Category: Cryptocurrency News

Data shows the Ethereum Proof-of-Work forks have sharply fallen down in the few days following the merge. Ethereum PoW Forks Have Fallen 66% In Just Five Days According to the latest weekly report from Arcane Research, the ETH PoW forks have performed very poorly against ETH since the merge. The much talked-about event transitioned Ethereum to a Proof-of-Stake consensus mechanism, essentially obfuscating the use of miners on the network. However, some communities that were in favor of the old PoW-based system decided to create forks as the merge came approaching. These new forks still rely on mining for reaching consensus on the network and have therefore naturally attracted the stranded ETH miners. Related Reading: Bitcoin Long-Term Holder Dumping May Have Been Behind Revisit Below $19k Here is a chart that shows how some of the most popular forks (ETC, ETHW, and ETF) have compared versus Ethereum in the last five days: Looks like the worst performer out of these was ETF | Source: Arcane Research’s The Weekly Update – Week 37, 2022 As you can see in the above graph, Ethereum has been struggling since the merge, registering around 17% in negative returns. The PoW forks, however, have been even worse. ETHW has noted losses upwards of 66%, while ETF investors have been yet deeper into the red with their holdings going down by more than 72% during the period. The best of this bunch was Ethereum Classic, being down “only” 25% in the last five days. This performance was much better than the other two forks, but still noticeably lower than ETH’s returns. Related Reading: Investing In Uniglo (GLO), Bitcoin (BTC), And Ethereum (ETH) Is The Shortest Road To Your First One Million Dollars The report notes that this wasn’t something unpredictable as the forks were expected to struggle with amassing any meaningful adoption and to view almost no significant DeFi activity. The current selling pressure in these cryptos is likely coming from Ethereum holders selling off their airdrops, as per the report. ETC saw a large amount of ETH miners connecting to the network, leading to a hashrate, and hence a difficulty, explosion for the coin. Since Ethereum Classic’s miner revenues are less than $1 million per day, while they were more than $20 million for ETH, mining the crypto isn’t viable on the same scale as ETH’s in the long term. ETH Price At the time of writing, Ether’s price floats around $19.1k, down 5% in the last seven days. Over the past month, the crypto has lost 10% in value. The below chart shows the trend in the price of the coin over the last five days. The value of the crypto seems to have failed to recover from the plunge a few days back | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Arcane Research

The U.S. Federal Reserve raised the federal funds rate on Wednesday afternoon by three-quarters of a percentage point. The central bank’s move follows the consumer price index (CPI) report last week that showed U.S. inflation jumped last month by 8.3% per annum. Fed Raises Federal Funds Rate by 75bps anticipates ‘Ongoing Increases’ On September 21, […]

Ryo Matsubara, representative director of Oasys, told Cointelegraph that Japanese gaming giants have a long-term vision for blockchain gaming.

submitted by /u/Crypto-Jim33 [link] [comments]

PayPal is promoting that you can send ETH to external wallets, this is a lie. They are holding thousands of users ETH for ransom. DO NOT USE PAYPAL. See my whole thread on the topic below in the paypal subreddit. https://www.reddit.com/r/paypal/comments/xk9iit/do_not_purchase_crypto_on_paypal/?sort=new submitted by /u/Riledup2020 [link] [comments]

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

The firm is also in the process of testing a digital euro together with the European Central Bank.

submitted by /u/samdane7777 [link] [comments]

The number of “whale” addresses in AAVE has recently increased. Whale addresses are digital currency addresses that store 1 million or more of a particular coin. AAVE is currently riding a wave of whale-like popularity. AAVE is currently riding a wave of whale-like popularity. A 55 percent of the AAVE coins are held by addresses with 1,000 to one million tokens, per Santiment. That’s a big jump from the 48% investors saw in the first half of June. This increase in whale addresses may be attributable to new AAVE features. AAVE recently tweeted on the company’s recent achievements in the present DeFi industry. We may expect an increase in the number of services that make use of the AAVE ecosystem over the coming years, as funding has been awarded to more than 26 different beneficiaries. Staking the token on the ecosystem can now generate instant returns thanks to the company’s cooperation with Flashstake. Related Reading: ETH Backpedals After Hitting $1,800 Ahead Of Merge Last Week AAVE TVL Increasing As Well Using the governance token, users may lend and borrow cryptocurrencies and real-world assets (RWAs) directly from one another, cutting out the need for a trusted third party. Investors gain interest when lending money and lose it while borrowing money. The TVL of the system has increased to $1.17 billion, from $1.09 billion on September 14th, since tweets describing current changes in the ecosystem were released. When the TVL number goes up, trade volume goes up with it. The token’s 24-hour trading volume increased from $74,494,475 on September 18 to $145,288,857 on September 20, according to publicly available data. This represents a massive growth of nearly 49 percent. As of the time of writing, this figure decreased by 19.5 percent to $116,733,735. Although the long-term outlook for AAVE may be favorable, the short-term outlook is not promising. Despite the significance of the advancements, the token is still subject to market conditions. The token has already lost 14 percent of its September 17 gains. Related Reading: Bitcoin Price Bottom To Take Place In Q4 This Year, Crypto Expert Predicts Positive Developments Help The Token Recover The price decline can be attributed to the deteriorating macroeconomic conditions in the first half of September. Due to the market’s climate of dread, the crypto winter will persist until the end of the year before conditions improve. Recent economic developments will influence the broader financial markets, particularly the cryptocurrency market. But recent developments can assist AAVE in recouping its losses. Recently, NASDAQ announced its entry into the cryptocurrency market. Their justification was that institutional investors’ interest in digital assets has increased. Despite the fact that their approach is still cautious because crypto exists in a legal murky area, this is still a big milestone in the crypto industry. AAVE has been a part of the cryptocurrency market as a lending and borrowing platform. As the crypto winter persists, services such as AAVE will become indispensable for surviving the current market conditions. AAVE total market cap at $1.02 billion on the daily chart | Source: TradingView.com Featured image from The Coin Republic, Chart: TradingView.com (The analysis represents the author’s personal views and should not be construed as investment advice).

Jim Cramer is still up there defending his title as best market indicator if you inverse him. Even in this bear market he does not shy away from making overly bullish statements. Mostly for stocks but he even made some for Crypto eventho he hates crypto apperantly. One of his predictions on April 28th was…
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