Day: September 22, 2023

Bitcoin ETFs or not, don’t expect a ‘sexy’ crypto bull run — Concordium founder

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The next crypto bull run will look nothing like the last one, and investors should tame their expectations of an imminent rocketing of cryptocurrency prices. At least that’s what Lars Seier Christensen, founder of enterprise blockchain Concordium, told Cointelegraph in a recent interview. As the majority of the crypto market looks to the swathe of proposed spot Bitcoin (BTC) exchange-traded funds with bullishness, Christensen is doubtful their approval will be an immediately meaningful driver for the crypto markets. “Even if you do get a Bitcoin rally, I don’t think you should…

Nic Carter doubles down on theory Bitcoin was invented by NSA

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Bitcoin advocate Nic Carter has come out to reiterate his support for the theory that the United States National Security Agency (NSA) had something to do with the creation of Bitcoin (BTC). On Sept. 15, Iris Energy co-founder Daniel Roberts seemingly revived the decade-old theory on X after posting screenshots of a 1996 paper titled: “How to make a mint: The cryptography of anonymous electronic cash.” The paper is one of the first known discussions of a Bitcoin-like system, which proposes using public-key cryptography to allow users to make anonymous payments…

Chainlink Recovery Stalls But Not Likely Over

Chainlink’s LINK price recovered above the $6.50 resistance. The price is now correcting gains, but it might find bids near $6.40 and could start a fresh increase. Chainlink price is showing positive signs above $6.5 against the US dollar. The price is trading above the $6.50 level and the 100 simple moving average (4 hours). There is a connecting bullish trend line forming with support near $6.40 on the 4-hour chart of the LINK/USD pair (data source from Kraken). The price could restart its increase unless there is a close…

China suffers worst capital flight in years, but could it pump Bitcoin?

Bitcoin (BTC) could see “substantial inflows” from China within the next few months, amid a weakening Chinese yuan and one of the country’s biggest capital flights in years.  “The familiarity of Bitcoin by Chinese investors in times of a weakening domestic economy could see substantial inflows into Bitcoin over the next few months,” said Markus Thielen, head of research and strategy at Matrixport. Latest official data — compiled by Bloomberg — shows China’s capital outflows hit $49 billion in August, the largest monthly capital outflow since December 2015, potentially spelling…

Ethereum Price Plunges After Rejection, Are Bears Back In Action?

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Ethereum price gained bearish momentum below $1,620 against the US Dollar. ETH is showing bearish signs and might decline further toward $1,540. Ethereum declined further below the $1,600 support zone. The price is trading below $1,620 and the 100-hourly Simple Moving Average. There are two bearish trend lines forming with resistance near $1,600 and $1,620 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down and test the $1,540 support in the short term. Ethereum Price Takes Hit Ethereum’s price started a fresh…

Bitcoin Price Hints At Potential Correction, Buy The Dip?

Bitcoin price is again moving lower from the $27,500 resistance. BTC could extend its decline and revisit the $25,400 support zone. Bitcoin started a downside correction after it failed to clear the $27,500 resistance. The price is trading below $27,000 and the 100 hourly Simple moving average. There was a break below a major bullish trend line with support near $26,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now at a risk of more downsides below the $26,350 level. Bitcoin Price Revisits…

Immutable (IMX) Up By 23% In A Single Day, Analyst Suspects Market Manipulation

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IMX, native token of Ethereum layer-2 scaling solution Immutable X, recorded massive gains on Thursday, soaring by over 23% within the last 24 hours. Before this price gain, IMX had been relatively stable all week, hovering around the $0.52 price zone, according to data from Coingecko. Behind IMX’s Rise, Analysts Points To Price Manipulation Although there may be no clear reasons for the token’s positive price movement, Chinese reporter Colin Wu speculated about potential price speculation.  According to a post on X by Wu, 10.95 million of the token, valued…

Polygon Labs suggests assisting Celo’s transition to Ethereum layer 2 using CDK

Polygon Labs has suggested that the Celo blockchain community utilize its Chain Development Kit (CDK) for their upcoming Layer 2 transition on Ethereum. This proposal surfaces after Celo’s core team, cLabs, revealed an alternative idea involving a transition from Layer 1 to an Ethereum-based Layer 2 using software from OP Labs named OP Stack. Sandeep Nailwal, Polygon’s co-founder, voiced his proposal on Celo’s governance forum, stating, “We propose the Celo Ecosystem to employ the Polygon CDK for its L2 migration. The CDK is an open-source toolset that facilitates developers in…

Celo Considers Transitioning To Ethereum Layer-2 With Polygon Chain

Celo, a blockchain platform, is exploring migrating from its standalone blockchain to an Ethereum (ETH) Layer-2 (L2) network. Originally, Celo had planned to utilize Optimism’s OP Stack, a customizable toolkit similar to Polygon (MATIC) but based on Optimism’s technology.  However, Sandeep Nailwal, co-founder of Polygon Labs, has proposed an alternative solution to the Celo community. Nailwal suggests leveraging Polygon’s Chain Development Kit (CDK), an open-source toolset that enables the creation of customizable Layer-2 chains powered by zero-knowledge (ZK) technology. Celo’s Potential Move To Ethereum Layer-2 Via Polygon In a recent…

‘End of an era’ — Consensys sunsets Truffle, Ganache amid shift to Metamask Snaps

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Ethereum developers are gathering to salute the teams behind Ganache and Truffle, two toolkits that were once vital in the early days of Ethereum smart contracts. In a Sept. 22 post, Consensys announced the sunset of the two products amid a broader shift to Metamask Snaps and SDK. Consensys is announcing the sunset of Truffle & Ganache, as we shift our focus towards empowering developers with @MetaMask toolings like Snaps & SDK. Recognizing the significance of Truffle & Ganache, we are partnering with @HardhatHQ to facilitate a smooth transition —…