Category: Cryptocurrency News

The Ethereum Proof of Work (ETHW) token had piggybacked off the popularity of the Ethereum Merge. In a bid to maintain the network in its original mechanism, developers had forked the Ethereum network,  creating their own token in the process. The ETHW had been launched after the Merge was completed and was airdropped to ETH holders. The digital asset then suffered massive declines just days after launch.  Ethereum Proof Of Work Recovers The Ethereum Proof of Work (ETHW) token distribution had been ongoing for days after the Merge. The reason for this was exchanges needed more time to distribute the tokens to their customers who currently hold ETH on their balances. Binance was the most recent crypto exchange to complete its distribution, giving the digital asset a much-needed boost. Related Reading: Cardano (ADA) Price Fails To Break $0.5 Despite Vasil Hype It was in the early hours of Tuesday when the largest crypto exchange in the world had completed its ETHW distribution. The crypto exchange had also opened deposits and withdrawals for the cryptocurrency, promptly increasing the demand for ETHW. Following this, the price of ETHW had added more than 30% to its value in a matter of hours. It broke out of the $5 range, which it had been trending in for the last couple of days, and barreled above $7 at the rally’s peak. ETHW grows 30% in a single day | Source: ETHWUSD on TradingView.com The rally has since leveled out, but the digital asset continues to lead the crypto market in terms of gains. It is currently number 1 on the Top Gainers list on Coinmarketcap, which lists the 24-hour gains for the digital asset at 33.64%. ETHW Poised For More Gains? Ethereum Proof of Work (ETHW) token might not be the most popular coin in the market currently, but it is definitely leaving its mark. Its value is helped by the fact that the tokens are being sent to ETH holders who have previously proven to hold their coins for a long time.  Related Reading: More Than 125,000 Crypto Traders Liquidated, Here’s How Much They Lost The token has also been creating support just under the $6 point, making this a possible bounce point for the cryptocurrency in the event of a downward correction. Additionally, there is more demand for the cryptocurrency now that it can be moved in and out of crypto exchange Binance. ETHW’s all-time high also sits at $14, which took place in the bear market. If the growth of Ethereum Classic over the years is anything to go by, ETHW may go on to record massive gains over the years. However, as is typical for hard-forked tokens, they never quite do better than the original coins. In this case, ETHW will likely not reach the Ethereum levels anytime soon. Featured image from Forkast, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

PRESS RELEASE. EVT (Encrypted Variable Token) is said to be the upgraded version of NFT (Non-Fungible Token) and will eventually replace NFT soon for creatives. Is this possible? Here is an insight into how the backbone tech of these tokens works. What is NFT? (Non-Fungible Token) A non-fungible token is a financial security consisting of […]

The saga over Cannabis regulation took another twist courtesy of a comment buried in a Commission lawsuit that hints at a case for Morocco jurisdiction over the Cannabis production worldwide. Those Cannabis production originated in any part of the world “were produced mostly on Morocco since is the top producer with 19% of total production,”…
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The crypto industry needs a better legal strategy and does not have one. There are four major act that must be amended or curtailed by new acts and new federal legislation, SCOTUS wins help. Banking Secrecy act Foreign account tax compliance act (the one that will destroy our industry more than any other) Frank and…
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The Bitcoin price has been moving sideways on low timeframes after experiencing a rejection north of $20,000. The number one cryptocurrency by market cap was benefiting from Ethereum’s “Merge” bullish momentum, but with that factor gone, bears seem to be back in control. Related Reading: ETH Backpedals After Hitting $1,800 Ahead Of Merge Last Week At the time of writing, the Bitcoin price trades at $19,200 with a 14% loss over the past week and sideways movement in the last 24 hours. The cryptocurrency crashed below a critical support zone at around $18,500 during the weekend which has provided bearish arguments with fresh ammunition to forecast a new yearly low. The Last Line Of Defense For The Bitcoin Price? The Bitcoin price trended to the downside since late 2021 when a reached a new all-time high at $69,000. In the months that followed, Bitcoin went on to lose over 80% of its value crashing into a yearly low of $17,600. The cryptocurrency bounced from those lows forming a short-term bottom at around $18,600. In recent days, BTC’s price dropped to $18,200 which could suggest bears have gathered enough momentum to push the price into its yearly low and possibly fresh lows below $17,000. In a post “Merge” crypto market, macro factors seem to be exercising the most influence in the nascent asset class and traditional financial markets. Bitcoin has displayed a high correlation with major equities indexes since the start of its downside price action. According to analyst Josh Rager, the S&P 500 Index “want lower” and could drag the Bitcoin price with it. The cryptocurrency is at a critical support zone, as mentioned, and breaking below its current levels could open the door for a fresh leg down. Rager recommended traders stay flat in U.S. dollars as the market decides on a direction: This is the equities chart, it rejected off level above and looks like it wants lower. BTC is hovering at support for near $18k-$19k for the 5th time. It’s not looking so good right now but maybe we get a bounce again… I’m flat currently and will keep an eye on this. U.S. Fed Poised To Influence Bitcoin Price On low timeframes, the market seems to be gravitating towards liquidity pools created by leverage traders, according to Justin Bennett. There were over $1 billion in Bitcoin long staked at around $18,850 which seems to be the main support for the cryptocurrency’s current price action. Nothing like a liquidity hunt to start your morning. Nearly $1B in $BTC longs had built up at $18,850 on Binance alone. Those longs have been erased.#Bitcoin pic.twitter.com/puGpyAltiv — Justin Bennett (@JustinBennettFX) September 20, 2022  This status quo seems to be on track for disruption as the U.S. Federal Reserve (Fed) will hold its Federal Open Market Committee (FOMC) meeting tomorrow. Therein, the financial institution will disclose its stand on current inflation and a potential interest rate hike above 75 basis points (bps). Related Reading: Cosmos Struggles With $17 As Price Heads Into Distribution Phase Economist Alex Krüger is aiming at a potential short-term downside price action followed by more sideways movements if the Fed stays within market expectations. If there are surprises, and the financial institution hikes above 100 bps, the crypto market might react to the downside.

The sentiment on the Safemoon subreddit appears pretty grim. This weekend somebody with a large bag from very early posted that he finally had enough and sold at a loss. There doesn’t seem to be the same inflated posting or hopium in the responses to posts. This subreddit had that token figured out almost immediately…
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The Insurrection is a tactical battle game that is both free to play and play-to-earn. On the Binance smart chain, the game has a war zoned revolution-centric gameplay. The Insurrection is a multi-purpose game with a variety of earning options and an engaging gameplay. The game module was created with the express purpose of letting…
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submitted by /u/ragin_cajun1326 [link] [comments]

Instead of using moderators to shadowban users à la Twitter, the metaverse could offer a mechanism operable across blockchains incentivizing us to police fellow users ourselves.

According to Microstrategy’s executive chairman Michael Saylor, his company has recently purchased 301 bitcoin for $6 million at an average price of $19,851 per coin. Saylor detailed that the firm’s balance sheet now holds 130,000 bitcoins as the company’s stash is the largest number of bitcoins held by a publicly listed business today. Microstrategy Acquires […]