The cryptocurrency and mining law that the Paraguayan Congress passed in June was finally shelved on Dec. 5. The document, which sought to bring order to crypto mining and exchange activities in Paraguay, was ultimately dropped after failing to obtain the votes needed to reject the presidential veto it received. Paraguayan Crypto Law Dropped After […]
As the bear market continues, Ethereum – the second-biggest cryptocurrency – continues to struggle. If you look at the data from CoinGecko, the most notable positive change is 4.1% on the bi-weekly timescale. The red flashing of the longer time scales, however, indicates that ETH has been declining in value since the FTX collapse, and this fact overshadows the shorter time scales. The upswing was triggered by a sudden increase in demand for prime real estate The descending triangle, a confirmation of a rally, is formed in part by accumulation blocks To push prices higher, ETH buyers need to break over the $1,306.66 barrier However, a number of indicators are suddenly showing optimistic signs. With the price of ether at $1,283 right now, recent headlines have reported a sharp increase in the number of holders with 32 ETH or more, or around $40,000. Unfortunately, the number of functioning addresses on the blockchain did not expand in tandem with the number of addresses holding significant amounts of cryptocurrency. Related Reading: Up Or Down? What To Expect From Solana (SOL) In The Homestretch Of 2022 Chart: TradingView Possibly Creating A Rally? Contrary to the rise, CryptoQuant reports that the number of active addresses fell on December 7th. Another bullish indicator is the sharp drop in foreign-exchange reserves that has coincided with the rise in the number of high-value addresses. ETH created two bullish order blocks before the increase in high-value addresses. The price of ETH increased by 14.33% and 12.94% during the first and second bullish blocks, respectively. The increase of high-value addresses has not yet been reflected in the price, as the price has decreased throughout this time period. Recent market moves have also contributed to the creation of a bullish descending triangle. The regression channel, which has a Pearson’s R value of 0.6824, bolsters this bullish finding. This indicates that the upward breaks of the upper half of the regression channel correspond to a significant upward trend. Quite Surprisingly Bullish The moving average of the Bollinger band acts as resistance at $1,252.15, thereby prolonging this surge. With the RSI rising and the MFI turning bullish, though, the ETH price should explode. Consequently, ETH bulls should initially aim for $1,306. If momentum permits, a further target of $1,348 would indicate that this is the relief rally that ETH holders have been anticipating. The construction of bullish order blocks, the decline in exchange reserves, and the increase of high-value addresses led to the current state of affairs. With Bitcoin’s bullish trend, the future of Ethereum appears to be very bright. Related Reading: Solana Price Falls Below $14 – Does This Signal A Gloomy Week For SOL? ETH total market cap at $156.7 billion on the daily chart | Featured image – The Block, Chart: TradingView.com
Bitcoin retains $17,200 after an overnight squeeze takes BTC price action to within reach of one-month highs.
I'm freaking the fuck out right now. I tried bridging a substantial amount of weth to eth for the first time on my coinbase wallet via the polygon network because thats what sources online said to do. the transaction said it was successful immediately but my weth just disappeared from my wallet and none of…
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A group chat including crypto leaders shows Binance’s Changpeng Zhao accusing FTX’s Sam Bankman-Fried of orchestrating trades to destabilize the industry. In the Nov. 10 texts, Mr. Zhao specifically accused Mr. Bankman-Fried of using his hedge fund to drive down the price of Tether, a so-called stablecoin whose price is designed to remain at $1.…
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Gm! Having a problem with a Next.js app. Anyone familiar with wagmi library for React know why my dapp is defaulting to the defaultProvider()? Even after removing the default from the chain configuration completely. Browser debug doesn't seem to be properly reading my API keys from my environment variables. I've never had this problem when…
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Kevin O’Leary fessed up to making a massive mistake with FTX, and is working to find out where his money went amid the bankruptcy.
I did it through Ledger Nano S+, but when I try to swap on Nano S+ it appears to be blacked out, and when I hover over it, it says "This currency is not available for swap yet". When will it be available for swap? submitted by /u/AshliepShuqirvut [link] [comments]
Sam Bankman-Fried has been the subject of many lawsuits and investigations since the collapse of FTX, with more likely to follow.
The Office of the Comptroller of the Currency (OCC) said the digital asset industry was maturing but was “not yet robust” in its risk management.
