Ethereum is just over a week away from officially moving to a proof-of-stake (PoS) blockchain with the Merge slated for completion around Sept. 13–15. With the transition, Ethereum would abandon its current proof-of-work (PoW) chain, eliminating miners from the ecosystem. Ethereum is a vast ecosystem with thousands of decentralized applications and decentralized finance protocols working on top of it. Additionally, there are several layer-2 solutions, i.e., solutions built on top of the blockchain itself, the layer 1, to facilitate faster transactions and make Ethereum more scalable. The Merge would mark…
Month: September 2022
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Crypto Tracer Elliptic Hires SaaS Veteran Jackson Hull as CTO
Elliptic, which licenses crypto transaction tracing tools to governments and corporations, pointed to Hull’s experience building software subscription services. That’s proved to be a lucrative business for tracers helping such clients police on-chain transactions. Source
Will Ethereum keep rallying versus Bitcoin? ETH price technicals hint at 60% gains ahead
Ethereum’s native token Ether (ETH) shows the potential to log major gains versus Bitcoin (BTC) with the ETH/BTC pair nearing yearly highs. Ether paints classic bullish reversal pattern The bullish cues come from a classic technical pattern called the inverse head and shoulders, which develops when the price forms three troughs below a common support level known as neckline. The middle trough, or head, is deeper than the other two, called the shoulders. An inverse head and shoulders setup resolves after the price breaks above the neckline while accompanying an…
Ethereum Merge May Not Be Immediately Deflationary, Crypto Trading Firm QCP Says
The average daily burn recently declined to a record low of 1,206 ETH per day. That’s barely 9% of the record daily burn of 13,269 ETH registered in January. Meanwhile, 13.6 million ETH, amounting to 12% of the circulating supply of 120 million ETH, are locked in the Beacon Chain, according to data tracked by blockchain analytics firm Glassnode. Source
DeFi vs CeFi Lending: Before Choosing, Understand the Challenges and Risks
Investors are faced with a difficult situation: learn the technological knowledge required to interact with DeFi platforms individually or trust a CeFi platform with their funds. Source
Crypto Doesn’t Need More Guidance, SEC Chair Gensler Says
“It doesn’t matter what you hand over to a platform, if you hand over gold, if you hand over bitcoin [BTC] or you hand over any one of 1,000 plus alternative coins, frankly, if you hand over chinchillas. That the platform is taking those funds of value and doing something with it – they might be operating a hedge fund, they might be lending it out, they might be operating other investment schemes – but that platform is under the securities laws book because of how they’ve taken that money…
Crypto Exchange Coinbase to Benefit Near-Term from Staking Revenues After Ethereum Merger, Goldman Says
Despite these positive catalysts, the bank maintained its sell rating on Coinbase shares and its price target of $51, citing weakness in the core business. “ We remain sell rated as we believe the profitability profile is likely to remain weak given the depressed trading environment and the company’s target for roughly breakeven margins over the intermediate term,” the bank’s analysts wrote. Source
Israel's Markets Regulator Grants First Crypto License to Private Company: Report
Hybrid Bridge Holdings Ltd. is reportedly the first company to receive a permanent license from the country’s capital markets authority to engage in crypto-related business activities. Source
Bitcoin Seasonality Provides Hope for Bitcoin Bulls – Blockchain News, Opinion, TV and Jobs
By Marcus Sotiriou, Analyst at the publicly listed digital asset broker GlobalBlock (TSXV:BLOK). The crypto market has dropped below $1 trillion again this week, as Bitcoin neared towards the local bottom of $17,600. On chain analytics have also demonstrated a bearish sentiment among market participants. An example of this is the Bitcoin adjusted SOPR chart, provided by Glassnode, which shows that investors are cashing out during bear market rallies. This indicator suggests that investors are selling to “get their money back” at their cost basis, as there is a huge resistance at 1,…