Category: Cryptocurrency News

A spokesperson for Australian Treasurer Jim Chalmers said they are closely monitoring the fallout from FTX’s collapse.

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Despite eight months of due diligence, investment firm Temasek found no major concerns with FTX’s financials and no sign that the crypto exchange would eventually collapse.

With Sam Bankman-Fried involved in so many philanthropic ventures, the fallout of FTX could also see a variety of grants and investments being subject to clawbacks or not honored.

Its been a year for me in the crypto space and I have been collecting a few coins here and there but now have lost trust on all those shitcoins.. planning to fill the bags with Ether instead. I wanted to just use the Ethereum blockchain for that but its transaction fees are too high…
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Investment firm Paradigm is still optimistic about crypto’s potential following the collapse of FTX. “The blowup of FTX has caused some to question crypto’s value. But the issues at FTX are precisely ones that decentralized finance [defi] can solve through increased transparency and security,” the firm’s co-founder emphasized. Paradigm on FTX Collapse, Defi Paradigm co-founder […]

Ethereum failed to clear the $1,300 resistance zone against the US Dollar. ETH remains at a risk of more losses if there is a break below the $1,170 support zone. Ethereum is facing resistance near the $1,250 and $1,280 levels. The price is now trading below $1,240 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,245 on the hourly chart of ETH/USD (data feed via Kraken). The pair could accelerate lower if there is a clear move below $1,180 and $1,170. Ethereum Price Faces Hurdles Ethereum attempted an upside break above the $1,300 resistance, similar to bitcoin at $17,000. ETH failed to gain pace for a clear move above the $1,300 resistance. A high was formed near $1,290 before the price started a fresh decline. There was a clear move below the $1,260 and $1,250 levels. Ether price even traded below the $1,220 level. A low is formed near $1,183 and the price is now consolidating losses. The price is now trading below $1,240 and the 100 hourly simple moving average. There was a minor increase above the 23.6% Fib retracement level of the recent decline from the $1,290 swing high to $1,183 low. An immediate resistance on the upside is near the $1,240 level. There is also a major bearish trend line forming with resistance near $1,245 on the hourly chart of ETH/USD. The trend line is near the 50% Fib retracement level of the recent decline from the $1,290 swing high to $1,183 low. Source: ETHUSD on TradingView.com The next major resistance is near the $1,265 level. A clear break above the $1,265 resistance could send the price towards the $1,300 resistance zone. To start a steady increase, the price must settle above $1,300. In the stated case, the price could rise towards the $1,400 level. More Losses in ETH? If ethereum fails to climb above the $1,245 resistance, it could continue to move down. An initial support on the downside is near the $1,185 level. The next major support is near the $1,170 level, below which ether price may perhaps start another major decline. In the stated scenario, the price could drop towards the $1,100 support zone in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is now losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,170 Major Resistance Level – $1,265

The blockchain-backed upgrade in the works for nearly five years has potentially cost Australia’s primary exchange over $170 million.

The Bitcoin and crypto market has been volatile for most of 2022. Judging from the prolonged bear market, most experts were optimistic that it was close to an exit point. However, recent trends in the crypto world and macro-financial activities have prolonged the downtrend. The feds’ rate hike continues to affect crypto assets adversely. XRP’s case with the SEC also has hurt crypto holdings. With their recent victory over crypto giants LBRY, the XRP case is viewed with anxiety. XRP and LBRY cases bear striking similarities, although the XRP’s legal team has expressed confidence in their chances. Related Reading: Tom Brady, Gisele Bundchen, And Sam Bankman-Fried Sued Over FTX Collapse More recently, FTX’s collapse has also sent investors into a withdrawal frenzy, preferring to hold their assets. In addition, trust in central exchanges is now at an all-time low and has called to question the legitimacy of cryptocurrencies. In the past 24 hours, prices of cryptocurrencies have significantly changed, with changes recorded in most projects. Bitcoin’s Price Drama BTC price recorded a brief bullish rally credited to the tweets of Elon Musk and Binance’s CEO Changpeng Zhao. Zhao talked about creating an industry recovery fund to help crypto projects that are strong but face liquidity problems. This announcement comes on the heels of the FTX disaster and Binance’s proposed bailout that was suspended. Elon Musk had responded to a tweet from Michael Saylor about converting his Tesla holdings to Bitcoin and its positive effect on the Market. The Twitter exchange between the two entrepreneurs created a brief rally for the world’s number one cryptocurrency. Bitcoin’s price recorded an intraday high of $17,190. However, it could not withstand the resistance and succumbed to bearish pressure falling to $16,191 subsequently. BTC’s price has slightly recovered and is currently trading at $16,713. The total market capitalization for crypto is around the $890 billion mark. These figures show a $10 billion increase in the market cap. However, Bitcoin’s dominance took a hit and is currently at 36.6%. With the current volatile market phase, investors will likely proceed cautiously as events unravel. However, Bitcoin will likely lead the rally if the prices recover in the coming days. Bitcoin Price Performance Bitcoin’s recent price performance shows that the coin is observing a price downtrend. The FTX collapse might also have aided this downward spiral. Investors have gone short on losing positions to cut losses and prevent total bankruptcy. Related Reading: Bitcoin 7-Day Volatility Comes Alive As FTX Collapse Shakes Market Bitcoin’s current support levels are at $16,265 and $16,404.8. However, market volatility will have a say in Bitcoin price, with the coin crossing the critical pivot point of 16541.7. The MacD indicator clearly shows Bitcoin’s brief rally and descent into a complete bearish phase. The volatility is high, and a risky investment for investors since a further drop is still likely. The SMA 50 and 200 also reflect the bearish trend of BTC and will likely continue their descent on the chart. It is not likely that bitcoin will go on a bullish spree. Featured image from Pixabay, chart from TradingView.com

I understand if I unstake on coinbase i get cbETH. Im just confused that once i do that do i still technically have my ETH2.0 staking in coinbase? If this is the case, Will I still be receiving APY on that staked ETH 2.0 even though I “swaped” it for cbETH? Once I swap it…
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