Day: June 21, 2022

Ethereum testnet Beacon Chain launched and ready for trial merge

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The Sepolia testnet Beacon Chain has gone live, setting the stage for its merge dress rehearsal to give Ethereum network developers valuable technical insights. Upon merging with its dedicated Beacon Chain, the Sepolia testnet will begin reaching consensus using proof of stake (PoS) rather than proof of work (PoW) which will provide data on what may happen when the Ethereum mainnet performs its merge. The Ethereum Sepolia Beacon Chain has been deployed! The Merge is coming https://t.co/IuJBnFp0Xx — Crypto-Gucci.eth ᵍᵐ (@CryptoGucci) June 20, 2022 The exact date of the Sepolia…

Bitcoin Reclaims $20,000, Could It Lose Support Again?

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Bitcoin and other major altcoins have been on a consistent free fall and even hit multi-yearly lows. BTC even touched $17,000 mark this month, however, the king coin has now reclaimed its $20,000. Over the last week, the coin lost 22% of its value but on the daily chart it gained close to 7%. Technical outlook for the coin has picked up bullishness but still reflects signs of weakness. Buyers also have returned to the market, but if buying strength drops again BTC might find support close to $17,000. It…

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President Biden Insists US Recession Is Not Inevitable — Treasury Secretary Yellen Concurs – Bitcoin News

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President Joe Biden and Treasury Secretary Janet Yellen say that a U.S. recession is not inevitable, dismissing the concerns of many economists who have predicted an upcoming recession. In addition, Biden insisted that the U.S. will “overcome this inflation” while Yellen admitted that “inflation is unacceptably high.” Biden: U.S. Recession Isn’t Inevitable President Joe Biden reiterated to reporters Monday in Rehoboth Beach, Delaware, that a U.S. recession is not “inevitable.” Asking Biden about a potential recession, a reporter said, “Economists are saying that a recession is more likely than ever.”…

Cryptocurrency: What's Driving The Market?

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A Chinese Alternative to Dollar-Based Stablecoins? Widening the Use of the CNH Presents Challenges; BTC Remains Above $20K

Ether, the second-largest crypto by market cap, was down about 2%, changing hands just above the $1,100 position it reclaimed late Sunday. Other major altcoins were mixed with FTT up over 9% at one point, but XLM and XRP slightly down. DOGE rose earlier in the day after Tesla founder Elon Musk tweeted that he would “Keep supporting Dogecoin,” but was in the red by the afternoon. Source

Bitcoin Recovery Wades Off Celsius Liquidation, But For How Long?

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The price of bitcoin has made a remarkable recovery above $20,000 after a brutal week riddled with crashes. These dips had driven decentralized finance (DeF)/ lending protocol Celsius, to the brink of liquidation. However, as the price has recovered, the platform is once again able to hold out for longer as its liquidation point is now a bit further away. The question remains if the recovery will hold and if Celsius will be able to avoid liquidation. Liquidation Price Pushed Back With the price of bitcoin above $20,000, the liquidation…