What happens if ETH is a security?
What happens if ETH is labeled a security? How likely is it to happen? SEC and members of congress believe its a Security. Will Eth die if that happens? submitted by /u/sirauron14 [link] [comments]
What happens if ETH is labeled a security? How likely is it to happen? SEC and members of congress believe its a Security. Will Eth die if that happens? submitted by /u/sirauron14 [link] [comments]
Someone came to me today and asked me about the Amazon Token. I asked him where he has heard such a thing and he found it in the comments of different crypto youtubers, and he gave me this website. https://wnamazon.com/?amzpresale It just looked weird, so I looked on whois and obviously, it is not a…
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Bitcoin and crypto market twist has brought unexpected changes to almost all assets. Prices have been declining with little or no hope for a reversal. The FTX exchange fiasco intensified the performance as several losses have been recorded in the entire crypto space. Following the events, the price of Bitcoin dipped below its critical resistance level of $20K. Since then, the primary cryptocurrency has plummeted as the value slipped toward the $17K region. Related Reading: Data Suggests Ethereum Layer-2 Tokens May Experience Explosive Upside Over the past 24 hours, BTC could not make any significant positive movement. Hence, the token has resolved to consolidate around the $17K level. But many doubts are brewing if a storm could follow this new calmness in the future. Bitcoin Calms Around $17K Bitcoin has failed to trigger enough volatility that could push the price higher. The cryptocurrency has stalled around the $17K level during some trading hours. As of yesterday, BTC managed to hit up to $17,424. But the surge couldn’t last long as the bears suddenly took over. According to data from Binance, the primary crypto dropped to an intraday low of $16,867. However, the coin is gradually climbing upward. At the press time, Bitcoin is trading at around $16,835, indicating a drop. It boasts a market cap of about $326.81 billion, and its dominance over the altcoin is at 38.33%. Over the years, several interpretations for prolonged periods of reduced volatility have been given. One such is that it stands as a precursor toward a massive surge. Hence, the speculation on Bitcoin’s current consolidation could represent the calm before the storm. Altcoins In Red Zone The crypto market has experienced an overall drop as prices keep dropping. With the strong presence of the bears, the altcoins have painted the market red. This declining trend has cut down the overall market cap more. At the time of writing, the cumulative market cap sits at $853.33 billion. It shows a drop of about 1.39% over the past 24 hours. The performance of the altcoin has not been impressive. Most recorded a decline between 2% and 6% over the last day. The worse performers over the past day are BTSE Token and GMX. While the former dipped by 8.3%, the latter plummeted by over 7.2 % within 24 hours. Other losers include ETH with a 3.41% drop, DOGE dipped by 6.47%, XRP by 2,57%, BNB by 2.38%, MATIC by 3.17%, ADA by 3.11%, and others. However, the market saw just a few exceptions to the southward move. The best performers are Axie Infinity’s AXS and Synthetix Network’s SNX. While AXS surged by 4.4%, SNX recorded an increase of 5.4% in the last 24 hours. Featured image from Pixabay, chart from TradingView.com
On Wednesday, non-fungible token (NFT) supporters discovered that NFT metadata hosted on the platform FTX US points to broken metadata, and the links now point to FTX’s restructuring website. Specific collections that were minted on the Solana blockchain via the FTX US NFT platform do not show the NFT’s imagery and marketplace listings on the […]
The Crypto-Asset Environmental Transparency Act would instruct the Environmental Protection Agency to report on crypto mining activity consuming more than 5 megawatts.
The Digital Money Institute’s third annual payments report looks at CBDCs for the first time, as well as other payment methods, through the lens of cross-border payment utility.
The team stated on Twitter that deposits would be disabled “shortly” and withdrawals within 30 days.
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A Bitcoin on-chain metric still hasn’t formed the same condition as in the previous bottom, suggesting that the current low may not be in yet. Stablecoin Exchange Inflows (Top 10) Hasn’t Shown Any Spikes Recently As pointed out by an analyst in a CryptoQuant post, the top 10 stablecoin exchange inflows saw a rise during the July 2021 bottom. The “stablecoin exchange inflows (top 10)” is an indicator that measures the sum of the ten largest stablecoin transactions that are heading towards exchanges. The metric includes data of all types of stablecoins. Since the top ten transfers are usually from the whales, this indicator can tell us whether whales are active on exchanges or not. Usually, investors shift to stables when they want to escape the volatility associated with most other cryptos. Once these holders feel that the prices are right to re-enter these markets, they buy into other coins using their stablecoins, thus providing a buying pressure to them. When the value of the top 10 stablecoin exchange inflows is high, it means whales could be sending large amounts of stables to exchanges for buying other coins. Such a trend could therefore be bullish for the prices of cryptos like Bitcoin. Related Reading: Continued Upswing Of VIX Signals Doom For Bitcoin; But Friday Will Be Crucial Now, here is a chart that shows the trend in this on-chain indicator over the last few years: Looks like the value of the metric has been muted in recent days | Source: CryptoQuant As you can see in the above graph, the stablecoin inflows (top 10) to spot and derivative exchanges have been displayed separately, since spot platforms are what investors use for converting their coins. It seems like when the Bitcoin bottom formed back in July 2021 during the mini-bear period of the time, the spot exchange version of the metric sharply rose up. This implies that whales participated in some heavy buying during that time with their stablecoin reserves, paving way for a bullish reversal in BTC. Related Reading: Bitcoin Holders Show Rapid New Accumulation For First Time This Bear, Bottom Signal? In recent weeks, the top 10 stablecoin inflows to spot exchanges haven’t shown any significant movements, which means whales aren’t providing any significant buying pressure yet. If the past trend is anything to go by, this could be an indication that the current Bitcoin bottom still hasn’t formed. BTC Price At the time of writing, Bitcoin’s price floats around $16.8k, down 2% in the last week. Over the past month, the crypto has lost 18% in value. The below chart shows the recent trend in BTC: The value of the crypto seems to have declined during the last couple of days | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, CryptoQuant.com
submitted by /u/Major_Bandicoot_3239 [link] [comments]