Category: Cryptocurrency News

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The vote to reimburse users affected by the hack was one of the final governance decisions for Tribe DAO which has announced plans to wind down.

There’s a hole to be filled where Tornado Cash once was, and “junior mixers” are vying for position in the wake of the mixers sanction and ban by the U.S. Treasury.

For the opposite, a weakness of PoW versus PoS is the energy consumption. I am interested in the some generally accepted weakness of PoS versus PoW. submitted by /u/mredda [link] [comments]

Non-fungible token (NFT) sales this week dropped 10.88% lower than the week prior. Roughly $118.02 million worth of NFTs were sold this week compared to last week’s $132.43 million. Further, the top two NFT collections with the largest market capitalizations shed significant value during the past seven days. While Bored Ape Yacht Club’s market valuation […]

Ethereum saw a major rejection near the $1,420 zone against the US Dollar. ETH is down over 6% and remains at a risk of a drop below the $1,220 support. Ethereum started a fresh decline from the $1,420 resistance zone. The price is now trading below $1,300 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $1,325 on the hourly chart of ETH/USD (data feed via Kraken). The pair could recover, but it might face sellers near the $1,285 and $1,325 levels. Ethereum Price Dives 6% Ethereum attempted to gain bullish momentum above the $1,400 level. However, ETH struggled to clear the $1,420 level and reacted sharply to the downside. There was a major decline below the $1,350 and $1,320 levels. Besides, there was a break below a key bullish trend line with support near $1,325 on the hourly chart of ETH/USD. The pair even broke the $1,300 level and settled well below the 100 hourly simple moving average. Ether price traded to a new weekly low at $1,219 and is currently consolidating losses. It is testing the 23.6% Fib retracement level of the recent decline from the $1,419 swing high to $1,219 low. On the upside, the price is facing resistance near the $1,285 level. The next major resistance is near $1,320 level. It is close to the 50% Fib retracement level of the recent decline from the $1,419 swing high to $1,219 low. The main resistance sits near the $1,350 level and the 100 hourly SMA. Source: ETHUSD on TradingView.com A clear break above $1,350 might start a decent increase towards the $1,420 level. Any more gains may perhaps open the doors for a move towards the $1,500 resistance. More Losses in ETH? If ethereum fails to recover above the $1,320 resistance, it could continue to move down. An initial support on the downside is near the $1,240 zone. The next major support is near $1,220. A downside break below the $1,220 support might spark another sharp decline. In the stated case, ether price might drop towards the $1,150 level 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 – $1,220 Major Resistance Level – $1,320

Bitcoin and other major altcoins have displayed a correlation between macroeconomic factors and virtual currencies. After the August CPI data release, almost all the crypto assets started dropping. The report data showed a higher inflation rate, increasing fear and crashing the prices of cryptocurrencies. The FOMC meeting was scheduled to hold previously. But ahead of the meeting, Bitcoin had been subjected to extreme selling pressure. Investors seem to be afraid of what the outcome of the meeting could mean to the value of the primary cryptocurrency. Related Reading: Ethereum Price Still On The Decline, Can Buyers Defend This Price Level? Bitcoin Value Is On Its Crucial Support BTC price has seen vigorous twists from last weekend to date. While the token tried to sustain its hold on the $20,000 region, it felt an increasing downward pull. Hence, Bitcoin has gradually lost value to hover around the $19K level. According to data, the $19,000 level is the 50-month average for Bitcoin. It reported that the value is the crucial support level for the primary cryptocurrency. Since 2015, BTC has been defending the level. Hence, it would be more devastating for the token once it fails to uphold the support level currently. It means that BTC investors will experience more pain and price correction. MicroStrategy (MSTR) has purchased the dip with Bitcoin’s dropped value. The software firm added 301 BTC recently. According to the CEO of MSTR, Michael Saylor, the company purchased with $6 million, giving an average price of $19,851 per token. This new move brings the firm’s total Bitcoin holdings to 130,000 BTC. Possible Implication Of FOMC Meeting After the FOMC meeting, the Federal Reserve will disclose its raise on the interest rate. This move serves as a control measure in curbing the rising inflation in the US. The Fed has been taking a hawkish stance toward inflation rise. However, it may still be tightening its measure since the CPI data is higher than the estimated value for inflation. Related Reading: Prepare For Volatility: Data Suggests Bitcoin Gets Chaotic During FOMC Meetings The policy decision from the Fed has a significant impact on the price of Bitcoin and other crypto assets. Prices in the crypto market have been discouraging as most assets are red. There could be a slight relief in the crypto market if the Fed implements a 75-bps hike on the rate. This will be in line with the expected outcomes. But the selling pressure in the market will become severe with a hike of 100 bps on the rate. Such a situation will be caused by imperiling liquidity. Featured image from Pixabay, Chart: TradingView.com

PRESS RELEASE. Iskra, a web3 community game platform that raised $40M from Korean tech giants Krust, Wemade, Netmarble, LINE Studio and others, plans to hold its first Token Generation Event (TGE) on global exchange Gate.io. The TGE is scheduled for Thursday, September 29, 2022, at 9:00 am UTC. This TGE is one of the project’s […]

My understanding is that neither Myetherwallet nor Metamask stores block heads. They connect to full nodes and send and receive blockchain data from them. Correct? If yes, then do you still call them light clients? I think it is a matter of definition, but light clients should have block heads at least, no? Or is…
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