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Nigeria has imposed limits on cash withdrawals in a move to push consumers towards alternatives, including its own Central Bank Digital Currency (CBDC), the eNaira.In a letter to banks and other financial institutions published on Tuesday, the Central Bank of Nigeria (CBN) applied new limits on over-the-counter withdrawals at just ₦100,000 ($225) per week for individuals and ₦500,000 ($1,123) for businesses. Taking cash out of ATMs will be capped at ₦20,000 ($45) per day, with only ₦200 ($0.45) notes and smaller denominations being available from the machines.Customers will still be able to take out larger sums in some instances but will…

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Long-term Bitcoin (BTC) holder behavior is considered one of the most determinate factors to assess BTC performance, the market’s top, and the market’s bottom. Long-term holders are defined as addresses that haven’t moved any of their BTC holdings in the last six to 12 months. The Short-to-Long-term Realized Value (SLRV) Ratio shows the percentage of BTC in existence, the amount moved within the last 24 hours, and divides the percentage last moved within the last six to 12 months. High values seen on the SLRV Ratio indicator show that short-term BTC holders are becoming more active and engaged on the…

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Gridless – a Kenyan-based Bitcoin mining company – has announced raising a $2 million seed investment round led by venture capital investor Stillmark and digital payments firm Block, Inc. According to the official press release, Gridless harnesses small-scale renewable energy grids in rural Africa. The company has participated in five different project contract pilots in rural Kenya alongside an African hydroelectric company – HydroBox. Currently, three of these pilots are operational. It has also financed the construction and managing the operation of data centers in rural communities where traditional industrial or commercial customers are unavailable. Commenting on the development, Gridless…

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Most cryptocurrencies are likely to be regulated as securities in the United States according to the CEO of Intercontinental Exchange Inc (ICE), Jeffrey Sprecher, and Senator Elizabeth Warren. The renewed focus on regulating cryptocurrencies as securities comes in light of FTX’s recent implosion, which wiped countless billions from the market, put consumer funds in limbo and soured crypto’s reputation among regulators and officials. Speaking on Dec. 6 at the financial services conference by Goldman Sachs Group Inc, Sprecher — whose ICE operates the New York Stock Exchange — confidently stated crypto assets are “going to be regulated and dealt like…

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The amount of Ethereum held in the wallets of centralized exchanges reached a four-year low, as trust in centralized crypto service providers continues to fall following the bankruptcy of FTX. Cryptocurrency exchange balance reached a four-year low of 19,703,102.3 Ether (ETH) — equivalent to over $24.6 billion as of press time — according to data provided by crypto on-chain analytics provider Glassnode. Furthermore, data from the same source also indicates that the seven-day average of Ethereum’s exchange inflow reached a one-month low of $13,329,870. The previous one-month low of $13,451,840 was reported on Dec. 5. The data surfaced as Bitcoin…

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A prolonged slump in the prices of assets characterizes the crypto market in 2022. The combination of local and macroeconomic factors has impacted the price of these assets. The stock market has also experienced the same bearish trend, with popular stock Nasdaq 1oo declining by nearly 33% in September 2022. The S&P 500 also lost 8% of its value in the same month. Bitcoin and most cryptocurrencies are correlated to stock prices, although there has been a decoupling over the months. The U.S. Federal Reserve also increased rates before considering a softer position due to widespread outcry from the general…

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This is an opinion editorial by Rikki, author and co-host of the “Bitcoin Italia,” and “Stupefatti” podcasts. He is one half of the Bitcoin Explorers, along with Laura, who chronicle Bitcoin adoption around the world, one country at a time. On the road again. Direction: San Salvador. The Bitcoin community is about to gather here for Adopting Bitcoin, the final major Bitcoin conference of the year, but certainly not the least. Friends and Bitcoiners from around the world are flying into the country to work together and promote Bitcoin adoption. Who knows how many of them knew much about this…

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Telegram to build a decentralized crypto exchange, Apple blocks Coinbase NFTs and SBF interviews attract less than stellar reviews. These stories and more this week in crypto. New Decentralized Exchange by Telegram Privacy-focused messaging platform, Telegram, announced that the company would begin building “non-custodial wallets” and “decentralized exchanges”, that would let millions of users safely trade their crypto. Founder and CEO Pavel Durov said this way they can fix the wrongs caused by excessive centralization, which let down hundreds of thousands of cryptocurrency users in the FTX fiasco. Apple Blocks Coinbase NFTs Coinbase customers using Apple devices will no longer…

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As investors look to consolidate profitable positions, big moves are being made in the crypto market, and recently top Ethereum whales have switched their assets from SHIB to other coins. This move has removed the popular meme coin from their list of top ten assets. Shiba Inu is also feeling the effects of the recent downturn in prices. Investors’ faith in crypto is low due to the FTX crash. However, some investors are still optimistic about the rise of crypto with more adoption and utilization. Vital data from WhaleStats reveal that the top 100 whales on the Ethereum blockchain have…

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The value of stolen cryptocurrency by hackers within the first 11 months of the year rose by 37% to $4.3 billion in 2022, which was discovered by new research conducted by a cybersecurity and data privacy firm, Privacy Affairs. Grab your copy of our latest Quarterly Intelligence Report for Q3 2022 before your competitors and stay up-to-date with crucial developments in the Forex and CFD industry! The firm noted that the collapse of FTX is the largest cryptocurrency scam so far this year with about $1-2 billion in customer funds unaccounted for. According to Privacy Affairs, of the 11 biggest…

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