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With its native governance token, OOKI, down by 95% from its all-time high (ATH), Ooki Protocol has struggled since its creation in late 2021. Since November last year, the Ooki DAO (decentralized autonomous organization) has dealt with the US Commodity Futures Trading Commission (CFTC) in a legal battle. The regulator claimed that the DAO offered unregistered commodities while in the belief that decentralized institutions wouldn’t face legal effects. The US CFTC eventually won the legal case against Ooki DAO that the trading platform operated illegally in the US. You might also like: STORJ price skyrockets amid recent market-wide recovery Following the recent loss, the OOKI token has plunged further, diving by over 15% in the past 24 hours. According to data provided by CoinMarketCap (CMC), the asset is trading at $0.003 at the time of writing. OOKI price – July 5 | Source: CoinMarketCap Moreover, OOKI’s 24-hour trading volume plunged by 20%, dropping to $26 millio...

What are the best metaverse projects that investors should keep on their radar? Cointelegraph Research Metaverse Ranking Awards the top projects The metaverse continues to expand, with industry giants and upcoming players racing to seize a slice of the potentially trillion-dollar pie. Close to $2 billion was invested in blockchain-based metaverse deals in 2022, according to Cointelegraph Research’s VC database.  A 2022 report by McKinsey estimated the metaverse industry to potentially generate up to $5 trillion in revenue by 2030, an estimate overtaken by Citi's forecast of $8 to $13 trillion . These estimations reflect significant growth from the global metaverse market of $65.5 billion recorded in 2022. To realize these optimistic forecasts, the metaverse industry would need to sustain an impressive 85% compound average growth rate. VC metaverse funding in 2022. Source:  Source: Cointelegraph Research. Investors will never guess which metaverse won Cointelegraph’s 2023 Ranking...

Both BTC price and the total crypto market cap line up a retest of the 200-week moving average — a key bear market support line. Bitcoin (BTC) fell sharply after the May 24 Wall Street open as a “long awaited retest” of key trend lines materialized. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Bitcoin abandons uptick to retest moving averages Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $26,154 on Bitstamp — its lowest since May 12. The latest action was a world away from just the day prior, when upside formed the main story for the market and Bitcoin was aiming for $27,500. Rangebound volatility was thus the name of the game on the day, while traders eyed key levels for bulls to protect going forward. These came in the form of the 100-day and 200-week moving averages (MAs), both already a topic of conversation in recent weeks. “We are getting a long awaited retest of the 200-Week Moving Average. IMO, this is the MOST important level for B...

The market capitalization of Tether is nearly a billion dollar away from reaching a new lifetime peak while rival stablecoins struggle. Tether (USDT) has emerged as a clear winner amid the ongoing banking crisis and crypto crackdown in the U.S. On April 17, the U.S. dollar-pegged stablecoin's circulating market valuation reached nearly $81 billion, just 1.5% below its record high of $82.29 billion from a year ago. It has grown about 20% year-to-date (YTD) already and is now eyeing new all-time highs. USDT market capitalization monthly chart. Source: TradingView Tether rivals hit new yearly lows USDT's growth came as Tether ate up the market share of its stablecoin rivals, USD Coin (USDC) and Binance USD (BUSD). That is due to crypto traders' belief that Tether's operations have no exposure to the potential banking crisis contagion. For instance, the circulating market capitalization of the USD Coin, the second-largest stablecoin, has dropped over 25% YTD to $31.82 bill...

BTC’s market cap has climbed to the 11th spot amongst top assets by market cap and now sits behind electric vehicle maker Tesla. Despite a turbulent week for crypto following the downfall of Silicon Valley Bank (SVB) and Signature Bank, Bitcoin (BTC) market cap has managed to flip that of tech giant Meta. At the time of writing, data from Companies Market Cap shows Bitcoin's market cap has reached $471.86 billion, surpassing that of Meta’s market cap of $469 billion. Companies Market Cap provides real-time monitoring and ranking of market caps for cryptocurrencies, public companies, precious metals, and ETFs. Bitcoin's market cap standing compared to other assets. Source: Companies Market Cap Only 24 hours earlier, BTC’s market cap was nearly $37 billion below Meta’s market cap, sitting at $433.49 billion compared to Meta’s market cap of $469 billion. However, Bitcoin’s market cap rose 9.7% in the past 24 hours, pushing the cryptocurrency to sit in the 11th spot among top...

Explore the economics of cryptocurrency mining and the challenges and opportunities that exist in this rapidly evolving industry. Mining refers to the process of verifying and adding new transactions to a Blockchain network, such as in the case of Bitcoin (BTC) or other crypto currencies. The economics of Mining refers to the economic incentives and costs associated with the Mining process, as well as its impact on the broader economy. The economics of crypto mining are driven by a variety of factors, including cryptocurrency prices, mining difficulty, hardware costs, energy expenses, block rewards and transaction fees. This article will explain economics of mining, including costs, revenues and market trends. Cryptocurrency mining costs The costs associated with cryptocurrency mining can be broken down into several categories: Hardware costs: The price of specialized application-specific integrated circuits (ASICs), for example, can have a big impact on the profitability of mining....

There is plenty to be optimistic about when it comes to further BTC price gains, RSI analysis concludes. Bitcoin (BTC) is in for a new “big rally ” as market strength copies conditions from after the 2018 bear market . According to the latest analysis, BTC/USD will continue to head higher “after some consolidation” thanks to key signals from its relative strength index (RSI). Bitcoin prints never-before-seen bullish divergence With the BTC price gains still coming, Bitcoin bulls are feeling increasingly confident despite widespread mistrust of the longevity of the current rally . For popular trader Crypto Wolf, a key phenomenon now underway sets Bitcoin’s latest recovery apart from all others. RSI, he noted on Jan. 18, had printed a long-awaited bullish divergence on weekly timeframes — something which has never happened before. “BTC printed a rare weekly RSI bullish divergence. Never happened in BTC history, a once in a life opportunity,” he summarized on Jan. 21. RSI is a fundamen...

Join us as we discuss the current state of the crypto market, particularly in terms of the current bear market and Bitcoin mining. Hosting the show will be Ray Salmond, head of markets at Cointelegraph, and our special guest this week is Drew Vosk. On this week’s episode of Market Talks, Cointelegraph welcomes Drew Vosk, founder of VoskCoin, a cryptocurrency YouTube channel with over 607,000 subscribers. This week, we take a deep dive into all things crypto from the unique perspective of a Bitcoin (BTC) miner. We get Vosk’s take on the things that are impacting his bottom line as a Bitcoin miner and what challenges he is currently facing by mining Bitcoin at home as opposed to with an industrial miner. Is it worth investing in a solar mining farm with electricity costs soaring at the moment? What is the ROI, and is it more cost-effective in the long run to harness the power of the sun? Vosk not only mines Bitcoin but also a host of other coins. We ask him what his mining strategy is...

Cointelegraph Research asked top venture capitalists and industry professionals, “What is Web3, and what does it mean for the industry?” The third quarter of 2022 saw a reduction in venture capital activity across the entire blockchain industry. Investors appear to be moving away from decentralized finance (DeFi) and into Web3.  The crypto industry tends to have a problem with overusing buzzwords, like the way “DeFi” was everywhere just a couple of years ago. In 2022, it seems like every new startup and established blockchain company alike is taking up the “Web3” mantle. But what exactly is Web3? Cointelegraph Research delved into the matter in its recently released Q3 2022 Venture Capital Report. To further understand the subject, it held a panel discussion with venture capitalist investors to find out how they see Web3. Web3: The newest buzzword  The panel was asked whether the term Web3 is overused or the next big thing. Tim Draper, founder of Draper Fisher Jurvetson, said: “The ...