Ethereum is a public ledger and by its design, it’s meant to be transparent. However, there is confusion about it being anonymous because many people still believe that the blockchain in general is anonymous, which is false. Anything can be tracked on the ledger, including the details of every transaction and deal you’ve made since…
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Hash Blockchain Limited (HBL), a member of the HashKey Group (HashKey), a blockchain asset financial services group in Asia, announced today it has received approval from the Securities and Futures Commission of Hong Kong (SFC) to operate a virtual asset trading platform, under a Type 1 (dealing in securities) license and a Type 7 (automated…
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Miners face an impossible situation if prices stay this low, which could result in a sell-off accompanied by a BTC price macro low.
Queen Maxima of the Netherlands has outlined multiple benefits central bank digital currencies (CBDCs) could bring, particularly in the area of financial inclusion. “Governments could use a digital euro to channel financial support to low-income households. This would deepen longer-term inclusion, and act as a gateway to other financial services,” she said. Queen Maxima Envisions […]
BTC’s price loses its $18,200 support as the price trades to a region of $15,700 as Binance rejects FTX takeover. BTC’s price continues to look bearish with the market’s current state, as things look uncertain for most traders and investors. BTC’s price remains weak across all timeframes as the price trades slightly below the 50 and 200 Exponential Moving Averages (EMA). In the last two days, the crypto market has been erratic, with the price of many altcoins, including Bitcoin (BTC), battling for survival after the news came out that Binance would not be taking over FTX after conducting due diligence. Previous weeks saw the price of Bitcoin (BTC) perform well, rallying from a low of $19,200 to a high of $21,800. Most altcoins trend higher as many produced gains of over 200%, including DOGE rallying from a region of $0.55 to a high of $0.15, with many hoping for more recovery bounce. Still, these expectations were cut short by the uncertainty surrounding the crypto market. (Data from Binance) Related Reading: Bitcoin Price Plunges 15%, Can Buyers Save The Key $15K Support? Bitcoin (BTC) Price Analysis On The Weekly Chart The previous week saw many altcoins produced over 200% gains over the past 7 days of breaking out of their range-bound movement, as many believe more hope is returning to the crypto space. The new week has yet to look like the previous as the week has looked choked with FUD (Fear of uncertainty and doubt), leading to many altcoins being affected negatively in price as major coins have been struggling to stay afloat from what looks like a crypto purge. The news of Binance rescuing the situation by taking over FTX was good. Still, after conducting their due diligence, Binance decided it would not take over FTX as this has affected the market negatively, sending the price of BTC on a spiral movement to $15,700 after losing its all-time support of 2017 at $18,500. The price of BTC has continued to look bearish after breaking below its all-time high support, which has served as support as a good demand zone for major plays holding off sell-offs. According to speculations, there are more chances of the price revisiting $14,000. Weekly resistance for the price of BTC – $17,500. Weekly support for the price of BTC – $15,500. Price Analysis Of BTC On The Daily (1D) Chart The price of BTC remains considerably weak in the daily timeframe as the price trades above $15,500 support after bouncing off that region to a high of $16,600, holding off the price from trending lower. If the price of BTC breaks below the temporary support formed at $15,500, we could see the price of BTC trading to a region of $14,000. Daily resistance for the BTC price – $17,000. Daily support for the BTC price – $14,000. Related Reading: Ethereum Price Approaches $1,000, Why Upsides Could Be Limited Featured Image From zipmex, Charts From Tradingview
Solana (SOL) has been one of the tokens hit by the FTX decline in the last few days. Given FTX’s exposure to the token and the fact that they hold a sizable position, it has suffered a massive decline in tandem with the FTT token. The token has already lost more than 50% of its value since the weekend. However, the bloodbath may not be over for SOL holders as some developments come to light. More Solana Being Unlocked Even with the market already being oversaturated with sell-offs, there is more SOL scheduled to be put into circulation. Previously the Solana Epoch 370 was scheduled to release about 90 million SOL into the market before the team intervened, but there is still a sizable amount of tokens left to be unlocked. Related Reading: Alameda-Backed Tokens Suffer As FTT Fights To Stay Alive In less than 10 minutes from now, Epoch 370 shows a deactivating stake of around 30 million SOL to be unlocked. Once this happens, it will flood the market with tens of millions of tokens into a space with already diminished demand. 30 million SOL set to be unlocked | Source: Solana Compass Now, previously, the whales whose token unlocks have happened would re-stake some or all of the tokens, but that was when the price of SOL was still high and the market remained strong. With so many shorting the market and SOL prices expected to fall lower, it is likely that the owner of these tokens would sell their tokens instead of staking them once more. The impact of this unlock could be catastrophic for the price of the digital asset. Think single-digit SOL prices for the first time in more than a year. The bears will likely continue to hold the market hostage, dragging the price of SOL and others down with it. SOL price falls to $16 | Source: SOLUSD on TradingView.com Solana has already been kicked out of the top 10 largest cryptocurrencies by market cap since it began its decline. The token now sits at the 13th spot with a market cap of $5.5 billion. If these tokens being unlocked find their way to the open market, it could be another red day for the digital asset. Related Reading: Crypto Market Liquidations Reach $830 Million, When Will It Stop Bleeding? SOL price is down 24% in the last 24 hours and 10% in the last hour. On a 7-day period, its price is already down 55% to be trading at $14.11 at the time of this writing, according to data from Coinmarketcap. Featured image from Crypto News, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
Amidst the drama surrounding the busted deal between FTX and Binance, banking giant JP Morgan has commented on the current state of Bitcoin and the broader crypto market. If FTX does file for bankruptcy, the contagion could be massive. As Bitcoinist reported today, FTX CEO Sam Bankman-Fried confirmed in a call with his investors shortly before Binance dismissed his bailout that the hole in the balance sheet is $8 billion. Related Reading: Bitcoin Price Plunges 15%, Can Buyers Save The Key $15K Support? An anonymous source leaked that the troubled exchange is seeking bailout funding in the form of debt, equity or a combination of both. With Singaporean state-owned Temasak and TRON founder Justin Sun, there are currently at least two small sparks of hope. JP Morgan Forecasts Gloomy Times For Bitcoin The looming insolvency of FTX continues to weigh heavily on the Bitcoin price at the moment. At press time, Bitcoin was trading at $17,767, down 9% over the last 24 hours and down 19% over the last seven days. Exactly one year ago, on November 10, 2021, BTC reached its previous all-time high of $69,045.00, which represents a price drop of around 75% at the current rate. However, according to the latest report from JP Morgan, it could go even lower as the market faces a “cascade of margin calls.” According to JPMorgan strategists led by Nikolaos Panigirtzoglou, the Bitcoin price could fall as low as $13,000. Moreover, the analysts warn in the report that the cascade effect could be amplified due to the current conditions of the market: What makes this new phase of crypto deleveraging induced by the apparent collapse of Alameda Research and FTX more problematic is that the number of entities with stronger balance sheets able to rescue those with low capital and high leverage is shrinking” in the crypto sphere. According to JP Morgan, a renewed miner capitulation deems a major risk factor. In particular, the U.S. banking giant believes Bitcoin could fall below its production cost, currently averaging around $15,000. At the moment, this production cost stands at $15,000, but it is likely to revisit the $13,000 low seen over the summer months. As a result, more miners like Core Scientific recently may be forced to sell their Bitcoin holdings, putting additional selling pressure on the market. Riot Blockchain, one of the largest publicly traded Bitcoin miners, recently released its latest quarterly report, revealing the state of its finances and operations. Related Reading: Bitcoin Bear Markets Compared: How Much Longer Till The Bottom? | BTCUSD November 9, 2022 As Jaran Mellerud of Hashrate Index discussed, nothing is more important in a bear market than a healthy balance sheet. Riot has a solid balance sheet with minimal debt, which is reflected in their low debt-to-equity ratio. The majority of the top 10 listed Bitcoin miners boast similarly good or even better numbers. Nothing is more important in a bear market than having a healthy balance sheet. Riot has a solid balance sheet with minimal amounts of debt. pic.twitter.com/viWEVUErbP — Jaran Mellerud (@JMellerud) November 9, 2022 However, with Hive, Spere 3D, DMG and CryptoStar, there are also four miners that have higher debt-to-equity ratios.
Sam sent these messages to the company slack. He states that his first priority is to make all customers whole and he plans to do that via a raise which may include FTX US as well. Fundraising options with binance have been exhausted, but Justin Sun seems interested in helping out. However from his tweets,…
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Can anyone help me create a Geth events subscription to get real-time logs of an address? I used this data to create a subscription, but the server did not return anything: {"id": 1, "method": "eth_subscribe", "params": ["logs", {"address": "0xe592427a0aece92de3edee1f18e0157c05861564"}]} submitted by /u/notooth1 [link] [comments]
The NFT marketplace has clarified its stance on creator royalties after receiving significant public backlash from an earlier post.
