On Tuesday, the hardware wallet manufacturer Ledger announced the launch of a new device called Ledger Stax. The machine was designed by iPod creator, Tony Fadell, and the France-based firm Ledger says the new device was built with “uncompromisingly secure architecture.” iPod Creator Tony Fadell Partners With Ledger to Launch a New Crypto Hardware Wallet […]
The State Department should submit a report on the use of cryptocurrencies as a viable reward payout with evidence that suggests it’s more encouraging for whistleblowers.
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BBC reports that Ethereum's PoS power-save is equivalent to Ireland's entire energy usage https://www.bbc.com/news/technology-63872983 Meanwhile, the climate damage from mining Bitcoin has grown 125% in 5 years – with no improvement in sight https://news.mongabay.com/2022/12/climate-damage-from-bitcoin-mining-grew-more-than-125-times-worse-in-just-five-years/ Ethereum isn't just greener than Bitcoin now. It's a whole different colour. submitted by /u/rhinofi_intern [link] [comments]
Solana is among the hardest hit by the demise of FTX, as the two companies have collaborated to establish Serum, a decentralized derivatives market. This led to Solana being closely associated with the Sam Bankman-Fried crypto exchange, with more than $900 million worth of SOL being held by FTX. Let’s have a quick overview: The company’s fundamentals are strong, therefore it should be able to start making money again soon. Constant pressure from technicals and bearish market circumstances keeps the price low. Metrics, though, suggest SOL is making progress in its recovery from the catastrophe. Founder and CEO of the IBC Group Mario Nawfal has stated that the token’s fundamentals are “strong,” noting the token’s development growth, a healthy NFT marketspace, and a relatively high daily transaction volume compared to other L1 chains as evidence. With SOL registering an increase in the weekly and bi-weekly timescales, is the token really recovering? Related Reading: Quant Shows Potential For Surge Beyond $150 – Can QNT Hit Its Target? SOL’s Fortunes Have Yet To Improve Despite Nawfal’s assertions, the data shows that token and ecosystem indicators are not looking well. Messari data indicates that the asset’s volatility is at an all-time high of 2.00, suggesting that the asset is more likely to move during this period, whether bullish or bearish. Sharpe’s ratio, which currently stands at -3.73, indicates a pessimistic near-term outlook. This indicates that SOL’s returns in relation to its volatility are close to or equal to zero. With a rising triangle, SOL technicals continue to support the bearish trend. The RSI is overbought on the 4-hour time frame, which drives the signal towards a bearish crossover. The MFI confirms the bearishness of SOL as it declines in tandem with the price. At the time of writing, SOL is trading at $13.836 with a red candle. At of time of publication, the top and lower halves of the Bollinger band was $14.3602 and $13.3052. It also places SOL in a risky position, as a crunch zone appears to be building. Too much FUD around Solana. The fundamentals look solid: Dev growth second to ETH NFT volume surprisingly healthy FTX collapse makes SOL MORE decentralized Nakamoto Coefficient👌 SOL daily transactions higher than all other L1s Am I missing something? — Mario Nawfal (@MarioNawfal) November 27, 2022 SOL And FUD Even with excellent fundamentals, the EMA ribbon is in the midst of a bearish crossover, making recovery tough for SOL bulls. Solana struggles to deal with the fear, uncertainty, and doubt around its ecosystem and SOL coin. For a recovery to even be a chance, maintaining support at $13,0769 is beneficial. With a CMF of -0.07 and a bearish cross on the MACD, the price of SOL should decline to $13.0769 or below. Related Reading: LINK Price Keeps Steady With 7% Surge In Last 7 Days, But Things Might Change Crypto total market cap at $796 billion on the daily chart | Featured image: TheNewsCrypto, Chart: TradingView.com
With investors moving their funds away from exchanges into self-custody, market liquidity concerns are an immediate threat to struggling crypto businesses.
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Hedera (HBAR), the native and energy-efficient cryptocurrency of an open source public distributed ledger bearing the same name, started the year on a high note, peaking at $0.3282 on January 5. But the crypto asset failed to keep up its momentum and gradually declined over time until it fell below the $0.10 marker on May 13 when it bottomed at $0.0870. HBAR continues to struggle in reclaiming the $0.10 territory Hedera technical indicators currently show no signs of an immediate reversal The crypto asset increased its market cap by $400 million in just 24 hours Since then, the altcoin struggled to climb back up and its woes were compounded by the negative effects of the collapse of the FTX cryptocurrency exchange platform. On November 10, Hedera recorded its 2022 low when it changed hands at $0.0439 and is not showing any signs of initiating a bullish run anytime soon. Its relevant technical indicators are also nothing to be excited about as they are not indicating an upward push that may happen over the next few days or weeks. Not Much To Look Forward To For Hedera? According to latest tracking from Coingecko, at the time of this writing, HBAR is trading at $0.0482 and is dangerously close to the lowest level it has been this year. The crypto has lost 2.7% of its value during the previous seven days and its bi-weekly gains only stand at 3.3%, although it managed to increase its market capitalization by $40 million over the last 24 hours and now has $1.20 billion in overall valuation. Sadly, the altcoin’s Relative Strength Index (RSI) is no better than its 12-month low despite some episodes of minor upticks in this particular department. Related Reading: TRON Ecosystem To Undergo Changes – A Bane Or Boon To TRX Price? Source: TradingView Hedera’s Money Flow Index (MFI) is also leaning towards the bearish side as it signals a noteworthy accumulation rate over the previous two weeks. Finally, the weighted sentiment metric for the cryptocurrency has been on a status quo during the last few days, hinting that there is no significant level of demand for the asset to help trigger a surge in its price. Preparing Amid The Bear Market While Hedera failed to emulate the likes of Litecoin (LTC), ApeCoin (APE) and Axie Infinity (AXS) that recorded price jumps during this crypto winter, its network took advantage of the time to prepare for the long game. Using Twitter, HBAR Foundation shared a clip from the recent interview of the network’s VP for Ecosystem Acceleration, Rob Allen. The @Hedera network is providing utility throughout every sector, across every use case. Bear markets are for #BUIDLing 🐻 pic.twitter.com/LsiN7BSiSD — HBAR Foundation (@HBAR_foundation) December 4, 2022 While Allen certainly admitted they were affected by the bear market, he claimed that they continued to work in improving their system with the primary goal of increasing the utility of their native token, HBAR, across various sectors. With this, he has expressed his excitement about what awaits their crypto asset when the next bull market comes, saying he has high hopes and expectations for its long-term recovery. Related Reading: LINK Price Keeps Steady With 7% Surge In Last 7 Days, But Things Might Change HBAR total market cap at $1.09 billion on the daily chart | Featured image: The Daily Hodl, Chart: TradingView.com
