly deleted a ‘zero’ as its price spiked. The dog-themed token was at $0.000008 on Jan 1 and is now at $0.00001 on Friday. However, despite the 37% jump, data from IntoTheBlock show that the majority of SHIB holders are currently facing losses. The recent price jump did not turn investors’ portfolios to the green but remained in the red for six months. Also Read: Exclusive: ‘Here’s What I’ll Do When Shiba Inu Reaches $0.01′ How Many Shiba Inu Holders Are In Profit? Source: Unsplash According to recent data published by IntoTheBlock, only 35% of Shiba Inu investors are taking profits in January 2023. The majority of investors comprising 55% of the 1.2 million holders are currently underwater after investing in SHIB. Diving further deep into th...

Some BTC miners have declared bankruptcy or sought financial aid to stay afloat. Others are finding unique ways to grow amid the bear market. Bitcoin (BTC) miner CleanSpark is expanding operations in the state of Georgia, adding to its mining capacity despite the ongoing bear market.  Groundbreaking on a new 50-megawatt Bitcoin Mining facility in Washington, Georgia, is underway, with expected completion in late spring, CleanSpark disclosed on Jan. 19. The nearly $16 million expansion is expected to increase the company’s hashrate by 2.2 exahashes per second, with total hashrate reaching as high as 8.7 EH/s. The expanded facility will host up to 16,000 miners, including newly added Antminer S19j Pro and Antminer S19 XP models. Expansion alert: $CLSK has broken ground on phase 2 of our #WashingtonGA # Bitcoin Mining site! It will hold up to 16,000 miner s. With projected completion of the 50 MW in late spring, we expect our #hashrate to reach as high as 8.7 EH/s. More: https://t.co/q...

Source: TradingView The KAVA price has risen to $1.03 today, representing a 9% jump in the past 24 hours, as the wider cryptocurrency market suffers its first notable drop in over a week. KAVA's current price also represents a 38% gain in seven days and 52% jump in the last 30, with the layer-one coin surging mostly because of yesterday's announement that Coinbase will be listing it. Yet Kava is also witnessing considerable organic growth as a smart contract platform, with more protocols developing on it with each passing week. As such, the combination of new listings and adoption could make KAVA one of the best-performing altcoins of the next few months, if not of 2023. Kava Price is 9% Higher at $1.03 Despite Red Day for Most Coins - Good Time to Buy? If you look at KAVA's chart, you'll quite easily noticeable a very pronounced jump at around 6pm yesterday, roughly the time it was announced that Coinbase is listing the altcoin. Source: TradingView ...

The crypto currency industry has been subject to increased criticism for its energy consumption. This isn’t limited to crypto currency mining alone, as transactions related to the industry also get their fair share of backlash. While several have been coming up with sustainable ways to employ crypto currency, it doesn’t seem quite enough. As Bitcoin [BTC] continues to leave behind high carbon footprints, Dogecoin [DOGE] was turning a new leaf in this arena. Recent research from Forex Suggest revealed that Dogecoin ’s carbon emissions dipped by 25% in one year. The asset released 1.423 tons of emissions back in 2021. This dropped to 1,063 tons in 2022. Source Additionally, Polygon [MATIC] and Bitcoin Cash [BCH] were right behind Bitcoin in terms of high carbon emissions. While BTC uses 1,183.58 kWh per transaction, Polygon and Bitcoin Cash use 90.18 kWh and 18.96 kWh respectively. Dogecoin , on the other hand, employs only 0.12 kWh. Ethereum [ETH], followin...

The crypto industry crumbled in several ways throughout 2022. Many expected the market to carry this notion into 2023, however, recovery was on the cards. As Bitcoin [BTC] rose beyond $21K, altcoins followed suit. Today, however, Shiba Inu [SHIB] was leading the rally. The meme crypto surged by 19% over the last 24 hours. This rally was linked to various factors ranging from Shibarium to its entry into the South Korean market. Earlier today, the largest South Korean exchange, Upbit announced the listing of Shiba Inu and Gala [ GALA ]. However, fiat transactions supporting Shiba Inu will be allowed through this listing. In addition to this, GALA’s Bitcoin transactions will be permitted. Another thing to be noted is that Shiba Inu and Gala deposits will be supported only by the ERC-20 network. The exchange will not allow BNBChain deposits. In addition, Shiba Inu and Gala are subject to buy and sell restrictions as they are newly listed assets. According to Upbit...

Disclaimer: The Industry Talk section Features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com For the past few months, cryptocurrency prices have relatively gone in the inverse direction to the U.S. dollar. And as inflation begins to ease, the U.S. Dollar Index (DXY) has also seen losses. Here’s why coin prices are benefiting from this reversal and what investors might expect.  Fed Monetary Policy Affects Dollar Index At press time, the U.S. Dollar Index currently stands at 102.31. The Index is experiencing a downtrend of 0.23% in the past 24 hours, further continuing the greenback’s slide against other major currencies. Already, the Japanese yen is looking especially attractive to investors, with the currency hitting a seven-month high against the greenback.  The drop in the dollar value is coming as investors’ risk appetite starts to grow once more. All through 2022, inflation was the bi...

Source: AdobeStock / Andrea Izzotti Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __________ Politics news US House Republicans will establish a new subcommittee dedicated to cryptocurrency, according to Politico. The subcommittee on digital assets, financial technology, and inclusion will be chaired by Representative French Hill. Incoming Financial Services Chair Patrick McHenry said in an interview that he plans to create the panel because he believes there is “a big hole in how we structure the committee” as it spends more time grappling with crypto topics. Stablecoin news The Central Bank of Iran is working with Russia to create a “token of the Persian Gulf region,” Vedomosti reported, citing Alexander Brazhnikov, executive director of the Russian Association of Crypto Industry and Blockchain (RACIB). This new stablec...

India’s central bank has reiterated its stance on banning cryptocurrencies like bitcoin and ether. The governor of the Reserve Bank of India (RBI) likened cryptocurrency trading to gambling. He warned that crypto “will undermine the authority of the RBI and lead to the dollarization of the economy.” RBI’s Governor Wants Crypto Banned The governor of India’s central bank, the Reserve Bank of India (RBI), Shaktikanta Das, emphasized the bank’s stance on crypto at the Business Today Banking and Economy Summit Friday. Das stressed that the central bank’s view is to completely ban cryptocurrencies like bitcoin and ether, India Today reported, quoting him as saying: “RBI’s position on crypto is very clear — it should be banned.” Emphasizing that cryptocurrencies have no underlying value, the Indian central bank governor described: Some people call cryptocurrency an asset, some call it a financial product, but every asset or fina...

Join Our Telegram channel to stay up to date on breaking news coverage At the time of writing, Cardano price is trading at $0.3548 after gaining 7.37% in the last 24 hours. The coin is recording a 24-hour trading volume of $664.5 and a live market cap of $12 billion, putting the ADA token at #8 on CoinMarketCap list . Cardano Price As Developers Focus On Technological Innovation Cardano (ADA) developers have remained committed to technological innovation despite the tumultuous crypto market. The latest news about the network is the smart contracts written in the Python programming language. The news introduces the first Cardano smart contract written using an innovative Pythonic programming language dubbed Eopsin. According to the developer team, Imperator Lang, the smart contract has to be “compiled and deployed” on the pre-production testnet. The first Cardano Smart contract written in eopsin/Python ✅ compiled ✅ deployed on preprod testnet.https://...

Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin, the world’s first cryptocurrency and still its largest by market capitalization, continued to push higher on Friday. BTC/USD was last changing hands in the $19,100s, up a further 1.5% on the day, taking its weekly gains to nearly 12%. That means the cryptocurrency is on course to post its best weekly gain since pumping 13.5% in one week back in March 2022. Bitcoin’s latest rally has seen it jump to the north of key resistance in the low $18,000s and come within a few percent of testing its 200-Day Moving Average near $19,500. The last time Bitcoin tested its 200DMA was also in March 2022. Back then, the 200DMA proved an important local top. Bulls will be hoping that is not the case again and, with prices recovering from a much lower base this time, near-term price predictions remain bullish. Falling Inflation Contributes to Bitcoin Pump Bitcoin’s latest surge comes despite further evidence that th...

Solana rallied pretty well over the past week. Owing to its 21% appreciation in the said timeframe, it was a part of the top 10 gainers’ list at press time on Thursday. Towards the end of last year, FUD associated with Solana was at its peak. There were several claims doing the rounds that most of the development activity on Solana was faked via artificial identities. However, Ethereum founder Vitalik Buterin felt that there was a silver lining. Assuming that the “awful and opportunistic money people” exited the ecosystem, Buterin opined that the chain had a “bright future.” He also revealed that he was told that there’s “an earnest smart developer community” in Solana. Right after the reassurance was given, Solana ’s meme token Bonk [BONK] was launched. Both the factors, in conjunction, aided SOL to swiftly climb up on the charts. In fact, a recent Analysis by Messari confirmed the same. From oscillating in the $8.5 to $11 range, SOL was priced around $16...