The shedding of Ethereum’s energy-intensive proof-of-work (PoW) system is expected to see Ether (ETH) “flow into the institutional world,” according to a number of fund managers and co-founders. On Thursday, Ethereum officially transitioned to a proof-of-stake (PoS) consensus mechanism, which is expected to cut energy consumption used by the network by 99.95%, according to the Ethereum
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BNB, the native token of Binance’s BNB Chain, entered a symmetrical triangle formation on Aug. 10, when it first faced the descending trendline at the $335 resistance. The following five weeks have been a struggle around $280, the exact intersection between the two conflicting ascending and descending patterns. BNB token/USD at FTX. Source: TradingView A
On Sept. 8, Coinbase announced it was bankrolling a lawsuit against the United States Treasury Department. The cryptocurrency exchange is funding a lawsuit brought by six people that challenges the sanctions on Tornado Cash. And on Sept. 9, Securities and Exchange Commission (SEC) Chair Gary Gensler announced he was working hard with Congress to create legislation
A quick flick through Twitter, any social media investing club, or investing-themed Reddit will quickly allow one to find handfuls of traders who have vastly excelled throughout a month, semester, or even a year. Believe it or not, most successful traders cherry-pick periods or use different accounts simultaneously to ensure there’s always a winning position
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Breaking: Historic day for crypto as Ethereum Merge to proof-of-stake
The United States Treasury Department released three publications related to digital assets Friday, in response to U.S. President Joe Biden’s Executive rder “Ensuring Responsible Development of Digital Assets.” One of them focuses specifically on crypto assets, and a shorter action plan looks at countering illicit finance risks. The discussion of crypto assets in “Crypto-Assets: Implications
Terra classic rose by as much as 20% in today’s session, which comes following a recent bearish streak. Today’s rally follows Thursday’s drop to a key support point, with bulls using this as an ideal area to reenter. Xrp was also higher, as it moved closer to a long-term resistance level. Terra Classic (LUNC) Terra
MicroStrategy CEO and Bitcoin (BTC) advocate Michael Saylor doubled down on his support for Bitcoin as he explained the issues related to transferring the value of physical properties such as gold, company stocks or equity and real estate during the Australia Crypto Convention. Speaking about the underlying proof-of-work (PoW) consensus mechanism, Saylor highlighted that Bitcoin
Analysis from Santiment indicates that 46.15% of Ethereum’s PoS nodes are controlled by only two addresses. Hours after the Merge, the first address has validated about 188 blocks or 28.97% of the nodes, and the second has validated 16.18%, or 105 blocks. On Twitter, the data became a controversial topic as users debated about the
It’s been less than a day since Ethereum’s historic transition to proof-of-stake, with most of the crypto community still abuzz with excitement following the successful Merge. On Thursday at 06:42:42 UTC, the last Ethereum block using the old proof-of-work (PoW) consensus mechanism was mined. Replacing it is an energy-efficient proof-of-stake (PoS) consensus mechanism. Many crypto
Ethereum successfully completed its long-awaited transition to proof-of-stake via “the Merge” on Sept. 15, while traders have been increasingly shorting Ether (ETH) in anticipation of a sell-the-news event. Ethereum funding rate plumme Ether’s futures funding rates across leading derivatives platforms dropped below zero—to their worst levels to date—before the Merge. The rate dropped to as
The ETHW token’s value has dropped 60% a day after its launch on the mainnet. The token was earlier trading at $60.08. However, at press time, the token has documented a fall of 60% and is currently sitting at $11.75. The Ethereum PoW fork token, which launched 24 hours after the Ethereum merge deployment, tanked
As directed by the President of the United States, Joe Biden, the Office of Science and Technology Policy (OSTP) submitted a report analyzing the design choices for 18 central bank digital currency (CBDC) systems for possible implementation in the US. The technical analysis of the 18 CBDC design choices was made across six broad categories
In an Independence Day live streaming event on Sept. 15, El Salvador President Nayib Bukele announced his bid for reelection after his current term ends in 2024. Bukele’s announcement comes even though past presidents in El Salvador were prohibited by law from having consecutive terms in office. The president highlighted that: “Developed countries have reelection,
The World Bank has warned of a possible global recession in 2023. In a press release on Sept. 15, the bank said that the current pace of rate hikes and policy decisions is unlikely to be enough to bring inflation down to pre-pandemic levels. Ray Dalio, the billionaire founder of Bridgewater Associates said in a blog
Yuga Labs is reportedly launching a new NFT collection called Mecha Apes. According to reports, the parent company of BAYC is looking to raise $50 million from the upcoming collection. Based on a leaked Yuga Labs pitch deck, these new NFTs may be related to the Otherside metaverse. Is Yuga Labs releasing a new NFT
