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Artificial intelligence tools are providing solutions to various functions and departments within major cryptocurrency exchanges. Cryptocurrency exchanges are finding novel ways to improve internal departments and functions using artificial intelligence, according to Bitget managing director Gracy Chen. Speaking to Cointelegraph editor Zhiyuan Sun during EthCC in Paris, the exchange ’s MD highlighted a number of ways in which the exchange is incorporating AI tools into everyday processes. Chen said that the company has actively asked its management team to give feedback on which AI tools and services they are using and experimenting with across departments. Related: Vitalik Buterin shares account abstraction challenges in Ethereum: EthCC AI has been a major focal point for the wider technology industry in 2023, with large language learning models like OpenAI’s ChatGPT chatbot which has a myriad of use cases that promises to revolutionize a number of industries. Chen said that AI too...

Bullish crypto traders are struggling to clear the overhead barrier in Bitcoin and select altcoins, indicating that bears have not given up yet. Bitcoin continues to trade near $31,000, making it an important resistance level to watch out for in the short term. Some analysts believe the current consolidation could result in an upside breakout in Bitcoin. The institutional investors also seem to be positive about the prospects of a further rally in Bitcoin (BTC). CoinShares head of research James Butterfill said in a recent report that 98% of all the digital asset inflows of $334 million went into Bitcoin-related products. Daily cryptocurrency market performance. Source: Coin360 Although the short-term price action on Bitcoin and select altcoins looks positive, market participants should stay cautious due to the uncertainty regarding macroeconomic issues. The crypto markets are likely to be influenced by the United States inflation figures and the Federal Reserve’s monetary action over...

The cryptocurrency exchange secured VASP licensing in Lithuania in April. On May 23, cryptocurrency exchange Bitget announced its successful registration as a virtual asset service provider (VASP) in Poland. The regulatory license allows Bitget to operate legally within the Polish market. In April, Bitget received its VASP license in Lithuania, allowing it to offer cryptocurrency-related services both within and from the Baltic nation.  Gracy Chen, Bitget’s managing director, said, “We understand that regulation is the future of the cryptocurrency industry if mainstream adoption is to be achieved. The recent registrations in the two European countries enhance our foothold and service in Europe.” According to its latest quarterly update, Bitget grew its staff count from 1,000 to 1,300 members during Q1 2023 and still has around 300 openings in research and development, compliance, business development, operations and customer support.  Additionally, the price recovery of Bitcoin (B...

Today's CPI report highlighted a slight decline in inflation, a development which could put a strong price floor beneath Bitcoin and select altcoins. The March consumer price index climbed marginally by 0.1%, below economists' expectation of a 0.2% increase and February’s advance of 0.4%. Although inflation is showing signs of slowing, the year-on-year CPI increased by 5%, well above the Federal Reserve’s 2% target.  The FedWatch Tool shows a 67% probability of a 25 basis point rate hike in the Fed’s May meeting but by the end of the year, the majority of the market participants have come to expect rates to be lower than the current level. Daily cryptocurrency market performance. Source: Coin360 An expansive monetary policy is usually positive for risky assets. In addition, crypto traders will focus on Bitcoin’s (BTC) halving which is set to occur next year. That is also likely to be a positive for cryptocurrency prices. While the near-term picture is uncertain, the long-term...

Bitcoin and select altcoins are close to breaking out of their overhead resistance levels, indicating that bulls remain in control of the crypto market. Bitcoin (BTC) is up about 71% in Q1 2023, which is the first positive quarter after four consecutive quarters of negative returns in 2023, according to data from Coinglass. This shows that the sentiment has turned positive and the bulls are trying to put a bottom in Bitcoin. When the undercurrent is bullish, negative news results in shallow corrections. That is what happened after the United States Commodity Futures Trading Commission slapped a lawsuit against Binance and its CEO Changpeng Zhao for trading violations. This news pulled the markets marginally lower but did not start a strong down move. Daily cryptocurrency market performance. Source: Coin360 Another thing that happens in a bullish environment is that cryptocurrencies move up without any specific catalyst. That happened on March 29 when Bitcoin and several major altcoin...

Bitcoin price finally broke through the $28,000 mark, but BTC futures and options data suggest some traders are uneasy about the strength of the recent bullish momentum. The price of Bitcoin (BTC) surpassed $28,000 on March 21, but according to two derivatives metrics, traders aren't very ecstatic after a 36% gain in eight days. Looking beyond Bitcoin’s stellar performance, there are reasons why investors are not fully confident in further price upside The recent rescue of Credit Suisse, a 167-year-old leading Swiss financial institution, is proof that the current global banking crisis might not be over. On March 19, Swiss authorities announced that UBS had agreed to acquire rival Credit Suisse in an "emergency rescue" merger in order to avoid further market-shaking turmoil in the global banking sector. The transaction could benefit from more than $280 billion in state and central bank support, which is equivalent to one-third of Switzerland's GDP. Unfortunately, th...

Mt. Gox creditors have another month to file for their claims as the registration deadline was pushed back by another month. The registration dates for Mt. Gox creditors have been pushed back by another month . According to the announcement, the deadline has been pushed from March 10 to April 10, allowing creditors to file their claim for another month . Along with the extension for the registration deadline, the distribution deadline has been pushed back by another month as well. The distribution of assets to creditors will now take place starting from Oct. 30 instead of Sept. 30.  The official document cited various circumstances for the shift in deadline s such as the progress by rehabilitation creditors in respect of the Selection and Registration. Creditors have the option of a lump-sum payment, bank remittance, fund transfer service provider, or going through a Cryptocurrency Exchange or custodian. This is a developing story, and further information will be added as it becom...