Category: Cryptocurrency News

UST, one of the stablecoins of the Terra project, has become the largest stablecoin by market capitalization today, after having surpassed its Ethereum-based rival, DAI. UST is now the largest decentralized stablecoin in the market, closing a year of growth for the Terra ecosystem, which is now among the most valuable top ten cryptocurrency projects […]

It’s completely legal for U.S Senators Cynthia Lummis and Pat Toomey to own Bitcoin or crypto-related investments. They just have to disclose it. Does this pose an ethical dilemma? Senators are on the frontlines of policymaking, and the rules around cryptocurrencies are still being written. On the other hand, it’s illogical to think that Senators can’t handle money or have investments. And that’s what cryptocurrencies are. Is there a conflict of interest here? Let’s argue. As a basis, we’ll use and analyze this article, based on the “Wall Street Journal review of public financial disclosures.” How Much Bitcoin Do Lummis And Toomey Have? Senator Cynthia Lummis is on the frontlines of the battle for better legislation around Bitcoin and cryptocurrencies in general. However, we’re centering our discussion around her and Pat Toomey because they’re literally the only Senators that disclosed crypto-related investments. An incredible stat that shows just how early we are. But enough about that, let’s go to the numbers. Reportedly, Cynthia Lummis owns 5 whole BTC. Or, as the WSJ puts it: “Ms. Lummis’s roughly $250,000 of bitcoin makes her the most heavily invested U.S. lawmaker in the digital asset.” For his part, Pat Toomey went for Bitcoin and Ethereum exposure via Grayscale: “In mid-June, Mr. Toomey bought $2,000 to $30,000 of stock in Grayscale Bitcoin Trust and Grayscale Ethereum Trust, investment vehicles that seek to track the coins’ prices. He said the holdings are part of a diverse portfolio.” So far, so good. However… What Ethical Concerns Are There? Recently, via Instagram stories, Alexandria Ocasio-Cortez revealed that she’s not exposed to cryptocurrencies in any way. “I don’t think members of Congress should own / trade individual stocks and I choose not to own any so that I can remain impartial in policymaking,” she said. And later added, “I want to do my job in the most ethical and impartial manner possible.” Does she have a point? Back to the article, let’s quote Lee Reiners, “executive director of the Global Financial Markets Center at Duke University and a former official at the Federal Reserve Bank of New York.” “These two senators are the most vocal when it comes to favorable cryptocurrency regulation. It’s not to say they are motivated by personal financial interest, but it’s fair to question their advocacy. It’s problematic given their holdings.” But, is it problematic, though? Let’s give the Senators the right to reply.  BTC price chart for 12/21/2021 on Bitstamp | Source: BTC/USD on TradingView.com How Do Lummis And Toomey Respond? In a recent interview, Toomey said, “Following that logic, then I guess no one in the Senate can invest in anything. That would be ridiculous.” Plus, let’s remember, it’s completely legal for them to do so. In Lummis’ case, take into account that “her bitcoin is part of a broad portfolio that includes her family’s cattle ranches.” The WSJ quotes her: “Somebody said, ‘She should sell her bitcoin.’ It’s like, well, OK, it’s a commodity. Should I also sell my cows? Should I sell my mutual funds? Should I sell my retirement fund, just because it might be invested in something that is a great store of value?” There’s another factor, and this is crucial. The Senators also “say their experience with cryptocurrency gives them expertise on a subject that few on Capitol Hill have studied.” Can you understand Bitcoin if you’ve never used it? Don’t you need to be experienced in something to be able to make informed decisions? If all of the other Senators don’t have cryptocurrency exposure or any experience with this novel technology, how can they be trusted to dictate policy?  It’s scary to think that the people deciding over what could become the new paradigm, the evolution of money, have never used the technology and solutions it provides. And that’s the other side of this debate. Featured Image: jensjunge on Pixabay | Charts by TradingView

Ethereum is gaining pace above the $3,950 zone against the US Dollar. ETH price is showing positive signs and the bulls might aim a larger increase above $4,100 Ethereum started a fresh increase and even climbed above the $4,000 resistance zone. The price is trading above $4,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $3,960 on the hourly chart of ETH/USD (data feed via Kraken). The pair could accelerate higher above the $4,050 and $4,080 resistance levels. Ethereum Price Gains Pace Ethereum started a steady recovery wave above the $3,850 and $3,880 resistance levels. ETH even climbed above the $4,000 level and the 100 hourly simple moving average. During the increase, the price cleared the 76.4% % Fib retracement level of the downward move from the $4,035 swing high to $3,750 low. Besides, there was a break above a major bearish trend line with resistance near $3,960 on the hourly chart of ETH/USD. The pair is now trading near the $4,035 swing high. It is trading above $4,000 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $4,050 level. The next major resistance is near the $4,100 level. It is near the 1.236 Fib extension level of the downward move from the $4,035 swing high to $3,750 low. Source: ETHUSD on TradingView.com A clear move above the $4,100 level could push the price further higher in the near term. The next stop for the bulls could be $4,250. A close above the $4,250 level may possibly spark a move towards the $4,350 level. Fresh Drop in ETH? If ethereum fails to start a fresh increase above the $4,050 level, it could start a fresh decline. An initial support on the downside is near the $3,960 level. The first key support is now forming near the $3,920 level and the 100 hourly simple moving average. If there is a clear break below the $3,920 support, the price could extend losses. The next major support is $3,850, below which there is a risk of a move towards the $3,750 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $3,920 Major Resistance Level – $4,100

Does this mean I can invest in projects started on ethereum and listed on uniswap by using matic? ​ I understand matic is a layer 2 solution but it serves no purpose to the investor if he can not invest on eth small caps. ​ Is there any solution I can buy eth small caps…
Read more

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

I find amusement and joy in NFT art and have several small collections both for my personal enjoyment and as planned investments. That being said, digital art is one single early use case for NFTs and, if you ask me, is not even close to being the most important one. Like I said before, I…
Read more

There actually a resistance level that EIP-1559 base fees are always struggling to go under. This resistance currently sits somewhere around 50 gwei. When a lot of people submit transactions with similar fee caps, they create a resistance level. Once the base fee becomes smaller than the resistance level, miners would produce blocks full of…
Read more

This may be a dumb question, but could Eth miners stop the merge from happening? Could the final merge to POS result in a hard fork? If Eth is decentralized how can an update like this be forced without the miners agreeing to eliminate themselves? submitted by /u/Swampdoggo [link] [comments]

submitted by /u/ShutUpBabyIKnowIt420 [link] [comments]