The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says it’s time to open his closed mind after listening to economist Harry Dent. He is now buying 2-year U.S. Treasury bonds despite repeatedly saying he does not invest in anything printed by the Federal Reserve or Wall Street. Robert Kiyosaki Influenced […]
Now that US customers have been banned from using Tornado Cash, their Github was shut down, and one of their devs was arrested in the Netherlands, there any reputable and trustworthy alternatives? submitted by /u/maxito98 [link] [comments]
Ether options have been trading for a much shorter time compared to Bitcoin options, but the former has done an impressive job catching up with its predecessor. Bitcoin had dominated as the leading crypto options asset in the space, with billions pouring into it. However, the tide had begun to turn in the 3rd quarter of 2022 when an important update about the Ethereum Merge triggered a surge in interest for Ether options. Ether Options Surpass Bitcoin Ether options debuted in the market back in January 2020, and it has enjoyed steady growth since then. However, no matter how much Ether options had grown, bitcoin options remained higher with open interest in crypto pouring into the pioneer cryptocurrency. Then in July 2022, Ethereum developers made an announcement regarding the network’s upgrade to a proof of stake mechanism, and this would change the game completely. Related Reading: Why This New NFT Integration May Be What Cardano Needs To Break $0.6 In July, interest in Ether options had ballooned, leading to a meteoric rise. It had packed at a new all-time high of $8.1 billion, which was more than 50% high than bitcoin at the time, with an open interest of $5.4 billion. From there until the present day, Ether options remain on an impressive uptrend, continuing to surpass bitcoin at each turn. Public miners sell more BTC than they produced | Source: Arcane Research The rise puts Ether options trailing at 100% recovery compared to bitcoin, which continues to trail at 70%. It is the first time ever that the open interest in Ethereum has grown larger than that of bitcoin, and it is all thanks to the much-anticipated Ethereum Merge. Is The Flippening Imminent? The “flippening” is a word that has come to mean Ether surpassing bitcoin in value. Mostly, this school of thought has emerged following the fact that the performance of the price of ETH has surpassed that of BTC on a year-to-year basis. Hence, some investors expect the digital asset to flip bitcoin at some point to become more valuable. There is no set timeline for when the flippening is expected to happen. However, each time Ether overtakes Bitcoin on any metric, the flippening debates begin. The same has been the case with the ETH options growing larger than BTC. ETH declines to low $1,800 | Source: ETHUSD on TradingView.com Presently, the price of BTC is still more than 10x that of ETH. So if there is going to be a flippening, then ETH would have to grow 1,000% while the price of BTC remains unmoved. This is unlikely to happen, given that the market actually moves with the price of BTC. Related Reading: Outflows Rock Bitcoin As Institutional Investor Sentiment Starts To Turn However, as the Merge draws closer and what is referred to as a “Triple halvening” is imminent, ETH will likely further close the gap between it and bitcoin. This event would see less supply of ETH in the market, giving it a genuinely deflationary model to be able to rival bitcoin’s limited supply. Featured image from MARCA, charts from Arcane Research and TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
A pricing analysis of bitcoin reveals that buyers are at a disadvantage. Price increased after a weaker opening and tested the session high of $24,448.40. However, it swiftly reversed course and tested the pivotal 21-day exponential moving average, where it is currently resting. The market action right now suggests that the bulls are running out of steam close to the higher levels and that the bears are clearing the way for more correction. The largest cryptocurrency’s 24-hour trading volume is $30,603,898,759, up more than 7%. BTC/USD, however, is currently reading at $23,422.79, a 1.85% daily decline. BTC/USD trades at $23k. Source: TradingView The longer the price remains below this level, the more powerful the selling pressure will be as BTC slips below the crucial support level of $23,500. FOMC Meeting Crushes Bitcoin Price Data from TradingView showed that BTC/USD fell by more than 2% every day and reached $23,325. Hours before the Federal Open Markets Committee (FOMC) was scheduled to release minutes from its most recent meeting, the pair, which had already started to exhibit indications of weakness, fell further as trading in US stocks got underway. Despite not having a rate decision, the meeting was timed to reveal the Fed’s perspective on the upcoming rate adjustment scheduled in September. Michaël van de Poppe summarized in his latest Twitter update: “The important event tonight with the FOMC minutes, through which information can be received whether the FED is going to be hawkish or dovish. I don’t think it will have a massive impact, however, crypto tends to give it a ton of value and, therefore, lots of volatility.” Related Reading: Bitcoin And Ethereum Retrace Before Crypto Sentiment Could Reach “Greed” Marcus Sotiriou, an analyst at the UK-based digital asset dealer GlobalBlock, believes a clearer picture may become apparent later on Wednesday in relation to the FOMC minutes. “Bitcoin’s volatility has fallen over the past week or so, yet sellers have been dominant, as there is uncertainty around FOMC minutes being released this evening. The minutes will give an indication of the Federal Reserve’s stance and when they may begin to slow the pace of rate hikes.” The US Federal Reserve recently increased interest rates by 0.75%, but month-over-month inflation readings were lower than anticipated. Can the FOMC’s remarks boost Bitcoin (BTC) and the larger crypto market at the right time? According to Sotiriou’s note to clients: “According to technical analysis, Bitcoin will face a significant test in the coming days because the 200 weekly moving average, which is currently at around $23,000, is just below the current price of $23,700. If this level cannot be maintained, it will imply that there will be additional downside in the coming weeks and that the market’s reversal may be delayed.” Another crypto analyst and trader @EtherNasyonaL, however, believes the opposite – that Bitcoin is currently in a historic purchasing zone. The analyst thinks that right now is the best time to invest in Bitcoin because the asset is expected to increase in value in the future. Related Reading: TA: Bitcoin Price Topside Bias Vulnerable Unless It Surges Past $24.5K Featured image from Getty images, charts from TradingView.com
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Sen. Pat Toomey says he has information from whistleblowers that the FDIC without a legal basis is discouraging banks from dealing with companies with crypto links.
On Wednesday the Ethereum Foundation clarified that The Merge will not reduce onchain fees as the highly anticipated transition from proof-of-work (PoW) to proof-of-stake (PoW) is now 29 days away. Amid The Merge update from the Ethereum Foundation, during the last month, Ethereum network costs have printed some of the lowest onchain fees since 2020. […]
“The U.S. is where the action is in terms of markets, so we plan to be in at least another couple of states as well as Texas with some diversified offering,” said CEO Andy Long.
This would make it more viable for individuals to run their own node rather than pooling it. I'm saying this of course because of the compliance coding saga and the minimization of big central entities having control over Ethereum software regulation. submitted by /u/AquaSilverstream [link] [comments]
