Category: Cryptocurrency News

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On-chain data shows the Bitcoin Interexchange Flow Pulse is about to see a trend reversal, here’s what it may mean for the crypto’s price. Bitcoin Interexchange Flow Pulse Is Crossing Over Its 90-Day MA As per CryptoQuant’s on-chain year-end dashboard release, the trend shifts in this metric have historically occurred with phase changes in the market. The “Interexchange Flow Pulse” is an indicator that measures the 1-year cumulative net flows between Coinbase and derivative exchanges. When the value of this metric rises, it means investors are transferring more coins from spot to derivative exchanges right now, and are hence willing to take up more risk. On the other hand, low values suggest not much capital is flowing into the derivative exchanges at the moment. Now, here is a chart that shows the trend in the Bitcoin Interexchange Flow Pulse, as well as its 90-day moving average (MA), over the last few years: Looks like the value of the metric may be beginning to turn around | Source: CryptoQuant As you can see in the above graph, a pattern seems to have historically followed with the Bitcoin Interexchange Flow Pulse during bull-bear trends in the price of the crypto. Whenever the coin has observed a bullish period, the indicator has seen a constant climb and has stayed above its 90-day MA. Related Reading: Litecoin Bullish Signal: Shark And Whale Addresses Hit 2-Year High The reason behind this is that investors are generally willing to take more risk during bull markets, and hence send increasingly large amounts to derivative exchanges for setting up leverage positions. However, whenever the metric has reversed its direction and crossed below the 90-day MA, a top formation has taken place in the price of BTC, and the bullish trend has ended. In the bear markets that have followed such periods, the Interexchange Flow Pulse has usually continued to go down and has remained below its 3-month average. Once again, why this happens is simple; bear markets are when the average holder is unwilling to take any risks, and hence capital flow into derivatives dries up. This trend in the indicator continues until the turning point once again takes place, where the price forms its bottom and the metric starts moving back up the opposite way (crossing above its 90-day MA in the process). Related Reading: Bitcoin Might Be Going Through Its “Most Challenging” Cycle Based On This Metric In the current bear market as well, the Bitcoin Interexchange Flow Pulse has consistently moved down while staying under its 90-day MA. Most recently, however, the decline seems to have stopped, and now the indicator is retesting its long-term average. If the historical pattern is anything to go by, a successful crossover and reversal in the Interexchange Flow Pulse’s trajectory here would mean the bear bottom is in for the current cycle, and a slow transition towards a bull market could follow. BTC Price At the time of writing, Bitcoin’s price floats around $16,600, down 1% in the last week. The value of the crypto seems to have declined over the last couple of days | Source: BTCUSD on TradingView Featured image from Maxim Hopman on Unsplash.com, charts from TradingView.com, CryptoQuant.com

While headlines focus on declining token prices, blockchain technology is doing fine and attracts record levels of users, investment, and interest from mainstream organizations. Global payment provider VISA recently showed its intentions with web3 infrastructure and blockchain, with a heavy focus on security, scalability, interoperability, and privacy. At the same time, Larry Fink, the CEO…
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Gabriel Shapiro, the legal counsel at crypto company Delphi Labs and a US attorney with more than a decade of experience, has made his predictions for the coming year 2023. However, contrary to the crypto tradition of predicting the most lucrative altcoins, Shapiro is making his predictions in terms of US crypto law. The year 2022 was undoubtedly one of the most turbulent years for the crypto industry, which had to cope with the collapse of numerous fraudulent and overleveraged companies. The collapse of FTX and its entanglements in U.S. politics, at the latest, should give U.S. lawmakers ample reasons to regulate the crypto industry more tightly in the year ahead. In this regard, Shapiro predicts that a money laundering issue will be uncovered on a national level related to cryptocurrencies. For example, “FTX could be revealed to be connected with Iran-Contra style arms smuggling to Ukraine.” (1) at least one major crypto project will register its existing token or smart contract system as a security with the SEC as part of a comprehensive pre-trial settlement — _gabrielShapir0 (@lex_node) December 28, 2022 Regarding centralized exchanges, Shapiro suspects that a CEX bankruptcy will expose a major mistake by a prestigious law firm. Under regulatory pressure from the U.S. Securities and Exchange Commission, the lawyer says, “at least one major crypto project will register its existing token or smart contract system as a security with the SEC as part of a comprehensive pre-litigation settlement.” Related Reading: Institutional Crypto Predictions For 2023: Ethereum, BTC, L2s, NFTs Shapiro also predicts that one to three new crypto projects will seek registration with the SEC as securities. Moreover, legislative pressure may not stop at the DeFi sector. In terms of anti-money laundering and KYC guidelines, Shapiro says at least one project will bow to the pressure and introduce CEX-style customer verification. Given the tremendous growth in popularity of stablecoins and the increasingly debated introduction of a central bank digital currency (CBDC), Shapiro’s sixth prediction should come as a surprise to few. The attorney believes that a “meaningless stablecoin law will be passed for stablecoins in custody,” leaving it up to the Treasury Department to shape the rules. This could “pave the way for Circle to receive permanent structural advantages,” Shapiro said. Crypto Law Predictions For DeFi, NFTs, And Ethereum Shapiro also expects more regulatory pressure for DAOs, which could face a wave of lawsuits from the CFTC and SEC. The attorney also expects a lawsuit from the Consumer Financial Protection Bureau (CFPB), which “could file a serious claim” against a DeFi team for “misrepresentations” about how it operates. The DeFi space is also concerned with the next prediction: The CFTC publishes direct or indirect guidance on DeFi that indicates fully overcollateralized MakerDAO style vaults will not be viewed as leveraged transactions, but that everything else in DeFi is covered by CFTC regs; most fancy DeFi applications block the U.S. Flying under the radar for another year, on the other hand, could be MEV, GameFi, bridges, L2s, and zk-proofs, according to Shapiro. Major IP problems are expected by Delphi Labs’ legal counsel for existing NFT-PFP projects, which are “declining dramatically in value amidst numerous lawsuits and investigations; other uses for NFT with better legal engineering emerge.” Related Reading: Litecoin Price Prediction: This Resistance Could Trigger New Rally U.S. regulators, meanwhile, could focus on Ethereum ecosystem infrastructure providers. “At least one major U.S.-based Ethereum ecosystem infrastructure provider will add KYC/AML or other previously unthinkable compliance features to the base layer,” Shapiro continued. ICOs, Binance, USDT, And Coinbase The lawyer’s penultimate prediction relates to ICOs, which could make a comeback under the MiCA framework in the EU. “[T]his combined with a higher-interest-rate environment will mark a new cycle where VCs are less powerful in crypto.” In the end, Shapiro holds an optimistic prediction for Binance, Bitfinex, and Tether, which he says will enter lightweight regulatory arrangements outside the U.S. and gain a surprising degree of international legitimacy. In contrast, he predicts that Coinbase will merge with U.S. investment banks and become a “U.S.-favored juggernaut.” At press time, the Coinbase (COIN) share price was trading at $32.53, down 90.5% from its all-time high. Featured image from Kelly Sikkema / Unsplash, Chart from TradingView.com

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Look I don't usually like to dunk on projects, but Status came out of the 2017 bull market with almost $100M in capital, and frankly I'm shocked this team has failed to produce anything, let alone a usable standard for Ethereum based messaging that's safe. Everything on paper has pretty much said Status should be…
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