Day: September 7, 2022

Ethereum (ETH), Binance Coin (BNB) and One Additional Exchange Token Look Ripe for Rallies: Crypto Analyst

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A closely followed analyst has three blue-chip altcoins on his radar that he says look promising as crypto markets brace for the highly anticipated Ethereum (ETH) merge. In a new issue of the Technical Roundup newsletter, the pseudonymous analyst known as Cred tells subscribers that ETH itself is still looking like a good bet as the Ethereum network gears up for its transition to proof-of-stake. The analyst gives a price target somewhere near the $2,000 range, or about 23% away from current prices. “Ethereum has been very strong. Price performance in…

Binance US launches low-barrier Ethereum staking ahead of The Merge

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On Wednesday, the U.S. subsidiary of cryptocurrency exchange Binance announced that it would introduce an Ethereum staking program with annual percentage yields of up to 6.0%. Unlike direct staking on the Ethereum network, which would require 32 Ether (ETH), only 0.001 ETH would be required under the new service introduced by Binance US. Regarding the development, Brian Shroder, CEO of Binance US, said:  “ETH plays a critical role in the broader Web3 ecosystem. As the Ethereum network continues to transition towards The Merge, we are thrilled to offer ETH staking with…

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Circle CEO, Paxos, and Trueusd Speak on Binance’s Stablecoin Auto-Conversion Decision – Bitcoin News

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On September 5, Binance explained that it planned to drop a number of usdc trading pairs and auto-convert specific stablecoin balances into busd by September 29. While the move was controversial among crypto proponents on social media, Circle Financial CEO Jeremy Allaire explained that the change “will likely lead to more usdc flowing to Binance.” Circle’s Jeremy Allaire Thinks Binance’s Forced Stablecoin Conversions Will Likely Lead to More USDC Flowing to the Exchange Circle’s CEO Jeremy Allaire spoke about Binance’s recent move to “enhance liquidity and capital-efficiency for users” by…

A Stablecoin Law May Not Happen This Year

That being said, the bill isn’t dead. Rep. Maxine Waters (D-Calif.), who chairs the committee, and Rep. Patrick McHenry (R-N.C.), who is the ranking member, are the lead negotiators on this effort, and they’re both coming back in the new year (though it’s possible their titles will be swapped). Source

Thai SEC files police report on Zipmex, alleging ‘incomplete’ info for compliance procedures

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Thailand’s Securities and Exchange Commission, or SEC, has accused crypto exchange Zipmex and its co-founder Akalarp Yimwilai of non-compliance with local laws and referred the matter to the police. In a Wednesday announcement, the Thai SEC alleged Zipmex had not provided information on digital wallets and crypto transactions in compliance with the country’s Digital Assets Act. The regulator claimed that both Akalarp and the exchange forwarded incomplete information outside of an approved timeframe without providing a “reasonable cause” or excuse. “Such actions by Zipmex and Mr. Akalarp are considered to…

What will drive crypto’s likely 2024 bull run?

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Decentralized finance (DeFi) has seen tremendous growth since its inception, expanding by more than 1,200% in 2021 in total value locked (TVL) and surpassing $240 billion in invested assets. While DeFi has since dropped to around $60 billion TVL as a result of wider macroeconomic trends, such as rising inflation, the seeds are in place for DeFi to reconfigure the foundations of our financial infrastructure when the next market cycle comes.  Historically, the return to a bull market develops over a four-year trajectory. This time, a recovery in 2024 is…

Cardano (ADA) eyes 15% rally despite Charles Hoskinson’s fear over ‘macro factors’

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Cardano (ADA) will undergo a major network update called “Vasil” on Sept. 22, potentially making its blockchain more scalable and cheaper. Nonetheless, the news has failed to spark any decisive upside momentum in ADA’s market. Macro factors weigh on ADA’s best upside scenario In detail, ADA’s price has risen approximately 3.5% to $0.51 since the Vasil launch announcement, including a circa 14% rally followed by its near-perfect wipeout. In other words, traders initially bought the Vasil hype but were quick to exit markets, as illustrated by the price action below.…

Public Bitcoin Mining Firms Are Nearly Out Of Coins To Sell

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Public bitcoin mining firms have been caught between a rock and a hard place with the decline in bitcoin prices. As their cash flow had declined significantly, they had turned to sell BTC to be able to keep up with the costs of their operations. The massive stash of BTC that these public miners had stacked up during the incredible year of 2021 is now making its way to the market. But they are quickly running out of coins to sell. Bitcoin Miners Dump Coins Over the last three months,…