TL;DR Breakdown The latest VeChain price analysis shows bearish signs. The price has decreased to $0.01946 today. Support is found at the $0.01887 level. The VeChain price analysis is indicating that the price levels have dropped down to $0.01946 once again. The bearish slop has been continuous during the day, and it is further strengthened by today’s loss. More sellers are attracted to selling their assets, which is why VET price levels are going down. The short-term trend line is thus moving downward, which is a major bearish indication as well. Interestingly, the VET/USD price has been fluctuating quite far from its closing price caps for a long time, which makes intraday trading interesting but risky. VET/USD 1-day price chart: Price deviates once again as bears strike The 1-day VeChain price analysis is going strong for the bears, as price levels are downgrading again after a brief bullish interval. The price has decreased up to $0.01946, and it seems that the bears are trying to regain their lost momentum. The past week has been greatly supportive of the bears, and…

TL;DR Breakdown Bears seem to have taken over the market as Bitcoin dropped below the $27,000 level BTC is facing a strong rejection at the $26,833 level Bitcoin price analysis shows a bearish trend Bitcoin price analysis reveals that the bears are dominating the market today. BTC, the leading cryptocurrency, has experienced a significant decline in recent times, triggering concerns among investors and industry observers.  Currently, the BTC is present at $26,696 and is down by nearly 0.39% in the last 24 hours. The $26,833 level proved to be a strong resistance for BTC, which was an intraday high of the day. However, the bears remained strong and took control of the market sentiment. The support for BTC is at $26,636, and if bears remain in control, then the price is likely to dip below this level. Bitcoin price analysis 1-day price chart: BTC drops below $27k after bears hinder bullish movement The price is going down once again, according to the one-day Bitcoin price analysis. The bearish momentum is coming back, and the price has decreased up to the…

TL;DR Breakdown Cronos Labs has launched the second cohort of its accelerator program with a $100 million investment. The second cohort will focus on blockchain and AI projects. Cronos Labs has recently announced the launch of its second cohort for its accelerator program. With a substantial $100 million investment, the program aims to support early-stage cryptocurrency projects by offering mentorship and funding opportunities. Cronos Labs to invest $100 million in the program The selected projects for this cohort were carefully handpicked by Cronos Labs. The eight chosen projects include Omnus, DeMe, Furrend, Solace, Sakaba, Eisen Finance, Earn Network, and CorgiAI. Each of these projects received an upfront seed funding of $30,000 and will undergo a 12-week program. The projects cover a wide range of areas within the cryptocurrency space. These include Web3 game development, smart contract wallet integration, loyalty platforms for Web3 gaming, liquid marketplaces for yield-earning opportunities, and an ecosystem for the peer-to-peer economy of artificial intelligence. The program will focus on AI and blockchain projects The theme of this cohort is the bridging of AI and blockchain technology….

TL;DR Breakdown Binance has returned to Japan under a new subsidiary. The company continues its expansion strategy through acquisitions. After an absence of five years, cryptocurrency exchange Binance is making a comeback in the Japanese market. The company has initiated the process of establishing a new subsidiary that will operate under full regulation in the country. This development follows the exchange’s acquisition of Sakura Exchange Bitcoin (SEBC), a regulated cryptocurrency exchange, in November 2022. Binance sets up new regulated subsidiary As part of the deal, SEBC will cease its current services by May 31 and rebrand itself as Binance Japan in the coming weeks. Users who are currently utilizing the company’s global platform in Japan will be required to register with the new entity. The migration process is scheduled to begin after August 1, 2023, and will involve a new identity verification process (KYC) to comply with local regulatory requirements. In terms of user funds, any remaining balances on the SEBC exchange will be automatically converted to Japanese yen and transferred to users’ bank accounts starting in June, as previously…

TL;DR Breakdown China has released a roadmap for web3 development, investing 100 million yuan annually until 2025 in Beijing’s Chaoyang district. Recent signs, including a state-broadcasted Bitcoin segment, suggest a potential change in China’s cryptocurrency policy. The white paper’s release interestingly coincides with new cryptocurrency regulations in Hong Kong, hinting at evolving regional dynamics. China’s complicated relationship with the cryptocurrency industry has undergone a drastic twist. On May 27,  Beijing’s municipal government showcased a white paper heralding a commitment to accelerating the web3 industry’s growth. The paper spotlights various research areas in the web3 industry, taking in artificial intelligence (AI), content production tools, and XR interactive terminals. It also heralds the swift evolution of novel applications, such as digital populations and collections, while highlighting the need for adaptive policy reforms to surmount inherent developmental challenges. Zhongguancun Chaoyang Park, colloquially termed China’s Silicon Valley, will serve as the launch pad for these bold digital strides. The area’s Management Committee Director, Yang Hongfu, confirmed plans to commit no less than 100 million yuan (roughly $14 million) annually until 2025 to underpin this…

TL;DR Breakdown The Eurasian Economic Commission (EEC) Chairman, Mikhail Myasnikovich, has proposed that the BRICS nations, the Shanghai Cooperation Organization (SCO), and the Eurasian Economic Union (EAEU) adopt joint policies regarding digital currencies and develop a common payment card system. Myasnikovich’s call for collaboration was made during the second Eurasian Economic Forum in Moscow, underlining the growing importance of digital currencies in the global financial landscape. This proposal aligns with a broader trend among these nations towards increasing the use of national currencies for settlements, with nearly 80% of settlements within the EAEU already conducted using national currencies. In a strategic move aimed at furthering economic integration, Mikhail Myasnikovich, the Chairman of the Board of the Eurasian Economic Commission (EEC), has urged the BRICS nations, the Shanghai Cooperation Organization (SCO), and the Eurasian Economic Union (EAEU) to embrace the potential of digital currencies. Speaking at the second Eurasian Economic Forum in Moscow, Myasnikovich proposed a collaborative approach towards the use of digital currencies and the establishment of a unified payment card system. A common digital payment system: The next step…

TL;DR Breakdown Arbitrum price analysis shows a bullish trend Suppor for ARB/USD is present at $1.15 Arbitrum prices are facing resistance at $1.18 Arbitrum price analysis is bullish, with the ARB/USD pair rising to the $1.17 level. The price action recently created a bullish engulfing candlestick pattern, which indicates that the token is in an uptrend. The Arbitrum price is trading within the confines of a symmetrical triangle pattern, which could potentially break to the upside. Resistance is found at $1.18, which needs to be breached for a further upside move. Support is seen at the triangle bottom of $1.15, and if breached, a dip to $1.09 could be seen.  The market capitalization for the token has been increasing steadily, indicating that there is strong demand for ARB tokens, and is currently at $1.45 billion. While the trading volume remains low at $208 million, the market cap is on an uptrend and may indicate further price appreciation in the near future. Arbitrum price analysis 1-day chart: ARB is driven to $1.17 by bullish momentum. The 1-day Arbitrum price analysis has…

TL;DR Breakdown Leaders from China, Russia, and Brazil have initiated discussions on joint cooperation within the BRICS bloc, focusing on the development of a shared currency. Presidents Xi Jinping, Vladimir Putin, and Luiz Inácio Lula da Silva exchanged thoughts over the phone, where they also touched upon issues like peace in Ukraine, mutual strategic partnerships, and the upcoming BRICS summit. Brazil’s President Lula voiced his support for the creation of a common currency, arguing that it could help developing nations gain financial independence and stability. In a series of high-level phone conversations, China’s President Xi Jinping, Russian President Vladimir Putin, and Brazilian President Luiz Inácio Lula da Silva have commenced discussions about their collaborative work within the BRICS bloc. BRICS – comprising Brazil, Russia, India, China, and South Africa – stands as a testament to the economic prowess of emerging markets. The conversations anticipate the forthcoming leaders’ summit, with significant discourse centering on the possibility of a common BRICS currency. Strengthening strategic partnerships President Lula, an advocate for a transition away from the U.S. dollar to national currencies and a…

TL;DR Breakdown The U.S. government is racing against a critical deadline to lift the $31.4 trillion debt ceiling to prevent a catastrophic default. The Treasury Department has warned that the government will run out of funds to pay its bills by June 5 unless Congress acts. A high-stakes negotiation is in the works in Washington as a critical deadline looms to lift the U.S. federal government’s $31.4 trillion debt ceiling. In a political climate fraught with a razor-thin margin in Congress, the consequences of a failure to resolve the current standoff are potentially catastrophic. The urgency of addressing the debt ceiling As we move closer to the clock striking midnight on this fiscal time bomb, the deadline of June 5, revised from an initial June 1 date, is fast approaching. The Treasury Department has asserted that the government could find itself unable to meet its financial obligations if Congress does not act decisively. However, sealing a deal is no easy feat. An agreement between President Joe Biden and top congressional Republican, Kevin McCarthy, is merely the starting gun in a…

TL;DR Breakdown Andreessen Horowitz, also known as A16z, a venture capital firm, has released a Solidity library that can be used for anonymous voting on Ethereum called “Cicada.” Cicada uses time-lock puzzles, a sort of encryption that lets users encrypt secret values that can only be decoded after a certain amount of time. According to the A16z post, Cicada uses these homomorphic puzzles, allowing votes to be counted even if users go offline. Andreessen Horowitz unveils “Cicada,” a library that enables untraceable voting on Ethereum. An anonymous voting Solidity library for Ethereum has been made available by venture capital firm Andreessen Horowitz, popularly known as A16z. The library, under the name of “Cicada,” keeps polling place choices a secret until after the polls close.  Anonymous voting on Ethereum with A16z’s “Cicada” library According to a blog post by A16z engineer Michael Zhu on May 24, it can also render the voter’s identity eternally unknowable when paired with zero-knowledge group membership systems like Semaphore. According to Zhu, Cicada uses time-lock puzzles, a cryptography that enables users to encrypt personal values that…