Category: Cryptocurrency News

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The chairman of the rural bank Jean Chalopin also happens to be the chairman of Deltec Bank, which has Tether and Alameda both on its client list.

ConsenSys says the IP address data collected through MetaMask users will not be monetized or “exploited.”

Bitcoin.com, a digital ecosystem and secure self-custody platform where users can safely and easily interact with cryptocurrencies and digital assets, has joined the Chainlink BUILD program to help accelerate the adoption of VERSE ecosystem dApps and receive increased technical support for Chainlink’s time-tested Web3 services—which include verifiable randomness, decentralized price data, and reliable smart contract […]

Bitcoin is printing significant bullish divergences with BTC price in line for a “massive bull run,” new analysis argues.

The downfall of FTX has also left its mark on the Ethereum (ETH) price. Over the last 30 days, Ether has recorded a drop of around 20%. At press time, the price was at $1,171, just above the crucial support level of $1,100. In the short term, the ETH price has found support at $1,171. However, if the key resistance at $1,230 is not breached in the next few days, a retest of the level at $1,100 could be on the cards. An important on-chain indicator for Bitcoin indicates that this does not have to be the case. Since the crypto market is heavily dependent on Bitcoin as the largest cryptocurrency by market cap, a bottoming of BTC, could also mean accelerated gains for altcoins, led by Ethereum. As cryptocurrency exchange ByBit notes in its analysis of the market today, the MVRV (Market Value to Realized Value Ratio) of short-term Bitcoin holders has exceeded that of long-term holders (HODLers) for the first time this cycle. Related Reading: Ethereum Price Recovery Could Soon Fade If ETH Fails To Surpass $1,250 The MVRV shows periods of market euphoria when the market value was significantly higher than the realized value, meaning the cost basis for Bitcoin purchases. “This could suggest a possible bottom formation, especially when direction traders are doing better than HODLers with strong convictions,” the analysis states. Ethereum: EIP-4844 Implementation in March? Meanwhile, Ethereum investors can look forward to highly positive news. As Tim Beiko summarized, Ethereum developers are working towards including EIP-4844 (also known as proto-danksharding). This is a highly anticipated scaling proposal, in a future mainnet upgrade. Whether EIP-4844 will be rolled out with Shanghai in March is currently pending. However, a decision could be made on December 08. This is when the next ACD, the last one in 2022 will be held. Beiko stated that” it’d be great to wrap up the year with the final specs for Shanghai”. Related Reading: Bitcoin Price Faces Rejection, Why BTC Could Resume Its Downtrend So far, EIP-3651 (Warm COINBASE), EIP-3855 (PUSH0 statement), EIP-3860 (Limit and counter init code) and EIP-4895 (Beacon chain push withdrawals as operations) are guaranteed for the Shanghai hard fork of Ethereum. EIP-4844 is intended to introduce a new transaction format called shard-blob transaction. This allows data to be stored off-chain and accessed temporarily by Ethereum nodes. Liam Horne, CEO of OP Labs, the developer of Optimism that uses roll-ups, expressed that L2 fees could become much cheaper. “This is a GAME CHANGER for the rollup-centric roadmap, as fees could be lowered ~100x,” Horne said. Ethereum co-founder Vitalik Buterin commented on EIP-4844 as following: This is a crucial first step to massively lower fees on L2, helping to make it affordable for much larger numbers of users to directly use on-chain applications instead of relying on cefi intermediaries. Yesterday, the broadest commitment across all developer teams was that EIP-4895 should happen quickly, ideally around March. “There are other things they [the Ethereum client teams] are working on in parallel, and if these can make it at the same time, we should include them, but withdrawals guide the fork,” Beiko summarized. At the same time Beiko confirmed that EIP- 4844 is the second most important thing. Thus, if all goes according to plan, proto-danksharding still has a chance to be integrated in the Shanghai hard fork.

The Digital Asset Exchange Joint Consultative Body (DAXA), the South Korean association of crypto exchanges, announced on Nov. 24 that the WEMIX token would be delisted. In justifying the decision to delist WEMIX, the association claimed the information provided by the token’s issuer Wemade is false and has confused investors. Discrepancy Between WEMIX Circulating Supply […]

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Litecoin (LTC) is currently experiencing a sharp price correction, going down by more than 4% during the last hour, according to latest tracking from Coingecko. At the time of this writing, the crypto asset is trading at $75.94 after hovering around the $78 region for most of the day. With its recent price dump, the altcoin trimmed its seven-day gains to 20% from a high of 33% this week. Still, LTC’s current performance is impressive as it managed to go up by 33.5% over the last 30 days. Litecoin caught the attention of many crypto enthusiasts on November 23 when it went on a bullish run that enabled it to reach the $81 marker and increase its market capitalization by more than $1 billion. Currently, in that category, LTC ranks 13th in Coingecko’s list, keeping an overall valuation of $5.39 billion. Related Reading: Polkadot Soars 8% In Last 24 Hours Courtesy Of Its Dev’t Activity, NFT Ecosystem Growth What It Would Take For LTC To Hit Higher Levels Next Month By besting the likes of Bitcoin and Ethereum in terms of weekly gains, Litecoin put itself in the position to be among the crypto assets that experts are keeping an eye on. In fact, crypto trading expert Rekt Capital shared his thoughts about the conditions that must be met by LTC in order to sustain its energy and perform better come December. “LTC upside wicks have gone up to as high to the $85-$98 region before ultimately rejecting there. Price needs to Monthly close & hold above $67 to move higher next month,” said the pseudonymous crypto figure. Rekt Capital also pointed out that given Litecoin’s history of being rejected from the greater demand region, it needs to keep the $67 price territory when November ends for its uptrend to be confirmed and for it to test higher price levels. Analyst Bullish About Momentum For Litecoin Meanwhile, well-known crypto analyst Altcoin Sherpa also shared its take on what awaits Litecoin following its impressive run despite the bearish market that now engulfs the crypto space. It noted that after LTC successfully flipped its 200-day Exponential Moving Average, there is no doubt that the next stop for the crypto asset is the $100 territory. That though, could only happen if the digital asset is able to continue its upward trend. Cryptocurrency data provider Coincodex, however, might have to disagree with this bullish sentiment for the altcoin as its forecasts are not looking good for Litecoin right now. According to its prediction, in five days, LTC will trade at $74.60 and one month from now, the asset will change hands at $62.04. Although Litecoin might have the chance to close November with a higher trading price than the $67 crucial marker, it would appear the asset is in for another downhill drive as the tail-end of 2022 nears. Related Reading: SUSHI Latest Feats Are Quite Impressive, But Crypto Must Overcome Rough Terrain LTC total market cap at $5.3 billion on the daily chart | Featured image from Sweden.se, Chart: TradingView.com

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