Month: August 2023

California commission outlines campaign disclosure requirements for crypto

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The California Fair Political Practices Commission (FPPC) has updated its campaign disclosure manuals, with revisions including detailed rules for cryptocurrency contributions declarations. An agenda released for an upcoming commission meeting includes a discussion of updated campaign disclosure manuals, which have been reworked to reflect recent changes to legislation and commission regulations. The updates include campaign contribution limits, limited liability companies disclosure requirements, behested payment reporting, cryptocurrency contributions, excessive contributions, advertising disclosure requirements and other non-substantive technical changes. Related: Consumer Federation of California reattempts to regulate crypto companies Also included are guidelines for…

Canada to develop repository for storing crypto and NFT seizures

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The Royal Canadian Mounted Police (RCMP) is seeking for a digital asset solution to facilitate the seizure and storage of cryptocurrency and nonfungible tokens (NFTs). A tender was opened for applications on August 10. As the tender announcement goes:  “The development of a centralized repository solution would allow police officers to seize these assets in a user friendly manner, while also offering significant security to prevent the theft of said assets during their storage.” There are seventeen points, demanded by the RCMP from the future repository. Among them are the…

4-Year Cycle And Elliot Wave

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The Bitcoin landscape is no stranger to debates and predictions. Two dominant theories are currently at the forefront: the 4-Year Cycle and the Elliot Impulse Wave. However, a comprehensive analysis by the esteemed crypto analyst CryptoCon, suggests a fascinating intersection of these two theories. The Dueling Bitcoin Price Prediction Theories At the heart of the debate are two camps. The first, the 4-Year Cycle proponents, believe in Bitcoin’s 4-year journey from cycle tops to bottoms, with a predicted zenith in 2025. The second camp, the Elliot Impulse Wave advocates, are…

Bitcoin ETF momentum runs out as crypto market enters summer slump: Report

After June gave Bitcoin (BTC) a boost with BlackRock’s application for spot Bitcoin exchange-traded fund (ETF), July sent its price into a summer slump. Only some altcoins managed to perform well in response to Ripple Labs’ partial victory against the United States Securities and Exchange Commission. XRP (XRP), the most obvious beneficiary, posted a monthly close of +49%. The overall response of markets to the result of the lawsuit was much more muted than many anticipated, as a ruling on XRP’s sales does not easily generalize to other coins and…

Turbulent AVAX Price Trends And Fading Trading Activity

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Avalanche (AVAX) has found itself ensnared within a critical price zone, grappling with a lackluster trading volume that has hindered its price action. The coin’s journey has been fraught with challenges as market sentiment takes a bearish stance, casting shadows over its potential upward trajectory. The recent attempt at a bullish surge, stemming from the $11 support level, encountered a formidable obstacle at the $15.8 resistance level. This pivotal juncture proved to be an insurmountable barrier, leading to an abrupt price rejection.  The consequence of this rejection has been instrumental…

XRP Prices Temporarily Spiked to $50 on Gemini

The tokens were relisted on Gemini after July’s court order in favor of Ripple Labs, with judges ruling that the “offer and sale of XRP on digital asset exchanges did not amount to offers and sales of investment contracts.” It was previously alleged Ripple Labs sold XRP, a security, to U.S. customers without adequate registration with the U.S. Securities and Exchange Commission (SEC). Source

Solana Could Soon Surge Past $25

Solana is attempting a fresh increase above the $25 resistance against the US Dollar. SOL price rally toward $30 if there is a close above $25.65. SOL price is showing positive signs above the $23.80 level against the US Dollar. The price is now trading above $24 and the 100 simple moving average (4 hours). There was a break above a major bearish trend line with resistance near $23.10 on the 4-hour chart of the SOL/USD pair (data source from Kraken). The pair could continue to move up if it…

Top 10 Ethereum addresses control 34.2% of total supply

According to Santiment, a market intelligence platform, Ethereum’s top 10 addresses have been accumulating over the last five years and currently control 34.6% of the total supply, equivalent to 120.15 million ETH, up from 11.2%.  This augmented ownership signifies the addition of approximately 27.86 million ETH worth around $51.6 billion at spot rates.  Meanwhile, Etherscan, an Ethereum block explorer, reveals key account balances in ETH, showing that the Beacon Deposit Contract holds 27,984,650 ETH (23.3%). Other addresses with significant holdings include those denominated in Wrapped Ethereum (wETH) with 3,361,754 ETH…