Category: Cryptocurrency News

Two days ago, Nirvana suffered an exploit in which an attacker drained the reserves of approximately $3.5mm worth of stablecoins, which amounted to nearly all of the external assets in the system. This reserve collateral is the necessary backing for ANA & NIRV, without which the algorithmic properties of the tokens cease to function as…
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It’s safe to say CZ is bullish on bitcoin and crypto’s future. Changpeng Zhao visited CNBC’s Squawk on the Street and flipped the prevalent bearish narrative on its head. In less than 2 minutes. Most of the things CZ said are based on common sense and a basic understanding of market forces, but still, it’s calming to hear a leader of the industry saying them. Especially in this fear-ridden stage of the cycle we’re in. .@binance CEO @cz_binance: The macroeconomics situation will be high inflation, the talk about recession…all of those things drive adoption into #Bitcoin.@CNBC pic.twitter.com/EP8OHwPeAa — Squawk on the Street (@SquawkStreet) July 28, 2022 Notice that even though Binance’s business is dependent on altcoins’ performance, especially BNB, CZ makes a clear distinction between bitcoin and crypto in general. On the other hand, even though the interview is about bitcoin, CZ sneaks crypto here and there.  In any case, let’s analyze what Binance’s CEO thinks about the current market conditions and the future of bitcoin and crypto. What Did CZ Squawked On US National TV? The first thing the interviewer was interested in was the way that bitcoin bulls have defended the “20Kish” line. According to CZ, that was “the last peak” so there’s a “psychological barrier” there. So far, bitcoin’s price had never go lower than the previous cycle’s all-time high. This time it was different, probably because of Tesla’s paper hands and the Terra collapse. However, the market ended up defending the 20K line. The interviewer then asked about other factors, like the increase in money supply or bitcoin’s correlation to Nasdaq. According to CZ, those are two relevant factors, but in the end “it’s a mass psychology market” and the last ATH is the barrier. It’s only fair that we quote Binance Academy for an explanation of the psychology of market cycles: “In short, market sentiment is the overall feeling that investors and traders have regarding the price action of an asset. When the market’s sentiment is positive, and prices are rising continuously, there is said to be a bullish trend (often referred to as a bull market). The opposite is called a bear market, when there is an ongoing decline in prices.” Recently, as we regularly do here at NewsBTC, we checked on the famed fear and greed index for insights into the current market sentiment. This is what we found: “Last week, the indicator’s value had risen up to even 34 as the coin’s price saw a recovery rally. However, as the run ended and the crypto once again slumped down, so did the sentiment among the investors. The report notes that this trend indicates participants in the BTC (and wider crypto) market believe that this recent rally was just a fakeout.” BNB price chart on BinanceUS | Source: BNB/USD on TradingView.com What’s the next catalyst? Back to the interview, the next question was about what factor could catapult bitcoin and crypto into their next chapter. Cautiously, CZ said that no one can forecast that accurately. “Nobody really forecasted NFTs, DeFi, etc. Which probably drove the last bullrun.” And in 2017, ICOs seemed to be the catalyst. “Six months before those things happened, very few people can forecast it.” In bull markets, exercise risk management. If everything went to 0, will your life still be ok? If no, you invested too much. Reduce it by half and ask again. Don't over invest. (Not financial advice) — CZ 🔶 Binance (@cz_binance) July 29, 2022 Then and only then, CZ speculated. He thinks that the market is so much bigger this time around, with so many new applications being developed. The whole space is moving in a positive direction, with most countries adopting regulatory frameworks instead of banning bitcoin and cryptocurrencies. It’s hard not to be bullish in an environment like this, even if the market is still fearful about the prices. The last phrase is the funniest, and it goes into the current state of the world. “The macroeconomic situation, there’s going to be high inflation, the talk about recession, etc. All of those things drive adoption into bitcoin… into crypto.” Featured Image: CZ, screenshot from the video | Charts by TradingView

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The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has published a video explaining how the agency plans to regulate crypto exchanges. “I’ve asked our staff to work directly with the platforms to get them registered and regulated,” the SEC chief revealed. SEC Chairman Gary Gensler’s Video About Regulating Crypto Exchanges U.S. […]

If you buy stETH one day before funds are unlocked post merge, do you get the 5% accumulation from when that token was created? Or is it only the 5%p.a. For the one day you owned it? I assumed the stETH you buy would have accumulated staking Rewards from when it was created but I…
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A friend of mine is convinced that might happen if the Merge is successful. He predicts that any crypto asset that has a direct link to the ETH Chain or is paired with ETH will benefit from ETH's upgraded tokenomics after the merge. Do you agree? Thanks. submitted by /u/MikeNaYe [link] [comments]

Solana soared in double digits over the last 48 hours. The coin touched the $43 mark before it started to retrace on its chart again. In the last 24 hours, SOL just lost 0.1% of it value and stuck to its bullish price action. Owing to its recent development, Solana has displayed a price rally. Technical outlook of SOL was also bullish at press time. The altcoin witnessed an increase in buying strength. This has been influential in driving the price up. Solana has opened up permanent retail space in Manhattan. These stores are specifically dedicated to all things related to cryptocurrencies. Solana Spaces, CEO Vibhu Norby also mentioned that these physical Solana retail stores have an intention to introduce approximately 100,000 people each month to the Solana ecosystem. He also hinted that there are possibilities to open a virtual storefront soon in the future. A grant from the Solana Foundation has helped the Solana Spaces to set up a shop in Hudson Yards New York. Solana Price Analysis: Four Hour Chart SOL was trading at $42 at the time of writing. The altcoin was finally able to break past the $40 price level. Overhead resistance for the coin stood at $47. SOL has struggled to move past that price zone for couple of weeks now. For Solana to continue its bullish momentum, it has to trade above the $43 price ceiling level for a substantial period of time. Nearest support line for the coin was at $40 and $38. If the coin loses the $38 price floor, the next support line awaits the altcoin at $36. Trading volume of Solana registered a small decline which indicated that selling pressure might have been on the rise. Technical Analysis SOL had just touched the overbought price zone, however, as price gently moved south so did buying strength. Although there has been a fall in buyers, buying strength remained higher than selling strength at the time of writing. The Relative Strength Index was slightly below the 60-mark which meant that buyers exceeded sellers on the chart. The price of SOL was above the 20-SMA line, the reading indicated that buyers were driving the price momentum on the chart. SOL was also above the 50-SMA and 200-SMA line, that indicated bullish force in the market. Related Reading | Bitcoin Flirts With Hurdle At $24k, Why It Could Be In Early Days Of Recovery The altcoin reflected increased buying pressure on other indicators as well. Moving Average Convergence Divergence pictures price momentum and change in the same. MACD underwent bullish crossover and presented green signal bars which are tied to buy signals for the altcoin. Bollinger Bands depict price volatility and fluctuations in the same. The bands have opened up wide which indicated that price of the altcoin could experience further volatility. For SOL to maintain its bullish stance, buying pressure and broader market strength will be necessary. Related Reading | Bitcoin Breaks $24k As Exchange Whale Ratio Declines Featured image from LeewayHertz, chart from TradingView.com

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Anyone else using Norton? I've been mining Ether for thr last 8 months. I connected my Norton account to coinbase. Anyone else did this? submitted by /u/reivpena [link] [comments]