Category: Cryptocurrency News

“Staying at the forefront of digital innovation is a key priority for Nomura,” said president and group CEO of Nomura Holdings Kentaro Okuda.

Ethereum’s recent upgrade has pushed miners out of its network. Now Ethereum 2.0 support validators who staked 32ETH and above in the network. The community expected the merge to push the price of ETH and other cryptos up. But the reverse became the case afterward. Related Reading: Ethereum: Can The Top Altcoin End Bitcoin’s Dominance Post Merge? A few minutes after the event on September 15, Bitcoin lost $1K. Ethereum also lost more than $200, plummeting from $1,635 to $1471 same merge day. The next few days, on September 18, ETH price shaded off more and landed on $1335.33.  Currently, on September 21, Ethereum is trading at $1344.45. This price shows a 0.17% price decrease in 24 hours. Its hourly gain shows 0.17%, but the 7 days price movement indicates a 15.91% loss.  Ethereum Miners Dump ETH Holding Increasing Pressure  Recall that Ethereum is no longer operating with a proof of work consensus mechanism. The combination of its Beacon Chain and mainnet has rendered miners useless on the network, replacing them with validators. Even though the miners hard-forked the network creating the ETHPOW, the new network has suffered attacks and is not yet as strong and promising. The crypto market expected a price reversal from bearish to bullish after the Ethereum upgrade. But after the event, the ETH price dropped, and the supply of ETH increased. This is not surprising because miners started disposing of their ETH coins before the merge. Ethereum miners initially gained 13,000 ETH every day on the PoW network. But on the new PoS, validators get only 1600 ETH. Miners’ rewards dropped by 90% after the merge, which could have lowered ETH supply advantageously, pushing the price upward.  Unfortunately, Ethereum miners have dumped up to 30K ETH holding due to the price movement and the upgrade effect. This was the reason behind Ether’s price plunge from Merge day. The continuous selling added pressure on investors causing more price losses.  The current state of crypto assets is not promising. Many enthusiasts are also dumping their holdings as prices continue to plummet. What is the Implication for Ethereum?  As miners continue dumping their ETH on the market, the price of Ether will keep falling. Even though the other factors that could have boosted the price remain positive, miners’ exit from the Ethereum market has worsened everything for ETH.  Currently, many analysts are predicting that Ethereum might drop to $750. If the miners continue selling spree coupled with the macroeconomic factors, that price level will likely occur soon.  Related Reading: Post-Merge Profit-Taking Cuts 13% Off Ethereum Ratio Against BTC Moreover, the upcoming Feds rate hike is causing panic already. Many investors dread the announcement as it might make the market bullish or bearish. If the rate stays 75 bps, there’s no problem. But the market is in trouble if it goes high to 100 bps.  Featured image from Pixabay and chart from TradingView.com

So with ETH now being proof of stake, and already >50% of staked eth being held by only 4-5 entities, how safe is the network if these entities liquidate their position and make way for other potential bad actors? Or if bad actors stake enough to makeup 51% of staked eth? Or any other number…
Read more

submitted by /u/unitys2011 [link] [comments]

submitted by /u/KAX1107 [link] [comments]

The monetary authority is developing a wholesale CBDC separately and earlier; it is looking at prospective retail use cases despite the lack of an “imminent role” for the currency.

The crypto market has recorded many devastating events in recent times. Since the market crash in May, crypto asset prices have behaved differently every week. Sometimes price outlook is positive, but other times, it is worse.  From September 15 to date, the volatility in the market has skyrocketed. Asset prices are more bearish than bullish. The merge brought a series of price fall starting from Bitcoin, which lost $1000 a few minutes after the upgrade.  Related Reading: Investors Withdraw ETH Holdings Despite Successful Ethereum Merge Ethereum and other altcoins also lost their price gains and have continued trading in red till September 21. But amid the bloodbath, Ripple has continued adding instead of losing.  Ripple’s XRP Price Keeps Appreciating Ripple XRP has continued adding at least 6% every day recently. XRP price history from the time of the market crash to date shows that the coin hasn’t recorded a terrible plunge yet. It has continued trading around a price range of $0.3733 and $0.3421 through the months after the crash.   Currently, Ripple XRP price stands at $0.3968, showing a price decrease of 5.20% in the last 24 hours, adding over 17% in the week. Early on September 21, the coin gained above 6% before settling down. This price gain is marking a continuous addition in three consecutive days.  On September 20, Ripple XRP gained more than 6.38%, pushing its price to $0.3788. On the same day, its 1-hour gain and 7 days price growth were all green, indicating a positive trend. Following the uptrend, experts predicted that XRP might climb above $0.40, which occurred today.  Ripple was also affected on the merge day as it dipped to $0.3256 at the close of the market. But a few days later, on September 20, ripple spiked to $0.38, kicking off a three-day price gain to September 21.  It is not surprising that Ripple is adding amid the bloodbath in the crypto market. The major event that could spike such positive sentiment remains the upcoming ruling on its case with the Securities and Exchange Commission.  The battle that started in 2020 is seemingly coming to an end. Both Ripple and SEC have called on a Federal Judge for a ruling. The recent event has kicked off a positive market sentiment towards XRP.  How is The Rate Hike Expectation Affecting the Market?  Today is the long-awaited day for the Feds meeting. The market is anticipating a new interest rate increase after long deliberations. The fear of the outcome has kept many crypto asset prices in the red.   For instance, Bitcoin price continues to struggle around the $19k level. Currently, BTC is trading at around $19,263 on the TredingView price chart. The price has continued to fluctuate since the day broke on September 21.  Notably, the price started in red but has regained a little pushing its 1 hour and 24 hours gain to the green side. But bitcoin 7 days price is still in red, showing 5.17% losses.  Ethereum and other altcoins also started off in the red this morning. But at the time of writing, ETH has added 0.84% and 0.50% to its 1-hour and 24hrs gains, pushing them to the green side. But its 7 days price loss is still red at 15.35%, making it a leader amongst others.  Related Reading: Report Shows Ethereum Might Take Another Hit, Is It Possible? After the announcement today, crypto prices might plunge or start a slight recovery. If the Feds continue with the 75 bps, the sentiment might be positive.  But a hike to 100 basis points will send the market galloping downhill.  Featured image from Pixabay and chart from TradingView.com

Kusama (KSM) looks bullish on a lower timeframe. Kusama (KSM) price eyes a reclaim of 50 Exponential Moving Average (EMA) on the daily timeframe.  Kusama (KSM) price aims to break above 50 EMA in the 4H timeframe. Kusama (KSM) has had a tough time recently but has shown great strength bouncing up in higher and lower timeframe. Kusama (KSM) price has struggled to remain bullish as the price fell from an all-time high of $600 to $38, with the price maintaining a downtrend with little hope of a relief rally or bounce against tether (USDT). (Data from Binance)  Related Reading: Aave (AAVE) Attracting Whales Over Past Few Months – Will It Spur Price Rally? Kusama (KSM) Price Analysis On The Daily Chart  Despite a decline in its price from $600 to $38, over 70% decline from its all-time high, the price of KSM has shown great strength as it bounced from its daily low of $38 to a high of $43 as price eyes a major resistance at around $50. The price of KSM needs to break and hold above this resistance for the price to trend higher.  The price of KSM on the daily chart looks strong despite seeing some volatility across the crypto market, with eyes set on breaking the daily resistance of $50. KSM price needs to break and hold above this region to assume more bullish sentiment; if the price gets rejected, we could expect the price of KSM to retest $45-$40. REEF’s price is trading at 0.0048$ below its resistance; the price of REEF needs to hold above $0.007 to avoid the price from going lower due to the sell-off. If the REEF price holds this region, there could be more belief of a rally to its resistance at $0.007 and possibly breaking and holding above this region. Daily resistance for the price of KSM- $50. Daily support for the price of KSM – $38. Price Analysis Of KSM On The Four-Hourly (4H) Chart The 4H timeframe shows the price of KSM, after touching a low of $38 price bounced to a region of $43, where it attempts to break above the 50 Exponential Moving Average (EMA). On the 4H timeframe, the price of KSM is currently trading at $43, just below the 50 Exponential Moving Average (EMA), trying to break and hold above this region, acting as resistance for the KSM price. The price of $43 corresponds to the resistance at 50 EMA.  If the price of KSM fails to reclaim this major area, we expect the price to retest the region of $40 for more demand to push the price to a higher height. The Relative Strength Index (RSI) for KSM is above 50 on the four-hourly chart, indicating decent buy order volume.  Daily resistance for the KSM price – $45. Daily support for the KSM price – $38. Related Reading: Optimism Analysis: Latest Figures Could Induce Investor Trust Featured Image From Capital, Charts From Tradingview

Bitcoin and altcoins rallied ahead of the Fed’s rate hike decision, indicating that traders viewed the 0.75% rate hike as a “priced-in” event.

The new MVP License is a transition from a provisional license received under a new regulatory framework earlier this year.