“The proposal includes very expansive language, which, together with the chair’s apparent interest in regulating all things crypto, suggests that it could be used to regulate crypto platforms,” said Hester Peirce.
Honestly, for me it’s fucking inflation. I think there’s something incredibly depressing about working your ass off to save for years, and those savings then being worth less five years later. It is also very depressing that the best interest my bank will give me is 0.25 percent, when the rate of inflation is 6…
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Patrick Sells, the NYDIG’s chief innovation officer, said the Bitcoin payment plan was aimed at letting companies offer a benefits package to prospective employees.
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The number of Ethereum small-time holders is on the rise. With each passing month, as more investors move into the market, ethereum has snatched some of the largest market shares. This is evidenced in the growth rate of the network, as well as the amount of ETH being held by investors on their balances. This time around, the number of ETH small-time holders has hit a new record. Holders Holding More Than 0.1 ETH At ATH Glassnode reported on Monday that the number of small-time Ethereum investors holding more than 0.1 ETH on their balances had touched a new high. This easily follows the trend of adoption that the ethereum network has seen in recent times. These small-time holders clocked in at a new high of 6,823,620 on Monday. Related Reading | The Uber Rich Investors Are Picking This Altcoin Over Bitcoin Although the growing adoption of the network is billed as one of the major driving factors behind this, it is can also be a result of the growing gas fees on the network. For one, ethereum transaction fees can run above $100 on bad network congestion days, which can be often, so investors would need about 0.1 or above to complete transactions on the network. This trend of wallet balances hitting new all-time highs follows the accumulation trend of ETH though. During the market crash, Ethereum whales had bought over $500 million worth of ETH. Smaller investors had followed this move and increased their holdings, leading to a new all-time high in the number of wallet addresses holding 1 ETH and above on their balances. Ethereum Follows Market Sentiment The recent uptick in the number of addresses holding more than 0.1 ETH has followed market sentient. Since the crash, market sentiment had dived into the deeply negative, indicating that investors were wary of putting more money into the market. However, this has started to change as most digital assets have recovered a bit from the crash, as evidenced by the Fear & Greed Index. ETH trading at $2,746 | Source: ETHUSD on TradingView.com After hitting one of its lowest point, the Fear & Greed Index had begun to recover. Maintaining about a week in the extreme fear territory, it has now moved out of it and into fear as faith in the market continues to recover. Currently, the index is sitting at a score of 26, 15 points up from its low of 11. Related Reading | Terra Recovers As It Posts 10% Gain In The Last 24 Hours On the price side, ETH has continued to maintain its position above $2,700. The digital asset has built significant resistance at this level but remains vulnerable to drawdowns if bids do not continue to hold up. Its next significant resistance level is at $2,780, a point which it would have to beat if the uptrend is to continue. Featured image from Financial Times, chart from TradingView.com
9-5 people, perhaps not living paycheck to paycheck, but someone who's not more than half a year of unemployment away from having their life turned on its head – These people are not going to get much better off by working, nor by saving money in the bank. They don't have wealthy relatives so there's…
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Goldman Sachs’s words have been interpreted as a sign that the cryptocurrency craze may be coming to an end. The analysts at this global banking powerhouse say they don’t see mainstream adoption boosting the crypto industry soon. Unfortunately, that means bad news for those who bought bitcoin or other crypto assets on hope chests full-force optimism about its value increases exponentially over time. Cryptocurrencies are becoming more and more popular as the adoption rate for Bitcoin increases. The strategists tell Bloomberg that correlation has started to occur with other macro assets such as crude oil, technology stocks, US dollar – all of which have seen significant growth recently too. Diverse asset classes have often been seen as a way to diversify your investments. However, according to analysts, this may not be true for crypto assets due to their high correlation with traditional markets. Making them uniquely susceptible during economic downturns or periods where there’s investor panic on exchanges like Binance losing half its value within months. “Mainstream adoption can be a double-edged sword. While it can raise valuations, it will also likely raise correlations with other financial market variables, reducing the diversification benefit of holding the asset class.” The Decline In Crypto Industry Cryptocurrencies have been on a steady decline since November. The market capitalization of all crypto has dropped from $2.8 trillion at its peak in November to just $1.68 trillion now as I write these words. Analysts point out how correlations with stocks or strength USD often influences prices, but what about wider? Is there anything else going through these declined markets besides traditional economic factors like interest rates & business profits? Related Reading | Which Cryptocurrencies Suffered The Worse Collapse Since All-Time Highs? What might be causing such dramatic price fluctuations across different cryptography currencies- both rise and fall. The blame doesn’t lie solely on one side, though; many factors are driving up or down prices. Those include government regulations abroad where most blockchain technologies operate (such as China and Russia). Whether blockchain technology can escape from macroeconomic influence and monetary policy is still an open question. Goldman says; “Over time, further development of blockchain technology, including applications in the metaverse, may provide a secular tailwind to valuations for certain digital assets. But these assets will not be immune to macroeconomic forces, including central bank monetary tightening.” Featured image from Pixabay, chart from TradingView.com
“It’s a major step forward in multi-chain governance systems,” said the team at Aave.
