Amid regulatory scrutiny worldwide, global cryptocurrency exchange Binance has announced that it will cease offering futures, options, and leveraged tokens to Australian users in 90 days. Changes Coming to Binance Australia Cryptocurrency exchange Binance announced some changes to its offerings in Australia Tuesday. The exchange will cease offering futures, options, and leveraged tokens to existing […
This manifesto to all describes a spectre haunting the modern world — the spectre of freedom.
On Tuesday, SEC Chair Gary Gensler re-confirmed his plan to crack down on cryptocurrencies, and traders’ regulatory concerns are confirmed by this key Bitcoin futures and options indicator.
It was just a couple weeks ago that Coinbase posted a blog post, paired with a hefty Twitter thread from CEO Brian Armstrong highlighting recent challenges with the SEC. Armstrong described the agency’s behavior as “sketchy” after the SEC seemingly threatened the exchange that a lawsuit would be impending should Coinbase launch their expected interest-yielding product, Lend. If Armstrong’s tweet thread didn’t give it away, the company’s blog post, spearheaded by Chief Legal Officer Paul Grewal, was undoubtedly lined with some of the firm’s frustrations. Now, less than a month later, reports have emerged that Coinbase has elected to halt it’s plans to launch Coinbase Lend. A Threat To DeFi? The news comes less than a week after SEC Chairman Gary Gensler told CNBC that his commission is under-staffed. Gensler echoed those sentiments in a Senate testimony last week, stating that the SEC “needs a lot more people.” He added in the testimony that he believed previous judiciary decisions established that many cryptocurrency tokens “do come under the securities law.” Gensler took the role with the SEC earlier this year, and came in with high expectations from retail investors. Elsewhere in the market, some state regulators seem to be working to try to fill the SEC’s role with interest-yielding products already on the market. A handful of state regulators in recent months started legal action against BlockFi for it’s lending products. In the past week, some state regulators have shifted focus to pursue action against Celsius as well. New Jersey, Texas and Alabama are three states that are pursuing both BlockFi and Celsius with claims that the firms are offering residents unregistered securities. Regardless of the eventual outcome, the growing popularity of yield-generating tokens and stablecoins are becoming of increased importance to regulators, and are likely bound to be responsible for federal oversight at a higher level than currently seen. The timetable and degree of oversight remains to be seen. Coinbase is the first crypto exchange to be publicly traded on a major U.S. stock exchange, but has posted modest results in it’s short time on the market. | Source: COIN – NASDAQ on TradingView.com Related Reading | Mid-Cap Altcoins Hold Onto Highs Better Than Bitcoin And Ethereum Elsewhere In The Coinbase Rumblings The powerhouse exchange continues to build on their flagship products to deliver business growth. Last week, the exchange issued a high-demand junk bond with orders amounting to $7B. In recent months, the company announced it’s intent to launch a “crypto app store” and added payment support for Apple Pay. Safe to say it’s been a busy quarter for the bustling exchange. However, it remains to be seen what the end result is for competitors like BlockFi and Celsius. In the meantime, it seems that Coinbase may be working to try to propose regulatory framework that can help the SEC and other regulatory figures embrace the market without overstepping boundaries for crypto consumers. Related Reading | Despite Dips, Bitcoin Exchange Reserves Reach Lowest Values Since 2018 Featured image from Pexels, Charts from TradingView.com
The collapse of Evergrande and Chinese real estate developers underscores the promise of bitcoin, an asset disconnected from the global system.
Smart contracts have been in the crypto space for quite a while now, most recently debuting on Cardano. With the rise of decentralized finance (DeFi), smart contracts have become even more important to the entire industry. This is because they are required to build the protocols on which these decentralized applications (DApps) run on. As they have grown in popularity, smart contracts platforms like Ethereum and Solana have recorded great success with them. Cardano has been working on bringing smart contracts to its network for a while and on September 12th, that dream became a reality with the final launch of the Alonzo Hard Fork Combinator (HFC). The arrival of smart contracts capability on the network was widely celebrated in the industry. But now, Founder Charles Hoskinson does not believe the term does justice to what Cardano actually does. Related Reading | Why The Hydra Layer 2 Solution Is Important To The Cardano Network The disagreement with the term smart contracts comes after a user pointed out that what Cardano does is actually very different from smart contracts. The user, @_KtorZ_, pointed out that the network deviates from what established smart contracts platforms do, referring to the network as “atypical.” Compared to most existing smart-contract platforms, Cardano takes a much different road. Recently, we've seen a lot of discussions going on about “concurrency issues” and “EUTXO vs accounts”. While equally expressive, Cardano programmability is different and atypical. — KtorZ (@_KtorZ_) September 18, 2021 Cardano Does Not Have Smart Contracts Hoskinson posted a tweet wherein he agreed with the user pointing out that the term smart contracts do not do justice to what the platform does. Instead agreeing that a new term is needed instead of smart contracts to describe the network’s capabilities. This new term which the founder had agreed with is programmable validators. Agreeing with the user who pointed it out, this term better describes Cardano’s programmability. Related Reading | Cardano Founder Charles Hoskinson Says He Wants To Eliminate The Need For CEOs And Presidents Matthias gets it absolutely right. Programmable validators instead of smart contracts https://t.co/8VVESJ8MYU — Charles Hoskinson (@IOHK_Charles) September 19, 2021 ADA price falls to $2.1 range | Source: ADUSD on TradingView.com Explaining further, the user pointed out that unlike existing platforms like Ethereum and Solana, one could not just deploy a smart contract on Cardano. “Instead, validators are implicitly referred to by hashes prior to their use, and they are disclosed upon activation,” the user said. Meaning that the validators do not produce anything on the network. All they actually do is “just validate.” In closing, KtorZ explained that the term “smart contracts” felt like an imprecise term. “I’d prefer more specific terms such as ‘on-chain validators’ and ‘off-chain code.’ If anything, ‘smart-validators’ sounds already much better to me,” they added. Featured image from Coingape, chart from TradingView.com
Jayson Stewart, mayor of Cool Valley, Missouri, discusses giving bitcoin to his constituents and why Bitcoin is fundamentally American.
Bitcoin kicked off this week on the red, and the rest of the crypto market followed. In the top 10 cryptocurrencies by market cap, BTC and Ethereum are amongst the most resilient for the weekly chart. In that time, the market has been hit by a succession of “buy the rumor, sell the news” events, and one major macro factor with the potential default of Chinese real state giant, Evergrande. Thus, the levels of uncertainty have been on the rise. Related Reading | Did Bitcoin Really Experience A Flash Crash Down To $5,400? In the middle of this storm impacting Bitcoin and other major cryptocurrencies, there is a select group that has managed to stay in the green. According to a recent report by Arcane Research, the assets that comprised their middle-cap altcoins index recorded some profits as the bearish trend unfolded. For the 30 days chart, the Mid Cap Index comprised of cryptocurrencies such as Tezos, Algorand, and Avalanche showed small profits. These tokens have seen a massive rally during Q3, 2021, and were amongst the biggest losers during this week’s bearish trend, but they are still up 5% in the monthly chart, as seen below. In opposition, Bitcoin records a 9% loss in the 30-day chart with similar losses for Ethereum, Cardano, Solana, Binance Coin, and other major cryptocurrencies. Smaller assets experienced the highest losses for this period with a 14% loss by September 21. Arcane Research noted: As often happens during market turmoil, the Bitcoin dominance increases, as altcoins often act as high beta play on the crypto sector. The last week, bitcoin’s market share increased by 1.14% grabbing market share from the other big coins like ETH, ADA, and SOL. Bitcoin Reacts To Macro Factors, What’s Next? In a separate report, investment firm QCP Capital analyzed the bigger picture for Bitcoin and the crypto market. Although mid-caps preserved part of their gains in higher timeframes, they will most likely follow BTC’s price trajectory in the short term despite their fundamentals. Related Reading | Bitcoin Holders Take Profits As Price Falls, Indicators Remain Bullish? The first cryptocurrency by market cap faces September, a month that has historically been bearish for the asset, and potential complications from regulators in the U.S. and the performance on the Asia markets due to Evergrande. As QCP Capital noted, tomorrow September 22, will be crucial to determine the trend in the short term. Bitcoin must hold the $40,200 support in case of more downside pressure when the market re-open after a long weekend. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course The firm expect some government intervention to rescue the real estate company. This could result in the best-case scenario for Bitcoin and the crypto market, but there is a lot of fear and uncertainty about China’s approach. QCP Capital said: (…) the lack of guidance so far from Chinese regulators is scaring the market. The fear here is that President Xi could allow. Evergrande to fail as an example to the other real estate players ahead of the 100th anniversary of Chinese Communist Party (CCP) in 2022. He has already taken draconian steps with Big Tech and Education. At this point, the market has already priced in Evergrande’s equity as worthless (…). At the time of writing, Bitcoin trades at $42,814 with a 2.6% loss in the daily chart.
“We’re not necessarily looking for more authority without more resources,” said Dan Berkovitz in regards to crypto markets.
On September 19, 2021, the software developer and cofounder of Casa, Jameson Lopp, announced a new project called bitcoinpoliticians.org which sifts through Congressional financial disclosures and records them into a database. Lopp says the aim is to create “more transparency around bitcoin ownership” and so far he’s analyzed about 13% of Congressional financial disclosures. Jameson […
The post Avalanche Price Prediction: Will AVAX Price Hit $100 in 2021? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
The Crypto market has seen tremendous growth over the past few years. Especially this year with bitcoin, many altcoins were trending with rapid price spikes, one such asset is AVAX! The Avalanche has quickly gained great attention that crypto investors are curious and searching the questions like Is AVAX worth buying in 2021? What will …
A father of three explains why he is saving in bitcoin for their future.
PRESS RELEASE. INTERNET CITY, DUBAI – LBank Exchange, a global digital asset trading platform, is proud to list THN on September 22, 2021. For all users of LBank Exchange, the THN/USDT and THN/ETH trading pairs will be officially available for trading at 21:00 (UTC+8) on September 22, 2021. In recent months, NFTs have risen in […
The stars are older than all of us, and older than history itself. Yet bring up astrology with the Bitcoin crowd, and for the most part the response is skepticism or even mockery. Both the study and the cryptocurrency itself share several similarities, such as a mathematical foundation, cyclical behaviors, and unusual financial applications. If you are the type to believe, or are just curious, a notable full moon is passing, leading into the autumnal equinox tomorrow. How might this seasonal shift impact the cryptocurrency market trend, and how does math apply to what many believe to be pure myth? September Harvest Moon Could Bring Bounty For Hard Summer Work Planets all revolve around the sun. Their position at the time each person is born and there forth is believed to instill certain influences at distinct moments. Depending on the rotation and layout of the planets, it can have all kinds of seasonal impacts. The Farmer’s Almanac uses such cycles to predict how much snow each winter holds, for example. Certain conjunctions are said to bring about famine, drought, or worse. For example, historians believe that a a triple conjunction of Saturn, Jupiter and Mars caused the Black Death plague. Related Reading | Interview: Crypto Damus On Successfully Combining Bitcoin TA With Financial Astrology The late WD Gann used planetary influences along with math to predict tops and bottoms with “legendary” precision. He taught no one his tricks, but left all kinds of bizarre mathematical tools behind that few know how to take advantage of. So how does this all impact Bitcoin? The Harvest full moon hasn’t appeared on the chart yet its so fresh | Source: BTCUSD on TradingView.com The new moon and full moon chart alone shows significant correlation with Bitcoin price action. Just last night as BTC plunged near $40,000, the full Harvest moon and last full moon of the summer was passing. The moon was named for the fact that farmers used the moon’s light to work late into the night on annual harvests ahead of colder months. It has been a long, arduous summer for crypto holders, but this moon could be a sign that its time to reap the fruit of one’s labors as the autumn equinox hits. Could The Fall And Golden Ratio Be The Key To The Next Bitcoin Peak? The equinox signals change is coming. Change in the season; change in the way humans behave based on those seasons. Seasonality in finance is real, hence the phrase “sell in May, and go away.” The opposite idea is called the Halloween Effect, where investors buy up assets big time to sell around the holidays when enthusiasm is highest. Seasonality and equinoxes don’t always work with the first ever cryptocurrency, but when combined with the power of the Harvest full moon and other favorable mathematical positioning, there is a recipe for something special. After holding above the golden ratio, the final leg up comes in the autumn | Source: BTCUSD on TradingView.com Each final leg up in each Bitcoin bull run has begun at the autumnal equinox, driving to new all-time highs until the winter equinox arrives. Since fall arrives each year, but the same effect doesn’t occur, the necessary ingredient for liftoff is a pullback to the golden ratio. Related Reading | Mercury in Retrograde: Why Bitcoin Traders Fear The Astrological Event Bitcoin price has always retraced back to the golden ratio, before blasting off to the end of the cycle. Below it has never been filled no matter the cycle. If the same scenario plays out, anyone that has survived the summer’s bearish heat, will have a very happy holiday season. To be fully clear, everything written here is pure conjecture based on correlation and past cycles and performance. These aren’t a guarantee of future results. But when the math adds up and Fibonacci is everywhere in nature, why wouldn’t the sum of the full moon, autumnal equinox, and Bitcoin be something very interesting. In closing, we’ll leave you with the JP Morgan quote: Millionaires don’t use Astrology, billionaires do. Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com
High-profile NFT sales have dominated the headlines, but the deeper analysis shows that most NFTs are worthless and that the market is highly illiquid.
On September 21, the non-fungible token (NFT) fantasy football platform Sorare announced the company raised $680 million in a Series B funding round led by Softbank. The capital raise gives Sorare a new valuation of around $4.3 billion and the company plans to open a U.S.-based office. Sorare Reveals $680M Capital Raise Non-fungible token (NFT) […
The biggest U.S. and European banks oppose strict new rules that would require them to set aside a dollar in capital for every dollar of bitcoin they own.
The round led by investment firm Paradigm will fund the expansion of Genesis’ bitcoin mining operations in the U.S. and Nordics.
On-chain data shows Bitcoin exchange reserves continue to decline despite the recent dips, as values reach lowest since 2018. Bitcoin Exchange Reserves Continue To Go Down As pointed out by a CryptoQuant post, the BTC all exchanges reserve is moving down despite the recent downtrend in the price of the cryptocurrency. The Bitcoin all exchanges reserve is an indicator that shows the total amount of coins held on all centralized exchange wallets. A dip in the value of the metric suggests investors are transferring their BTC to personal wallets, either for holding or for selling through OTC deals. On the contrary, an increase in the indicator implies investors are sending their coins to exchanges for withdrawing to fiat and stablecoins, or for purchasing altcoins. Here is a chart showing how the Bitcoin exchange reserve has changed over the years: The exchange reserve continues to decline As you can see from the above graph, the BTC all exchanges reserve has hit lows not seen since 2018. Usually, during periods of big price swings, the indicator’s value shows a spike as investors look to shift their positions in the market. Related Reading | Bitcoin Holders Take Profits As Price Falls, Indicators Remain Bullish? However, despite the recent dips, the metric has only been trending downward. What’s the reason behind this? Well, one possible scenario could be that there are now more long-term holders in the market that are waiting for the price to appreciate further before they make any moves. A downtrend in the exchange reserve is often a bullish indicator as it shows buyers are accumulating Bitcoin, while an uptrend could lead to crashes in the crypto. Below is another chart that shows the BTC netflow indicator over the last couple of days. Looks like the Bitcoin netflow showed a huge negative spike yesterday The netflow indicator measures the net number of coins exiting or entering exchanges. As is apparent from the above graph, the metric had a big negative spike yesterday, which implies a large amount of BTC was pulled off exchanges. Related Reading | Did Turkey’s President Say “We Are In A War Against Bitcoin”? An Investigation BTC Price Yesterday, Bitcoin’s price crashed down to $40k after peaking just below $49k a few days back. But the price has since jumped back a bit as it floats around $43k at the time of writing. The crypto is down 7% in the last 7 days, while over the past 30 days, the value is 11% less. Here is a chart showing the trend in the price of the coin over the last five days: BTC’s price crashes down to $40k, but quickly recovers back up a little | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant
Mysten Labs’ engineers formerly created the blockchain network on Facebook’s Diem and Novi crypto projects.
Ether price is stuck in a rut, but derivatives data shows pro traders are bullish even with ETH below $3,000.
Efforts to expand Bitcoin’s functionality for payments, smart contracts and Web 3.0 are well underway, opening the door to wider mainstream adoption.
Stock trading and investing app Robinhood has reportedly been testing new features, including a crypto wallet and cryptocurrency transfers. “The ability to deposit and withdraw cryptocurrencies is tricky to do with scale, and we want to make sure it’s done correctly and properly.” Robinhood to Add Crypto Wallet and Transfer Features Investing app Robinhood is […
The post What Awaits For The Crypto Market This Thursday appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
The crypto market after a slight relief is again falling into the bearish trap. Bitcoin price yet again begins to tank again below $43k.The crypto industry, while in bear run, sees further push-back from the ban on crypto mining in China, and Evergrande’s debt crisis. It is known to the masses in the industry that …