1 eth in gbp

Bitcoin has been hovering around the 30K mark for a second day, forcing the rest of the crypto market to balance declines and gains. Ethereum has lost 1.2% in 24 hours but remains near 2,000. Altcoins from the top ten are mostly declining, losing between 0.7% (DogeCoin) and 3.8% (Polkadot). Tron is gaining 1.7% but has been little changed since the end of last week. Total crypto market capitalisation, according to CoinMarketCap, declined 1.1% overnight to $1.29 trillion. Bitcoin’s dominance index remained unchanged at 44.3%. Bitcoin has stalled at the psychologically significant 30K level The Cryptocurrency Fear and Greed Index was up 4 points to 12 by Wednesday and remains in “extreme fear”. The index’s recovery from lows since 2019 is due to a waning selloff but not a market reversal to growth. Bitcoin has stalled at the psychologically significant 30K level and has also lost the momentum of the rebound at the 76.4% Fibonacci line from the downward move from late March to last Thursday’s lows. This is a typical shallow counter-trend correction. The inability of the market to develop the offensive from the current levels would raise the question that the final target for the downtrend would be the 161.8% area of that move, which is near $11.3K. Such a setback would cancel out all upside momentum from October 2020. So far, this scenario looks exceptionally pessimistic and needs to converge the disappointment of crypto-neophytes on top of an actual collapse of the global economy and stock market. Such a dip would leave Bitcoin’s price at only 16% of its peak, which has happened several times in its history. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM However, a significant drop below previous cyclical highs ($20K) would be unusual, although Bitcoin was previously repurchased on similar drawdowns. Perhaps a more cautious scenario would be a dip into the $20-23K area to close the gap at the end of 2020 or a return to the 2017 highs. The realist-optimistic scenario points to the possibility of cautious buying by long-term investors from current levels. Following TerraUSD, another stable coin - DEI - lost its peg to the US dollar However, it does not suggest a new wave of explosive growth, as financial conditions and a return to the area at the start of 2021 are disappointing for those investors who have been buying cryptocurrencies as a way to make a quick buck. Moreover, inflation has weaned 10% off the dollar’s purchasing power over this period. Among the news that caught our eye were: According to CoinShares, institutional investors invested $274 million in crypto funds last week, a record since the start of the year. Following TerraUSD, another stable coin - DEI - lost its peg to the US dollar. According to the Congressional Research Service (CRS), the stable coin market needs strict regulation. Because of the speculative nature of cryptocurrencies, investors need more protection, or they could lose confidence in the markets, SEC chief Gary Gensler said. Read next: (TRX) TRON USD Decentralised Blockchain Platform That Focuses On Entertainment And Content Sharing. Altcoins: A Deep Look Into The TRON Network | FXMAG.COM The Portuguese authorities are considering introducing a tax on income earned from investments in digital assets. Dogecoin co-founder Billy Marcus called 95% of crypto-assets “trash” and suggested that 70% of investors don’t even understand the fundamentals of the crypto market.

On Wednesday, Bitcoin was down 3%, ending the day around $29,200, remaining near that mark on Thursday morning. Ethereum lost 4.3%. Other altcoins in the top 10 fell from 1.8% (BNB) to 9.8% (Cardano). The Cryptocurrency Fear and Greed Index was up 1 point to 13 by Thursday and remains in ‘extreme fear’ territory The total capitalisation of the crypto market, according to CoinMarketCap, fell 3.6% overnight to $1.24 trillion. The Bitcoin Dominance Index rose 0.4% to 44.7%. The Cryptocurrency Fear and Greed Index was up 1 point to 13 by Thursday and remains in ‘extreme fear’ territory. Bitcoin resumed its decline on Wednesday amid a sharp weakening of US stock indices, which fell even more than BTC. The Nasdaq and S&P 500 lost more than 4% on Wednesday. The impressive oversold strength accumulated by the crypto market after it collapsed 40% from late March levels (versus 16% for the S&P500) temporarily limits the declining scale. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM Nevertheless, the overall negative market sentiment has prevented the bulls from turning out in full force. So far, it isn’t easy to see reliable signs of oversold or rebound formation. We should be prepared for the cryptocurrency market to test support at last week’s lows again in the near term. We consider the area near 20K the final target for a potential selloff, which corresponds to Bitcoin’s long-term support line. Billionaire Bill Ackman said one of the main reasons for Terra’s collapse was a pyramid scheme of business Among the news that caught our eye were: Former US Federal Reserve chief Ben Bernanke called Bitcoin a harmful currency. He lashed out at cryptocurrencies, calling them “a great tool for extortionists”. Binance lost $1.6 billion due to the collapse of Terra tokens on the exchange’s balance sheet. Billionaire Bill Ackman said one of the main reasons for Terra’s collapse was a pyramid scheme of business. Investors were promised a 20% yield backed by a token whose value was determined by demand from new investors. Microsoft has warned crypto investors of an increase in the activity of a new type of malware called Cryware South Korea’s Financial Services Commission, amid tensions in the Stablecoin market, is proposing to register cryptocurrencies based on their level of risk to investors. Microsoft has warned crypto investors of an increase in the activity of a new type of malware called Cryware, which allows the theft of assets from hot cryptocurrency wallets. Birgit Rodolph, executive director of the German BaFin, called for universal regulation of the DeFi industry across the EU. Follow FXMAG.COM on Google News

Hi traders, today we’re seeing a similar pattern across several coins. After yesterday’s failed lower break attempt, ranges have developed. We’re seeing this pattern on a few, BTC, BNB, ETH, SOL, ADA, and XRP. We’ve zeroed in on Bitcoin as on the 4-hour chart. The range is quite symmetrical. We saw 29K come in yesterday as a demand point, and for now, price continues to hold above. The range can be broken down into inside action and overall action. On the side, we are looking at two possible directions. One, we see price maintain the pattern and move back to the bottom of the range. Two buyers regain momentum as we see a test or break of the range roof. If number two occurs, that will line up with the overall action idea of a new breakout due to steady demand seen yesterday rejecting seller attempts to break lower. We can also see a trend break on the four-hour chart and a fast trend break on the daily. If sellers can not only move back to the range base but break through it, we would look at the 27,600 area to possible offer buyer resistance If buyers clear the range, we could see resistance develop from 32,200. On the other side, if sellers can not only move back to the range base but break through it, we would look at the 27,600 area to possible offer buyer resistance. Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM It will be interesting to see which side wins this battle. Hoping all of our readers have a wonderful weekend. Bitcoin 4H Chart The post Crypto News: Bitcoin is range-bound. Will we see a break today? appeared first on Eightcap.

Bitcoin fluctuates around $30K and has crossed that line daily in one way or another over the past 12 days. A 3.5% increase in the day’s results on Thursday turned into another pullback on Friday morning. Ethereum has strengthened by 3.5% in the past 24 hours, finding itself pegged at $2000. By Friday, the cryptocurrency fear and greed index is unchanged at 13 points (“extreme fear”) Other altcoins in the top 10 gained between 0.4% (Solana) and 5.5% (XRP). Total cryptocurrency market capitalisation, according to CoinGecko, rose 3.1% overnight to $1.28 trillion. The Bitcoin Dominance Index rose 0.1% to 44.8%. By Friday, the cryptocurrency fear and greed index is unchanged at 13 points (“extreme fear”). Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM MicroStrategy CEO Michael Saylor said his company would buy bitcoin at any price until it reached a million dollars Bitcoin and the entire cryptocurrency market’s protracted tug-of-war promises to resolve with a strong move in one direction. However, there is hope for both bulls and bears. The latter has a minor advantage, as we saw this area touch down from above in January and June-July 2021. But now, all the fighting is concentrated below. Among the crypto news that caught our eye: MicroStrategy CEO Michael Saylor said his company would buy bitcoin at any price until it reached a million dollars. Bitcoin’s drop below $30,000 last week came after a large volume of the cryptocurrency entered exchanges. According to IntoTheBlock, traders have sent around 40,000 BTC to exchanges since May 11. According to an audit report by accounting firm MHA Cayman, USDT stable coin issuer Tether Holdings Limited reduced its reserves in the commercial papers by 17%, improving the quality of its funds. Read next: Altcoins: What Is PancakeSwap (CAKE)? A Deeper Look Into The PancakeSwap Platform| FXMAG.COM The Ethereum development team said it would migrate the Ropsten test network to the Proof-of-Stake (PoS) consensus algorithm on June 8 2022. According to the legislation, SEC chief Gary Gensler has warned that the regulator is ready to take new measures against unregistered cryptocurrency companies. The US Commodity Futures Trading Commission (CFTC) believes that amid a rise in cryptocurrency crime, the watchdog must strengthen regulation of digital assets to crack down on fraud and manipulation. Follow FXMAG.COM on Google News

Bitcoin fell between 5-12 May 2022 by over $13,000, i.e. over 33%. It increased the range of the ongoing from 28 March 2022 depreciation to over $21,000, i.e. 44%. In turn, counting from the peaks of November 2021, BTC decreased by over $42,000, i.e. 61%. Bitcoin Price (BTC/USD) Such a significant sale caused the exchange of the oldest virtual currencies to drop from $69,000 to below $27,000, which was the lowest level since December 2020. It is noteworthy that this trend did not stop around the critical level of support of $29,000, where various types of demand reactions have occurred many times in the past. It was no different now. This time, however, the rebound turned out to be extremely modest, and as a result, Bitcoin found itself in a horizontal trend. Considering that the consolidations are corrective formations, statistically, more often, the market will push out of this type of system in the direction consistent with the earlier move. This particular case increases the risk of a potential bottom breakout, which could signal a potential for further declines to the $24,000 region or even below $20,000. This scenario may also be supported by the fact that the upper limit of this system coincides with the measurement of 38.2% Fibonacci correction from an earlier downward impulse. Ethereum Price (ETH/USD)  The current situation on the Ethereum quotes is also identical. The price of this cryptocurrency fell between 3 April and 12 May this year by 52%, dropping to the Tech Support area of $1,750, the lowest level since July 2021. However, taking into account that the demand response that appeared around this support was much more modest than the rebound observed in this area already in May, June and July 2021, one can assume that in the end, it will turn out to be only a correction, after which the ETH rate will return to around $1,750. Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM A permanent drop below this price level could open the door for further declines to $1,400. There is another significant support around which we could expect a greater demand response. It is worth mentioning here, however, that although the consolidations are corrective formations, there is no rule determining when the market should break out of the system. This fact means that, although the statistics favour further declines before they happen, the ETH exchange rate may remain in the range of $1,900 to $2,150 for some time. (XRP) Ripple Price Looking at the XRP quotes, we can see that the price of this cryptocurrency fell between 28 March and 12 May this year by over 63%. This sell-off led to the breach of several important support zones and did not stop until around $0.36, where on 12 May this year, there was a demand response. Read next: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP | FXMAG.COM However, the subsequent rebound did not last too long. As a result, the XRP price has remained in the horizontal trend for several years. It assumes a return to the vicinity of $0.36 seems more likely. If, however, this support was permanently defeated, then the quotations of this cryptocurrency could even move towards $0.20. Binance Coin (BNB) The current situation on Binance Coin's quotes is also very interesting. The price of this cryptocurrency fell between 7 November 2021 and 12 May 2022 by over 67%. This sale only stopped around $260 technical support - on Thursday, 12 May this year, there was a demand response. Due to the rebound that has continued since then, the BNB price has risen by more than 51%, thus returning to the area of ​​previously defeated support (now resistance) of $330. If a larger supply relationship is around this level, signalling its potential rejection, the BNB price could return to around $260 or even drop further to the $200 region. It’s finally time to get down to business. Start serious trading with Geco.one - top 20 cryptocurrencies, 1:100 leverage, staking, low fees, intuitive design, no KYC. Trading on derivatives has never been easier. Join us https://app.geco.one Follow FXMAG.COM on Google News

Bitcoin’s fluctuations continue to shrink, meaning the spring is being compressed further. The lower bound of the trading range has moved to $29K, from where the BTCUSD has received support since the start of active trading in New York. The upper bound of the formed triangle has moved to $30.5K against current prices at $30.0K, reflecting a 1.8% gain over the past 24 hours. Ethereum has added 0.3% in the past 24 hours, with other altcoins in the top 10 from a 2.9% decline (Avalanche) to a 1.0% rise (BNB), but all faring worse than the crypto flagship. Total coin capitalisation, according to CoinMarketCap, rose 1.1% to $1.28 trillion, with the Bitcoin Dominance Index up 0.4% to 44.7%. The Cryptocurrency Fear and Greed Index was down 1 point to 11 by Wednesday and remains in “extreme fear”. The bitcoin price is in consolidation mode, equally dangerous for both bulls and bears. Both gain liquidity over time and get used to the current prices. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM On the market cycle side, the chances are higher than the current consolidation will culminate in a breakdown of the lower boundary and liquidation of stop orders, reinforcing the initial downside momentum. Behind the pessimistic outlook is a tightening of monetary policy with slowing economic growth, which puts retail investors in the mode of withdrawing capital from cryptocurrency in favour of consumption. It does not help that the expectations of getting rich fast through cryptocurrencies are not paying off, as bitcoin is worth as much now as it was in early 2021. The ECB warned that the high correlation between cryptocurrency and stock markets... Investing in the industry is becoming more professional, moving beyond naïve attempts to buy and hold. According to CoinShares, investors are withdrawing money from bitcoin and investing in blockchains that support smart contracts, such as Cardano and Polkadot. Net capital outflows from crypto funds last week amounted to $141m. The ECB warned that the high correlation between cryptocurrency and stock markets is usually seen in times of dire economic conditions and will no longer allow the diversification of investment portfolios with digital assets. Follow FXMAG.COM on Google News

Bitcoin ignored the positive dynamics of US stock indices on Wednesday, further reducing the amplitude of its fluctuations. The first cryptocurrency has been moving in a $29.5-30.0K range since the start of active trading in New York. We caution that this reduction in volatility risks turning into an explosion in the near term, potentially setting off momentum for a few days or weeks. BTC Price A formal break of consolidation would be considered a consolidation beyond the previous local extremes, which are located at $30.2K and $29.3K. Going beyond those limits in a sharp move promises to trigger a wave of liquidation of positions that the bulls and bears have brought closer to the current price due to low volatility and bored speculators in recent days. Outside of Bitcoin, the situation is more worrying. The total capitalisation of the crypto market, according to CoinMarketCap, has fallen 1.6% in the last 24 hours to $1.25 trillion. Bitcoin’s dominance index is 0.4 points to 45.1%. Ether Price (ETH/USD) Ethereum lost 3%, dropping to 1915, the lower end of a steady trading range for the past two weeks. The daily candlestick chart clearly shows a sequence of increasingly lower local highs. This dynamic is a sure sign of a sustained sell-off in crypto, temporarily covered by Bitcoin’s stability. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Bitcoin’s stability against such an external backdrop may be nothing more than a temporary consolidation of capital in the most liquid cryptocurrency and is supported by improved sentiment in stocks. Crypto Fear And Greed Index The cryptocurrency Fear and Greed Index was up 1 point to 12 by Thursday and remains in “extreme fear”. Ripple lawyer Stuart Alderoty criticised the stance of US Securities and Exchange Commission Chairman Gary Gensler and the SEC’s desire to seize administrative control of the cryptocurrency market. Stellar will provide its technology to the Central Bank of Brazil to develop the digital currency. Follow FXMAG.COM on Google News

After a fall of more than $13,000 that we saw between 5 and 12 May, Bitcoin stopped in the area of ​​$28,500 technical support. There have been many different kinds of demand reactions in this area. It was no different now. Bitcoin Price (BTC/USD) This time, however, this rebound turned out to be highly modest; as a result, Bitcoin has been moving in a horizontal trend for three weeks. The rebound from the lower bound of this formation observed last weekend may drive an increase towards its upper limit, i.e. resistance of $31,500. However, it seems highly probable that the increases observed since Saturday will not lead to a permanent change in the market attitude and the return of BTC to the path of long-term gains. For this to happen, the quotations of the oldest virtual currencies would have to break above $31,500. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Price Of Bitcoin Reaching $20K!? Considering that consolidations are corrective formations and, statistically, more often, the market breaks out of these systems in the direction consistent with the previous move, there is a high probability that there will be a more significant supply response in the area of this resistance. It could signal a potential for further declines in the region of $28,500, even further toward $24,000, or even below $20,000. This scenario supports the fact that the upper limit of this system coincides with the measurement of 38.2% Fibonacci retracements from an earlier downward impulse. This prediction can change if Bitcoin breaks above the technical resistance of $31,500. Then we could expect a continuation of increases towards $34,500, or further to $37,000. Ether Price (ETH/USD) Looking at the Ethereum quotes, we notice that, in line with our last week's projection, the cryptocurrency's rate in the second half of last week broke below the technical support of $1,900 and slipped as much as $1,730. Read next: Altcoins: Tether (USDT), What Is It? - A Deeper Look Into The Tether Blockchain| FXMAG.COM It is where the demand reaction reappeared last weekend. As the new week starts, it has led to a re-test of a previously defeated support (now resistance) of $1,900. The immediate future of ETH will now depend on what happens around the level currently being tested. Its permanent defeat, i.e. a break above $1,900, could open the way to further increases towards $2,150 or further towards $2,350. However, the emergence of a more significant supply response at this point, signalling a potential rejection of the resistance currently tested, could, in turn, indicate a potential for a further decline to $1730 or even further toward $1400. Polygon (MATIC) Looking at the MATIC quotations, we can see its price has been in the horizontal trend for almost three weeks between the technical support of $0.57 and the resistance of the $0.75. If the increases observed since last Saturday will continue, the MATIC quotations could return to $0.75. However, considering that this resistance coincides with the measurement of 38.2% Fibonacci retracements, it seems highly probable that more supply pressure will reappear in its vicinity. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM It is also worth remembering that consolidations are corrective patterns, which in this particular case increases the probability that the market will try to break out of this pattern with the bottom and further decline even towards $0.45. It’s finally time to get down to business. Start serious trading with Geco.one - top 20 cryptocurrencies, 1:100 leverage, staking, low fees, intuitive design, no KYC. Trading on derivatives has never been easier. Join us https://app.geco.one

Summary:  In August, Ethereum’s transition from proof-of-work to proof-of-stake known as the merge is expected to take place, and the first public test of the merge is set to occur tomorrow. The merge might be one of the most influential events in the history of crypto by impacting Ethereum both technically and economically. We look into the ways that the merge changes Ethereum. Since releasing the first Ethereum whitepaper in 2014, Ethereum’s developers have explicitly mentioned their desire to eventually adapt proof-of-stake instead of proof-of-work, but due to technical difficulties, it has not previously been feasible. Yet, Ethereum’s transition from proof-of-work to proof-of-stake - known as “the merge” - is now closer than ever. On the 8th of June, the first public test of the merge is set to occur subsequent to seven other minor tests. On this day, the existing test network Ropsten is set to perform a merge. If the Ropsten merge is successful, Ethereum will merge two other existing test networks, ahead of the actual merge. With this knowledge and insight from the Ethereum Foundation, it seems reasonable to consider that the merge will take place in August, considering that the tests turn out well. With the merge taking place in the near future, we look at the ways it changes Ethereum both technically and economically. From miners to stakers The most substantial change is the transition from proof-of-work to proof-of-stake, fundamentally changing by what method the network verifies transactions. Instead of tremendous computing power put at the network’s disposal by miners, holders of Ether are those to verify transactions. This means that holders have the option to lock their Ether as collateral to be able to verify transactions, in other words, stake their Ether. In return, they receive the transaction fees alongside the security cost. The latter is the newly issued Ether to financially encourage miners at this point in time, but it later goes to stakers for verify transactions. With proof-of-stake, the main security feature is that stakers can be slashed. In case the network determines that a staker has behaved unethically, for instance, tried to reverse transactions, the network can take some or all of their staked Ether. More environmentally friendly When adapting proof-of-stake, Ethereum reduces its energy consumption by around 99.95%. To understand why we must again consider the differences between the consensus mechanisms. With respect to Ethereum, a new block is currently finalized around every 13th second. In these 13 seconds, every miner fights to be the one to finalize the block. This involves applying computing power and thus requires electricity. However, in the end, it is solely one miner that finalizes the block and verifies the transactions, even though other miners have spent a tremendous amount of energy on the same block. In terms of proof-of-stake, one validator is randomly chosen to finalize a block based on one’s amount of Ether staked. This happens prior to the block, so no other staker is trying to finalize the same block, ultimately reducing Ethereum’s energy consumption by around 99.95%. Improved and fairer economics Because the energy required to verify transactions on Ethereum drastically decreases, the security cost can likewise decline massively. With proof-of-work, Ethereum’s security cost amounts to around 5.4mn Ether yearly. This means that 5.4mn new Ether gets issued yearly to the present supply of around 120mn Ether to encourage miners to verify transactions. At the time of the merge, the security cost declines to around 0.5mn Ether yearly being compensated to stakers. This is an extensive reduction in the inflation of Ethereum, which might even make Ethereum deflationary since the paid transaction costs are expected to outpace Ethereum’s security cost. With respect to transaction fees, a substantial part of these get burned, hence removed from the supply. Over time this might result in a supply shock because the market is used to absorbing 5.4mn newly issued Ether yearly but suddenly only around 0.5mn Ether is to be issued.One might also argue that proof-of-stake is economically fairer for holders of Ethereum than proof-of-work. With proof-of-work, you can technically verify transactions without holding Ether as long as you invest heavily in computing power. This means that holders are not compensated for the inflation and transaction fees, effectively diluting them. In the case of proof-of-stake, stakers are compensated fairly for the inflation and transaction fees. Not significantly more scalable, though By default, the merge does not make Ethereum significantly more scalable. If the merge turns out well, the merge decreases the block size from around 13 to 12 seconds but maintains the same block size. This ultimately leads to an increase in transactional output of 7.5% but not much more than that. Based on the present schedule, Ethereum will first significantly improve scalability sometime in 2023. It is intended that shard chains get implemented around here, which will massively improve Ethereum’s scalability and possibly require even less hardware to verify transactions. 12.8mn Ether to be unlocked later On December 1st, 2020, the proof-of-stake version of Ethereum went live, known as the Beacon Chain. The Beacon Chain is technically the one to be merged with proof-of-work based Ethereum when the merge occurs. The Beacon Chain has been finalizing empty blocks since it went live to ensure that it works as intended. To verify these blocks, Ethereum holders have been able to stake Ether on the Beacon Chain. Over 10% of the total supply of Ether, around 12.8mn Ether, is now staked on the Beacon Chain.However, by staking Ether on the Beacon Chain, the Ether has been locked. It was originally planned to unlock the staked Ether when the merge occurs, but to simplify the merge from a technical point of view, Ethereum’s developers have chosen not to unlock the staked funds at the time of the merge. The unlocking will likely follow 6 months after the merge, in which the 12.8mn Ether alongside the afterward staked Ether will be unlocked. The compensated security cost and transaction fees to stakers are likewise locked in these months. This means that presumably until next year no newly issued Ether nor transaction fees are expected to hit the circulating supply, potentially limiting selling pressure. On the other hand, when the staked Ether is unlocked, which is not unlikely to be above 15mn Ether at that time, it might result in severe selling pressure. More of the same The merge will not impact Ethereum by other substantial means. First, it is not planned to impact or require holders of Ether to take an active stance. The merge will occur without them noticing. Secondly, it should not influence tokens or decentralized applications presently utilizing Ethereum. This means that deployed tokens and smart contracts on Ethereum are planned to work like before the merge.Although Ethereum’s developers have worked on the merge for years, it can turn out bad or be further delayed. Just like everything else in crypto, there are simply no guarantees.   Source: What you need to know about the Ethereum merge | Saxo Group (home.saxo)

Since breaking down from a long-term consolidation pattern, Ethereum (ETH) has struggled to sustain an upward movement and create a bullish structure.       ETH has been falling since reaching an all-time high price of $4,868 in Nov. After bouncing this Jan, the price created a lower high in March (red icon) and has been falling at an accelerated rate since.        The downward movement has so far led to a low of $1,700 on May 12.  An important development is that the price has broken down from an ascending parallel channel which had previously been in place since May 2021. A breakdown from such a long-term structure could cause a similarly long-term drop. Furthermore, the RSI has decreased below 50, in what is considered a sign of a bearish trend. ETH/USD Chart By TradingView Mixed readings The daily chart provides a mixed outlook. On May 8, the price broke down from a descending parallel channel.  Afterward, it validated it as resistance twice, more specifically on May 31 and June 7 (red icons).  However, the RSI has generated a bullish divergence (green line), whose trendline is still intact.  So, while the price action is bearish, the readings from the RSI are bullish.  ETH/USD Chart By TradingView A closer look at the six-hour time frame shows that ETH is trading inside a symmetrical triangle. While this is considered a neutral pattern, it is occuring after a downward movement.  As a result, it is possible that it will lead to the continuation of the downward movement. ETH/USD Chart By TradingView ETH wave count analysis Cryptocurrency trader @TheTradingHubb tweeted a chart of ETH, stating that the price could soon complete wave A of a long-term A-B-C correction. Source: Twitter While this is a possibility, it is not yet certain of the A wave is complete.  If the short-term A:C (white) waves have a 1:1 ratio, this would lead to a low of $876 prior to the reversal.  Furthermore, the exact shape of the ensuing retracement is not yet determined. ETH/USDT Chart By TradingView For Be[in]Crypto’s latest bitcoin (BTC) analysis, click here Disclaimer All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.   RELATED TOPICS Ethereum (ETH) Ethereum Analysis Ethereum Price Ethereum Trading Source: Ethereum (ETH) Generates Bullish Divergence Despite Bearish Price (beincrypto.com)

Relevance up to 14:00 2022-06-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The Bermuda government continues its ambitious plans to become a cryptocurrency hub despite the huge slowdown in the market in 2022. According to Bermuda's Economy and Labor Minister Jason Hayward, a small territory known for its pristine pink sand beaches and attractive tax policies has been actively developing its crypto sector since 2017. On June 3, he noted that the government remained unmoved by the recent crash caused by the collapse of the Terra ecosystem, as the market had survived a lot since 2017. In an interview with the media, Hayward identified the experience of the economy and local regulators in dealing with foreign businesses as a key factor that will help Bermuda become a cryptographic hub. He also stated that the stock market crash would not prevent the plans from being implemented: "We are aware of the recent devaluation of cryptocurrency prices and we are convinced that this does not threaten the island's ability to become a cryptocurrency hub," he said. So far, the Bermuda Monetary Authority has awarded a total of 14 licenses to crypto companies to operate outside the British Isle, four of which were approved in 2022, noted Crag Swan, chief executive of UMB. Technical Market Outlook: The down trend on the ETH/USD pair is still intact as the bears are approaching the last week low located at the level of $1,701.The bearish pressure increases, so in a case of a breakout lower, the next target for bears is seen at the level of $1,420. In order to terminate the down trend, the bulls must break through the key short-term technical resistance located at the level of $2,199. The nearest technical resistance is located at $1,863 and $1,916.     Weekly Pivot Points: WR3 - $2,200 WR2 - $2,120 WR1 - $1,939 Weekly Pivot - $1,827 WS1 - $1,666 WS2 - $1,570 WS3 - $1,388 Trading Outlook: The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $2,000 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,420.   Read more: https://www.instaforex.eu/forex_analysis/279283

Bitcoin was down 0.3% on Thursday, continuing to hover around $30K. This mild decline was a bonus of last month's loss of correlation between the cryptocurrency and stock markets. Ethereum lost 0.4%, settling near $1800. Other top-10 altcoins showed mixed dynamics, ranging from a 2.5% decline (Cardano) to a 3.6% rise (Solana). Financial market veteran Peter Brandt believes Ethereum is in a downward triangle and could fall to $1268 within a month. The total capitalisation of the crypto market, according to CoinMarketCap, fell 0.2% overnight to $1.24 trillion. The cryptocurrency fear and greed index were up 2 points to 13 by Friday and remains in "extreme fear" mode. Bitcoin has crossed the $30K mark almost daily over the past month, with no significant preponderance of buyers or sellers to form a clear trend. Generally, the correlation gap between cryptocurrencies and stock markets is long-term good news as it attracts the attention of professional investors. Weakness in equity and bond markets, sagging gold and the murky outlook for the real estate market are turning their eyes to cryptocurrencies as another tool in a diversified portfolio. CNBC's Mad Money host Jim Cramer has changed his mind about investing in cryptocurrencies, calling BTC and ETH the best long-term investments. However, they should not account for more than 5% of a portfolio. PwC, an audit firm, reported that most hedge funds invest less than 1% of their assets in cryptocurrencies because of regulatory uncertainty in the industry. According to a Deloitte survey, 75% of US retailers will implement support for cryptocurrency payments within two years. USDT, the world's most prominent staple by market capitalisation, will be available on the Tezos blockchain powered by the Proof-of-Stake consensus mechanism. The USDT ecosystem is now open on 12 networks, including Ethereum, Solana, Polygon, Tron and Algorand.

Relevance up to 11:00 2022-06-11 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. The summer of 2022 becomes the key for the future of the main altcoin Ethereum. On the one hand, the asset is approaching a historical event and the transition to Proof-of-Stake. On the other hand, the asset is trading near the dangerous level of $1.8k, and risks updating the local bottom near the level of $1.3k. This development is indicated by both fundamental factors and technical metrics. The coin largely echoes the movement of Bitcoin and is approaching a defining moment. The asset is completing the formation of a "wedge" figure on the daily chart. This indicates an increase in volatility, as well as a likely momentum out of the narrowing range. The technical indicators point to an ongoing period of consolidation. However, the RSI and the stochastic oscillator are gradually dropping to the lower border of the bullish zone, which indicates a slight dominance of sellers.   In addition, there is a constant influx of ETH coins to exchanges, which is a negative factor in anticipation of the transition to PoS. At the same time, it should be noted that there are impulsive withdrawals of coins from cryptocurrency exchanges, but they are local in nature and do not occur on an ongoing basis. In many ways, this situation was formed due to the growing level of Bitcoin dominance. Ether failed to become a full-fledged deflationary asset, including due to the transition to Proof-of-Stake.     The Ethereum team has already migrated the Ropsten testnet to the PoS consensus algorithm. The first transactions have already been included in the testnet based on the new algorithm. The merge did not go smoothly, and the developers noticed problems with the proposal of new blocks by the validators. The team is currently working on a solution to this problem. In the long term, as the ETH network migrates to PoS, Ethereum's influence on the crypto market should increase. However, in the current environment, investors are not very enthusiastic about everything that happens, and there are two reasons for this. Both of them are directly related to the bear market and its consequences. The total cost of funds in DeFi applications has decreased by 55% since the beginning of 2022. This indicates a low level of liquidity, and many projects have to adjust in order to survive. Transactions on the ETH network have also dropped to a minimum, as decentralized applications are the main source of transactions on the main altcoin network. A bear market will significantly "cleanse" this market, which will negatively affect the Ethereum ecosystem and the capitalization of the coin.     The second reason is the current macroeconomic situation. The main altcoin is not an important tool in the current environment, when the main goal of investors is capital protection and related investments. CoinShares notes that more and more VCs are opting for Bitcoin-based products due to high inflation rates. Similar forecasts are given in the central bank of the EU and the USA. In the current conditions, ETH completely loses the competition to Bitcoin.         In the current situation, the further movement of the ETH price will largely depend on Bitcoin. The main digital asset increased its dominance level to a six-month high, due to which the correlation of the altcoin with BTC increased significantly.     And if Bitcoin makes a downward breakdown of its own triangle, then there is every reason to believe that the ether will follow a new local bottom, which runs in the $1.3k–$1.4k area.   Read more: https://www.instaforex.eu/forex_analysis/313098

Bitcoin is losing for the seventh consecutive day, at one point on Monday morning, falling below $25K. The loss in seven days of selling is approaching 18%, bringing the rate to its lowest since December 2020. Ethereum has lost 28% in seven days. Altcoins in the top 10 fell in price from 14.5% (Tron) to 32% (Solana). The total capitalisation of the crypto market, according to CoinMarketCap, sank 20% for the week, approaching the 1 trillion mark and crossing it at some point in the morning. As the price falls, so does trading volume, meaning we see investors fleeing the crypto market. However, the traditional market is suffering from the same symptoms. The cryptocurrency Fear and Greed Index dipped to 11 points by Monday. Two similarly prolonged swings of this index in the 10-20 range were in December 2018 and March 2020. In the first, it was the end of the crypto-winter; in the second, it was the final chord of the sell-off. However, it may be too early to rush to redeem the drawdown. Bitcoin does not seem to have closed the gestalt yet, having not tested the 200-week moving average as it did in the previous two cases. It is now passing through 22K. A more ambitious target for the bears would be an attempt to push Bitcoin back to the 2017 highs region, above $19K. US Treasury Secretary Janet Yellen called cryptocurrencies a ‘very risky’ option for retirement savings. Galaxy Digital CEO Mike Novogratz warned investors of a prolonged phase of market consolidation amid tightening monetary policy by the US Federal Reserve. Cardano blockchain founder Charles Hoskinson believes there are positives to be found even in the current market situation, as a bearish trend opens new opportunities for the crypto sphere. The Central Bank of Canada reported that the share of its citizens owning BTC almost tripled to 13% in 2021. The Swedish Central Bank has called for a ban on bitcoin and other Proof-of-Work cryptocurrencies because of the environmental impact.

Analyst who predicted the bear market of 2018 believes Bitcoin and Ethereum prices are very close to their bottom. Kevin O’Leary of Shark Tank detailed his crypto holdings include Ethereum and scaling solution MATIC. Analysts argue that a drop below $1,070 could push Ethereum prices lower. The cryptocurrency analyst known for accurately predicting crypto bear markets believes Ethereum is close to printing cycle lows. Analysts believe Ethereum price could continue to plummet lower. Ethereum price could hit bottom soon? The crypto strategist Smart Contracter accurately called the bottom of Bitcoin and Ethereum during the 2018 bear market. The analyst is now back with his prediction for the two largest cryptocurrencies and believes BTC and ETH are close to their cycle low. The analyst told his 208,000 followers on Twitter that Ethereum has gone through a capitulation phase and is now trading at a level that offers strong support. Smart Contracter is quoted in his recent tweet: BTC and ETH are both at their weekly respective 200-week moving averages. Bottom is very, very close in my opinion, maybe marginal new lows on lower timeframes but this is the spot to start accumulating in my opinion. This is pure unadulterated capitulation. ETH-USD price chart Kevin O’Leary is bullish on Ethereum Kevin O’Leary, a Canadian entrepreneur and investor at Shark Tank, recently revealed the cryptocurrencies in his portfolio. O’Leary has shared his investment strategy when the crypto market is hit by massive volatility. The Shark Tank star and billionaire investor abide by the general rules of portfolio theory when allocating capital to cryptocurrencies. In an interview with the Bankless podcast, O’Leary shared the rules of capital allocation in his portfolio, implying a bullish outlook on Ethereum, one of the cryptocurrencies he holds. Ethereum price drop below $1,070 could push the altcoin to new low Analysts have evaluated the Ethereum price trend and argue that $1,070 is major support for ETH, and a drop below this level could put a lot of pressure on bulls. The altcoin’s price could slide to support at $1,000 in the near term. ETH-USD price chart Ethereum price could enter the three-digit territory FXStreet analysts believe Ethereum price could decline and plummet lower, entering the three-digit territory. For more information, watch this video:

Relevance up to 14:00 2022-06-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Technical outlook: Ethereum dropped through the $1,012 low early this week before finding interim support. The crypto is seen to be trading close to the $1075 mark and is expected to resume its rally towards $1,920 initial resistance soon. Bulls are looking poised to hold prices above the $1,000 mark to keep the near term structure intact and constructive. Ethereum has carved a meaningful downswing between $4,850 and $1,012 levels as seen on the daily chart. Ideally, prices need to retrace the above drop before the next leg lower could resume. Immediate price resistance is seen through the $1,920 mark and a minimum push towards that is expected in the near term. Ethereum might have terminated its decline around the $1,012 mark and could be preparing to resume its rally. A push above $1,244 will be required to confirm that bulls are back in control and further acceleration towards the $1,920 mark. Aggressive traders might be preparing to initiate fresh long positions against $1,000. Trading plan: Preparing to resume higher through $1,920 mark against $1,000 Good luck!   Read more: https://www.instaforex.eu/forex_analysis/280641

Relevance up to 09:00 2022-06-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Tether, the largest stablecoin and the third largest cryptocurrency in the world, fell victim to a massive DDOS attack on June 18. According to a tweet by Paolo Ardoino, the company received a ransom note from hackers who attacked its system. He explained, however, that this was by no means new. Tether has dealt with similar situations in the past. As a result of the attack on the stablecoin site, 8 million queries were recorded in 5 minutes. On a normal day, she only receives 2 inquiries per 5 minutes. The company first reported the attack about 2 hours after it was launched. While tether has been losing market share in the past few weeks, other stablecoins, such as USD Coin (USDC), have been gaining in value. USDC's market capitalization has risen from approximately $ 48 billion in mid-May to $ 55 billion today. The dwindling market cap of the tether is taking place in the face of ongoing panic in the market. The aggregate value of the entire cryptocurrency market has recently dropped below $ 1 trillion for the first time since February 2021. Technical Market Outlook: The ETH/USD pair had made the Bullish Engulfing candlestick pattern at the H4 time frame chart and is continuing the up move. The recent local high was made at the level of $1,156, however, it is still not enough to terminate the down trend just yet. The next target for bulls is seen at the level of $1,233, which is the technical resistance. The intraday technical supports are seen on the levels of $1,048, $1,008 and $1,000. The larger time frame chart trend remains down and as long as the key short-term technical resistance is not clearly violated, the outlook remains bearish.     Weekly Pivot Points: WR3 - $2,249 WR2 - $1,737 WR1 - $1,420 Weekly Pivot - $1,161 WS1 - $818 WS2 - $551 WS3 - $206 Trading Outlook: The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $1,420 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,000. Please notice, the down trend is being continued for the 11th consecutive week now.   Read more: https://www.instaforex.eu/forex_analysis/280793

Relevance up to 16:00 2022-06-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Ethereum (ETH/USD) fell to new lows at $878 on Saturday, this level was last seen on Jan 3, 2021. Since this level, Ethereum has been bouncing and has recovered over 30%. It is currently trading at around 1,125 about 1/8 Murray. Cryptocurrency market sentiment has stabilized. Bitcoin has bounced from the low of 17,566 to $20,970 with a gain of more than 20%. Retail buying, profit-taking on short positions and strong overselling have all acted as support for a strong bottom which is likely to see the market recover some of the losses of the last few weeks. Another fact that sets the stage for the recovery of cryptocurrencies is the change in market sentiment. Risk assets such as the Nasdaq-100 index are bouncing and this could favor the recovery of Ether in the coming days. According to the 4-hour chart, we can see that Ether reached the -1/8 Murray line at 875. This level represents extremely oversold conditions which were proven when the eagle indicator reached the 5-point level. Since June 18, the eagle indicator has been giving a positive signal. So, any pullback in ETH is likely to be seen as an opportunity to buy with targets at the strong resistance of 2/8 Murray located at 1,250. Seeing that Ether broke the 21 SMA and is now consolidating above this level adds a positive outlook. As long as it keeps trading above $1045, a recovery is likely in the next few days. If the bullish trend persists and the price breaks sharply and closes above 2/8 Murray at 1,250 on the daily chart, we could expect an upward acceleration. The price could reach the EMA 200 located at 1,774, which would mean a recovery of more than 80% of ETH /USD. On the downside, if ETH consolidates below the 0/8 Murray located at the psychological level of $1000, we could expect a sharp drop and it could reach the area of -1/8 Murray at $875. Our trading plan for the next few hours is buy ETH/USD above 1/8 Murray located at 1,125 or wait for a technical bounce from 1,045 (21 SMA) with targets at 1,250 and 1,574. The eagle indicator is giving a positive signal which supports our bullish strategy.   Read more: https://www.instaforex.eu/forex_analysis/280907

Relevance up to 12:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Technical outlook: Ripple grew above $0.33000 intraday on Tuesday in line with our projections. The crypto is seen to be trading close to the day's high at this point in writing and is expected to push through $0.41000 going forward. Bulls are now poised to hold prices above $0.28700 to keep the structure intact. Ripple seems to have completed/terminated a larger-degree corrective drop from around $0.28700. The crypto has been dropping since the $1.91600 highs registered in April 2021 and might have completed a potential standard flat correction. If the above structure holds well, prices will resume the rally from current levels and will take out immediate price resistance at $0.41000. A price break above $0.41000 will confirm that bulls are back in control and that the potential trend might have reversed. Potential targets for Ripple are around $0.65000, followed by $0.92700 and up to $1.31800. Traders might be preparing to initiate fresh long positions from current levels with risk below $0.28700. Trading plan: Potential rally through $0.4100 and $0.65000 against $0.28000 Good luck!   Read more: https://www.instaforex.eu/forex_analysis/281081

Ethereum collateral position set a new record as 71,863.47 ETH were liquidated on June 18. Independent market analyst told his followers that latest Ethereum price rally would make for a clean fakeout. Analysts believe Ethereum price could plummet to $750 in the bear market, an 85% drop from all-time high. Ethereum price has rebounded from its recent slump, outperforming Bitcoin. Experts believe the recent rebound could end up being a “clean fakeout” as liquidations hit large Ethereum collateral positions. Some analysts are projecting a bearish outlook on Ethereum price. Largest Ethereum collateral position liquidated Based on data from Dune Analytics, a crypto data intelligence platform, the wallet with code 0x2291F52bddc937b5B840d15E551e1DA8C80c2B3c liquidated a 71,863.47 ETH collateral position on Liquity at $927.13, at 19:39 GMT on June 18. This set the largest single liquidation record for Liquity. Liquity is a decentralized borrowing protocol that allows users to draw loans at 0% interest against an Ethereum collateral. Loans are paid out in LUSD, a USD-pegged stablecoin on Liquity protocol. The chart below represents the hourly total value locked (TVL) change over the past week on Liquity and the largest ETH liquidation is represented on June 18. Hourly TVL Change (7 days) Liquity Ethereum price gained 30% in two days, outpaced Bitcoin After its massive recent slump, Ethereum price has bounced back, rallying 30% within 48 hours. Experts noted that this ETH recovery has outpaced Bitcoin as the altcoin made a comeback above $1,100 within two days. Experts noted that Ethereum is currently the best-performing asset in the top five cryptocurrencies by market capitalization. Ethereum started a short-term uptrend after dropping to the support zone at $880 on June 19 and climbed above $1,100 moving into a short-term bullish zone. The altcoin now faces major resistance near the $1,150 and $1,160 levels. ETH-USD price chart Analyst calls “clean fakeout” in Ethereum price PostyXBT, a crypto trader and analyst, told his 79,900 followers to be careful of the recent rebound in Ethereum price. The analyst argued that the move “would make for a clean fakeout.” The analyst was quoted in a tweet: [Ethereum]... stopped out on the reclaim of the level. It looks like an opportunity to flip long towards $1250 but $btc still hasn't reclaimed it's like for like level. Would make for a clean fake out. Be careful. Justin Bennett, co-founder of Cryptocademy, supports this fakeout prediction. Bennett noted that fakeouts to one side of the pattern trigger extended moves in the opposite direction. He considers $900 and $780 as support levels for Ethereum price. Ethereum price could drop to $750 for this reason Wendy O, the host of the O show and a leading crypto analyst, believes Ethereum price could plummet to a $750 low. Wendy argues that the current price of Ethereum is close to the beginning of 2021. Typically in bear markets, Bitcoin and Ethereum prices can drop up to 85%. If this holds true, an 85% drawdown from Ethereum’s all-time high of $4,800 would lead to $750 and this is the level that Wendy is watching out for. Wendy told NextAdvisor, Ethereum hit an all-time high in November 2021 at roughly $4,800, so an 85% correction would lead to around $750. However, it’s not going to be a straight shot down. Key investment strategy before next Ethereum bull run Analysts at FXStreet have recommended dollar cost averaging (DCA) as the ideal investment strategy before Ethereum’s next bull run. They consider $900 the bottom for Ethereum price and recommended $500 investments when price hit $1,000 and again when it hit $1,100. For more information, watch this video:

Relevance up to 07:00 2022-06-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Paolo Ardoino, CTO of Tether, announced that the company will undergo a series of audits involving several large specialized companies. In a tweet, Tether announced that it intends to conduct a series of talks with top consulting companies in the coming days. Immediately there was speculation that the recent market crash and the collapse of Terra's stablecoin may have put the company in a difficult position and that it is trying to rectify its mistakes. On the other hand, in just one week, stablecoin faced record payouts of its currency. As much as 12% of USDT evaporated from circulation. This is one of the largest withdrawals in history. Perhaps even second to the $ 16 billion payout by Washington Mutual that led to its bankruptcy in 2008. On May 12, Tether lost its link to the dollar for several hours. Then its rate fell to $ 0.95, triggering panic in the markets. Doubts have arisen over Tether's cash reserves for some time. Apparently, the next scheduled audits are to focus on this issue. Ardoino, who has been trying to assure the solidity of the company's reserves for some time, said Tether had reduced commercial paper holdings from $ 40 billion to $ 15 billion in the past eight months. In addition, there has been a greater shift in reserves towards securities with maturities ranging from zero to three months. Technical Market Outlook: The ETH/USD pair has broken below the short-term trend line support after the second Pin Bar candlestick was done at the level of $1,191. This recent high is still not enough to terminate the down trend just yet. The next target for bulls is seen at the level of $1,233, which is the technical resistance. The intraday technical supports are seen on the levels of $1,048, $1,008 and $1,100. The larger time frame chart trend remains down and as long as the key short-term technical resistance is not clearly violated, the outlook remains bearish.     Weekly Pivot Points: WR3 - $2,249 WR2 - $1,737 WR1 - $1,420 Weekly Pivot - $1,161 WS1 - $818 WS2 - $551 WS3 - $206 Trading Outlook: The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $1,420 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,000. Please notice, the down trend is being continued for the 11th consecutive week now.   Read more: https://www.instaforex.eu/forex_analysis/281209

Ethereum price sees momentum building for a pop towards $1,243.89. With several central banks this week signalling near the end of the rate hike cycle, markets are finding equilibrium. Expect that space ETH price to rally higher and could return to $1,688.39. Ethereum (ETH) price is technically set to make a killing with a possible 8% intraday gain in sight and, in the near term, a whopping 45% gain forecast. The sudden change comes after a few central banks signalled that the end of their monetary tightening is near, and comments from Powell make clear that the FED will push the US into a recession deliberately to cut short inflation and, by doing so, could trigger a massive weaker dollar. That opens up massive room for ETH price action to manoeuvre in, return to the base of the triangle at $1,688.39 and book 45% gains. ETH price gearing up for 45% gains Ethereum price opens quite bullish this morning in the ASIA PAC session after bulls faced headwinds this week but look to survive and eke out weekly gains going into the weekend. As grim and dire as last week's outlook, the background is changing this week with different rhetoric as markets assess the new information from central banks. As it stands, the congressional hearing of Powell revealed that the FED is planning to push the US into recession to tame inflation deliberately. ETH price could trade off this information as a recession in the US would mean a weaker dollar, and several other central banks have notified markets that they are near ending their tightening path, which means that money conditions could start to normalize again with cash inflow set to restart for cryptocurrencies. On the back of that, ETH price could jump above $1,243.89 and have the field wide open to rally in, with sight set on the base of the bearish triangle from May at $1,649.37. ETH/USD daily chart The delicate equilibrium currently playing with the situation in Ukraine and Russia could easily break down again with the cut-off from supply chains to the Russian enclave Kaliningrad. That could see a Russian military response and ramp up tensions again on the geopolitical stage. That would come with a wave of risk-off again and smash ETH price back to $1,000 and possibly see it slip back below $900 for support. Do not even rule out a test at $830.93 at the pivotal historic level already marked up.

Relevance up to 09:00 2022-07-16 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Navin Jain, director of Mastercard Indonesia, said Mastercard will support Fasset's efforts to promote financial integration in the country. Financial services company Mastercard has partnered with crypto gateway provider Fasset to jointly develop digital solutions that can drive adoption in Indonesia. The cooperation is aimed at expanding financial integration in the country and expanding the possibilities of the local economy. In a release, Navin Jain, national director of Mastercard Indonesia, said the collaboration would support Fasset's efforts to foster financial integration in the country. According to Jain, the partnership will help residents gain greater access to digital technology. Hendra Suryakusuma, director of Fasset, said there are 92 million people in Indonesia who do not have a bank account. Fasset and Mastercard will fill this gap, according to Suryakusuma, to ensure better access to digital financial services. Technical Market Outlook: The ETH/USD pair is back inside the channel and the bulls really want to test the supply zone located between the levels of $1,255 - $1,281. The momentum is at the level of 50 points already, so the bulls might soon break back inside the positive territory as well. The intraday technical support is seen on the level of $1,071 and $1,114. The larger time frame trend remains down and as long as the key short-term technical resistance, located at the level of $1,281, is not clearly violated, the outlook remains bearish.     Weekly Pivot Points: WR3 - $1,466 WR2 - $1,412 WR1 - $1,321 Weekly Pivot - $1,181 WS1 - $1,090 WS2 - $950 WS3 - $718 Trading Outlook: The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $1,420 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the levels below $1,000, like the last swing low seen at $880. Please notice, the down trend is being continued for the 12th consecutive week now.   Read more: https://www.instaforex.eu/forex_analysis/284644

Relevance up to 09:00 2022-07-19 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The European Central Bank has expressed concerns about the significant carbon footprint of PoW mining, while pointing to a possible ban on such assets. In an article published earlier this week, bank researchers argued that Bitcoin and Ethereum both have a significant carbon footprint. Reportedly, they consume similar amounts of energy every year as medium-sized countries, including Spain and Austia. Experts also talked about Proof-of-Stake. According to the report, a PoS-based cryptocurrency would require as much energy as a small American town with around 2,100 homes. The article notes that the benefits Bitcoin brings to society is "questionable" while blockchain may have potential benefits. Using analogies, ECB experts described PoW as a cryptographic version of fossil fuel cars and PoS as electric vehicles. Blockchains like Ethereum are already working on the transition from Proof-of-Work to Proof-of-Stake, where the process is expected to be completed by 2023. Meanwhile, ECB experts believe it is "unlikely" that Bitcoin will soon migrate to PoS. Nevertheless, the article states that the transition to renewable energy requires political and social initiatives regarding energy sources and consumption. According to experts, such decisions would favor certain actions and pose a risk to the value of crypto assets. The report also argued that PoW-based crypto assets are inconsistent with environmental, social, and governance (ESG) goals. Therefore, investors need to research whether investing in specific cryptocurrencies is in line with their ESG investment strategy. This is why Tesla has not accepted Bitcoin as payment for goods and services as of May 2021. According to Elon Musk, the company will resume BTC payments when Bitcoin miners start using more than 50% of green energy for their operations. Technical Market Outlook: The ETH/USD pair had broken above the supply zone located between the levels of $1,255 - $1,281 and made a new local high at the level of $1,462 (at the time of writing the article). The momentum is at the level of 65 points already, so the bulls are now controlling the market. The intraday technical support is seen on the level of $1,319 and $1,281. The larger time frame trend remains down, however the recent breakout might be a beginning of a bigger bounce even towards the level of $1,750.     Weekly Pivot Points: WR3 - $1,617 WR2 - $1,509 WR1 - $1,470 Weekly Pivot - $1,401 WS1 - $1,362 WS2 - $1,294 WS3 - $1,185 Trading Outlook: The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $1,420 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the levels below $1,000, like the last swing low seen at $880. Please notice, the down trend is being continued for the 13th consecutive week now.   Read more: https://www.instaforex.eu/forex_analysis/284844

Relevance up to 07:00 2022-07-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Dubai - one of the largest innovation hubs and the host of Expo 2022 is not slowing down in its efforts to become the most open to blockchain country in the world. In a recently published development strategy, Dubai strongly focuses on one of the most popular trends today - the Metaverse. Prince bin Mohammed's roadmap for the coming years aims to set the standard for other countries willing to engage in the development of Web 3.0. Currently, Dubai is home to over 1,000 companies operating in various branches of blockchain technology, which together contribute to the emirate's budget with a significant amount of USD 500 million annually. The ambitious plan assumes that Dubai will achieve three milestones by the end of 2027: 1. Creation of 40,000 new jobs in the blockchain sector, mainly in the development of Metaverse. 2. Increasing the number of companies operating in the crypto sector to at least 5,000. 3. Contribution to the emirate's budget with revenues of $ 4 billion from the cryptocurrency sector. One of the proofs of how seriously Dubai is taking its plans is the announcement of the opening of the world's first Metaverse Hospital. Thanks to the applied 3D and Virtual Reality technologies, patients who are permanently or for a longer period of time in bed will be able to take virtual walks or even participate in sports activities, which is to positively affect the rehabilitation process. According to the assurances of Prince bin Mohammed, Dubai intends to expand its infrastructure and refine its laws and regulations so that investing in this emirate becomes an obvious choice for companies from the blockchain sector. Technical Market Outlook: The ETH/USD pair had paused the rally at the level of $1,631, just ahead of the key short-term technical resistance located at $1,710. The momentum is at the level of 70 points already, so the bulls are now fully controlling the market, however the market conditions are now extremely overbought. The intraday technical support is seen on the level of $1,319 and $1,281. The larger time frame trend remains down, however the recent breakout might be a beginning of a bigger bounce even towards the level of $1,750.     Weekly Pivot Points: WR3 - $1,617 WR2 - $1,509 WR1 - $1,470 Weekly Pivot - $1,401 WS1 - $1,362 WS2 - $1,294 WS3 - $1,185 Trading Outlook: The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $1,420 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the levels below $1,000, like the last swing low seen at $880. Please notice, the down trend is being continued for the 13th consecutive week now.   Read more: https://www.instaforex.eu/forex_analysis/285556

Table of Contents: · What is Ethereum? · What milestones has Ethereum achieved since its 6th anniversary? · What is the Merge? · Why is the Merge important? · What might happen in the future? · Closing thoughts Ethereum ushered in a new era in blockchain technology. Unlike Bitcoin, which serves as a distributed ledger for peer-to-peer transactions, Ethereum features smart contracts. Smart contracts provide the building blocks for decentralized applications (dApps).   Through dApps, the blockchain went from being just a decentralized, immutable, and transparent ledger to becoming a global network that supports a wide range of use cases. For instance, there are dApps for lending and borrowing cryptocurrencies, gaming, and exchanging tokens, to mention a few.   The Ethereum network primarily supports ETH, the second-largest cryptocurrency capitalization. Like Bitcoin, Ethereum currently relies on a Proof-of-Work (PoW) consensus model to verify transactions. To this end, Ethereum miners that validate transactions get mining rewards.   However, the PoW consensus mechanism has, over the years, come under fire for being energy intensive. Environmentalists argue that PoW mining takes a toll on the climate, especially when miners use fossil fuels to power their rigs.   As a result, Ethereum began transitioning to a Proof-of-Stake (PoS) model. PoS relies on a user’s stake instead of power. This feature makes it 99% more effective than PoW. By transitioning to PoS, Ethereum seeks to become more sustainable and eco-friendly.   What Milestones Has Ethereum Achieved Since Its 6th Anniversary? Following Ethereum’s sixth anniversary on July 30, 2021, Ethereum has implemented four upgrades on its journey to becoming a PoS blockchain. These are London, Altair, Arrow Glacier, and Gray Glacier.   London came first on August 5, 2021 on block number 12,965,000. This upgrade introduced EIP-1559, which changed the transaction pricing mechanism to include a fixed per-block fee, which the network burns. This pricing mechanism also expands or contracts block sizes to deal with congestion, thus increasing mining speed.   Altair was the first scheduled upgrade for Ethereum’s Beacon Chain, and it shipped on October 29, 2021. This fork added support for sync communities. It enabled light clients, which helped reduce the overhead needed to determine the head of the chain, thus increasing the network’s decentralization.   Arrow Glacier shipped on December 9, 2021. This upgrade postponed Ethereum’s difficulty bomb for several months, offering developers more time to develop ETH 2.0. The difficulty bomb forces the Ethereum PoW network to stop issuing blocks, making mining disadvantageous for miners and discouraging network users from using the PoW mining when the network switches to PoS.   Gray Glacier shipped on June 30, 2022, and it delayed the difficulty bomb by three months.   In between the upgrades, ETH recorded a significant milestone in its price history. On November 16, ETH set a new all-time high (ATH) of $4,891.   Additionally, the number of unique Ethereum addresses soared from 164.73 million to 201.37 million as of July 21. This denotes an average growth rate of 144.1 million.   What is the Merge? The Merge is the most significant update in Ethereum’s history. This upgrade represents when Ethereum will transition to a PoS network. Following this upgrade, the current Ethereum mainnet will merge with its new PoS consensus layer, dubbed the Beacon Chain.   The Beacon Chain shipped separately from the Ethereum mainnet in December 2020. Since then, it has been running parallel to the mainnet as a different blockchain network. This means the Beacon Chain has not been recording mainnet transactions. Instead, it reaches a consensus by agreeing on active validators and their account balances.   Why is the Merge Important？ When the Merge ships, the Ethereum mainnet and Beacon Chain will become one, marking Ethereum’s transition to a PoS model. The update is expected to ship in Q3 or Q4 2022. Ethereum has carried out extensive testing to ensure the network seamlessly transitions to PoS when the Merge ships.   After the Merge, the Beacon Chain will become Ethereum’s consensus engine. This means the role of generating valid blocks will shift from miners to PoS validators.   It is worth noting that Ethereum’s history will remain intact even after the Beacon Chain becomes the consensus engine. As such, ETH holders don’t need to worry about funds disappearing from their wallets after the network shifts to PoS.   What Might Happen in the Future? After the Merge, Ethereum’s developers plan to continue developing the network until it is powerful enough to help all of humanity. According to Ethereum co-founder Vitalik Buterin, the Merge would only make Ethereum 55% complete.   The network’s future upgrades include, but are not limited to, a four-part fork that developers have dubbed “surge, verge, purge, and splurge.” This upgrade is set to introduce more security and decentralization to Ethereum after it shifts to a PoS model.   Buterin believes the end of Ethereum’s roadmap will result in a more scalable blockchain network. He projects that Ethereum should be able to complete 100,000 transactions per second by the end of its development journey. This will be a massive milestone for the blockchain, which currently processes about 15 transactions per second.   Closing Thoughts By transitioning to PoS, Ethereum will undergo significant changes. While scalability comes as a perk, Ethereum will become less decentralized, meaning the network’s security will also take a hit. However, by embracing careful design choices, Ethereum can minimize the impact of drifting from what it initially set out to become; a decentralized and open blockchain network.   Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe to YouTube Channel>>> Source: Ethereum Celebrates Its Seventh Anniversary And the Coming Merge| KuCoin

Table of Contents: What is a wrapped token? How do wrapped tokens work? Examples of wrapped tokens Wrapped tokens on Ethereum Benefits of using wrapped tokens Deposit, Withdraw & Trade Wrapped Tokens Closing thoughts Decentralized finance (DeFi) is rapidly disrupting the financial sector by offering trustless banking. However, it also faces multiple challenges that hinder its mass adoption. At the moment, one of the most significant obstacles is insufficient liquidity.   For instance, Bitcoin (BTC) has the largest market cap in the crypto market - (around $420 billion). However, its blockchain does not support smart contracts and hence does not support DeFi. On the other hand, the Ethereum blockchain supports the highest number of DeFi protocols. Nonetheless, the market cap of its native token, ETH, currently sits at $186 billion.   With DeFi relying on users to provide liquidity, it is imperative to have cross-chain interoperability, a necessity that has proven a tough nut to crack.   Thus far, efforts to make blockchain networks interoperable have seen developers create wrapped tokens. These tokens can function on different blockchain networks, introducing some aspect of cross-chain interoperability.   What is a Wrapped Token? A wrapped token is a cryptocurrency pegged to another cryptocurrency in a 1:1 ratio. Simply put, the price of the wrapped token always equals that of the underlying coin. To this end, wrapped token holders can redeem them for the original asset at any given time.   The wrapped token and the original token run on different blockchains, with the prior running on blockchains that support DeFi. This feature ensures that wrapped tokens create a bridge between incompatible blockchain networks. Consequently, this interoperability helps introduce more liquidity to DeFi protocols, boosting the utility of cryptocurrencies.   How Do Wrapped Tokens Work? To get wrapped tokens, users can create them by wrapping them on their own or purchasing them from centralized or decentralized crypto exchanges.   Wrapping tokens involves finding merchants for a specific token and transferring the tokens to them. The merchants then transfer the digital assets to a custodian who mints their wrapped versions in a 1:1 ratio and stores the underlying tokens in a digital vault.   After putting their wrapped tokens to use, a user can redeem them by requesting the merchant to send the custodian a burning request for a given amount of the tokens. Finally, the custodian destroys the wrapped tokens and returns the original assets to the user.   The custodian records all minting and burning transactions on-chain for transparency, ensuring that wrapped tokens always maintain their 1:1 peg to the underlying asset.   Examples of Wrapped Tokens The need to bridge the Bitcoin and Ethereum networks saw developers team up to create wrapped Bitcoin (wBTC), an ERC-20 version of BTC. wBTC is the most popular wrapped token and is currently the 18th-largest cryptocurrency by capitalization, with a market cap of over $5 billion. Needless to say, wBTC is the largest wrapped token.   The second largest wrapped token is renBTC, an ERC-20 token, which is part of the Ren Protocol. renBTC has a market cap of over $80 million. renBTC serves the same purpose as wBTC.   Wrapped NXM (wNXM) is the third-largest wrapped token by market capitalization. The token allows users to trade NXM, the native token of the Nexus Mutual platform, outside the protocol.   There are over 20 wrapped tokens in the crypto market, and they have a market cap of $5.31 billion.   Wrapped Tokens on Ethereum An interesting example of a wrapped token on Ethereum is wrapped Ethereum (wETH). Although creating a wrapped version of ETH seems to defy logic, it is worth noting ETH arrived before the network introduced the ERC-20 standard for issuing tokens. As such, ETH is not ERC-20 compliant.   To this end, developers created wrapped Ethereum (wETH) to simplify using ETH in DeFi. With the bulk of DeFi activity being on Ethereum, most dApps require users to swap ETH with ERC-20 tokens, and wETH streamlines this process.   Other wrapped tokens on Ethereum include wBTC, wNXM, wDGLD, and wCRO, among other ERC-20-compliant tokens that run on blockchains other than Ethereum.   Benefits of Using Wrapped Tokens Wrapped tokens increase the utility of cryptocurrencies by expanding the number of blockchains they can run on. As utility increases, the value of crypto networks rises, helping to expedite the maturity of the nascent asset class.   Through wrapped tokens, crypto holders can put their digital assets to use by lending them out through DeFi protocols to earn interest. Crypto holders can also stake the tokens and provide the DeFi sector with liquidity. In return, DeFi protocols offer stakers high yields.   Wrapped tokens also help minimize the transaction costs and times. For instance, using a wrapped version of BTC on a scalable blockchain network would significantly cut costs and ensure faster transaction times.   How to Deposit, Withdraw & Trade Wrapped Tokens Deposit and withdrawal functions are available from exchanges that support the wrapped tokens. For instance, KuCoin supports some wrapped tokens deposit and withdrawal, such as WBTC.   ​​In general, a wrapped token may not have a separate trading pair. For the purpose of consolidating liquidity, centralized exchanges will credit tokens based on different blockchains as its native token, similar to USDT on Tron and Ethereum are both credited as USDT. However, there are exceptions like WBTC, which has separate trading pairs like WBTC/BTC.   Closing Thoughts Wrapped tokens play a significant role in creating bridges between various blockchains. Furthermore, this interoperability helps provide DeFi and the broader crypto space with ample liquidity because networks can easily share the amount of capital locked in them.   Although wrapped tokens currently run on the centralized models, which require users to trust merchants and custodians, the future might present completely trustless options, helping the crypto space put the power back in users’ hands.   Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe to YouTube Channel>>> Source: What Are Wrapped Tokens and How Do They Work?| KuCoin

Strong US jobs data revived the Federal Reserve (Fed) hawks on Friday. The US 10-year yield jumped, and the US dollar gained. Gold gave back a part of gains, and US stocks closed in the negative, although the three major US indices closed the first week of August in the positive. S&P 500   Now, the S&P500 is nearing an important technical level near 4180 level, the peak reached in June, and the short-term direction will mostly depend on this week’s inflation data, due Wednesday. Crude oil kicks off the week slightly upbeat, below the $90 level. News that China started mass testing in the Hainan beach resort comes as a warning that China is still not done with its fight against Covid.    Crude Oil Last week, OPEC increased the production outlook by a laughable, and a completely meaningless 100’000 barrels per day. That’s about 0.1% of the global oil output. But the recession fears and the slowing demand will likely continue driving the market; we could see a further downside pressure on oil prices. On corporate front, Coinbase, Disney, Honda, Coupang, and Rivian will be revealing their latest quarterly earnings. On political front, the US Senate passed a landmark tax, climate and health-care bill, which includes tax credits for EV purchases & green energy incentives. In cryptocurrencies, Ethereum prepares for its final test before the Merge update! Watch the full episode to find out more! 0:00 Intro 0:27 Confusingly strong NFP data 3:23 Why the markets rallied in July? 4:54 Inflation is key for direction 5:55 Crude oil under pressure 7:01 Earnings calendar 7:20 US Senate passes bill to support EV & green energy 8:33 Ethereum’s final test before Merge update Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #US #NFP #Fed #hawks #USD #XAU #Gold #inflation #data #crude #oil #Coinbase #Honda #Coupang #Rivian #earnings #US #climate #bill #Tesla #green #energy #Ethereum #Merge #test #Bitcoin #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH

Relevance up to 09:00 2022-08-09 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Ethereum remains the main conductor of liquidity in the cryptocurrency market. Unlike Bitcoin, Ethereum has been showing a steady upward movement that has been going on for five weeks in a row. At the same time, it is important to note that over the past three weeks, a negative downward trend in buying activity has formed. This is displayed on the body of a bullish candle, which closed at parity between buyers and sellers between August 1 and 7. It is likely that after a period of a long upward movement, the asset will need a correction.     Unlike the situation with BTC, Ethereum's on-chain metrics point to a strong upward trend foundation. The number of unique addresses in the asset network continues to grow, and the fall over the weekend was not significant. This suggests that retail investors are actively participating in trading on the ETH network. This is partly due to the general hype around the coin, but to a greater extent, it is the merit of the fallen commissions in the cryptocurrency network.     The main difference between ETH on-chain metrics and BTC metrics is that the trading activity in the network of the main altcoin remains at a high level. The growing number of unique addresses in the cryptocurrency network is underpinned by a steady increase in intraday trading volumes. Therefore, the upward trend of the ether is more stable and justified. This is exactly what we see on the weekly timeframe, where the price has been continuously rising for five weeks.     Another important signal for the continuation of the upward movement of Ethereum is the completion of the "cup and handle" pattern. The asset managed to break through the $1700 level and thus complete the formation of the pattern. If the current market situation persists, the potential for the upward movement of Ethereum reaches the level of $2800. However, there is a possibility that before the pattern is realized, ETH/USD will go to a local correction.     If you look at the technical indicators of the cryptocurrency on the daily chart, you can see that dangerous borders are being reached. The RSI index ended the previous trading week above the level of 60 and continues its upward movement. The stochastic oscillator reached 80 in the previous week. As of August 8, the metric formed another bullish crossover above 80, which is a sign of overheating of the Ethereum market.     Given the readings of the main metrics, we can conclude that the asset has reached or is approaching the overbought state. This usually happens when the metrics are above 80. However, in the case of Ethereum, it is also important to consider the asset's significantly increased inflation rate due to the influx of users and low transaction fees.     Considering the options for a possible correction in ETH/USD, several targets need to be identified. The first target is located at the level of $1600, and taking into account the minimum amount of time that the asset spent here, this milestone will be broken. The next target is the range of $1400–$1450, and judging by the long period of consolidation, this is where the main stage of the correction will end.     However, it is important to take into account external factors, including the dynamics of the movement of BTC, stock indices, and macroeconomic events. Taking this into account, it is not possible to suggest a probable level of completion of the correction. But there is no doubt that the ether needs a pause to maintain the current trend.   Read more: https://www.instaforex.eu/forex_analysis/318304

Relevance up to 09:00 2022-08-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. With each passing week, Ethereum is getting closer and closer to the key mark of $2000. Despite a certain decrease in buying activity and the realization of most of the bullish potential, Ethereum continues to maintain leadership among the major cryptocurrencies. Over the past 24 hours, the asset has risen in price by 2%, and the weekly increase was 11%. At the same time, the ether approached the lower border of the $1800–$2100 resistance area. The asset will have a serious trade in this range, which will certainly lead to increased volatility and wandering between support and resistance zones.     The main catalyst for the upward movement of the altcoin is the institutional audience, actively fed by the representatives of the project with rosy promises. Ethereum co-founder Vitalik Buterin said that after the transition of the ether to the PoS algorithm, the popularity of crypto payments can grow significantly. The entrepreneur attributes this to the improvement in transaction per second throughput since the final Ethereum upgrade. Buterin is sure that the main altcoin can process more than 100,000 transactions per second. This was big news, which strengthened the position of Ethereum in the eyes of institutional players.     The current position of Bitcoin is also one of the reasons for the increased interest in Ethereum. The main cryptocurrency is stuck near the $24k level and cannot overcome it, also due to low trading volumes. Institutions are also well aware of the dependence of BTC on inflation and stock indices. The combination of these factors makes Bitcoin less attractive to big capital, as the asset does not have the fundamental support for a meaningful bullish rally. The transition to PoS is the very ETH argument that allows the asset to win the competition in terms of attractiveness from Bitcoin at the current stage.     The Ethereum update also provokes far-reaching and positive forecasts from the main representatives of the crypto industry. Former BitMEX CEO Arthur Hayes believes that by the end of the first quarter of 2023, ETH/USD will reach $5000. In addition to switching to PoS, Hayes highlights the Fed's monetary easing as the main benefit of the altcoin. The entrepreneur is confident that after the PoS update, Ethereum will temporarily take the place of Bitcoin in terms of investment attractiveness. Hence, the conclusion that easing monetary policy will have a better effect on ETH, not BTC.     To develop Hayes' idea, it is worth adding two important theses that allow us to argue that Ethereum will go up in the fall. The first factor concerns the US elections in November. The government will probably try to create an appropriate economic climate. The technical recession of the economy due to the hawkish policy of the Fed clearly does not apply here. The second factor is based on Fed Chairman Jerome Powell's statement that the rate will reach a neutral level by the end of 2022. Given these two factors, it is likely that following the final migration of the network and the transition of dApps to PoS algorithms, Ethereum will receive investment fuel from the US government.     In technical terms, the asset took a break after an unsuccessful assault on $1800. The bears defended the level and pushed the buyers to the nearest support at $1750. The RSI index and the stochastic oscillator are becoming flat, which indicates the need for local consolidation. There is also pressure coming from Bitcoin, which failed its $24k assault. The combination of these factors indicates that the next stage of strong growth will begin after the publication of the CPI report. Until then, the asset is likely to continue consolidating.   Read more: https://www.instaforex.eu/forex_analysis/318420

Relevance up to 09:00 2022-08-12 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. As expected, Ethereum became the primary beneficiary of fundamental positive news. The cryptocurrency took advantage of the general euphoria and rose by 12% over the past day. The weekly increase in ETH/USD quotes reached 15.5%. The main altcoin finally consolidated above the $1800 level and rapidly jumped to the $1900 mark. It is likely that if the current bullish momentum continues, ETH will be able to reach the $2000 level for the first time since May 2022.     Ethereum continues its upward movement, taking advantage of positive inflation statistics, which fell below expectations to 8.5%. A gradual decrease in inflation in annual terms indicates the likelihood of curtailing aggressive monetary policy as early as autumn 2022. It is a positive signal for the cryptocurrency market since, after tightening, a pullback to neutral positions will begin. This process will facilitate access to liquidity and, accordingly, will help the birth of a bullish rally. However, in most cases, the main benefit from monetary easing is given to Bitcoin.     In the current market situation, everything has changed dramatically. Bitcoin is fading into the background, and Ethereum is becoming the main driving force behind the cryptocurrency market. The main altcoin has been the main investment target of large funds over the past months. This is due to the transition of the coin to the PoS algorithm and the positive changes that will follow. In other words, Ethereum has fundamental growth reasons that provide continued investment interest. Bitcoin cannot boast of this, and therefore grows exclusively on positive fundamental news.     The growing interest in Ethereum can be seen in the level of Bitcoin dominance in the market. The indicator is in a downward trend, indicating the interest of investors in other digital coins. The indicator began to seriously decline at the end of July and peaked in August. During this period, the informational hype around the transition of Ethereum to PoS reached its maximum. Over the same period, the level of ETH dominance has grown significantly and, as of August 11, reached 20.24%. This is direct evidence of the flow of investments from BTC to ETH.     It also indirectly indicates that the main altcoin will become the primary investment target of the market in the coming weeks. Ethereum received macroeconomic positives in addition to the upcoming update, which will also affect the bullish movement of the cryptocurrency price. The largest issuers of stablecoins, Tether and Circle, have declared full support for the transition of ETH to the Proof-of-Stake protocol. There are also several testnet mergers planned for August, including the successful migration of Goerli to PoS, which should reinforce the fundamental positive for ETH.     In technical terms, the asset has again reached the overbought level. The stochastic oscillator formed and realized a bullish crossover, due to which the indicator reached the level of 100. The relative strength index came close to 80 and maintains an upward direction, which indicates an increase in buying activity. Ethereum entered a strong resistance area for the first time, and you should not expect its bullish breakdown on the first try. Most likely, we are waiting for a local correction and a short period of consolidation before a full-fledged assault on $2000.   Read more: https://www.instaforex.eu/forex_analysis/318679

Yesterday, the US inflation report was released, which came in at 8.5% in July. The market did not expect such a large drop, estimating a level of 8.7% before the data was released. The stock markets reacted positively, and the major equity indexes rose significantly. The S&P 500 gained more than 2.1% during yesterday's session and the Nasdaq almost 2.9%. Bitcoin And Ethereum Cryptocurrencies, however, reacted most noticeably - on the Conotoxia MT5 platform, Bitcoin gained around 3.3% yesterday. And today, it continues its rise, breaking through the local peak of $2,485 on 30 August 2022. At 11.30 am GMT+3, the price of BTC is $24,471. The ETH price has risen even more strongly after a surprisingly low inflation reading. Ethereum gained more than 8.5% yesterday, and at 11.30 GMT+3, it is already up more than 2.3%. The token already costs $1,887 - its highest recorded level since 6 June this year. Reaction The market's reaction has a lot to do with expectations of interest rate hikes, which fell after the US inflation reading. However, it is still a long way from calling it a permanent decline. Inflation is still at its highest level in decades and the economy is operating in an environment of negative real interest rates. According to CME Group data, the Federal Reserve (Fed) is likely to push rates even higher. Currently, the Fed Funds Rate is at just 2.5 pp, the level before the Covid pandemic. The CME Group estimates that we will still reach the 3.25 pp level this year, and peak in 2023 at 3.5 pp. However, as for the 2023 projections. The Federal Open Market Committee (FOMC), which decides them, is already much less unanimous and a lot may still depend on the information coming out of the economy. US Economy - Most metrics - such as the yield curve, consumer sentiment, and economic growth - point to a recession Information on its state in the US is not pleasing. Most metrics - such as the yield curve, consumer sentiment, and economic growth - point to a recession. The labour market, which is surprisingly strong at the moment, is reacting last and is likely to become further evidence of a crisis soon. The cryptocurrency market has never been in such a severe recession, so it is hard to determine exactly how it will behave. For now, the data shows a relatively high level of correlation between it and the stock market. This is not good news, as the latter almost always loses in a crash. Polygon (MATIC) Polygon (MATIC) is an Ethereum token that powers the Polygon network, which is a protocol for building Ethereum-compatible blockchains and decentralised applications (DApps). Polygon is also referred to as a 2nd level (2nd level) solution to help Ethereum to scale faster, by increasing the efficiency of the network. On Wednesday, Polygon shared data on user growth. Their total number in July was 11,800, gaining 47.5% since March and up 400% year-to-date. Interestingly, according to the project, "74% of teams integrated exclusively on Polygon, while 26% deployed on both Polygon and Ethereum,". This shows a very high level of confidence in the new technology, which can be the new foundation for the development of DApps. Since the local low on 19 July this year. MATIC has risen almost 172%. Trading on CFDs is provided by Conotoxia Ltd. (CySEC no. 336/17). CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Relevance up to 10:00 2022-08-13 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Ethereum is getting closer to the key resistance level of $2,000 every day. It is important to reach this psychological level during the ongoing uptrend. Institutional investors add fuel to the growth. Their inflow has increased significantly amid the transition of ETH to the Proof-of-Stake algorithm and the recent news.     The ETH/USD pair has fixed above $1,800 and formed a strong support area near that level. After forming the bullish engulfing pattern on August 10, the asset dashed to the level of $1,950 but rolled back because of the bearish activity. As a result, bulls were forced to retreat and the candlestick acquired a long upper shadow. Nevertheless, ETH is holding above $1,850, and as long as this level is not broken through, the asset may reach the area of $1,900-$2,000.     Eventually, ETH formed a bullish large-scale cup-and-handle pattern. This pattern may drag the price to the area of $2,700-$2,800. Taking into account the presence of the fundamental positive background and the successful mergers of the test ether networks, it is likely that the cup and handle pattern will be worked out by the middle of September. With this in mind, we can conclude that it is Ethereum that will be the main driving force of the crypto market during the next few months.     As for the technical picture, the asset started a consolidation after failing to touch the area of $1,950-$2,000. The RSI is moving near 70, indicating high buying activity. However, after testing 70, the metric has flattened. The stochastic oscillator managed to break through the level of 70 and enter the overbought zone. This means the asset is overbought and this state will increase with the positive sentiment in the market. The MACD indicator has gained an upward direction after a long flat period. As a whole, from the technical point of view, ether demonstrates the demand but prepares for a correction.     Most likely, this is where the market will face the first full-fledged correction due to the long upward movement. On the weekly chart, the ETH/USD pair is likely to close the sixth bullish week. If we compare it to the cryptocurrency's recent uptrends, we see that for the most part, the altcoin goes for a correction after forming six or seven green candlesticks in a row. Ethereum is close to the sixth one and we are likely to see a correction already next week.     Dependence on Bitcoin may hamper the cryptocurrency's uptrend. In recent months, the level of BTC dominance was falling, while ETH, on the contrary, was growing. Mostly, it was due to the Fed policy and the presence of fundamental reasons for the growth of ether. It is likely that soon the situation will change since the rate of inflation began to fall.     Investments in BTC will gradually begin to increase, which will be a deterrent to the growth of ETH. Among the latest news related to these processes is the announcement of the BlackRock Capital fund. The largest $10 trillion asset management company has launched a new BTC fund for its clients. In the medium to long term, this bodes well for a significant increase in institutional investments in Bitcoin.     All of these factors can negatively contribute to the future growth of Ethereum, but they have no fundamental effect. With this in mind, Ethereum is very likely to remain the main cryptocurrency in the coming months. However, in the short term, we should expect a correction, which the altcoin needs after a prolonged six-week rally.   Read more: https://www.instaforex.eu/forex_analysis/318802

How will the upcoming Ethereum Merge affect linked tokens?  After long years of preparation, Ethereum will soon become a token operating fully on the Proof-of-stake (PoS) blockchain. So far, no delays are expected for the Merge, which is scheduled for 19 September. In addition to ETH, many other tokens are gaining in utility and price through the upcoming transition, which will enable them to be more widely and quickly adopted. Ethereum's plan is to replace ETH miners with validators, a kind of 'node' of the proof-of-stake system. They will be responsible for storing data, processing transactions and adding more chain blocks. Each validator is expected to hold a min. 32 ETH - at the current price, this is approximately $60600. Lido Dao  An important part of this network is to be the Lido DAO, which is the main project offering staking services within Merge. So far, Lido has funded ETH 2.0 with approximately 4.15 million ETH. Since the local bottom on 18 June 2022. LDO has gained almost 530%.    Source: Glassnode Accounting for almost half of the staking on ETH, the Lido is an important part of the chain with great growth potential if the trend in this service adoption continues. However, currently after surging 500%, the price may be too high and a great deal of caution is advised for bulls.  Ethereum Classic (ETC) Despite the transformation, Ethereum Classic (ETC) is still an important part of the crypto scene. The token was created as a result of a split of the Ethereum blockchain in 2016 and has most of the functionality of the current ETH, but is slower in handling transfers and less flexible in creating DApps. However, it still plays a significant role and is considered by traditionalists to be a combination of the best features of Bitcoin and ETH.  The token through its reliance on mining provides a natural refuge for miners who will be excluded by the Ethereum blockchain change. This is probably why it has gained more than 215% in recent weeks since its local low on 14 July.  The influx of miners is bound to have an impact on the increased supply of ETC in the short to medium term, which typically drives the price down. However, with a maximum of 210.7 million coins to be mined, ETC is deflationary in nature, and the market seems to be pricing that increased mining will translate into a faster increase in the token's price due to limited future supply. ETC, like BTC, mainly has been used as a store of value. Merge will have an impact on the entire crypto world. It surpasses the ETH split of 2016 by its scale and points to new areas such as proof-of-stake, energy efficiency and lower commissions. The transformation in addition to the above-mentioned LDO, ETC affects most ETH-related projects giving some new significance.   

Summary:  The last test of the highly anticipated Ethereum merge was a success. The real merge has now been scheduled for either the 15th or 16th of September. Whereas the latter was a success, Coinbase’s Q2 result was arguably not a success compared to the market’s consensus. The Ethereum merge has been scheduled following the final test On Thursday, the final public test of the highly anticipated Ethereum merge occurred successfully as the test network known as Görli successfully adopted a proof-of-stake framework. One day later, the developers of Ethereum announced that the real merge is likely to take place on either the 15th or 16th of September next month. This is in line with what we estimated earlier this month, assigning a 95% chance of a merge in September in case Görli occurred flawlessly, as it did. This means that one of the most significant events in the history of crypto is only around a month away. It seems that traders are likewise anticipating the merge. Ethereum hit a local high against Bitcoin since January of 0.0816 (ETHBTC) this weekend alongside hitting a new 3-month high in dollar terms of over $2,000. This is rather remarkable because Ethereum has previously decreased against Bitcoin during bear markets with Bitcoin behaving somewhat as a safe haven within the highly speculative crypto market. At present, the pair trades at 0.0793. Coinbase releases Q2 2022 result On Tuesday, the largest US-based crypto exchange NASDAQ-listed Coinbase reported its second quarter result. The result was, however, not encouraging for shareholders. The company’s revenue declined by nearly 64% compared to the same quarter last year, while the company noted a loss accurately exceeding $1bn. Yet, $377mn of that was caused by depreciating its crypto holdings, with the latter taking a severe hit during the quarter. Coinbase laid off around 18% of its workforce in Q2 while enforcing a hiring freeze. The major issue for Coinbase in Q2 and not least going forward is the fact that its retail trading has decreased substantially, although its volume from institutional clients is fairly more stable. The challenge with the latter is that Coinbase earns significantly less on institutional rather than retail trading. As a consequence, institutional clients’ volume is over three times as much but pays overall 15 times less in trading fees than retail clients. So, unless retail trading surges, the fundamental of Coinbase is likely not improving. Making matters worse, Coinbase is encountering further competition on retail trading from, for instance, Robinhood, potentially over time pushing Coinbase’s high margins on retail trading down. Source: Coinbase Global, Inc. Source: Coinbase Global, Inc. Alongside 21 other companies, Coinbase is a part of our Crypto & Blockchain equity basket for investors wanting to get exposure to the crypto market through crypto-related companies (the basket should not be considered as a trade recommendation, only as an inspirational list). Bitcoin/USD - Source: Saxo Group Ethereum/USD - Source: Saxo Group Source: Crypto Weekly: Ethereum, it is time to merge

Relevance up to 08:00 2022-08-17 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: On August 11, 2022, Ethereum developers notified the community during the Consensus Layer Call live stream that the Merge update is likely to occur between September 15-16. The next day, Ethereum co-founder Vitalik Buterin confirmed that The Merge is likely to take place on September 15th. Since then, everyone has been asking where the current Ethereum hashrate will go after the update goes live. There has always been a lot of speculation that most of the ETH hashrates will be redirected to Ethereum Classic (ETC), however this is not the only opinion. There was one significant drop in ETH network hashrate that started on June 6. Statistics show that on that day 1.23 petahashas per second (PH /s) or 1,230 terahashas per second (TH /s) was dedicated to the Ethereum network. The data shows that around 230 TH /s have left the network, but none of the chains supporting Ethash have recorded hashrate accumulation on such a scale. Technical Market Outlook: The ETH/USD pair has hit the level of $1,990, which is the 100% Fibonacci extension of the wave A. The local high was made at the level of $2,029, nevertheless the upside is limited due to the key technical resistance located at the level of $2,040. The momentum had violated the level of fifty already and it points to the south indicating a strong bearish activity. The nearest technical resistance is seen at $1,915 and must be clearly violated in order to continue the up move. The key short-term technical support is located lower, between the levels of $1,785 - $1,756.     Weekly Pivot Points: WR3 - $2,132 WR2 - $2,042 WR1 - $1,986 Weekly Pivot - $1,953 WS1 - $1,897 WS2 - $1,864 WS3 - $1,775 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next key psychological level for bulls is located at $2,000 and needs to be clearly violated before any extension higher.   Read more: https://www.instaforex.eu/forex_analysis/288599

ETH options open interest at a high as traders pile on leveraged bets. Asset managers’ net-long position in CME BTC futures climbing. ETH enters short-term overbought territory Chart of the Week: In the Mood for Leveraged Bets ETH options open interest has reached a new high at around US$8B. Options are a leveraged play on ETH and traders are likely piling up the bets in anticipation of the mainnet merge in September. Last week, the final testnet merge, Goerli, was successfully completed, giving traders an extra confidence boost.     Fund Flow Tracker No significant movements in aggregated exchange balances for both BTC and ETH over the past week.         Derivatives Pulse Implied vols and skews (puts minus calls) are subdued. 1-week implied vol currently stands at 58.7% (vs. 63.1% a week ago) and 84.8% (vs. 91.9% a week ago) for BTC and ETH, respectively. Put-call ratios remain at low levels.                     Perpetual futures funding rates remain mainly in positive territory for both BTC and ETH over the past week.         Asset managers’ net-long position in CME Bitcoin futures continues to crawl up, and leveraged traders’ net-short position keeps on reducing. Other reportables’ (which includes corporate treasuries) net-long position has flipped to net-short.     Leveraged traders are typically hedge funds and various types of money managers, including commodity trading advisors and commodity pool operators. The traders may be engaged in managing and conducting proprietary futures trading, and trading on behalf of speculative clients. The asset manager category consists of institutional investors, including pension funds, endowments, insurance companies, mutual funds, and those portfolio/investment managers whose clients are predominantly institutional. The dealer category consists of participants typically described as the “sell-side” of the market. These include large banks and dealers in securities, swaps, and other derivatives. The other reportable category consists of traders mostly using markets to hedge business risk, and includes amongst others corporate treasuries. Technically Speaking BTC and ETH both have momentum in their sails, reclaiming key levels US$24K and US$2K, respectively. However, the surge has driven ETH into short-term overbought territory based on the 14-day Relative Strength Indicator (RSI), with BTC closing in as well.     Price Movements         News Highlights Ethereum’s final testnet merge on Goerli was launched. Crypto.com obtains Electronic Financial Transactions Act and Virtual Asset Service Provider registration in South Korea by acquiring PnLink Co., Ltd and OK-BIT Co., Ltd. Coinbase’s credit rating gets cut by S&P to BB from BB+. BlackRock launches a spot Bitcoin private trust for U.S. institutional clients. Catalyst Calendar             Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters    Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO CRYPTO RESEARCH CRYPTOCURRENCIES MARKET PULSE MARKET UPDATES

Market picture Bitcoin is losing 3.7% in the past 24 hours, falling to $23.9K%. Ethereum is down 5.2% to $1870. Other top altcoins are down 2% (BNB) to 6.4% (Solana). Total capitalisation of the crypto market The total capitalisation of the crypto market, according to CoinMarketCap, fell 3.6% to $1.14 trillion overnight. Bitcoin on Monday failed to claw its way above $25K, after which short-term buyers rushed to lock in profits and returned the price to the $24K area. The pressure on BTC was exerted by the rising US dollar amid weak data from China, indicating a slowdown in the economy. However, so far, Bitcoin's decline is more appropriately seen as a corrective pullback within an uptrend. It would only be appropriate to discuss a break in this trend if it moves below $22.5K-23.0K. Sluggish and uncertain growth at the first stages is typical after a strong sell-off that prevailed since last October. News background Notably, the positive dynamics of the crypto market last week coincided with a net $17 million outflow, the first net withdrawal in seven weeks, of which $21 million came from investments in BTC. At the same time, investments in bitcoin short funds increased by $2.6 million. The Wall Street Journal reports that US pension funds remain optimistic about investing in cryptocurrencies, despite a significant pullback in prices and a wave of defaults by crypto companies. Raul Pal -- Real Vision CEO -- believes that Ethereum remains highly attractive for investors, and interest in it will grow even more after the move to PoS. Michael Saylor: BTC is not suitable for everyone, "you should invest for at least four years. Ideally, it's an intergenerational transfer of wealth." Michael Saylor, former head of MicroStrategy, called the company's decision to buy bitcoin a good one. He said, BTC is not suitable for everyone, "you should invest for at least four years. Ideally, it's an intergenerational transfer of wealth."

Acala Network suffered security breach, aUSD depegged. Curve Finance’s website hacked. Crypto users were hit with “dust attack” after being sent a small amount of ETH from Tornado Cash. Weekly DeFi Index This week’s price index dropped by -7.26%, while volume and volatility indices were positive at +11.26% and +3.16%, respectively.     DeFi Index Tokens     News Highlight Acala, the “DeFi hub” of the Polkadot network, suffered a major security breach. The exploit allowed the attackers to mint an additional 1.2 billion aUSD, the native stablecoin of the network, in its iBTC/aUSD liquidity pool. Following the exploit, aUSD depegged and plunged to a low of US$0.009 on 14 August. In response to the incident, Acala passed a proposal to burn US$1.28 billion aUSD to regain the peg. At the time of writing, aUSD is trading around US$0.88.  Decentralised exchange Curve Finance experienced a frontend attack on 10 August. Hackers compromised the Curve website to redirect unwitting users or their transactions to a malicious destination. The thieves made off with US$570,000 of ETH and part of the stolen funds were frozen. DeFi protocols banned users following OFAC sanctions on Tornado Cash. However, this derives a so-called ‘dust attack’. Crypto users reported being blocked by major DeFi protocols after attackers sent a small amount of Ether (usually 0.01 ETH) via Tornado Cash. More than 600 addresses were hit with the same 0.01 ETH ($19.25) ‘dust attack’, including crypto exchanges and public figures. Ethereum’s third and final testnet merge was completed on Goerli. This is one step closer to Ethereum’s mainnet upgrade, which is expected to happen this year. DEX Protocols Metrics     Lending Protocols Metrics     Charts on Layer 2 Projects Overall, the L2 market saw +6.99% growth over the past week. Optimistic rollup projects rose +4.15% and zero-knowledge rollup projects dropped -4.61%. Sidechain projects gained traction with +18.02% growth, mainly driven by Polygon (+20.50%). Ethereum’s TVL rose +1.17%.     The TVL for almost all of optimistic rollup’s projects were negative last week except Arbitrum (+7.75%) and Optimism (+0.04%).     Although the overall TVL of ZK rollups fell, StarkNet was under the spotlight as its TVL grew +14.07%.     Further Reading Arbitrum launches gaming and social App-focused layer 2 chain Arbitrum Nova DeFi protocols Aave, Uniswap, Balancer, ban users following OFAC sanctions on Tornado Cash Tornado Cash DAO shuts down as it “can’t fight the US” and keep contributors safe BlueBenx fires employees, halts funds withdrawal citing $32M hack Interlay launches Bitcoin-backed stablecoin iBTC on Polkadot network DeFi firms Iron Bank, Yearn Finance join layer 2 protocol Optimism Cross-chain bridge RenBridge laundered $540M in hacking proceeds: Elliptic Authors Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters    Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES DEFI L1 & L2 Source: DeFi & L1L2 (Week 32, 10/08/2022 – 16/08/2022) (crypto.com)

TL;DR   Livepeer is a decentralized video protocol built on the Ethereum blockchain. It was designed for anyone to seamlessly integrate video content into applications in a decentralized manner and at a fraction of the cost of traditional solutions. Decentralization of video processing is accomplished by distributing the transcoding process to a network of node operators. Transcoding is an essential step in ensuring smooth delivery of video content to end users. It involves taking raw video files and converting them to the optimal state for each end user, based on factors such as device screen size or internet connection. Livepeer processes video content reliably and inexpensively using blockchain technology that utilizes game theory, cryptoeconomic incentives, and smart contracts to foster positive stakeholder interactions. Its native asset, the Livepeer token (LPT), is used to coordinate and distribute video processing tasks among network participants securely and reliably.    Introduction   With the increasing reliance on social media, especially amid the recent pandemic, as well as the massive growth of the creator economy, video-related content used more than 82% of the internet’s bandwidth in 2021.  The Livepeer network, powered by thousands of distributed nodes, gives video app developers and creators access to a secure, high-quality, affordable encoding architecture without a hefty price tag. Since its inception in 2017, the Livepeer network has processed over 150 million minutes of video.   How does Livepeer work?   Livepeer, built on Ethereum, is essentially a network that connects anyone seeking video processing with suppliers that provide this service. It uses its native token, LPT, to incentivize network participants to keep this video transcoding process reliable, secure, and affordable compared to current centralized solutions. There are two main stakeholders in the Livepeer network: orchestrators and delegators.  Orchestrators Anyone who owns video mining equipment can stake their LPT and perform video processing work on the Livepeer network. In exchange for providing this service, they receive a share of the video processing fee in the form of LPT and ETH. These network participants are called orchestrators.  Delegators Those who don’t have access to video mining tools or video processing experience can still participate in the network by delegating or assigning their LPT to a node operator with the right tools and expertise to process video via the Livepeer Explorer. These network participants are called delegators.   What is LPT? The network’s native asset, the Livepeer token (LPT), is an ERC-20 token used to provide security, distribute video processing tasks among network participants, and incentivize their active participation in the various roles on the Livepeer network. The more LPT tokens are committed to the network’s functioning, the more stable, secure, and robust it becomes.   Orchestrators are allocated work according to the amount of LPT they have staked — their own or those of delegators — along with their geographical location and reliability. Since more delegated tokens lead to more work, and more work equals more rewards, orchestrators compete to attract as many delegators as possible. At the end of each round, i.e. end of every day, the Livepeer protocol mints new Livepeer tokens according to a designated inflation rate. Livepeer is a “stake-based” protocol, which means rewards are allocated to each participating user in proportion to their contribution. Participants who have been active in a given round — either by running nodes or by staking tokens — receive a proportionate amount of the issued reward. Those who did not actively participate in a given round do not receive these rewards.  Orchestrators also earn an added benefit: they receive a portion of their delegators’ rewards as a commission for running the decentralized infrastructure.  With this system, active participants can grow their stake in the network. Meanwhile, transcoding rights of inactive users shrink with every round in which they do not participate. In other words, a larger LPT stake results in more allocated work, ultimately leading to more rewards.  The inflation rate used to determine the size of the issued rewards also motivates users to be active. The percentage of new LPT in each compensation round is determined by how many total LPT are committed to the network’s successful functioning. The higher this proportion, the lower the inflation rate and the more value existing tokens will retain. Thus, token holders are naturally motivated to stake more to earn more.   How to buy LPT on Binance?   You can buy LPT on cryptocurrency exchanges like Binance.  1. Log in to your Binance account and go to [Trade] -> [Spot].  2. Type “LPT” on the search bar to see the available trading pairs. We will use LPT/BUSD as an example. 3. Go to the [Spot] box and enter the amount of LPT you want to buy. In this example, we will use a Market order. Click [Buy LPT] to confirm your order, and the purchased LPT will be credited to your Spot Wallet. Closing thoughts Livepeer has designed a solution to delegate video processing tasks to reliable parties. With a  decentralized video protocol, Web3 projects and companies can avoid high, arbitrary video processing fees and censorship to provide better video content for their audiences.   Source: What Is Livepeer (LPT)?

Relevance up to 10:00 2022-08-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The ICO Ethereum whale address carries 145,000 ETH to various accounts in the weeks before Merge Such a large number of ETH carried over just a month before the merge sparked the curiosity of the crypto community. Some say it is for selling, while others say it is for betting. The Ethereum whale wallet, which participated in the initial coin offering (ICO) and acquired 150,000 Etherum (ETH) in 2014, was reactivated on August 14 after three years of sleep. From its address, the whale shifted 145,000 ETH to multiple wallets as Etherum's price soared to a new three-month high of over $ 2,000. The transfers were made in batches of 5,000 ETH, with several transfers of over 10,000 ETH. The total value of Etherum transferred is over $ 280 million and the wallet address currently has a balance of 0.107 ETH. Technical Market Outlook: The ETH/USD pair has hit the level of $1,990, which is the 100% Fibonacci extension of the wave A and a perfect target for the wave C of the overall ABC corrective cycle. The local high was made at the level of $2,029, nevertheless the upside is limited due to the key technical resistance located at the level of $2,040. The momentum had violated the level of fifty already and it points to the south indicating a strong bearish activity. The nearest technical resistance is seen at $1,915 and must be clearly violated in order to continue the up move. The key short-term technical support is located lower, between the levels of $1,785 - $1,756.     Weekly Pivot Points: WR3 - $2,132 WR2 - $2,042 WR1 - $1,986 Weekly Pivot - $1,953 WS1 - $1,897 WS2 - $1,864 WS3 - $1,775 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next key psychological level for bulls is located at $2,000 and needs to be clearly violated before any extension higher.   Read more: https://www.instaforex.eu/forex_analysis/288843

Relevance up to 10:00 2022-08-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Ethereum ended its upward spurt, failing to retest $2,000. As a result, the price began to decline and hit a support area near the level of $1,900. At the same time, the overall situation in the market remains tense due to low liquidity and trading activity. On top of that, there were alarming rumors about ETH's transition to the PoS and the US sanctions policy. These factors, as well as altcoin's dependence on Bitcoin, give rise to opinions that ether is about to start a correction.     From the technical point of view, the asset remains bullish and is likely to make another attempt to break through $2,000. The RSI resumed upward movement after a brief consolidation. The stochastic oscillator is also preparing to form a bullish crossover. Technical metrics indicate that buying activity remains high, and fundamental reasons for growth are pulling the price upwards. At the same time, the MACD continues to move flat, which indicates that there are no significant bullish signals in the long term.     Another important problem with Ethereum's technical metrics is their positioning. The stochastic oscillator is moving near 75 and the relative strength index is at 65. These are bullish signals, indicating continued buying sentiment. However, the indicators have been above 60 since July 25, and the metrics have moved into the overbought territory several times during that period. This is normal for an asset that is one step away from an important update but it also indicates that it is overheated. Recent evidence of record ETH inflation due to low online fees confirms that the market is overheated.     If we evaluate the main onchain metrics reflecting the number of active addresses and the volume of daily trading, we can conclude that there are no clear signs of positive factors. We see a correlation between the growth of the number of addresses and trading volumes, but the co-dependence manifests itself impulsively rather than consistently. This is also a normal situation for an asset that is one step away from an important merge. Fundamentally, it suggests that interest in ether, though high, is not consistent. This increases volatility, reduces institutional interest, and negatively affects the formation of a long-term trend.     In addition, more than 66% of ETH validators on PoS are going to comply with US sanctions and block illegal transactions. There would be no problem if the majority of validators supported this initiative, but we see more than 35% are disagreeing with this policy. As a result, Ethereum's move to PoS could create a conflict with far-reaching consequences. There is no doubt that the situation will be closely monitored by institutional investors, for whom validation and transaction security issues are paramount.     Overall, the PoS update will be revolutionary and will greatly strengthen Ethereum's position in the market. Ethereum issuance will drop from approximately 13,000 coins per day to 2,000-3,000. In this respect, the asset will approach Bitcoin in terms of its capabilities and attractiveness. The merger is exactly one month away, and the altcoin needs a recovery correction to conduct a consolidation period before the main Merge update starts. At this stage, the ether retains bullish potential, high but erratic investor interest, and is preparing for another $2,000 retest.   Read more: https://www.instaforex.eu/forex_analysis/319150

Relevance up to 10:00 2022-08-19 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The Ethereum Foundation wants the public and ETH investors to be aware that The Merge is a transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS), not a reduction in gas charges: "The gas charges are the product of the network's demand [for services] in relation to its capacity," the organization said. The foundation explains that it is about changing the algorithm to PoS, which, however, "does not significantly change any parameters that directly affect the network capacity." While the transaction fees on the Ethereum network will not change after The Merge, users who want a lower fee for transfers will be able to take advantage of Tier 2 scaling solutions or wait for further updates in the Ethereum chain. After The Merge, the Ethereum Foundation will roll out The Surge, The Verge, The Purge and finally The Splurge. And it is the latter that aims to improve scaling with sharding technology. Technical Market Outlook: The ETH/USD pair has fell out of the channel around the level of $1,880 and is testing the technical support located at $1,819. The momentum had violated the level of fifty already and it points to the south indicating a strong bearish activity. The nearest technical resistance is seen at $1,915 and must be clearly violated in order to continue the up move. The key short-term technical support is located lower, between the levels of $1,785 - $1,756.     Weekly Pivot Points: WR3 - $2,132 WR2 - $2,042 WR1 - $1,986 Weekly Pivot - $1,953 WS1 - $1,897 WS2 - $1,864 WS3 - $1,775 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next key psychological level for bulls is located at $2,000 and needs to be clearly violated before any extension higher.   Read more: https://www.instaforex.eu/forex_analysis/289046

Relevance up to 11:00 2022-08-19 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. ETH/USD has changed little in the short term only because BTC/USD seems undecided. Ethereum turned to the downside after failing to confirm a larger swing higher. Technically, the price action signaled a larger drop in the upcoming period. In the last 24 hours, ETH/USD has gone down by 2.59% and by 2.09% in the last 7 days. Ethereum tried to rebound but the immediate upside obstacles stopped the rally. BTC/USD's deeper drop should push ETH/USD towards new lows. ETH/USD Downwards Movement Underway     The price dropped below the uptrend line, signaling that the leg higher ended and that sellers could take the lead. It has tried to come back above the broken uptrend line but it failed to stabilize above it showing strong downside pressure. It has retested the 1,858 static resistance and now it could approach and reach 1,820 again which represents critical support. ETH/USD Outlook Dropping, closing, and stabilizing below 1,820 could activate more declines and could bring new short opportunities.   Read more: https://www.instaforex.eu/forex_analysis/289061

Market picture Bitcoin was almost flat on Thursday but started Friday with a 6% plunge, momentarily dropping to $21.5K. Ethereum is losing 4.5% overnight to $1760. Leading altcoins are down 7% (XRP) to 12% (Solana). Total crypto market capitalisation is down 4.2% to $1.07 trillion, according to CoinMarketCap. Bitcoin's fall below $22.5K is a formal break of the upward corridor of the past two months, as a sequence of increasingly higher local lows is broken. Currently, BTCUSD is testing the 50-day moving average, which could act as an uptrend indicator. The current dip has made the fight for the 200-week average, which is now near $23K, relevant again. Closing the week below this level risks triggering another round of liquidation. Altcoins are losing even more significantly, reflecting a dramatic shift in enthusiast sentiment from cautious buying to simultaneously locking in quick profits across a wide range of coins. Additionally, the weakening of global equity indices and the deteriorating macroeconomic backdrop is worrying factor. At the same time, the crypto market is no longer oversold but not yet attractive to long-term investors. We believe we will see similar sharp market movements again in the coming months. News background Arthur Hayes, former head of crypto exchange BitMEX, talked about two scenarios after Ethereum moves to the Proof-of-Stake (PoS) mining algorithm. If the fork is unsuccessful, ETH could fall sharply but hold above $800. If the merger is successful, an ETH rally should be expected, although it may be delayed, as in the case of bitcoin halving. Korean authorities are investigating 16 crypto exchanges that are accused of breaking local laws and providing digital asset trading services to Korean citizens. Tether, the issuer of the largest USDT stablecoin by capitalisation, has announced a partnership with accounting firm BDO Italia. Tether plans to move from reporting quarterly financial results to monthly reporting.

Relevance up to 08:00 2022-08-20 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The well-known Australian gas station brand On The Run (OTR) has today launched a cryptocurrency payment service at its 175 points. They are located in Victoria, South Australia and Western Australia. This is a consequence of establishing cooperation between the OTR company and the Singapore cryptocurrency exchange and DataMesh - the national provider of payment systems. The stock exchange is responsible for providing the Pay Merchant service as a payment settlement layer, and Datamesh supplies the points of sale with terminals. The next steps that OTR's parent company, Peregrine Corp, intends to take are the introduction of cryptocurrency payments at another 250 retail outlets in Australia. We are talking about places such as Subway, Oporto and Krispy Kreme. Mohan also announced that Crypto.com does not charge additional fees for transactions carried out in this situation. However, a top-down fee will be charged on the part of the seller who will set the rates for the products and services himself. It looks like the transaction costs will be equal to the cost of paying with a fiat card. Technical Market Outlook: The ETH/USD pair has fell out of the channel around the level of $1,880 and is broke below the technical support located at $1,819. At the time of writing the analysis, the new local low was made at the level of $1,805. The momentum had violated the level of fifty already and it points to the south indicating a strong bearish activity. The nearest technical resistance is seen at $1,915 and must be clearly violated in order to continue the up move. The key short-term technical support is located lower, between the levels of $1,785 - $1,756.     Weekly Pivot Points: WR3 - $2,132 WR2 - $2,042 WR1 - $1,986 Weekly Pivot - $1,953 WS1 - $1,897 WS2 - $1,864 WS3 - $1,775 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next key psychological level for bulls is located at $2,000 and needs to be clearly violated before any extension higher.   Read more: https://www.instaforex.eu/forex_analysis/289174

Since the beginning of July, the crypto market seemed to be on the rise. The largest tokens (BTC and ETH) at the local peak, gained around 35% and 101% respectively. However, today at 11:30 GMT+3 BTC is losing around 7.3% and ETH around 8%. Today, ETH broke through its price channel and the 20-day moving average. If the price does not return to the channel in the next couple of days, we will be able to say that a possible reversal of the short-term trend we mentioned in previous articles has taken place. Especially if this is confirmed by indicators such as the Wilder directional indicator. BTC has also moved far out of its price channel and is currently below the 10, 20 and 50-day moving averages. The directional indicator has already shown a potential trend reversal and the MACD is approaching the negative zone. Today on the Conotoxia MT5 platform at 11:00 GMT+3, Filecoin (FIL) is down the most. It is experiencing a loss of almost 18%. According to Coinmarketcap, it has a capitalisation of almost $1.8 billion and a daily volume of over $511 million. Filecoin was launched in 2020 to decentralise data storage, providing an alternative to industry giants such as Amazon and Alibaba at a cost reduction of almost 99%. The project's network connects storage providers with customers looking for a place to keep their data. Those offering their storage from laptops to server rooms after verifying data integrity and security can obtain a FIL token as a reward. This creates a highly diversified and low-cost database network. However, the characteristics of the project are inherently inflationary, unlike BTC. The declines described are attributed to a broad market correction, the exit of 'big money' and growing pessimism about the increasing supply of FIL tokens. Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.   Source: The crypto market falls as profits are realised

Relevance up to 10:00 2022-08-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Crypto Industry News: About six years after Ethereum Classic miners excavated the first ETC block at block 1,920,000, the ETC hashrate reached the new ATH on August 20, 2022. The Hashrate ETC was 38.37 TH / s at block height 15 776 674. Hashrate joined the ETC chain over time, Ethereum is getting closer and closer to the Merge update scheduled for September 15, 2022. Four days ago, on August 17, the ETC hashrate was 27.56 TH / s and has increased by 39.22% since that day . The largest ETC mining pool is Ethermine, controlling 8.05 TH / s, and the next with 8.02 TH / s is Poolin. The combined hashrate of Ethermine and Poolin of around 16 TH / s is over 40% of the global ETC hashrate. The Ethereum Classic was launched after the 2016 DAO hack and the first ETC block was excavated on July 20, 2016. ETC supporters believe this is the original unchanged Ethereum Blockchain as the DAO hard fork wiped out the Blockchain event. Committing to proof-of-work, the developers of Ethereum Classic removed the "difficulty bomb" from the ETC chain at a block height of 5,900,000. While Ethereum Classic saw a significant jump in its hashrate rate, other Ethash-based token networks such as Ravencoin, Ergo, and Beam saw no significant increases in hashrate. The Nora's Ethereum Classic hashrate level record is thus in line with many predictions that the ETH hashrate would transfer to the ETC. Last week, JPMorgan's market strategists predicted ETC would likely be one of The Merge's main beneficiaries. Technical Market Outlook: The ETH/USD pair has fell out of the channel and the sell-off accelerates rapidly towards the technical support seen at the level of $1,559. The market conditions on the H4 time frame chart are extremely oversold, however the bearish pressure is still strong. The nearest technical resistance is seen at $1,666 and must be clearly violated in order to continue the up move. The key short-term technical support is located at the level of $1,559 and if clearly violated, then the next target for bears is located at $1,358.     Weekly Pivot Points: WR3 - $1,703 WR2 - $1,649 WR1 - $1,615 Weekly Pivot - $1,595 WS1 - $1,560 WS2 - $1,540 WS3 - $1,485 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358.   Read more: https://www.instaforex.eu/forex_analysis/289418

Market picture Bitcoin has declined 12.2% in the past seven days, trading at $21,500. Ethereum has lost 17.8%, down to $1560. Other leading altcoins from the top 10 have fallen from 7.8% (BNB) to 22% (Solana). The total capitalisation of the crypto market, according to CoinMarketCap, dipped below $1 trillion over the weekend, losing $150 billion over the week. Near this level, the crypto market lingered in mid-year and early 2021. Bitcoin's inability to develop growth above $25K showed that in the previous two months, we had only seen a rebound in a falling market, but not the start of a rapid recovery. BTC is showing negative technical signals, having fallen below its 200-week moving average, now passing around $23K. Most of Bitcoin's decline came on Friday, and its catalyst may have been a drop in stock indices. After four weeks of gains, the S&P 500 began a correction, with its biggest fall in almost two months. Pressure on risky assets came from the minutes of the US Federal Reserve's July meeting published on Wednesday, which showed the regulator's determination to fight inflation. Having broken the upward channel support, BTCUSD is now stomping around $21K, where the price direction has reversed four times in the past four months. News background The recent announcement by the US House of Representatives Energy and Commerce Committee that lawmakers are "deeply concerned" about the popularity of Proof-of-Work cryptocurrency mining may have affected the negative market dynamics. The members of Congress requested four mining companies to provide data on the environmental impact of their activities. The European Central Bank (ECB) outlined its plan to license cryptocurrency activities and create a regulatory framework governing the industry in the EU. On 12 September, the Chicago Mercantile Exchange (CME) will launch options on Ethereum futures ahead of The Merge. This will happen after regulators approve the initiative. Finally, the Accounting firm BDO Italia has provided an opinion on the adequacy of Tether Holdings' reserves to collateralise the USDT stablecoin fully.

The average bitcoin payment fee recently fell below $1 for the first time in years. Transaction fees are needed to enable crypto intermediaries to operate, but they are hampering the adoption of payment solutions, affecting small payments in particular. Because the network is expensive to maintain due to its energy-intensive nature, commissions have been able to shoot up many times, for example, Ethereum commissions during the NFT hype. This is even more painful for transfers of small sums. This is why new technological solutions are so important. Here comes ethereum's Merge and payment solutions for bitcoin (Lightning Network and Taproot overlays), which are already revolutionising the world of crypto payments. They allow settlements to be faster, less energy-intensive and less expensive. The current average transaction fee for BTC payments has fallen below $0.825 - the lowest since 13 June 2020, ETH below $0.64, and is likely to be even cheaper. Their decline is not only a reason for the ever-improving technology, but also the recent crash of tokens, NFTs and an increase in the ease of mining in the long term. However, current energy and cryptocurrency prices may cause a short-term decline in mining activity. Many have already suspended operations or exited the crypto world. This can be seen in particular through the massive sale of mining rigs and used computer hardware (especially graphics cards). ETH, BTC and most tokens seemed to continue their declines. ETH and BTC prices are below the price channel and in the absence of a return above its bottom line, we can probably already speak of a short-term trend reversal. ETH has found its support on the 50-day moving average for now, while BTC has already crossed it. Moreover, the technical indicators (RSI, MACD and ADX) do not indicate a reversal of the short-term trend either. Declines in the major stock market indexes, hawkish announcements from the FED and further pessimistic data from the economy seem to be putting a lot of pressure on crypto. RafaÅ‚ Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.   Source: BTC and ETH payments getting cheaper. Will Cryptocurrencies experience further declines?

Summary:  On Friday, crypto long positions worth north of $500mn were liquidated, as fatigue spread in the crypto market. Not helping was speculation that exchanges may be forced to censor certain transactions on Ethereum in the future. Speaking of transactions, the demand for them on Bitcoin and Ethereum has decreased significantly, weakening the fundamentals of particularly Ethereum. Traders standing in line to be liquidated The crypto market, notably Ethereum, recovered partially in July and August until last week. From a low of 17,600 (BTCUSD) and 880 (ETHUSD) in June, Bitcoin and Ethereum surged to a local high of 25,200 and 2,030 on the 15th and 14th of August, respectively. Following new local highs, the market was seemingly becoming exhausted last week. Since then, Bitcoin has plunged by 15.6% to 21,270, whereas the Ethereum price has declined by 23.3% to 1,565. On mainly Friday, crypto derivative exchanges saw red. On this day, long positions were liquidated worth a combined $562mn in 24 hours. This is almost as much as the day in June, when Celsius halted withdrawals, even though the market movement to the downside was larger in June. This means that the crypto market has been extremely leveraged to ride the uptrend the past month and that party came to a halt on Friday. It seems that traders have particularly leveraged Ethereum trades going into the merge. Can exchanges censor certain Ethereum transactions? Two weeks ago, the US sanctioned the most used mixer on the Ethereum network called Tornado Cash. The latter has often been linked to money laundering; however, it was frequently used by private individuals to engage with the Ethereum network privately. The Tornado Cash protocol cannot by default be shut down, since it is a smart contract, so the sanctions involve that no US person or entity is allowed to engage with transactions originating from Tornado Cash. Afterward, speculation arose about what could possibly be next in line to be sanctioned. The ultimate sanction could be to censor certain Ethereum transactions, thus possibly shutting down the Tornado Cash protocol for good. At the moment, it would not be possible for governments to directly censor such transactions, however, it might be possible for them, as soon as Ethereum adopts proof-of-stake instead of a proof-of-work framework in the middle of September, known as the merge. This is because the majority of the Ether staked, hence Ether used to verify transactions, is done through exchanges or other intermediaries by clients handing over their Ether to these companies for them to verify transactions on Ethereum. For instance, Coinbase handles close to 15% of the total amount of Ether staked. Governments can technically make Coinbase adhere to such sanctions by ensuring it does not verify transactions related to Tornado Cash on a network level. Without going into too many details, in our opinion, it is very unlikely that this will occur, both from a societal and technical point of view. Yet, if it in reality occurs, then everything in the industry is at risk since the main selling proposition is full decentralization without intermediaries. In case certain transactions are ruled out from the network, we need to look ourselves in the mirror and ask if this industry has then anything to offer at all. The speculation in this matter did arguably contribute negatively to the price development of Ethereum in the last week. Brian Armstrong, Coinbase’s co-founder and CEO, commented on this on Twitter last week. Here, he said that Coinbase would possibly exit its staking operations if governments came to enforce the sanction of transactions on-chain, as Armstrong stated, “to focus on the bigger picture” by keeping Ethereum decentralized. If all staking providers do this, then it will presumably not be a problem, as the network will be kept online by solo stakers. When prices drop, fees follow suit For the majority of the year, the crypto prices have been on a downward trajectory. Transaction fees paid on particularly Bitcoin and Ethereum have followed suit. In November last year, Bitcoin generated around $500,000 - $1mn in fees daily, while Ethereum set at around $50mn - $80mn in transaction fees daily. Now, Bitcoin averages around $150,000 - $300,000 daily, while Ethereum sits at around $2mn - $3mn daily. This emphasizes that most activity on Bitcoin but primarily Ethereum is highly speculative and strictly linked to the prices of cryptocurrencies. Source: Token Terminal For Bitcoin, there are no direct consequences of lower total transaction fees in the near term. However, it might have consequences in the next decades, since the network might not be able to sufficiently compensate miners. For Ethereum, the lower transaction fees result in less Ether burned, effectively meaning less is removed from the supply. This makes the fundamentals of Ethereum weaker. For instance, Ethereum has for the past year burned 4.71 Ether per minute from transaction fees, whereas it has only managed to burn 0.89 Ether per minute in the past 30 days. Bitcoin/USD - Source: Saxo Group Ethereum/USD - Source: Saxo Group   Source: Crypto Weekly: Leverage is the language of crypto

Most of the cryptocurrencies ended up in the heavy red over the past week, with most reaching double-digit losses. The overall cryptocurrency market volume in the past 24 hours came up to $60.83 billion - a drastic drop of over $17 billion from the past week. The overall crypto market cap decreased slightly compared to the previous week, coming up to $1 trillion, a slight decrease from the previous week’s $1.15 billion.   Let's delve deeper and take a quick look at the latest crypto market news and BTC's technical outlook.   Crypto Market Overview Bitcoin's dominance has remained below the 40% mark but increased slightly to 39.31%. This came as a result of BTC outperforming the top cryptocurrencies by making a smaller downturn. The most valuable cryptocurrency pair, BTC/USDT, is currently trading at $21,293.62, while Ethereum, the second-largest cryptocurrency by market capitalization, has fallen to $1,570.88, down 18.92% in the last week.   The top performers from the previous week were EOS (EOS) and Chiliz (CHZ), while the rest ended their week in the red. EOS has increased by 19.74% to $1.51, while CHZ gained 7.54% in the past seven days.   Cryptocurrency Market Heatmap | Source: Coin360   On the other hand, Lido DAO (LDO), Near Protocol (NEAR), and Curve DAO Token (CRV) were the worst performers of the week. LDO is down 31.27% to $1.91; NEAR is down 26.63% in the last seven days; CRV is down 26.17% to $1.   Top Altcoin Gainers and Losers Top Altcoin Gainers: EOS (EOS) ➠ 19.74% Chilliz (CHZ) ➠ 7.54% Top Altcoin Losers: Lido DAO (LDO) ➠ 31.27% Near Protocol (NEAR) ➠ 26.63% Curve DAO Token (CRV) ➠ 26.17%   News Highlights Here are some of the events that made the previous week's crypto news section stand out:   Ethereum 2.0 Merge in the Limelight, PoW Ethereum the Talk of the Town The Ethereum blockchain is on track to make its highly anticipated transition from its current Proof-of-Work (PoW) consensus mechanism to a Proof-of-Stake (PoS) one. The Merge date is officially scheduled for Sept. 15–16 after the successful final Goerli testnet integration to the Beacon Chain on Aug 11.   However, not everything is going smoothly, as a group of miners and PoW supporters have announced that they will opt to hard fork Ethereum and continue operations on the new version. Chandler Guo, a Bitcoin (BTC) miner, was among the first to bring out a case for the PoW Ethereum chain post-Merge. In a tweet on July 28, Guo shared with the public a screenshot of Chinese miners saying that PoW Ethereum is coming soon.   However, Vitalik Buterin has denounced those who are in favor of PoW Ethereum, claiming that the move is just a ploy for miners to make easy money without benefiting humanity - especially after them declining to move to ETC, a Proof-of-Work Ethereum fork from 2016.   Cardano Testnet Critical Bug a Controversy? Charles Hoskinson, the founder of Cardano, has come out to speak about how the issues surrounding the Cardano Vasil hard fork have been “incredibly corrosive and damaging.” After a rumor broke out that Cardano’s testnet is “catastrophically broken,” Hoskinson stated that there’s been an “unfair narrative” floating around Cardano and its testnet issues, which he called “incredibly corrosive and damaging.”   He spoke about how people can and should not conflate a failed testnet with the mainnet, because testnets are constructed and destroyed all the time in this industry. He then added that “They are in no way, in any way harm Cardano itself.”   The Vasil hard fork has already been delayed several times this year, with the most recent delay being announced at the end of July due to issues identified on the testnet. Hoskinson, however, remains optimistic that the Vasil hard fork will ship “imminently.”   USDC Records a 22-Month Low Whale Holding Percentage The percentage of USD Circle (USDC) stablecoins held by the top 1% of wallet addresses dropped to its lowest point in almost two years as the crypto market downturn continues. While the real reason or reasons for this are unknown, various commentators have suggested that some users shifted their stablecoin holdings from USDC to USDT. This claim was made given the correlation in the decline and growth of the respective stablecoins’ market cap.   Data from Glassnode, an on-chain analysis firm, shows that the percent of USDC held by the top 1% of addresses is currently at a 22-month low of 87.667%.   However, even though the market cap of USDC ended up reducing somewhat, the stablecoin reached a three-year high in terms of weekly mean transaction volume, surpassing the previous high it registered in June of this year.   Tether Decreases Commercial Paper Holdings by 58% An announcement from USDT issuer Tether Holdings Limited revealed the results of the independent Q2 attestation performed by the top accounting firm BDO Italia.   Tether had previously made an announcement that they intend to reduce their commercial paper holdings to 0% by the end of October 2022. Data from this report revealed a 58% decrease in commercial paper exposure since the previous quarter. When translated into dollar value, this is a decrease from $20 billion to $8.5 billion.   The CTO of Tether, Paolo Ardoino, tweeted that Tether plans to continue to decrease its commercial paper holdings to $200 million by the end of August, and to ultimately reach zero by the following October.   The Fear & Greed Index at 29, Market Turning More Bearish The fear and greed index continues to signal "fear," with an index indicating a 29 score. Fear levels have increased greatly since the past week, with the market now being much more fearful than on Monday past week, when the Index showed 45.   Fear & Greed Index | Source: Alternative Crypto Calendar: Events to Watch This Week ➺ 22/08/2022 - JEWEL - DeFi Kingdoms AMA ➺ 22/08/2022 - DFI - BitMart Listing ➺ 23/08/2022 - TRX - Telegram AMA ➺ 24/08/2022 - SAND - Alpha Season 3 Begins ➺ 25/08/2022 - Crypto - CoinFest Asia ➺ 26/08/2022 - ICP - BTC Testnet AMA   Bitcoin (BTC/USDT) Analysis on KuCoin Chart Bitcoin has had a very bad week, with its price slowly recording double-digit losses and dropping below several support levels. The largest cryptocurrency by market cap has seemingly failed to maintain the uptrend it kept for over a month, while also falling below the 21-day moving average level.   This downtrend has led BTC from a little over $25,000 all the way up to a high of $20,760, which it hit on Saturday. However, the price bounced back above the $21,000 mark, and it’s fighting to stay above this level.   BTC/USDT Chart on the Daily Timeframe | Source: KuCoin   Analysts are predicting an even further drop due to worldwide uncertainty, with long-term lows possibly hitting the low teens.   Bitcoin’s immediate support level stays at $21,000, while its immediate resistance level lies at the 21-day moving average, currently sitting at $23,100.   Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.     Sign up on KuCoin, and start trading today! Follow us on Twitter >>> https://twitter.com/kucoincom Join us on Telegram >>> https://t.me/Kucoin_Exchange Download KuCoin App >>> https://www.kucoin.com/download Also, Subscribe to our Youtube Channel >>>Listen to 60s Podcast Source: Weekly Crypto Analysis: BTC Testing $21K Support; Crypto Market Losing its Upward Momentum| KuCoin

According to Coinmarketcap data, the total capitalization of cryptocurrencies has fallen to nearly $1 trillion, showing a major shift in sentiment among traders and investors in recent days. The last time market capitalization was at this level was in late July. The possible trend reversal does not only apply to cryptocurrencies. The Nasdaq and S&P 500 have fallen from their local highs of August 16 by 5.7% and 3.8%, respectively. This is a significant change for such large indexes. Interest rates on U.S. 5-year Treasury bonds, after recording a local low of 2.55% on August 1, have risen to 3.17% in recent weeks, as Fed policymakers' statements proved more hawkish than expected. These are potential signs of a deteriorating outlook again, which should not be ignored. A chart of the Crypto Fear & Greed Index may show a decline in crypto market sentiment and an increase in investor fear. As recently as last week, the index showed a reading of 44, and now it is 28 points. Despite the partial decrease in the correlation between bitcoin and the S&P 500, it still seems to be high. Especially since it has historically risen during crashes - the last peak in the correlation was reached in mid-May, when both markets were down. BTC and ETH, despite finding support at $20,700 and $25,300, respectively, could be more exposed to the downside due to deteriorating economic data and market sentiment.  On the Conotoxia MT5 platform as of 12:00 GMT+3, one of the strongest falling tokens is EOS, which is losing nearly 9% after a 7-day gain of 48%. EOS is the native token of the EOSIO network. In practice, the project provides blockchain developers with a set of necessary tools and services to build and scale decentralized applications. The project's first whitepaper was released in 2017, and the team conducted an ICO, securing more than $4 billion in investment. It was one of the largest crowdfunding events in the history of cryptocurrencies.   Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Source: Does data signal more short-term declines in the crypto market?

It’s been a choppy day of trade, with much of Asia and Europe treading water while the US is expected to open marginally higher. It’s clear that investors already have an eye on the Jackson Hole Symposium later in the week and we’re perhaps seeing some apprehension and anxiety ahead of that. I’m not entirely sure where that has come from because they’ve been perfectly happy to bat away hawkish warnings in recent weeks and if anything, the data has turned slightly in their favour. It may simply be a case of profit-taking after a good run in case the message finally gets through and causes a wobble in the markets. Equally, we could just be seeing markets being set up for a strong end to the week if Chair Powell says anything remotely dovish that excites traders once more. Positivity in PMIs not going to last Outside of the US, it doesn’t seem there’s much to be optimistic about. European PMIs this morning, while marginally beating expectations in some cases, were pretty poor. The flash services PMIs for France and the euro area just about remained in growth territory but the trend suggests that’s only a matter of time. The UK services PMI was a positive surprise, falling only a touch from 52.6 to 52.5 against expectations of a much steeper decline. Unfortunately, not only was the manufacturing PMI frankly appalling, the performance of the far more important services sector is highly unlikely to last. A recession is coming, regardless. Steady after Friday’s tumble Bitcoin has stabilised a little in recent days following Friday’s sharp plunge. It appears to have run into support just above $20,000, around the same level it did back in late July. It’s also around the 61.8% retracement of the June lows to the August peak. As appears to be the case elsewhere, we may be seeing traders adopting caution ahead of Powell’s Jackson Hole appearance. A break below $20,000 could be a major blow. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Choppy trade - MarketPulseMarketPulse

Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: General Bytes is one of the three largest producers of crypto ATM in the world. The company announced on August 19 that their devices had been hacked in a zero-day vulnerability. This term denotes a software security bug that has not been identified by the developers. Hackers used it to modify settings for their own benefit. As a result of Thursday's attack on servers supporting the operation of bitomats, criminals carried out an operation to obtain administrator privileges. Then, they changed the address of the wallet of recipients of transactions, so that device users lost access to the flowing funds while buying or selling them. The manufacturer did not disclose to the public how many devices were affected by the hack and how many funds were stolen. However, the company advised operators to update the software immediately. It was established that the vulnerability has been functioning since Thursday's modification of the CAS software, as a result of which hackers managed to activate its new version with the number 20201208. General Bytes suggests that customers refrain from using their devices until the server is updated. The company hopes to fix the vulnerabilities and restore old settings with some tweaks. Before reactivating its terminals, General Bytes advised customers to review their "cryptocurrency sales settings" again. This is to make sure that hackers have not tweaked their settings so that the funds being sent go directly to their wallets. GB said several security audits have been carried out since the inception of their systems in 2020. However, never once has a similar vulnerability been discovered. Technical Market Outlook: The ETH/USD pair has fell out of the channel and the sell-off accelerates rapidly towards the technical support seen at the level of $1,559. The market conditions on the H4 time frame chart are extremely oversold, however the bearish pressure is still strong and the local bounces are very shallow. The nearest technical resistance is seen at $1,666 and must be clearly violated in order to continue the up move. The key short-term technical support is located at the level of $1,559 and if clearly violated, then the next target for bears is located at $1,358. Weekly Pivot Points: WR3 - $1,703 WR2 - $1,649 WR1 - $1,615 Weekly Pivot - $1,595 WS1 - $1,560 WS2 - $1,540 WS3 - $1,485 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358.   Source: Forex Analysis & Reviews: Technical Analysis of ETH/USD for August 23, 2022

Relevance up to 09:00 2022-08-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Crypto Industry News: The chairman of the US Securities and Exchange Commission (SEC) - Gary Gensler - says there is no reason to treat the cryptocurrency market any differently from the rest of the capital markets just because it uses a different technology: "Recent market events show why it is so important for cryptocurrency companies to comply with securities laws. In recent months, some cryptocurrency lending platforms have frozen their investors' accounts or have gone bankrupt. As for bankruptcy, these investors now have to fight in court. " - added. The head of the SEC emphasized that no matter what the financial product is, whether it is an application, a lending platform, a cryptocurrency exchange or a decentralized financial platform, the regulations must be followed. "For decades, the Supreme Court has explained that the economic realities of a product - not a label - determine whether it is a security [or not]," he explained. He added that he knew that "there are costs of compliance with securities laws." He likened it to "car makers bear the cost of fitting seat belts." Technical Market Outlook: The ETH/USD pair has bounced from the technical support seen at the level of $1,559, however, the bears hit the trend line support located around the level of $1,530 as well. The nearest technical resistance is seen at $1,666 and must be clearly violated in order to continue the up move. The key short-term technical support is located at the level of $1,559 and if clearly violated, then the next target for bears is located at $1,358. The momentum remains weak and negative, so the ETH market remains under the bearish pressure.     Weekly Pivot Points: WR3 - $1,703 WR2 - $1,649 WR1 - $1,615 Weekly Pivot - $1,595 WS1 - $1,560 WS2 - $1,540 WS3 - $1,485 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358.   Read more: https://www.instaforex.eu/forex_analysis/289757

Relevance up to 17:00 2022-08-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Red line- resistance trend line Blue lines- trading range Green line- short-term support trend line Since the recent low on August 21st around $1,524, Ethereum bounced towards $1,665 but remains trapped inside a trading range with no real progress. The sharp decline from $2,030 ended at $1,524 but price shows no sign of strength for a big bounce higher. Short-term support is found at $1,630, by the green upward sloping trend line. Resistance is at $1,665 by the upper boundary of the trading range. Ethereum is expected to make another move lower at least towards $1,550.I do not expect Ethereum to move higher than $1,750 at this point in time.   Source: Forex Analysis & Reviews: Ethereum continues moving sideways

Relevance up to 16:00 2022-08-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Ethereum rebounded in the short term but the current growth could be short-lived. After its amazing sell-off, the altcoin could try to recover. ETH/USD increased by 9.44% from Monday's low of 1,529 to yesterday's high of 1,673. It was trading at 1,644 at the time of writing. Ethereum has gone up by 1.25% in the last 24 hours but it has been down by 10.82% in the last 7 days. Bitcoin tried to rebound, that's why ETH/USD turned to the upside. ETH/USD Temporary Rebound? ETH/USD found support right above the 50% (1,519) retracement level and now has managed to pass above the 38.2% (1,640) retracement level. Still, as long as it stays under the downtrend line, the bias remains bearish. Also, the weekly pivot point of 1,718 represents an upside obstacle. Only a valid breakout through the downtrend line and above 23.6% (1,790) could announce that the downside movement ended. ETH/USD Forecast Testing and retesting the pivot point and the downtrend line and registering only fasle breakouts could announce a new sell-off. A larger downside movement and a great short opportunity could appear only after a valid breakdown below the 50% (1,519) retracement level.   Source: Forex Analysis & Reviews: Ethereum struggling to rebound

Crypto Industry News: The upcoming transition of the Ethereum blockchain to the Proof-of-Stake consensus model is on the final straight. The network's developers have given the exact date of this event, which was named the Merge. As is the case with such advanced activities, certain complications are inevitable. This is where web programmers play a key role, reacting quickly to errors that occur. Peter Szilagyi, one of the developers of Ethereum (ETH) software, reported on Twitter that he ran into a bug that could damage the network system. He explained that it was probably a request to accept changes that were attached to create a new retention model or shrink the current one. Some time later, the developer indicated that the caught bug will affect people who are running the version 1.10.22 it was related to. He added that the problem of data loss appears after turning off the devices, hence their tests were not able to catch the error. Nevertheless, the programmers managed to fix the observed error quite efficiently. The Go Ethereum team created a patch that eliminated it. He then instructed users to upgrade backwards and go back to the previous version to check if everything was working properly. Technical Market Outlook: The ETH/USD pair has bounced from the technical support seen at the level of $1,559 and is currently approaching the 38% Fibonacci retracement level of the last wave down located at $1,719. The next technical resistance is seen at $1,756 and must be clearly violated in order to continue the up move. The key short-term technical support is located at the level of $1,559 and if clearly violated, then the next target for bears is located at $1,358. The momentum is currently strong and positive, so the short-term outlook is bullish up to the 61% Fibonacci retracement level located at $1,836.     Weekly Pivot Points: WR3 - $1,703 WR2 - $1,649 WR1 - $1,615 Weekly Pivot - $1,595 WS1 - $1,560 WS2 - $1,540 WS3 - $1,485 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358.   Relevance up to 08:00 2022-08-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/289930

Relevance up to 10:00 2022-08-30 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. The Ethereum Merge is one of the most anticipated events for the crypto community in 2022, with the end of the multi-year plan to shift to a Proof-of-Stake protocol now in sight. Alas, all technology-related things are not free from bugs. Earlier this week, Peter Szilagyi, an Ethereum software developer, tweeted that his team had found a regression that resulted in a corruptive state. In the later update, the developer explained the problem will likely affect those who are running the release in terms of corrupting their database and resulting in the loss of data. A solution to the problem was found after a day of work. The date of the Merge is confirmed. The Ethereum Foundation provided evidence that this latest bug had not derailed the planned launch of the Merge. On Wednesday, the Foundation posted a blog, saying that developers had officially confirmed September 6 as the transition date to a Proof-of-Stake protocol. This will be a two-step Merge: the Bellatrix stage and the Paris stage. The Bellatrix update will take place at 11:34 AM UTC on September 6. The Paris transition to Proof-of-Stake will occur between September 10 and September 20. These dates could change plus or minus five days due to shifts in block time and hash rate fluctuations.   Source: Forex Analysis & Reviews: Ethereum Merge coming soon

Relevance up to 10:00 2022-08-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Ethereum is on the eve of a key event in its history, but even this did not keep the altcoin from falling. The cryptocurrency fell along with the entire market and tested the support level at around $1500. ETH managed to stop the fall and realize a local bullish momentum, gaining 4.5% over the past day. However, the asset has lost 7% of capitalization over the past seven days. As of August 25, Ethereum reached $1700, but should this be regarded as the end of the correction? On the daily chart, we see the full viability of the altcoin's local bullish momentum. Ethereum formed four uncertain candles in a row, indicating a decrease in overall trading activity and an advantage for buyers. The altcoin has reached a key support zone, which is on par with the final part of the bullish cup and handle pattern. Keeping the bullish pattern intact indicates that strong buying sentiment continues, suggesting a continued rise in the price of ETH. Technically, Ethereum also looks poised for a renewed upward trend. The main metrics of the asset indicate the activation of buyers and the presence of bullish momentum. The Relative Strength Index fell below 40 but then reversed upwards and crossed the 50 mark. The movement of the RSI directly indicates growing buying volumes and the presence of bullish momentum. The Stochastic Oscillator also confirms the price reversal and forms a bullish crossover near the oversold zone. The MACD also reverses and does not enter the red zone, which is an important bullish signal. Ethereum technical indicators indicate the final price reversal and the completion of the corrective movement. The main on-chain metrics also show an upward movement, which indicate a fundamental confirmation of the price rebound. The number of unique addresses on the ETH network has been showing strong growth since mid-August, suggesting an influx of new users and investments. This fact is confirmed by the growth in transaction volumes in the Ethereum network, which indicates a growing interest in the altcoin network. In other words, after a local correction, which was of a healing nature, Ethereum again attracts investors due to the fundamental factor for growth. In addition, there is an active accumulation of ETH coins by large buyers and miners. This creates a shortage of ether coins, which is especially valuable after inflation peaks in early August due to low fees on the ETH network. Active accumulation by long-term investors and a local decline in the overall trading activity in the Ethereum network had a positive impact on the cryptocurrency. According to the New supply on-chain indicator, the number of new coins is decreasing, creating an additional shortage of ETH in the open supply. However, despite all the positives, it is important to consider the correlation between ETH and BTC. In the coming days, there will be a Jerome Powell symposium, and statistics on unemployment and US GDP growth will also be published. This data can significantly affect Bitcoin, which, in turn, will pull Ethereum along with it. Therefore, if the medium-term prospects of ETH are not in doubt, then everything will depend on Bitcoin regarding the short-term situation.   Source: Forex Analysis & Reviews: Ethereum holds above $1500: altcoin correction completed?

After many years of announcements, the Ethereum Foundation yesterday set an official date for the complete transition to the Proof-of-Stake (POS) blockchain. As previously anticipated, there have been no delays, so the 'migration' is expected to begin as early as 6 September. The upgrade, known as 'Bellatrix', involves replacing ETH miners with validators, a kind of 'nodes' of the Proof-of-Stake system. They will be responsible for storing data, processing transactions and adding more chain blocks. Each validator is expected to hold a min. 32 ETH - at the current price, this is approximately $60000.  The Ethereum Foundation expects to activate the Beacon Chain as early as 6 September. This is expected to be the first test connection to begin the complete transition to POS. The activation is scheduled for 11:34:47 UTC. After the initial activation, the Terminal Total Difficulty (TTD) triggering the Merge is expected to reach a value of 5875000000000000000000000000000. This is nothing more than the level of synchronisation of the blockchain, which will become a Proof-of-Stake (POS) chain once the threshold value is exceeded. The timetable is for this to be achieved between 10 September and 20 September. According to CoinDesk, Ethereum developers estimate that this moment will occur on 15-16 September. Merge could have an impact on the crypto world and its prospects. Its scale seems to surpass the ETH split of 2016 and could point to new areas of growth such as a Proof-of-Stake solution, energy efficiency and much lower commissions.  In addition to its impact on the development of technology and ETH, the transformation may also affect other tokens that are heavily influenced by the changing ETH blockchain. We are talking primarily about LDO, ETC and OP tokens. These are projects to which an upgrade could give new meaning.  Additionally, yesterday Vitalik Butterin, founder of Ethereum, published a post on Twitter in which he stated, "People continue to underrate how often cryptocurrency payments are superior not even because of censorship resistance but just because they're so much more convenient,". By this, he seems to be referring to the fundamentals of crypto and the changes to come.   Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Source: Merge receives official start date - what do you need to know?

Crypto Industry News: According to analysts, with the accelerating global de-dollarization trend, two assets that could benefit from it are gold and crypto space. Earlier this summer, Russian President Vladimir Putin said Brazil, Russia, India, China and South Africa (BRICS) were developing a new reserve currency based on a basket of currencies. "The issue of creating an international reserve currency based on a basket of our countries' currencies is under development," Putin said in the BRICS business forum at the end of June. "We are ready to openly cooperate with all honest partners." Five countries are also trying to create an alternative international payment mechanism, he added. BRICS can also see its membership expand, with Turkey, Egypt and Saudi Arabia considering joining the group. This is not the first time that something like this has been mentioned, as the BRICS countries are already starting to introduce more local currencies into payments in mutual transactions. According to the Deccan Herald, India and Russia held discussions about the mutual acceptance of RuPay and Mir local payment systems during the summer. Analysts see this new BRICS reserve currency proposal as an alternative to the US dollar and the International Monetary Fund (IMF) Special Drawing Rights (SDR) currency. Technical Market Outlook: The ETH/USD pair bounce had been capped at the 38% Fibonacci retracement level of the last wave down located at $1,719 and the market is reversing lower. The next technical resistance is seen at $1,756 and must be clearly violated in order to continue the up move. The key short-term technical support is located at the level of $1,559 and if clearly violated, then the next target for bears is located at $1,358. The momentum is currently strong and positive, so the short-term outlook is bullish up to the 61% Fibonacci retracement level located at $1,836.     Weekly Pivot Points: WR3 - $1,703 WR2 - $1,649 WR1 - $1,615 Weekly Pivot - $1,595 WS1 - $1,560 WS2 - $1,540 WS3 - $1,485 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358.   Relevance up to 08:00 2022-08-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/290117

Relevance up to 14:00 2022-08-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Red line -resistance Green line - support In our previous analysis on Ethereum we warned traders that price was challenging important Fibonacci retracement level at $1,720. Price got rejected at the 38% Fibonacci retracement and broke below the upward sloping short-term support trend line. Ethereum has pulled back towards $1,620 forming a higher low. If bulls manage to break above recent highs at $1,720, then we could see Ethereum move higher towards the 61.8% Fibonacci retracement. Until then, price remains vulnerable to a move lower.   Source: Forex Analysis & Reviews: Ethereum rejected at Fibonacci resistance.

Crypto Industry News: The COVID-19 pandemic has undoubtedly changed our lives. In March 2021, as many as 43% of respondents said that they visit brick-and-mortar stores less frequently. At that time, it was probably influenced by the fear of contracting the coronavirus. Then the situation normalized in May this year as this percentage has dropped to 20%, which is still a considerable value, however. It can be considered that the pandemic has permanently changed our habits and helped us learn to use the Internet in a new way. The number of consumers who choose to shop online is growing. In May 2022, as many as 33% of Poles declared that they prefer to order products this way rather than go to stationary stores for them. This is as much as 9 percentage points (an increase from 24%) more than in March 2021. However, 37% of survey participants mentioned high delivery costs as a barrier when shopping online, 36% - lack of trust in online retailers.The 16% of respondents declared that they intend to buy fewer physical items in the future. "It is expected that with the development of platforms such as the Metaverse, this percentage will increase," the authors of the report add. This means some opportunity for the NFT market. Consumers may in the future buy not a CD of their favorite artist, but digital music along with tokens that confirm the originality of the files. Technical Market Outlook: The ETH/USD pair has been seen making new lower lows as the price is approaching the technical support located at $1,358. The nearest technical resistance is seen at $1,530 - $1,559 and must be clearly violated in order to trigger the up move. The key short-term technical support is located at the level of $1,358 and if clearly violated, then the next target for bears is located at $1,281. The momentum remains weak and negative, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice.     Weekly Pivot Points: WR3 - $1,532 WR2 - $1,486 WR1 - $1,468 Weekly Pivot - $1,444 WS1 - $1,424 WS2 - $1,400 WS3 - $1,355 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281. Relevance up to 09:00 2022-08-30 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/290334

The crypto market could have collapsed after Jerome Powell's heavily hawkish speech in Jackson Hole. That day, the leading tokens, bitcoin and ethereum lost 4% and 9%, respectively, and continued their declines over the weekend, reaching levels not seen in two months. On the Conotoxia MT5 platform, bitcoin is losing 0.5% today at 10:30 GMT+3. After breaking through the likely support level of $20750 on Friday, the token may have entered a short consolidation phase. However, given the potentially high level of pessimism in the market, it may be expected that this will not last long, with possible further downward movements ahead.  The BTC price is far below the 10-, 20-, 50- and 100-day moving averages. The nearest possible support levels are around $19300 and $18600. The MACD indicator and the directional indicator seem to indicate the continuation of the downtrend. The RSI oscillator may foretell its reversal, slowly entering the overbought area. However, since oscillators can usually give signals well ahead, one should be very cautious about this signal.  On the Conotoxia MT5 platform, ethereum is losing 2% today at 10:30 GMT+3. The token tested the likely support level of $1530 on Friday, then broke through it on Saturday. Unlike BTC, ETH has had a much more intense series of rises, and the potential for continued declines maybe even more tremendous. That's probably why the cryptocurrency hasn't even entered a short consolidation phase like BTC, and instead is set lower and lower on successive daily candles.  ETH is also below the 10-, 20-, 50- and 100-day moving averages. Popular technical indicators (RSI, directional indicator and MACD) seem to point to a continuation of declines. Even the RSI, which may look optimistic for BTC, has yet to reach the overbought area for ETH.  On the Conotoxia MT5 platform, the Cardano project's native token (ADA) is losing strongly today, falling nearly 2.5% at 11:00 GMT+3. Cardano is an ecosystem that allows developers to create tokens and decentralized applications (dApps) within DeFi. ADA uses the Proof-of-Stake (POS) blockchain. For a long time, the project has been considered one of the 10 best projects in the crypto world, according to a Forbes ranking. Currently, the token is most likely following the market and seems to be recovering from the increases over the last two months. The current declines in the crypto market may continue after the Fed chairman's hawkish speech. The expected pivot in monetary policy is likely to happen, but much later than investors anticipated. In the short to medium term, the speculative nature of cryptocurrencies and optimism about blockchain technology could be stifled by the recession, high-interest rates and lower disposable income.    Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.   Source: Crypto on fire - ETH and BTC are approaching price levels last seen in June

Relevance up to 16:00 2022-08-30 UTC+2 Red line -resistance Black lines- Fibonacci retracements Ethereum made new lower lows earlier today at $1,423. Price has reached the 50% Fibonacci retracement which was our next target after the rejection at $1,720 and the break of the support at $1,660. There are indications that price is preparing another bounce towards the important resistance trend line at $1,630. Price is making lower lows and lower highs after the top formation around $2,025. Price will remain vulnerable to more downside as long as it trades below the red trend line. Next downside target is the 61.8% Fibonacci level at $1,310. However first we should prepare for a bounce towards $1,600. Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Source: Forex Analysis & Reviews: Short-term technical analysis on Ethereum for August 29, 2022.

Bitcoin (BTC) In line with market expectations, the hawkish speech of the Federal Reserve chairman last Friday contributed to a significant decline in the cryptocurrency market at the end of last week. This fact caused Bitcoin to increase the scale of the depreciation lasting from August 15 to over 22.5%, slipping to the lowest level since mid-July this year. If this sale continues, BTC could soon return to the June and July lows, that is, to the region of USD 19,000. However, it is possible that, due to the relatively calm start of the new week, Bitcoin will see a slight upward recovery soon before it returns to the downward path. The catalyst for another sell-off may be the Wednesday and Friday data from the US labour market, which will undoubtedly significantly impact the Fed’s decision on the September federal funds rate hike scale. Ethereum (ETH) Looking at the Ethereum quotes, we notice that the price of this cryptocurrency fell by over 17% in the second half of last week, increasing the range of the depreciation that has been taking place since August 14 this year to a low of 30%. This sell-off plunged the ETH price below $ 1,780 technical support and below $ 1,575. The market is currently testing another $ 1,400 support. However, if this barrier is also overcome, then Ethereum could drop to USD 1,250. Bitcoin Cash (BCH) Over the past few days, Bitcoin Cash has slumped by over 20%, increasing the extent of the depreciation that has been ongoing since July 29 this year to nearly 33%. It also pushed the BCH back to $ 112, one of its lowest levels since mid-July. If the downward trend continues and the cryptocurrency drops below the currently tested support, it could continue its rally toward $ 97, which is another crucial support zone. Litecoin (LTC) Litecoin fell by 20% between August 14 and 20, breaking the bottom from an extended bullish wedge formation. This sell-off stopped at $ 52.50 technical support, where a demand response surfaced on August 20. Due to subsequent gains, the LTC returned to the ​​previously broken support (now resistance) area of $ 57.50, measuring a 38.2% Fibonacci correction from an earlier downward move. In the area of ​​this resistance, the supply response reappeared, and the quotes of this cryptocurrency once again fell to $ 52.50. Therefore, one can conclude that the LTC rate has stalled in the past few days in consolidation between the support at $ 52.50 and the resistance in the area of ​​$ 57.50. Given that the consolidations are corrective patterns and that the market had a downward move earlier, Litecoin is statistically more likely to break the bottom from the current layout, which could drive a further depreciation toward $ 42. Solana (SOL) We notice Solana’s quotations that the cryptocurrency has been moving from mid-June inside the bullish wedge formation. The last increases stopped in mid-August this year, near the upper limit of this system, where a supply reaction appeared again. The declines since then caused the SOL price to drop by almost 38%, breaking the bottom out of the wedge formation and beating the horizontal support of $ 32.50. If this trend continues, the quotations of this cryptocurrency could soon return to the region of the June lows, i.e. to USD 26. Polygon (MATIC) The Polygon cryptocurrency fell by more than 28% between August 14 and August 20 this year, slipping below technical support of $ 0.87. This sell-off stopped around the following support in the $ 0.75 region. The MATIC course has been in the horizontal trend for over a week. So we have a similar situation here as in the case of Litecoin. So if the currently tested support is permanently defeated, the MATIC could drop further to ​​$ 0.61, $ 0.45, or even $ 0.32. Ripple (XRP) Looking at the XRP quotations, we will notice that the price of this cryptocurrency has remained within a parallel growth channel since mid-June this year. After rebounding from the upper limit of this system at the end of July this year, the XRP rate stuck in a horizontal trend just below the local resistance of USD 0.39. The supply pressure observed on August 18 and 19 contributed to breaking the bottom out of this system. Moments later, the upward trend line was also broken, which was the lower boundary of the entire growth channel. This sale stopped only in the vicinity of the technical support of $ 0.3330, where there was a slight demand response on August 20 this year. However, the subsequent rebound only contributed to a re-test of the upward trend line and the previously defeated support (now resistance) of $ 0.36, which was the lower bound to the earlier consolidation. In reaction to the hawkish speech of the Fed chairman last Friday, the XRP rate rebounded from this resistance, and on Sunday, it fell even below the support of USD 0.333. If the downward trend continues, the price of this cryptocurrency could return to USD 0.30. Nem (XEM) We could also expect a continuation of declines in the Nem cryptocurrency quotes. Its price has dropped by more than 30% since August 11 this year, beating technical support of USD 0.048 and USD 0.043. If this trend continues, XEM could return to the May, June and July lows to the technical support of USD 0.037. Chainlink (LINK) We could also expect further declines in the Chainlink quotation. The LINK exchange rate rebounded on August 13 this year from the technical resistance of USD 9.30, the upper limit of the consolidation lasting from the first half of May this year. The recent sell-off contributed to the defeat of local support around USD 7.20, which may naturally drive a further depreciation towards the lower limit of the said consolidation, i.e. to USD 5.90.

Relevance up to 07:00 2022-08-31 UTC+2 Crypto Industry News: Mars Incorporated has signed an agreement with Universal Music Group. The latter company handles image licenses from NFT collectors who make up the virtual metaverse team - KINGSHIP. It's about graphics from BAYC and MAYC. As part of the new collaboration, there was a fairly original promotion of the NFT. Mars has released a limited edition of its sweets under the sign of two "MM". A gold gift box from M & M's hit the market. The number of such boxes was limited to only 100 pieces. According to the company, the series has already been sold out. The cost of one package was $ 99.99. However, this is not the end. Fans of sweets will also be able to buy brown boxes, which are a continuation of the "golden" ones. These will be numbered 101 to 4,000 and are still available. We encourage you, if you think it's worth spending $ 59.99 on candy. On top of all this, there are jars from M & M's printed with the image of the characters from the BAYC and MAYC series by KINGSHIP. Expense? Only $ 39.99. The jars were numbered from 1 to 6,000. Technical Market Outlook: The ETH/USD pair has broken above the technical resistance seen at $1,530 - $1,559 and the bounce continues higher towards the level of $16,54. The key short-term technical support is located at the level of $1,358 and if clearly violated, then the next target for bears is located at $1,281. The momentum is positive, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $1,532 WR2 - $1,486 WR1 - $1,468 Weekly Pivot - $1,444 WS1 - $1,424 WS2 - $1,400 WS3 - $1,355 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281. Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Source: Forex Analysis & Reviews: Technical Analysis of ETH/USD for August 30, 2022

Summary:  Since the largest Bitcoin exchange Mt. Gox was hacked in 2014, the trustee has managed to recover around 141,000 out of 850,000 Bitcoins. The recovered Bitcoins were rumored to be paid back to creditors this August. Yet, it seems that it will not occur in the next months, making the market wait in fear of potential imminent selling pressure. The market anxiously awaits 141,000 Bitcoins from Mt. Gox In 2014, the largest Bitcoin exchange at the time called Mt. Gox leaked a total of 850,000 Bitcoins through a hack. Out of a maximum supply of 21mn Bitcoins, the hack is the most consequential in the history of crypto, although there have been many other hacks. Though, the trustee managed to recover around 141,000 Bitcoins, which have to date not been paid out to creditors; that is clients with Bitcoins deposited to Mt. Gox back in the days. With a recovery plan approved by creditors last year, the payout is undoubtedly coming closer. It was rumored in July to take place this August. However, it now seems that it is still months away, as the repayment system is not yet live. Although the Bitcoins are likely not to be repaid in the coming months, it is expected to take place at some point. The market has been severely anxious with respect to the 141,000 Bitcoins potentially flooding the market immediately following the payout, since creditors may see it as a race in liquidating the Bitcoins before everyone else. Since Mt. Gox was hacked, the value of the Bitcoins has increased by a factor of 35, so the creditors might want to secure some profit. What speaks against this race to liquidate the Bitcoins is that the trustee is likely to repay the Bitcoins in installments one at a time. Likewise, these creditors are mainly strong Bitcoin advocates soon having been around for a decade. A substantial portion of them have already made life-changing money, so they are less prone to sell the Bitcoins. As the past has often proved, the anticipation of imminent heavy selling pressure is often more powerful for a potential downward trajectory than the selling pressure itself. Strictly speaking, we do not expect the repayment to pose heavy selling pressure, particularly if it occurs in relatively minor installments at a time. Yet, we have our eyes on the market’s anticipation of the repayment, because it might spread fear across the market since it is predominantly dominated by retail more inclined to fear. See you on the other side, dear NFT hype The crypto trend of 2021 was arguably non-fungible tokens (NFTs). The biggest winner of this trend was the largest NFT marketplace OpenSea, facilitating a volume worth $14bn in 2021. While OpenSea started the year nicely with an all-time high monthly volume of over $5bn in January, it has since seen its volume decline massively. OpenSea has recorded a volume worth $480mn in August so far, in which its volume barely exceeds $10mn some days. The declining volume is mainly a result of a less speculative market combined with diminished prices denominated in Ether and even more in dollar terms. Bitcoin/USD - Source: Saxo Group Ethereum/USD - Source: Saxo Group Source: Crypto Weekly: Anxiously awaiting 141,000 Bitcoins

The main altcoin continued its downward movement following Bitcoin, which broke through the $20k level amid disappointing statements by the head of the Fed. The situation around the altcoin looks more alarming given the presence of fundamental grounds for growth. However, the market is seeing signs of declining trading activity on the ETH network. A lot of questions are raised by the strategy of "whales," who are actively transferring ether coins to crypto exchanges, emptying cold wallets. Market participants regard this as an intention to sell large amounts of ETH and collapse the price.     The fundamental background in the form of the Merge update failed to save Ethereum from a direct correlation with stock indices. According to Santiment data, Ethereum closely follows the S&P 500 stock index. This proves the high level of Ethereum's dependence on macroeconomic events and also indicates that the upward movement of the cryptocurrency is limited by correlation with stock assets. Another negative factor was the announcement of the major crypto mining pool AntPool. The Bitmain subsidiary will not support client assets in Ethereum after the Merge update.     The resonant statement of AntPool is justified and goes far beyond the statement of one mining company. The fact is that the crypto community is seriously concerned about the issue of Ethereum censorship after the transition to PoS. This is largely dictated by the US sanctions policy regarding Tornado Cash. The position of Ethereum as one of the alternatives to the classical financial system, free from outside influence, has been significantly shaken. Investors are evaluating the risks of moving their assets to Ethereum 2.0 due to the chance of being censored and losing their funds. All these factors have become a catalyst for the decline in ether quotes last week.     However, the wide discourse around the ETH merger has favorably influenced the current position of the cryptocurrency. A temporary decrease in activity in the altcoin network led to a significant drop in fees. As of August 30, the transaction fee on the Ethereum network is $0.39. This provoked a lot of interest in the Ethereum network, due to which the number of addresses with a non-zero balance reached a new record at around 85,456,864. After a local pause, the Ethereum network also recorded an increase in trading volumes, which fully corresponds to the technical picture of what is happening with ETH.     Technically, Ethereum is showing resilience to selling pressure. The coin again fell to $1,500 but subsequently successfully defended this frontier. Following the results of August 29, a strong buying signal formed on the altcoin's daily chart. After testing the $1,500 level, Ethereum formed a "bullish absorption" pattern, suggesting the activation of buyers. It is important to note that the size of the bullish candle is twice the volume of the red candle for August 28. This is a positive signal that may indicate the emergence of an upward trend.   Just as importantly, thanks to the integrity of the $1,500 mark, ETH keeps the cup and handle pattern relevant. Therefore, the potential for an upward movement with a target up to $2,800 also remains relevant for the coming months. Despite the formation of a strong bullish signal, the technical charts do not look encouraging. The MACD indicator continues its downward movement in the red zone, which indicates that only a short-term upward trend is likely to form. The RSI index and the stochastic oscillator tried to develop an upward spurt during the formation of the "absorption" but subsequently acquired a flat direction.   Ethereum ends the last month of summer in uncertainty. Buying activity and institutional attention remain at a decent level, but this process does not find a significant reflection on the cryptocurrency charts. However, on the daily chart of Ethereum, we see clear signs of a decrease in correlation with the S&P 500. This is an important part of preparing for an upward movement before the confluence, as a drop in the level of correlation makes the altcoin more independent. As for the short term, ETH is able to reach the $1,700–$1,850 area. However, this week is full of important economic events that directly affect the quotes of ETH, SPX, and Bitcoin. For example, PMI data and non-agricultural employment data in the US economy will be released. These indicators play a key role in shaping Fed policy. With this in mind, we should expect increased volatility, in the coming days, rather than systematic growth towards certain targets. Relevance up to 09:00 2022-08-31 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320276

Crypto Industry News: Cryptocurrencies continue to face varying responses from governments around the world as some have accepted an emerging asset class while others try to ban certain aspects of their use to protect their financial interests. Japan sits firmly in the camp of promoting the benefits of cryptocurrency, as evidenced by a new proposal from the Financial Services Agency (FSA), a national financial regulator, which aims to ease the corporate tax on cryptocurrency profits to help bolster the economy. Based on a proposed revision, the FSA is trying to exclude companies from paying taxes on the paper-based cryptocurrency profits they hold after they are released. It also calls for the improvement of the scheme that gives tax credits to individual investors. The agency is taking this step to support Prime Minister Fumio Kishida's "New Capitalism" vision, which aims to revive the world's third largest economy. As part of his goal, Kishida is committed to helping Web3 businesses grow in the country and double the wealth of households. The current corporate tax rate of 30% is applied to profits from cryptocurrency holdings, including unrealized gains, prompting some companies to relocate to Singapore or other jurisdictions. This move by the FSA aims to combat this problem and encourage these companies to stay in Japan. Technical Market Outlook: The ETH/USD pair has broken above the technical resistance seen at $1,530 - $1,559, is up 13,67% and the market is consolidating the recent gains around the upper channel line. The next target for bulls is seen at the level of $1,654. The key short-term technical support is located at the level of $1,358 and if clearly violated, then the next target for bears is located at $1,281. The momentum is positive, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $1,532 WR2 - $1,486 WR1 - $1,468 Weekly Pivot - $1,444 WS1 - $1,424 WS2 - $1,400 WS3 - $1,355 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.       Relevance up to 08:00 2022-09-02 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/290943

Bitcoin price plunged below $20,000. It was another day of disappointing activity in the crypto market as prices dipped in the absence of any major events, which is typical of a crypto winter. The bulls should show more strength to break the downward trend, which is still evident on the daily chart. The bears still have a small overall short-term technical advantage. As for where the price could move next based on the current state of the market, analysts warn of the possibility of a decline to $11,000 at worst, while noting that at the moment, at best, support is at the 2017 high. Boring day in the altcoin market: Activity in the altcoin market largely reflected the performance of bitcoin, with most tokens trading flat the day after an early decline. Ethereum (ETH) staking platform Lido DAO (LDO) leads altcoins for the second day in a row, gaining 11.3% as the Ethereum merger date approaches. Other notable indicators include a 9.75% increase for MXC (MXC) and a 9.54% increase for the Curve DAO (CRV) token. The total market capitalization of cryptocurrencies currently stands at $985 billion, with a Bitcoin dominance rate of 39.3%.     Relevance up to 12:00 2022-09-02 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320565

Crypto Industry News: OpenSea, the world's largest NFT market, after The Merge enters into force, plans to support only those NFTs that are based on the proof-of-stake version of the Ethereum blockchain. "First and foremost, we are solely committed to supporting the NFT in the updated PoS [Proof-of-Stake] chain"- said OpenSea in a series of tweets published at the end of August. This is important information because the platform is a tycoon when it comes to NFT trading. So far, Ethereum-related NFTs have been sold on it for around $ 31 billion, The Block reports. All of this sum - which eclipses the volume of NFT transactions linked to other blockchains - is for NFT trading, which is backed by the current version of Ethereum, which is based on Proof-of-Work (PoW). The aforementioned The Merge - the final stage of Ethereum's transition from PoW to PoS - means that Beacon Chain and its validators will become the new foundations of the ETH blockchain network. This will affect many different cryptocurrency projects that are already busy preparing for the switch. An example of the above would be the Ethermine mining pool. As of this writing, there are 222,657 active miners on Ethermine, totaling 261.1 terra hash per second (TH / s). After September 15, the pool will still support PoW mining, but only ethereum classic (ETC), ravencoin (RVN), ergo (ERGO) and beam (BEAM) will be affected. Technical Market Outlook: The ETH/USD pair has broken above the technical resistance seen at $1,530 - $1,559, is up 13,67% and the market is consolidating the recent gains above the upper channel line. The local high was made at the level of $1,618, so the next target for bulls is seen at the level of $1,654. The key short-term technical support is located at the level of $1,358 and if clearly violated, then the next target for bears is located at $1,281. The momentum is positive, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $1,532 WR2 - $1,486 WR1 - $1,468 Weekly Pivot - $1,444 WS1 - $1,424 WS2 - $1,400 WS3 - $1,355 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.   Relevance up to 08:00 2022-09-03 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291135

 Compound launches Compound III, a more streamlined version of the protocol. Arbitrum set for a major upgrade on 31 August. Uniswap eyes NFT financialisation with talks of NFT lending protocols. Weekly DeFi Index This week’s price, volume, and volatility indices were negative at -11.84%, -11.68%, and -25.42%, respectively. Check the latest prices on Crypto.com/Price DeFi Index Tokens News Highlight Compound, a borrowing and lending protocol on Ethereum, launched a new version called Compound III. It’s a streamlined version of the protocol with an emphasis on security, capital efficiency, and user experience. The biggest change is that the collateral remains the borrowers’ property and nobody else can borrow or withdraw it. Additionally, borrowers won’t earn interest on their collateral, which could enable them to borrow more with less risk of liquidation. Ethereum layer-2 scaling solution Arbitrum is set for a major upgrade on 31 August. Referred to as the ‘Nitro’ upgrade, it alleges to increase transaction throughput, slash transaction fees, and simplify cross-chain communication between Arbitrum and Ethereum.  Decentralised exchange Uniswap engaged in talks with multiple NFT lending protocols to build NFT financialisation. According to a social post from Uniswap’s head of NFT product, the company is interested in solving both liquidity issues and the “information asymmetry” surrounding NFTs. DEX Protocols Metrics Sources: CoinGecko, DeFi Llama, Nomics, Crypto.com Research Lending Protocols Metrics *LDR (Loan to Deposit Ratio) = Total Borrowed / TVLSources: CoinGecko, DeFi Llama, Crypto.com Research Charts on Layer 2 Projects Overall, the L2 market continued the downtrend, dropping by -8.41% in the last week and the TVL of all L2 categories fell. Optimistic rollup projects dropped by -7.61% and zero-knowledge rollup projects decreased by -3.50%. Ethereum’s TVL fell by -4.69%. The TVL for all major optimistic rollup projects were negative last week, and Boba Network plunged the most at -16.50%. Similarly, almost all ZK rollup projects’ TVL declined except dYdX, of which its TVL kept stable and grew +0.21%. Loopring plummeted the most at -10.27%.

The cryptocurrency market came under pressure on Thursday along with global financial markets as the US dollar index surged to its highest level since September 2002, at 109.96. As the dollar rose, few assets were retained: the S&P 500, DOW and NASDAQ were all in the red, down 1.03%, 0.45% and 1.81%, respectively. History shows that September can be challenging for the financial markets. As for when volatility will subside, it may continue for some time as bullish traders are still overwhelmed by bears. Further evidence that Bitcoin sentiment remains negative was provided by crypto analytics firm Santiment, which showed an increase in average BTC funding rates. According to the average BTC funding rate on Binance, BitMEX, DYDX and FTX, the reaction to Friday's drop was the most aggressive since May, as repoted by Santiment. Ethereum shorts are accumulating. One of the biggest stories in cryptocurrency right now is the upcoming Ethereum (ETH) merger, projected to happen on September 15. At a time when many expected a "buy the rumor, sell the news" type of event, it starts to look like the merger has already been booked, prompting investors to position themselves ahead of a potential price drop. Santiment did warn to go along with the expected Ether price pullback, highlighting the fact that price increases have historically been more common under such conditions. In general, it was a negative day for the crypto market. A quiet day in the altcoin market: Of the top 200 coins listed on CoinMarketCap, Decred (DCR), which added $11.7, was the best performer for the day, followed by an 11% gain in Balancer (BAL). The total market capitalization of cryptocurrencies currently stands at $967 billion, with a 39% Bitcoin dominance rate.     Relevance up to 09:00 2022-09-03 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320663

The impending Merge (transition from POW to POS) of ethereum seems to be affecting ENS domain sales. Major crypto companies are not staying idle in the face of the chain transition and are becoming big stakeholders in the test "Beacon Chain". Ethereum Name Service (ENS), is a project that offers naming and recognition services for ETH wallets, in an operation similar to Internet domain naming, or DNS (domain name service). August became the third-best month in its annual history after ENS domains accounted for 2744 ETH or around $4.3 million in revenue.  According to ENS data for the past month, as many as 301,000 new .eth domain registrations were made and 34,000 new accounts were opened using at least one ENS name. The total of all .eth registrations now stands at 2.2 million names. The biggest convenience of the Ethereum Name Service is the ability to identify an ETH wallet by a short unique name in the .eth domain, instead of by an approximately 42-digit code. This simplifies token and NFTs transfers, as well as facilitates payments. In addition to these benefits, .eth domains, like .com, .net or .org internet domains, could be sold and may have their own unique NFTs.  The mentioned Merge involves ethereum moving from a proof-of-work blockchain to a proof-of-stake which, in a nutshell, means a different system of validating (confirming) transactions that are more energy efficient and cheaper, due to the use of economies of scale. ENS address registrations appear to be accelerating steadily. The record to date was set in July, when some 378,000 new names were registered. Although the role of domains in Merge itself is rather small, their increasing number may be a sign of the growing interest in ETH and the move to a cheaper and more efficient proof-of-stake (POS) infrastructure. The inevitable centralisation of DeFi? According to data from Dune Analytics and Nansen, crypto companies provide more than 66% of the staked ETH. This means that most companies such as Lido, Coinbase and Binance are likely to be responsible for a large proportion of transaction validation on the new ethereum system. Such entities, called validators, are supposed to be a kind of 'thread' of the new POS system. They will be responsible for storing data, processing transactions and adding more blocks to the chain. Each validator is expected to hold a min. 32 ETH - at the current price, this is approximately $51,000. Holding tokens makes such entities large depositories across the blockchain. This news has raised discussion on social media regarding the centralisation of the new blockchain, because with so much validation of POS transfers from institutions, can we really talk about DeFi? It seems that the ETH developers are aware of this drawback, but in order to make ETH efficient, reduce costs and further develop the ecosystem, they have decided to move towards a proof-of-stake blockchain. On the Conotoxia MT5 platform, ETH is gaining around 0.5% today at 11:30 GMT+3, already drawing its sixth daily bull candle. The consolidation seems to have put the token's price above the 10 and 100-day moving averages. Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Source: The Ethereum Name Service reports third-best month ever (conotoxia.com)

Market picture Bitcoin declined 0.4% over the past week, ending at around $19,900 without experiencing any significant movement during that time. For now, we can only say that the crypto market is wagering on the strengthening of the dollar, and to a markedly lesser extent than other markets. Ethereum added 5.9% to $1570, while other leading altcoins from the top ten showed mixed dynamics: from a decline of 1.3% (BNB) to a growth of 13% (Cardano). Total crypto market capitalisation, according to CoinMarketCap, rose 2.5% over the week to $976bn. The cryptocurrency Fear & Greed Index lost 8 points over the week to 20, returning to "extreme fear" status. Read next: ECB Will Continue To Hike Rates To Slow Inflation? | FXMAG.COM Bitcoin stood aloof from key market movements last week, moving on a short leash around $20K. Meanwhile, tectonic shifts were taking place in the markets as the dollar continued to renew multi-year highs and stock markets returned to a sell-off. Cardano rose sharply at the end of the week on the back of the news. IOHK, the company behind the Cardano project, has set a date for Vasil's update - the largest and most important hardfork in the project's history will take place on September 22. News background According to analytics service TipRanks, HODLers are refusing to sell the cryptocurrency. 62% of wallets hold bitcoins for more than one year. 32% of addresses control BTC for 1 to 12 months, and only 6% of investors hold cryptocurrency for less than 30 days. At the same time, both profitable and unprofitable addresses have a 48% share. Bitcoin miners' revenues in August amounted to $657 million and increased for the first time since March. The growth in revenues was helped by the growth of the first cryptocurrency's network hash rate. Despite the crisis, investor confidence in cryptocurrencies increased slightly over the quarter. 65% of retail investors and 70% of institutional investors trust digital assets, according to a survey by cryptocurrency exchange Bitstamp. Read next: Rising Interest Rates. How High Can They Rise?| FXMAG.COM Cryptocurrencies are helped by the aura that, in the long term, they are more promising than stocks and other risky assets, as they are at an early stage of adoption and still undervalued by the market. Ethereum co-founder Vitalik Buterin called the current bear cycle expected. In his view, Terra's collapse and market decline are a boon for the crypto industry, as they help identify problems and unsustainable business models well. With the rising capitalisation of the crypto market, the DeFi sector could pose long-term risks to financial stability, according to the US Federal Reserve.

Crypto Industry News: The International Football Federation (FIFA) is gearing up to open its new NFT token platform later this month. To start with, FIFA + Collect will release a number of initial token collections and reveal details of its upcoming exclusive and limited collections, the organization said in a published press release. The digital collections will represent unforgettable moments from soccer matches and feature iconic art and photos from the FIFA World Cup and the FIFA Women's World Cup. "This exciting announcement makes FIFA collectibles available to every soccer fan, demonstrating the possibility of owning part of the FIFA World Cup. [...] Fandom is changing and soccer fans around the world are engaging in new and exciting ways ... Like sports memorabilia and stickers, this is an opportunity available for fans around the world to connect with their favorite players, moments and more "commented Romy Gai, Chief Business Officer of FIFA. FIFA + Collect will be available on FIFA +, the federation's digital platform that provides access to live soccer matches from around the world, interactive games, news, tournament information and other original content. FIFA + Collect will initially be available in three languages - English, French and Spanish - with more coming soon, as well as on web and mobile devices. Technical Market Outlook: The ETH/USD pair had extended its move to the upside, was up 15,76% at one point during the weekend, however, the bulls were having problems with the technical resistance located at $1,654. The immediate technical support is seen at $1,530, but the key short-term technical support is located at the level of $1,425 and if clearly violated, then the next target for bears is located at $1,281. The momentum is positive, but not that strong and is hovers very close to the level of fifty. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $1,624 WR2 - $1,598 WR1 - $1,581 Weekly Pivot - $1,572 WS1 - $1,555 WS2 - $1,546 WS3 - $1,520 Trading Outlook: The Ethereum market has been doing the lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.     Relevance up to 09:00 2022-09-06 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291355

ETH perpetual futures funding rates at record lows. BTC options skews spiking as puts are being bid up. BTC hovering around short-term RSI oversold levels. Chart of the Week: Perps Funding Rates at New Lows There has been a flurry of activity in ETH derivatives markets as the expected mid-September date of The Merge closes in. Perpetual futures funding rates are printing at record negative levels, potentially implying caution from traders as they look to hedge downside risks. Previous issues of Market Pulse highlighted record open interest in options and record negative futures basis.  Fund Flow Tracker Aggregated exchange balance of ETH fell sharply to new lows during the past week, while BTC’s saw a bounce. Derivatives Pulse The BTC put-call ratio and skews (puts-minus calls) rose over the past week, implying increased cautious sentiment. Implied vols for both BTC and ETH were mostly flat during the past week. 1-week implied vol currently stands at 60.3% (vs. 65.3% a week ago) and 89.1% (vs. 98.9% a week ago) for BTC and ETH, respectively. Asset managers’ net-long position in CME Bitcoin futures dropped to the lowest level since February 2022, and leveraged traders’ net-short position continues to reduce.  Leveraged traders are typically hedge funds and various types of money managers, including commodity trading advisors and commodity pool operators. The traders may be engaged in managing and conducting proprietary futures trading, and trading on behalf of speculative clients. The asset manager category consists of institutional investors, including pension funds, endowments, insurance companies, mutual funds, and those portfolio/investment managers whose clients are predominantly institutional. The dealer category consists of participants typically described as the “sell-side” of the market. These include large banks and dealers in securities, swaps, and other derivatives. The other reportable category consists of traders mostly using markets to hedge business risk, and includes amongst others corporate treasuries. Technically Speaking The drop in BTC price has it hovering around short-term oversold levels based on the 14-day Relative Strength Indicator (RSI). Price Movements News Highlights Chicago Mercantile Exchange Group (CME Group), the world’s leading derivatives marketplace, has launched Euro-denominated Bitcoin and Ether futures. Meitu reported an impairment loss of over US$43M on its crypto holdings. Credit Suisse disclosed that it held US$31M in “digital assets” for clients as at the end of Q2 2022. Stacked, a Web3 streaming platform, has completed a US$12.9M Series-A funding round led by Pantera Capital. Catalyst Calendar Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners.

Crypto Industry News: The organization that builds the Cardano blockchain (ADA) Input Output Global has confirmed the date of the long-awaited Vasil hard fork. It will be carried out on September 22, which is roughly a week after Ethereum Merge. Cardano's price response looks quite lethargic despite the positive news, which perfectly illustrates the terrible sentiment on the cryptocurrency market. The quick deadline of the fork is all the more surprising because in the past developers reported postponing the event due to a significant amount of bugs and ambiguities during testing. At the same time, Cardano developers with Charles Hoskinson are rather meticulous, so the faster implementation date is rather a glove to Ethereum, because according to the developers it is Vasil's hard fork that is the most significant update of Cardano in history, which will ultimately increase network bandwidth and ensure lower transaction costs thanks to which it will increase the competitiveness against the recently popular Bitgert. Technical Market Outlook: The ETH/USD pair had extended its move to the upside again. The bulls had managed to rally 17.62% so far and are currently testing the technical resistance located at $1,654. The immediate technical support is seen at $1,530, but the key short-term technical support is located at the level of $1,425 and if clearly violated, then the next target for bears is located at $1,281. The momentum is positive and very strong, however the overbought market conditions can be seen on the H4 time frame chart. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $1,624 WR2 - $1,598 WR1 - $1,581 Weekly Pivot - $1,572 WS1 - $1,555 WS2 - $1,546 WS3 - $1,520 Trading Outlook: The Ethereum market has been doing the lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.           Relevance up to 08:00 2022-09-07 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291532

Technical outlook: Ethereum climbed through the $1,675 high during the early trading hours on Tuesday as was projected earlier. The crypto is seen to be trading close to $1,665 at this point in writing and is expected to push through $1,745 and up to $1,800 in the near term. As projected on the 4H chart here, the resistance zone is seen through the $1,800-05 area. Ethereum has already carved a meaningful downswing between $2,031 and $1,423 since August 14. The above drop is being worked upon and might retrace up to the Fibonacci 0.618 levels seen at about the $1,800 mark. Immediate price resistance is seen at $1,722 and a push higher will test $1,750 and above. The bears might be poised to come back in control thereafter. Ethereum is currently working to carve a counter-trend rally since printing lows at $1,423. The crypto is currently testing the Fibonacci 0.382 retracement of the above downswing and might correct lower. ETH is expected to resume towards $1,800 thereafter. Keep a watch at around $1,540 for intraday support. Trading plan: Potential rally through $1,800 against $1,400 Good luck!     Relevance up to 12:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291596

The cryptocurrency market is approaching a controversial period—autumn. On the one hand, the market has cheered up due to the upcoming Merge update and the likely easing of monetary policy due to the US congressional elections in November. At the same time, Bitcoin has historically had a bad September. The probability of maintaining this trend increases significantly, given the high probability of a 75 basis point rate hike. Despite all the inconsistency of the situation, Bitcoin and Ethereum still have chances to spend September on a bullish note. Bitcoin remains within the narrow range of fluctuations of $19k–$20k. The area formed after the breakdown of the key support level at $20.8k. Bearish pressure forced the cryptocurrency to move to the consolidation stage, but the process is moving very slowly. Glassnode experts note that BTC network activity is at a local low. Given the volatile nature of the upcoming economic events, the probability of an increase in trading volumes increases significantly. The current lull is also fundamental. Markets are pricing in a 70% chance of a 75 basis point rate hike in September, according to BBG analysts. On Thursday, Fed Chairman Jerome Powell will speak at the Cato Institute conference. Given the market reaction to the official's previous speech, there is every reason to believe that Powell will give the market clues about the Fed's next steps. Given the pessimistic expectations of the market, hints of a rate hike within 50 basis points could have a positive impact on the short-term prospects for the cryptocurrency market. The ECB meeting will be the second major event on Thursday. The meeting of the Bank will consider the issue of the level of the key interest rate and the interest rate on the deposit line. Most experts are inclined to increase the indicator by 100 and 50 basis points, respectively. For the cryptocurrency market, this will be a negative signal, as it will untie the hands of the Fed and allow you not to look back at the position of the euro against the US dollar. For the most part, Thursday will show which direction the stock and crypto markets will move in the coming weeks. Technically, Bitcoin continues to trade sideways for the tenth day in a row. Trading volumes remain low, which does not allow one of the parties to take the initiative. Technical indicators continue to move sideways without the presence of impulse movements in any of the directions. At the same time, the stochastic oscillator once again tries to enter the green zone, forming a bullish crossover. However, given the trading volumes, this attempt will not be successful. With regard to BTC/USD, the bearish idea remains relevant with a gradual breakdown of the $19k–$19.5k support zone, after which the asset may retest the local bottom. As of September 6, Bitcoin does not have the potential to be bullish and consolidate above $20.5k. The long-awaited transition of Ethereum to the Proof-of-Stake algorithm begins today. Ethereum's bullish potential could increase significantly if the cryptocurrency manages to successfully complete the merger of networks as part of the first stage of the Merge. Against the backdrop of the process that has started, investor interest in ETH is starting to grow again. The cryptocurrency has successfully broken through the $1,600 level and continues its upward movement. Given the nervousness surrounding Ethereum's transition to the new algorithm, the importance of today's merger phase cannot be underestimated. If everything goes according to the planned scenario, then we can expect the continuation of the bullish movement to the $1,800–$2,000 range. Ether's technical metrics support the thesis that the recent drop in Ether was a healing corrective move. As of September 6, the bullish mood of ETH investors is again showing an upward trend. The Relative Strength Index crossed 40 and continues to move upward, indicating growing buying power. The stochastic oscillator indicates a high level of bullish sentiment and a fast implementation of bullish patterns. The situation around ETH/USD is becoming more and more bullish, and among the immediate targets of the asset, it is worth highlighting the range of $1,650–$1,700. If this area is broken, the price will go to the final resistance line for the last six months at $1,800–$2,000. These are the short-term goals of Ethereum with a favorable development of the situation. In the long term, the target of $2,800 remains relevant.   Relevance up to 10:00 2022-09-07 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320933

The Ethereum blockchain is on the verge of a major and risky upgrade. This upgrade, if successful, would greatly reduce electricity use. This, in turn, would increase Ethereum’s acceptability to policymakers and financial institutions An ambitious upgrade to the world's second most important blockchain After a long period of anticipation, and if final tests go well, the world’s second blockchain Ethereum will probably transition from “proof of work” (PoW) to “proof of stake” (PoS) later this month. This means that transactions on the Ethereum blockchain will no longer be recorded by miners that spend a lot of computing power to prove they worked hard to verify transactions. After “the merge”, transactions will be processed by validators, that have staked Ether (in other words, put collateral in escrow) that can be forfeited if it turns out they were acting in bad faith. The discussion about the pros and cons of PoS vs PoW is almost as old as Bitcoin, and we can’t represent all arguments here. What we’re interested in, is that this transition to PoS may over time increase the acceptability of Ethereum, and all of the apps built on top of it, for policymakers and regulators. This in turn may provide a boost to traditional financial institutions' willingness to develop Ethereum-based services. Ethereum is not the first blockchain to adopt PoS. But it is generally considered the most important blockchain after Bitcoin, and Ethereum is a key building block of the decentralised finance universe. Moreover, Ethereum won’t go down for scheduled maintenance over the weekend to upgrade the network. Instead, as ethereum.org describes it, the new PoS-engine will be hot-swapped in mid-flight. A flight which hosts a variety of apps, tokens and platforms. What could go wrong? The stakes for the upgrade are high Indeed, while the Ethereum community has spent a lot of time testing PoS (the PoS testing ground called “beacon chain” has been running since December 2020), implementing such a fundamental upgrade while the network keeps running, is ambitious. As anyone who has ever tried to quickly upgrade the operating system on their computer will know, there are almost always unexpected hiccups that end up taking much more time than anticipated. We expect leading Ethereum developers to be pulling all-nighters glued to their screens during the upgrade. Another question during the upgrade is how Ethereum miners will respond. They have invested in dedicated hardware, typically GPUs, that can no longer be used for mining Ethereum after the upgrade to PoS. Some miners may decide to continue the PoW-based blockchain, creating a “fork”. Such a duplication of the blockchain with all its tokens creates a variety of problems e.g. for exchanges and traders. Luckily, the crypto community has gained experience managing such forks over the years. A successful upgrade would make Ethereum much more acceptable... Describing all these challenges, you may start to wonder why Ethereum embarked on this project at all. Apart from improved scalability, the main reason is a drastic reduction in electricity consumption. Ethereum.org claims a 99.95% reduction in electricity consumption following the switch to PoS. An important non-technical consequence of this great reduction in electricity need is that it may render Ethereum more palatable to policymakers and regulators. When the European Parliament discussed the EU’s incoming Markets in Crypto Assets Regulation earlier this year, sustainability was an important topic. Policymakers are uncomfortable with the PoW consensus mechanism’s high electricity use. To be sure, the pros and cons of PoW vs PoS are food for a fundamental and often heated debate, which has many more nuances than the –admittedly impressive– kWh figures suggest. We cannot do justice to this debate in this short piece. It is clear though that the switch to PoS removes power consumption as a problem for regulators. This, in turn, removes one stumbling block for traditional financial institutions and other companies to offer Ethereum-based services, although other obstacles may remain. ...though Proof-of-Stake is not the answer to life, the universe and everything either So what’s not to like about PoS? Apart from migration risks, PoS has its own challenges. For example, its code is much more complex than PoW. This may create new vulnerabilities. Hackers will certainly be exploring the new infrastructure for flaws. Another issue is that PoS creates a new form of inequality. With PoW, there once was a sense that everybody can join in and start mining. With PoS, in contrast, the “wealthy” can stake a lot of Ethereum and reap most of the validation rewards, further increasing their wealth. Yet the reality is more nuanced. PoS staking pools do provide opportunities for those with less Ether to spare. And with PoW on the other hand, the days that an old laptop was sufficient for mining, are long gone. Some people worry about increased possibilities for censorship by PoS validators. Yet in principle, PoW miners could apply censorship as well. It is also not evident that PoS will lead to a more concentrated validator landscape than PoW, where miners have been cooperating in mining pools for a long time. In the end, it’s less the technology that makes the difference, but rather the attitude –and regulation– of those using it. More generally, there is a tradeoff between censorship resistance and the application of anti-money laundering and sanctions policies which are required to render cryptocurrency acceptable to regulators. In the end, compromises need to be struck here.   Ethereum’s upcoming migration from PoW to PoS may be the biggest planned event in cryptoland this year. The migration itself and its aftermath carry risks, and will be closely watched within the crypto community. A successful migration would be a compliment to the Ethereum community’s ability to manage big events. It would also remove an important obstacle to acceptability of Ethereum to regulators and hence development of Ethereum-based services by traditional financial institutions. Read this article on THINK TagsSustainability Regulation Cryptocurrency Banks Disclaimer This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more

Crypto Industry News: The Ethereum merger could force many cryptocurrency miners to give up and abandon their expensive mining rigs in the midst of a profit race. The transition of the Ethereum network from Evidence-of-Work (PoW) consensus is likely to flood the crypto industry with idle Etherum (ETH) miners, causing severe disruption to all PoW tokens. Andy Long, CEO of White Rock bitcoin mines, said in an interview that the upcoming Ethereum merger will force PoW miners to look for more profitable ways, such as other PoW blockchains, and thereby "flood" other coins - increasing the difficulty of mining and reducing profitability: "The hash rates will flow to alternative coin PoW GPUs, and many miners will simply give up and try to sell their graphics farms," he said. However, there are still many cryptocurrencies that will continue their PoW path, including BTC, Litecoin (LTC) and Bitcoin Cash (BCH), as well as Ethereum Classic (ETC), Monero (XMR), Zcash (ZEC) and Ravencoin (RVN) . Technical Market Outlook: The ETH/USD pair had managed to rally 17.62% before the rally was capped at the level of $1,685 and the Gravestone Doji candlestick pattern was made on the H4 time frame chart. The market reversed almost all of the recent gains and broke below the technical support located at the level of $1,530. The next target for bears is seen at the level of $1,476 and at the last swing low located at $1,425. The momentum is weak and negative, which supports the short-term bearish outlook for ETH. Weekly Pivot Points: WR3 - $1,624 WR2 - $1,598 WR1 - $1,581 Weekly Pivot - $1,572 WS1 - $1,555 WS2 - $1,546 WS3 - $1,520 Trading Outlook: The Ethereum market has been doing the lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.       Relevance up to 08:00 2022-09-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291735

Bellatrix goes live on Ethereum’s Beacon Chain. MakerDAO’s co-founder Rune proposes ‘Endgame Plan’ to free-float DAI. KyberSwap suffers front-end hack and attacker moves US$265,000 worth token. Weekly DeFi Index This week’s price and volume indices were negative at -4.42% and -15.98%, respectively, while the volatility index was positive at +30.46%. Check the latest prices on Crypto.com/Price DeFi Index Tokens News Highlight The Bellatrix hard fork, the last major upgrade before Ethereum’s The Merge, was activated at epoch 144896 on the Beacon Chain. The purpose of this upgrade is to ensure validators are producing updated Beacon Chain blocks that will set up the codebase ahead of The Merge. Now, the last step is Paris, which will trigger the migration from proof-of-work to proof-of-stake upon hitting a specific Terminal Total Difficulty of 58750000000000000000000 (expected between 10 to 20 September 2022). Following the sanction on Tornado Cash in August, MakerDAO Co-founder Rune Christensen proposed an “Endgame Plan” to save DAI from regulatory capture. The plan would gradually reduce the real-world assets exposure, with the eventual goal of turning DAI into a free-floating asset. The proposal has received divergent opinions from the MakerDAO community. Kyber Network, the liquidity protocol on which KyberSwap is built, confirmed a front-end hack on 2 September. The attacker compromised the app’s front-end through the Google Tag Manager (GTM) script, which is generally used to track user activity and data for analytical purposes. Although Kyber identified the malicious codes and fixed them in a few hours, the hacker managed to move US$265,000 worth of Aave Matic interest-bearing USDC (AMUSDC) tokens in four transactions. Charts on Layer 2 Projects Overall, the L2 market TVL downtrend narrowed down, dropping by -2.38% in the last week. Optimistic rollup projects dropped by -1.37% and zero-knowledge rollup projects decreased by -4.36%. Ethereum’s TVL increased by +1.71%. The TVL for all major optimistic rollup projects were negative last week, and Metis Andromeda declined the most at -4.28%. In ZK rollup projects, StarkNet was under the spotlight as its TVL grew by +4.49%, followed by ZKSwap 2.0 (+0.8%). Loopring and dYdX saw a decline in TVL at -4.95% and -4.97%, respectively.

Blue line- neckline support In a previous analysis we noted the formation of a potential Head and Shoulders pattern in Ethereum. Price made a lower high yesterday and is turning lower towards the important short-term neckline support. Support is found at $1,717-10 area. A break below this level will activate the H&S pattern and provide us with an important bearish signal. Price continues making lower highs which is a sign of weakness. Ethereum remains vulnerable to more downside as long as price is below $1,720. Read more: https://www.instaforex.eu/forex_analysis/291786   Relevance up to 13:00 2022-09-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291786

Crypto Industry News: Industry experts warn of the potential consequences of the Ethereum merger for other cryptocurrencies that run on Proof of Work (PoW) consensus algorithms. With Ethereum moving to the proof-of-stake Beacon Chain, many miners will have a problem. Those who have secured the Ethereum blockchain will look to continue mining in other PoW chains. Ethereum Classic (ETC) saw its token value increase by more than 10% in early September when blockchain explorer and mining pool operator BTC.com launched the zero-fee ETC pool over a three-month period. Technical Market Outlook: The ETH/USD pair had reversed almost all of the recent losses and is currently back below the last local high seen at the level of $1,685. The nearest technical support is located at the level of $1,513 and $1,475. The momentum is strong and positive again on the H4 time frame chart, so the bulls are ready to break above the local high from $1,685 and test the nest technical resistance located at $1,722. Weekly Pivot Points: WR3 - $1,624 WR2 - $1,598 WR1 - $1,581 Weekly Pivot - $1,572 WS1 - $1,555 WS2 - $1,546 WS3 - $1,520 Trading Outlook: The Ethereum market has been doing the lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.     Relevance up to 08:00 2022-09-09 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291899

Technical outlook: Ethereum has rallied through the $1,657 highs after recovering from the $1,489 lows on Wednesday. The price action is in line with our projection as the bulls prepare for another push towards $1,700-10 in the near term (intraday). The bulls are looking poised to remain in control holding prices above the $1,489 interim lows going forward. the price is looking higher towards $1,750 and $1,800. Ethereum has carved a larger-degree downswing between $2,031 and $1,423 as seen on the 4H chart here. Since then, the crypto has been unfolding a corrective rally, which seems to have completed two waves at $1,722 and $1,489. Further, the bulls are now progressing into the final wave towards $1,800, which is also the Fibonacci 0.618 retracement of the earlier drop. Ethereum is currently working on its first lower-degree upswing between $1,489 and $1,657-1,700. Once the price action is over, prices could drop lower in a corrective manner but they still stay above $1,489. The bulls will be poised to be back in control thereafter and push through $1,800 before giving in to the bears. $1,489 should remain intact for the above structure to hold. Trading plan: Potential rally towards $1,800 against $1,489 Good luck!     Relevance up to 14:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291999

Crypto Industry News: Swiss SEBA Bank announced the introduction of the ETH staking service for institutional clients. This will happen exactly when Ethereum's transition to the Proof-of-Stake consensus model is achieved. The bank today published a press release in which it informs that this move is a response to institutional demand. They show interest in such services as cryptocurrency staking and DeFi. The bank's platform to manage staking options will give its users the ability to use a variety of protocols, including Ethereum, Polkadot and Tezos. In the future, the Swiss company intends to launch similar services for additional protocols. Commenting on the growing demand from their customers for this type of service and the upcoming the Merge, director of technology and customer solutions at SEBA Bank, Mathias Schutz said: "The Merge Ethereum is an anticipated and significant milestone for the world's second largest cryptocurrency, providing users with improvements in the areas of security, scalability and sustainability. Launching our Ethereum staking services will enable institutional investors to play a key role in securing the future of the network through a trusted, trusted, secure network. a safe and fully regulated counterparty ". SEBA Bank is a cryptocurrency financial institution that is fully regulated by government institutions. It offers a wide range of solutions, including trade and credit services. By directing its activities towards Ethereum, the bank counts on acquiring new institutional clients who want to help secure the network. Technical Market Outlook: The ETH/USD pair has been seen trading at the level of $1,720, which is abive the 100 DMA already. The next target for bulls is seen at the level of $1.722 (technical resistance), $1,785 and $1,819. The nearest technical support is located at the level of $1,513 and $1,654. The momentum is strong and positive again on the H4 time frame chart, so the short-term outlook for ETH remains bullish. Weekly Pivot Points: WR3 - $1,624 WR2 - $1,598 WR1 - $1,581 Weekly Pivot - $1,572 WS1 - $1,555 WS2 - $1,546 WS3 - $1,520 Trading Outlook: The Ethereum market has been doing the lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.9 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade     Relevance up to 09:00 2022-09-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292120

While Bitcoin fell below $19k and was on the verge of falling to the local bottom, Ethereum confidently maintained its bullish positions. After a local recovery impulse of the first cryptocurrency, the main altcoin resumed its upward movement. The asset has reached the upper boundary of the resistance zone and, as of this writing, is trying to gain a foothold above the $1,700 level. In general, the altcoin successfully implements the bullish market momentum ahead of the Merge update. However, should we expect a full-fledged upward movement of the cryptocurrency shortly before the merger? From the fundamental point of view, the answer to this question seems not so obvious. Two days ago, the Bellatrix update took place on the Ethereum network, which became the final chord of preparing the altcoin for the transition to PoS. The upgrade was successful, but investors had some doubts. They were dictated by a significant increase in the number of missed blocks in the ETH network after the Bellatrix update. The indicator increased by 1,700%, and the number of blocks that did not pass the check on the first attempt reached 9%, against the norm of 0.5%. The Ethereum developers said that the problem was related to nodes that did not install new software. It is reported that about 25% of the nodes are using the old collateral, but even a small percentage caused failures in the ETH network. Questions about the decentralization of Ethereum are also gaining momentum, because more than 50% of all ETH nodes are made up of the United States and Germany. Amazon is the end user of more than 50% of Ethereum nodes, and the Geth open source project remains the main enabler for most of the nodes. However, judging by the growing volumes of trading and the increase in addresses, the market is not very worried about the possibility of transactional censorship. The situation with the update of Ethereum remains stable and interest in the main altcoin is growing. Given the fundamental interest of investors in Ethereum, a similar situation should be observed in technical metrics. On the daily chart, Ethereum remains bullish. The price managed to hold the key support level at $1,400. Thanks to this, the "cup and handle" pattern remains relevant and, consequently, the bullish potential of the price movement to $2,700-$2,800. Technical indicators also confirm the bullish market sentiment. The Relative Strength Index crossed the 50 level and continues to move up, which indicates growing buying volumes. The stochastic oscillator is also successfully implementing bullish impulses and is approaching the overbought zone. Given the proximity and fundamental nature of the Merge update, the metric will remain close to this zone until the merge is completed. An important and positive signal for the ether was the fall in the level of Bitcoin dominance to 36%. Subsequently, the metric recovered to 39%. However, this is direct evidence that Ethereum is temporarily at a higher investment preference than Bitcoin. In other words, the main flows of investments, including institutional ones, are directed to the main altcoin. This thesis is also confirmed by colleagues from Chainalysis, who are sure that ETH has taken on the burden of temporary leadership. Experts report that due to the improvement in the technical characteristics of ETH, including staking, altcoin will become even more popular among large players. This thesis is confirmed by the on-chain metric showing the number of addresses with 1000+ ETH. A significant increase in the number of addresses with this amount of ether coins indicates a high level of confidence in the upcoming update. However, it may also indicate investors' plans to take advantage of the staking feature after the merger. For ETH, this is doubly positive news, as profitable staking will allow the asset to avoid a sharp and massive sell-off. However, we should expect a slight drop in the price of Ether after the update due to market conditions. Ethereum on-chain metrics also show positive dynamics. Trading volumes have taken a sharp upward direction, but still do not reach the levels of mid-July, when the altcoin was at its peak of growth. The number of unique addresses in the cryptocurrency network remains high, but practically unchanged. The indicators of the main on-chain metrics indicate the initial stage of the emergence of an upward trend. It is likely that the numbers will continue to rise ahead of the merger and will peak on September 15–16. It is then that we should expect a peak in the growth of ETH/USD quotes. Given the fundamental reasons for growth and investors' faith in a successful upgrade, there is no doubt about the local bullish trend of ether. On the eve of the merger, the asset will consolidate and gradually approach $1,800–$2,000. Given the successful movement in this area a few weeks ago, one can be sure of ETH/USD consolidation above $2,000. The main targets of Ethereum within the bullish movement due to the Merge update are the $2,000-$2,100 and $2,400-$2,500 areas. Most likely, the price is able to go higher and stab higher levels, but the main potential ends in the $2,400-$2,500 area. Ethereum update will have a positive effect on the cryptocurrency and DeFi/NFT market, but given the macroeconomic background, fundamental shifts should not be expected.       Relevance up to 09:00 2022-09-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321260

Jonny Hart looks back on the week’s business and markets news with OANDA Senior Market Analyst Ed Moya in New York.  This week they talk about Queen Elizabeth II’s legacy, the ECB policy decision, the UK energy plan, and Ethereum’s Merge.  They also discuss what the week ahead has in store for financial markets.   This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

If you have ever used the Ethereum blockchain, you must have noticed that most of the tokens used in trading and investing are ERC-20-based tokens. This token standard has become the most used option in decentralized applications (dApps), wallets, and crypto protocols due to its many functions. However, Ethereum blockchain’s native token, Ether (ETH), in a tough position as it doesn’t align with ERC-20 token standards. Regardless, users continue to demand to use Ether in the decentralized finance (DeFi) and crypto space. This is where Wrapped Ethereum (WETH) comes in. Wrapped Ether has become one of the favorites of investors and developers on the Ethereum blockchain as it presents a lasting solution to the use of Ether in the DeFi sector. WETH is pegged to Ethereum’s price and is an ERC-20 token. Users can easily convert Wrapped Ether back into Ether. This article is an in-depth introduction to everything Wrapped Ethereum. Keep reading to find out more! Welcome to our brand-new educational series on Ethereum, which is a consumer awareness initiative to help understand everything about the inner workings of the Ethereum blockchain, Ether token, and much more. What are Wrapped Tokens Before we get into the nitty-gritty of Wrapped Ether, let us start with understanding the wrapped token concept. Wrapped tokens are digital assets that allow for the movement of value from one blockchain to another, a form of blockchain interoperability. The most popular wrapped token is the Wrapped Bitcoin (WBTC), which is pegged 1:1 to the price of Bitcoin (BTC), giving 1 WBTC the same value as 1 BTC. WBTC solves the interoperability limitation of Bitcoin by allowing BTC holders access to other blockchain ecosystems through its ERC-20 or TRC-20 functionality. Wrapped coins have been compared to Stablecoins, and they fit this description in a way. Stablecoins, such as the USDT, track the value of a real-world asset like the dollar, making $1 the same as 1USDT. What makes wrapped tokens fascinating is not the fact that they are pegged 1:1 to the value of another asset. Instead, it is the technology behind these assets, and the way value is backed and preserved. Classification of Wrapped Tokens Broadly speaking, there are two kinds of classes that all wrapped tokens fall into, including cash-settled and redeemable. The former, cash-settled wrapped tokens, cannot be redeemed for the underlying asset after conversion. This makes cash-settled tokens a permanent one-way street kind of token. On the other hand, redeemable wrapped tokens — as the name suggests — can be converted back into the original asset. Meanwhile, blockchains determine the functionality of a token being wrapped, by playing host. For example, wrapped privacy tokens are hosted in the Monero or ZCash blockchains. Usually, the wrapping process is done to tokens with notable utility outside their native blockchains. Here’s a quick look at some of the types of wrapped tokens available on the market: Centralized/Custodial Wrapped Tokens One of the most popular examples of a centralized or custodial wrapped coin is the wrapped Bitcoin (WBTC), an ERC-20 token. The value of this token class is sustained by two parties: a custodian and a merchant. Both parties validate transactions on this wrapped coin class using the Proof-of-Stake (PoS) mechanism and ensure the underlying coin is stored securely. To convert a coin into its wrapped form in this setting, the coin will be delivered to a merchant. This merchant stores the said coin as collateral with a custodian that supplies the desired wrapped coin. Non-Custodial Wrapped Tokens As the name suggests, this wrapped token class does not involve any third-party custodial services. Minting of non-custodial wrapped tokens is handled on a DAO. Hybrid Wrapped Tokens Hybrid tokens operate with both a centralized custodian and a DAO, infusing the best of both custodial and non-custodial wrapped token types. Hybrid tokens affect the most interoperability and flexibility across chains. However, this wrapped token type is relatively unknown and not acceptable or compatible with many DeFi projects and decentralized applications. Wrapped Ethereum (WETH): The Basics Drawing the meaning from wrapped tokens, Wrapped Ether is the tokenized version of Ether and is pegged 1:1 to the price of ETH. Unlike Ether, WETH cannot be used to settle gas fees. Thanks to its ERC-20 functionalities, WETH is suitable for advanced blockchain transactions in the DeFi space. Despite being the progenitor of the ERC-20 token standard, the ETH token was created too early before the advent of the ERC-20 idea, cutting it out of many functions. Creating and Minting Wrapped ETH Creating (minting) Wrapped Ether rests in the hands of the users of Ethereum and is a seamless and quick process. ETH holders simply have to send their tokens to a specific smart contract, which automatically generates WETH and credits it to the user’s wallet. The smart contract serves as a custodian and locks up the ETH, thereby ensuring every single WETH in existence is backed by ETH reserves. To maintain the WETH peg to the value of ETH, all WETH is burned (destroyed) whenever it is exchanged for ETH. An easier method of acquiring Wrapped Ether is to swap another token, Ethereum, or any other tokens in your possession, using coin exchangers. Some popular options for swapping your tokens for WETH include Uniswap or Sushiswap. How are Wrapped ETH (WETH) and Ethereum (ETH) Different? Some traders grapple with understanding the difference between ETH and WETH. Let’s start by understanding what Ethereum is. Today, many crypto projects prefer to create unique native tokens for facilitating transactions on the blockchain. In this sense, Ethereum created Ether (ETH) as the native cryptocurrency for its network. That said, customers interested in facilitating transactions directly on the Ethereum blockchain must use ETH to complete the process. Ether has grown into a massive asset and is used in several settings, such as for payments of goods and services on the Ethereum network, settling gas fees, and speculation. Now that we know what Ethereum is, Wrapped Ethereum is the wrapped version of Ethereum. Think of a candy wrapped in a plastic wrapper; the candy is ETH while the wrapper is WETH. As mentioned at the outset, Ethereum is not an ERC-20 token, limiting its use in the DeFi and crypto world. This is the primary solution WETH offers, as it is an ERC-20-standard token, allowing ETH holders access to previously restricted niches of the market. Wrapping ETH WETH tokens are created by depositing ETH into smart contracts. These smart contracts act as a custodian and lock the deposited ETH in a secure address, which can be exchanged back into WETH on request, given the wrapped tokens are backed 1:1 by the ETH deposited. That said, converting WETH back to ETH essentially destroys or burns the tokens. Wrapping and unwrapping Ethereum comes at a small cost which varies across conversion platforms. Meanwhile, users can choose to swap ETH for WETH through a decentralized exchange (DEX). Users can also swap their tokens for the value equivalent in WETH using Uniswap, OpenSea, and MetaMask. Described below is a step-by-step guide to wrapping ETH through MetaMask: If you don’t already have a MetaMask account, create one and sign into your wallet. Confirm that you have funds available in the wallet. If you don’t, you can buy ETH using your credit or debit card, or you could send ETH from an external wallet. Log on to a decentralized exchange, such as Unswap, and link your funded MetaMask wallet with it. Then, you need to choose the Ethereum mainnet as the preferred platform before clicking swap. Once this is done, a prompt bearing the options of tokens is displayed. Select WETH from the drop-down option in the ‘Swap to’ box. Select the amount of ETH on your MetaMask wallet you want to wrap and select ‘Review Swap.’ After this, a prompt bearing the details of the final transaction is displayed. Confirm that the displayed amount is what was originally chosen and other conversion details. The transaction will not go through if you do not have enough funds. A prompt to add more funds will be displayed. Once confirmation is settled, complete the transaction by clicking the ‘Swap’ icon. The newly-minted WETH will be credited to your MetaMask wallet. Unwrapping ETH Say you want to convert your WETH back to ETH after the transaction you needed the ERC-20 token for is done, all you need to do is unwrap your WETH. Unwrapping a coin is the process of burning the wrapped coin and receiving the original version in your wallet. As for wrapping Ethereum, there are several ways to unwrap WETH, including: The manual process through interaction with a smart contract. Exchanging WETH for ETH on a DEX. Unwrap WETH on MetaMask on OpenSea. In this article, we’ll focus on the third option for unwrapping Ether. The process is as follows: Open the OpenSea website and log into your account. If you don’t have an account, create one and continue with the described process. Locate and click on the wallet icon. Though it varies for some devices, it should be at the top right corner of your screen. A prompt will appear requesting you log in using your wallet. Select MetaMask and proceed. You should already have a MetaMask wallet from wrapping Ethereum. If you don’t, create one and proceed. Sign into your wallet using your password. After that, you should see your fund details displayed on the screen. If you have insufficient funds, deposit more WETH and proceed. Click on the ‘option’ icon (usually represented by three bold dots) that appears under your WETH details. Select ‘Unwrap.’ Another prompt with the transaction details would be displayed on your screen at this point. Carefully examine the details of the transaction and ensure everything is correct. Click on ‘Unwrap.’ Once this is done, click on ‘Confirm’ to transfer the original token (ETH) to your wallet. You should be credited shortly after this. This is the best and fast and best way to unwrap and wrap ETH. Pros and Cons of Wrapped ETH (WETH) DeFi Activity Enhancement The Ethereum network is the broadest DeFi ecosystem on the block today, with the most compatibility. Unlike Bitcoin, Ethereum’s functionality is not limited to registering and validating transactions on the blockchain. WETH further improves Ethereum’s unparalleled functionality and reach by increasing its usability, leading to more advancements and innovations in the decentralized finance ecosystem. Interoperability Wrapped Ether delivers interoperability with standardized coins, allowing for the seamless flow of resources between blockchains innovatively. This inevitably improves blockchain processes and reduces the margin for errors substantially, creating room for more innovation and improvements in Ethereum’s DeFi ecosystem. Elimination of Third Parties Another critical benefit WETH renders is that it allows for decentralized transactions without the need for any third-party facilitator or mediator. Transaction Efficiency It needs no mention that wrapped coins like WETH allow transactions to be facilitated more efficiently, thanks to the immense compatibility and interoperability they have. Risks Associated with Wrapped ETH Custodial Risks As mentioned earlier, smart contracts — that serve as custodians — are needed for the process of wrapping or unwrapping Ether. That said, issues arising from the underlying WETH smart contract in a transaction could put users’ funds at risk. A smart contract is only as good as its host blockchain, making it advisable to always use more reliable exchanger platforms. Centralization Risks The primary function of the DeFi space is in its name: decentralization. The reliance on platforms to hold, mint, and burn tokens brings about some form of centralization, which defeats the whole purpose of decentralization. For example, say $2 billion worth of WETH is domiciled in a centralized entity or smart contract provider. This gives the custodian in question some degree of control over these funds. Associated Transaction Fees The wrapping and unwrapping process of Ethereum is not free; there are transaction fees associated with it. It requires gas fees, which could be exorbitant sometimes. Transaction fees and slippages from frequent wrapping and unwrapping processes can snowball into large sums and eat at funds. Will WETH Always Remain Pegged To Ether? Short answer: yes. It has to. As mentioned earlier, wrapped Ether works similarly to a Stablecoin, as it has to remain as close as possible to the price of the original asset, or else it all falls apart. This is the reason for the minting and burning of WETH on every transaction; to make sure demand and supply are tamed. In a scenario where WETH loses its peg, even if only slightly, and becomes cheaper than ETH, investors will immediately capitalize on the arbitrage opportunity and purchase more WETH and sell for ETH to make a quick profit. This would trigger a massive demand for WETH, which would, in turn, boost the price of the instrument, returning it to the peg. The same is true when the price of WETH becomes higher than Ether, with investors purchasing Ether and converting it to WETH coins for profits, lowering the price of WETH. This primary demand and supply principle is the sustaining factor in ensuring a relatively stable peg between these assets. Final Thoughts WETH brings so much utility and efficiency to the Ethereum network users. Because of its ERC-20 quality, WETH can essentially be used across most blockchains, a feature lacking in Ethereum. As discussed in the article, switching between ETH and WETH is a straightforward process that requires no technical knowledge or skills. Also, both wrapping and unwrapping processes adhere to the 1:1 rule, meaning you will always get the number of tokens desired outside transaction costs. With Ethereum — the largest DeFi and smart contract ecosystem — constantly reinventing itself, more use cases for WETH in staking, NFT auction bidding, providing liquidity, yield farming, and crypto lending will continue to emerge.

Crypto Industry News: Ethereum is struggling with its impending merger. This time the problem is with miners. Among them is a group that believes that switching to Proof-of-Stake may prove to be a threat to them. Chandler Guo, who spearheads efforts to maintain the current Proof-of-Work mechanism, believes that after the transformation, miners will be "broke" because the "multi-billion dollar" industry will disappear overnight. Despite this, the Ethereum Foundation remains optimistic about the upcoming changes. According to her, such a move will reduce blockchain energy consumption by 99.95%. This would be a step that could make this technology more environmentally conscious for companies. But Guo said the miners, who are "the community's largest stakeholder," are being pushed out of the business. He further stated that he knows that critics like him outnumbered major crypto companies including OpenSea, Tether, and Circle that back The Merge. Justin Sun, founder of the Tron ecosystem, also believes that Ethereum should remain in the PoW model. In a media podcast, he stated that the ETH was heading into uncharted territory. It could therefore turn out to be a catastrophic event given what happened to the "foundation of the crypto industry." However, Sun believes the transition to merge will work fine: "We can be 99% sure it will be a good start". Technical Market Outlook: The ETH/USD pair has been seen trading at the level of $1,785, which is above the 100% Fibonacci projection located at $1,753. The rally had ended with a Pin Bar candlestick pattern on the H4 time frame chart, so a pull-back towards the technical support seen at the level of $1,722 was done. The momentum is coming off the extremely overbought conditions, but is still strong and positive, so the outlook remains bullish for ETH on the short-term time frames. The next target for bulls is located at the level of $1,819 and $1,825. Weekly Pivot Points: WR3 - $1,875 WR2 - $1,807 WR1 - $1,765 Weekly Pivot - $1,738 WS1 - $1,697 WS2 - $1,670 WS3 - $1,601 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.9 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade       Relevance up to 09:00 2022-09-13 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292309

Summary:  Ukrainian success in taking back significant territory from Russia over the weekend has driven a cautious further recovery in the euro and sterling at the open of trade this week. Elsewhere, yields have jumped higher, helping drive new yen weakness and taming risk sentiment as the US 10-year treasury benchmark trades near the cycle highs since June. Focus this week is on tomorrow's US August CPI release, the most important data point ahead of next week’s FOMC meeting.   What is our trading focus? Nasdaq 100 (USNAS100.I) and S&P 500 (US500.I) US equities Friday on a strong note up 1.5% and S&P 500 futures have extended their gains overnight touching the 4,100 level because before receding to around the 4,085 level in early European trading hours. The US 10-year yield continues to move higher trading at 3.34% and if it sets a new high for the recent cycle it will probably cause headwinds for US equities so watch the US bond market. Next big macro event is tomorrow’s US August CPI report which is expected to print –0.1% m/m suggesting inflation is beginning to cool. Hong Kong’s Hang Seng (HSIU2) and China’s CSI300 (03188:xhkg) Hong Kong, Shanghai, and Shenzhen are closed today for the mid-autumn festival holiday. Last Friday, Hang Seng Index soared 2.7%, snapping a six-day losing streak following China’s August inflation data surprising to the downside and raising hope for more monetary easing to come from the Chinese policymakers. Chinese property names rallied on market chatters about unconfirmed stimulus measures from policymakers to boost the ailing property sector. Ahead of the mid-autumn festival, catering stocks gained. CSI 300 climbed 1.4%, led by property, dental services, infrastructure, and digital currency.  Northbound inflows into A-shares reached USD2.1billion equivalent last Friday, the largest inflow in a single day since the beginning of the year. Ukrainian success on the battlefield drives EUR and GBP strength The surprise offensive and the re-capture of a key transport hub in the northeastern sector of the front after recent focus on operations in the south caught the market by surprise and has seen the euro and sterling rebounding versus the US dollar in early trading this week, with EURUSD trading to new local highs well clear of 1.0100 briefly overnight before edging back lower. Likewise, GBPUSD pulled north of 1.1650 before treading water back toward 1.1600. It will take some time and further developments to assess whether Ukraine can capitalize on its gains and this in turn triggers a new stance from Russia on its energy policy. JPY crosses back higher as yields rise The USDJPY correction on Friday inspired by somewhat stern language from Bank of Japan Governor Kuroda has mostly faded, as USDJPY bobs back above 143.00 overnight on US treasury yields challenging cycle highs. EURJPY pulled back close to the cycle high well above 144.00 overnight on hopes that the war in Ukraine is turning in the Ukrainians favour. New highs in USDJPY may bring more two-way volatility again if Japanese officialdom backs up its concern on the situation with market intervention (buying JPY). Crude oil (CLV2 & LCOX2) Crude oil starts the week in defensive mode with the focus staying with demand concerns amid continued lockdowns in China hurting demand from the world's top importer and a rapid succession of interest rates from major central banks negatively impacting the global economic outlook. Into the mix a US-backed plan to cap prices on Russian oil sales from December 5, a stranded Iran nuclear deal, strong demand for fuel products such as diesel at the expense of punitively high gas prices and a softer dollar. In addition, the collapse of Russian defenses in Ukraine and the response from Moscow will be watched closely. Monthly oil market reports from OPEC tomorrow and IEA on Wednesday should provide some further guidance on the supply/demand outlook. Brent’s current range: $92.75 and $87.25 US Treasuries (TLT, IEF) The 10-year US Treasury benchmark edged higher toward the local range high north of 3.3% overnight, with only the June peak at 3.50% remaining as the focus to the upside (this was the highest yield for the cycle since early 2011 and the run higher in yields in June coincided with the major low of the equity bear market this year. Tomorrow’s US August CPI number is the next key test for sentiment and yield direction, while the US Treasury will also auction both 3-year and 10-year treasury notes today and will auction 30-year t-bonds tomorrow. What is going on? France’s manufacturing production contracted in July According to the latest estimate released by the French Institute of National Statistics (INSEE), the manufacturing production decreased by a stunning 1.6 % month-over-month in July. It remains in expansion on a yearly basis (+0.2 %). Without much surprise, the drop is mostly explained by higher prices, especially higher energy prices. The INSEE does not forecast a recession in France this year. Nonetheless, growth is likely to decelerate very sharply in the coming quarters. The institute forecasts that growth will be around 0.2 % in Q3 and will be stagnant in Q4 2022. India’s rice export ban risk aggravating global food crisis After a ban on wheat exports earlier this year, India has now announced restrictions on rice exports, aggravating concerns of a global food crisis. Bloomberg reported India imposed a 20% duty on white and brown rice exports and banned shipments of broke rice. The new curbs apply to about 60% of India's rice exports and go into effect Friday. India’s rice output has been depressed due to the severe heatwaves, but also possibly to cap domestic price pressures. If these measures are duplicated by other key rice exporting countries like Thailand and Vietnam, there could potentially be a severe grain shortage globally, especially weighing on poor rice importing nations. We continue to see a threat of climate change to global agricultural output, which along with a prolonged energy crisis, suggested price pressure will stay in the medium-to-long term despite some cooling off from the recent highs. European carbon price drops as EU considers sale of permits from reserves The December ECX emissions contract (EMISSIONSDEC22) has fallen by around one-third since hitting a record high last month above €99 per tons. Given the current energy crisis, EU energy ministers are moving towards a deal to sell surplus permits from its Market Stability Reserve (MSR) in order to support a reduction in the cost of producing power and heating within the region. Power producers need to buy carbon permits to offset the polluting impact of using coal and gas over renewables. Occidental Petroleum shares rise on Berkshire accumulation In a filing on Friday, Berkshire Hathaway announced that it has lifted its stake to 26.8% in Occidental Petroleum. The move comes after the investment firm got regulatory approval for increasing the stake to over 50%. Berkshire’s move in Occidental Petroleum shares is seen as a move of confidence in the oil and gas industry as a much-needed industry for bridging the gap during the green transformation. Semiconductors are in focus as the US is expected to announce more curbs on exports The US Commerce Department is expected to publish new regulations curbing exports of semiconductors to China with companies such as KLA, Lam Research, and Applied Materials likely being impacted by the upcoming regulation. The move by the US further confirms the deglobalisation under the rule of self-reliance applied by increasingly more countries. China’s medium to long-term corporate loans picked up in growth  Over the past months, Chinese policymakers instructed policy banks and gave window guidance to commercial banks to extend credits to support infrastructure construction and key industries of the economy. Some results showed up in the August loan data which recorded a growth of 16% m/m annualized in the outstanding medium to long-term loans to the corporate sector. The amount of new medium to long-term loans to corporate was RMB 735bn in August versus RMB 346bn in July and RMB 522bn in August 2021. Loans to households remained sluggish. PBoC issues a list of 19 systemically important banks The People’s Bank of China and the China Banking and Insurance Regulatory Commission issued a list of 19 systematically important banks.  These 19 banks will face between 0.25% and 1% higher minimum capital requirements and additional leverage requirements. They are also asked to prepare contingency plans for major risk events. These 19 banks are Industrial and Commercial Bank of China, Bank of China, China Construction Bank, Agricultural Bank of China, China Minsheng Bank, China Everbright Bank, Ping An Bank, Hua Xia Bank, Ningbo Bank, China Guangfa Bank, Jiangsu Bank, Bank of Shanghai, Bank of Beijing; China CITIC Bank, China Postal Savings Bank, Shanghai Pudong Development Bank, Bank of Communications, China Merchants Bank, and Industrial Bank. The CPC is set to amend the party constitution at its upcoming national congress The Political Bureau of CPC Central Committee said in a readout last Friday that the Communist Party of China (CPC) is set to “work out an amendment to the Party Constitution that facilitates the innovative development of Party theories and practices and meets the need of advancing the great new project of Party building in the new era” at the CCP’s national congress to convene starting on October 16.  It further elaborates that “the latest adaption of Marxism to China's context and new circumstances will be fully epitomized and so will the new ideas, new thinking and new strategies of governance developed by the CPC Central Committee since the Party's 19th National Congress in 2017. What are we watching next? The Bank of England (BoE) will need to go big on 22 September The meeting initially scheduled for this week is postponed following the Queen Elizabeth II. Last week, both the Bank of Canada and the European Central Bank hiked their benchmark interest rate by 75 basis points. All eyes are turning to the BoE now. Pressure is mounting for the BoE to go big this week – meaning a 75-basis points hike. In August, the central bank hiked rates by 50 basis points to 1.75 %. Despite prime minister Liz Truss’s new anti-inflation plan (which will likely lower the peak in inflation), we think the BoE will need to show its commitment to fight inflation. The Bank forecasts that UK CPI will increase to 13.3 % year-over-year in Q4 2022. But the peak in inflation is only expected in 2023. This means that the cost of living will continue increasing in the short term, anyhow. Fed speakers stay hawkish before the blackout period begins and ahead of US CPI release tomorrow Fed rate hike expectations have picked up strongly since Jackson Hole, and we have heard an extremely unanimous voice from the Fed speakers since then. Some of them have clearly made the case for a 75bps rate hike in September, with Bullard on Friday even saying that Tuesday’s CPI report is unlikely to alter the incoming 75bps rate hike in September. Governor Waller leaned hawkish as well, but did not specify the size for September’s decision, but a “significant” hike still points to that. Esther George stayed away from guiding for individual meetings but made the case for sustained rate hikes. Ethereum merge The second-largest cryptocurrency, Ethereum, is scheduled to undergo a major upgrade this week (estimated on Thursday) which, if successful, will fundamentally change the way the cryptocurrency is working. It will go from the computationally intensive proof-of-work consensus to the more energy-friendly proof-of-stake, as well as introducing a mechanism to limit the inflation in Ethereum. The crypto community is looking very much forward to this upgrade, although some are concerned about the security in the new framework. Earnings to watch Today’s key earnings release is Oracle which a better-than-expected earnings result on 13 June surprising the market on EPS by 12% as the legacy database and software maker is gaining momentum in its cloud offering. Analysts expect FY23 Q3 (ending 31 August) revenue growth to accelerate to 18% y/y, which includes its recent acquisition of Cerner in the health care sector, which is impressive for the previously low growth company despite some of the growth being driven by acquisitions. If the outlook remains strong a longer-term repricing of the company’s valuation could be in the making. Today: Oracle Tuesday: DiDi Global Wednesday: Inditex Thursday: Polestar Automotive, Adobe Economic calendar highlights for today (times GMT) 0730 – ECB's Guindos to speak 0800 – Switzerland Weekly SNB Sight Deposits 1200 – ECB’s Schnabel to speak 1530 – US 3-year Treasury auction 1700 – US 10-year Treasury auction 2100 – New Zealand Aug. REINZ House Sales 0030 – Australia Sep. Westpac Consumer Confidence 0130 – Australia Aug. NAB Business Conditions/Confidence Follow SaxoStrats on the daily Saxo Markets Call on your favorite podcast app: Apple  Spotify PodBean engraver Source: https://www.home.saxo/content/articles/macro/market-quick-take-sep-12-2022-12092022

Crypto Industry News: Norway's Central Bank has reached a milestone in its digital currency effort by releasing open source code for the Central Bank's Digital Currency Sandbox (CBDC). The sandbox available on GitHub is designed to offer an interface for interacting with the test network, enabling functions such as knocking out, burning and transferring ERC-20 tokens, according to the official partner of Norges Bank at CBDC, Nahma. Nahmii emphasized that the current version of the code does not support the main Ethereum MetaMask wallet and is only available privately to users with appropriate credentials. In addition to implementing appropriate smart contracts and access controls, Norges Bank's sandbox includes custom frontend and network monitoring tools such as BlockScout and Grafana. Nahmii noticed that the interface also shows a filterable summary of transactions on the web. Norges Bank announced on Twitter that the prototype CBDC infrastructure in Norway is based on Ethereum technology. The central bank referred to Ethereum in a blog post on CBDC back in May. Norges Bank said the Ethereum cryptocurrency system is expected to provide a "core infrastructure" for issuing, distributing and destroying central bank digital money, also known as DSPs. Technical Market Outlook: The ETH/USD pair has been seen pulling back from the 100% Fibonacci projection located at $1,753. The rally had ended with a Pin Bar candlestick pattern on the H4 time frame chart, so a pull-back towards the technical support seen at the level of $1,685 was done. The momentum is coming off the extremely overbought conditions to the level of fifty, so the outlook remains bullish for ETH on the short-term time frames. The next target for bulls is located at the level of $1,819 and $1,825. Weekly Pivot Points: WR3 - $1,875 WR2 - $1,807 WR1 - $1,765 Weekly Pivot - $1,738 WS1 - $1,697 WS2 - $1,670 WS3 - $1,601 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.9 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade       Relevance up to 08:00 2022-09-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292498

Technical outlook: Ethereum pushed through the $1,790 highs over the weekend, rallying over 350 points from its recent swing low at around $1,423. The crypto might have completed a corrective rally and hit resistance just below $1,800. Also, note that the Fibonacci 0.618 retracement of the bearish drop is seen around $1,805, hence the token will face strong resistance if prices manage to reach there. Ethereum had earlier dropped from the $2,031 highs through the $1,423 lows, carving a meaningful downswing as seen on the 4H chart here. A pullback rally was expected thereafter, which could potentially reach up to $1,750 and the $1,800-10 area before prices turned lower again. The bulls have managed to produce a corrective wave and push prices up to about $1,800. The Ethereum bears might be keen to come back in control from here or after hitting $1,800-10 in the near term. Also, note that prices have tested the Elliott Channel resistance line from just below $1,800 and turned lower. The crypto is trading close to the resistance zone. A drag lower from here remains a high probability. Trading plan: Potential drop from the $1,750-1,800 zone against $2,050 Good luck! Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 13:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292573

Crypto Industry News: In an online interview, a security expert requesting anonymity explained that, unlike Proof-of-Work (PoW) based systems, systems based on Proof-of-Stake (PoS) inform the node validators in advance which blocks they will check, thus enabling them to plan attacks. The cybersecurity expert quoted by the portal is a blockchain developer working on a second layer PoS blockchain. The researcher explained that an exploit could theoretically be more easily exploited in the post-merge chain on the Ethereum network (any unethical or illegal attack that exploits vulnerabilities in an application, network or hardware. Typically an attack is carried out using software or code trying to take control of the system or steal data stored in the network): "If you control two consecutive blocks, you can run an exploit on block N and end it on block N + 1. (...). From an economic security point of view [this vulnerability] makes these attacks relatively easier to carry out." - he said. The expert said that while miners could also check two more blocks on PoW networks, it comes down to "pure luck" and does not give them time to plan an attack. However, he reassured ETH investors by saying: "PoS [still] has sufficient practical security [and] it doesn't really matter that in theory it is not as secure as PoW. It's still a very secure system," he added. In addition, "PoS security will [continue] to increase", as Ethereum developers are working on solutions that will mitigate the above-mentioned threat. The Merge on the Ethereum network is set to take place on September 15 at 2:30 UTC time (according to Blocknative's Ethereum Merge Countdown). The switch to PoS is expected to make the Ethereum network much less energy-intensive. Technical Market Outlook: The ETH/USD pair had reversed from the level of $1,785 aggressively and drop towards the level of $1,552. In this situation, the levels of $1,689 and $1,722 will now act as the technical resistance for bulls. The next target for bears is seen at the level of $1,513 and $1,473. Please notice, the momentum is very weak and negative and the market conditions are now extremely oversold, so an intraday bounce is expected. Weekly Pivot Points: WR3 - $1,875 WR2 - $1,807 WR1 - $1,765 Weekly Pivot - $1,738 WS1 - $1,697 WS2 - $1,670 WS3 - $1,601 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.9 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 08:00 2022-09-15 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292687

Norway's central bank has released the source code for its central bank digital currency (CBDC) sandbox based on Ethereum technology. The sandbox is available on GitHub and allows testing basic token management use cases, including minting, burning, and transferring ERC-20 tokens, the Norges Bank's official CBDC partner Nahmii said in a blog post. In addition to using the appropriate smart contracts and access control, the Norges Bank sandbox also includes custom frontend and network monitoring tools, like BlockScout and Grafana. According to Nahmii, the front end also shows a filterable summary of transactions on the network. Nahmii stressed that the current version of the code is only privately accessible by people with the necessary credentials. The official announcement about plans to conduct CBDC testing came from Norges Bank in April 2021, stating that it expected to find a preferred solution by trailing different designs for two years. In the working paper released on November 2021, the central bank mentioned possible CBDC designs, including those based on blockchains like Ethereum, Bitcoin, and Bitcoin SV.     Relevance up to 09:00 2022-09-17 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade Read more: https://www.instaforex.eu/forex_analysis/321664

Stock markets have stabilized a little after Tuesday’s rout which saw risk assets pummelled across the board. There appears to have been a tendency in recent months to front-run certain releases in the hope that it’s going to prove to be the “pivot” moment when everything starts to look up, central banks can ease off the brake and risk assets will have bottomed. That certainly looks to have been the case over the last week as investors were lured into a false sense of security following the July CPI release only to be brought back down to earth with a bang with the August report. Unfortunately, 2022 has delivered some harsh truths when it comes to inflation and yesterday was the latest in that series. The run-up to the peak was far more aggressive and severe than anyone anticipated and, it would appear, the move back towards 2% is not going to be easy either. Markets are now fully pricing in at least a 75 basis point rate hike next week and almost a 40% chance of it being 100, a far cry from the 50 investors were hoping to see following that CPI data. Not only that, the policy rate is expected to peak at 4.25-4.5% early next year and if the data doesn’t improve soon, that will increase further. Despite the economy’s resilience to this point, a recession may still be on the cards as the tightening cycle potentially pushes it over the edge. BoE seen hiking by 75bps even as inflation eases UK inflation is back into single digits, with the headline rate falling back to 9.9% last month. That’s not exactly cause for celebration, nor is it likely the peak, but you have to take your wins where you can these days. And as we’ve already learned once this week, nasty inflation surprises are not yet a thing of the past, with the UK looking more susceptible to them than most. The data also won’t in all likelihood change the outcome of the BoE meeting next week, with 75 basis points now heavily backed but 50 also possible. The UK still has a major inflation problem and the central bank has a lot of catching up to do after dragging its feet for much of the year so far. A lot of talk and a little bit of action The FX intervention warnings are coming thick and fast since the release of the US CPI data on Tuesday, which saw the dollar surge and come within a whisker of 145 to the yen. The move reportedly prompted the BoJ to conduct a rate check overnight, widely seen as a precursor to intervening in the markets for the first time since 1998. Since then, the USDJPY pair has fallen well back towards 143 and we’ve been flooded with warnings of urgency and willingness to act. The line in the sand has been drawn and speculators may now feel that 145 is viewed in Japan as a step too far. With the Fed and BoJ meeting in the middle of next week – among many others – it promises to be a fascinating seven days. PBOC desperately trying to support the yuan It’s not just Japan that’s fretting about the weakness of its currency, the PBOC set the yuan fix at its strongest bias on record versus expectations. The move is the latest in a series of attempts to stabilise the currency against fierce headwinds while at the same time attempting to ease financial conditions at home. The road ahead is full of potholes for the world’s second-largest economy and confidence is continuing to deteriorate. Will the Ethereum Merge support crypto prices? Bitcoin was probably at the top of the list of instruments that got carried away at the prospect of fewer rate hikes ahead of the CPI data and it, therefore, got hit the hardest when the number dropped. Of course, there are other things happening in the crypto space right now with a huge focus on the imminent Ethereum Merge, with some suggesting that may have contributed to the rebound we’ve seen. Of course, that could equally compound the sell-off if it becomes a “buy the rumour, sell the fact” event. Time will tell. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. A harsh lesson - MarketPulseMarketPulse

Crypto Industry News: The Opera Crypto browser, a special version of the popular Opera, has added support for crypto wallets such as MetaMask. All thanks to the Wallet Selector function. The Norwegian software company behind Opera intends to increase the usability of the Opera Crypto version for the Web3 application. Exchanges: Gate.io In January this year. The beta version of Opera Crypto appeared, and the company explained that it wanted to meet the growing interest of users who expect browsers to support the web3. Before Wallet Selector was introduced, the browser only supported the wallet built directly into the application. Now that is changing and it will be possible to pin third-party digital wallets with the latest feature. Wallet Selector in Opera Crypto will allow you to install extensions to your preferred crypto wallets - primarily to the most popular MetaMask, which is necessary if you use, for example, decentralized exchanges. The latest feature only extends the capabilities of the Opera Crypto browser. Currently, its users can count on e.g. Crypto Corner, a news hub with news from the world of cryptocurrencies, support for numerous dApp applications (decentralized) and convenient switching between wallets. The company emphasizes that Opera Crypto allows you to log into the dApp application without installing any extensions, and its own Opera Wallet wallet supports ETH, ERC-20 and ERC-721 tokens, as well as other blockchains. Technical Market Outlook: The ETH/USD pair has been seen trying to bounce after the drop to the level of $1,552. The market is still trading inside the ascending channel, so in this situation, the levels of $1,649, $1,689 and $1,722 will now act as the technical resistance for bulls. The next target for bears is seen at the level of $1,513 and $1,473. Please notice, the momentum is very weak and negative and the market conditions are now extremely oversold, so an intraday bounce is expected. Weekly Pivot Points: WR3 - $1,875 WR2 - $1,807 WR1 - $1,765 Weekly Pivot - $1,738 WS1 - $1,697 WS2 - $1,670 WS3 - $1,601 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.9 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 08:00 2022-09-16 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292870

US equities eked out small gains yesterday as dip buyers timidly came in, but risks remain tilted to the downside with the disappointing inflation figures, and the risk of the largest rail strike in the US since 1992. Crude Oil Prices Released yesterday, the US producer price data didn’t enchant investors. The headline figure fell for the second consecutive month but the core PPI strengthened, hinting that most of the easing in producer inflation was due to cheaper energy prices – which however remain very volatile, and which, more importantly carries a decent upside risk. The barrel of American crude flirted with the $90 mark yesterday, without however being able to clear resistance at this level. Energy companies gained despite news that Europeans are looking to raise $140 billion euros from energy companies to help households and businesses survive through winter. The situation on the stock market The S&P500 recover a part of losses yesterday, as Nasdaq gained 0.84%. But the risks remain clearly tilted to the downside. The US dollar remains relatively strong near the 20-year highs, the EURUSD consolidates below parity as gold slipped back below $1700 per ounce. The USDJPY retreated on expectation that the Bank of Japan (BoJ) could intervene to stop the yen’s depreciation. Ethereum trades around $1600 as Merger Upgrade is now imminent! Watch the full episode to find out more! 0:00 Intro0:24 Dip buyers return to a risky market2:31 US crude flirts with $90pb3:41 US rail strike risk weighs on sentiment4:55 Energy stocks rally despite EU measures to cope with crisis7:07 Gold under pressure7:50 BoJ could intervene to strengthen the yen8:52 Ethereum Merges today! Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #US #PPI #inflation #rail #strike #USD #EUR #JPY #BoJ #rate #check #Gold #XAU #crude #oil #BP #XOM #Chevron #Coterra #windfall #taxes #energy #crisis #Bitcoin #Ethereum #Merge #update #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH

Bitcoin won't give up $20K Bitcoin has lost 1.2% in the last 24 hours, trading at $20.1K. The plunge below a meaningful round level late Wednesday afternoon did not last long. Ethereum pulled down 0.3% to $1610 while the crypto community awaits the market's reaction to The Merge (move to PoS algorithm). We can describe sentiment across the crypto market as a cautious wait-and-see. Short-term Bitcoin momentum indicates that sellers wanted to swing the market at the end of the day yesterday and snap stop orders, taking advantage of a period of reduced liquidity on Wednesday. As we see, it failed, and BTCUSD returned precisely to where it started its local decline. However, the balance of power is now on the bears' side, as the global risk demand is suppressed, and critical technical levels (50- and 200-day MA, 200-week MA) are above the price. Read next: GDP Growth In New Zealand. Australia Unemployment Rate And Waiting For Initial Jobless Claims Report| FXMAG.COM News background Major US companies Charles Schwab, Citadel and Fidelity have announced the launch of digital asset exchange EDX Markets (EDXM), which will be available to retail and institutional investors. Another recalculation resulted in a 3.45% increase in bitcoin mining complexity to 32.05 trillion hashes, the highest in the network's history. Network service provider Cloudflare announced that its gateways support the upcoming transition of the Ethereum network to the Proof-of-Stake (PoS) consensus algorithm on September 15. Bloomberg Intelligence expert Mike McGlone believes the crypto market will begin a bullish trend after The Merge update. In his opinion, ETH's move to PoS will have a revolutionary impact on cryptocurrencies and the entire financial system. Changpeng Zhao, chief executive of cryptocurrency exchange Binance, said the EU's crypto-asset regulation principles could become the global standard for the entire industry.

Summary:  This morning the second-largest cryptocurrency Ethereum successfully underwent its merge from proof-of-work to proof-of-stake. From consuming around 0.2% of the world’s electricity, Ethereum now consumes a fraction of that. This morning at around 06:44 AM UTC, the second-largest cryptocurrency Ethereum successfully underwent its merge. The shift from proof-of-work to proof-of-stake has fundamentally changed the way Ethereum validates transactions on its blockchain. Instead of massive computational power known as mining, the holders of Ether can verify Ethereum-based transactions by becoming a staker. Proof-of-stake consumes around 99.95% less energy compared to proof-of-work, which consumed the same amount of electricity as the whole country of Chile or equal to 0.2% of the total electricity consumption globally. As stakers are rewarded in newly issued crypto, the lower amount of required energy allows a lower issuance of new Ether, thereby minimizing the dilution of existing Ether holders. You can read more about the Ethereum merge from one of our earlier analysis to be found here. A new chapter not only for Ethereum but crypto in general In our view, Ethereum’s merge is one of the most influential events since the genesis block of Bitcoin in January 2009. It is a first for a cryptocurrency of that size to change its consensus framework. This was done without disrupting the network, which secures over $410bn of value across its own native crypto, stablecoins, tokens, and non-fungible tokens (NFTs). For the past years, the discussion of whether it is appropriate for proof-of-work to consume so much electricity has constantly intensified. Today, Ethereum steers away from this discussion once and for all, while it leaves Bitcoin in the dust. The latter consumes around 0.42% of the total electricity consumption globally equal to the country of Kazakhstan, so while this discussion is no longer valid for Ethereum, it is as valid for Bitcoin as it has ever been. Yet, although Ethereum’s successful merge stresses that it is possible to ditch proof-of-work for good, there is no plan for Bitcoin to adopt a proof-of-stake framework. Can Ethereum prove unbroken stability? Although Ethereum’s developers have worked for years to prepare its transition towards proof-of-stake, the latter has not yet proved long-term consistency in terms of decentralization and resistance under authentic conditions. The only way to adequately do this is without having severe issues in production under various distinct market conditions. This can only be sufficiently proven as time passes and that clock starts counting today. This is not a sprint but a marathon. Only time will tell whether Ethereum’s proof-of-stake framework can demonstrate stability in line with its former but mature proof-of-work framework.   Source: https://www.home.saxo/content/articles/cryptocurrencies/ethereum-merge-post-15092022

ccording to market expectations, the transition of Ethereum from Proof-of-work to Proof-of-stake should take place today. Some say that this may lead to the fact that the second cryptocurrency will begin to take market share from BTC. Famous Bitcoin supporters have criticized the update and urge those who prefer the main cryptocurrency to prepare for war. Michael Saylor Criticizes "Misinformation" About BTC Energy Uses MicroStrategy Executive Chairman Michael Saylor argues that bitcoin mining can become a clean, profitable, and modern industry that generates hard currency for remote places in the developing world. Ahead of Ethereum's transition to proof-of-stake, Saylor spoke out against what he calls "misinformation and propaganda" about the environmental impact surrounding proof-of-work (PoW) BTC mining. On September 14, he shared a lengthy post on his Twitter account detailing his seven "high-level thoughts" on BTC mining and its impact on the environment. One of his key arguments was against PoW BTC mining being energy efficient. Instead, Saylor claims it is "the cleanest industrial use of electricity and is improving its energy efficiency at the fastest rate in any major industry." He backed up his argument with numbers taken from the Global Bitcoin Data Mining Review for the second quarter. The one was published in July by the Bitcoin Mining Council, a group of 45 companies that claim to represent 50.5% of the global network. Saylor emphasized: "Our metrics show ~59.5% of energy for bitcoin mining comes from sustainable sources and energy efficiency improved 46% YoY." An attempt to distract the authorities from the "inconvenient truth" Saylor's argument comes from the fact that the BTC mining industry has come under a lot of pressure due to its perceived environmental impact. This has even led some US states to take steps to ban cryptocurrency mining. Saylor claims that the continuous improvement of the network and the "relentless improvement in the semiconductors" make mining much more energy efficient than big tech companies like Google, Netflix or Facebook. "Approximately $4-5 billion in electricity is used to power & secure a network that is worth $420 billion as of today," Saylor said. "This makes Bitcoin far less energy intensive than Google, Netflix, or Facebook, and 1-2 orders of magnitude less energy intensive than traditional 20th century industries like airlines, logistics, retail, hospitality, and agriculture." Saylor also stated that 99.92% of the world's carbon emissions come from industrial uses of energy other than bitcoin mining. Looking at the numbers, Saylor doesn't think environmentalists' arguments condemning PoW mining are fair. Rather, in his opinion, this is an attempt to "focus negative attention on Proof-of-Work mining" and distract authorities from the "inconvenient truth that Proof-of-Stake crypto assets are generally unregistered securities trading on unregulated exchanges." Saylor concludes by saying that all the negativity about PoW mining is detracting from the potential benefits for the world. "Bitcoin mining can bring a clean, profitable and modern industry that generates hard currency to remote locations in the developing world, connected only via satellite link." Jack Dorsey Questions Ethereum Merge Twitter co-founder Jack Dorsey also chose his side in the Bitcoin vs. Ethereum debate. Dorsey, a well-known supporter of the main cryptocurrency, questions the Ethereum merge. On Twitter, he posted a popular post by another popular Bitcoin maximalist, Scott Sullivan. In the very first line, Sullivan calls Ethereum a shitcoin and asks Bitcoin supporters to prepare for war. Sullivan believes that after the Ethereum merger, a narrative war will begin between Bitcoin and Ethereum. Sullivan believes that bitcoiners should be prepared to fight back in the event of such a war. While Sullivan's post is now a month old, Dorsey's timing is definitely surprising. What is the problem with the Ethereum merge? The Ethereum merge will change the Ethereum consensus mechanism from Proof-of-work to Proof-of-stake. Proof-of-Work, which is the consensus mechanism used by the top cryptocurrency, is considered to be extremely energy intensive. A recent White House report went so far as to consider a total ban on BTC mining. The Proof-of-stake model reduces PoW power consumption by 99%. However, Dorsey and Sullivan have serious questions about this model. Sullivan believes that PoS is based on the principle of disincentives. PoS cuts staked funds from validators in case of dishonest behavior. He also has claims that PoS is a permissionless system without rules that relies on subjective truth. He also believes that in PoS, money is power and the threat of centralization is a real problem. Sullivan and Dorsey point to OFAC's censorship of Tornado Cash as one such example. On the other hand, they believe that a PoW system is the answer that solves PoS problems. Dorsey is at odds with several influential figures because he believes Proof-of-work is the only correct system. Right now, Bitcoin dominance is at its lowest level in a very long time. Ethereum supporters believe that the second cryptocurrency has the potential to bypass Bitcoin after the merge. Dorsey's comments indicate that there is likely to be a major redistribution of power between the two largest cryptocurrencies. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 2022-09-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321778

While the whole world is discussing the Ethereum Merge update, it is important to finally deal with the consequences of slowing down the rate of decline in the inflation rate. CPI reporting had a negative impact on the crypto market and caused a reduction in total capitalization to the level of $998 billion. However, this is only an impulsive reaction of investors to bad news. The consequences of this process in the medium term may be more disastrous. Inflation, the position of the Fed and the crypto market In the summer, Fed Chairman Jerome Powell said that the agency was changing its strategy for raising the key rate. The regulator abandoned the predictive indicator planning model and decided to focus on actual data. The Fed also said that it plans to end the current year with a neutral rate. Powell's statements removed the element of surprise, made Fed policy more transparent and gave investors hope. Markets took the theses of the head of the Fed as a transitional moment to the gradual easing of monetary policy. The peak of such sentiments occurred at the beginning of August, when the inflation rate fell above expectations. A glimmer of hope amid the endless fog of the liquidity crisis provoked other positive rumors. One of the initiators of the positive statements was Arthur Hayes, who believes that as we approach the November Senate elections, the markets will pump up the money supply. The slowdown in the rate of decline in the inflation rate put a bold dot on the likelihood of a change or easing of the Fed's current policy. After the publication of the CPI for August, an increase in the key rate by 75 basis points in September is a settled issue. In addition, the current order of movement of the price of Bitcoin and other financial instruments remains. New Rules for Bitcoin Price Movement Insufficient rates of inflation reduction are forcing the Fed to maintain the current level of influence on world markets. The withdrawal of liquidity and the increase in the key rate to strengthen the USD will continue. Considering this index, DXY remains the main financial instrument for the coming months. Bitcoin continues to maintain a close correlation with stock indices. Considering the macroeconomic situation, high-risk assets remain a single category of low-value investments at this stage. It follows that with active trading of BTC/USD, other cryptocurrencies and stock indices, the rule of mandatory DXY analysis remains. With a high degree of probability, when the US dollar index rises, Bitcoin and other cryptocurrencies go down or move flat. The publication of CPI reports caused opposite reactions from BTC and DXY. The inverse correlation of the two assets is obvious and should be a key element of active BTC/USD trading. BTC/USD Technical analysis Bitcoin managed to hold on to the $20.1k–$20.2k support area. The cryptocurrency successfully defended the $19.1k line following the results of yesterday's trading day, and moved to the stage of consolidation. In the coming days, we should expect a stabilization movement in the BTC/USD price without significant impulse movements. Technical metrics confirm this scenario. On the daily chart, the RSI index and the stochastic oscillator made a sharp reversal to the side. The MACD indicator has also completed an upward spurt and started moving in a flat direction. The publication of the CPI had a significant negative impact in both the short and medium term. Given the successful upgrade of Ethereum, we can soon expect a decrease in investment activity and a drop in the level of Bitcoin dominance. The main focus of the market will be on the altcoin, which may cause BTC to be undervalued. Demand and scarcity After a short consolidation, Bitcoin may resume its upward movement due to its growing scarcity in the market. Long-term investors continue to actively buy up BTC coins, reducing their volumes in the public domain. In addition, Bitcoin mining difficulty peaked at 32.045 trillion hashes. This means that mining a BTC block has never been so difficult. Accordingly, in the coming weeks, we can expect a local upward movement of Bitcoin to the $24k–$25k area due to its underestimation and growing scarcity. Medium-term prospects for Bitcoin Despite the rising inflation, the situation will begin to improve closer to winter. Most likely, the reason for this will be a significant reduction in liquidity and the aggravation of recession in the US economy. The combination of these factors will force the Fed to resume filling the markets with money, which will positively affect Bitcoin. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 10:00 2022-09-16 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321796

On Thursday, financial markets seem to be characterized by less volatility than in the first half of the week. Investors may continue to delve into the Fed's latest actions after the latest inflation reading from the U.S. and ponder how any rate hikes could affect stock, bond, dollar or cryptocurrency quotes. Situation in the markets and mixed data from the Antipodes This morning, the DAX was up 0.17 percent at 6:52 a.m. CET, while the CAC 40 was unchanged from its previous day's position at the same time. The FTSE 100 rose 0.49 percent. The euro fell 0.13 percent against the dollar to 0.99680 at 7:06 a.m. CET, while the pound lost 0.17 percent against the U.S. dollar to 1.15204. From macroeconomic data overnight, we learned that unemployment in Australia unexpectedly rose to 3.5 percent in August from 3.4 percent, the first increase in 10 months. This result may support the Reserve Bank of Australia's earlier signal of a potential move to smaller interest rate hikes. New Zealand's economy, on the other hand, grew more than expected in the second quarter (0.4 percent year-on-year), avoiding recession after a surge in Covid-19 cases caused the economy to contract in the first three months of the year. Read next: China May Need Less Crude Oil - IEA Report Finds. The European Union Considers Limitations On Power Demand| FXMAG.COM Source: Conotoxia MT5, AUDUSD, D1 The Ethereum Merge The world's two largest cryptocurrencies, bitcoin (BTC) and ether (ETH), fell on Thursday after the ethereum exchange rate earlier posted an intraday gain of more than 4 percent. This time, the second-largest cryptocurrency fell more than 2 percent, with the entire cryptocurrency community expecting a transition to a proof-of-stake model with proof-of-work (known as The Merge) to take place in the next few hours, BBH reported. The years-long, system-wide upgrade of the ethereum blockchain will mark one of the most historic events in the cryptocurrency sector, according to CNBC. Katie Talati, head of research at asset management firm Arca, said in an interview with CNBC: "we believe that after The Merge Eth bullish sentiment towards ethereum will be much stronger for a number of reasons." The main factor is expected to be a decrease in supply, which will make ETH a more scarce and harder-to-access token, which could translate into price, Talati added. Source: Conotoxia MT5, ETH/USD, D1 Merge ETH, and what's next for BTC? From the point of view of the chart of the world's largest cryptocurrency, the price of BTC remains in a fluctuating range between $18343 - $25016. In addition, in recent times, the BTC/USD exchange rate may be capped by the trend line drawn after previous peaks. It seems that only overcoming this place could be more favorable for the bulls. In turn, overcoming the support could open the way towards $12582. Source: Conotoxia MT5, BTC/USD, W1 Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. Read article on Conotoxia.com

Technical outlook: Ethereum rose through the $1,654 intraday high on Thursday before pulling back sharply through $1,580. The crypto is again gaining ground. It is seen to be trading close to $1,595 at this point in writing. A push above $1,654 will open the door for a further advance as the bulls target the $1,800-10 zone in the next few trading sessions. Ethereum has already carved a meaningful larger-degree downswing between $2,031 and $1,423 as seen on the 4H chart. Furthermore, the counter-trend rally remained just shy of the Fibonacci 0.618 retracement seen around the $1,800-10 zone. The possibility remains for yet another attempt to test the $1,800 handle and also up to $1,900 before giving in to the bears. Ethereum might turn bullish from the current price action until $1,423 and $1,480 interim supports are in place. Prices have retraced from $1,790 through $1,560 in a corrective way and have found support around the Fibonacci 0.618 retracement of the previous rally between $1,480 and $1,790. A push above $1,675 will potentially confirm a test of the $1,800 handle. Trading plan: A potential rally back towards $1,800-10 against $1,423 Good luck!   Relevance up to 13:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292959

Stock markets are a bit mixed on Thursday following a rollercoaster week in the run-up to, and aftermath of, the US inflation report. Safe to say, investors got ahead of themselves in a desperate attempt to board the peak inflation train early. The collapse on Tuesday – carrying into Wednesday in Asia and Europe – looked quite severe on the face of it but it was simply an unwinding of positions built on the anticipation of a good set of numbers in the days leading up to it. While the Fed is now almost certain to hike by 75 basis points next week and more in the months that follow than previously anticipated, the view still seems to be that Tuesday was a setback rather than a game changer. Confidence that we are at or near peak inflation is dented but not broken and this week serves as a reminder that as was the case on the way up, the path back to 2% will likely be littered with nasty surprises. RBA will likely welcome labour market report This will likely be the case for most central banks, not just the Fed, with the RBA seen to be in the early stages of its pivot towards slower tightening. After hiking rates by 50bps, markets are now pricing in a 25bps hike next month although as we’ve seen so often this year, that could quickly change with the data. The labour market figures today could support such a move, as employment rose a little less than expected while participation also rose, unexpectedly lifting the unemployment rate to 3.5%. The Aussie dollar rose after the release but has since given the bulk of that back. PBOC leaves MLF unchanged and supports CNY The PBOC’s battle to support the yuan continued on Thursday as it left the 1-year MLF rate unchanged at 2.75% and set a stronger fix on the currency. The result was around 200 billion yuan being withdrawn from the banking system, with the central bank stating that it would “keep banking system liquidity reasonably ample”. The dual threat of a slowing economy and tumbling currency against the dollar is posing quite the challenge for the central bank which is continuing to try and push back against both, with limited success. Yen steady amid intervention warnings The yen remains a key focus after a slew of intervention commentary yesterday which accompanied reports of a rate check by the BoJ. While officials have been keen to state that no warning of intervention will be forthcoming, nor perhaps even confirmation of it, the line in the sand around 145 against the dollar appears to have been drawn. The message was loud and clear and now it’s just a case of whether markets will respect it. That’s not always the case and we could see its resolve tested after 24 years without such action. Will it be a “sell the fact” event? Bitcoin has stabilised once more around $20,000 after Tuesday’s bruising encounter with the US inflation data. As we saw elsewhere, the cryptocurrency had rallied in anticipation of something more favourable but it wasn’t to be. With that now behind us, the question will become how the crypto space reacts to the Ethereum Merge. It’s been a long time in the making and the question on traders’ lips right now is will it be the next bullish catalyst for cryptos or a “sell the fact” event. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Oil steady, gold vulnerable - MarketPulseMarketPulse

Crypto Industry News: Megadeth, pioneers of thrash metal, continue their adventure with Web3. They prepared "Rattleheads", a collection of digital art whose main theme is the group's mascot, Vic Rattlehead. Megadeth and NFT Produced by Five To One Collective in collaboration with Upper Echelon Studios, the collection is inspired by the band's long-time fan club, Cyber Army, and the mascot, Vicio Rattlehead, a ghoulish character that features on most of the band's album covers. The project is to be expanded with additional tools that will be revealed in the near future. Megadeth leader Dave Mustaine emphasized in his statement that his group has always been a pioneer - and not just in terms of art: "Our first album set the standard for thrash metal. We were the first band to have a website. The Cyber Army Club was founded in 1994. Our 2016 album" Dystopia "featured VR descriptions. And now, as technology advances. Web3 and its ability to connect us directly with our fans - this moment is perfect for Megadeth. It is the ultimate bond with our community (...) "- he wrote. It is worth recalling that the band's first approach to the NFT market took place in 2021. Then the NFT project "Vic Rattlehead: Genesis" appeared on the market, containing the band's logo and its iconic mascot rotating in opposite directions for six seconds. Technical Market Outlook: The ETH/USD pair is trading out of the channel and the bearish pressure is still high. The market is slowly approaching the last mont's low seen at the level of $1,423. The levels of $1,513, $1,649, $1,689 and $1,722 will now act as the technical resistance for bulls. The next target for bears is seen at the level of $1,424 and below. Despite the extremely oversold market conditions on the H4 time frame chart, the momentum remains weak and negative, which might indicate the ETH is still in the short-term down trend. Weekly Pivot Points: WR3 - $1,875 WR2 - $1,807 WR1 - $1,765 Weekly Pivot - $1,738 WS1 - $1,697 WS2 - $1,670 WS3 - $1,601 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.9 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 2022-09-17 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293053

US railroad companies and the unions representing their workers reached a tentative agreement early Thursday to prevent a rail strike in the US. Avoiding a rail strike is good news, but not good enough to give a smile to investors. The markets remain too focused on inflation. Increases and decreases The S&P500 closed the session more than 1% lower, as US retail sales and jobless claims – which both hinted that the US economy remains relatively resilient to the Federal Reserve (Fed) rate hikes - didn’t help keeping the Fed hawks at bay. The US 2-year yield spiked to 3.90%, the mortgage rates in the US topped 6%, the US dollar consolidated a touch below the 110 level, Ethereum lost 10% and gold dived to $1660 per ounce. US crude took a good 4% dive. But this time, it wasn’t just the recession talk, it was because the Americans rectified a beginner’s mistake that they have made earlier this week, saying that they will refill their strategic oil reserves if prices fall below $80 per barrel. Waiting For Reports We will likely close this week on a sour note. Next on the economic calendar are the final European CPI read, which will confirm that inflation spiked to 9.1% in August, and the University of Michigan Consumer Sentiment, which will hopefully not print a significantly positive number, because the Fed hawks got strong enough the week before the Fed decision. Watch the full episode to find out more! 0:00 Intro 0:25 US rail strike will likely be avoided! 2:08 But sentiment remains sour on strong US data 3:57 World Bank points at recession 5:04 Crude oil down as Americans understand their mistake 6:41 Strong dollar weighs on major peers 6:55 Joke of the day 7:09 Ethereum down 10% post Merge upgrade 7:51 Adobe dives 17% on Figma acquisition 8:44 Watch EZ final CPI & UoM Consumer Sentiment today! Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #US #rail #strike #inflation #USD #EUR #GBP #Gold #XAU #crude #oil #natgas #energy #crisis #Bitcoin #Ethereum #Merge #update #Bitcoin #Adobe #Figma #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH

Market picture Bitcoin has lost 1.6% over the last 24 hours to $19,777 amid renewed pressure on risk-sensitive assets. BTC remains just under the critical $20K round level, where it got support for the past three months. Ethereum lost the speculative support it received before the move to PoS. Over the last day, Ether lost 8.6%, more than three times more than the 2.6% reduction in overall crypto capitalisation. Weakness of this kind is an almost inevitable consequence of a previous period of overperformance, much of the gains of which have yet to be erased. Trading at $1500, Ether is now almost 50% above the area of the June-July lows, while Bitcoin has rolled back to its lows of that period. News background Tether and Bitfinex technical director Paolo Ardoino said the move to PoS will not help the second cryptocurrency catch up to Bitcoin. The Merge will not lower transaction fees or make ETH more decentralised, nor will it increase network capacity. Ethereum cannot compete with BTC as a form of money because it has no maximum issue limit. According to Santiment, more than 45% of Ethereum nodes launched after The Merge update are managed by just two addresses, raising concerns crypto community concerns about centralisation. Read next: Asia: Chinese Retail Sales Rose | Does Weaker CNH (Reminbi) Support Chinese Economy? | FXMAG.COM According to Chainalysis, developing countries are leading the world in cryptocurrency adoption. Vietnam and the Philippines lead the rankings due to the popularity of cryptocurrency and NFT gaming projects. Of the developed countries, only the US and China are in the top 10, ranking fifth and 10th, respectively.

It happened seamlessly. On Thursday, The Merge fused Ethereum’s PoS testnets, cutting the chain’s energy consumption by a whopping 99.95%. Ethereum fans joined the online watch party, and even Google celebrated the event with a live countdown on its site. We honour the crypto milestone with an ETH giveaway, and take our hats off to everyone who made The Merge happen. Markets Spotlight Note: Market prices captured in US$ at the time of reading. Explore more on Crypto‌.com/Price. News Snaps Starbucks will offer an NFT-based loyalty program. CoinDesk reports that Starbucks recently announced an NFT loyalty program running on the Polygon network. Customers will be able to purchase collectible stamps in NFT form that offer immersive experiences and other benefits. DBS, the largest bank in Southeast Asia, set to enter the Metaverse. Singapore bank DBS is set to explore the Metaverse. DBS announced a partnership with The Sandbox, and its aim is “to create DBS Better World, an interactive Metaverse experience showcasing the importance of building a better, more sustainable world, and inviting others to come alongside.” Check out Bitcoin.com for more. The Merge just made Ethereum a whole lot greener. With the recent successful merge, Ethereum is now much more energy efficient. Moving from Proof of Work to Proof of Stake has reduced Ethereum’s blockchain energy consumption over 99.95%. Vitalik Buterin tweeted that it would reduce worldwide electricity consumption by 0.2%. Visit CNN for the full story.   GameFi experiences a 135% jump in fundraising for the month of August. The crypto market as a whole may still be facing a downtrend, but interest in Web3 games and Metaverse projects continues strong. Over US$748 million in funds have been raised in the month of August, Cointelegraph reports. NFT collection Doodles raises US$54M. The well-known NFT collection Doodles recently received US$54 million in funding and a US$704 million valuation. Doodles plans to use this investment to focus on monetising its intellectual property globally in order to scale its growth. See CoinDesk for more details. What’s Ahead Keep an eye out for the Vasil hard fork for Cardano that will take place on 22 September. If the upgrade is successful, it will improve Cardano’s scalability and lower the transaction costs on its network. NFT Spotlight From “Making Dollars” in 1988 to perhaps “Mining Dogecoin” today, Erick Sermon of iconic hip-hop group EPMD launched an NFT collection with renowned Canadian-Indigenous artist, record producer, engineer, and longtime collaborator David “Gordo” Strickland. The hip-hop luminaries also donated a portion of the proceeds from the collection to an organisation that supports Indigenous residential school survivors. “Gordo was at the studio doing these abstract hip-hop legends paintings on his down time. […] He was doing paintings of all of us, and Snoop, and Dre, and Redman and so on. […] I let him do his thing and magic happened.” Sermon, on the origins of his collection Read Crypto.com’s full interview with Sermon and Gordo or browse the collection. Product Picks Six More Tokens Added to Recurring Buy ZRX, GNO, GRT, NEO, and more have been added to the growing list of over 70 supported tokens for Recurring Buy. Crypto.com App users can now access the Dollar Cost Averaging (DCA) investment strategy for more tokens and to automate purchases, with as little as US$15.  DeFi Wallet Now Supports Nine Languages  Users can now easily and securely manage 700+ tokens across 20+ blockchains, seamlessly swap tokens, earn token rewards, manage their NFTs, and connect with the most popular dApps in seconds in their preferred language.  US$10,000 Prize Pool for the ETH Merge Trading Competition To celebrate this historic event, we’re giving Crypto.com App and Exchange users an opportunity to earn a share of US$10,000 in ETH. Competition ends 30 September. Join now on the Crypto.com App and Exchange. Crypto Level Up What is a DAO? Decentralised autonomous organisations (DAOs) embrace everything that traditional organisations don’t. Here are the values that define a DAO. Flat. No CEOs. No executive committee. No hierarchy. All DAO-related decisions are made collectively by the stakeholders or members of the DAO. Decentralised. A DAO uses smart contracts, not a third party, for execution. But sometimes, members of a DAO may decide to get outside help to fix issues like bugs or updates. Transparent. A DAO hides no secrets. Anyone is welcome to inspect the public smart contract that manages its operations and the full transaction history on the blockchain. Accessible. From chef to bioscientist and yourself, anyone can join a DAO — as long as they fulfil the predetermined requirements, such as holding its governance token.Democratic. Once the voting is done, and a decision made, no single party can veto it. Learn more about DAOs and how they work Crypto IRL Happiness often comes in pairs. Cheers, @Rutger_B79. We hope you enjoyed the moment with your pal, and the Crypto.com Icy White Visa Card, too, of course! Featured Merchant Juan Otero, CEO of Travala.com, tells us how crypto is changing the game of international travel. What can travellers buy with CRO on your site? Travellers can use CRO to book 2,200,000-plus accommodations, flights with over 600 airlines, and more than 400,000 activities across 230 countries and territories. Every booking also receives a 2% giveback in $AVA, Travala.com’s travel utility token, which can be increased to up to 10% by becoming a Smart member. Poor foreign exchange rates are the bane of international travel — can crypto do away with them? Absolutely — the borderless nature of crypto makes it perfect for international travel. When you book online with foreign travel providers, you’re usually hit with foreign exchange fees in addition to credit card processing fees, which on average, add up to around 3%. By booking travel with crypto, both these fees are avoided. The only fee you pay is the network fee, which in most cases is just a few cents. What’s the swankiest trip someone has paid for in crypto on your site? Our luxury travel division, Concierge.io, has organised some incredible recent experiences for crypto enthusiasts — and when we say experiences, we don’t just mean flights and hotels. We’re the exclusive payment provider for Rare Vibes AVClub when it comes to their events in Miami. Earlier in April, RVAC’s BTC Miami Event was the talk of the town, with musical acts such as Diplo, ATrak, Bassjackers, and several others at MAPS Backlot in Wynwood. Have you paid for a flight or hotel in crypto yet? Where to?Of course! My most recent crypto booking was for flights and accommodation for the upcoming Singapore Grand Prix. My co-founder, Steve, and I will be catching up with the previous Travel Tiger Club giveaway winner in June. Decoder Bagholders are individuals who do not sell their assets, even if the price drops significantly or ends up at zero. There are many possible reasons for an investor to become a bagholder. For one, sometimes investors believe so strongly in a project that they are unaffected by short-term price action.  Another reason is that they missed out on the crash, with the asset price dropping so quickly they didn’t have time to sell it. Finally, some investors become bagholders because they became disinterested in a project and forgot about their investment. Once they do check, they feel there is no point in selling, as it is worth a fraction of their initial investment. This Week in Crypto History Vitalik Buterin in Time magazine’s top 100 most influential people. This time last year, Ethereum co-founder Vitalik Buterin was featured as one of the top 100 most influential people of 2021. Buterin ranked among the likes of Elon Musk, Alexis Ohanian, and Billie Eilish. That’s it for this week’s Snapshot. Want more? Head over to our Insta feed for bite-sized crypto lessons.    

Disney is exploring and developing plans for the metaverse. ConsenSys launches free NFTs to commemorate Ethereum’s Merge. Gods Unchained is teaming up with GameStop. Key Takeaways Disney revealed that it is continuing to explore and develop plans for the metaverse. The company has also been active in the NFT space. Collaborating with NFT marketplace VeVe, it launched the “Golden Moments” collection, which includes Spiderman, Mickey Mouse, and more. “Regenesis”, an NFT collection launched by ConsenSys to commemorate Ethereum’s Merge, is available to claim. The NFT is free to mint, and the claim window will be open for 72 hours starting from the day of The Merge. Gods Unchained is teaming up with GameStop to welcome GameStop customers into the card game’s ecosystem. GameStop PowerUp Pro members will receive a unique code that can be used to redeem Gods Unchained expansion packs containing NFT trading cards. X2Y2 recorded a -17% decrease in sales and a -6% decrease in transactions. Meanwhile, OpenSea‘s sales were positive at +51% and its transaction count also increased +38%. The total market cap for GameFi tokens now stands at US$8.43 billion, down -6% from last week. Crypto.com NFT in the Spotlight Luca De Massis is dropping his very first PFP collection, “TMK”, on Crypto.com NFT. It includes 3,000 NFTs with over 250 traits and unique moods. TMKs are not only highly intelligent but also very sociable, likeable, and fiercely protective of humans. “7 Paintings of Heaven and The Lost Artwork” is an art collection by MACHADOXLEAO that is inspired by John Bunyan’s 1678 allegory “The Pilgrim’s Progress”.  This drop features utilities for collectors, such as original design files and Zoom calls with the creator. NFT Highlights Reddit’s Ohanian leads $54 million Doodles capital raise Paradigm unveiled variable rate gradual Dutch auctions mechanism for Art Gobblers Y00ts mint t00b Is the 7-day biggest NFT collection, surpassing $7.9M in SOL Cardano’s first NFT lending platform announces $25,000 in bounty ahead of mainnet launch Automobili Lamborghini’s “The Epic Road Trip” announces its September NFT utilities Starbucks brewing NFT customer loyalty platform, so are smaller coffee shop chains LG embraces NFT tech with new ‘LG Art Lab’ smart TV application GameFi Highlights Guild of Guardians teams up with top names in esports to grow Web3 game How GameFi contributes to the growth of crypto and NFTs Gala Games launches Superior alpha playtest Over 40% of GameFi users are using the WAX blockchain Web3 gaming still growing despite economic woes, according to DappRadar report GameFi and NFTs set to be first to recover from downturn as venture funds flow in NFT Transaction Benchmark The following chart shows select top NFTs and their historical floor prices: Top Collections The following table shows select top creators (by sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Sample Crypto.com NFT Loaded Lions $106,800 Minted VVS Miner Mole $86,800 Magic Eden Y00ts: mint t00bs $2,778,000 OpenSea CryptoPunks $3,476,000 Platform Crypto.com NFT Collection Loaded Lions Sales Volume (USD) $106,800 Sample Platform Minted Collection VVS Miner Mole Sales Volume (USD) $86,800 Sample Platform Magic Eden Collection Y00ts: mint t00bs Sales Volume (USD) $2,778,000 Sample Platform OpenSea Collection CryptoPunks Sales Volume (USD) $3,476,000 Sample GameFi Top Gainers & Losers Top Games Metrics Daily Gamers by Blockchain Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters  Be the first to hear about new insights: Follow us on Twitter Tags crypto research cryptocurrencies GameFi NFT Ready to start your crypto journey? Get your step-by-step guide to setting up an account with Crypto.com By clicking the Get Started button you acknowledge having read the Privacy Notice of Crypto.com where we explain how we use and protect your personal data.   DOWNLOAD APP

Blue line- neckline support In previous posts we warned traders that Ethereum was most probably forming a head and shoulders bearish pattern and a break below $1,500-$1,450 would accelerate selling and provide a new bearish signal. Over the weekend price has clearly broken, back tested and got rejected at the blue neckline. This was once support and is now key resistance. Price is now under pressure and we are looking for a move lower towards $1,000. The head and shoulders pattern target is at $850. However our first target and next important support is at $1,200-$1,180. Short-term trend remains bearish. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 2022-09-20 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293191

Unarguably the “poster image” for blockchain, Ethereum is one of the biggest and most important names within blockchain circles and discussions. However, many beginner, intermediate, and even expert blockchain users might have encountered difficulty, occasionally or frequently, navigating the Ethereum blockchain. If this sounds like you then this article is just what you need. While the information in this article will not magically wave all your confusion about the Ethereum blockchain away, it definitely will go a long way in making your blockchain experience more enjoyable. Welcome to our brand-new educational series on Ethereum, which is a consumer awareness initiative to help understand everything about the inner workings of the Ethereum blockchain,Ether token, and much more. What are Blockchain Explorers? Because blockchains, such as Ethereum, are open-source and decentralized, anyone with an internet connection can examine its contents whenever necessary or desired. This is where blockchain explorers come in. This platform can offer the best foundation for learning about the fundamentals of a blockchain. That said, blockchains that prioritize privacy above decentralization, such as Monero, might limit spectators’ access to information. Outside of that, most blockchains are open to dissection on request. One popular yet underused tool for peering into or dissecting network activity is ‘Etherscan.’ Etherscan: The Basics This blockchain explorer, as it is fondly called, allows users to evaluate anything and everything on the Ethereum blockchain, such as observing transactions in real-time, viewing wallet activities, and many other interesting use cases. For a simpler understanding of Etherscan, think Google but for blockchain. Etherscan Homepage This easy-to-use and trusted blockchain tool mandates no sign-up required for users to access the ever-increasing depths of the Ethereum blockchain, rightfully earning it the Google for Ethereum analogy. The Origin Story of Etherscan Etherscan is a not-for-profit platform created by a small team of developers led by Mathew Tan, the current CEO, to make Ethereum more open and accessible to the public. “Our mission is to facilitate Blockchain transparency by indexing and making searchable all transactions on the Ethereum Blockchain in the most transparent and accessible way possible,” the team states. The blockchain explorer was launched in 2015, around the same time as Ethereum, in Kuala Lumpur, Malaysia. Etherscan boasts of having 5 million users per month, who use the platform as the “source of truth” for events and occurrences on the Ethereum blockchain. Etherscan also serves as an archive for Ethereum and stores historical data for newer generations of Ethereum and blockchain enthusiasts. The network is completely independent and is not funded or managed by the Ethereum Foundation, allowing it to maintain an unbiased stance on Ethereum. Understanding Etherscan The basic functionality of Etherscan is similar to any other blockchain explorer. It allows users to look up transactions, wallet activities, smart contracts on the blockchain, and so much more. Etherscan brings all this functionality to the fingertips of the user, through a search bar or by navigating the menu options on the homepage of the website. Blockchain technology provides transparency for all activities, giving users an avenue to query data. Etherscan simply acts as an aggregator and visual interface to this data; a search engine. Not only that, its use case has expanded over the years to include more data and services as it evolves with the general blockchain ecosystem. As mentioned earlier, users can choose between creating an account or using the platform without one. Not having an account does not limit the amount of data users can access in any way. Also, developers can easily access the API services to build decentralized applications (dApps) or serve as a data feed. More on this later. Due to its support for user accounts, some people think Etherscan is a wallet service provider; it isn’t. Also, wallet addresses cannot be integrated on Etherscan. However, users can input and verify their Ethereum address on Etherscan and track transactions and activities. Why Use Etherscan? Now that you know the basics of Etherscan, the question “why” might have crossed your mind. Answering why you should use the blockchain explorer is necessary to becoming an independent-thinking blockchain user. Gaining more knowledge on how to explore and analyze the blockchain will give you a better perspective as a blockchain user or enthusiast. Beyond that, knowing how to use Etherscan can save you from making wrong or costly decisions and even set you ahead of the curve. For instance, monitoring whale activities will keep you updated with the movements of large amounts of cryptocurrency to and from exchanges. Most times, this knowledge or information can be used to preempt market rallies or sell-offs in the crypto market, allowing you to position strategically. You can also use the information from Etherscan to conduct in-depth due diligence on the founders of a token and what they are doing with the underlying token. This insight can allow you to identify potential scams or rug pulls. How To Use Etherscan Blockchain or Ethereum enthusiasts can simply log on to the Etherscan website and begin exploring, it’s that easy. To view specific wallet details and transactions, however, the user will need to provide the specific wallet address or the transaction ID. Etherscan allows users to quickly search the desired address, transaction ID, block, token, or the Ethereum Name Service (ENS). As noted earlier, think of it the same way you would input a term into the Google search bar. Users can also browse or search transaction history and examine the existing state of the Ethereum network from the Etherscan homepage. Additionally, users can create watchlists of accounts to track, make notes, and turn on notifications on their favorite or desired metrics or accounts. Described below are some of the ways users can decide to use Etherscan. Looking Up Transactions On Etherscan One of the most common uses of Etherscan is to view and track specific transactions. To look up specific transactions on the blockchain explorer, simply input the transaction ID on the search bar. Users can also open the transaction tab of a contract page, which would display every transaction related to the contract. This could include minting, transfers, sales, burning, settings on a wallet, and so much more. As one would expect, all this data and activity is time-stamped on the blockchain. Monitoring a Transaction Hash A transaction hash is used to track or trace the progress of a transaction on the blockchain. To monitor a transaction, simply copy the transaction hash in question and paste it into the search bar on Etherscan. Once you do this, a flurry of transaction details will be displayed. The displayed information would include transaction status (failed or successful), the block height in which it was sent, transaction costs, gas prices of the transaction, sender and recipient wallet address, and so much more. Examining a Wallet Address On Etherscan Users can easily view the transaction activity on a wallet and how the wallet’s balance changed over time. Wallet information can be gotten by inputting the desired wallet address and selecting “Analytics.” Once done, the user can see the data analytics on a wallet, such as existing and past balances, transaction history, and fees paid. Looking Up the Gas Fees Using Etherscan Etherscan can also be used to track gas prices, measured in Gwei, on the Ethereum network. Gas prices are a crucial part of transaction fees on Ethereum and allow users to trace a transaction up to the block it was confirmed. Every block on the network features specific gas prices, which varies based on existing network traffic or other conditions. Gas Tracker Apart from monitoring gas fees on other transactions, users can track gas fees through the “gas tracker” option, and track or review existing gas prices to make more informed decisions on transactions. Also, the gas tracker tool serves as a metric for predicting network congestion and, as a result, possible price dynamics. Users can also use the gas tracker to determine gas prices required for interacting with certain smart contracts. Viewing NFTs On Etherscan Etherscan released a new feature in 2022 to allow users to view NFTs directly from the platform. In a typical Etherscan fashion, this new feature allows users to get a breakdown of all the information on the underlying NFT, allowing for better trading decisions. This new feature also makes it easier for newbies or beginners to navigate the NFT space and boosts the transparency of NFT ownership and transactions. This makes it easier to verify that an NFT seller is the original owner of an NFT and not a scam. NFT holders can also view their collections on one page. They can do this by opening the Etherscan homepage and inputting (copy and paste) their wallet addresses on the search bar. On the transaction bar, click ‘ERC721 Token Txns’ and instantly have the list of your NFTs displayed on your screen. Take it up a notch by clicking on the ‘Details’ column and clicking ‘View NFT>’ to view the NFT details and properties. Reviewing Token Approvals for dApps Interacting with a dApp automatically gives out some wallet information and access to the dApp in question. This makes it imperative to know exactly what dApp you’re interacting with and if you want that project to have access to your wallet. Token Approval While vetting a DeFi project before interacting with it would save you from several potential pitfalls, you want to be sure the trusted project remains true to its goals and mission or has not been compromised. Etherscan has you covered. Apart from providing the necessary information on a dApp, Etherscan allows users to revoke wallet access to decentralized applications. Users can revoke wallet access by going through the Token Approval Checker portal, which gives the option of blocking a specific dApp the user no longer trusts. Simply search your wallet address on the Token Approval Checker option, review the list of approved smart contracts on the wallet, and click on the ‘Revoke’ icon to end a dApp’s access to your wallet. Viewing Smart Contracts On Etherscan Ethereum remains the king of DeFi and the broadest blockchain ecosystem, making it an integral part of the decentralized finance space. As such, Ethereum is the most preferred option for smart contracts. Smart Contracts Search Page Using Etherscan to search smart contracts and their interactions is a good way to avoid losing funds by sending to the wrong contract. Etherscan Contracts This blockchain explorer makes it easier to research the history of smart contracts and verify ownership. Finding Airdrops On Etherscan Etherscan recently got updated with functionality that provides airdrop details and support. While users cannot capture every airdrop as they are launched, Etherscan allows users to see an overview of which airdrops are active or not, thereby helping the user maximize their possibility of capturing airdrops. This feature also works well for those trying to confirm their eligibility for certain airdrops. Tracking DEX Activities Users of Etherscan can look up information about their favorite decentralized exchanges. Etherscan provides a statistical representation of DEX activities and performance. DEX Pie Chart Charts on DEXs can be customized to include preferred metrics and format and can be downloaded. DEX Tracker Viewing ERC-20 Token Activities Etherscan allows users to keep track of their favorite ERC-20 and ERC-721 tokens in the market. Simply by typing the name of the token into the search bar, users can get in-depth token information, such as the current price, current market capitalization, total number of token holders, number of transactions, contracts listed on the token, and every single transaction involving that token. Token Tracker ERC-721 Page Such utility comes in handy when a user is trying to decide on interacting or investing with a new crypto asset. Users can see the token distribution structure of the project by viewing the holders, which is useful when trying to assess if the token is susceptible to whale manipulation or uneven distribution. Minting NFTs On Etherscan Etherscan can be used by NFT enthusiasts to mint their favorite non-fungible tokens. This is especially useful in times when the hype surrounding the launch of a token causes massive traffic on minting websites, which could cause the website to slow down, be unresponsive, or crash. Etherscan NFT Minting Users can mint the NFT in question directly from the projects’ smart contracts on Etherscan. Several NFT projects, such as Loot, have been minted exclusively through the contract. To mint NFTs using Etherscan, start by making sure you have enough tokens in your wallet, then search the smart contract address through the search bar on Etherscan. You would have to connect your wallet to the platform using the ‘Connect to Web3’ icon. After this, you can click on ‘mint,’ input the transaction details, confirm the transaction, and get the NFT deposited to your wallet. Using Etherscan’s API Another important feature of Etherscan is its application programming interface (API) services. This feature is useful to expert blockchain users and developers and also useful to beginner and intermediate blockchain users for educational purposes. Developers can create an account on the blockchain explorer and use its APIs to create decentralized applications. NFT enthusiasts can also benefit from creating dApps on Etherscan as the dApp would have a dedicated NFT tracker page, where it tracks all NFT transactions and activities on Ethereum. Etherscan also allows developers to integrate its services into their apps or website, which would allow them to display information and statistics directly from Etherscan. Etherscan API Integration Some of the information the API can allow users to display on their websites include specific account information, contracts, transactions, blocks, event logs, Geth/Parity Proxy APIs, and other blockchain statistics. Tracking the Ethereum Blockchain One of the most common uses of Etherscan is to view information about Ethereum. The blockchain explorer can be used to view charts and statistics and derive overviews of the entire Ethereum ecosystem, including market metrics such as daily transactions, unique addresses, and average block size. Ethereum Statistics Information like this is invaluable for Ethereum experts and enthusiasts, especially as the behemoth blockchain transitions from a Proof-of-Work (PoW) system to a Proof-of-Stake verification method. Ethereum Data Limitations of Etherscan While Etherscan provides immense benefits to its users, it is not without its drawdowns. For one, the information provided by the platform can be overwhelming for some, especially newbies or beginners. Another drawdown experienced by most traders is that Etherscan does not provide active trading charts. Users would have to toggle between screens to access active trading charts and view Etherscan statistics. Also, trades on digital assets cannot be executed from the platform, making it unsuitable as a standalone investing or trading service. Final Word Etherscan is an easy-to-use, detailed, and free blockchain analytics tool, making it almost indispensable for those who have grown accustomed to using it. Most of the tools on the platform can be learned and mastered within a short period, as they are basic and explanatory. This makes the platform perfect for users looking to improve their blockchain analytics skills. While there are other blockchain explorers on the market today, Etherscan remains ahead of the pack in many ways, considering it was the template used by most competitors. This makes your acquired Etherscan skills easily transferable to other analytics platforms.   Source: https://www.kucoin.com/blog/what-is-etherscan-and-how-to-use-it

Table of Contents 1. Crypto Market Overview 2. Top Altcoin Gainers and Losers 3. News Highlights This Week: 4. Crypto Calendar: Events to Watch This Week The previous week was optimistic for the crypto market as enthusiasts cheered the Ethereum Merge, marking the transition of the leading smart contract blockchain to a proof of stake consensus. Although, the optimism didn’t translate to the market’s performance, with Bitcoin and altcoins, including Ether, trading in the red through the period as the focus shifted to Fed’s rate hike concerns.   The total cryptocurrency market volume has spiked by 47.73% in the past 24 hours to $70.93 billion, an encouraging sign suggesting high interest in this asset class among investors. The global cryptocurrency market capitalization dropped by 6.53% to $908.72 billion in the past 24 hours, falling under the key $1 trillion mark.   Let’s take a look at some of the biggest news from the crypto market and how they can impact digital currencies in the coming week:   Crypto Market Overview After rising to a high of $22,673.82 in the past week, Bitcoin (BTC) has fallen under the critical $20,000 level and is going further down following a weekly loss of more than 13%. At press time, the crypto king by market cap trades under the $19,000 level but bounced slightly higher than its weekly low of $18,644.47.   Cryptocurrency Market Heatmap | Source: Coin360   A few days after the Merge successfully saw Ethereum (ETH) transition from a proof of work (PoW) to a proof of stake (PoS) network, ETH/USDT gave back its gains after reaching a high of $1,745.78. Ether is down by 24.71% as the optimism over the ETH Merge event fades, and the bearish sentiment engulfs the second largest crypto.   The only altcoin that traded in the green over the past week was Chiliz (CHZ), strengthening by 11.17% in seven days. The altcoins that fared the worst in the market include Terra (LUNA), which was down by 48.08% for the week, followed by Terra Classic (LUNC) and Gnosis (GNO), which registered weekly losses of 31.90% and 26.81%, respectively.   Top Altcoin Gainers and Losers Top Altcoin Gainers Chiliz (CHZ) 11.39% Dai (DAI) 0.14% Binance USD (BUSD) 0.07% Top Altcoin Losers Terra (LUNA) 48.08% Terra Classic (LUNC) 31.90% Gnosis (GNO) 26.81% News Highlights This Week After much excitement in the previous week surrounding the landmark Ethereum Merge event, this week’s on the quieter side regarding fundamentals as far as the crypto market is concerned. The focus will remain squarely on factors outside the market, including Fed rate hikes, inflation worries, and the possibility of a global economic recession.   Here are some of the biggest headlines you need to know before trading cryptocurrencies this week:   Crypto Market in Bear Mode - Fed’s Rate Hike and Recession Fears Weigh Macroeconomic factors continue to dominate the minds of crypto investors as all attention turns to the US Fed Chair Jerome Powell, who could announce a 75bp rate hike this month. Tesla CEO and crypto influencer Elon Musk has already cautioned that a steep hike in interest rates by the Fed and peak Fed hawkishness could bring about deflation in the market, further impacting riskier instruments like digital assets.   Despite the cryptocurrency market enjoying strong fundamentals and increasing adoption, the sentiment continues to experience bearishness due to fears of a recession in the global economy. Rate hikes by the US Federal Reserve and other central banks increase the cautious mood among international investors and send them towards safer instruments and away from riskier instruments like cryptos and equities. This is one of the significant reasons the market exhibits signs of weakness into a new week.     Analysis of Social Trends in Crypto | Source: Santiment   To make matters worse, the risk-averse mood is further boosted by the World Bank’s warnings about a possible global economic recession in 2023. With central banks worldwide set to follow in the Fed’s footsteps with aggressive rate hikes to offset inflation against the backdrop of ongoing geopolitical tensions, a slowdown is inevitable. Will Bitcoin and other digital assets hold up and thrive through their first-ever global downturn?   Crypto Fear & Greed Index Signals Extreme Fear According to analytics firm Alternative, the Fear & Greed Index signals Extreme Fear among crypto investors. The indicator considers multiple factors to provide sentiment analysis of the crypto market. The index’s score of 21 is lower than last week’s 25 and a sharp drop from yesterday’s 27, signaling a more bearish bias among crypto investors.     Fear & Greed Index | Source: Alternative   Analysis of social trends in the crypto market from Sentiment also includes a bearish mood among crypto traders and investors. The most popular terms associated with BTC/USD include bottom, sell, bear market, rekt, and inflation.   On a somewhat positive note, however, there is considerable chatter on social media over the Ethereum Merge, keeping ETH/USD and the Ethereum ecosystem trending. Another digital asset doing well as far as social dominance in crypto markets is concerned is Cardano, but more on that later.   Institutional Investor Interest in ETH Grows After the Merge Analysis of ETH futures trading indicates a strong interest in the world’s second-largest cryptocurrency among investors through the week of the Merge. A comparison of the CME futures trading charts of Bitcoin vs. Ethereum shows higher activity in ETH, suggesting growing interest in Ether among institutional investors, thanks to the critical event.   BTC vs. ETH Futures | Source: TradingView   However, now that the Merge has happened and Ethereum has transitioned to PoS consensus, we’ll have to wait and see if the institutional investor interest in the crypto continues to grow and strengthen. The futures trading charts offer the most promising insight into the level of interest institutional investors have in a particular asset.   Cardano Gets Ready for Vasil Hard Fork This Week Moving beyond the market sentiment, Cardano (ADA) is getting ready for its next major network upgrade on Sep 18, 2022. The Vasil hard fork event was initiated on Sunday, 18 September, and will go live per schedule.   The Vasil era is the most ambitious upgrade to the Cardano blockchain and will usher in significant improvements in its scalability. Plutus V2 scripts will also improve the smart contract capability of the network, making the blockchain an even more attractive platform for decentralized applications (dApps) in the future.     ADA/USDT H4 Price Chart | Source: KuCoin TradingView   Ahead of the hard fork, Cardano’s social activity is on the uptick. This has also translated into higher buying activity in the ADA/USDT crypto pair in the near-term. Santiment’s Social Dominance chart analysis shows a higher volume of social traffic around Cardano even as the enthusiasm over Ethereum Merge fades online.   Will SEC vs. Ripple Case Close Soon? There may soon be light at the end of the tunnel for Ripple (XRP) holders in the lawsuit. Ripple Labs and the US SEC have filed motions for summary judgment in the Southern District of New York, asking the judge to pass a ruling on the case with the information presented.   The move could expedite a ruling, ending the prolonged uncertainty Ripple’s XRP has faced about its status as an unregistered security. Irrespective of whether the judge rules in favor of Ripple Labs, the end of the lawsuit could bring significant relief to holders of the XRP cryptocurrency, which has suffered immensely due to the uncertainty and delays in the case.   Norway’s Central Bank Plans CBDC on Ethereum More potential good news for the crypto market is the Norwegian Central Bank’s decision to explore the nation’s digital currency based on the Ethereum blockchain. Earlier this month, Norges Bank - the central bank of Norway, announced on Twitter that the Nordic nation’s CBDC (central bank digital currency) would be based on Ethereum.   Ethereum will provide the core infrastructure to manage the issuance, distribution, and destruction of Norway’s CBDC. As of July 2022, nearly 100 countries worldwide are in various stages of experimenting and adopting CBDCs as the future of money, with Nigeria and The Bahamas leading the way by fully launching their projects to date.   Crypto Calendar: Events to Watch This Week 20 September 2022 - Metarun (MRUN) - Metarun Public Launch 20 September 2022 - Secret (SCRT) - Mainnet Upgrade 20 September 2022 - Youclout (YCT) - Landsale Launch 21 September 2022 - EOS (EOS) - Antelope Leap V3.1.0 22 September 2022 - Cardano (ADA) - Vasil Upgrade 25 September 2022 - HyperonChain (HPN) - Mainnet Launch Sign up on KuCoin, and start trading today! Follow us on Twitter >>> https://twitter.com/kucoincom Join us on Telegram >>> https://t.me/Kucoin_Exchange Download KuCoin App >>> https://www.kucoin.com/download Also, Subscribe to our Youtube Channel >>>Listen to 60s Podcast Source: Weekly Crypto Analysis: Week After Ethereum Merge, Crypto Market Weighed Down by Rate Hike and Recession Fears | KuCoin

Technical outlook: Ethereum climbed through $1,392 during the New York session on Monday before pulling back. The crypto is seen to be trading close to $1,365 at this point in writing and is projected to target up to the $1,800 initial resistance in the near term. Ideally, prices should stay above the $1,279 interim lows to keep the near-term bullish structure intact. Ethereum has bounced off the Fibonacci 0.618 retracement of the larger-degree upswing/rally between $800 and $2,031 as seen on the 4H chart here. Furthermore, it is also the past resistance-turned-support zone around the $1,270-80 mark that has provided the bounce. The bulls seem to be under control for now and are targeting at least $1,800 to go past initial resistance. Ethereum's drop between $2,031 and $1,279 has been in three waves and hence corrective. A continued rally from here towards the $1,790-1,800 levels will confirm that the bulls are poised to push above $2,031 before giving in to the bears again. Only a sustained break below $1,250 will delay matters and might bring back the bears to the market. Trading plan: Potential rally towards $1,800 against $1,279 Good luck! Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 07:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293361

Crypto Industry News: Last week we witnessed one of the most anticipated developments in the cryptocurrency industry, ie Ethereum switched to Proof of Stake. At the time of the update, the ETH price was around $ 1,600 and a few hours later it had risen to around $ 1,650. However, it was then that the bears took full control of the market and brought prices down to a 2-month low, i.e. below $ 1,300. At the time of writing, ETH costs around $ 1,340, down almost 8% in the last 24 hours and about 20% from the event mentioned. This has made many believe that the update has turned into what transactions refer to as "buy the rumor, sell the news." In other words, investors bought ETH when the merger date was announced earlier this year and sold it when the actual event took place. Another possible cause of the drop could be that many people may have purchased ETH while waiting for the ETHW airdrop. It is also worth noting that the macroeconomic situation remains difficult and the market is waiting for the last Fed decision on interest rates, which is due later this week. Technical Market Outlook: The ETH/USD pair had broken below the last month's low seen at the level of $1,423 and made a new weekly low at the level of $1,281 before a shallow bounce occurred. The levels of $1,358, $1,407 and $1,424 will now act as the technical resistance for bulls as the market is trying to extend the bounce from the extremely oversold conditions on the H4 time frame chart. The next target for bears is seen at the level of $1,281, $1,267, $1,255 and below. Despite the extremely oversold market conditions on the H4 time frame chart, the momentum remains weak and negative, which might indicate the ETH is still in the short-term down trend. Weekly Pivot Points: WR3 - $1,460 WR2 - $1,386 WR1 - $1,346 Weekly Pivot - $1,312 WS1 - $1,272 WS2 - $1,238 WS3 - $1,164 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281.9. If the down move will extend, then the next target for bears is located at the level of $1,000. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 2022-09-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293369

Crypto Industry News: Ethereum co-founder Vitalik Buterin shared his vision of Layer 3 protocols. While Layer 2 protocols focus on "scalability", the next protocols would serve different purposes. Further changes to Ethereum While Ethereum-based Layer 2 solutions focus on scaling networks, Buterin believes their Layer 3 counterparts will serve a completely different purpose - providing "tailored functionality". He shared his thoughts in a post from September 17th, outlining three "visions" of what Layer 3 solutions will be used for in the future. Ethereum co-founder said that the third layer in a blockchain only made sense if it provided a different functionality than layer two. "The 3-tier scaling architecture, which is to lay down the same scaling scheme on top of each other, usually doesn't work well," he said. Except that "a three-tier architecture in which the second and third layers have different goals, can work" he added. One use case for Layer 3 would be what Buterin describes as "customized functionality" by referring to privacy-driven applications. Another use case would be "customized scaling" for specialized applications that do not wish to use an Ethereum Virtual Machine (EVM) to perform computation. Buterin also added that layer 3 can be used for scaling with the Validiums tool. This can be beneficial for enterprise blockchain applications by using a "centralized server that runs validation checks and regularly shortcuts the chain." However, Buterin also noted that since interchain transactions can be performed easily and cheaply between two tiers 2, building tier 3 does not necessarily improve network performance. Technical Market Outlook: The ETH/USD pair had broken below the last month's low seen at the level of $1,423 and made a new weekly low at the level of $1,281 before a shallow bounce occurred. The levels of $1,358, $1,407 and $1,424 will now act as the technical resistance for bulls as the market is trying to extend the bounce from the extremely oversold conditions on the H4 time frame chart. The next target for bears is seen at the level of $1,281, $1,267, $1,255 and below. Despite the extremely oversold market conditions on the H4 time frame chart, the momentum remains weak and negative, which might indicate the ETH is still in the short-term down trend. Weekly Pivot Points: WR3 - $1,460 WR2 - $1,386 WR1 - $1,346 Weekly Pivot - $1,312 WS1 - $1,272 WS2 - $1,238 WS3 - $1,164 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281.9. If the down move will extend, then the next target for bears is located at the level of $1,000. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 08:00 2022-09-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293567

Bearish sentiments predominate in both crypto and regular markets as investors worldwide await the FOMC meeting and the following interest rate hike by the Federal Reserve. Currently the US central bank is expected to increase the Fed funds rate by 75 basis points. However, some believe that a 100 bps hike could be on the table, as inflation remains a constant issue. Bitcoin was under pressure throughout Tuesday's session. Bearish traders now have a short-term technical advantage as BTC fell below the low of early September. While the situation might seem bleak, it is not hopeless, and Bitcoin could recoup its losses, independent market analysts Michael van de Poppe said. Ethereum continues its attempts to gain momentum after The Merge successfully concluded last week. ETH decreased slightly by 0.25% and hovered at $1,327 at the moment of writing. According to CoinMarketCap, out of the 200 top tokens, the best performing cryptocurrencies over the past day were Helium (HNT), which jumped by 10.48%, Render Token (RNDR), which gained 8.43%, and Syscoin (SYS), which rose by 7.11%. The market capitalization of the crypto market currently stands at $929 billion. The Bitcoin Dominance Index is at 39.3%. Relevance up to 04:00 2022-09-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322264

Technical outlook: Ethereum dropped through $1,220 during the New York session on Wednesday. Most risky assets were under pressure after the Fed raised an interest rate by 75 bps to tame inflation. Fundamentals might affect a short-term price action but technically, charts are still indicating a long-awaited bullish reversal to resume from here. Ethereum has completed three waves between $2,031 and $1,220 as seen on the 4H chart here. The above drop seems corrective and is bouncing off the Fibonacci 0.618 retracement of the early rally between $800 and $2,031 as seen on the 4H chart here. If the above structure holds well, the bulls will be back in control soon. Also, note that the RSI has produced a bullish divergence as prices dropped to a fresh swing low at $1,220. A combination of a bullish divergence, the past resistance-turned-support zone and the Fibonacci 0.618 bounce offers a highly probable set-up. A push above $1,412 will confirm a meaningful low in place and the bulls are back in control. Trading idea: Potential rally through $1,800 against $900 Good luck! Relevance up to 07:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293756

Crypto Industry News: A bill on algorithmic stablecoins has appeared in the US House of Representatives. If it is passed, it could in practice lead to a ban on this type of cryptocurrency. The law criminalizes the creation or issuance of new "endogenously secured stablecoins". So, in practice, it is about creating algorithmic stablecoins. However, officials want to give their creators a chance. If the new law comes into force, they will have two years to change the security models of their coins. The definition in the draft law states that these are stablecoins, the price of which depends on the value of another digital asset, which is backed by the same creator, and which were created to maintain the price of that stablecoin. It is not known how officials will approach, for example, synthetix USD (SUSD). The project is now protected by a native asset of the same protocol. Other unclear stablecoins include BitUSD, which is backed by bitshares (BTS). In terms of competences, the bill authorizes the US Treasury Department to carry out analyzes on stablecoins. This one would cooperate with the Federal Reserve, the Securities and Exchange Commission, the Federal Deposit Insurance Corporation and the Office of the Currency Controller. It turns out that the future of the algorithmic stablecoin market may be decided by a vote that is to take place next week. According to the media, the draft act was developed by Democrat Congresswoman Maxine Waters and her Republican colleague Patrick McHenry. Technical Market Outlook: The ETH/USD pair has extended the post-Merge sell-off below the key technical support located at $1,281 as the new swing low was made at $1,219. The levels of $1,358, $1,407 and $1,424 will now act as the technical resistance for bulls as the market is trying to extend the bounce from the extremely oversold conditions on the H4 time frame chart. Moreover, the bullish divergence between the price and momentum indicator is seen on the H4 time frame chart, so the bounce might be triggered any time soon. Nevertheless, the next target for bears is seen at the level of $1,100, $1,000 and $990. Despite the extremely oversold market conditions on the H4 time frame chart, the momentum remains weak and negative, which might indicate the ETH is still in the short-term down trend. Weekly Pivot Points: WR3 - $1,460 WR2 - $1,386 WR1 - $1,346 Weekly Pivot - $1,312 WS1 - $1,272 WS2 - $1,238 WS3 - $1,164 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281.9. If the down move will extend, then the next target for bears is located at the level of $1,000. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade     Relevance up to 11:00 2022-09-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293818

Crypto Industry News: Jamie Dimon - CEO of JPMorgan Chase & Co. - he reiterated his unfavorable position towards the cryptocurrency market. This time, in his statement, he described bitcoin and the rest of the digital assets as "decentralized Ponzi schemes." Aside from JPMorgan's CEO's open aversion to digital assets, the international investment bank has been offering its clients some services related to this market for some time. The company has recently announced that it will continue to provide this type of service, despite the downturn on the market. JPMorgan's executives are known for their hostility to cryptocurrencies and especially for their criticism of bitcoin. Dimon spoke about the first cryptocurrency for years, describing it as "worthless". Additionally, he warned investors to stay away from BTC. In his last speech, the 66-year-old banker once again highlighted his negative stance by calling bitcoin and the entire digital asset market "decentralized Ponzi schemes." He argued that criminals use digital currencies to carry out illegal operations, including money laundering and sex trafficking. Despite many examples of attacks on the cryptocurrency industry, especially from the banking sector, the reality shows that it is a bit different. This is because many banks face accusations of involvement in mass money laundering. During this time, the blockchain technology on which the entire cryptocurrency sector is based is completely transparent, which gives everyone the ability to track the flow of funds. To this day, cash remains the most common form in which criminals carry out drug and other drug transactions. According to various studies, it is estimated that from 34% to 39% of all cash in circulation is involved in such activities. Interestingly, Jamie Dimon, despite his aversion to bitcoin, is not at all critical of blockchain technology and stablecoins. He believes that they can benefit the financial system if a number of comprehensive regulations are introduced. A few months ago, the CEO of JPMorgan once again spoke warmly about blockchain technology and decentralized finance (DeFi). At the time, he said that these technologies were "real" and could be "implemented both publicly and privately, with or without consent." Technical Market Outlook: The ETH/USD pair has extended the post-Merge sell-off as the new swing low was made at $1,219. The bulls are trying to bounce, so the corrective cycle is ahead of us. The levels of $1,358, $1,407 and $1,424 will now act as the technical resistance for bulls as the market is trying to extend the bounce from the extremely oversold conditions on the H4 time frame chart. Moreover, the bullish divergence between the price and momentum indicator is seen on the H4 time frame chart. Nevertheless, the next target for bears is seen at the level of $1,100, $1,000 and $990. Despite the extremely oversold market conditions on the H4 time frame chart, the momentum remains weak and negative, which might indicate the ETH is still in the short-term down trend. Weekly Pivot Points: WR3 - $1,460 WR2 - $1,386 WR1 - $1,346 Weekly Pivot - $1,312 WS1 - $1,272 WS2 - $1,238 WS3 - $1,164 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281.9. If the down move will extend, then the next target for bears is located at the level of $1,000. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 09:00 2022-09-24 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293960

Technical outlook: Ethereum dropped through the $1,270 lows over the weekend before finding support again. The crypto might have bounced from the Fibonacci 0.618 retracement of its recent upswing between $1,220 and $1,328 respectively. The crypto is seen to be trading close to $1,295 at this point in writing and is expected to push higher towards $1,800 at least. Ethereum earlier found support around $1,220 which is the Fibonacci 0.618 retracement of the entire rally between $800 and $2,031. Furthermore, $1,220 is also the past resistance-turned-support zone as projected on the chart here. Also, note that an Engulfing Bullish candlestick was produced on the daily chart last week. All the above facts are hinting at a potential rally against $1,200. Initial resistance is seen through the $1,790-1,800 area and the bulls might be targeting the same levels. Only a break below $1,220 will be considered to be bearish as prices might drop towards $1,000 which is initial support as seen on the chart here. Trading plan: Potential rally towards $1,790-1,800 against $1,000 Good luck! Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294128

Crypto Industry News: Ethereum co-founder Vitalik Buterin believes other blockchain such as Dogecoin and Zcash should follow the same strategy once the Ethereum fusion has ended. When asked during Messari Mainnet 2022 if all networks should go proof-of-stake (PoS), Buterin said yes. Zooko Wilcox-O'Hearn, founder of Zcash, was also present at the conference. Vitalik said: "I predict that as the proof of stake evolves, its credibility will grow over time." This is not the first time Buterin has urged Zcash to switch to PoS. He suggested the same idea in 2018. Ethereum switched to PoS on September 15, following The Merge update. Buterin said the event went smoothly, even though each test network connection encountered "some form of staircase." Buterin identified scalability as the most important challenge for the next 18 months, adding that the ecosystem must "deliver" this. The merger made it possible to drastically minimize the impact of blockchain on the environment. Dogecoin overtook Bitcoin as the second largest proof-of-work (PoW) cryptocurrency. Technical Market Outlook: The levels of $1,358, $1,407 and $1,424 will now act as the technical resistance for Ethereum bulls as the market is trying to extend the bounce from the extremely oversold conditions on the H4 time frame chart. So far the bulls were able to stay inside the narrow zone located between the levels of $1,281 - $1,358 as the market had been trading inside the zone all the weekend long. Nevertheless, the next target for bears is seen at the level of $1,100, $1,000 and $990. The momentum is neutral-to-negative on the H4 time frame chart, which might indicate the ETH is still in the short-term down trend. Weekly Pivot Points: WR3 - $1,352 WR2 - $1,322 WR1 - $1,302 Weekly Pivot - $1,291 WS1 - $1,271 WS2 - $1,260 WS3 - $1,230 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 09:00 2022-09-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294179

Over the weekend, the rate of ether and bitcoin traded quite calmly within the side channel. However, there is still not enough optimism about a larger upward correction of these trading instruments. But before we talk about the technical picture, I would like to say a few words about the recent advice of the well-loved Robert Kiyosaki—the famous author of the bestseller "Rich Dad, Poor Dad." Kiyosaki recently said that fake money has come to an "end" and gave three tips to help investors succeed in market crashes. Kiyosaki tweeted why, in his opinion, the end of "fake" money has come. "End is here. Called Jerry Williams, my trusted gold and silver dealer. He said: 'I can't get gold or silver coins. The mint will not sell me anymore.' To me, this means the end of fake $ is here." The well-known author echoed his recent recommendation: "As stated in earlier tweet silver going to $100 to $500." His advice was immediately followed by another statement in which he claimed that gold is expensive, calling silver the best investment value to date. Kiyosaki's reasoning is very simple: when President Richard Nixon decoupled the US dollar from its peg to gold, the so-called gold standard, in 1971, the US dollar simply became fake money. The author also recalled three lessons of investing: 1: Your home is not an asset. 2: People who save money are losers. 3: The rich don't work for dollars. Last week, Kiyosaki urged people to "invest in real money," naming bitcoin, gold and silver. He stressed that the Federal Reserve is now doing everything to destroy the U.S. economy amid the interest rate hikes. Kiyosaki urged subscribers to buy cryptocurrency now, ahead of the biggest crash in world history. The well-known author has been claiming for months that he is waiting for the price of the cryptocurrency to bottom out before entering. As for today's technical picture of bitcoin, as I noted above, nothing much has changed since the weekend. The focus is now on the immediate resistance of $19,000, the return of which is "like air" needed in the near future. If this area is broken, you can see a push up to $19,520 and then to $20,000. To build a larger upward trend, it is necessary to break above the resistance of $20,540 and $21,140. If the pressure on Bitcoin returns, and most likely it will, the bulls should make every effort to protect the $18,600 support that has already been tested several times. Its breakout will quickly push the trading instrument back to $18,100 and open the way to update the $17,580 level. Ethereum remains above $1,270 after the recent crash that occurred immediately after the switch to PoS. The most important task for buyers in the current environment is to get back under control of the $1,350 resistance, which will be quite difficult to get above. Its breakdown will lead to stabilization of the market direction and a slight correction to the $1,440 area. The further target will be the $1,504 and $1,550 areas. If the pressure on the trading instrument continues and the rather important $1,270 support is broken, this will push the Ethereum to $1,210 and $1,150, where the big players will again appear in the market. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 09:00 2022-09-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322638

Technical outlook: Ethereum climbed through $1,380-90 during the Asian session on Tuesday after reversing from $1,280-85 over the weekend. The crypto is seen to be trading close to $1,385 at this point in writing and is heading towards $1,450 and $1,550-70 in the near term. Ideally, prices should hold above the $1,270-80 interim support to keep the bullish structure intact. Ethereum had earlier dropped from the $2,031 highs through $1,220, carving a meaningful downswing. Please note that the drop was in three waves and hence corrective in nature. Furthermore, prices found support through the past resistance-turned-support zone and the Fibonacci 0.618 retracement of the entire rally between $800 and $2,031. A high probability remains for a push above $2,031 in the next several weeks. Initial resistance is seen through $1,790-1800 and a break higher will confirm a further upside. A minor rally is expected to reach up to the $1,550-80 zone, which is the Fibonacci 0.618 retracement of the recent downswing between $1,790 and $1,220. Trading plan: Potential rally through $1,790-1,800 against $900 Good luck!   Relevance up to 08:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294334

Crypto Industry News: The Reserve Bank of Australia started cooperation with the Digital Finance Cooperative Research Center and presented the technical details of the CBDC to be launched on the market. We learned that the work on the pilot version of the digital currency of the country's central bank will be completed by mid-2023. According to a recent announcement, the RBA released a white paper titled "Australian CBDC Pilot for Digital Finance Innovation" which investigates use cases of an upcoming financial product. To create CBDC, the institution teamed up with the Digital Finance Cooperative Research Center (DFCRC). All this within the framework of a research project that investigated all the technological, legal and regulatory aspects of CBDC. In addition, the RBA enabled financial industry participants to express their views on the interaction of the digital currency with the national monetary network. Ordinary non-institutional test participants could also evaluate the product and test its application. The entire research process is expected to end in early 2023, and the results are expected to be announced by the middle of next year. Recall that in September 2021, the Reserve Bank joined forces with the central banks of Malaysia, Singapore and South Africa to test cross-border transactions using CBDC. The Innovation Center of the Bank for International Settlements also participated in the project, supervising the activities of the above-mentioned financial institutions. Assistant Governor of the Central Bank of Malaysia - Fraziali Ismail - argued that the joint multi-CBDC program "has the potential to leapfrog past payment arrangements and serve as the basis for a more efficient international clearing platform." Technical Market Outlook: The Ethereum bulls are trying to extend the bounce from the extremely oversold conditions on the H4 time frame chart. So far the bulls were able to break out from the narrow zone located between the levels of $1,281 - $1,358 and made a local high at the level of $1,393. The momentum is strong and positive on the H4 time frame chart, so the bounce might extend towards the key short-term technical resistance located at $1,407. Nevertheless, the next target for bears is seen at the level of $1,100, $1,000 and $990. Weekly Pivot Points: WR3 - $1,352 WR2 - $1,322 WR1 - $1,302 Weekly Pivot - $1,291 WS1 - $1,271 WS2 - $1,260 WS3 - $1,230 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2022-09-28 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294354

The Merge did not have a significant impact on Ethereum quotes, as a full-fledged transition to PoS is just beginning. A significant part of the DeFi sector is in transition and the main altcoin is waiting for several updates before the migration is fully completed. The maximum value from switching Ethereum to PoS will become clear during the next bullish rally. Until then, the altcoin continues to fluctuate in the $1,200–$1,800 range. Over the past 24 hours, the cryptocurrency managed to slightly improve the situation and rise in price by 7%. Ethereum Gives Bullish Signals As of writing, Ether is trading at $1,380 and continues to be bullish. ETH ended the last trading day with a bullish momentum and a small green candle. Most of the buying volumes in the Ethereum network were already formed on September 27. The cryptocurrency has come close to the $1,400 level, which is a key resistance zone. The asset has every chance to gain a foothold above this level at the end of the current trading day. However, it will be possible to talk about a local price reversal only if it successfully consolidates above $1,450. ETH/USD Technical analysis On the daily chart, ETH/USD is showing serious bullish signals. The RSI index has acquired an upward direction, indicating the formation of buying volumes. The MACD indicator is one step away from forming a bullish crossover and resuming upward movement. A strong bullish signal is shown by the stochastic oscillator. The metric has been unable to overcome the oversold zone since September 14 but has subsequently realized a bullish momentum. The indicator has reached the level of 26 and keeps its upward direction. From a technical point of view, the cryptocurrency is approaching the birth of a local upward trend. If it successfully consolidates above $1,450 at the end of the current trading day, the asset has every chance to develop success in the direction of $1,600–$1,800. Reasons for the likely upward trend The main reason for the likely upward trend of the cryptocurrency may be the correction of the US dollar index. The indicator reached a peak value of 114.5 for more than 20 years, after which it began to correct. Given that the DXY technical metrics are in a state of excessive overbought, a deeper correction should be expected. There is also a gradual increase in trading activity. The number of unique addresses and transaction volumes are growing, which may indicate preparations for a local bullish movement. However, it is most likely that a clear jump in indicators will occur if the price successfully consolidates above $1,450. The positive news was the publication of Stanford researchers with the concept of new standards for Ethereum tokens. The study involves the creation of standards for conducting reversible transactions. Management will be carried out by a decentralized system using a voting system. Conclusions Ethereum, Bitcoin and the entire cryptocurrency market are at risk of going on a local bull run due to the DXY correction. The gradual influx of funds into crypto funds hints at an improvement in the investment situation in the market. However, to confirm bullish intentions, Ethereum needs to gain a foothold above $1,450 at the end of the current trading day.   Relevance up to 09:00 2022-09-28 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322758

Crypto Industry News: We are almost two weeks after the historic moment of the Merge, i.e. the transition of the Ethereum network to the Proof-of-Stake model. Due to the abandonment of ether extraction with the existing PoW model and the failure to take off the ETHPoW blockchain resulting from the fork, many former ETH miners complain that they have no idea what to do next. Following the merger, many ETH mining professionals began discussing their future on Twitter. Internet services have contacted several former Ethereum miners to find out what their plans are. The information obtained shows that the mood in this community is currently gloomy, as for many miners nothing is clear about the next steps. Former miner Christian Ander told the service: "Honestly, I don't know which way to go yet. Selling GPU power to other compute-intensive services isn't as profitable as mining ETH. I'm researching myself, and my colleagues are looking for new options for themselves." The former miner recalls that "GPU owners are researching and selling their devices' computing power to another cryptocurrency project, and when energy prices are very high, they shut down and sell excess power to the grid." Ander admitted that he is not mining any cryptocurrencies at the moment and is only observing the market. Another former Ethereum miner, Kevin Aguirre, said he sold his equipment to a person who is now using it to mine other coins. However, it states: "I have a little bit of regret about how the adventure with my mining machine ended, but it finally supported me and my family during the pandemic." At a time when Ethereum used the Proof-of-Work algorithm, GPUs were quite popular. After the Merge almost two weeks ago, GPU manufacturers began to record heavy losses. Technical Market Outlook: The ETH/USD pair had reversed all the recent gains made after the bounce to the level of $1,399 and is currently trading around the demand zone seen between the levels of $1,288 - $1,257. After the aggressive and dynamic reversal, the next target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. Weekly Pivot Points: WR3 - $1,352 WR2 - $1,322 WR1 - $1,302 Weekly Pivot - $1,291 WS1 - $1,271 WS2 - $1,260 WS3 - $1,230 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2022-09-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294546

Yesterday, the next speech of the Chairman of the Federal Reserve System, Jerome Powell, took place. In his speech, he touched on the topic of cryptocurrencies and, in particular, decentralized finance (DeFi). Coincidence or not, bitcoin and ether reacted with a sharp decline to the statements, which led to the return of trading instruments to quite dangerous levels. But before we discuss the technical picture, let's deal with the statements. At a panel discussion on digital finance organized by the Bank of France, Federal Reserve Chairman Jerome Powell spoke about the planned regulation of decentralized finance. "The normalization of monetary policy worldwide is very important for the future. We must deal with structural problems in the Defi ecosystem and conflicts of interest." First, one of the most important problems that Powell drew attention to is the structure of transparency. "The good news is that, from the point of view of financial stability, the interaction between the Defi ecosystem, the traditional banking system, and the traditional financial system is not so great at the moment. The recent sharp collapse of DeFi has not significantly impacted the banking system and financial stability in general," Powell said. According to the official, it is necessary to do a lot of work with regulations, but it should be done carefully and thoughtfully. The Chairman of the Federal Reserve System warned that the uncontrolled situation in the crypto industry would not continue indefinitely. There is now a real need for more substantive regulation so that as Defi expands again and begins to cover more and more retail customers, there will be appropriate regulation. It is worth noting that Christine Lagarde, President of the European Central Bank, and Agustin Carstens, Director General of the Bank for International Settlements, also participated in the discussion. The head of the Fed also noted the risk of using stablecoins in a broader sense and the need to develop legislation in this direction. Powell also touched on the topic of the digital dollar, saying that it will take several more years of research before the Fed decides to issue it or not. As for today's technical picture of bitcoin, as I noted above, the failure of the trading instrument and the return to the framework of the side channel took place quite quickly. This indicates that investors have no interest in risks. The focus is now on the $19,000 resistance, the return of which is necessary to build a new upward correction in the pair. In the case of a breakthrough in this area, you can see a dash up to $19,520 and into the $20,000 area. To build a larger upward trend, you need to break above the resistances: $20,540 and $21,410. If the pressure on bitcoin increases, and all the prerequisites for this, the bulls should make every effort to protect the support of $18,625, just above which trading is now underway. Its breakdown will quickly push the trading instrument back to the lower border of the $18,100 side channel and pave the way for an update of the $17,580 level. Ether has again failed to reach the significant support of $ 1,275, and now there is a risk of building a new bear market. A breakdown of $1,275 can lead to significant changes in the market. Only a fix above $1,343 will somehow calm the situation and return the balance to the ether. Consolidation above $1,343 will stabilize the market direction and push the ether to another correction in the area of $1,402 and $1,457. The further targets will be the areas: $1,504 and $1,550. If the pressure on the trading instrument remains and at the breakdown of $1,275, we can see a new movement of the trading instrument down to the support of $1,210. Its breakdown will push the ether to $ 1,150, where major players will manifest themselves in the market again.   Relevance up to 10:00 2022-09-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322886

While bitcoin and ether are rapidly falling and returning to their annual lows to break through and collapse even lower, South Korean prosecutors are trying to freeze 3,313 bitcoins on two cryptocurrency exchanges, allegedly associated with the founder of Luna, Do Kwon. The coins were moved shortly after a South Korean court issued an arrest warrant for the Terraform Labs co-founder. It is reported that the South Korean authorities have asked several cryptocurrency exchanges to freeze 3,313 bitcoins allegedly associated with the co-founder of Terraform Labs. The coins were transferred to trading platforms shortly after a warrant for Kwon's arrest was issued in South Korea. Yesterday, a representative of the Prosecutor's Office of the Southern District of Seoul said they have evidence that 3,313 BTC belongs to Kwon. The coins were transferred to trading platforms from a wallet allegedly linked to the Luna Foundation Guard (LFG), which was created on September 15. Cryptoquant, the company that handled the investigation, said that the new bitcoin addresses belong to LFG. This conclusion was made based on transaction patterns, related flows, and significant non-public information. By yesterday evening, the Luna foundation rejected the involvement of this cryptocurrency. On Twitter, the company published the bitcoin address of its wallet, adding that LFG has not created any new wallets and has not moved BTC or other tokens that it owns since May 2022. Meanwhile, the location of the founder of Luna is unknown, and he no longer gets in touch. He was believed to be in Singapore, but earlier this month, Singapore police said he was currently out of town. Back on Monday, Kwon tweeted that he was not on the run. Let me remind you that on September 14, a South Korean court issued an arrest warrant for Kwon. He is accused of fraud after the collapse of the Luna cryptocurrency. In addition, it is reported that the Ministry of Foreign Affairs of the country plans to cancel his passport. Yesterday it became known that Interpol had put the co-founder of Terraform Labs, Do Kwon, on the wanted list. The "red notice" that has been issued allows South Korea to receive assistance from law enforcement agencies around the world in finding and arresting a person awaiting extradition, extradition, or similar judicial action. As for today's technical picture of bitcoin, as I noted above, the failure of the trading instrument and the return to the framework of the side channel took place quite quickly. This indicates that investors have no interest in risks. The focus is now on the $19,000 resistance, the return of which is necessary to build a new upward correction in the pair. In the case of a breakthrough in this area, you can see a dash up to $19,520 and into the $20,000 area. To build a larger uptrend, you need to break above the resistances: $20,540 and $21,410. If the pressure on bitcoin increases and all the prerequisites for this, the bulls should make every effort to protect the support of $18,625, just above which trading is now underway. Its breakdown will quickly push the trading instrument back to the lower border of the $18,100 side channel and pave the way for an update of the $17,580 level. Ether has again failed to reach the significant support of $ 1,275, and now there is a risk of building a new bear market. A breakdown of $1,275 can lead to significant changes in the market. Only a fix above $1,343 will somehow calm the situation and return the balance to the ether. Consolidation above $1,343 will stabilize the market direction and push the ether to another correction in the area of $1,402 and $1,457. The further targets will be the areas: $1,504 and $1,550. If the pressure on the trading instrument remains and at the breakdown of $1,275, we can see a new movement of the trading instrument down to the support of $1,210. Its breakdown will push the ether to $ 1,150, where major players will manifest themselves in the market again.   Relevance up to 10:00 2022-09-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322892

Technical outlook: Ethereum dropped close to $1,250 intraday on Wednesday before finding some support. The crypto bounced through the $1,305-10 zone thereafter and is seen to be easing off a bit towards $1,290 at this point in writing.The bulls might be inclined to push through the $1,540-50 levels at least before giving in to the bears again. Also, note that the backside of the support trend line would offer resistance at around $1,550. Ethereum earlier dropped through $1,220 after reversing from $2,031 seen on the 4H chart here. The possibility still remains for a strong rally to carry prices above the $2,031 resistance in the next several trading sessions. The bulls need to break above the $1,800 initial resistance to confirm a further upside thereafter. Ethereum is seen to be working on its recent bearish swing between $1,800 and $1,220. The potential resistance zone is seen towards $1,550 which is the Fibonacci 0.618 retracement of the above drop (not shown here). Only a break above $1,670-1700 will confirm that the bulls are back in control. Trading idea: Potential rally through $1,550 at least against $1,000 Good luck!   Relevance up to 13:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294640

After talking through some interesting crypto news we will look specifically into Solana and how they are planning to go mainstream. 00:00 Intro 00:21 Preview 00:39 Cryptonews 03:07 Bitcoin 05:50 Ethereum 13:03 Cardano 15:01 Solana 17:55 ApeCpoin 18:59 Subscribe & Good bye #crypto #cryptonews #cryptotrading #swissquote  ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH

Crypto Industry News: The Cardano network has always been a competition to the Ethereum blockchain. Of course, this has translated into competition between communities centered around the two chains. This time, however, Cardano founder Charles Hoskinson surprised everyone. He proposes a truce. In a Twitter thread, Charles Hoskinson shared his thoughts on Ethereum and its community. Let us recall that he cooperated with Ethereum (although only for six months and almost ten years ago). Perhaps because of his personal animosities, Hoskinson is sometimes critical of Ethereum. Then he founded Cardano. Today, he seems to be pained by the fact that the Ethereum community continues to ignore the advances Cardano has made over the years. "I've pointed out repeatedly that the top engineers of Ethereum have completely ignored Ouroboros in the last five years," Hoskinson wrote in a tweet. He further argued that this only harms the entire cryptocurrency and blockchain community. He urged users to refrain from falling into this trend, writing that "this means many users are now being forced to make design decisions that are detrimental to them, rather than helping them." "I think that's human nature. But at least we can make a choice not to give in to [the harmful trend]," he added. He further stated that "We don't need to hate anyone or develop bizarre, conspiratorial thinking to achieve our goals. In fact, Cardano does not need cryptocurrency to be successful. " The conciliatory attitude of Cardano's creator comes at an interesting moment when his network went through Vasil's hard fork. However, the project was criticized for a 3-month delay in implementing this change. At the same time, the Merge passed the Ethereum chain, but Vitalik Buterin's team waited for almost 2 years. Technical Market Outlook: The ETH/USD pair had bounced from the demand zone seen between the levels of $1,288 - $1,257, but the bounce was capped at the nearest technical resistance located at $1,358. After the aggressive and dynamic reversal around the level of $1,400, the next target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. The intraday technical support is seen at the level of $1,281, $1,267 and $1,255. Weekly Pivot Points: WR3 - $1,352 WR2 - $1,322 WR1 - $1,302 Weekly Pivot - $1,291 WS1 - $1,271 WS2 - $1,260 WS3 - $1,230 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-09-30 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294769

Crypto Industry News: The CEO of Galaxy Digital - Mike Novogratz - during his speech at the Token 2049 conference, spoke about the fall of Terra and Luna cryptocurrency investors. He stated that many retail investors had lost their investment in the project because they had failed to take into account the risk of volatility. He also accused them of holding their tokens for too long. "It was painful when it all came crashing down," he said. "When a token goes from 20 cents to $ 100 and you are not making a profit, that's crazy." He then pointed to the problem of the lack of a "risk management methodology" by many retail investors who were emotionally buying tokens because they were gaining in value. Speaking at a Singapore conference, Novogratz seemed to be trying to warm up the image of Do Kwon, who is currently being wanted by South Korean authorities on charges of fraud. The Korean prosecutor's office also asked the exchanges to which Terraform Lab's CEO transferred his bitcoins to freeze his assets. Galaxy Digital was one of the investors in the Terra project. What's more, the company's CEO even tattooed the symbol of the Luna cryptocurrency. Novogratz stressed that everything Kwon and Terraform Labs built was fairly transparent and publicly available, which is related to the nature of blockchain technology. Technical Market Outlook: After the aggressive and dynamic reversal around the level of $1,400,The ETH/USD pair has been trading inside a narrow range as the liquidity dries up. Nevertheless, the next target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. The intraday technical support is seen at the level of $1,281, $1,267 and $1,255 and the technical resistance is located at $1,358 and $1,407. Weekly Pivot Points: WR3 - $1,352 WR2 - $1,322 WR1 - $1,302 Weekly Pivot - $1,291 WS1 - $1,271 WS2 - $1,260 WS3 - $1,230 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294961

Crypto Industry News: Meta, the parent company of Facebook and Instagram, has announced another expansion in its digital arts initiative. From September 29, all users of both platforms can combine wallets and share NFT tokens in 100 countries. As part of the feature, which is being tested since May, users will be able to tag creators and collectors, as well as transfer digital collectibles between platforms at no cost. In August, Meta began allowing users to publish their digital collectors' items on Facebook and Instagram, and announced its international expansion to countries in Africa, Asia-Pacific, the Middle East and the Americas. The company also added support for third-party wallets such as Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, and Dapper Wallet, as well as support for Ethereum, Polygon, and Flow Blockchain chains. Several Twitter users at the time expressed concern about the security and privacy of data sent by linking digital wallets to the Meta platform. In April 2021, confidential personal data of more than half a billion Facebook users was leaked on a frequently visited hacking forum. According to Statista data, Facebook and Instagram have 2.9 billion and 1.4 billion monthly active users, respectively. Technical Market Outlook: The ETH/USD pair has been moving lower over the weekend and is currently tradin g just above the demand zone. Nevertheless, the next target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. The intraday technical support is seen at the level of $1,281, $1,267 and $1,255 and the technical resistance is located at $1,358 and $1,407. Weekly Pivot Points: WR3 - $1,360 WR2 - $1,320 WR1 - $1,306 Weekly Pivot - $1,283 WS1 - $1,268 WS2 - $1,245 WS3 - $1,206 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 10:00 2022-10-04 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295177

Crypto Industry News: Instagram star Kim Kardashian will pay $ 1.26 million to the US Securities and Exchange Commission (SEC) to pay fees related to the EthereumMax promotion. According to a SEC release, the Commission blamed the star for non-disclosure of the $ 250,000 impact it received for promoting EthereumMax. Kardashian also agreed not to promote any cryptocurrencies for three years. The celebrity took part in an action called "pump and dump". Received a lot of money for promoting a cryptocurrency of no greater value. It was only "recommended" by famous people, greedy for money. How does pump and dump work? Well, the cryptocurrency creators who have the most of it spend a lot on promotion. The internet users then invest and raise the price of the asset, and then the authors sell all or most of their coins. In this way, we have a "pump", that is, pumping the valuation, and then "dump", that is, getting rid of an asset that has obtained a high valuation due to earlier promotional activities. An unaware investor thinks that he is allocating money into something attractive, and then it turns out that he will not get back what he spent. In 2021, Kim Kardashian shared promotional content on her Instagram. The celebrity has one of the largest amounts of followers on social media. Kardashian has approximately 331 million Instagram fans and nearly 74 million Twitter fans. Technical Market Outlook: The ETH/USD pair has bounced from the demand zone and is heading higher towards the nearest technical resistance located at $1,358. On the other hand, the next target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. The intraday technical support is seen at the level of $1,281, $1,267 and $1,255 and the technical resistance is located at $1,358 and $1,407. Weekly Pivot Points: WR3 - $1,360 WR2 - $1,320 WR1 - $1,306 Weekly Pivot - $1,283 WS1 - $1,268 WS2 - $1,245 WS3 - $1,206 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 09:00 2022-10-05 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295322

Crypto Industry News: Following the proof-of-stake (PoS) transition of the Ethereum network, Ether (ETH) stacking now plays a central role in block validation and network security. However, some community members find the betting process too difficult, especially for the common people. Staking Etherum is too hard, community members say. On the Ethereum subreddit, a community member raised the topic of ETH betting and its difficulties. According to the user, it took him an entire weekend for everything to work. A user said this might be something that people with "tight" schedules cannot accept. In response to the thread, another community member also shared his ETH betting experience and mentioned the origins of Ethereum. The user noted that in those days, interacting with the blockchain was also difficult before more user-friendly options appeared. The community member also stressed that setting up the node requires "more effort than we might expect the average person to put into it." In addition to configuration difficulties, the issue of bandwidth consumption was also raised. Due to the high bandwidth consumption, the user said there was a risk of ISP shutdown. Another user mentioned that the costs of exceeding your internet data cap could possibly kill any staking gains. Technical Market Outlook: The ETH/USD pair has bounced from the demand zone and is heading higher towards the nearest technical resistance located at $1,358 - $1,378. The momentum is strong and positive, so ETH bulls are getting ready to follow the recent BTC rally. On the other hand, the next target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. The intraday technical support is seen at the level of $1,281, $1,267 and $1,255 and the technical resistance is located at $1,358 and $1,407. Weekly Pivot Points: WR3 - $1,360 WR2 - $1,320 WR1 - $1,306 Weekly Pivot - $1,283 WS1 - $1,268 WS2 - $1,245 WS3 - $1,206 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 08:00 2022-10-06 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295499

Ethereum price enters a dangerous technical setup as price action fails to make new highs for October. ETH price is at risk of dropping back to $1,243 later this week. Expect to see pressure building on $1,243 with another leg lower towards $1,100. Ethereum (ETH) price action has been printing some nice gains with 7% on the docket in just two trading days this week. This third trading day indicates a change in sentiment that could see bearish pressures mounting. There is a risk that all gains from this week will be lost, and no new highs for the month will be printed. Further, bears may have an opportunity to break back below $1,200 by the end of the week if dollar strength kicks in. ETH price says goodbye to $1,400 forecast and instead welcomes in $1,200 Ethereum price takes a step back this morning with already -1% on the quote board as markets are rolling over in sentiment and seeing risk assets sold-off. The shift in sentiment comes from geopolitical tensions in Asia, where the US and South Korea have held joint exercises, including several missile attacks in response to North Korea after it launched a missile again on Tuesday. With the emergence of this new tail risk markets are worried that the US is poking the Chinese bear a bit too much. ETH price thus slips 1% for now and looks set to drop back to $1,300. From there, it is not that far to hit $1,243 and challenge that level as bears rush into the price action to drive it into the ground. This is because Ethereum bulls cannot make new highs for the week, which could point to a false bounce off support at $1,243. If that level breaks, $1,100 comes into play with the monthly S1 support level as nearby support to underpin the price action. ETH/USD Daily chart On the other hand, it is quite normal that markets would take a small step back as a three-day-winning streak is quite exceptional unless a big positive catalyst comes into play. If so, and a more bullish catalyst comes into play, expect this to be a phase purely of profit taking, and a small step back before further advances in price action. If so, a rally could materialise and pick up speed again by Friday towards $1,400.

Crypto Industry News: Institutions continue to expand their offerings in the cryptocurrency realm as global regulators increasingly seek to establish a working framework to deal with an emerging asset class as adoption surges. Recently, Fidelity Investments launched a new Ethereum Index fund that will provide its clients with Ether (ETH) exposure, according to a document filed by the company with the SEC on September 26. The new fund accepts a minimum outside investment of $ 50,000, and has already recorded over $ 5 million in reported sales. The multi-million dollar asset manager originally launched its cryptocurrency-focused institutional depository and trading platform Fidelity Digital Assets in 2018. The company now offers two exchange-traded crypto funds that are dedicated to digital payments and the metaverse market. This latest change follows a disclosure last month that Fidelity Investments is considering the idea of allowing all its retail clients to access Bitcoin (BTC) trading directly through its brokerage platform. Fidelity Digital Assets is also part of a group of institutions that support the launch of EDX Markets (EDXM), "a first-of-its-kind exchange that will meet the hidden demand for digital asset trading by enabling safe and compliant digital asset trading through trusted brokers." Technical Market Outlook: The ETH/USD pair keeps heading higher towards the nearest technical resistance located at $1,4017. The momentum is strong and positive on the H4 time frame chart, so ETH bulls are getting ready to follow the recent BTC rally. On the other hand, the next target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. The intraday technical support is seen at the level of $1,372, $1,358 and $1,345 and the technical resistance is located at $1,402 and $1,407. Weekly Pivot Points: WR3 - $1,360 WR2 - $1,320 WR1 - $1,306 Weekly Pivot - $1,283 WS1 - $1,268 WS2 - $1,245 WS3 - $1,206 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-10-07 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295699

Crypto Industry News: Ontario Securities Commission (OSC) chief executive Grant Vingoe said Canadian authorities planned to publish a report in October that will include data on cryptocurrency adoptions in Canada. Reportedly, over 30% of Canadians plan to buy cryptocurrencies in 2024, he adds. Grant Vingoe, CEO of the Ontario Securities Commission, echoed Canada's technology-neutral stance on cryptocurrencies, while saying that many Canadians plan to become HODLers in the near future. In an inaugural address to the Economic Club of Canada on October 6, Vingoe said the stock and bond regulatory base also applies to "cryptocurrency contracts" with "the vast majority of cryptocurrency-backed entities" falling under the jurisdiction of the OSC. "As securities regulators [we must work to ensure that] none of the characteristics of cryptocurrency assets or their underlying technology, neither positive nor negative, determine our regulatory approach. We are not here to pick winners and losers from our investments. We are cautiously and technology-neutral to all new products that come to our market, and we use the same reasoning to evaluate them. " Technical Market Outlook: The ETH/USD pair made a Shooting Star candlestick at the level of $1,348 and started a pull-back. The nearest intraday technical support is seen at the level of $1,317 and the intraday technical resistance is located at the level of $1,358 and $1,372. The larger time frame target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. Nevertheless, the bears would have to break below the demand zone located between the levels of $1,255 - $1,281. Weekly Pivot Points: WR3 - $1,360 WR2 - $1,320 WR1 - $1,306 Weekly Pivot - $1,283 WS1 - $1,268 WS2 - $1,245 WS3 - $1,206 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2022-10-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295860

The market capitalization of the cryptocurrency is actually stuck near the level of $955 billion. Even despite the increase in bullish signals, there are no significant changes in the price movement of the entire market. Why is the crypto market worth it? The main reason for the lack of significant price movement is the DXY index. The indicator peaked at 114, after which it began to decline. However, the corrective movement has not yet passed into the phase of a full-fledged downward trend. And this stops the growth of capitalization of high-risk assets. In 2022, most central banks launched an aggressive monetary policy aimed at fighting inflation by reducing the availability of money. Due to the decrease in financial opportunities, the level of interest in risky assets also falls. The main indicator of interest in high-risk assets is the DXY index. The indicator is gradually starting to decline, while the SPX has shown growth for three days in a row. In the short term, this may mean the emergence of a local bullish trend for major cryptocurrencies. ETH/USD Analysis The main altcoin continues to move within the framework of consolidation in the range of $1,200–$1,400. The cryptocurrency cannot go beyond the zone due to the downward trend line. As of October 7, ETH trading volumes are not enough for a full breakout. Technical metrics continue to point to the continuation of the flat price movement. RSI and stochastic are moving in the bullish zone but without hints of bullish signals. However, given the low trading volumes, if the price breaks out of the range, then this will be an impulsive movement. At the same time, Santiment analysts point to the active growth of new ETH wallets. Glassnode also noted that the number of ETH addresses with a balance of 1 Ether reached an absolute maximum of 1,580,000. This is a positive signal indicating a growing interest in the altcoin, and as a result, an increase in trading volumes. For the past two weeks, ETH has stood still without significant attempts to break out of the range. Given the approaching DXY correction, as well as the growing interest in Ethereum, we should expect the emergence of a local bullish trend. However, it is unlikely that the trading volumes needed to move up will appear over the weekend. BTC/USD Analysis The main news regarding BTC was the increasingly obvious uncorrelation with the S&P 500 stock index. Formally, assets retain the similarity of the dynamics of price movement. However, Bitcoin does not come close to implementing the upward jerks that SPX makes. This may indicate a worrying trend that the upcoming DXY correction will be a bullish leg for the stock market. Throughout the week, the US markets have been talking about the high potential of the S&P 500, NASDAQ, and Jones. As a result, BTC formally follows SPX, but most of the investment is concentrated in the stock market. If this fact is confirmed, then the potential for the likely upward movement of Bitcoin will be much less. Despite the disturbing news about the "relationship" between cryptocurrencies and stock indices, there are also positive signals. Glassnode analysts noted that more than 45% of all BTC have not moved for two years. This is an important signal indicating a high level of long-term investors, who are the main fuel for the fundamental value of the asset. In addition, CryptoQuant shed another ray of light on Bitcoin's commitment to the $20k level. Experts believe that the price of the cryptocurrency is at the level of the aggregate breakeven of institutional investors. This could be another reason for the strong support zone near $20k. Miners continue to be the main suppliers of BTC to crypto exchanges. One of the major American miners, Core Scientific, produced 1,213 in September, which is not 9% less than in August. At the same time, the company had to sell 1,576 BTC, which negatively affected the price of Bitcoin. Conclusions One by one, Fed officials have announced low chances for monetary easing in 2023. Powell has adjusted his inflation forecast for 2023, and now the acceptable figure is at the level of 3%. It's an admission that part of inflation is out of control. With this in mind, cryptocurrency trading volumes will remain near the lows. Therefore, the main stages of price growth will be the correction of the US dollar index. In the medium term, the forecast remains valid—cryptocurrencies will start to grow, and the first visible signals for this may appear next week.   Relevance up to 10:00 2022-10-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/323708

Crypto Industry News: The Indian Reserve Bank listed the advantages and disadvantages of a digital e-rupee. He also provided more details about his CBDC in a 51-page note released on October 7. The Central Bank of India is working to increase awareness of CBDCs, which are developed by many central banks around the world, and to clearly define the goals as well as the potential positive and negative aspects of the digital rupee launch. The bank's document summarizes the key motivations for the issuance of the Indian CBDC project, emphasizing trust, security, liquidity, as well as the finality and integrity of the settlement as key elements of a sovereign digital currency. The main motivator for issuing CBDC in India is to reduce the operational costs of managing cash in the country. In addition to an increasingly resilient, efficient and innovative payment system, the bank also touts the improved financial integration that CBDC can guarantee. On top of that, the system of cross-border payments and settlements may be improved. However, the document also contains the bank's view that cryptocurrencies pose a significant risk to Indian consumers due to exchange rate volatility. "These digital assets undermine India's financial and macroeconomic stability due to their negative impact on the financial sector," it wrote. The central bank also highlighted its concerns that the continued spread of cryptocurrencies would diminish its ability to regulate monetary policy and the monetary system, which it sees as a threat to financial stability in India. The digital rupee has been touted as providing the same benefits as cryptocurrencies while "providing consumer protection" by avoiding what has been termed "harmful social and economic consequences." The note below presents the differences between retail and wholesale CBDCs, the former serving the public sector while the latter serving financial institutions. Authorities suggested that it might be appropriate to bring both forms to the Indian market. Technical Market Outlook: The ETH/USD pair made a Shooting Star candlestick at the level of $1,348 and started a pull-back. The nearest intraday technical support is seen at the level of $1,317 and the intraday technical resistance is located at the level of $1,358 and $1,372. The larger time frame target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. Nevertheless, the bears would have to break below the demand zone located between the levels of $1,255 - $1,281. Weekly Pivot Points: WR3 - $1,369 WR2 - $1,346 WR1 - $1,333 Weekly Pivot - $1,322 WS1 - $1,309 WS2 - $1,299 WS3 - $1,275 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 10:00 2022-10-11 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/296076

BTC and ETH correlation dips. MakerDAO allocates US$500M to bonds. Fidelity launches Ethereum index fund. Chart of the Week: BTC and ETH Still the Perfect Pair? The two largest cryptocurrencies, BTC and ETH, had been moving very much in lockstep, with a correlation (rolling 90-day) of around 0.9 or above (1 would be a perfect correlation), for most of the year. However, since mid-July, the correlation dropped sharply, reaching a low of 0.6 in September. It has since started to crawl back upwards.   The Merge was an idiosyncratic factor specific to ETH back in September and intensifying risk-off sentiment brought about in large part by macro risks (e.g. interest rate hikes, geopolitical tensions) might also have favoured BTC over ETH for some traders, causing the two to move less in lockstep. Our recent report Alpha Navigator (Sep 2022) provides a more in-depth analysis of macro trends and correlations between different crypto coins. Crypto Fund Flow Tracker The aggregated exchange balance for BTC dropped sharply over the past week, perhaps a sign of increasing investor inclination to hold. No significant movements were seen in OTC (over-the-counter) desks’ balance for BTC. OTC desks are typically used by larger investors. Crypto Derivatives Pulse Following ETH, the put-call ratio for BTC is also now at a yearly low, potentially implying less cautious sentiment. Additionally, implied volatilities (vols), another often used measure of risk, are at their lowest since June; 1-month implied vol currently stands at 59.3% (vs. 65.0% a week ago) and 73.0% (vs. 82.7% a week ago) for BTC and ETH, respectively.  Perpetual futures funding rates continue to print positive (longs pay shorts) for BTC, while ETH’s are close to neutral after streaking negative (shorts pay longs) for the past 2-months. Leveraged traders’ net-short position in CME Bitcoin futures appears to have reversed course and has been increasing recently.  Leveraged traders are typically hedge funds and various types of money managers, including commodity trading advisors and commodity pool operators. The traders may be engaged in managing and conducting proprietary futures trading, and trading on behalf of speculative clients. The asset manager category consists of institutional investors, including pension funds, endowments, insurance companies, mutual funds, and those portfolio/investment managers whose clients are predominantly institutional. Crypto Price Movements     Crypto News Highlights MakerDAO, issuer of the stablecoin DAI, has allocated US$500M for investing in U.S. Treasury and corporate bonds, to diversify its reserves. The funds will come from its overcollateralised stablecoin, with 80% going to short-term U.S. Treasury bonds and 20% to investment-grade corporate bonds. Fidelity Investments is launching the Fidelity Ethereum Index Fund, which currently has US$5M in assets. The fund will track the Ethereum price, is available to accredited investors, and the minimum investment is US$50K. Marathon Digital, one of the largest stock-exchange listed Bitcoin miners by market cap, revealed an exposure of US$81.3M in the now-bankrupt Compute North, which was one of the biggest operators of crypto-mining data centres. Crypto asset management firm Grayscale is launching Grayscale Digital Infrastructure Opportunities (GDIO), a private co-investment product focused on Bitcoin mining hardware. GDIO will invest in mining equipment at what Grayscale expects to be discounted prices due to the crypto winter. The equipment will then be used to mine and sell Bitcoin, generating income for investors. BNB Chain, the blockchain of Binance, suspended all deposits and withdrawals after its cross-chain bridge was exploited. It is estimated that the attackers made off with US$100M worth of cryptocurrency.  Catalyst Calendar             Author Research and Insights Team Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Tags CRYPTO CRYPTO RESEARCH CRYPTOCURRENCIES MARKET Source: Market Pulse (10/10/2022) (crypto.com)

According to Token Terminal data, Ethereum protocol revenues are down a whopping 86% in the third quarter, alongside the falling price of the token itself. Declining Ethereum network revenues At its peak last year, revenues generated in November were as high as $1.6 billion. However, the amounts have dropped significantly in previous months. They stood at $82.1, $65.6 and $52.4 million in July, June, and September this year respectively. These sums cannot be considered as revenue for Ethereum's founders and administrators, as there is no centralized company as such. Instead, these revenues were mainly due to the miners and validators of the network, who were de facto responsible for its operation. Will this have an impact on the price of ETH? Revenue from the Ethereum protocol comes primarily from fees charged by the ETH protocol (gas fees). These depend on the demand for Ethereum, which ultimately translates into the token price and fees. Therefore, a strong correlation between the ETH price and revenue is apparent. When the price of the coin fell this year, so did revenues.  Ethereum's protocol revenue may remain low for a long time because the move to Proof-of-Stake (PoS) blockchain has reduced the energy consumption and thus the cost, which for the other side of the transaction is the protocol revenue.  After merge, the token may no longer generate as much revenue as it once did through the current lack of cryptocurrency digging, which absorbed a large part of the cost. In theory, increased demand even with PoS blockchain could translate into increased commissions and network revenue, but it would have to require a gigantic influx of buyers. Ethereum Price, daily candles Source: Conotoxia MT5 Ethereum has been moving in a sideways trend for almost three weeks. Today at 16:00 GMT+3 ETH is losing around 0.3%. Did you know that CFDs allow you to trade on both falling and rising prices? CFDs allow you to open buy and sell positions, and thus invest when quotes rise as well as fall. At Conotoxia, you can choose from CFDs on more than 5,000 financial instruments, including more than 140 CFDs on cryptocurrencies. Wanting to find a CFD on the cryptocurrency of your choice, all you need to do is follow 4 simple steps: To access Trading Universe - a state-of-the-art center for financial, information, investment and social products and services with a single Smart account, register here. Click "Platforms" in the "Invest&Forex" section. Choose one of the accounts: demo or live On the MT5 or cTrader platform, search for the CFD cryptocurrency you are looking for and drag it to the chart window. Use the one-click trading option or open a new order with the right mouse button. Read next: Elon Musk Is Getting Into Geopolitics| Russia And Another Attack| FXMAG.COM Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

Crypto Industry News: It's been over a year since El Salvador recognized bitcoin as legal tender. In late September, the country's president, Nayib Bukele, wrote an article in which he defends his decision regarding the cryptocurrency. According to the President of El Salvador, if his country's bitcoin experiment is successful, many other countries around the world will go in the same direction and start accepting BTC. In an article titled "Stop Drinking the Elite's Kool-Aid", which was published on September 30, 2022 in English and Spanish, Bukele criticized his critics who continue to attack him for his pro-bitcoin policy. . "The most vocal critics are those who fear and pressure us to change our policies, they are the powerful elites of the world and the people who work for them or benefit from them," Bukele explained in his article. "They used to have everything and in a way still have their hands on the media, banks, NGOs, international organizations and almost all governments and corporations in the world," he adds. Bukele also denies reports by "Bloomberg, Forbes, Fortune, Financial Times, Deutsche Welle, BBC, Al Jazeery, The Guardiana, The New York Times, and The Washington Post" claim that "the country's economy has been devastated by a loss of $ 50 million. dollars "that El Salvador has incurred as a result of investing in BTC. The president adds that his country has lost nothing because it has not sold a single bitcoin. Technical Market Outlook: The ETH/USD pair has been seen penetrating the demand zone located between the levels of $1,281 - $1,255. The larger time frame target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. The intraday technical resistance is seen at $1,305. The weak and negative momentum supports the short-term bearish outlook for ETH. Weekly Pivot Points: WR3 - $1,369 WR2 - $1,346 WR1 - $1,333 Weekly Pivot - $1,322 WS1 - $1,309 WS2 - $1,299 WS3 - $1,275 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 09:00 2022-10-12 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade Read more: https://www.instaforex.eu/forex_analysis/296278

The cryptocurrency market and Ethereum continue to move within a narrow range of fluctuations. The main altcoin attempts to leave the area of movement, but rests on a strong area of resistance and fundamental factors. The main altcoin remains dependent on Bitcoin, and, accordingly, on the state of stock indices and Fed policy. Given that the state of the main cryptocurrency leaves much to be desired, Ethereum is moving within a narrow range. Any bullish attempt to exit the corridor ends in failure due to BTC pressure. Markets expect the key rate to rise to 4.5% by early 2023. This means that in the medium term, the growth of Ethereum will be possible with a correction in the US dollar index and a parallel bullish trend in Bitcoin. In the short term, the probability of going beyond the current range of $1,200–$1,400 is unlikely. Ethereum on-chain activity Ethereum network indicators show bullish signals, which is usually a harbinger of an upward movement. Santiment notes a sharp increase in the number of unique addresses in the altcoin network. This may indicate a growing interest in ETH and a likely increase in trading volumes. However, after peaking in mid-September, Ethereum trading volumes continue to fall. This is a negative signal indicating low purchasing power and lack of interest in the asset. Also, low volumes indicate a divergence between trading volumes and the number of unique addresses. This means that an increase in the number of addresses does not provoke an increase in trading activity and, as a result, does not entail an increase in the price. The trading volume metric will likely start to catch up with the growing number of addresses on the ETH network. However, as of October 11, the surge in new addresses does not lead to an increase in trading activity and an increase in ETH/USD quotes. The Net Realized Profit/Loss on-chain metric also indicates low trading activity and a lull in most addresses. On the one hand, this confirms the fact that the growth in the number of unique addresses did not drastically affect the state of ETH. On the other hand, NRPL says that most of the investors have shifted to long-term ownership. ETH/USD technical analysis As of October 11, Ethereum is trading near the $1,300 level. The asset has fallen in price by 5% over the past seven days and continues to move in a narrow range of $1,200–$1,400. As we have already understood, the current volumes of the altcoin will not be enough to independently exit the price fluctuation corridor. Technical metrics confirm the absence of prerequisites for the emergence of impulses. The RSI and the stochastic oscillator are moving flat with no signals for a bullish momentum. The MACD indicator is also moving flat below zero, which indicates that there are no prerequisites for growth in the medium term. ETH/USD will likely continue to fluctuate within the specified range. There are no obvious prerequisites for the formation of an important figure in technical analysis. The coin is still unable to break through the downward trend line, and therefore, when planning active trading actions in relation to ETH, it is important to look first of all at BTC, SPX, and DXY. Moreover, the presence of certain signals on the charts of other financial instruments does not guarantee price movement. In the current stage of the market, trading volumes play a decisive role when trying to leave a range or realize a bullish momentum. Given the minimum volumes of ETH with a growing number of addresses, there is no reason to expect a significant increase (out of range) this week.   Relevance up to 10:00 2022-10-12 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/323969

Crypto Industry News: Ethereum's transition to the proof-of-stake mechanism has opened blockchain to criticism from crypto fans. Many believe that because of this, Ethereum has become more centralized and the risk of censorship has increased. So is Ethereum (ETH) really more centralized and prone to censorship now? Noah Buxton, head of blockchain services at Armanino, answered this question to the online media: "It seems to me, and I can see it also from our clients, that when choosing a blockchain and where we launch a project or where we will create an NFT, the most important thing is the cost of the operation and the current share of blockchain in a given market and retail sales. The decentralization of a given network is a secondary, if not forgotten factor in the decision-making process " First of all, customers want low fees for sending and transactions, as well as be sure that a given blockchain has a lot of users. Therefore, the most important thing is the service price (to be as low as possible) and the size of the market (to be as large as possible). Ethereum, on the other hand, has actually become more centralized after switching to proof-of-stake. Blockchain now relies on validators, not miners, to add new transactions to the network. Validators decide which transactions go to each block and in what order. Electricity consumption has dropped by 99.99% after switching to staking, but hardly anyone realizes that much of the ETH that secures the grid is now in centralized entities. Technical Market Outlook: The ETH/USD pair has been seen bouncing again from the demand zone located between the levels of $1,281 - $1,255 after the level of $1,267 was hit. The larger time frame target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. The intraday technical resistance is seen at $1,305 and $1,326 (30 MA). The weak and negative momentum supports the short-term bearish outlook for ETH. Weekly Pivot Points: WR3 - $1,369 WR2 - $1,346 WR1 - $1,333 Weekly Pivot - $1,322 WS1 - $1,309 WS2 - $1,299 WS3 - $1,275 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 09:00 2022-10-13 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/296471

TL;DR Ethereum’s Merge is part of a transition Ethereum from a Proof of Work blockchain to a Proof of Stake. In general, Proof of Stake offers numerous benefits to scalability and sustainability.  As Ethereum moves to its new sharded structure, the original mainnet’s state will be transferred. This means that ETH holders won’t need to do anything with their coins and should be wary of scammers telling them they need to “transfer” their tokens.    Introduction Ethereum’s long-anticipated move to a Proof of Stake consensus mechanism has, for many HODLers, raised an important question: What do I need to do with my ETH? The question is a good one, as the safety of your funds can be at risk if you don’t fully understand the situation. First, let’s look at the reasons behind Ethereum’s move to Proof of Stake (PoS). Read more on Binance.com  What is Ethereum’s move to Proof of Stake? Since Ethereum’s (ETH) creation, it’s used the same system as Bitcoin (BTC) to generate consensus on new blocks of transactions: Proof of Work (PoW). This consensus mechanism allows miners to reach an agreement without a central authority, even in the face of malicious actors working against them.  Proof of Work, as implemented by Satoshi Nakamoto in the Bitcoin network, created an effective, reliable method for achieving consensus on decentralized networks. To this day, the Bitcoin network still hasn’t been successfully attacked. However, PoW has fallen out of favor with some developers and users. It is often seen as: Energy inefficient. PoW disincentivizes bad actors making large-scale attacks by making it costly in terms of energy. While this is one way of securing the network, staking is now seen as a more sustainable alternative. Inefficient for smart contracts. Using smart contracts can require a large number of network interactions. These have to be added to a block and confirmed to the network. PoW often experiences longer block times and higher transaction fees, making interacting with smart contracts often slower and more expensive. Difficult to independently mine. Becoming a miner on a popular PoW system can be challenging for an individual as the mining landscape is often dominated by a few large mining pools. This may lead to a centralization of mining power, making it hard for individual miners or smaller pools to compete. Difficult to scale. As the network becomes more popular, the number of pending transactions increases. PoW networks will have a limited block size that can only include so many transactions. Periods of high traffic can leave users waiting for hours and even days for their transaction to be added to a block and processed. With Ethereum 2.0, the network will move to PoS and remove the need for mining coins. The goal is to improve Ethereum’s scalability, as well as create additional benefits for users.   Why Proof of Stake? Proof of Stake has proven to be the most popular choice for new blockchain networks. It has several discernible advantages and leads the way in accessibility and scalability. Its drawbacks, while there are a few, are in most eyes minimal compared to the benefits gained.     Benefits Drawbacks An average PoS network user can take part in the validation process with just the network’s native token. Power can still be centralized around large token holders.  Less energy intensive.  Damages a profitable mining industry. Quicker transaction times and finalization. To some critics, PoS is less secure than using cryptographic puzzles to generate consensus.   The road to PoS Ethereum  Moving to PoS can’t be done in one go. Over a few years, Ethereum began a transition to move to its new sharded structure successfully. The journey can be split into a series of phases. Note that the Phase structure is no longer officially used by Ethereum, but is often referred to in this way by other media outlets. The Beacon Chain launch (Phase 0) Phase 0 will see the launch of Ethereum’s Beacon Chain, a PoS blockchain that will manage all Ethereum shards. More specifically, it will organize validators and the staking process, create validator committees, manage consensus generation, and run other key operations. Introduction of sharding (Phase 1) Phase 1 will take the single Ethereum blockchain and split it into 64 sharded blockchains. These blockchains will then be managed by the Beacon Chain launched in Phase 0. However, over time, Ethereum has instead concentrated on the Merge, which now will happen before sharding implementation. The Merge (Phase 1.5) Phase 1.5, also known as The Merge, will bridge the state of the Ethereum mainnet to the new Proof of Stake system. Smart contracts from the old Ethereum mainnet will be available on the new Ethereum network, and the Beacon Chain will be the official organizer of block production. Phase 2 Phase 2 will let shards create new transactions and smart contracts, meaning they’re fully functional. Phase 2 is the last phase with a predefined plan, as Phase 3 will be used to iron out any issues occurring from the launch of Ethereum 2.0   What will happen to my ETH? In short, your funds will be safe, and you won’t need to do anything. The complete Ethereum state will be transferred over to Ethereum 2.0. If you’re holding BETH because you’ve locked ETH in Binance’s Ethereum 2.0 staking product, you’ll soon be able to redeem it for ETH after the Merge. Vitalik has mentioned that the unlocking will take place roughly six months after the Merge. BETH is a wrapped token pegged 1:1 with ETH, distributed to users who locked their ETH with Binance. This gave stakers a liquid, ETH-like asset to use while their funds were locked. For users who wish to, they will be able to swap their BETH back to ETH.   Expectations from users and the community For many, Ethereum’s move to PoS has been eagerly anticipated. With almost every new blockchain now using PoS, there has been immense pressure on Ethereum to catch up. The network is also free from its previous limitations with the benefits of its new consensus mechanism. As PoS is more environmentally friendly, Ethereum will also remove the stigma associated with its previous energy usage. Overall, this may help improve the image of the blockchain world in general.     Closing thoughts The key message to take away from The Merge for HODLers is that you don’t need to do anything with your ETH holdings. So, be wary of anyone telling you that you need to “transfer” or “bridge” your ETH to the new network. Aside from this important fact, Ethereum’s move to Proof of Stake looks to have various benefits for users.

Crypto Industry News: Two giants in the traditional world of finance and payments, JPMorgan and Visa, have announced a new partnership that will focus on improving cross-border payments by leveraging their private Liink and B2B Connect blockchain networks. Liink is a network created by JPMorgan that has been designed specifically for cross-border transfers. It is offered as part of the Onyx bank's blockchain and payments initiative, which provides institutions with a platform to validate transactions and share financial information. B2B Connect was created by Visa to serve as a cross-border payment product for financial institutions and corporate clients. B2B Connect is also integrated with Onyx's Confirm, which is an account information verification product that verifies that the information provided by users is correct and valid. According to Onyx, Confirm is able to verify over 2 billion bank accounts from 3,500 financial institutions. The main goal of the platform is to help reduce unsuccessful payments that are costing the global economy $ 188 billion a year. It is estimated that 66% of failed payments are the result of incorrect account information. B2B Connect has integrated with Confirm to assist with the account verification process. This company was launched in a pilot mode by JPMorgan in 2021. The company recently registered Deutsche Bank as a product founder member in Europe, Middle East and Africa (EMEA). Technical Market Outlook: The ETH/USD pair has been seen bouncing again from the demand zone located between the levels of $1,281 - $1,255, however this bounce was terminated just under the 30 periods moving average. The larger time frame target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. The intraday technical resistance is seen at $1,305 and $1,326 (30 MA). The weak and negative momentum supports the short-term bearish outlook for ETH. Weekly Pivot Points: WR3 - $1,369 WR2 - $1,346 WR1 - $1,333 Weekly Pivot - $1,322 WS1 - $1,309 WS2 - $1,299 WS3 - $1,275 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-10-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/296662

// 🔥 Ethereum Falls After Bad CPI: More Selling Ahead by FieryTrading on TradingView.com Trend Analysis Technical Indicators Chart Patterns   Yesterday I made a short-term analysis on ETH and the fact it was trading in a bearish triangle pattern . Both targets have been hit, congratulations if you took the trade. In this analysis, I want to zoom out a bit. Now that we're trading below the September lows, supported by terrible macro news, I think the bearish trend will continue for a while. I think that we're going to revisit the capitulation lows of last summer at the very least. Potentially even lower, but we'll see by then. 💰Lower Your Trading Fees: https://taplink.cc/fierytrading📈Try my Premium Signals for 🚨FREE🚨: https://t.me/FT_Futures_free🔥Premium channel & 💎Contact: http://www.fierytrading.com🎯Crypto Signals & EXCLUSIVE analyses: https://t.me/FieryTradingChannel Website Source: 🔥 Ethereum Falls After Bad CPI: More Selling Ahead for KRAKEN:ETHUSD by FieryTrading — TradingView

Crypto Industry News: The Portuguese authorities recently announced plans to introduce a 28% tax on cryptocurrencies from the beginning of 2023. The published (in Portuguese) report revealed that the group of government representatives led by the minister of finance really strongly wants 2022 to be the last year in which cryptocurrencies are tax free. Everything points to the end of the Portuguese tax haven for crypto enthusiasts. Pursuant to the provisions of the proposed act, 28% of the tax is to be applied to all digital assets that have been purchased and stored for a period of less than one year. What's more, lawmakers are also pushing to tax all "free cryptocurrency transactions", i.e. primarily crypto received under airdrops - here the tax would be 10%. Conversely, all assets held for more than one year will still retain their status and will not be subject to the new tax. The drafters' plan also provides for 4% taxation of fees charged by brokers. According to the application, any profits resulting from the sale or mining of cryptocurrencies will be considered income and will be subject to the new tax. When tracing the history of such government movements, expect an exodus of cryptocurrency companies outside Portugal - especially mining companies. Already, many people are also wondering whether government interference in the current state of affairs will not be counterproductive and will cause cryptocurrency holders and companies from the industry to flee abroad. Then, not only will they not pay a penny of tax, but they will also stop spending their cryptocurrencies and support the Portuguese economy. It is worth noting that this is not the first time that some Portuguese parliamentarians want to tax digital assets. The last such attempt took place in May 2022 - the idea, however, failed the vote of confidence and was rejected. But observers say this time is different - Portugal is said to be desperate to save falling GDP and a shrinking economy, and terrified by the specter of recession, it may resort to new taxes. Technical Market Outlook: The ETH/USD pair had made a new swing low at the level of $1,191 and ten reversed aggressively back above the demand zone and the middle of the old trading range. The local high was made at the level of $1,341 (at the time of writing the article), but with the strong and positive momentum on the H4 time frame chart, the outlook remains bullish and a target for bulls is seen at $1,358 and $1,372. The demand zone is now located between the levels of $1,191 - $1,1219. Weekly Pivot Points: WR3 - $1,369 WR2 - $1,346 WR1 - $1,333 Weekly Pivot - $1,322 WS1 - $1,309 WS2 - $1,299 WS3 - $1,275 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-10-15 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/296827

TL;DR   WOOFi is an all-in-one decentralized application (DApp) built by WOO Network. The main goal of WOOFi is to enhance users’ experience with decentralized finance (DeFi) by providing reduced slippage, competitive swap fees, and other useful features. WOOFi users can swap popular digital assets and access income-earning opportunities like staking and providing liquidity to the network. One of the platform’s main value propositions for DeFi users is deep liquidity. Introduction Since 2020, decentralized exchanges (DEXes) have experienced rapid growth. In August 2022 alone, the monthly DEX total trading volume exceeded $66 billion. To meet the ever-growing demand for low-fee on-chain trading, WOO Network launched WOOFi in October 2021 and WOOFi DEX in June 2022. Together, WOOFi and WOOFi DEX offer a suite of tools from those enabling simple swaps all the way to professional trading interfaces. Learn more on Binance.com How does WOOFi work? WOOFi’s product offerings are designed to help DeFi users access competitive prices, low fees, tight bid-ask spreads, as well as a variety of yield-generating opportunities. The platform offers three main use cases: Swapping  By paying a minimal 0.025% fee with WOOFi Swap, users can swap popular, financially-sound, blue-chip assets within or across chains supported by WOOFi. Earning Anyone can deposit digital assets to earn competitive APYs through WOOFi’s single-sided staking solution, Supercharger Vaults. Single-sided staking requires users to stake only one type of token. This model incentivizes asset holders to provide liquidity to WOOFi, in turn enabling WOOFi to offer better liquidity to traders. Staking Token holders can stake their WOO tokens on the WOOFi platform to earn revenue from WOOFi’s minimal 0.025% swap fee. WOOFi Swap Unlike other DApps, WOOFi simulates the deep liquidity from WOO Network’s centralized exchange, WOO X, meaning users can enjoy DeFi services with more affordable, CeFi-grade prices. Other advantages of using this model include reduced slippage and increased resistance to sandwich attacks. Slippage refers to the difference between the asset’s market price and its actual price upon order execution. It is more likely to get wider when market conditions are volatile or when trading with low-liquidity assets, causing traders to buy or sell their assets for more or less than expected. WOOFi DEX Launched in June 2022, WOOFi DEX is WOO Network’s decentralized exchange powered by Orderly Network. The platform was designed to bring high liquidity, advanced trading tools, a customizable user interface (UI), and a transparent order book to NEAR protocol. WOOFi DEX helps connect traders with a platform that offers faster execution and lower fees, in addition to allowing traders to maintain custody of their assets.  WOOFi DEX facilitates spot trading of popular blue-chip assets like BTC, ETH, and NEAR. In the future, the platform is expected to expand its services and implement functionalities like margin trading, perpetual swaps, lending, and even borrowing. Bootstrapped by leading market makers like Kronos Research, AGBuild, and Ledger Prime, WOOFi DEX is positioned to deliver an improved DeFi trading experience that has the look and feel of a centralized exchange.  WOOFi Supercharger vaults WOOFi enables users to deposit a single token and earn competitive yields while maintaining complete exposure to their favorite assets. Up to 90% of the assets in the Supercharger vault can be borrowed by WOOFi’s liquidity provider at a fixed rate to provide liquidity to WOOFi. The remaining assets are deployed to third-party DeFi protocols for external yield farming. By hedging on WOO Network’s centralized exchange, WOO X, and therefore remaining market-neutral, WOOFi’s liquidity providers can ensure that there are always sufficient funds for users to withdraw upon request. This dual strategy enables depositors to directly benefit from two separate sources of revenue while providing liquidity to WOOFi. Users can request to withdraw their deposited assets with no fee or limit (except when the vault is under settlement) once the 7-day settlement cycle is complete. Ten percent of each Supercharger vault’s Total Value Locked (TVL) will be set aside each week for instant withdrawals, though a 0.3% withdrawal fee will be charged to prevent abuse of this system. What makes WOOFi unique? sPMM liquidity model Instead of adopting an automated market maker (AMM) model like most other DEXes, WOOFi leverages an innovative synthetic proactive market making (sPMM) approach to achieve deeper liquidity. The sPMM model aims to simulate the deep liquidity from WOO Network’s centralized exchange, WOO X, allowing the WOOFi Swap to offer lower slippage and competitive DeFi prices while staying decentralized. Protection against sandwich attacks A sandwich attack occurs when a malicious trader places one order before and one after a pending transaction on a DeFi protocol to manipulate asset prices. An exploiter thus pushes an asset price up by placing a bid at a higher price than a victim’s pending bid price. When the victim buys at the higher price, the attacker can sell their asset at the new, artificially inflated price.  Sandwich attacks are common among large traders who swap assets with AMM-based DEXes. Since AMM price discovery is driven by the token balances in the liquidity pool, attackers can take advantage of this transparency to inflate prices. In contrast, WOOFi’s sPMM price discovery is determined by the parameters of on-chain price feeds instead of pool liquidity. Bad actors will not be able to predict prices based on token balances. The DEX that pays for order flow Currently, WOOFi has a broker program in place, where it pays 0.5 basis points (bps) on the volume sent by third-party DApps as a rebate.  What is WOO?   WOO is the native token used by WOOFi and the larger suite of WOO products. It provides staking rewards, fee discounts, and governance rights across the WOO Network ecosystem.  How to buy WOO on Binance?   You can buy WOO on cryptocurrency exchanges like Binance.  1. Log in to your Binance account and go to [Trade] -> [Spot].  2. Type “WOO” on the search bar to see the available trading pairs. We will use WOO/BUSD as an example. 3. Go to the [Spot] box and enter the amount of WOO you want to buy. In this example, we will use a Market order. Click [Buy WOO] to confirm your order, and the purchased WOO will be credited to your Spot Wallet. Closing thoughts   The unique liquidity model that WOOFi uses was designed to mimic a traditional exchange’s order book to offer key benefits like deeper liquidity, more competitive prices, and overall a better DeFi trading experience. Those looking for reduced slippage can check out WOOFi and the larger WOO ecosystem for more information.

Crypto Industry News: Tether, the company responsible for issuing the largest stablecoin in terms of USDT market capitalization, announced that it has completely eliminated commercial papers from its reserves, a long-sought target in its first attempts to strengthen treasury reserves. "The communique is part of Tether's continued efforts to increase transparency, with investor protection at the heart of Tethers' reserve management," reads the Tether announcement. CTO of Tether, Paolo Ardoino, was quoted earlier this year saying the company intends to reduce its exposure to commercial papers by the end of 2022. Achieving this required the elimination of over $ 30 billion in commercial assets, which Tether said were achieved "without any loss", which the stablecoin provider says is "evidence of how Tethers reserves are conservatively and professionally managed". Technical Market Outlook: The ETH/USD pair had made a new local low at the level of $1,267 in the form of a Pin Bar and ten reversed aggressively back towards the middle of the trading range. The local high was made at the level of $1,314 (at the time of writing the article), but with the strong and positive momentum on the H4 time frame chart, the outlook remains bullish and a target for bulls is seen at $1,358 and $1,372. Please keep an eye on the market behavior close to the local trend line (market orange on chart). The demand zone is now located between the levels of $1,191 - $1,1219. Weekly Pivot Points: WR3 - $1,333 WR2 - $1,318 WR1 - $1,311 Weekly Pivot - $1,302 WS1 - $1,295 WS2 - $1,286 WS3 - $1,270 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-10-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297024

Follow us on Google News Price of Bitcoin decreased, so did ETH/USD Bitcoin declined 0.8% over the past week, ending near $19,300. The start of the new week brought no significant changes in price. Aside from big market moves on Thursday and Friday, the exchange rate remains chained to the current price. Ethereum lost 0.9% to $1310. Other top altcoins in the top 10 fell in price from 1.8% (BNB) to 12.5% (Cardano). Total cryptocurrency market capitalisation, according to CoinMarketCap, sank 2% over the week to $925 billion. The cryptocurrency Fear & Greed Index was down to 20 by Monday versus 22 a week earlier and 24 a day earlier and remains in a state of "extreme fear. Despite the negative external backdrop, BTC has successfully attempted to hold its September lows against much more worrisome sentiment in the stock markets. We view the idea of cryptocurrencies as safe-haven assets as untenable and see this stability in the prices of major cryptocurrencies as a manifestation of solid internal demand for risk. DBS Bank of Singapore points advantage of the leading cryptocurrency Despite high price volatility, DBS Bank of Singapore called Bitcoin an effective tool for clearing transactions. The BTC market operates 24/7, so investors can get money and liquidity when needed. Cryptocurrency wallet MetaMask will launch a new option allowing U.S. customers to buy cryptocurrency directly from their bank accounts. China has floated the idea of a pan-Asian digital currency to reduce the dependence of the region's economies on the U.S. dollar. Tether completely removed the shares of commercial companies used to back USDT Stablecoin. Meanwhile, digital asset management company CoinShares unveiled a new experimental solution to determine the fair market value of non-transferable tokens (NFT) based on artificial intelligence.

In this article: Ethereum price Read next: JP Morgan Net Income Over $9B | Kanye West Is Buying Parler| FXMAG.COM Red lines- bearish channel green lines- trading range Ethereum is trading around $1,314. Price continues to respect on a daily closing basis the key horizontal support of $1,270. Price continues to move sideways since mid September inside the trading range of $1,270-$1,400. Ethereum remains vulnerable to the downside since it still inside the red downward sloping channel. The market has remained stable over the last few weeks with no clear direction. Traders better remain patient and wait for a break below $1,270 or above $1,400 in order to act. Aggressive traders will look to buy near key support of $1,270 and sell near resistance of $1,400. Relevance up to 14:00 2022-10-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297103

Crypto Industry News: Bank of America found that rich young Americans are 7.5 times more likely to have cryptocurrencies in their wallets than investors 43 and older. "If the youngest cohort is unsure of the stock market, where does it see opportunities for investment growth? Alternatives, including cryptocurrencies, are their # 1 choice, "wrote the bank. Bank of America released this week's study of wealthy Americans' investment preferences. The report was prepared on the basis of an Internet survey conducted in the period from May to June, among 1,052 people over the age of 21 with assets allocated for investments worth over USD 3 million. What were the results obtained? As it turned out, "the age group 21 to 42 has only a quarter of their equity portfolio, compared with 55% for investors aged 43 and over." "While 29% of younger people say cryptocurrencies are the leading wealth-generating opportunity, only 7% of the older group agreed," he added. Bank of America stressed that age is "the dominant factor when it comes to interest in cryptocurrencies," explaining: "While the overall use of [cryptocurrencies] is low, younger people are 7.5 times more likely to hold cryptocurrencies in their wallets and five times more likely to say that they understand them quite well." Technical Market Outlook: The ETH/USD pair has been seen trading just below the last week high located at $1,344. The local high was made at the level of $1,342 (at the time of writing the article), but with the strong and positive momentum on the H4 time frame chart, the outlook remains bullish and a target for bulls is seen at $1,358 and $1,372. Please keep an eye on the market behavior close to the local trend line (marked orange on chart). The demand zone is now located between the levels of $1,191 - $1,1219. Weekly Pivot Points: WR3 - $1,333 WR2 - $1,318 WR1 - $1,311 Weekly Pivot - $1,302 WS1 - $1,295 WS2 - $1,286 WS3 - $1,270 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 06:00 2022-10-19 UTC+00 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297196

Ethereum continues to fluctuate within the narrow range of $1,150–$1,400 for exactly a month. The main altcoin made attempts to go beyond the range, but low trading volumes did not allow the asset to realize impulses. Despite this, the situation is changing for the better in the short term. Ethereum managed to successfully gain a foothold above $1,300, which opens up the possibility of an upward movement to $1,500 and $1,600 for the altcoin. However, for the final resumption of growth, the asset needs to gain a foothold above $ 1,340. After the formation of the second bullish candle in a row on the daily timeframe, the asset takes a pause. The RSI index and the stochastic oscillator remain in the bullish zone, but are turning sideways. The MACD is also moving flat, which indicates the absence of strong bullish momentum. Therefore, the current increase in ETH should be considered in the short term. Ethereum on-chain activity The main on-chain indicators of Ethereum are at below average levels. However, there is a tendency to increase trading volumes and the activity of unique addresses in parallel with the upward movement of the asset price. This is a positive signal indicating the probability of the continuation of the upward trend of the cryptocurrency. Analysis of BTC, SPX, and DXY A full-fledged upward movement of Ethereum is impossible without positive signals on BTC and S&P 500. On the daily chart, we see a similar upward movement of the stock index and Bitcoin. Thanks to this, the entire crypto market took a small step upward and the market capitalization grew by 1.5%. At the same time, the US dollar index has moved to a phase of local decline, which gives the stock market and Bitcoin additional fuel for growth. Given this, high-risk assets will continue to grow as the DXY index corrects. However, the current state of the global economy and the Fed's policies lead to the conclusion that the current upward movement in assets is short-term. Crypto Market and ETH News After the Merge update, Ethereum lost about 20% of its market capitalization, which led to the leveling of some of the new features of the altcoin. For example, ETH stopped being deflationary after a massive drop in trading activity on the cryptocurrency network. Ethereum also has problems with censorship, as about 50% of validators can block transactions in accordance with US sanctions. The volatility of the cryptocurrency market has fallen to a minimum, which indicates a significant decrease in investment interest. Meanwhile, Bitcoin is approaching the 2018 cycle low. The asset has been at the bottom of 886 since the halving. In 2018, the duration of being at the bottom was 891 days. Given the propensity of bear markets to lengthen, we expect to be within the current ranges for at least a month. 98% of leaders of large companies expect a recession in the US economy in the next 12–18 months. It is these terms that should be used when analyzing the likelihood of a radical change in the situation in the crypto market and in the global economy. Conclusions Ethereum made a successful but insignificant maneuver in the overall price dynamics. Altcoin can reach the $1,500–$1,600 level if on-chain activity continues to grow with the price. However, this will not fundamentally change the situation on the market. This is a great opportunity for active traders, but the only thing left in the long-term strategy is to buy and accumulate.   Relevance up to 07:00 2022-10-19 UTC+00 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/324590

Table of Contents Crypto Market Overview Top Altcoin Gainers and Losers News Highlights This Week Bitcoin (BTC/USDT) Analysis on KuCoin Chart   The crypto market remains fairly stagnant to slightly positive in the past week, with most top100 coins staying within the single-digit profit/loss mark. The slightly positive outlook came as a response to a positive start of the week for the US equities market, which managed to jump up 2-3% week-over-week.   The overall cryptocurrency market volume in the past 24 hours came up to $50.23 billion - just $30 million less than the previous week. The overall crypto market cap has remained above the $900 billion mark, now totaling $935.89. This ended up being an overall decrease of about $40 billion compared to the previous week.   Let's delve deeper and take a quick look at the latest crypto market news and BTC's technical outlook.   Crypto Market Overview Bitcoin's drop below the $20,000 mark is still proving to be a tough pill to swallow, as the slow market can’t seem to approach this price level with enough confidence. BTC’s dominance is solidifying near the 40% mark, now standing at just over 39%. The most valuable cryptocurrency pair, BTC/USDT, is currently trading at $19,582.28, while Ethereum, the second-largest cryptocurrency by market capitalization, has increased to $1,326.73, up 2.69% in the last week.   The top performers from the previous week were Huobi Token (HT), Casper (CSPR), and Quant (QNT. HT has increased by 46.70%, while CSPR gained 36.48% in the past seven days. Finally, QNT gained 32.09%.     Cryptocurrency Market Heatmap | Source: Coin360   On the other hand, TerraClassicUSD (USTC), Klaytn (KLAY), and ApeCoin (APE) were the worst performers of the week. USTC is down 32.92%; KLAY is down 18.69% in the last seven days; APE is down 13.67%.   Top Altcoin Gainers and Losers Top Altcoin Gainers: Huobi Token (HT) ➠ 42.70% Casper (CSPR) ➠ 36.48% Quant (QNT) ➠ 32.09% Top Altcoin Losers: TerraClassicUSD (USTC) ➠ 32.92% Klaytn (KLAY) ➠ 18.69% ApeCoin (APE) ➠ 13.67% News Highlights Here are some of the events that made the previous week's crypto news section stand out:   Ethereum Community Debates Over OFAC Compliance Ethereum validators have come to the public’s eye after a report has shown that over 51% of Ethereum blocks are now complying with the US TornadoCash sanctions after transitioning to a proof-of-stake (PoS) consensus algorithm.   Ethereum co-founder Vitalik Buterin expressed his belief that solo validators can choose what they do and don’t comply with, and that this behavior should be tolerated.   Vitalik Buterin made the comment in reply to a Twitter poll, discussing a hypothetical scenario whereby a validator censors a transaction just because it may not align with their beliefs.   Adding to that, Ethereum bulls have stated that “not even a single” transaction has been censored on the network. Cyber Capital founder and CIO Justin Bons argued that not a single transaction on Ethereum has been stopped as a result of Office of Foreign Assets Control (OFAC) sanctions. In fact, all non-compliant transactions have been processed in around 30 seconds as well, he stated.   KuCoin Exchange Expands its 0-fee Campaign KuCoin Exchange has announced the extension of its 0-fee BTC & ETH trading event. This means that, until Nov 02, 2022, traders can trade their favorite ETH and BTC pairs with no fees whatsoever.   Updated Event Duration: 10/19/2022 10:00 — 11/02/2022 10:00 (UTC)   As a result of its user-focused business approach, and boosted by incentives such as this promotion, KuCoin Exchange has briefly climbed to the spot of the second-largest spot exchange in the world.   European Union Commissioner Pushes for Faster Crypto Regulation The European Union has been processing and passing its landmark crypto framework for quite some time now. However, according to the European Commission’s financial services commissioner Mairead McGuinness, global crypto regulation needs to happen faster.   The remarks were made during McGuinness’s visit to Washington DC, where the commissioner stated that the regulatory efforts should take a global character and that she wants to see the regulation happen in other countries as well.   Germany Becomes the Most Favorable Crypto Economy Germany has managed to become the world’s most favorable economy for crypto in Q2 2022, according to a Coincub report. The United States, on the other hand, lost the first place and is now stationed as the seventh-most favorable.   The list also includes Switzerland at 2nd place, Australia at 3rd, UAE at 4th, Singapore at 5th, and Malaysia at 6th.   The crypto economy rankings took at look at numerous factors, including a favorable crypto outlook, clear digital asset tax rules, and more transparent regulatory communications.   The Fear & Greed Index at 22, Market Sentiment Bearish The fear and greed index has stabilized near the previous week’s levels after a huge drop from three weeks ago, when the number that represents crypto sentiment dropped from 45 to 24. The indicator now indicates “extreme fear” with a mark of 22, caused by the sudden drop of Bitcoin and other cryptocurrencies.     Fear & Greed Index | Source: Alternative   Crypto Calendar: Events to Watch This Week ➺ 18/10/2022 - AVAX - Avalanche Banff (V1.9.0) ➺ 20/10/2022 - ZIL - YouTube & Twitter AMA ➺ 21/10/2022 - LTC - Litecoin Summit 2022 ➺ 23/10/2022 - AVAX - Avalanche Creates   Bitcoin (BTC/USDT) Analysis on KuCoin Chart The largest cryptocurrency by market cap has been trading sideways for the past week, with its price ranging from $18,121 to $19,952. Unfortunately, BTC bulls haven’t been able to break the $20,000 barrier, which has proven to be a strong resistance level.   At the moment, Bitcoin is trading under the 50-day moving average (MA), which sits at the $19,672 level. If it manages to break the moving average level, this line could prove as a strong support point. However, BTC’s upside is still bound by a strong resistance zone between $20,000 and $20,500.   On the other hand, some analysts are showing that the largest cryptocurrency by market cap has been creating a triangle formation since its Sep 13 drop and that its push toward the upside indicates a slight positive sentiment.     BTC/USDT Chart on the Daily Timeframe | Source: KuCoin   When it comes to support and resistance levels, Bitcoin is likely to encounter resistance to the upside at an area between $20,000 and $20,500. On the other side, analysts state that traders should watch out for $18,135, as this is the only level separating Bitcoin from the $17,550 level.   Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.     Sign up on KuCoin, and start trading today!   Follow us on Twitter >>> https://twitter.com/kucoincom   Join us on Telegram >>> https://t.me/Kucoin_Exchange   Download KuCoin App >>> https://www.kucoin.com/download   Also, Subscribe to our Youtube Channel >>>Listen to 60s Podcast Source: KuCoin

Crypto Industry News: In March 2021, Jack Dorsey's historic first tweet was sold for $ 2.9 million. Today it is only worth $ 132. This shows a certain negative phenomenon: during a bull market, investors are able to pay for certain assets completely detached from the realities of the price. In the spring of 2021, Dorsey put his first tweet up for auction. It was significant that the post represented the NFT. It was almost the middle of the bull market on the token market. As a result, the founder of Twitter received as much as USD 2.9 million for it. He converted the dollars into bitcoins and donated to the NGO Give Directly. NFT has acquired Sina Estavi, CEO of Bridge Oracle cryptocurrency. It was not just about helping in a just cause, because the businessman posted a tweet (NFT) on the stock exchange a few days later. He wanted to get as much as $ 48 million for it. Half of the amount was to be spent on charity. The problem is that the highest bidder was around $ 280. So Estavi fielded the NFT again. This time, the most wanted to pay $ 132.72 for it. So he canceled the auction again. The most interested himself also has other big problems. In May 2021, he was arrested for "disrupting the economic system" in Iran and charged with misleading investors. He is now free and probably returned to the topic of selling the NFT. Technical Market Outlook: The ETH/USD pair has been continuing trading just below the last week high located at $1,344, so the market is range bounded. The local high was made at the level of $1,340 and then the market reversed lower towards the middle of the range The nearest technical support is seen at $1,281 and $1,267. Please keep an eye on the market behavior close to the local trend line (marked orange on chart). The demand zone is now located between the levels of $1,191 - $1,1219. Weekly Pivot Points: WR3 - $1,333 WR2 - $1,318 WR1 - $1,311 Weekly Pivot - $1,302 WS1 - $1,295 WS2 - $1,286 WS3 - $1,270 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2022-10-20 UTC+00 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297457

TL;DR Bitcoin dominance is the share of the original cryptocurrency, BTC, in the entire crypto market’s capitalization. For quite some time since its inception in 2009, bitcoin remained the only digital asset in existence and thus, naturally, solely accounted for all the crypto market’s capitalization. However, over time, things started to change. The year 2013 saw the first wave of altcoins that added their value to the crypto market cap’s formula. 2015 was the birth of Ethereum — Bitcoin’s closest rival that spawned the currency ether — and then, in 2017, the ICO boom resulted in BTC dominance further diluted and hitting an all-time low, only to recover to above 50% in a few months. Today, BTC dominance faces its heaviest competition in DeFi, NFT and metaverse tokens, and over 20,000 non-bitcoin cryptocurrencies. Introduction Bitcoin, the world’s first cryptocurrency, was launched to the public in 2009 by an anonymous developer or group of developers known as Satoshi Nakomoto. Since then, despite the emergence of competition, bitcoin has remained the world's largest and most valuable cryptocurrency. Its underlying technology has also inspired the development of thousands of new cryptocurrencies collectively known as alternative coins, or altcoins.  Bitcoin’s standing against the rest of digital assets continues to be hugely important and indicative of the state of the overall crypto market. To measure bitcoin’s market cap relative to the larger crypto market, traders and analysts use a ratio called bitcoin dominance, also known as BTC dominance. Learn more on Binance.com What is BTC Dominance? BTC dominance is the share of bitcoin in the crypto market’s overall value. It is calculated by dividing BTC’s market cap by the total cryptocurrency market cap.  But why is it important? Historically, traders have used BTC dominance to help understand whether altcoins are on an up or downtrend against bitcoin. For example, one popular theory is that the crypto market is heading into a bull market if altcoins are trending up. In 2017, for instance, a significant decline in BTC dominance signaled altcoin prices skyrocketing (rather than BTC price declining), coinciding with the entire market entering a bull phase. From One Cryptocurrency to Thousands In 2011, the first altcoin, litecoin, was born, and in 2013 — dubbed “the year of the bitcoin” by Forbes magazine — the number of new altcoins entering the market began to rise quickly. By May 2013, the crypto market counted at least ten tokens, including litecoin (LTC) and Ripple’s XRP.  Concurrently, bitcoin’s price skyrocketed as more investors discovered the digital asset space for the first time. Yet, even with a few newcomers to compete against, BTC dominance remained at around 95% during this period.  The birth of Ethereum In 2015, Vitalik Buterin and a team of developers launched the Ethereum (ETH) network. It set to rival Bitcoin as a blockchain that allowed more use cases beyond financial services like the transfer of money. Unfazed by the competition in Ethereum’s native token, ether (ETH), bitcoin continued to account for around 90-95% of the crypto market. Things only started to change in 2017 — the start of the initial coin offering (ICO) boom. ICO fever  Initial coin offerings (ICOs), a popular crowdfunding method for early-stage crypto projects, became a prominent trend from 2017 to 2018. There were around 2000 unique ICOs during this period, with over $10 billion raised cumulatively. Funds began flowing from bitcoin into many of the newer altcoins that surfaced at that time. Some investors believed in the compelling, yet unproven, use cases, while some were more interested in profiting off dramatic price swings.  The unprecedented influx of altcoin competition resulted in bitcoin dominance experiencing its first major decline, dropping to an all-time low of around 37% in January 2018.  2018’s crypto winter While it had generated considerable attention toward crypto, the ICO boom was ultimately short-lived. Investors realized that many ICO projects lacked core fundamentals or had questionable business practices. Some projects even became the target of regulatory scrutiny by the U.S. and other authorities. This increase in negative sentiment eventually overtook the industry, sending the entire crypto market into a prolonged period of price decline and stagnation. Bitcoin’s recovery With many altcoins’ value tanking and investors’ general disillusionment in ICOs, BTC dominance gradually climbed back to over 50% by the final months of 2018.  In 2019, bitcoin’s price experienced a slight resurgence, trading at around $7,000 by the end of the year, while BTC dominance peaked at about 70% in September. The digital asset, however, would remain relatively still until the COVID-19 pandemic struck the world in 2020. The COVID market Beginning in 2020 — in the aftermath of a short, COVID-fulled dip — the crypto market would enter a record-breaking bull run. Simultaneously, BTC dominance would reach 72% in January 2021, its highest tally since 2017, before collapsing to 39% by mid-2021.  With the looming pandemic, many people, bored and stuck at home, turned to day trading and investing to pass the time. Meanwhile, to offset the pandemic’s economic downturn, governments around the world issued cash handouts to stimulate their struggling economies. Retail traders invested a considerable portion of these funds in stocks, forex, or the crypto market for the first time. Now, following all the media attention to crypto during the latter half of 2020, altcoins became an increasingly attractive, albeit risky, choice for retail investors, especially newcomers looking for quick gains. For example, shiba inu (SHIB) saw its price go up more than 40 million percent in 2021.  Further, the rapid growth of innovations like decentralized finance (DeFI) and NFTs, which primarily exist on competing blockchains like Ethereum and Solana (SOL), contributed to bitcoin losing more of its market share. Solana’s price, for example, increased from $1.50 to an all-time high of $250 in 2021 after gaining significant institutional and retail interest in its underlying technology.  Since then, BTC dominance has struggled to climb over 50%. BTC dominance’s recent slow growth may have something to do with ETH 2.0, Ethereum’s long-awaited switch to proof-of-stake, and the ongoing bear market.    Clothing Thoughts In recent years, the growth of the altcoin market has diluted bitcoin’s market share. Unlike the early years, when there were very few competitors, bitcoin now competes against DeFi tokens, the increasingly popular NFT sector, and thousands of other cryptocurrencies.  Even so, bitcoin is still the leading cryptocurrency in terms of market cap, with BTC dominance unlikely to go away anytime soon. For starters, many investors see bitcoin as a store of value because of its finite supply — hence the nickname “digital gold.” But most importantly, bitcoin’s status as the industry’s first-ever cryptocurrency has given it a competitive edge in the digital asset market. However, history has shown if something better comes along, that first-mover advantage won’t last very long. It remains to be seen if there’ll ever be another cryptocurrency to dominate the crypto market as much as bitcoin has so far.

Crypto Industry News: We've barely forgotten about Merge, and another Ethereum update is on the horizon. This time, developers want to focus on, among others on lowering gas charges. The new trial version is now available. The Pre-Shanghai test network was named Shandong. This means that developers can prepare for deployments. The update is to take place in 2023. Most likely in the second half. This will be the first Ethereum cryptocurrency update since the transition from proof-of-work to proof-of-stake, Merge, which took place in September 2022. There will be many changes, and depending on the sources, different priorities are indicated. The most common talk of a few updates: EIP-4895 - is to enable users to pay out setH and won prizes via Beacon Chain. EIP-4844 - to offload the main Ethereum network and process operations in layer 2 networks. This is expected to increase network capacity and potentially also contribute to reducing gas bills. EIP-3540 - Separates encoding from data, which improves performance and allows easier changes to the Ethereum Virtual Machine. All these changes are expected to positively affect the performance and bandwidth of Ethereum. In addition, at least some of them may also have a positive impact on the experience of ordinary users - you would certainly appreciate the reduction in gas fees. Technical Market Outlook: The ETH/USD pair moves lower again as the momentum on the H4 time frame chart is now weak and negative. The local high was made at the level of $1,340 and then the market reversed lower towards the middle of the range The nearest technical support is seen at $1,281 and $1,267. Please keep an eye on the market behavior close to the local trend line (marked orange on chart). The demand zone is now located between the levels of $1,191 - $1,1219. Weekly Pivot Points: WR3 - $1,333 WR2 - $1,318 WR1 - $1,311 Weekly Pivot - $1,302 WS1 - $1,295 WS2 - $1,286 WS3 - $1,270 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 07:00 2022-10-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297563

Weekly DeFi Index This week’s market cap, volume, and volatility indices were positive at +3.29%, +13.50%, and +73.12%, respectively. Check the latest prices on Crypto.com/Price DeFi Index Tokens News Highlight Uniswap, a decentralised exchange protocol operating on Ethereum, will soon be deployed on privacy-focused Layer-2 tool zkSync. The proposal was put forth by Matter Labs, the developer behind zkSync, and was passed following a 100% community vote in favour of the move. According to Matter Labs, deploying to zkSync will allow Uniswap to offer lower transaction costs compared to the Ethereum blockchain without compromising security. This also follows Uniswap Labs’s latest announcement that it raised US$165 million in Series B funding led by Polychain Capital.  Aptos finally hit the mainnet after years of development, but the rollout so far has been met with criticism. Months prior to launch, Aptos claimed that it can handle 130,000 transactions per second (TPS) — significantly more than other layer-1 solutions like Ethereum and Solana — but it was observed to only have reached a speed of 4 TPS at launch. A pseudonymous user tweeted: “majority of these transactions are not actual transactions, they are merely validators communicating and setting block checkpoints and writing metadata to the blockchain”. There were also concerns around the lack of publicity of its tokenomics, despite the fact that most centralised exchanges already announced listing Aptos’s native token on their platforms.  On Friday, The Ethereum Foundation announced the launch of ‘Shandong’, an early pre-Shanghai testnet that will serve as a testing ground for numerous Ethereum Improvement Proposals (EIPs). Shanghai is Ethereum’s next major upgrade post-Merge, and will introduce code that will allow network validators to withdraw their staked Ether. DEX Protocols Metrics Lending Protocols Metrics Charts on Layer-2 Projects The overall L2 market saw positive growth last week, as its TVL rose by +0.78%. Optimistic rollup projects jumped by +3.29%, while zero-knowledge rollup projects fell by -5.63%. Ethereum’s TVL change was positive at +0.61%. The TVL changes for all optimistic rollup projects were all positive except for Layer 2.Finance (-0.45%). Metis Andromeda surged the most at +12.90%. ZK rollup projects’ TVL movement was a mixed bag: StarkNet saw the highest growth at +8.24%, while Loopring plummeted the most at -9.09%. Further Reading Flashbots reveals new version of its key Ethereum software BlockTower launches $150M fund to Invest in blockchain infrastructure and DeFi Tether ditches commercial paper reserves for T-Bills Crypto market maker Wintermute pays off $96M TrueFi debt weeks after being hacked Mango Market’s DAO forum set to approve $47M settlement with hacker Moola Market exploited for $8.4 million Moran Hard Fork: BNB Smart Chain set to execute a hard fork as temporary patch fix for its $100 million exploit Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners.

Recently, investors and speculators in the cryptocurrency market seemed to focus on Merge ETH and the transition from PoW to PoS. This event is now behind us, and for the moment it does not seem to affect the ETH price particularly. Meanwhile, after a deep bear market, the topic of bitcoin halving may soon come to mind. This event may take place in April 2024. Halving bitcoin About once every 4 years, or more precisely every 210000 blocks, the issuance of new bitcoin is halved. This is due to the BTC algorithm, which was created in 2008, where every 4 years or so the reward to miners halves. The process should continue until there are no more than 21 million BTCs in the world, which could be around 2140. By now, more than 90 percent of the total supply of bitcoin is already on the market, while by 2030, at this rate of new coin creation, there could already be 98 percent of the total supply on the market. The halving phenomenon, in turn, is supposed to be responsible for controlling the deflationary nature of this cryptocurrency. With each successive halving, BTC becomes a rarer good and its inflation rate decreases. Today, bitcoin's inflation rate is 1.78 percent. After the next halving, in April 2024, this inflation rate will drop to 1.1 percent, etfstream calculates. What has been the history of BTC halving? As already mentioned, every 4 years or so, there is a processing of 210000 blocks, which halves the amount of reward miners receive. Bitcoin went public in January 2009. At that point, the incentive given to miners for supporting the blockchain and verifying the network was 50 BTC. The first halving of bitcoin took place when 210000 blocks were successfully mined, and this occurred on November 28, 2012. At that time, the reward dropped from 50 to 25 BTC. Another 210000 blocks were processed on July 9, 2016. The reward halved from 25 BTC to 12.5. In 2020, the reward was already only 6.25 BTC, and in 2024, according to the algorithm, it will be 3.125 BTC. Source: Conotoxia MT5, BTC/USD, MN Bear market vs. time after bitcoin halving Why are we writing just now about an event that will not take place until April 2024? The reason may be the potential cycles of the BTC market, which has seen spectacular increases and massive corrections. Nevertheless, after the halving, the BTC price reached its bottom in a correction for about 29 months after the event. The last halving took place in May 2020. So now it is just 29 months since the reduction of the miners' reward, and the market seems to be in a strong correction. If history and the cycles of BTC were to repeat itself, it seems that the current fall could be significant for this market. Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

Crypto Industry News: Investor Jim Rogers, who founded the Quantum Fund with billionaire George Soros, expects the current bear market to be much worse than we think. He adds that the recession ahead will be the worst of his life. "We will probably have our last rally, but that will be the end," he predicts. The famous investor Jim Rogers shared his view on the state of the US economy in a press interview published on Monday. Rogers is a former business partner of George Soros who co-founded Quantum Fund and Soros Fund Management. He was asked if right now was "the beginning of an impending recession, the worst some have predicted". Rogers replied: "Well, (...) yeah, this is going to be the worst [recession] of my life. "In 2008 we had a problem because of too much debt, but since 2009 debt has increased sharply everywhere," he added, explaining why he believes that we are in a very tough crisis. In July, Rogers had already warned that the worst slump of his life was coming. He also predicted the end of the US dollar. It is still unknown how cryptocurrencies would react to such a long bear market. There is a chance that they would break away from the stock market and function as safe haven. Technical Market Outlook: The ETH/USD pair had been rejected form the 30 periods moving average after the Pin Bar candlestick was made at $1,309 and moves lower again. The momentum on the H4 time frame chart is now weak and negative. The local high was made at the level of $1,340 and then the market reversed lower towards the middle of the range The nearest technical support is seen at $1,281 and $1,267. Please keep an eye on the market behavior close to the local trend line (marked orange on chart). The demand zone is now located between the levels of $1,191 - $1,1219. Weekly Pivot Points: WR3 - $1,333 WR2 - $1,318 WR1 - $1,311 Weekly Pivot - $1,302 WS1 - $1,295 WS2 - $1,286 WS3 - $1,270 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-10-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297768

Key Takeaways Solana-based Magic Eden has become the latest NFT marketplace to shift to an optional royalties model, following in the footsteps of X2Y2 in August. Under this model, buyers can make the decision on how much royalties to pay. Playing card brand Bicycle bought a Bored Ape Yacht Club NFT for US$187,000. The brand plans to create and sell physical playing cards based on the Ape. Bicycle specifically chose an Ape with a joker playing card in a helmet — only 2% of the 10,000 Apes have this attribute. NFT fantasy sports gaming platform Sorare is launching a free-to-play digital collectible-based fantasy basketball game in partnership with the NBA. Players can collect NFT trading cards featuring NBA basketball players, as well as assemble and manage teams. X2Y2 recorded a -30% decrease in sales and a -10% decrease in transactions. Meanwhile, OpenSea‘s sales were positive at +39% and its transaction count also increased +66%. The total market cap for GameFi tokens now stands at $7.2 billion, down -7% from last week. Crypto.com NFT in the Spotlight The “Halloween Bash – Create Your Own Halloween Monster” NFT collection allows users to explore endless combinations in pursuit of creating their completely unique creature. A collaborative effort between seven prominent NFT creators, this drop is cementing itself as a major show of artistic excellence. “PSG x Clown Skateboards” features the worlds of football and skateboarding, as well as the two beloved cities of Paris and London, with accompanying easter eggs. This NFT collection is created by Clown Skateboards‘s Jeff Boardman and Vikas Malik, in collaboration with the Paris Saint-Germain football club. NFT Highlights Azuki reveals physical backed tokens for on-chain ownership of physical items Shopify users get their hands on Tezos NFTs with new partnership Digital real estate platform sells house as an NFT Coinshares launches experimental new NFT pricing tool Latin American exchange Lemon integrates with NFT marketplace TravelX to allow airline ticket purchases GameFi Highlights GameFi platform Arcade raises $3.2M led by Crypto.com and other prominent investors DappRadar says Decentraland has 650 daily active users Major League Baseball is hiring to expand its NFT, digital games and metaverse presence Web3 infrastructure firm ChainSafe raises $18.75M as attention shifts to GameFi Japan’s Konami seeks to hire talents to advance Web 3, metaverse, and NFT efforts NFT Transaction Benchmark The following chart shows select top NFTs and their historical floor prices: Top Collections The following table shows select top creators (by sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Sample Crypto.com NFT Loaded Lions $99,000 Minted VVS Miner Mole $59,000 Magic Eden DeGods $2,235,000 OpenSea CryptoPunks $3,623,000 Platform Crypto.com NFT Collection Loaded Lions Sales Volume (USD) $99,000 Sample Platform Minted Collection VVS Miner Mole Sales Volume (USD) $59,000 Sample Platform Magic Eden Collection DeGods Sales Volume (USD) $2,235,000 Sample Platform OpenSea Collection CryptoPunks Sales Volume (USD) $3,623,000 Sample GameFi Top Gainers & Losers Top Games Metrics Daily Gamers by Blockchain Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile.

Crypto Industry News: The amendment to the Financial Services and Markets Act, which is currently being processed by the UK Parliament, will expand the powers of the authorities to regulate various activities in the digital asset market. The amendment was written by Andrew Griffith, MP and Financial Secretary of the Treasury. The 335-page bill was introduced into legislative circulation in July and had its second reading in the House of Commons on September 7. According to the justification accompanying the said amendment, this one is intended to "clarify" the "rights related to the promotion" of financial services and other cryptocurrency related activities. The Financial Conduct Authority (FCA), the British regulator of the financial market, published an open letter on August 9, which describes in detail the supervisory strategy for "alternative" financial companies, i.e. those from the cryptocurrency market. Let's add that most of the cryptocurrency companies in the UK are not now under the control of the FCA, although they have the option to apply for a special license to operate. Anyway, they will have to do the latter next year at the latest. The registration process currently only covers anti-money laundering and anti-terrorist financing measures. However, it turned out to be too difficult for many applicants. The FCA also took action in August on advertising high-risk financial products and made it clear that cryptocurrency assets could be risky. In March this year. FCA also announced that it is looking for employees with experience in the field of cryptocurrencies. As it was then reported, the authority is preparing to launch a new department responsible for regulating this sector. Technical Market Outlook: The ETH/USD pair had been rejected form higher price levels after the failed breakout above the trend line. The local high was made at $1,369 and then the market reversed back under the trend line again. The momentum on the H4 time frame chart had hit the extremely overbought market conditions, so the pull-back is imminent. The nearest technical support is seen at $1,344 was broken, so the next are seen at $1,318 and $1,299. Please keep an eye on the market behavior close to the local trend line (marked orange on chart). The demand zone is now located between the levels of $1,191 - $1,1219. Weekly Pivot Points: WR3 - $1,413 WR2 - $1,379 WR1 - $1,357 Weekly Pivot - $1,345 WS1 - $1,323 WS2 - $1,311 WS3 - $1,267 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 10:00 2022-10-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298009

Amid a lull in the crypto market, Mastercard has announced the release of new software that would help banks detect and block transactions with fraud-prone crypto exchanges. The new system, called Crypto Secure, uses complex AI algorithms to determine the risk of crime associated with crypto exchanges on the Mastercard payment network. The company said that the system relies on data from the blockchain, a public record of crypto transactions, as well as other sources. Startup Mastercard The service is powered by CipherTrace, a blockchain security startup Mastercard acquired last year. CipherTrace helps companies and state institutions investigate illicit transactions involving cryptocurrencies. Its main competitor is the New York-based firm Chainalysis, as well as Elliptic. Mastercard noted that the service was launched due to growing crime in the nascent digital asset market. According to Chainalysis, the amount of crypto entering wallets with known criminal connections surged to a record $14 billion last year. Furthermore, 2022 saw a wave of high-profile hacking attacks and scams targeting crypto investors. On the Crypto Secure platform, banks and other card issuers are shown a dashboard with color-coded ratings representing the risk of suspicious activity. The decision on whether to turn away a specific crypto merchant is down to the card issuers themselves, and not Crypto Secure. Mastercard Mastercard already uses a similar technology to prevent fraud in fiat currency transactions. Crypto Secure extends this functionality to Bitcoin and other cryptocurrencies. In an interview with CNBC, Ajay Bhalla, Mastercard's president of cyber and intelligence business, said that the move was about ensuring its partners can stay compliant with the complex regulatory landscape. "The whole digital asset market is now a pretty large, substantial market. The idea is that the kind of trust we provide for digital commerce transactions, we want to be able to provide the same kind of trust to digital asset transactions for consumers, banks and merchants," Bhalla said. Bitcoin On the technical side, Bitcoin has recouped losses it sustained during an earlier slump. The market is now balanced once again, suggesting that risk appetite of investors is low. The key level for BTC at this point is the resistance at $19,500. The cryptocurrency needs to regain this level to begin a new upward correction. If BTC breaks above this level, it would then need to break through the resistance at $20,540 and $21,410. If BTC ends up under increased pressure, which is quite possible, bulls would need to defend the support levels of $19,100 and $18,625. A breakout below these levels would quickly push the instrument back towards the lower boundary of the sideways channel at $18,100, opening the way towards $17,580. Ethereum Ethereum has rebounded from the strong support level of $1,275 upwards and is currently moving sideways. A breakout through $1,275 could change the situation in the market significantly. However, ETH would need to settle above $1,343 to stabilize the situation and return balance. From there, Ethereum could rise towards $1,402 and $1,457, with more distant targets being $1,504 and $1,550. Continuing pressure on the instrument and a breakout below $1,275 could send the instrument down towards the support at $1,210. If ETH breaks through this level, it would slide down to $1,150, where major market players would come into play once again.     Relevance up to 10:00 2022-10-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/325108

Crypto volatility in freefall. Ethereum launches Shandong testnet. Europe to develop energy efficiency label for blockchains. Chart(s) of the Week: Crypto Volatility Freefall Crypto volatility continues to fall, as seen in the options implied volatilities (vols) downtrend for both BTC and ETH. Implied vols are derived from the options market and are typically used as forward-looking measures of risk. 1-week implied vol for BTC currently is at 43.7%, the lowest level this year.  While one interpretation of the low volatility could be less cautious sentiment, it could also be seen as a somewhat dull environment from a short-term trading perspective as the price is essentially stuck in a narrow sideways range. The low implied vols potentially also indicate relatively cheap prices for downside protection via options. Crypto Fund Flow Tracker The aggregated exchange balances for both BTC and ETH continued to fall over the past week, potentially implying weakening sell pressure. No significant movements were seen in OTC (over-the-counter) desks’ balance for BTC. OTC desks are typically used by larger investors. Crypto Derivatives Pulse No significant movements in BTC and ETH put-call ratios over the past week. BTC perpetual futures funding rates remain positive (longs pay shorts), while ETH funding rates continue to hover around neutral levels. Crypto Price Movements Crypto News Highlights Ethereum (ETH) launches Shandong, a testnet to prepare for the Shanghai upgrade. Shandong will be a testing ground for numerous Ethereum Improvement proposals (EIPs) for selecting to include in the later Shanghai upgrade, one of which could potentially be allowing those that hold staked ETH to withdraw it.  The European Union is set to develop an energy efficiency label for blockchains. This is part of wider plans to control energy consumption of the Information and Communications Technology (ICT) sector.  Aptos (APT), a Layer-1 blockchain, launched its mainnet. Aptos was created by ex-Meta developers and includes among its investors Andreessen Horowitz. Following the launch, there has been some controversy about its tokenomics and transaction speed being slower than claimed. Fidelity’s crypto platform, Fidelity Digital Assets, will allow its institutional clients to trade ETH starting on 28 October. This follows Fidelity’s launch of an Ethereum Index Fund for accredited investors back in late-September. A single miner managed to capture a large portion of the Bitcoin SV (Bitcoin Satoshi’s Vision) blockchain by accounting for as high as 80% of the hashrate. The miner has been mining near-empty blocks, making the blockchain unusable for long periods of time. Catalyst Calendar Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners.  

Bitcoin (BTC) Bitcoin has been running since mid-September this year in a horizontal trend between the support of $ 18,500 and the resistance in the region of $ 20,650 and measuring the 50% Fibonacci retracement from an earlier downward impulse. Considering that the end of October promises to be relatively calm on the global financial markets regarding important macroeconomic data releases, it seems highly probable that BTC will remain in the range mentioned above for the next 1.5 weeks. The catalyst for higher volatility may be the meeting of the Federal Committee for Open Market Operations (FOMC) scheduled for November 2nd. Given the positive US labour market data presented in the October 7th Nonfarm Payrolls report and last week's inflation readings, it seems highly probable that the Fed will raise interest rates for the fourth time in a row by 75 basis points in November. The report published October 13th this year shows that consumer inflation (CPI) in the United States in September amounted to as much as 8.2%, which means it decreased by only 0.1 percentage point from 8.3 per cent reported in August this year. As if that were not enough, core inflation, which the Fed pays special attention to, increased to 6.6% from 6.3%, which speaks for a further aggressive tightening of monetary policy, which could ultimately contribute to the renewed depreciation of BTC. The assumptions of classic technical analysis also support this scenario. Consolidation, i.e. the pattern that we have been observing on Bitcoin for over five weeks, is perceived as a correction system from which the market breaks more often in the direction consistent with the earlier move. So, if, in this case, we had previously seen declines, statistically, there is a greater probability that BTC will fall below $ 18,500, which in turn could drive further depreciation. Ethereum (ETH) The current situation on the Ethereum quotes is also very similar, the price of which has been in the horizontal trend for a long time. In this case, its lower bound is at the support of around USD 1,250, and the upper resistance is around USD 1,425. Considering that this is a pattern seen as a form of temporary rebound after previous declines and that the upper bound of this pattern coincides with measuring 38.2% of the Fibonacci retracement from an earlier downward move, it seems highly probable that after this correction is completed, the ETH exchange rate will return to the downward path and will slide down to the region of USD 1,000, or even further to USD 800. It is worth mentioning here, however, that there is no rule for how long a market can remain in consolidation. One can estimate that the ETH rate will remain within this consolidation until November 2nd when the next Federal Reserve meeting will occur. Bitcoin Cash (BCH) Bitcoin Cash has been operating since mid-October this year in a horizontal trend, the upper bound of which is marked by the recently broken support (now resistance) of $ 112. If only the market rebounds from this level, the price of this cryptocurrency could return to the downward path and slide even to the  â€‹â€‹June and July lows, i.e. to USD 97. Potential declines are also supported by the fact that the current consolidation is in the form of a correction after previous declines, which naturally increases the probability that BCH will slide even lower after the rebound. Litecoin (LTC) Litecoin's quotations have been held since September 18th in the ascending right-angled triangle formation, from which the market is still knocked down in the first half of October this year. Over the last few days, however, the LTC rate has increased by over 12%, thus re-testing the previously broken upward trend line, which is the lower boundary of the above triangle. However, a rebound from this resistance could drive further declines, for which the USD 47 and 42 seem to be the actual ranges. It is there that the two closest support levels are located. Solana (SOL) The re-test of the recently defeated support (now resistance) is also currently observed on the Solana quotes. In this case, it is in the $ 29.50, close to the downward trend. A rebound from this ceiling could trigger another downward impulse towards USD 26. It is also worth noting that it would be one of the lowest levels since July 2021. Avalanche (AVAX) Looking at the Avalanche quotes, we notice that, in line with our last week's projection, the cryptocurrency rate has recently rebounded from technical support by $ 14.50, then increased by 12.5%, thus returning to the area of ​​previously defeated support (now resistance) in the region of USD 16.50. If the currently tested resistance is discarded in the near future, the AVAX price could nevertheless return to the path of decline and slide back to the region of $ 14.50 or even further below $ 10. Binance Coin (BNB) Binance Coin has been trading since the second half of August this year. In a horizontal trend between the support of $ 262 and the resistance in the region of $ 297. It is worth noting that within this consolidation, a second, smaller one has recently emerged, the upper limit of which is marked by local resistance around USD 276. The common features of both of these systems are their lower bound, marked by the support of $ 262 and the fact that both of these consolidations are corrective formations after previous declines, which increases the likelihood of a breakout from them down, which in turn could naturally drive a further BNB sell-off in towards USD 244, or even USD 214. EOS Looking at the EOS quotes, we notice that the price of this cryptocurrency fell between October 1 and 13 this year by almost 24%, reaching $ 0.94 at one point. Over the last few days, however, there has been a slight demand reaction here, and if only these increases continue, the EOS rate could return to the area of ​​earlier made support (now resistance) in the amount of USD 1.15. However, the small dynamics of this rebound may indicate that it is only a temporary correction, after which the price of this cryptocurrency will return to the downward path. If that happens, it could fall as low as $ 0.88. Chainlink (LINK) Chainlink's quotations have recently slipped to an upward trend line and horizontal support of USD 6.65. A slight demand reaction appeared a few days ago in the vicinity of this support. It is worth noting, however, that each of the last three rebounds from this level, which we observed in the second half of September this year and in the first half of October this year. And now it was getting smaller. This may indicate a weakening demand pressure, increasing the probability of overcoming this support. If that happens, LINK could fall as low as $ 5.90.

Crypto Industry News: Rishi Sunak has become the new leader of the Conservative Party in Great Britain. This means that he will also head the British government. This may have an impact on the cryptocurrency policy of the Albion government. Rishi Sunak will replace Liza Truss, who has headed the British government for just over a month, as Prime Minister. Sunak himself competed with her for the office of head of government immediately after Boris Johnson's resignation. It didn't work then. He won 60,399 votes, while Truss 81,326. Now, however, this former finance minister is taking power in the party and thus in the country. Sunak was elected leader by members of the Conservative Party on Monday. Truss was forced to resign after her plan to fight the crisis proved impossible to implement. While serving as Finance Minister in Prime Minister Boris Johnson's government, Sunak announced that he wanted to turn the UK into a cryptocurrency hub. He helped prepare, among others The Financial Services and Markets Act, which, if enacted, could give local regulators broad power over the cryptocurrency industry - starting with the inclusion of asset-linked cryptocurrencies such as stablecoins within the scope of the payment market regulations. Under his leadership, the Royal Mint was entrusted with the task of creating the NFT collection, which, however, is yet to be realized. Technical Market Outlook: The ETH/USD pair had been rejected form higher price levels after the failed breakout above the trend line. The local high was made at $1,369 and then the market reversed back under the trend line again. Currently, the bulls and bears are consolidating in a tight range, between the trend line resistance and the technical support. The momentum on the H4 time frame chart had hit the extremely overbought market conditions, so the pull-back is imminent. The nearest technical support is seen at $1,344 was broken, so the next are seen at $1,318 and $1,299. Please keep an eye on the market behavior close to the local trend line (marked orange on chart). The demand zone is now located between the levels of $1,191 - $1,1219. Weekly Pivot Points: WR3 - $1,413 WR2 - $1,379 WR1 - $1,357 Weekly Pivot - $1,345 WS1 - $1,323 WS2 - $1,311 WS3 - $1,267 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.       Relevance up to 10:00 2022-10-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298197

Crypto Industry News: Spain is currently a country where as many as 260 crypto ATMs have been installed, which pushes El Salvador - where there are 212 such devices - to the fourth position in the CoinATMRadar ranking. The data confirms that the country is behind 0.6% of the world's cryptocurrency ATM installations. Moreover, it means that Spain is the market leader in Europe. In second place we have Poland (205 devices), followed by Switzerland (152 ATMs) and Romania (139). In 2022 alone, more than 40 ATMs were installed in Spain. This year, a total of over 100 ATMs will be installed. MediaMarkt, a German electronics retailer, and Confinity are working to install devices in Austria, Germany, Greece and Spain. Interestingly, Spain is going against the tide when it comes to the global trend. There is a net change in crypto ATMS installation around the world. New data confirms that 796 devices were withdrawn from the global network in September. Nevertheless, calculations based on data from the past 60 days show that around seven devices are installed worldwide every day. Technical Market Outlook: The ETH/USD pair had broken out from the consolidation zone and made a new local high at the level of $1,525. It took only two H4 time frame candles (8h) to rally over $184 (14%), so the breakout is strong and might extend higher. The momentum on the H4 time frame chart had hit the extremely overbought market conditions, so the pull-back is imminent. The nearest technical support is seen at $1,473 and $1,449 and the next target for bulls is seen at $1,645. Weekly Pivot Points: WR3 - $1,413 WR2 - $1,379 WR1 - $1,357 Weekly Pivot - $1,345 WS1 - $1,323 WS2 - $1,311 WS3 - $1,267 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 08:00 2022-10-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298353

What happens if the CEO of a famous protocol is resigning? What could it mean for the price action of the token? We'll discuss it in detail when looking at the recent developments of Polkadot... 00:00 Intro 00:22 Preview 00:36 CryptoNews 02:41 Bitcoin 04:48 Ethereum 08:42 MaticPolygon 10:29 Polkadot 12:17 Subscribe & Good bye #crypto #cryptonews #cryptotrading #swissquote ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH

Crypto Industry News: Merge Ethereum was a landmark event. Many people agreed that this is undoubtedly one of the key events in history - not only Ethereum, but all cryptocurrencies. Some expected the mechanism to change from proof-of-work to proof-of-stake. Many people also expected increases, and some thought that changing the mechanism could cause Ethereum to dethrone Bitcoin. However, after Merge, we saw declines instead of increases. And since around September 20 it has been in consolidation, only yesterday we could notice a bigger move. The transition to the proof-of-stake mechanism was to reduce the daily supply of ETH by approximately 90%. Inflation was supposed to be close to 0, and some expected deflation. The smaller supply combined with low inflation made the market expect increases. Some expected a "supply shock", ie a situation where there are many buyers but a shortage of resources in the market. Why has there not been and will not be (at least for now) huge increases? Above all, cryptocurrency prices are also influenced by market expectations for the future. And in front of Merge, the market was red-hot - expectations were enormous. With such moods, it is very easy to get disappointed and cause declines. Additionally, it is worth noting that the macroeconomic sentiment is not conducive to growth. Raging inflation and rising interest rates are reflected in on risky assets, and this group includes cryptocurrencies. Moreover, we observe an increased interest of politicians in regulations. Both the United States and the European Union are working on introducing cryptocurrency laws. And regulations have already been introduced by many countries, including South Korea, India, China. Technical Market Outlook: The ETH/USD pair had broken out from the consolidation zone and made a new local high at the level of $1,593 (at the time of writing the article). The Ethereum rally made so far over $254 (19%), so the breakout is strong and might extend even higher. The momentum on the H4 time frame chart had hit the extremely overbought market conditions, so the pull-back is imminent. The nearest technical support is seen at $1,473 and $1,513. The next target for bulls is seen at $1,645.     Weekly Pivot Points: WR3 - $1,413 WR2 - $1,379 WR1 - $1,357 Weekly Pivot - $1,345 WS1 - $1,323 WS2 - $1,311 WS3 - $1,267 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 09:00 2022-10-28 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298593

Key Takeaways Crypto.com signed an MOU with gaming software development studio ACT Games. The Cronos blockchain will soon be powering ACT Games’s NFT trading card game “Zoids Wild NFT Arena”. Crypto.com will issue an NFT collection based on A Story produced Korean drama “Extraordinary Attorney Woo”. Four whale artworks produced by top Korean illustrator Chul-min Lee were also showcased at Blockchain Week in Busan. Bored Ape Yacht Club NFT holders have access to a new merchandise drop. The BAYC x McBess x The Dudes drop contains apparel, accessories, and artwork. Amongst the items are t-shirts, jackets, prints, and stickers with monochromatic designs. Reddit brought half a million or more newcomers to the world of NFTs, using a jargon-free approach to presenting digital collectibles. Around three million wallets have been created to acquire Reddit’s Collectible Avatars, and sales volumes have exceeded US$6.7 million. X2Y2 recorded a -19% decrease in sales and a -15% decrease in transactions. Meanwhile, OpenSea‘s sales were positive at +21% and its transaction count also increased +9%. The total market cap for GameFi tokens now stands at $7.83 billion, up +9% from last week. Crypto.com NFT in the Spotlight The “Visa Masters of Movement” NFT collection is a fusion of football, art, and technology. To celebrate FIFA World Cup Qatar 2022, Visa has taken some of football’s most iconic moves from five legendary players and transformed them into digital art. Proceeds from the sales of this collection will also benefit the charity Street Child United. DeRace is an NFT horse racing metaverse based on blockchain technology and it allows players to race, equip, breed, and rent NFT horses. Each “DeRace Mystery Box” contains one wearable NFT for your virtual horse, including saddles, horseshoes, and stirrups.These can be used to unlock the performance of the NFT horses or traded on NFT marketplaces. NFT Highlights NFT marketplace LooksRare switches to optional royalties OpenSea revises OpenRarity Protocol to reflect market dynamics Twitter will allow users to buy and sell NFTs through tweets Over $1M worth of ETH and NFTs stolen in phishing attack Apple to allow in-app purchase of NFTs, subject to 30% tax rate Swiss Seba Bank launches NFT custody despite market decline GameFi Highlights Gaming and NFTs will drive Web3 growth: Crypto.com COO Blockchain game Alien Worlds launches in-game DAOs Nissan to launch game NFTs Axie Infinity drops 22% over the week amid fears of token unlock GameFi-focused network Oasys Blockchain launches mainnet with support of Sega, Ubisoft, and Bandai Namco NFT Transaction Benchmark The following chart shows select top NFTs and their historical floor prices: Top Collections The following table shows select top creators (by sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Sample Crypto.com NFT Loaded Lions $234,000 Minted Cronos Cruisers $291,000 Magic Eden y00ts: mint t00bs $1,711,000 OpenSea CryptoPunks $6,566,000 Platform Crypto.com NFT Collection Loaded Lions Sales Volume (USD) $234,000 Sample Platform Minted Collection Cronos Cruisers Sales Volume (USD) $291,000 Sample Platform Magic Eden Collection y00ts: mint t00bs Sales Volume (USD) $1,711,000 Sample Platform OpenSea Collection CryptoPunks Sales Volume (USD) $6,566,000 Sample GameFi Top Gainers & Losers Top Games Metrics Daily Gamers by Blockchain Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile.  

Crypto Industry News: One of the biggest topics that has been debated in the cryptocurrency ecosystem for years is how the emergence of institutional investors will transform the sector and take it to new and higher levels. What will change when the world's largest asset managers enter the crypto scene. The severe crisis of 2022, which wiped out more than $ 2 trillion from the total cryptocurrency market capitalization, put an end to the expectations of many. However, new Fidelity data shows that institutions are still interested in getting exposure to an emerging asset class. According to the 2022 Institutional Investor Digital Assets Study conducted by Fidelity Digital Assets, which surveyed 1,052 institutional investors in Asia, Europe and the United States. It found that more institutions are now investing in cryptocurrencies than a year ago, when the cryptocurrency market was rising. "Despite the difficulties in the market, the adoption of digital assets among the surveyed institutional investors increased in both the US (42%) and Europe (67%), a 9-point and 11-point change year-on-year, respectively," Fidelity wrote in the report. Institutional investors in Asia have seen a slight decline in popularity over the past year, but are still the most accepting of digital assets of all regions surveyed, with 69% of respondents reporting an allocation to digital assets. Overall, 58% of those polled reported having digital assets in the first half of 2022, a 6% increase year on year. Both Bitcoin and digital assets as a whole were positively rated by 51% of respondents. Technical Market Outlook: The ETH/USD pair has been seen making a local pull-back on the H4 time frame chart after the 19% rally hit the level of $1,594. The breakout was strong and might extend even higher when the pull-back is done. The momentum on the H4 time frame chart had hit the extremely overbought market conditions and is currently coming off this levels. The nearest technical support is seen at $1,473 and the level of $1,513 will now act as the intraday technical resistance. The next target for bulls is seen at $1,645. Weekly Pivot Points: WR3 - $1,413 WR2 - $1,379 WR1 - $1,357 Weekly Pivot - $1,345 WS1 - $1,323 WS2 - $1,311 WS3 - $1,267 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 09:00 2022-10-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298769

Summary:  Following the Ethereum merge six weeks ago, we take a look at whether it has honored its promises. As expected, the merge has drastically decreased the issuance of Ether, however, it has also initiated fear over censorship of certain transactions on the Ethereum network. On the 15 September, the Ethereum merge occurred. At the merge, Ethereum’s consensus mechanism transitioned from computationally hungry proof-of-work to energy-friendly proof-of-stake. The merge was the most anticipated update of the Ethereum network since its inception, if not for all cryptocurrencies. Now, around six weeks later, the merge has impacted Ethereum positively but also in negative ways. Ethereum functions as before the merge The Ethereum merge occurred instantly and flawlessly without any interruptions to the network such as a network halt. This is positive for Ethereum’s ecosystem and for the world’s perception of the network. Likewise, for users and developers, the experience when interacting with the network is the same as before the merge. From 500,000 to 1,000 Ether As proof-of-stake demands much less computational power along with electricity, it can sustain a higher degree of security by compensating validators in proof-of-stake much less than miners in proof-of-work to verify transactions, also known as security cost. By lowering the security cost, the dilution of existing Ether holders is likewise reduced. Prior to the merge, the Ethereum network issued around 5.4mn new Ether yearly, whereas it currently issues between 600,000 and 700,000. As Ethereum burns the majority of paid transaction fees, its supply has nearly been fixed since the merge just as the amount of burned fees nearly offset newly issued Ether. Following the merge, the Ether supply has alone increased by around 1,000 Ether, whereas it would have increased by slightly more than 500,000 Ether without its transition to proof-of-stake. This is of much importance to Ether investors since they are now barely diluted. On the contrary, with proof-of-stake, they may choose to receive the newly issued Ether and the non-burned part of the transaction fees by being a staker. With only around 14.5mn staked Ether of the 120mn supply, being a staker entails a reward of up to 7% yearly. As such, Ether is now a non-diluting asset with a potential high yearly reward. This is in sharp contrast to before the merge, at which point Ethereum had inflation north of 3.5% with no compensation to investors because the inflation was paid to miners. This makes Ethereum more appealing to investors, particularly to non-crypto advocates, for whom Ethereum may serve as an example of how crypto can generate something similar to dividends. Still, validators are not yet able to withdraw from staking Ether. This prompts uncertainty and risk because investors have no clarity about when they will be able to withdraw from staking. While the risk is extremely minimal, the consequence must be mentioned. Ultimately, this implies that 14.5mn Ether can never be unstaked, possibly abolishing any faith in Ethereum. Taking into account that it may take a year until you can unstake Ether, this is a severe obstacle for Ethereum in the short term. Are we about to censor on the protocol level? The merge has made it conceivable that censoring of transactions on Ethereum’s protocol level could happen which is a concern. Following the merge, an increasing number of validators have outsourced the production of blocks to so-called MEV-boost (maximal extractable value) relays to increase staking rewards from non-burned transaction fees. By outsourcing block production to relays, validators may include transactions in its block that are not part of Ethereum’s public mempool, with the latter being the place, where transactions normally go prior to being verified and included in a block. Transactions that are not broadcasted to the mempool often include a much higher transaction fee, since the person in question is, for instance, executing arbitrage on decentralized finance protocols. By not broadcasting the transaction to a public mempool, it is assured that no one can front-run the original transaction before it is verified. However, the dispute with MEV-boost relays is that they are largely not yet properly decentralized. This means that the majority are subject to sanctions, so they are e.g., not allowed to include transactions from US-sanctioned mixer Tornado Cash due to Office of Foreign Assets Control (OFAC) sanctions. As we speak, 64% of blocks censor transactions by outsourcing block production to OFAC-compliant relays. At the time of the merge, purely 9% of all blocks were subject to OFAC sanctions. In the case that 99% of blocks will be OFAC-compliant in the future, it will not be impossible to execute non-OFAC-compliant transactions, however, it will take up to 20 minutes to verify such a transaction and likely be more expensive, ultimately leading to a worse user experience for those transactions. Although the present amount of transactions affected is very limited, the potential implication in the future is substantial. In the case that censorship gets more widely exercised on the protocol level and the intensity of sanctions increases, Ethereum is likely doomed to fail long-term. This is not about being against regulation but ensuring that Ethereum’s protocol level continues to be neutral and decentralized, which are the key selling propositions of any blockchain. If Ethereum can no longer guarantee neutrality and full decentralization, users and developers are likely to choose another blockchain that can. It must be stated that the Ethereum community is working on various solutions, for instance, by concealing the content of transactions, so validators cannot censor transactions to the same extent. After all, these solutions are likely years in the making, so this issue will not be solved in the near term.     Source: https://www.home.saxo/content/articles/cryptocurrencies/after-the-ethereum-merge-the-supply-is-stuck-28102022

Crypto Industry News: Merge, which is considered to be one of the most important Ethereum updates to date, immediately reduced the power consumption of the network by 99.9%. On September 15, Blockchain Ethereum switched from proof-of-work (PoW) to proof-of-stake (PoS) to turn into a greener Blockchain. The result was an immediate and sharp decline in the total energy consumption of the Ethereum network. Before the Merge update, in 2022, Ethereum's energy consumption ranged from 46.31 TWh to 93.98 TWh per year. The lowest energy consumption for Ethereum was recorded on December 26, 2019 and was 4.75 TWh per year. Ethereum's energy consumption has dropped by more than 99.9% since October 15, and is still very low. As a result, the network's carbon footprint is now 0.1 million tones of CO2 (MtCO2) per year. On a per transaction basis, the electricity consumption is just 0.03 kWh and the carbon footprint is 0.01 kgCO2, which is comparable to the energy used while watching YouTube for two hours. Despite the celebration of Ethereum's transition to PoS, community members have raised concerns about chain centralization and higher regulatory scrutiny. Technical Market Outlook: The ETH/USD pair has been seen making a local pull-back on the H4 time frame chart after the 24% rally hit the level of $1,663. The breakout was strong and might extend even higher as long as the pull-back will not drop more than 7% (price and time overbalance could be made if price drops more than 7%). The momentum on the H4 time frame chart is currently coming off overbought conditions and is approaching the level of fifty. The nearest technical support is seen at $1,513 and the level of $1,593 will now act as the intraday technical resistance. Weekly Pivot Points: WR3 - $1,647 WR2 - $1,1612 WR1 - $1,596 Weekly Pivot - $1,578 WS1 - $1,561 WS2 - $1,543 WS3 - $1,509 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298991

Blue lines- Fibonacci retracement levels Ethereum has most probably completed the rise from $1,191. I believe that the most likely scenario is for price to make at least a pull back towards $1,490 from current levels of $1,618. Short-term support is at $1,563. Price is most probably forming a lower high and a new downward move will come soon. Upside potential is limited. The RSI has already provided us with a bearish divergence and that is why I think it is more likely to see a pull back than a continuation of the up trend. Downside target is at $1,490 and at $1,370. A break below $1,370 would be a bearish signal that bulls do not want to see. We are neutral Ethereum if not bearish.     Relevance up to 13:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299056

Crypto Industry News: The Reserve Bank of India announced on Tuesday that it will launch the first digital rupee pilot program "to be used on a case by case basis", starting with the broadly understood wholesale sector. The wholesale sector includes financial institutions such as banks and interbank transactions such as securities settlement and inter-currency payments. The aim of the pilot program is to start testing the settlement of transactions on the secondary market on government securities. Central bank officials are testing whether the integration of the central bank's digital currency (CBDC) with the domestic financial system can help increase the efficiency of the interbank market and reduce the associated transaction costs. According to the bank, having a digital rupee system "would anticipate the need for a settlement guarantee infrastructure for collateral to reduce settlement risk." After the system has been tested, additional pilots will be launched to test other types of wholesale and cross-border payments using the knowledge gathered during the trials. A total of nine banks will participate in the pilot test, including State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and HSBC. Technical Market Outlook: The ETH/USD pair has made a 7% pull-back from the rally high located at $1,663. The market is currently testing the technical resistance located at the level of $1,571 and in a case of a breakout, the next target is the rally high. The momentum on the H4 time frame chart had bounced from the level of fifty and points to the upside already. The nearest technical support is seen at $1,513 and the level of $1,593 will now act as the intraday technical resistance. Weekly Pivot Points: WR3 - $1,647 WR2 - $1,1612 WR1 - $1,596 Weekly Pivot - $1,578 WS1 - $1,561 WS2 - $1,543 WS3 - $1,509 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2022-11-02 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299169

Crypto Industry News: As digital assets continue to fight crypto after a massive sell-off across the crypto space, Ethereum co-founder Vitalik Buterin said crypto is still a better investment than gold. Many industry pundits expected gold to do much better amid stubbornly high global inflation. However, the precious metal has been under pressure from the strong US dollar and higher government bond yields, which are rising in light of the aggressive tightening policy pursued by the Federal Reserve. In a recent tweet, Buterin criticized gold as a decentralized asset touted as a replacement for traditional money, stating that cryptocurrency is a better investment option. Co-founder Ether said gold is "incredibly inconvenient", "difficult to use" and "doesn't support secure storage options like multisig." Buterin said the precious metal is especially difficult to deal with "transactions with untrusted parties." According to him, "gold has less adoption than crypto, so crypto is a better option." Buterin's comment was in response to New York Times bestselling author Soonish, Zach Weinersmith, who questioned the superiority of cryptocurrencies over gold. Weinersmith asked why not choose gold, looking for an alternative to centralized power for money. The discussion on the size of cryptocurrencies in relation to gold has been going on since Bitcoin's debut in global salons. And it was not finally settled by either party. Gold supporters hold out bravely, and central banks around the world prefer to accumulate gold in vaults over Bitcoin. Buterin seems to have forgotten one big advantage of gold over BTC. Gold can be transferred without a trace, but not Bitcoin. Technical Market Outlook: The ETH/USD pair has made a 7% pull-back from the rally high located at $1,663. The market keeps trading below the technical resistance located at the level of $1,594 and below the local trend line as well. The momentum on the H4 time frame chart has broken below the level of fifty and points to the downside. The nearest technical support is seen at $1,513 and the level of $1,594 will now act as the intraday technical resistance. Weekly Pivot Points: WR3 - $1,647 WR2 - $1,1612 WR1 - $1,596 Weekly Pivot - $1,578 WS1 - $1,561 WS2 - $1,543 WS3 - $1,509 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 08:00 2022-11-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299348

Crypto Industry News: MoneyGram International, a global peer-to-peer payment company, announced the launch of a new service that allows US users of the MoneyGram mobile app to buy, sell and store cryptocurrencies. Users can use the MoneyGram app to access Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). The company indicated that it intends to add support for additional tokens in 2023. It also signaled that it will seek expansion into markets, which is allowed by global regulations. This announcement is the latest cryptocurrency initiative adopted by the company as part of its vision to increase cryptocurrency adoption by reviving "real-world cryptocurrency and blockchain use cases." Technical Market Outlook: The ETH/USD pair has made a 10% pull-back from the rally high located at $1,663 and keeps going lower. The market keeps trading below the technical resistance located at the level of $1,594 and below the local trend line. The bulls tried to rally, but made only a false breakout above the local trend line and the market reversed lower. The momentum on the H4 time frame chart has broken below the level of fifty and points to the downside. The nearest technical support is seen at $1,513 and the level of $1,594 will now act as the intraday technical resistance. Weekly Pivot Points: WR3 - $1,647 WR2 - $1,1612 WR1 - $1,596 Weekly Pivot - $1,578 WS1 - $1,561 WS2 - $1,543 WS3 - $1,509 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.       Relevance up to 08:00 2022-11-04 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299533

Crypto Industry News: The social media giant - Instagram - announced that as part of its partnership with Polygon, it will launch a market dedicated to trading in non-exchangeable NFT tokens. The marketplace will allow users to mint and sell the tokens they have created. Instagram joins forces with Polygon On Thursday, November 3, the social media giant announced that it would soon enable its users to mint NFT tokens on its platform. The platform will also launch a dedicated market for trading this type of tokens. Initially, Instagram will allow NFT to be sold through its app. Later, users will be redirected to an external market where they can sell their digital works. Moreover, Instagram will release a new toolkit that will aim to help users navigate the newly launched market. They will be used to knock out and sell NFT. As part of this, the platform joined forces with Polygon, a network that scales transactions taking place in the Ethereum blockchain. Technical Market Outlook: The ETH/USD pair has been seen bouncing from the technical support located at $1,513, but the bulls keep trading below the technical resistance located at the level of $1,594 and below the local trend line. The momentum on the H4 time frame chart has broken above the level of fifty, so the bullish attempt to break out higher is being supported by the momentum increase. The first target for bulls is seen at %1,663. The nearest technical support is seen at $1,513 and the level of $1,594 will now act as the intraday technical resistance. Weekly Pivot Points: WR3 - $1,647 WR2 - $1,1612 WR1 - $1,596 Weekly Pivot - $1,578 WS1 - $1,561 WS2 - $1,543 WS3 - $1,509 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 09:00 2022-11-05 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299717

Since the beginning of the year, the cryptocurrency market seems to have been in a cyclical downturn. According to data from the Statista portal, the capitalization of the entire market has fallen by about 58% since the beginning of the year, from $2.3 trillion to $0.97 trillion. Still, in terms of capitalization, bitcoin tops the list, accounting for about 40% of the cryptocurrency market's turnover, according to Coingecko statistics. Additionally, more than 90% of all 21 million bitcoins have already been dug up. The biggest winners since the beginning of 2022 among the TOP 200 according to the current capitalization of the Cryptorank portal are: BinaryX (116% YTD) Trust Wallet Token (57% YTD) ABBC coin (31% YTD) Bitgert (15% YTD) UNUS SED LEO (14% YTD). Green cryptocurrencies? After numerous votes and statistics regarding the CO2 emissivity of the system for digging cryptocurrencies, of which bitcoin is one, many projects have decided to change their computing architecture to "Proof of Storage" or "Proof of Stake." The largest project that has done this is Ethereum. It is estimated that ETH's energy consumption has decreased by 99.99%. Additional examples of green cryptocurrencies include: Cardano (-81% y/y)., Stellar (-67% y/y), and IOTA (-80% y/y). The most volatile cryptocurrencies since the beginning of 2022, according to the Cryptorank portal, are:  Bankera (OLD) (41990% YTD) Tierion (15588% YTD) Insolar (12286% YTD) smARTOFGIBING (4890% YTD). AREON (4027% YTD) As it turns out, the current year has been extremely difficult for the broad market. Someone could get the feeling that cryptocurrencies have become one of the biggest beneficiaries of low interest rates and global additions. Presently, they seem to appear as one of the biggest casualties. Additionally, this seems not to be helped by the damaged confidence towards stablecoins. Until countries change their monetary policies and attitudes towards the cryptocurrency market, there seem to be no positive signs for them. Source: Conotoxia MT5, BTCUSD, Weekly What might 2023 bring? According to current interest rate market assumptions, 2023 could see stabilization in U.S. interest rates above 5 percent. At that time, inflation could also fall below the interest rate. This could, in theory, bring calm to the financial markets. Meanwhile, bitcoin could begin a new halving cycle, which will take place in 2024. Perhaps the current cyclical downturn comes to an end by 2022, and 2023 may be more kind to cryptocurrency holders. Grzegorz Drozdz, Junior Market Analyst at Conotoxia Ltd. (Conotoxia investment service) Read more reviews and open a demo account at invest.conotoxia.com Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. The personal opinion of the author does not represent and should not be constructed as a statement or investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75,21% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

New Project Spotlight NFT Collectibles [LIVE] The “Visa Masters of Movement” auction on Crypto.com NFT features digital art inspired by iconic goals from five legendary footballers that have been minted as unique NFTs. Fans can create their own personalised collectibles on a digital pitch at the FIFA Fan Festival™ in Doha, Qatar. [COMING SOON] Crypto.com signs an MOU for NFT collaboration with A Story. With this agreement, the two companies will cooperate on promoting NFT projects based on productions by A Story. [COMING SOON] “Dimensions of Perception” features Igor Martins’s impressions on reality, dreams, visions, memories, and sensations. Martins seeks to create relationships between the physical and metaphysical world. The drop will go live on 10 November in Crypto.com NFT. Blockchain Games [LIVE] Cronos game Defira allows players to earn Fira while becoming a Defiraverse legend. The main character, Fiera, needs an army and is looking to recruit players’ heroes. [COMING SOON] The Frontier test for Cronos game Zoids Wild NFT Arena will begin on 10 November. Players who sign up for the Frontier Test are able to play for $20,000 in prizes. [COMING SOON] The Cronos Labs Accelerator Cohort 2 has opened its registration until 28 November 2022. The Accelerator will be supporting projects across the verticals of Web3 gaming, SocialFi, and NFTs with investments, mentorship, and workshops. NFT Metrics The following table shows select top creators (by weekly sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Floor Price (USD)Sample OpenSea Art Gobblers $15,300,000(31 Oct launch) $15,290 Crypto.com NFT Art Blocks $6,500,000(+49%) $163 OpenSea CryptoPunks $5,818,000(-12%) $101,450 Crypto.com NFT Bored Ape Yacht Club $2,500,000(-24%) $113,000 Minted VVS Miner Mole $94,000(-13%) $333 Minted Argonauts $65,000(-72%) $89 Platform OpenSea Collection Art Gobblers Sales Volume (USD) $15,300,000(31 Oct launch) Floor Price (USD) $15,290 Sample Platform Crypto.com NFT Collection Art Blocks Sales Volume (USD) $6,500,000(+49%) Floor Price (USD) $163 Sample Platform OpenSea Collection CryptoPunks Sales Volume (USD) $5,818,000(-12%) Floor Price (USD) $101,450 Sample Platform Crypto.com NFT Collection Bored Ape Yacht Club Sales Volume (USD) $2,500,000(-24%) Floor Price (USD) $113,000 Sample Platform Minted Collection VVS Miner Mole Sales Volume (USD) $94,000(-13%) Floor Price (USD) $333 Sample Platform Minted Collection Argonauts Sales Volume (USD) $65,000(-72%) Floor Price (USD) $89 Sample Blockchain Game Metrics The following table shows select top games by weekly Unique Active Wallets (UAW): GameBlockchain(s)UAWVolumeLogo Splinterlands Hive, Wax 291K(-3%) $5K Trickshot Blitz Flow 115K(-30%) $79K Farmers World WAX 95K(-5%) $17K Axie Infinity Ronin, ETH 62K(-2%) $14M Game Splinterlands Blockchain(s) Hive, Wax UAW 291K(-3%) Volume $5K Logo Game Trickshot Blitz Blockchain(s) Flow UAW 115K(-30%) Volume $79K Logo Game Farmers World Blockchain(s) WAX UAW 95K(-5%) Volume $17K Logo Game Axie Infinity Blockchain(s) Ronin, ETH UAW 62K(-2%) Volume $14M Logo Source: DappRadar Gaming Token Performance The total market cap for gaming tokens now stands at US$8.42 billion, up +17% from last week.  From 14-18 November in Bonifacio Global City, Metro Manila, the Philippine Web3 Festival will see founders, developers, and gamers convene in the NFT gaming space. The festival is organised by Yield Guild Games (YGG) and BlockchainSpace (BSPC). News Highlights The Minted launchpad is now live, enabling creators to mint NFT collections on both Ethereum and Cronos. Collectors can discover the latest and diverse array of NFT collections on both networks. Instagram users will soon be able to mint and sell NFTs. The latest update will enable creators to make their own digital collectibles and sell them both on and off Instagram, giving them a toolkit for creating, displaying, and selling NFTs. GameStop extends its NFT Store to ImmutableX, granting access to collectibles on an additional network. The expansion is expected to reach tens of millions of customers and will allow access to major Web3 games such as Gods Unchained, Guild of Guardians, and Illuvium. Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile.

Crypto Industry News: Ethereum creator Vitalik Buterin has unveiled a new version of his project's development plan. Other milestones on the Ethereum Roadmap include: The Surge, The Scourge, The Verge, The Purge, and The Splurge. It aims to improve resistance to censorship and network decentralization. Ethereum's new plans were revealed in a Twitter post on November 5. After Ethereum's transition to the proof-of-stake (PoS) algorithm on September 15, Ethereum entered the second stage - The Surge, with the goal of producing 100,000 transactions per second. The updated technical roadmap now introduces The Scourge as a new third stage, followed by the previously known phases: The Verge, The Purge, and The Splurge. According to the Ethereum roadmap, The Scourge's goal is to "provide a reliable and credibly neutral transaction enablement system and avoid centralization and other threats associated with the MEV [Miner Extractable Value] protocols." Buterin previously described a credibly neutral mechanism as one that "does not discriminate against any specific individual." He also confirmed the update "The Verge" which will now include the integration of Succinct Non-Interactive Argument of Knowledge (SNARK) technology with Ethereum. The addition of SNARK will add much-needed privacy features to the Ethereum network while allowing anonymous transactions to be tracked. Technical Market Outlook: The ETH/USD pair has made a new local high at the level of $1,665, made a PinBar candlestick and immediatley reversed towards the technical support seen at $1,594 (now it will act as a technical resistance). The bearish pressure is still high and the next target for bears is seen at the level of $1,502. The momentum is weak and negative already on the H4 time frame chart, so the down move might continue lower. In order to extend the recent impressive rally and reverse the trend to the up trend the market must break above the last swing high seen at $1,785. Weekly Pivot Points: WR3 - $1,635 WR2 - $1,605 WR1 - $1,587 Weekly Pivot - $1,575 WS1 - $1,557 WS2 - $1,544 WS3 - $1,514 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 09:00 2022-11-08 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299888

TL;DR Risk management is an essential part of investing and trading responsibly. Risk management strategies can reduce your portfolio's overall risk in various ways. For example, you may diversify your investments, hedge against financial events, or implement simple stop-loss and take-profit orders. Introduction It's a well-known fact that investors and traders look to minimize risk. Even if your risk tolerance is high, you'll still, in some way, weigh the risk of your investments versus the payoff. However, there's more to risk management than just choosing less risky trades or investments. A comprehensive toolset of risk management strategies is available, many of which are suitable for beginners, too. Learn more on Binance.com What is risk management? Risk management entails predicting and identifying financial risks involved with your investments to minimize them. Investors then employ risk management strategies to help them manage their portfolio's risk. A critical first step is assessing your current exposure to risks and then building your strategies and plans around them. Risk management strategies Risk management strategies are plans and strategic actions traders and investors implement after identifying investment risks. These strategies reduce risk and can involve a wide range of financial activities. Some examples include taking out loss insurance and diversifying your portfolio across asset classes. In addition to active risk management practices, it is important to understand general risk management planning. There are four general planning strategies you can work with. Risk Management planning stratergies Acceptance: Deciding to take on the risk of investing in an asset but not spending money to avoid it as the potential loss isn't significant. Transference: Transferring the risk of an investment to a third party at a cost. Avoidance: Not investing in an asset with potential risk. Reduction: Reducing the financial consequences of a risky investment by diversifying across your portfolio. This could be within the same asset class or even across industries and assets. Why is a risk management strategy important in crypto? It's common knowledge that crypto, as an asset class, is one of the higher-risk investments available to the average investor. Prices have proven to be volatile, projects can crash overnight, and the technology behind blockchain can be challenging for newcomers to understand. With crypto moving rapidly, it's imperative to employ sound risk management practices and strategies to reduce your exposure to potential risks. This is also an essential step to becoming a successful and responsible trader. Strategy #1: Consider the 1% rule The 1% rule is a simple risk management strategy that entails not risking more than 1% of your total capital on an investment or trade. If you have $10,000 to invest and want to adhere to the 1% rule, there are a few ways to do so.  One would be to purchase $1,000 worth of bitcoin (BTC) and set a stop-loss or stop-limit order to sell at $9,900. Here, you would cut your losses at 1% of your total investment capital ($100). You could also purchase $100 of ether (ETH) without setting a stop-loss order, as you would only lose a maximum of 1% of your total capital if the price of ETH were to drop to 0. The 1% rule doesn't affect the size of your investments but the amount you are willing to risk on an investment. The 1% rule is especially important for crypto users due to the market's volatility. It can be easy to get greedy, and some investors may put too much into one investment and even suffer heavy losses expecting their luck to turn. Strategy #2: ​​Setting stop-loss and take-profit points A stop-loss order sets a pre-determined price for an asset at which the position will close. The stop price is set below the current price and, when triggered, helps protect against further losses. A take-profit order works the opposite way, setting a price at which you want to close your position and lock in a certain profit. Stop-loss and take-profit orders help you manage your risk in two ways. First, they can be set up in advance and will be executed automatically. There's no need to be available 24/7, and your pre-set orders will be triggered if prices are particularly volatile. This also allows you to set realistic limits for the losses and profits you can take.  It’s better to set these limits in advance rather than in the heat of the moment. While it can be strange to think of take-profit orders as part of risk management, you shouldn't forget that the longer you wait to take profit, the higher the risk the market could fall again while waiting for an  additional upside. Strategy #3: Diversify and hedge Diversifying your portfolio is one of the most popular and fundamental tools to reduce your overall investment risk. A diversified portfolio won't be too heavily invested in any asset or asset class, minimizing the risk of heavy losses from one particular asset or asset class. For instance, you may hold a variety of different coins and tokens, as well as provide liquidity and loans. Hedging is a slightly more advanced strategy to protect gains or minimize losses by purchasing another asset. Usually, these assets are inversely correlated. Diversification can be a type of hedge, but perhaps the most well-known example is futures. A futures contract lets you lock in a price for an asset at a future date. Imagine, for instance, you believe bitcoin's price will tumble, so you decide to hedge against this risk and open a futures contract to sell BTC for $20,000 in three months. If bitcoin’s price does indeed fall to $15,000 three months later, you will profit from your futures position.  It's worth remembering that futures contracts are settled financially, and you don't have to deliver the coins physically. In this case, the person on the other side of your contract would pay you $5,000 (the difference between the spot price and the futures price), and you would have hedged against the risk of bitcoin’s price falling. As mentioned, the crypto world is a volatile one. However, there are still opportunities to diversify within this asset class and use hedging opportunities. Diversification in crypto is much more crucial than in more traditional financial markets with less volatility. Strategy #4: Have an exit strategy ready Having an exit strategy is a simple but effective method for minimizing the risk of heavy losses. By sticking to the plan, you can take profits or cut losses at a pre-determined point. Often, it's easy to want to keep going when making gains or to put too much faith in a cryptocurrency even when prices are falling. Getting caught up in hype, maximalism, or a trading community can also cloud your decision-making. One way of successfully implementing an exit strategy is to use limit orders. You can set them to automatically trigger at your limit price, whether you want to take profit or set a maximum loss.  Strategy #5: Do Your Own Research (DYOR) DYOR is an integral risk-reduction strategy for any investor. In the Internet age, it's easier than ever to conduct your own research. Before investing in a token, coin, project, or other asset, you must do your due diligence. It's key that you check essential information about a project, such as its white paper, tokenomics, partnerships, roadmap, community, and other fundamentals. However, misinformation spreads quickly, and anyone can submit their opinions or online as facts. When conducting research, consider where you're getting your information and the context in which it's presented. Shilling is commonplace, and projects or investors can spread false, biased, or promotional news as if it were sincere and factual. Closing thoughts With the five risk management strategies outlined, you'll have an effective tool kit to help reduce your portfolio's risk. Even employing simple methods that cover most areas will help you invest more responsibly. At the other end of the scale, there's potential to create risk management plans with more advanced, in-depth strategies.  To dive deeper into the topic, refer to the following articles: How to Manage Risk and Trade Responsibly | Binance Support What Is the Risk/Reward Ratio and How to Use It | Binance Academy  3 Reasons Why Binance Futures Is The Preferred Hedging Venue For Traders    

Bitcoin and Ethereum picture There is a little bit for everyone in this move. The bulls record new, higher local highs and higher lows. On the other hand, the bears see that the recovery in Bitcoin is by no means gaining strength, and the rate remains tightly below the 200-week average. Ethereum added 0.9% over the week to $1610. Other leading altcoins from the top 10 rose from 3.1% (Cardano) to 11.9% (BNB). Total cryptocurrency market capitalisation, according to CoinMarketCap, rose 2.8% for the week, to $1.05 trillion, but by Monday, had rolled back 1.9% to $1.03. The Cryptocurrency Fear and Greed Index rose 6 points for the week, to 40 and remains in "fear" mode. Cryptocurrency Market News  Decentralised application tracking platform DappRadar reported that the number of active cryptocurrency wallets increased by 7% in October compared to the previous month, which may indicate the end of the crypto winter. According to ForkLog, trading volume on leading cryptocurrency exchanges fell 25% in October to its lowest level since December 2020. Bitcoin miners' total revenue in October was up 7% compared to the previous month. The share of public miners in the BTC hashtag reached 25%. The European Parliament has postponed until February next year a final vote on the MiCA cryptocurrency regulation bill. The extensive and technically complex document must be translated into 24 official languages. Goldman Sachs is partnering with Coin Metrics and MSCI to introduce a tool called Datonomy that allows investors to track cryptocurrency market movements and quickly analyse the digital asset ecosystem.

Crypto Industry News: Jack Dorsey, one of the founders and former CEO of Twitter, is preparing a new social networking site - Bluesky Social. It will be a place for those who do not like the fact that the first platform was bought by Elon Musk. According to the creators, Bluesky Social is to be the first decentralized social network. What does this mean in practice? This is not known yet. It is possible, however, that it will mean a continuation of Dorsey's experiments with blockchain and cryptocurrencies. When will the portal be launched? You won't have to wait very long for this event. The Bluesky Social app is currently in a test version. Its capabilities are tested by a limited group of users. However, is talking about "new Twitter" justified? In addition, is such an application valid today? First of all, remember that similar attempts to beat Twitter's nose (back in the reign of Dorsey) have already taken place. Rather, they ended in failure. At this point, it is enough to mention Truth Social, the project behind which is Donald Trump, the former US president, whose Twitter account has been blocked. The Polish Albicla, which was supposed to be a social networking site for the right, also belongs to the group of not very successful clones of Twitter or Facebook. Technical Market Outlook: The ETH/USD pair has made a new local high at the level of $1,665, made a PinBar candlestick and immediatley started a dynamic sell-off that terminated at the level of $1,533 after 14% drop. The bearish pressure is still high and the next target for bears is seen at the level of $1,502. The momentum is weak and negative already on the H4 time frame chart, so the down move might continue lower. In order to extend the recent impressive rally and reverse the trend to the up trend the market must break above the last swing high seen at $1,785. Weekly Pivot Points: WR3 - $1,635 WR2 - $1,605 WR1 - $1,587 Weekly Pivot - $1,575 WS1 - $1,557 WS2 - $1,544 WS3 - $1,514 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.       Relevance up to 11:00 2022-11-09 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/300085

Crypto Industry News: Cryptocurrency rates are dropping quite sharply as investors' concerns about the solvency of the FTX cryptocurrency exchange and the state of customer funds are pushing BTC and ETH prices closer to new lows, and the potential possibility of spilling into other markets negatively affects the entire cryptocurrency market. Earlier that day, Bitcoin BTC, the Binance BNB cryptocurrency, Ethereum ETH, FTX FTT token, and Solana SOL experienced a spike in the news that Binance would take over FTX, but the rebound was short-lived and ended quickly. After the Binance FTX news came out, BNB looked like the winner of the day, but the overall market crisis did not spare the stock token, which is currently $ 328, reflecting a loss of 2.6%. Concerns about the FTX stock exchange saw the market plummet after Binance's initial LOI for FTX spurred the markets to rise. According to reports, FTX was apparently trying to raise $ 6 billion in funding to fill a gap on its balance sheet, potentially putting the deal at risk. The cryptocurrency industry and regulators have long disagreed due to various misunderstandings or distrust of the actual use case of digital assets. Without a working framework for regulating the crypto sector, different countries and states have tons of conflicting rules about the classification of cryptocurrencies as assets and exactly what constitutes a legal payment system. Technical Market Outlook: The ETH/USD pair has made a new local low at the level of $1,266 in form of a Pin Bar candlestick and immediately started a dynamic bounce. Nevertheless, the bearish pressure is still high and the next target for bears is seen at the level of $1,191 (yearly low's). The momentum is weak and negative already on the H4 time frame chart, so the down move might continue lower. The nearest technical resistance is seen at the level of $1,343. In order to extend the recent impressive rally and reverse the trend to the up trend the market must break above the last swing high seen at $1,785. Weekly Pivot Points: WR3 - $1,635 WR2 - $1,605 WR1 - $1,587 Weekly Pivot - $1,575 WS1 - $1,557 WS2 - $1,544 WS3 - $1,514 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 09:00 2022-11-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/300258

Crypto Industry News: Facebook's parent company Meta will begin cutting 11,000 of its 87,000 employees on Wednesday morning, the company said on Tuesday. Meta CEO Mark Zuckerberg released a statement explaining why the company is making the cut and what went wrong in the development of the tech giant and social media: "We are basically making all of these changes for two reasons," he wrote. "Our revenue forecasts are lower than expected earlier this year, and we want to make sure we're operating efficiently with both Family of Apps and Reality Labs." Zuckerberg said he believed the prediction that the massive pandemic-induced rise in e-commerce would represent a lasting shift in consumer behavior, and invested the company's resources accordingly. "Unfortunately, it did not go as expected," he said. "Not only has online trading failed to return to previous trends, but the macroeconomic slowdown, increased competition and loss of ad signal have resulted in our revenues being much lower than expected." I made a mistake and I take responsibility for it. The company announced that the layoffs will affect every organization in Family of Apps and Reality Labs, but recruiting staff will be "disproportionately affected" by the company's extended job freeze, and that business teams will also be "cut more significantly." In addition to the layoffs, the largest in the company's history, Zuckerberg outlined several other austerity measures, including reducing budgets and benefits and reducing the company's presence in the real estate market. Zuckerberg said the company will focus its resources on "fewer high priority growth areas," including the AI engine, advertising and business platforms. The meta lost more than $ 80 billion in market value in October after it reported a profit of $ 4.4 billion, down 52 percent in the third quarter. On February 3, the company saw its biggest one-day slump in U.S. history, shedding $ 230 billion in market value after exceeding targets for Q4 2021. But despite investors and tech experts pointing to the company's exaggerated virtual reality hopes and investment as the main reason behind Meta's underperformance, Zuckerberg listed his "long-term meta-universe vision" among his top priorities for the future. Technical Market Outlook: The ETH/USD pair has made a new local low at the level of $1,077in and immediately started a dynamic bounce towards the level of $1,191. Nevertheless, the bearish pressure is still high and the next target for bears is seen at the level of $886 (yearly low's). The momentum is weak and negative already on the H4 time frame chart, so the down move might continue lower. The nearest technical resistance is seen at the level of $1,191 - $1,219 (old demand zone, now will act as the supply zone). In order to extend the recent impressive rally and reverse the trend to the up trend the market must break above the last swing high seen at $1,785. Weekly Pivot Points: WR3 - $1,635 WR2 - $1,605 WR1 - $1,587 Weekly Pivot - $1,575 WS1 - $1,557 WS2 - $1,544 WS3 - $1,514 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-11-11 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/300443

The upbeat market mood remains intact on the last trading day of the week as investors cheer the soft inflation data from the US and news of China easing the Covid-related restrictions. The US Dollar Index continues to edge lower below 108.00 after having lost more than 2% on Thursday and global stock indices push higher. Bond markets in the US will be closed in observance of the Veterans Day holiday but Wall Street will operate at the usual hours. The US economic docket will feature the University of Michigan's Consumer Sentiment Survey (preliminary) for November and investors will keep a close eye on central bank speakers ahead of the weekend. The US Bureau of Labor Statistics announced on Thursday that inflation in the US, as measured by the Consumer Price Index (CPI), declined to 7.7% on a yearly basis in October from 8% in September. The Core CPI, which excludes volatile food and energy prices, fell to 6.3% from 6.6% in the same period. With both of these readings coming in below market expectations, the CME Group FedWatch Tool's probability of a 50 basis points Fed rate hike in December jumped above 80% from 50% earlier in the week. In turn, major equity indexes in the US registered impressive gains, the US Dollar suffered heavy losses and the benchmark 10-year US Treasury bond yield declined toward 3.8%, losing nearly 7% on the day. US Inflation Analysis: Hiking is hard in the fog, Dollar set to decline (until the next CPI). Earlier in the day, China's National Health Commission announced that they have decided to reduce the required quarantine times for travellers and people who had close contact with identified Covid cases. The Shanghai Composite Index was last seen rising nearly 2% on the day and Hong Kong's Hang Seng Index was up 6.8%. Reflecting the risk-positive market environment, US stock index futures are rising between 0.5% and 0.7%.  The UK's Office for National Statistics (ONS) reported on Friday that the Gross Domestic Product (GDP) grew at an annualized rate of 2.4% in the third quarter, compared to the market expectation of 2.1%. Other data from the UK showed that Industrial Production expanded by 0.2% on a monthly basis in September. GBPUSD largely ignored the latest data and was last seen moving sideways slightly above 1.1700. EURUSD registered impressive gains on Thursday and continued to edge higher during the Asian trading hours on Friday. The pair was last seen trading at its highest level since mid-August slightly above 1.0200. USDJPY lost more than 400 pips on Thursday and touched its weakest level in seven weeks near 140.00 before staging a rebound on Friday. At the time of press, USDJPY was up 0.5% on the day at 141.65. Fueled by plunging US Treasury bond yields, gold price rose nearly 3% on Thursday and registered one of its largest one-day gains of the year. XAUSD is currently trading above $1,750 and it's up nearly 5% since the beginning of the week. Bitcoin gained 10% on Thursday after having lost more than 20% in the first half of the week. BTCUSD, however, seems to be having a difficult time gathering bullish momentum early Friday as markets keep a close eye on developments surrounding the FTX drama. As of writing, Bitcoin was down nearly 2% on the day at $17,250. Ethereum trades in negative territory at around $1,250 early Friday following Thursday's 17% gain. California financial regulator announces FTX investigation. Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Cryptos bounce as FTX CEO vows to do right by investors.

TL;DR Venus Protocol is an algorithm-based money market system on the BNB Chain. It aims to allow users to lend and borrow cryptocurrency in a decentralized and secure way. The protocol is permissionless, so anyone can start using it by connecting crypto wallets like MetaMask. Venus Protocol's community owns and controls the protocol through its native governance token, XVS, which can be staked in the Venus Protocol Vault to earn token rewards. Introduction Decentralized finance (DeFi) has begun to offer an increasing number of services typically associated with traditional finance. With Venus Protocol, users can permissionlessly lend or borrow from a pool of assets, and suppliers of collateral can benefit from their passive funds. However, instead of a centralized player handling transactions, the protocol automates the process using technologies such as smart contracts. Learn more on Binance.com What is Venus Protocol and how does it work? Venus Protocol is an algorithmic money market and synthetic stablecoin protocol. Traditionally, the money market is an essential part of the economy that deals with short-term loan needs. Now, however, Venus is bringing decentralized finance (DeFi) lending and borrowing onto the BNB chain. It also allows collateral suppliers to mint the platform's native synthetic stablecoins (VAI) by over-collateralizing positions. Venus Protocol is a fork of Compound and MakerDAO. Both are Ethereum-based, with the first being a money market protocol and the second, a stablecoin minting protocol. Venus integrates these functions into one, allowing users to utilize the same collateral within one ecosystem, regardless of which function they use. You can think of the Venus Protocol as a permissionless lending environment. Firstly, it allows BNB Chain users with idle cryptocurrency to supply collateral to the network. Secondly, users who need more can borrow by pledging over-collateralized cryptocurrency. Lenders then receive compounded annual interest rates, while borrowers pay interest on their respective loans. The interest rates for lending and borrowing are set by the protocol in a curve yield that varies based on utilization. These rates are automated according to the demands of the specific market, such as BNB or ETH. However, the protocol’s governance process also sets minimum and maximum interest rate levels. Synthetic stablecoin minting takes place using vTokens, from the collateral users provide to the Venus Protocol. vTokens represent deposited collateral — for example, users receive vUSDT for supplying USDT, which they can later redeem for the underlying collateral. Users can also borrow up to 50% of the collateral value they have on the protocol from their vTokens to mint VAI. Venus Protocol determines stablecoin interest rates differently from how it does lending and borrowing interest rates. The interest rates for minting are fixed and only the protocol’s governance process is allowed to lower and raise these rates. The history of Venus Protocol Venus Protocol was founded by a project development team from global cryptocurrency credit card issuer Swipe, with Venus (XVS) launching in 2020. From the beginning, it aimed to bridge the gap between traditional finance and DeFi on the BNB Chain and provide users with an alternative application free from the issues they’d experienced on Ethereum. Though Swipe supported the development of the Venus Protocol, there were no XVS token pre-mines for developers, or founders. As such, XVS holders have complete control over the protocol and token. Venus Protocol redefines its rules according to community preferences. For example, the Venus V2 upgrade included higher VAI liquidation penalties. It also introduced fees for VAI minting and platform withdrawals, both of which were added to the Venus Reserves Treasury. Additionally, the upgrade included an airdrop of the native Venus Reward Token (VRT) to current XVS holders as a reward. What is possible on Venus Protocol? Venus Protocol enables users to permissionlessly lend and borrow from a pool of assets. Users can also mint stablecoins (VAI) with over-collateralized positions and participate in the protocol's governance. Lending Users can lend and earn changing yield on the assets they supply. Venus Protocol creates pools of these loaned cryptocurrencies using a smart contract and periodically distributes vTokens to them. This way, the protocol unlocks unused value that is already on the BNB Chain but doesn't have a lending market like Bitcoin and Litecoin do. Borrowing Venus Protocol utilizes an over-collateralized loan system that requires borrowers to pledge collateral before borrowing. For example, if Ethereum has a collateral value of 50%, users can borrow up to 50% of the value of their own ETH. They can then have a say in the collateral ratio through the protocol’s governance process. However, according to Venus Protocol’s white paper, the collateral value is typically around 40% to 75%. Users must exercise caution because if the collateral value falls too low, their position will be liquidated.  Minting stablecoins The minting and redemption of the synthetic stablecoin VAI is fixed at 1 USD, though its price can still fluctuate according to the supply and demand.  Venus Protocol users can mint the stablecoin using remaining collateral from previous vToken deposits. Furthermore, anyone can mint stablecoins without central authorities and use newly minted stablecoins for purposes such as earning yield on other DeFi projects. Governance Users can also influence the future of the Venus Protocol. The protocol is completely controlled by the community through its governance token XVS, which is a BEP-20 token that can be used for voting. Users can vote on a number of protocol-related issues, including improvements, adding new tokens to the protocol, adjusting interest rates, and reserving distribution schedule delegations. Venus Protocol also plans to build a product called Venus Vault that will enable users to lock governance tokens to improve the protocol’s anti-risk ability and distribute staking rewards. What makes Venus Protocol unique? Venus Protocol helps to bring common financial lending services to blockchain-based decentralized protocols, though it is not the first to do so — there are Ethereum-based DeFi applications with assets worth billions of dollars locked into them. However, these applications have their pain points, such as high costs, low network speed, and a lack of cryptocurrencies from other blockchains (e.g., XRP and Litecoin). Venus Protocol differs from many other money market protocols in that it enables the use of supplied collateral for not only borrowing, but also for minting stablecoins. In addition, users can earn yield from minted tokens, as opposed to other protocols that lock such tokens up in smart contracts, with no benefits from underlying assets. Venus Protocol eliminates the need to remove one’s own assets from a money market to mint stablecoins. Unlike many prominent stablecoins, Venus Protocol’s synthetic stablecoins are not backed by traditional financial assets or fiat but by a basket of other cryptocurrencies. Moreover, BNB Chain makes transactions fast and low-cost while providing a network of wrapped tokens and liquidity. Closing thoughts Venus Protocol combines the money market and stablecoin generation within the same protocol, which can benefit the crypto ecosystem by unlocking collateral. Furthermore, BNB Chain's speed and low transaction costs open these financial products to anyone who owns a cryptocurrency wallet. Now, people worldwide can borrow against, earn interest on, and supply collateral, as well as mint stablecoins on demand. Further reading What Is Qtum (QTUM)? What Is Band Protocol (BAND)? What Is NEXO (NEXO)? What Is BNB?

NFT Collectibles [COMING SOON] “Altered States” is a creation of Fran Rodríguez, a digital artist based in Barcelona. Fran is known for his striking images, depicting his interpretation of humanity’s place in the universe. This collection drops on 15 November, taking place at Crypto.com NFT. [COMING SOON] In Ali Jardine’s NFT collection, “Lucid State of Dreams”, she explores different types of consciousness along with birth, death, joy, fear, love, and earth magic. This drop on Crypto.com NFT includes 11 meditative animated pieces, and will begin on 22 November. Blockchain Games [LIVE] AstroGator: Reborn is a blockchain-based game by a veteran of the gaming industry—Game Hours. Starting on November 7, this newly launched play-to-earn (P2E) game will feature NFTs first launched by Crypto.com. [LIVE] CroSkulls, a game on the Cronos blockchain, has launched Seasonal Pet — Season 3. This new season features a water element pet (crab). The SkullCrabs will come in three different variants: Baby Crabs, Crabs, and DemonCyborg Crabs. NFT Metrics The following table shows select top creators (by weekly sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Floor Price (USD)Sample OpenSea CryptoPunks $5,134,000(+9%) $84,600 OpenSea Bored Ape Yacht Club $4,340,600(+104%) $77,300 Crypto.com NFT Loaded Lions $470,000(+93%) $2,200 Minted VVS Miner Mole $116,800(-2%) $399 Minted Argonauts $29,800(-1%) $84 Crypto.com NFT Cyber Cubs $17,100(+3%) $258 Platform OpenSea Collection CryptoPunks Sales Volume (USD) $5,134,000(+9%) Floor Price (USD) $84,600 Sample Platform OpenSea Collection Bored Ape Yacht Club Sales Volume (USD) $4,340,600(+104%) Floor Price (USD) $77,300 Sample Platform Crypto.com NFT Collection Loaded Lions Sales Volume (USD) $470,000(+93%) Floor Price (USD) $2,200 Sample Platform Minted Collection VVS Miner Mole Sales Volume (USD) $116,800(-2%) Floor Price (USD) $399 Sample Platform Minted Collection Argonauts Sales Volume (USD) $29,800(-1%) Floor Price (USD) $84 Sample Platform Crypto.com NFT Collection Cyber Cubs Sales Volume (USD) $17,100(+3%) Floor Price (USD) $258 Sample Blockchain Game Metrics The following table shows select top games by weekly Unique Active Wallets (UAW): GameBlockchain(s)UAWVolumeLogo Splinterlands Hive, Wax 278K(-4%) $4K Trickshot Blitz Flow 134K(+16%) $86K Axie Infinity Ronin, ETH 54K(-14%) $17M Solitaire Blitz Flow 43K(+36%) $63K Era7: Game of Truth BNB Chain 42K(+27%) $98K Game Splinterlands Blockchain(s) Hive, Wax UAW 278K(-4%) Volume $4K Logo Game Trickshot Blitz Blockchain(s) Flow UAW 134K(+16%) Volume $86K Logo Game Axie Infinity Blockchain(s) Ronin, ETH UAW 54K(-14%) Volume $17M Logo Game Solitaire Blitz Blockchain(s) Flow UAW 43K(+36%) Volume $63K Logo Game Era7: Game of Truth Blockchain(s) BNB Chain UAW 42K(+27%) Volume $98K Logo Source: DappRadar Gaming Token Performance The total market cap for gaming tokens now stands at US$7.0 billion, down -17% from last week. News Highlights OpenSea launches an on-chain tool to enforce NFT royalties. The royalty enforcement tool currently only applies to new NFT collections, while a decision will be made on existing collections on a later date. The Bank of Korea tested NFT trading during a 10-month-long experiment of a digital South Korean won. During the project, the bank tested the use of its CBDC to purchase NFTs. South Korea also plans to allow its citizens access to blockchain-powered digital IDs in 2024. Paris Saint-Germain forward Lionel Messi is joining the NFT trading card game Sorare as an investor and brand ambassador. In Sorare, players can trade digital player cards and manage teams of five in fantasy soccer tournaments. Recent Research Reports     Research Roundup Newsletter [October 2022] In this issue, we cover our recent Bloomberg Terminal integration, special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility. NFT Financialisation and Utility: An Overview As NFT utility grows, so does the potential to make money from them. Financialisation could help to achieve greater liquidity for and unlock the value of NFTs. NFT Utility: A Multifaceted Overview and Use Cases For NFTs to increase in value and be deemed viable economic and financial assets, they have to go beyond collectability and aesthetics. One way to tackle this is through utility.         Research Roundup Newsletter [October 2022] In this issue, we cover our recent Bloomberg Terminal integration, special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility.   NFT Financialisation and Utility: An Overview As NFT utility grows, so does the potential to make money from them. Financialisation could help to achieve greater liquidity for and unlock the value of NFTs.   NFT Utility: A Multifaceted Overview and Use Cases For NFTs to increase in value and be deemed viable economic and financial assets, they have to go beyond collectability and aesthetics. One way to tackle this is through utility. Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile.

Crypto Industry News: Basketball player Scottie Pippen, who won six NBA championships with the Chicago Bulls in the 1990s, has his NFT. It resembles graphics associated with the cult CryptoPunks series. Scottie Pippen received a personalized NFT that works based on Arbitrum. The athlete tweeted a photo of himself wearing the number 33 jersey with an NFT avatar added next to it. The token was created via the Smolverse platform. The basketball player added that he is ready to test the next generation of NFT products. NFT graphics resemble images from the CryptoPunks collection, which were sales hits in 2021. Scotty Maurice Pippen, more commonly known as Scottie Pippen, is an American basketball player who plays as a small forward and is a six-time National Basketball Association champion. He played for the Chicago Bulls. In 2010, he was included in the Basketball Hall of Fame. James Naismith. He was also honored with a bronze statue unveiled at the United Center on April 7, 2011. Technical Market Outlook: The bulls had managed to retrace 38% of the last wave down on Ethereum and made a new local high at the level of $1,347. Nevertheless, the bearish pressure is still high and the next target for bears is seen at the level of $886 (yearly low's). The market has been seen moving down all weekend long as the momentum is still weak and negative on the H4 time frame chart. The nearest technical resistance is seen at the level of $1,343. In order to extend the recent impressive rally and reverse the trend to the up trend the market must break above the last swing high seen at $1,785. Weekly Pivot Points: WR3 - $1,247 WR2 - $1,237 WR1 - $1,231 Weekly Pivot - $1,227 WS1 - $1,221 WS2 - $1,217 WS3 - $1,207 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 09:00 2022-11-15 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/300859

Crypto Industry News: Recently, the market was informed that a wallet allegedly linked to Vitalik Buterin sold 3,000 ETH worth approximately USD 3.75 million on Saturday, November 12. ETH was converted to stablecoins via Uniswap. This quite fresh story has already been commented on by Evan Van Ness, one of the most important developers in the Ethereum community. Van Ness denied the reports and said Vitalik Buterin had told him that the wallet in question did not belong to him. Internet portals tried to reach Buterin directly for independent confirmation, however, still failed. Technical Market Outlook: The bearish pressure on Ethereum is still strong and the next target for bears is seen at the level of $886 (yearly low's). The market has been consolidating in a narrow range as the momentum is still weak and negative on the H4 time frame chart. The nearest technical resistance is seen at the level of $1,343 and the intraday technical support is seen at $1,191. In order to extend the recent impressive rally and reverse the trend to the up trend the market must break above the last swing high seen at $1,785. Weekly Pivot Points: WR3 - $1,247 WR2 - $1,237 WR1 - $1,231 Weekly Pivot - $1,227 WS1 - $1,221 WS2 - $1,217 WS3 - $1,207 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 09:00 2022-11-16 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/301047

Last week was one of the worst stretches for the crypto industry over the past two years. The main assets have updated local lows, and the market capitalization has decreased to $740 billion. Ethereum last week Quotes of the main altcoin also sank significantly following the results of the previous trading week. Ethereum fell in price from $1,650 and updated the local bottom around the round $1,000 mark. However, unlike Bitcoin, Ethereum has managed to attract the attention of big business. Ethereum was falling down to the level of $1,200, where stability appeared, which indicated the activation of buyers. Santiment confirm that the buying sentiment of the big business towards ETH has increased significantly during the market crash. Analysts noted that addresses holding 100,000–1,000,000 ETH bought more than 650,000 ETH at the peak of the market decline. In part, it was the activation of big capital that allowed Ethereum to slow down the fall near the $1,200 area and maintain the $1,000 level. A massive buyout of ETH/USD near $1,000 indicates the market's readiness to defend this frontier. In the medium term, this may mean that the local bottom of the main altcoin is formed precisely in the range of $1,000–$1,200. ETH/USD analysis The second key moment, showing the stability of ETH in comparison with Bitcoin, is a powerful attempt to form a bullish engulfing pattern on November 10th. The bulls failed but allowed the altcoin to gain a foothold above $1,200. Subsequently, Ethereum continued its local decline, following Bitcoin, but managed to maintain the $1,200 support zone. In the short term, the main target of the altcoin will be the line of $1,280–$1,350. If it breaks out of this zone, ETH will follow to the resistance level near $1,450. On the daily chart, the situation looks uncertain, as the potential of the bulls was exhausted after the retest of the $1,300 level. At the end of the current trading day, ETH is trying to storm the upper border of the $1,350 area, but technical metrics indicate the weakness of buyers. The MACD indicator on the daily chart is moving in a downward direction in the red zone. At the same time, the stochastic oscillator has formed a bullish crossover near the level of 35, and the RSI shows an increase in buying activity. The probability of a breakdown of $1,300 at the end of the current trading day is small since, before that, Ethereum had been moving near the $1,300 level for more than a month. In addition, the market is not in optimal conditions to maintain an upward momentum. Daily ETH trading volumes barely reach $13 billion. Results Ethereum needs a local pause to stabilize the situation and reduce the level of volatility. The fundamental interest in Ethereum is much higher than in Bitcoin at the current stage. Given this, it is likely that it is the altcoin that will resume the recovery movement towards the $1,500–$1,600 levels. In addition, do not forget that Glassnode experts record the largest increase in stablecoins on exchanges in history. Historically, the growth in the volume of stablecoins indicates the readiness of large capital for mass purchases. Given the growing open interest of "whales" in ETH, there is every reason to believe that altcoin will be the priority target for buying.     Relevance up to 10:00 2022-11-16 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/327160

Crypto Industry News: While the eyes of the entire cryptocurrency world have recently turned to the stench caused by the demise of FTX, the work on introducing the biggest nemesis of supporters of financial freedom and anonymity, the infamous Central Bank Digital Currency (CBDC) is in full swing. According to information published by the media, the largest banking giants (including Citigroup Inc, HSBC Holdings, Mastercard, Wells Fargo) in partnership with the New York branch of the FED are just starting a 12-week pilot CBDC program. According to information from representatives of the Innovation Center at the New York branch of the Federal Reserve Bank, the project is referred to as a working "regulated accountability network" and will be carried out in a test environment using simulated data. The official goal of the pilot program is to test whether banks will be able to accelerate payments using digital dollar tokens in a common database. Recently, the head of the New York Fed's market group, a certain Michelle Neal, admitted that the possibilities of speeding up the time of settlement in the foreign exchange markets thanks to CBDC look "really promising". Technical Market Outlook: The Ethereum market has been seen consolidating in a narrow range located between the levels of $1,219 - $1,281 as the traders await for a trigger of the next wave up or down. So far the bulls retraced above 38% of the last wave down and been capped at the local high seen at $1,347. The intraday technical support is seen at $1,219, $1,191 and $1,170 (H4 Pin Bar low). The intraday technical resistance is located at $1,281 and $1,343. Momentum on the H4 time frame chart remains bouncing up and down around the neutral level of fifty. Weekly Pivot Points: WR3 - $1,247 WR2 - $1,237 WR1 - $1,231 Weekly Pivot - $1,227 WS1 - $1,221 WS2 - $1,217 WS3 - $1,207 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 10:00 2022-11-17 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/301241

Crypto Industry News: The bankruptcy of the FTX exchange founded by Sam Bankman-Fried and the mysterious events related to it have recently electrified the cryptocurrency community from around the world. Once again, thousands of investors have lost their funds, and more bankruptcies are looming on the horizon, as both FTX and Alameda Research have sponsored many smaller, but also leading projects in the digital asset industry. To ensure the transparency and security of user funds, the largest crypto exchanges publish audits and reports of their portfolios en masse. The platform founded by CZ is one of the main drivers of the recent turmoil. Now, as one of the first, she decided to introduce clients to the complexity of her portfolio. How does he present himself? The funds are located in 65% on the Ethereum chain, and in 19.12% on the TRON network. Next are the Bitcoin blockchain (10.65%) and the popular BNB Chain (5.15%). The total amount in dollars is over 64.3 billion. The allocation of tokens seems to be very well thought out, because the list below shows only fundamentally strong projects. We could write for hours about the current state of the largest crypto exchanges. Currently, there are discussions whether the platforms do not falsify their reports, helping themselves temporarily in shaping the portfolio. Regardless of how honest their current movements are, it is worth at least diversifying the location of your funds for your own peace of mind, among other things, into hardware wallets that are generally considered safe. Technical Market Outlook: The Ethereum market has been seen consolidating in a narrow range located between the levels of $1,219 - $1,281 as the traders await for a trigger of the next wave up or down. The volatility is very low, however the bulls retraced 38% of the last wave down and were capped at the local high seen at $1,347. The intraday technical support is seen at $1,219, $1,191 and $1,170 (H4 Pin Bar low). The intraday technical resistance is located at $1,281 and $1,343. Momentum on the H4 time frame chart remains bouncing up and down around the neutral level of fifty. Weekly Pivot Points: WR3 - $1,247 WR2 - $1,237 WR1 - $1,231 Weekly Pivot - $1,227 WS1 - $1,221 WS2 - $1,217 WS3 - $1,207 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2022-11-18 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/301387

Crypto Industry News: His entry was mostly warmly received by people and speculators talking about whether we have finally reached the long-awaited Bitcoin (BTC) low and we can talk about creating the foundations for a new bull market. Bukele's statement was also referred to by the creator and CEO of Tron (TRX), who also announced that his company, like El Salvador, intends to buy 1 BTC per day from tomorrow. Recall that El Salvador currently owns 2,381 Bitcoins (BTC), in which it has invested a total of $103 million. The value of Bukele's Bitcoin investment fell to $39.4 million. This will be the first Bitcoin (BTC) purchase made since June 30. The strategy of buying BTC announced by the president of El Salvador and the founder and CEO of Tron (TRX) is widely known as DCA (Dollar-Cost Averaging), or "averaging the purchase price" and if you watched YouTube guides on investing in cryptocurrencies (and not only), and there are certainly such people among you, then you have certainly met the term described many times. Currently, the average price at which El Salvador purchased BTC is $ 43,000. Starting purchases at the time of the lowest Bitcoin quotations in the current cycle (so far) should help Salvador compensate for some of the, quite substantial, losses. Technical Market Outlook: The Ethereum market has been seen consolidating in a narrow range located between the levels of $1,219 - $1,281 as the traders await for a trigger of the next wave up or down. The volatility is very low, however the bulls retraced 38% of the last wave down and were capped at the local high seen at $1,347. The intraday technical support is seen at $1,219, $1,191 and $1,170 (H4 Pin Bar low). The intraday technical resistance is located at $1,281 and $1,343. Momentum on the H4 time frame chart remains bouncing up and down around the neutral level of fifty. Weekly Pivot Points: WR3 - $1,247 WR2 - $1,237 WR1 - $1,231 Weekly Pivot - $1,227 WS1 - $1,221 WS2 - $1,217 WS3 - $1,207 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2022-11-19 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/301588

Cryptocurrencies are certainly an area that has become increasingly popular in recent years. However, it requires some familiarity with new terms and understanding how the modern investment market in this industry works. Altcoin Definition At the very beginning, only Bitcoin was known as the first cryptocurrency in the world that was based on blockchain technology. But the question arises, what is an altcoin? It is primarily a term for an alternative coin, built from the combination of the English words alternative and coin. An altcoin is any new currency that was created after Bitcoin, even if it uses the same software. Altcoin vs Bitcoin Altcoins are referred to as cryptocurrencies or tokens - regardless of the name, they share similar keys used to transfer currency between owners' virtual wallets. Many types of altcoins are built on a similar system as Bitcoin, but each has distinctive features - some focus on improving features that Bitcoin was less than perfect. Altcoin is a lower value currency, which makes it perfect for smaller transactions. There is also a difference between Bitcoin and altcoin in terms of the number of cryptocurrency units in circulation or determining the maximum number of coins. More and more cryptocurrencies are becoming serious competition for Bitcoin, and Altcoins worth attention are primarily those that use ready-made platforms or create their own with a specific specificity. Thanks to this, several of the largest Altcoins stand out on the market, such as: Ether, Ripple and Litecoin. Memecoins What is it? Meme coins are cryptocurrencies inspired by memes or jokes on the Internet and social media. Meme coins are usually very volatile. They are mostly community driven and can go viral overnight with online community endorsements and FOMO. Still, their price may also drop unexpectedly as investors turn their attention to the next meme coin. Another feature of meme coins is that they often have a huge or unlimited supply. Since meme tokens generally do not have a coin-burning mechanism, the huge supply explains their relatively low prices. For just $1, you can buy millions of meme tokens. The first The first meme coin created was Dogecoin (DOGE). Released in 2013 as a parody, DOGE was inspired by the popular Doge meme, which is a Japanese Shiba Inu dog with a rather funny expression. Other meme coins Shiba Inus (SHIB) is DOGE's rival and is often referred to as the "Dogecoin Killer". The main difference between DOGE and SHIB is that the latter has a limited supply of 1 quadrillion tokens. Dogelon Mars (ELON) closely follows the dog duo in terms of popularity. As the name suggests, ELON is named after Tesla CEO Elon Musk and his passion for SpaceX. ELON is a fork of Dogecoin and has a supply of 557 trillion tokens in circulation. The risk As with all cryptocurrencies, trading and investing in meme coins involves high financial risk. Compared to BTC, most meme coins tend to be inflationary with no maximum supply. Their ecosystem, uses, and foundations are often defined by collective community jokes. Only a few meme coins have been built on big cryptocurrency technology. Another potential risk is that meme coins are heavily community-driven and more speculative than larger market cap cryptocurrencies. This instability constantly leads to unexpected ups and downs. The life cycle of meme coins is generally short-lived. FOMO Discussing meme coins, FOMO appeared as a factor affecting the situation of cryptocurrencies, but what is it? FOMO is short for "Fear of Missing Out", so it's also a psychological term. In practice, the FOMO phenomenon can be illustrated with a simple example in which you learn about a new coin with huge potential. Everyone is talking about it, and the media is starting to present it as the new Bitcoin. Everything indicates that its price will increase rapidly and rapidly, so in fear of missing out, you decide to buy it without much thought. This is FOMO, i.e. taking action not based on analysis and reason, but emotions related to the fear of missing the "opportunity". FOMO also can be a marketing strategy to use by creating investor fear of losing out as a way to encourage investors to act. Source: investing.com,

Centuries ago, money was associated with various values, mainly precious and semi-precious metals. In modern times, they can be in the form of coins or banknotes, but also accounting entries in accounts. But what is digital money? It does not necessarily have to be identified with cryptocurrencies. Moreover, the market of digital coins is constantly developing and thus financial services that are based on blockchain technology. It is worth getting acquainted with the famous one - DeFi. DeFi - Decentralized finance What is it? DeFi is a term for financial services that are based on blockchain technology (primarily Ethereum). They allow you to perform traditional transactions: purchase, sale, you can also trade assets or take out loans. In other words, they offer practically everything that traditional banks offer. The difference is that DeFi is decentralized – it is peer-to-peer. Transactions take place directly between two people, so there is no need for an intermediary such as a bank. Strengths Decentralized finance has undoubted advantages that traditional financial institutions cannot boast of. When using DeFi, you don't have to enter your full details: name, surname, home address, and the transaction is almost instantaneous. Speed and privacy protection can be considered as the main advantages. To use DeFi, you don't have to submit any applications or fill out documents to, for example, open an account. However, the exclusion of intermediaries means that costs such as commissions disappear. Disadvantages Decentralized finance has the potential to revolutionize the financial market, but that doesn't mean that it doesn't have flaws. Among the most important ones, it is worth mentioning that blockchain technology is complicated and still available only to a small group of people. Many DeFi applications also have bugs and need optimization, which is due to, among others, from the early stages of product development. What's more, there is no 100% guarantee against hacking. CBDC What is it? Giving up the physical form of money in circulation and introducing only digital money is a postulate put forward by economists around the world. It is related to the concept of CBDC. an abbreviation of the English phrase "Central bank digital currency". It is a monetary policy tool already used by central banks around the world. It is used to carry out transactions between commercial banks. The accounts of such entities, which are kept by central banks, have been using the aforementioned digital currency for years. CBDC and cash are not the same CBDC should be treated as a modern, completely different form of central bank money, different from cash and money available to selected entities on accounts maintained at the central bank. CBDC differs a lot from money in the form of cash. Among others: digital form, possibility of programming - thanks to the use of automatic transaction execution after meeting the set conditions, easy to use for payments, anonymity, universal availability. There is no one, always-proven, universal model of CBDC emission. Everything depends on the conditions and socio-economic goals Consequences of the introduction of CBDC There is no doubt that serious consequences of the introduction of CBDC await us. Digital currency may become the basic and only means of payment. Its implementation will have a specific impact on the functioning of: banking system, countries in terms of financial stability, the country's monetary policy, payment system. Economically, central bank digital money carries many potential risks. The introduction of CBDC will have numerous consequences from the point of view of the society and the banking sector, which will concern the sources of financing of the undertaken projects. The importance of deposits may be marginalized, which will result in an increase in the importance of issuing securities of a certain type. Another consequence of the introduction of CBDC may be a reduction in the importance of banks as intermediaries in payment systems. As a result, their financial results may decrease. If the central bank's digital money is introduced, the natural consequence will be a change in the current banking business model. The social consequences should also be emphasized. It should be remembered that changes must also take place in financial education from the earliest age. And speaking of age, also in developing economies or developed societies, the society is getting older, and thus there is no willingness of older people to change or difficulties in educating new technologies. There are other social consequences that central banks have to consider before introducing CBDC into circulation.

Crypto Industry News: Former US presidential candidate Andrew Yang warns that the collapse of FTX will make officials want to create strict regulations for the cryptocurrency exchange market. In his opinion, this is not conducive to making the US a blockchain center. Speaking at the Texas Blockchain Summit in Austin on November 18, Yang acknowledged that the bankruptcy of FTX and Alameda Research will likely make it harder to pass common-sense regulations for the cryptocurrency market. "I've always been in the camp [that] some sensible regulation was a good thing. I think it would help the industry mature and become more mainstream," he said. "Because of [FTX's [collapse] and other issues, headlines and people who have suffered [as a result of FTX's bankruptcy], there will be an appetite for regulation that I think may miss the mark," he added. Yang admitted that the path to clarity on digital asset regulations is more difficult due to the politicization of the US two-party system. Therefore, the collapse of FTX will only embolden the biggest opponents of cryptocurrencies to try to destroy this industry. The politician admitted that he is working with the Bipartisan Policy Center, a think tank based in Washington, to educate congressmen on blockchain technology. Technical Market Outlook: The Ethereum market has broken out from the narrow range located between the levels of $1,219 - $1,281 and is only $36 from the sell-off lows. The intraday technical support is seen at $1,073 as well, no other support was made. The intraday technical resistance is located at $1,191 and $1,1219. The market has hit the extremely oversold conditions on the H4 time frame chart again, however, the bulls are still in control of the market and keep making pressure to test the sell-off low at $1.073. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues. Weekly Pivot Points: WR3 - $1,198 WR2 - $1,151 WR1 - $1,143 Weekly Pivot - $1,125 WS1 - $1,110 WS2 - $1,092 WS3 - $1,059 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2022-11-22 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/301795

Bitcoin (BTC) After the first half of November this year, Due to the panic sale caused by the collapse of FTX, the third largest cryptocurrency exchange in the world, Bitcoin has stabilized in the last few days in the range between $16,000 and $17,000. However, there are many indications that this is only a form of correction, after which the quotations of the oldest virtual currencies could return downward. One must remember that the BTC exchange rate has been in a downward trend for over a year, and this trend has stayed the same at any time. Therefore, from a purely technical point of view, there is no reason to forecast a more significant rebound. In addition, it is also worth noting that the last fall was highly dynamic, which may indicate that it was an impulsive move. At the same time, the rebound observed for several days is exceptionally calm, which suggests that it is only a form of another correction. Given all this, the bankruptcy of FTX has already been officially announced. As a result, its further negative impact on the cryptocurrency market may be limited; the scale of bankruptcies of subsequent companies associated with this exchange will be of crucial importance. There is already talk that the BlockFi cryptocurrency lending platform is preparing for potential bankruptcy after the collapse of FTX, and there may even be over 150 similar companies. So it is far too early to open the champagne and announce another bull market. In practice, there is still a high probability of further sales of BTC and the vast majority of cryptocurrency projects. According to the popular opinion that "after every storm, the sun comes out", and just like in previous years, when after each of the previous bubble bursts, the cryptocurrency market returned to the path of growth, breaking new ATH, one can expect that this time it will be similar. However, we'll have to wait a little longer for that. Several factors may account for this: First, every topic, including every problem, becomes commonplace, and the financial markets pass over it daily. This was the case with the collapse of Mt.Gox in 2014 (the largest cryptocurrency exchange in the world at that time) or QuadrigaCX in 2019 (the largest cryptocurrency exchange in Canada, about which Netflix even made a documentary). Second, the Federal Reserve is nearing the end of its monetary policy tightening cycle. While Fed interest rates are likely to remain high for most or even all of 2023, in 2024, the Fed is likely to embark on an easing cycle that, like in 2020, could contribute to the growth rally on risky assets such as stocks or cryptocurrencies. Ethereum (ETH) Ethereum's quotations fell between November 4 and 9 by over 36%, and then, driven by a highly optimistic report on CPI inflation in the US, they rebounded by almost 26%, thus leading to a re-test of the previously defeated support. However, this increase lasted only one day, from November 11 this year. The ETH rate is falling again. If this trend continues - and there are many indications that it does - the price of this cryptocurrency could fall to around USD 1,000 in the near future. Only there is another valuable support in the vicinity of which a more significant demand response could appear. Bitcoin Cash (BCH) Bitcoin Cash fell by nearly 31% between November 5 and November 9, falling to the lowest level since December 2018. Similarly to BTC and ETH, in reaction to the US CPI inflation report published on November 10, it went up by over 22%. It is noteworthy that this rally led to a re-test of the previously broken support (now resistance) of $106 and measured a 50% Fibonacci correction from the earlier downward impulse, where the BCH rate has been holding until now. However, considering the supply reactions that have appeared in the area of ​​the currently tested resistance, it seems highly likely that this zone will be rejected soon, which in turn could initiate another downward impulse towards the recent lows or even lower. Litecoin (LTC) Litecoin's quotations collapsed between November 7 and 9 this year by more than 35%. This sell-off stopped only in ​​technical support, around USD 50, where apparent demand pressure appeared on November 10. As a result of subsequent increases, the LTC exchange rate returned to the area of ​​previously defeated support (now resistance) around USD 64.50, where supply pressure reappeared last Sunday. If this resistance is rejected, the price of this cryptocurrency could fall back to around USD 50 or even fall to USD 43. Polygon (MATIC) After bouncing off the $1.30 technical resistance, the Polygon (MATIC) cryptocurrency fell more than 41% between November 5 and November 9. Although on November 10, the cryptocurrency made up for it. While the majority of these losses increased by over 52%, today, it is again listed at the levels from November 9. It is noteworthy that the MATIC exchange rate slipped below the local uptrend line last Sunday, which could drive further sell-off towards USD 0.70, USD 0.61 or USD 0.45. XRP XRP fell between November 5 and November 9 by more than 38%. This sell-off led to the breaking of two horizontal support levels at USD 0.4450 and USD 0.3950, respectively, and stopped only at the next significant level, around USD 0.32, where an apparent demand reaction appeared on November 10. Since then, the XRP price has alternately fallen and increased, staying at USD 0.32 to USD 0.3950. Therefore, taking into account its rebound from the upper limit of this range, observed last Sunday, we could expect another drop towards USD 0.32 in the coming days or possibly even to USD 0.30, where the next support level is located. Binance Coin (BNB) Looking at the Binance Coin quotes, we will notice that the price of this cryptocurrency has fallen by almost 36% since November 8. Such a significant depreciation meant that we are currently witnessing an attempt to break the technical support of USD 260. If the BNB rate permanently drops below this level, we could expect it to depreciate towards USD 244 or even USD 214 soon.

Crypto Industry News: United States Commodity Futures Trading Commission (CFTC) Commissioner Summer Mersinger has suggested that it is time to take action on cryptocurrency regulation. She voiced her opinion on November 18, speaking at the Texas Blockchain Summit: "We're clearly at a point where we need to stop, we need to gather the facts, we need to understand what's going on [...] to move regulation forward. Action is needed now"- she said. She says the CTFC will work with the Securities and Exchange Commission in this process. But what would these regulations look like? One of the proposals would be to introduce a "proof of reserves". "We expect that from our regulated entities. We don't ask for it every day, but we can [request it]. And I think that's fair," Mersinger said. "Maybe control is decentralized but you take customer funds and put them in some central location that they need to know about and be checked by regulators" - she added. In the meantime, however, "until a decision is made at the federal level, the states are the first line of defense." "Sometimes in Washington we forget that the states were the first actors and the first regulators here and that they play an important role. I think a lot of times the states are left out of the [federal regulation] talks, and that's unfortunate [a phenomenon]," - she said. Technical Market Outlook: The Ethereum market has broken out from the narrow range located between the levels of $1,219 - $1,281 and is testing the the sell-off low seen at $1,073 (at the time of writing the article). The bearish pressure is still strong, so in a case of extension to the downside the next target is seen at $999. The intraday technical resistance is located at $1,191 and $1,1219. The market has hit the extremely oversold conditions on the H4 time frame chart again, however, the bears are still in control of the market and keep making pressure. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues. Weekly Pivot Points: WR3 - $1,198 WR2 - $1,151 WR1 - $1,143 Weekly Pivot - $1,125 WS1 - $1,110 WS2 - $1,092 WS3 - $1,059 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-11-23 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302010

Outlook Of Crypto Market Bitcoin went below 15,500 at the end of the day on Monday, rewriting two-year lows, and slightly retreated from those extremes by the start of trading in Europe, trading around 15,700 (-2% in 24 hours). Ethereum is updating lows from July at the time of writing, falling to $1072 (+3.5% in 24 hours). The crypto market capitalisation is down 1.75% overnight to $782bn, its lowest since January 2021. Although this indicator is very tentative and synthetic, we have seen a tug-of-war around $1 trillion for a long time. For a while, the market lingered near levels just above 830 - the high at the peak in January 2018. Now another belief that the previous peak of the last cycle would work as insurmountable support has been broken. The crypto market capitalisation has gone sharply down, failing to develop an offensive above its 200-week average by early November. The 200-week (4-year) period is consistent with the notion of cycles in crypto, and the situation now looks like the exit of leveraged speculators who thought crypto had bottomed out in June-October. Although we believe that squeezing the weak hands out of the sector is almost complete, we are now seeing nothing more than speculators deleveraging, which is generally healing the market. Technical analysis suggests capitalisation could fall as much as 400-450bn, nullifying the rally, before returning to growth. However, this technical picture looks excessively pessimistic, and the stingiest speculators might not wait for that entry point, as is often the case in the markets.   Possible problems at another major company According to CoinShares, investments in cryptocurrencies rose by $44m last week against inflows of $42m the week before. Bitcoin investments rose by $14m, while Ethereum fell by $1m. Investments in funds that allow shorts on bitcoin increased by $18m, while shorts on ETH increased by a record $14m. Inflows to "short" products were 75% of the total, suggesting a deeply negative sentiment amid the FTX collapse, CoinShares noted. According to IntoTheBlock, the share of unprofitable bitcoin addresses exceeded 51% (24.56 million addresses out of 47.85 million BTC holders). The last time a similar situation was observed was after the market crash in March 2020. Rumours have emerged in the cryptocurrency community about possible problems at another major company. The failure of digital asset manager Grayscale Investments to disclose reserves and the suspension of crypto lending operations by OTC platform Genesis Trading have raised concerns about the entire Digital Currency Group (DCG) sustainability. According to experts, the collapse of Grayscale would be more severe than the collapse of Three Arrows Capital.

After the FTX crisis, we could potentially see the next crisis incoming: DCG's Grayscale Bitcoin Trust might be under attack, due to liquidity problems from the sister company. Could this be the end for GBTC? 00:00 Intro 00:19 Preview 00:41 FTX bankruptcy 03:13 Bitcoin 08:14 Ethereum 09:43 Ripple 11:40 Solana 14:23 Subscribe & Good bye #crypto #cryptonews #cryptotrading #swissquote ___  Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH

Crypto Industry News: The hacker who attacked the bankrupt cryptocurrency exchange FTX began to transfer his Ethereum resources to a new wallet address. The attacker was the 27th largest ETH holder after the hack, but fell 10 places after the weekend's ETH dump on exchanges. The FTX hacker siphoned nearly $447 million from numerous FTX global and FTX USA exchange wallets just hours after the crypto exchange filed for bankruptcy on November 11. Most of the funds stolen were ETH tokens, making the hacker the 27th largest ETH whale. Two hackers were active at the time of the FTX hack, one in a black hat who managed to steal $447 million and one in a white hat who managed to transfer $186 million worth of FTX assets to a cold wallet. However, when the Bahaman Securities and Exchange Commission released a notice suggesting they were trying to move assets out of FTX, it raised a lot of suspicion, with many claiming that the securities regulator was actually the hacker behind the hack. Technical Market Outlook: The Ethereum market has made a Double Bottom price pattern on the H4 time frame chart and is bouncing from the sell-off low seen at $1,073. The bearish pressure is still strong, so in a case of extension to the downside the next target is seen at $999. The intraday technical resistance is located at $1,191 and $1,1219. The momentum is moving away from the extremely oversold conditions on the H4 time frame chart, so the odds for a strong bounce are high. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues. Weekly Pivot Points: WR3 - $1,198 WR2 - $1,151 WR1 - $1,143 Weekly Pivot - $1,125 WS1 - $1,110 WS2 - $1,092 WS3 - $1,059 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2022-11-24 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302174

Bitcoin and Ethereum picture Bitcoin is adding 5.1% over the past 24 hours to $16.5K on Tuesday after updating two-year lows below $15,500. The rate rose in two powerful bursts, one at the start of trading in the US and the other at the beginning of trading in Asia. It's unlikely we will see a start of a promising move on high volumes. So far, as a reflex, investors are trying to follow the stock indices, where risk appetite is increasing. Ethereum is adding 6.7% in 24 hours as traders are encouraged by its ability to defend the $1,000 level. Top altcoins are adding from 4.6% (Cardano) to 30% (Litecoin) over the last 24h. The latter is rising on signals that the SEC may recognise the coin as a digital commodity, like Bitcoin, rather than an asset like almost all other cryptocurrencies. Despite the rebound, Bitcoin is still below the level it started the week, so we characterise the current move as a rebound rather than the beginning of a recovery. Bitcoin first needs to consolidate above $17K as a first reversal signal. More chances are that we are still seeing another mini rally in the bear market. The crypto lending platform's Binance will not invest in Genesis Trading amid the crypto lending platform's search for $1bn in emergency funding, The Wall Street Journal reported. Without an additional cash infusion, Genesis Trading is potentially facing bankruptcy. According to Glassnode, miners this year have sold the most significant volume of bitcoins since 2016. Capriole fund founder Charles Edwards noted that miner sales had soared 400% in the past three weeks. According to him, if BTC does not rise soon, we will see a massive bankruptcy of mining companies. The crypto market has seen a noticeable drop in liquidity following the collapse of FTX, Kaiko noted. Trading volumes on crypto exchanges more than halved to $100bn every week. The US House of Representatives Committee on Agriculture will hold a hearing on December 1 on the crypto-exchange FTX and measures to mitigate the impact of its collapse. The hearing is expected to feature remedial proposals from the head of the Commodity Futures Trading Commission (CFTC), Rostin Behnam.

Crypto Industry News: The race to bring the world's first CBDC to full scale is in full swing. One of the leading countries in this is India. Others are, of course, China, or recently Australia. In the case of India, however, we are talking about a potential addition to the financial system with a digital rupee, not a full replacement of its traditional, physical form. Some time ago we received information that the said country is keenly interested in introducing the digital currency of its country. After extensively testing the new currency system of the Central Bank of India, preparations are now underway to pilot a digital rupee program for retail customers. According to media reports, the CBDC is already at the final stage of preparations for its introduction. Among the main stakeholders are, for example, State Bank of India, Bank of Baroda, Union Bank of India or HDFC and IDFC Banks. Currently, there are discussions about whether all commercial banks will eventually be covered by the new system. Technical Market Outlook: The Ethereum market has made a Double Bottom price pattern on the H4 time frame chart and is bouncing from the sell-off low seen at $1,073. The bulls has managed to extend the bounce towards the level of $1,198 and are still moving higher. Nevertheless, the bearish pressure is still strong, so in a case of extension to the downside the next target is seen at $999. The intraday technical resistance is located at $1,213 and $1,1219. The momentum is moving away from the extremely oversold conditions on the H4 time frame chart, so the odds for a strong bounce are high. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues. Weekly Pivot Points: WR3 - $1,198 WR2 - $1,151 WR1 - $1,143 Weekly Pivot - $1,125 WS1 - $1,110 WS2 - $1,092 WS3 - $1,059 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 09:00 2022-11-25 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302349

Chart of the Day  US stocks notched gains for a second day after the Federal Reserve’s latest meeting minutes revealed that most officials support the moderation of the pace of rate hikes soon. Some analysts highlight a dovish undertone, as the minutes recognize tightened international financial conditions and softened consumer demand. Others believe that the minutes didn’t convey anything new, and markets may be overreacting to the perceived shift in tones.  The broader crypto market rose upon the release of FOMC minutes. As of the time of writing, BTC has established a stronger footing above the $16.5k handle, after posting a 1% increase in the last 24 hours. ETH outpaces BTC with a 3.6% jump in the same period, and is now changing hands above the $1,200 level. Mid-to-large-cap altcoins saw mixed performances, with SOL leading the pack on a double-digit percentage in a similar timeframe. Top gainer LTC trimmed its recent gains, but still managed to capture a 32.5% gain in the past week, eight months ahead of the network’s third mining rewards halving.  Amid the FTX unraveling over the past weeks, the aggregate market cap of stablecoins briefly overtook that of Ethereum. The top 4 stablecoins in the market, namely USDT, USDC, BUSD, and DAI took up over $138 billion in total, during a period marked by high unrealized loss and strong stablecoin purchasing power.    Talk of the Town  DeFi management platform Llama and risk management outfit Gauntlet have submitted a governance proposal on Aave to cover a $1.6 million bad debt brought on by a publicized short attempt on Tuesday. The short attempt at CRV tokens was linked to the Mango Markets exploiter Avraham Eisenberg, who borrowed 92 million CRV from the DeFi lending platform and proceeded to sell them on a centralized exchange, causing an initial decline in the price of CRV. However, the short seller suffered a squeeze after CRV rallied above $0.60, and was eventually liquidated, leaving a $1.6 million hole in the DeFi protocol. The proposal calls for the use of Gauntlet’s insolvency fund and the Aave Treasury to cover the bad debt, as the debt coverage process could help to optimize the Aave DAO treasury. The community will discuss the proposal in the coming days, and more detail on how the process unfolds will be released if the DAO favors the proposal. 

Crypto Industry News: The company behind MetaMask, namely Consensys, has updated its privacy policy. As part of the new provisions, their popular wallet will collect the aforementioned IP addresses and addresses of their customers' ETH wallets from today when they perform transactions. Specifically, the update affects users who use Infura as a "Remote Procedure Call" (RPC) provider in MetaMask. Infura is an affiliate of Consensys and is the default RPC provider on all MetaMask wallets. What is very important - according to the published information, MetaMask users have the option to change the RPC from Infury to another provider - then their data will not be collected by Consensys. However, they will still be subject to any information collection policies of the new RPC provider of their choice. According to a statement from Consensys: "When you use Infury as your default RPC provider in MetaMask, Infura will collect your IP address and Ethereum wallet address when sending transactions. However, if you use your own Ethereum node or a third-party RPC provider with MetaMask, then neither Infura nor MetaMask will collect your IP address or Ethereum wallet addresses." The news about the new MetaMask privacy policy quickly spread around the web and caused a very just, collective indignation of Internet users. Technical Market Outlook: The Ethereum bulls has managed to break the trend line resistance, extend the bounce towards the level of $1,215 and are still moving higher. The intraday technical resistance is located at $1,231 and $1,1288. The momentum is moving away from the extremely oversold conditions on the H4 time frame chart, so the odds for a strong bounce continuation are high. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend. Weekly Pivot Points: WR3 - $1,198 WR2 - $1,151 WR1 - $1,143 Weekly Pivot - $1,125 WS1 - $1,110 WS2 - $1,092 WS3 - $1,059 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-11-26 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302530

ETH/USD retreated a little in the short term after its strong rally. The retreat was natural and now it has developed a bullish pattern. It was trading at 1,185 at the time of writing. It has increased by 2.33% from today's low of 1,170 to 1,198 today's high. In the last 24 hours, ETH/USD is down by 1.23% and by 1.27% in the last 7 days. Bitcoin accumulates more bullish energy. An upside movement could help Ethereum to extend its growth. ETH/USD New Flag Formation!     From the technical point of view, ETH/USD retested the major broken downtrend line and now it has turned to the upside. In the short term, it has developed a flag pattern. 1,170 stands as a downside obstacle. The flag's resistance and the 1,215 represent upside obstacles. ETH/USD Prediction! ETH/USD could resume its growth if it makes a valid breakout through the flag's resistance. Still, a larger upside movement could be activated only by a new higher high, after it makes a valid breakout through the 1,215. Relevance up to 18:00 2022-11-26 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302622

ETH/USD retreated a little in the short term after its strong rally. The retreat was natural and now it has developed a bullish pattern. It was trading at 1,185 at the time of writing. It has increased by 2.33% from today's low of 1,170 to 1,198 today's high. In the last 24 hours, ETH/USD is down by 1.23% and by 1.27% in the last 7 days. Bitcoin accumulates more bullish energy. An upside movement could help Ethereum to extend its growth. ETH/USD New Flag Formation! From the technical point of view, ETH/USD retested the major broken downtrend line and now it has turned to the upside. In the short term, it has developed a flag pattern. 1,170 stands as a downside obstacle. The flag's resistance and the 1,215 represent upside obstacles. ETH/USD Prediction! ETH/USD could resume its growth if it makes a valid breakout through the flag's resistance. Still, a larger upside movement could be activated only by a new higher high, after it makes a valid breakout through the 1,215. Relevance up to 18:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302622

Crypto Industry News: "Metaverse" is one of the main contenders for the 2022 Oxford Word of the Year, the Oxford University Press (OUP) announced, in a sign that this particular word is becoming concrete in the public mind. Oxford University Press, the publisher of the Oxford English Dictionary, announced three final words or terms for 2022 on Tuesday: Metaverse, #ISstandWith and Goblin Mode. "In the word 'Metaverse', we see a conceptual future brought into the vernacular in 2022," OUP wrote. Metaverse occupied a prominent place in public discourse this year. The renaming of social media giant Facebook to Meta, and CEO Mark Zuckerberg's subsequent doubling of the company's focus on virtual reality, even as stocks crashed and the company laid off thousands, kept the metaverse in the first place for both investors and the general public. Meta also spearheaded the creation of the Metaverse Standards Forum, which includes tech giants Microsoft, Sony, Intel, and nearly 200 others as core members to "support interoperability standards for the open metaverse." This means that the metaverse has been in the announcements of virtually every tech company in the last 12 months. Notably absent from the list of Forum members is Apple, which seems to be hiring to build its own meta world to compete with Meta. Technical Market Outlook: The ETH/USD bounce had been capped at the level of $1,231 and the market reversed back inside the range. The intraday technical resistance is located at $1,231 and $1,1288. The momentum is weak and negative, so the move down might be continued towards the level of $1,104 or $1.073. The intraday technical support located at the level of $1,174 had been broken as well. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend. Weekly Pivot Points: WR3 - $1,253 WR2 - $1,213 WR1 - $1,190 Weekly Pivot - $1,173 WS1 - $1,150 WS2 - $1,133 WS3 - $1,093 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 10:00 2022-11-29 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302753

Ethereum price slips over 1.5% in ASIA PAC trading on Monday after riots and protests across China. ETH gets global selling pressure as financial markets are dipping as well. Expect to see another leg lower in search of support together with all other asset classes. Ethereum (ETH) price saw a lackluster weekend regarding its price action and performance. On Saturday, some hopes were there that the pivotal level at $1,243 could get a test, but bulls never made it up that far. Instead, prices slipped lower on Sunday, and this morning, on the back of widespread social unrest in China that is hardly ever seen, overall markets are choosing to go with a risk-off tone for today. Read next: Farmers In China Suffer From Covid Restrictions| FXMAG.COM ETH slips below an important line in the sand Ethereum price is playing a dangerous game this morning as it came under pressure from a global risk-off tone triggered by pictures and videos on social media from China. Several cities have reported social unrest and called Xi to step down as the lockdown measures are starting to hit people’s morale. As this is very rare in China, this form of rebellion could start to weigh on several performance numbers from producers that are very dependent on local production in China. Apple has already come out this morning with a statement that it is falling behind on its delivery promises for its most recent iPhone. ETH currently flirts with the red descending trend line in the sand, refraining from ETH to make lows again toward $1,074. Unfortunately, if markets do not change sentiment throughout the day, the risk is that it will dip lower toward that mentioned level. The trade becomes a bearish triangle again, with $1,074 as the base and set to break lower to $1,014, which would carry a 15% loss. ETH/USD daily chart Although sentiment at the beginning of this week looks bearish, some social unrest in China may not immediately trigger a sell-off in the US later today or in the coming days. The same goes for the situation in Ukraine, which is showing fatigue and does not cap equities from rallying anymore. Expect later this week to see Ethereum price hit $1,243 and get ready for a pop higher toward $1,337 at the 55-day Simple Moving Average.

Written By: Marcus Wang and the Crypto Insights Team Edited by: Charmyn Ho Macro and Overall Risk Sentiment   The FOMC minutes released last week may have offered some hope for the eventual slowing down of the interest rate hike. The dollar is heading towards its steepest monthly decline since 2009, and the benchmark 10-year Treasury yield is down more than 30 basis points in November. Optimism is resurfacing across a range of assets as investors begin to pivot towards embracing more risks. Moving forward, insights into the Federal Reserve’s upcoming rate hike path will be tipped this week when Fed Chair Jerome Powell speaks at the Brookings Institution coming Wednesday.    The crypto market saw a rare, quiet holiday weekend. Over the carnage, titans of the industry rose as they came together to set up a rescue plan to aid troubled projects. However, there is still too much uncertainty in the market for the collective effort to be a catalyst that turns things around. Major cryptocurrencies made attempts to stabilize in their respective ranges. BTC closed the week with a marginal increase of less than 1%, while ETH jumped 4.5% week-on-week.   BTCUSDT Perpetual     BTC price has shown early signs of stabilizing in the past week as selling pressures moderate. BTC rebounded to $16k after re-testing $15.5k, facing immediate resistance at the 20-day EMA of $17k. The rebound was likely due to a technical adjustment after RSI reached the oversold zone, while trend reversal is not on the table as the unraveling FTX saga continues to strain investors’ confidence. From a technical perspective, Guppy Multiple Moving Average (GMMA), a technical indicator that identifies changing trends and breakouts, has diverged further in the past week, suggesting an imminent break is not on the horizon.   Regarding Bitcoin’s bottom price, the maximum drawdown at 84.5% from previous bear cycles in 2013 and 2017 points to a $10.7k bottom. On the other hand, the fixed range volume profile saw strong support at $16.5k, where the price range between $16.5k and $21.5k has been traded with the highest volume since 2020. Nonetheless, if BTC, unfortunately, broke below $16.5 and took hold, the next support level at $13.5k would be relatively weak due to low historical trading volume, pointing to a possibly lower bottom price.    The 7-day moving average of the BTC funding rate has turned slightly positive in a few exchanges, indicating a relieving risk-off sentiment. However, the spread between BTC spot and futures remained deeply negative, which reveals a dim outlook for investors in the near term.   Check Out the Latest Prices, Charts, and Data for BTCUSDT!   ETHUSDT Perpetual     As BTC clings to near-term $15.5k support, Ether has seemingly found support at the level of $1,080. Ether seems to stay above a trendline connecting price tops after FTX’s collapse, flagging an early sign of bullish price action. Ether has hovered around $1,200 in the past few days, facing immediate resistance at the 20-day EMA of $1,230 and a 50-day EMA of $1,320. Furthermore, the Parabolic SAR indicator on a 4-hour chart, an indicator used to determine trend directions and potential reversals in price, once turned bullish as SAR dots stayed below the current price level. However, as of the time of writing, the bullish signal freshly flipped to a bearish one, dashing hopes of a turnaround.    On another note, the open interests of Ether options set to expire by the end of November have been mostly closed, leaving significant volatility induced by option activity unlikely in the coming week. Meanwhile, Ether’s open interests in call options that expire by the end of December are still five times of put options. However, the strike prices of December’s call options are way higher than the current price level, unlikely to add up to the price volatility as well.   Check Out the Latest Prices, Charts, and Data for ETHUSDT!   Altcoin Outperformer   While major cryptocurrencies stabilized over the past week, several altcoins outperformed the broader market with staggering double-digit gains. Celo Network’s native token, CELO, is up 54.2% week-on-week, with a major technical-driven pump on Sunday. The jump came a few days after the launch of Curve Finance on the Celo network as well as a partnership announcement between Consensys and Celo to improve multichain support and scalability. Network fundamentals are improving, with the number of active developers doubling in the past month. The total value locked on the protocol, too, has surged by nearly 50% to $121 million since a week ago.     CELOUSDT Perpetual     On the 1-day chart, CELO recently broke out from weeks-long resistance near the 50-day EMA and is now testing the next resistance level near the 100-day EMA. The trading volume has reached the level last seen in May, suggesting the outperformance is well supported by speculative capital. Meanwhile, RSI on the daily chart is on the high end but remains within the neural territory.    Check Out the Latest Prices, Charts, and Data for CELOUSDT!   Market Movers (Week-on-Week) CELOUSDT (+54.2%) CRVUSDT (+25.6%) DOGEUSDT (+22.5%) CHZUSDT (-19.8%) DYDXUSDT (-12.7%) ALGOUSDT (-10.9%) New Derivatives Listings — What’s New on Bybit? Trade with up to 25x leverage on our new trading pairs: TWTUSDT SWEATUSDT Source: Bybit Blog | BTC and ETH Prices Cling to Key Support Levels as Negative Sentiment Persists

Crypto Industry News: In June, the President of the European Central Bank (ECB), Christine Lagarde, said that MiCA II, or additional European regulations of the cryptocurrency market, "should regulate activities involving staking and lending of cryptocurrencies." Now she's back on the subject. Christine Lagarde wants MiCA II Christine Lagarde once again called the regulation and supervision of cryptocurrencies an "absolute necessity". In her opinion, this process - i.e. market regulation - should accelerate especially after the collapse of the FTX cryptocurrency exchange. During a November 28 hearing before the European Parliament's Committee on Economic and Monetary Affairs, Lagarde cited Facebook's Libra as an example of the ECB's commitment, which "helped to stop some players" from entering the cryptocurrency market. However, she said that the situation with FTX was more about "stability and reliability of the stock exchange. He adds that the ECB needs to strengthen its role as a regulator to respond to people's growing interest in digital assets. "At least Europe [on regulation] is ahead of the rest," the ECB president said. "But as I said before, it is one step in the right direction. It's very much needed," she added. The Cryptocurrency Markets Act (MiCA) is undergoing legal and linguistic verification. The economic committee of the European Parliament approved its framework and assumptions in October - this happened after trilateral negotiations between the EU Council, the European Commission and the European Parliament. Many expect the new EU cryptocurrency policy to take effect from 2024. Technical Market Outlook: Despite the fact, that the intraday technical support located at the level of $1,174 had been broken, Ethereum has reversed all the yesterday's losses and is trading back close the recent local high around $1,231. The intraday technical resistance is located at $1,231 and $1,1288. The momentum is back to the positive territory, so the move up is backed up by bulls. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend. Weekly Pivot Points: WR3 - $1,253 WR2 - $1,213 WR1 - $1,190 Weekly Pivot - $1,173 WS1 - $1,150 WS2 - $1,133 WS3 - $1,093 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-11-30 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302941

Bitcoin suffers from China's realties Bitcoin declined on Monday along with stock indices, testing six-day lows near $16K, following a decline in demand for risky assets due to unrest in China. Near this round level, the first cryptocurrency saw a demand, and in early trading on Tuesday, cryptocurrencies rose more actively than traditional markets, bringing the price of Bitcoin back to $16.5K. According to CoinMarketCap, total capitalisation rose 2.2% overnight to $835bn, while the top coins add between 2% (Cardano) and 9% (Dogecoin), and Ethereum is again hovering around $1200. Read next: Meta fined by Irish regulators amidst privacy concerns| FXMAG.COM The cryptocurrency market is showing signs of buying on the downturn and has been performing better than stocks for the past 24 hours, bolstering buyers' hopes. Major players continue to go bust, adding the BlockFi platform to the list, and Hong Kong exchange AAX is having problems. The market seems to be taking this news as part of the sector's recovery process, with weaker projects leaving. According to Glassnode, traders with less than 1 Bitcoin have bought over 96K BTC, since FTX collapse  Santiment notes that wallets with large balances (100-10,000 BTC), after three weeks of net sales of 1.36% of total volume, have accumulated 0.24% in the last five days. It looks like the whales may be about to stop selling. Meanwhile, Glassnode claims smaller players are increasingly buying bitcoin on the dips. Investors with less than 1 BTC balance have added 96,200 BTC to their total holdings since the FTX crash. According to CoinShares, investments in crypto funds fell by $23 million last week, with the outflow of funds the highest in 11 weeks. Bitcoin investments decreased by $10m, and Ethereum by $6m. Investments in funds allowing shorts on bitcoin increased by $9m. Negative market sentiment persists after the FTX collapse, CoinShares noted. Regulators could take years to catch up and successfully control the cryptocurrency industry, so the industry needs to learn how to do it independently, says billionaire Bill Eckman.

The metaverse has transitioned from fiction to reality virtually right before our eyes. Metaverse Index stands poised to capitalize on the excitement surrounding this growing trend. By providing traders with exposure to several tokens rather than just one, Metaverse Index has forged a novel way to participate in the expanding metaverse and profit from the rise in virtual economies as a whole. In this article, we dive deep into MVI (Metaverse Index) to explain what it is, how it works and where its average price is expected to go today, tomorrow and a decade from now. What Is Metaverse Index?   Metaverse Index is a cryptocurrency index product consisting of a basket of tokens designed to track social, economic, business, entertainment and sporting trends as they shift toward virtual environments.   The metaverse is a boundless interactive cosmos that’s designed to provide opportunities for both its users and the virtual economy to proliferate and flourish. Investing in the metaverse can be done in any number of ways, the most common one being the purchase of The Sandbox, Enjin Coin and other metaverse-related tokens. However, much as savvy investors choose ETFs and index funds that track the S&P and other stock markets for relatively stable long-term gains, investors can take the same “basket” approach with the metaverse and crypto markets by investing in Metaverse Index, or MVI. Introduced by Index Coop in 2021, Metaverse Index is a liquidity-adjusted, root capitalization–weighted index, developed to capture and capitalize on the increasing trend shift toward virtual reality via its MVI token. This ERC-20 token represents the index, which is a collection of various Ethereum-based tokens chosen according to a strict set of metrics. In other words, Metaverse Index aims to tokenize the virtual worlds of the metaverse by providing a single investible token, MVI. Representing 16 tokens tied to the metaverse in one form or another, MVI can be viewed as a representation of the strengthening or weakening of virtual reality and crypto trends. Rather than forcing investors to place all of their hopes on the performance of a single token, Metaverse Index allows them to spread their risk across several tokens and potentially profit from their cumulative overall performance. As such, MVI and other metaverse index funds, such as DeFi Pulse Index, can be viewed as viable entry points for metaverse newcomers. What Is an Index Fund? Metaverse Index is one of many products developed by Index Coop, a DAO specializing in the creation of cryptocurrency index tokens. Crypto index funds (tokens), such as Metaverse Index, provide traders with broader exposure to crypto markets, the metaverse and specialized industry segments, allowing them to engage in trading in a simpler, more streamlined fashion. Index Coop offers a number of different index fund tokens. Tokens for each index are selected according to specific criteria. The Metaverse Index fund captures 16 metaverse-related tokens, including Enjin Coin (ENJ), Illuvium (ILV) and Decentraland (LAND), among others. By grouping these tokens into one single token in the form of MVI, Metaverse Index aims to offset the volatility inherent to investments in individual tokens. In addition to greatly minimizing volatility, an index fund also greatly reduces gas fees, commissions and trading fees for stocks and traditional investments. Rather than paying fees for each individual token, traders can maximize profits by paying much less in fees for the same amount of exposure. This is the beauty of index funds. By allowing traders to invest in baskets of tokens, stocks or other securities, they minimize the risks and volatility associated with trading individual assets, while simultaneously creating savings in the form of fewer gas or trading fees. Considering the significant short- and long-term growth forecast for the crypto/DeFi/metaverse space, it’s a win-win, depending on the tokens selected for the fund. Index funds take market capitalization, liquidity history, security features and more into consideration when deciding which tokens they’ll include. Origin of Metaverse Index Metaverse Index was launched in 2021 by Index Coop, short for Index Cooperative, as a means for traders and investors alike to profit from the rise in metaverse popularity as it continues to permeate all aspects of society and create new cultural norms. With the financial backing of Sequoia Capital, White Star Capital, Blockchain Ventures and other venture capitalists, Metaverse Index was collectively launched by Index Coop’s founders, without any third-party involvement. How Does Metaverse Index Work? Since the Metaverse Index token is an index fund product, it has no tokenomics or issuance/supply schedule, as typical tokens on the crypto market do. The token represents not one, but an assortment of 16 tokens with varied allocation. Let’s take a look at how it works. Constituent Weighting The folks at Index Coop use constituent weighting when selecting which tokens to include in the Metaverse Index fund. This means each individual token (constituent) in the fund is weighted according to its market capitalization. The weighted aggregation of all constituent prices is used to help calculate MVI’s value. Each constituent must meet certain requirements regarding market exposure, market capitalization and liquidity in order to be selected for the index. The basic criteria include: The token must exist on the Ethereum blockchain, and have consistently reasonable DEX liquidity on Ethereum as well. Total market capitalization must exceed $50 million. Protocol must belong to the NFT, VR, Entertainment or Music category on CoinGecko. Protocol must have a minimum of three months of operational, price and liquidity history. Token must undergo and pass an independent security audit. Index Calculation Metaverse Index uses a combination of liquidity weighting and root market cap to determine the final index weights. For all of the math lovers out there, here is the formula: TW = (75% × RMCW) + (25% × LW) TW = token weight LW = liquidity weighted allocation RMCW = square root of market capitalization–weighted allocation Index Maintenance Metaverse Index is maintained every three months in two separate phases, the determination phase and the rebalancing phase. During the first phase (determination phase), the protocol must be listed as belonging to specific token categories on CoinGecko. Once the outcome of the determination stage is published, and the token has been confirmed as belonging to an appropriate category, the index will enter the rebalancing phase where the index composition will change to reflect the new weights. The change in weighting as a result of this maintenance is reflected during the following quarter. Which Tokens Are Included in the Metaverse Index? The investment universe of Metaverse Index includes a variety of tokens within CoinGecko’s NFTs, entertainment, music, augmented reality and virtual reality categories, each one with at least 90 days of trading history and a market cap of $50 million or more. The following is the complete list of tokens that meet these requirements and are included in the Metaverse Index. Audius Audius is a music streaming blockchain protocol designed to bridge the gap between content creators and their fans. Axie Infinity   Axie Infinity is a popular game leading the play-to-earn (P2E) revolution. The game’s governance token is AXS.   Decentraland Decentraland is the very first completely decentralized metaverse universe. MANA is the native currency used throughout the game. Decentral Games Decentral Games is a metaverse casino located within Decentraland that players can own and operate via the DG governance token. Enjin Enjin is an important piece to the Metaverse Index puzzle. Its utility token, ENJ, is responsible for driving Enjin’s NFT economy, and within Enjin’s ecosystem, businesses can use ENJ to develop and monetize gaming NFTs. Ethernity Chain The Ethernity Chain token (ERN) is used to farm rare, limited-edition trading cards and NFTs created by popular NFT artists on the community-oriented Ethernity Chain platform. Illuvium Illuvium is a well-known metaverse gaming system that’s based on the Ethereum blockchain. At the moment, Illuvium is working on what many expect to be the very first truly playable AAA metaverse game project — one that includes a 3D virtual reality setting, with over 100 Illuvials sprinkled throughout the virtual cosmos. NFTX The ERC-20 protocol known as NFTX is used for creating tokens backed by a variety of NFT collectibles, resulting in instant liquidity for an asset class with well-known liquidity issues. NFTX is the governance coin that allows new proposals to be voted on by token holders. Rally The Rally network is powered by the RLY Ethereum token, giving token holders the ability to collectively create cryptocurrencies known as social tokens, and launch them on the crypto market. With Rally, creators can unlock new revenue streams while giving fans access to merchandise, unreleased content and several other benefits. Rarible Rarible is a popular NFT marketplace included in the Metaverse Index. With Rarible, virtually anyone can buy, sell and mint one-of-a-kind digital goods like game items, artworks and collectibles. Using the RARI governance token, community members can participate in the governance of the Rarible marketplace and treasury. REVV REVV is an Ethereum-based token used to support P2E motorsport blockchain games, like F1 Delta Time (now closed), Formula E, MotoGP™ and other titles developed by Animoca Brands. The Sandbox As its name suggests, The Sandbox is a community-centric metaverse network where anyone can develop and monetize on-chain games using voxel NFT assets. The vibrant gaming economy of The Sandbox is a top performer in driving the average price of MVI and a major contributor to the gaming industry. Terra Virtua Kolect Virtua is an immersive platform where collectors can purchase and display digital collectibles in the virtual reality space known as the “Fancave.” The utility token for the platform is TVK, Terra Virtua Kolect, which collectors can use to participate in the thriving collectible economy, unlock extra features and earn additional rewards. WAXE WAXP is the utility token for the WAX protocol, an e-commerce blockchain built to facilitate NFT value transfer. Partnering with Atari and other major gaming studios, WAXE (the Wax Economic Token converted from WAXP) currently plays an integral role in the Metaverse Index, and has growth potential. Whale WHALE is a virtual social currency backed by some of the rarest NFTs and digital assets on the market. The basket of NFTs supporting the currency include rare digital assets from Avastars, Gods Unchained, Cryptovoxels and several other coveted digital art. Yield Guild Games Yield Guild Games is a DAO that uses the YGG governance and utility token, which can be staked for specific rewards and used to pay for transactions within the Yield Guild Games community. Buying MVI vs. Individual Tokens The metaverse is an open digital space designed to seamlessly integrate endless aspects of the real world, including entities such as identity, ownership and financial value. This open, shared digital space is made possible by advances in virtual reality and blockchain technologies. User-focused tokens play a key role in the metaverse’s operational and economic design. With tokens, anyone can own a slice of the metaverse, along with the value they unlock. However, even for seasoned crypto traders, investing in any single token can result in exposure to high levels of volatility. While volatility can drive up the average price of a token and create significant returns, it can also result in significant losses in no time at all. Much like a traditional mutual or index fund, Metaverse Index and the MVI token aim to minimize volatility while supplying stable returns. By representing a variety of hand-picked tokens rather than a single one, MVI turns the growing trend of virtual reality into a single token anyone can invest in. Advantages of MVI Tokens MVI tokens let crypto traders profit from developments in metaverse technology by investing in several various metaverse protocols, rather than focusing on a single token, asset or platform. This provides several key benefits for traders and investors alike. Risk Management Since holding MVI or another index token offsets the volatility associated with individual tokens, by its very nature Metaverse Index acts as a risk management tool. Cost Effectiveness Buying or selling individual tokens requires gas fees for each transaction. Buying or selling MVI, on the other hand, allows you to trade and profit from over a dozen different tokens and protocols while only paying a single gas fee, rather than several. Simplicity Metaverse Index makes capturing broad market trends simple. Explicitly based on the concept of the metaverse, MVI offers a simplified, straightforward approach to capturing trends without the need for constant research and portfolio rebalancing. Transparency There’s nothing worse than flying blind as a crypto trader, so when it comes to investing your hard-earned money, transparency is a must. Recognizing this need, Metaverse Index employs a transparent set of rules for evaluating tokens for inclusion and exclusion. MVI Tokenomics Since MVI is an index product, it lacks tokenomics and there’s no supply or issuance schedule. The token directly represents a mixture of 16 tokens individually allocated according to a specific formula for liquidity weighting and root market cap. Additionally, although MVI doesn’t follow an issuance or supply schedule, it has a maximum supply of 39,602 coins. Metaverse Index Price Prediction The current price of MVI is $18.59, marking a 2 percent increase in the past 24 hours. However, the price is down 0.5 percent over the past seven days and 34.9 percent over the past 30 days. These price swings are even more eye-opening when looking at longer time frames. For example, MVI is down 94.7 percent on the year. At this time last year, MVI was trading at $355.13. Nonetheless, the question remains: Where will the price of MVI go from here? Currently, the overall sentiment is bearish on the short-term prospects for MVI. In fact, WalletInvestor’s forecast rates the token as a poor investment for at least the next year. The trading volume for MVI, however, remains strong and healthy. When coupled with the undeniable growth of the metaverse trend, the argument can be made that MVI’s current slump is exactly that — a slump. In fact, DigitalCoinPrice and many other crypto forecasters have the price of MVI rising consistently over the coming years. According to their analysts, MVI is expected to reach a minimum price of $39.92 in 2023 and a maximum price of $47.13. By 2025, MVI is predicted to reach $82.03, and by 2031, MVI is predicted to hit $358.92.  If these figures are at least somewhat accurate, the trajectory of MVI appears obvious. While it will likely take several years before MVI once again reaches its peak price of $372.65, which it reached in November 2021, the outlook is promising and the price of MVI should climb consistently in the years to come. Where to Buy Metaverse Index Investing in Metaverse Index doesn’t take much work. You can purchase MVI directly through Index Coop, the DAO responsible for maintaining some of today’s top crypto indices. As a developer and manager of crypto index funds, Index Coop makes investing in crypto and digital assets easier and less costly than building a crypto portfolio on your own. As with other tokens, you can purchase MVI with Ether (ETH). It can also be purchased with DAI, USDC, stETH and WETH. If you do not have any of these, you’ll need to buy some from an exchange that accepts bank or debit card deposits, such as Bybit. Once you have the necessary amount of ETH, you can then connect to your digital crypto wallet and exchange it for MVI. That’s really all there is to it. Is MVI a Safe Investment? Based on present data and all of the information above, Metaverse Index (MVI) — and the greater market environment — have been trending downward over the past 12 months. According to several sources, however, MVI’s future outlook is positive, with steady gains expected over the next 10 years. That said, given the drastic falloff from its all-time high of $372.65 just a year ago, it’s difficult to view MVI as a safe investment, especially for the short term. As a long-term investment or value play, on the other hand, MVI may be worth a look. The Bottom Line Metaverse Index has demonstrated the ability to completely change the way people engage and interact with the concept of the metaverse. The platform combines several of the top metaverse platforms and tokens into a single basket, allowing crypto traders and metaverse enthusiasts to invest in the metaverse trend rather than in a single token. Its methodology just makes sense. If you want to take a hands-off approach to the crypto markets and potentially profit while mitigating risks, Metaverse Index is worth checking out.    

Interest in cryptocurrencies has fluctuated over the past few years as wealth flows into the cryptocurrency market with every bull cycle, creating millionaires. What has remained constant despite the surge of new cryptocurrencies is the market dominance of Bitcoin, still the most valuable crypto since its launch. In recent years, Ethereum has become the strongest competitor for market share, grabbing the reins and overtaking Litecoin. As cryptocurrencies vie for market share, Litecoin has managed to remain within the top twenty in terms of market capitalization, even after a decade. To learn more about these three cryptocurrencies, please refer to these following articles: What Is Bitcoin? What Is Litecoin? What Is Ethereum? In this article, we’ll be looking at the differences between these three cryptocurrencies, particularly regarding consensus mechanism, hash algorithm, distribution, transaction speed and use cases. Growth of the Cryptocurrency Market Bitcoin was founded in 2009. Since then, the cryptocurrency market has arguably gone through three bull markets, specifically in 2013, 2017 and most recently in 2020, a particularly prominent year with various altcoins reaching all-time highs alongside Bitcoin’s ATH of $69,000 in November 2021. Other crypto market catalysts have included the DeFi Summer of 2020 and the market adoption of non-fungible tokens (NFTs). In addition, the periodic emergence of meme coins such as Dogecoin and Shiba Inu (in 2013 and 2020, respectively) has expanded the crypto market. The expectation of widespread crypto adoption is also a major factor in the growth of the cryptocurrency market. International firms have incorporated cryptocurrency into their operations in recent years, including payment giant PayPal. With such developments, the market adoption of cryptocurrency has grown, with consumers’ awareness increasing. Why Is Bitcoin So Popular? Cryptocurrencies have existed for well over a decade. Yet, through all of the rapid developments in the crypto market, Bitcoin still remains the dominant cryptocurrency. It runs on a blockchain, a decentralized publicly distributed ledger that contains encrypted records of every transaction that’s ever been made on the network, thus ensuring data security. Bitcoin’s underlying blockchain technology enables peer-to-peer transactions and eliminates the need for control by governments or other centralized financial institutions.  The surge in Bitcoin’s popularity is also attributed to the profits it’s brought about for its investors. With a stunning 69,000% increase in price from $100 in 2013 to $69,000 in 2021, Bitcoin successfully captured the market’s attention. At the same time, altcoins (cryptocurrencies other than Bitcoin) have also begun gaining bigger market share, the most prominent one being Ethereum, which has risen in the ranks to claim second place in overall market cap.  Litecoin, previously ranked second in market cap right behind Bitcoin, has been overtaken by multiple new cryptocurrencies, but has still managed to remain within the top twenty cryptos by market cap. In addition, its token, LTC, has recently gained the market’s attention once again as its price rose by 35% in just one week in the midst of an ongoing bear market. Litecoin vs. Bitcoin vs. Ethereum Bitcoin, Litecoin and Ethereum are all open-source software platforms, and their codes are publicly accessible. Despite all three cryptocurrencies being blockchain-based, there are certain underlying differences between them. Details Let’s start off with some specific details pertaining to each of these cryptocurrencies. Consensus Mechanism Since blockchains are publicly shared ledgers, they require an effective, fair, real-time, dependable and secure mechanism to ensure that all transactions taking place on the network are genuine. The consensus mechanism is essentially a set of guidelines to determine the validity of contributions made by the participants of the blockchain. In a blockchain’s dynamically changing environment, all participants have to agree on a consensus on the ledger’s status before transactions can be confirmed There are two main types of consensus mechanisms: Proof of work (PoW) and proof of stake (PoS). Using PoW, Bitcoin and Litecoin rely on miners, who solve complex mathematical equations using specialized hardware to add blocks to the networks. On the other hand, the Ethereum blockchain uses PoS, whereby validators stake their currency to validate new blocks on the blockchain. PoS requires significantly less computational power than PoW, which lowers both hardware requirements and energy consumption. Hashing Algorithm A hashing algorithm, which determines how incoming data is incorporated and verified on a blockchain, differs for the three cryptocurrencies. Bitcoin makes use of the SHA-256 algorithm and Litecoin uses Scrypt, while Ethereum previously relied on Ethash, no longer relevant since the network has switched to PoS as a part of its Ethereum 2.0 upgrade. The SHA-256 algorithm utilized by Bitcoin uses the computational power of GPUs (graphics processing units) and, to a lesser extent, CPUs (central processing units) to verify transactions and blocks. The most common method for Bitcoin mining consists of the use of application-specific integrated circuits (ASICs), a hardware system that can be tailor-made to mine Bitcoins. However, many people prefer not to use ASICs because they’re expensive, challenging to maintain and necessitate specialized knowledge. Bitcoin mining has become more centralized and exclusive, as fewer people have the skills, resources and time to buy, set up and maintain ASICs. This compromises the security and resilience of the network. Scrypt is a modified version of SHA-256, but is more memory-intensive, which is reputed to lessen its reliance on GPU arithmetic logic units (ALUs) and, consequently, ASIC mining equipment. Scrypt aims to make mining more accessible to individuals, as not all users can afford hardware equipment such as ASICs. This contributes to the decentralization of a network. Nonetheless, ever since Scrypt ASIC mining machines were built in 2021, Litecoin mining has once again fallen under the control of a few dominant players. Distribution Bitcoin (token: BTC) and Litecoin each have a supply cap on their number of tokens, with Bitcoin’s set at 21 million and Litecoin’s at 84 million. Since Litecoin has four times the supply of tokens, its network possesses greater liquidity as compared to Bitcoin. However, the scarcity of Bitcoin makes it more valuable. Ethereum, on the other hand, doesn’t have any ceiling for its supply of ETH. Nonetheless, its rate of growth is limited to 4.5% per annum. Mining Rewards Miners are rewarded for their efforts in the form of a blockchain’s native currency.  In 2009, Bitcoin started off with a 50 Bitcoin reward per block mined. After going through three halvings, the reward is now set at 6.5 BTC. Similarly, Litecoin began with a reward of 50 LTC per block mined. Following two halvings, the current reward stands at 12.5 LTC per block, with a third halving scheduled for 2023, which will reduce the reward to 6.25 LTC. These rewards are halved in order to limit the quantity of each cryptocurrency released into the circulating supply, thus creating scarcity. Bitcoin block rewards are halved every 210,000 blocks, while Litecoin block rewards are halved every 840,000 blocks. This difference is due to the different supply cap. Since Ethereum now utilizes a PoS consensus mechanism, there are no rewards for block mining. Instead, participants are rewarded by staking their Ether on the network to participate in block validation. Depending on the staking program in which users choose to participate, their rewards can fluctuate anywhere from 2% to 20%. Transaction Speed Another significant difference among the three cryptocurrencies lies in their transaction speeds, or TPS. Bitcoin processes approximately 5 TPS, and takes about 10 minutes to create a new block. In addition, Bitcoin software limits the size of a new block to 1MB. Not all Bitcoin transactions are processed within ten minutes. This is especially the case when the network is congested, due to a large number of transactions. Litecoin processes 54 TPS, taking approximately 2½ minutes to create a new block. Transactions on Litecoin are roughly four times faster than Bitcoin’s. As a result, Litecoin is often regarded as a currency for day-to-day transactions, while Bitcoin is considered to be more of a store of value. With its recent upgrade (The Merge), the Ethereum network is now able to handle up to 100,000 TPS.  Transaction Fee Bitcoin: ~$1 Litecoin: ~$0.012 Ethereum: Ethereum employs a different mechanism, called gas, in place of transaction fees. The amount of computational work necessary to complete a transaction is measured in gas. On the Ethereum network, users must pay gas fees in order to complete a transaction. They’re correspondingly assessed a gas fee for each individual transaction. Network Scalability One of the biggest issues for the Bitcoin network is scalability. The more users trying to send funds over the network at a given moment, the more congested it becomes. Since transaction fees are defined on the basis of an auction, those who make higher bids get their transactions confirmed first. This leads to high network fees and longer confirmation times. Though Litecoin has much lower fees, its network experiences the same problem. To speed up transaction time and lower transaction costs, Bitcoin and Litecoin have implemented some improvements. Among these are SegWit, which increases the block size limit by pulling signature data from transactions, and Lightning Network, which keeps transaction data off the blockchain. Since Ethereum has switched over to PoS, problems with scalability aren’t as prominent. However, scalability has been a major issue for the popular Ethereum network while it was using a PoW consensus. Layer 2 solutions were implemented as a partial remedy for Ethereum’s former transaction rate of 12–15 TPS. Use Case The use cases for each of these three cryptocurrencies differ quite drastically. Bitcoin: Bitcoin was created as a form of technology to allow for decentralized peer-to-peer (P2P) payments. However, its slow transaction speed makes it impractical for daily use, and it’s been referred to as digital gold, serving primarily as a store of value. Litecoin: Litecoin was forked from Bitcoin’s code to tackle issues of cost and scalability. These differences make Litecoin more favorable for merchants, since payments and transactions can be carried out quickly at a cheaper rate. Ethereum: Ethereum focuses on smart contracts, transfer of asset ownership and DApp (decentralized application) production. Smart contracts are software programs that take action when specific criteria are met. This procedure makes sure that every Ethereum transaction is secure for the user. Additionally, exchanges like the transfer of property or the exchange of money may be included in the contracts. Ethereum’s unique feature is that it allows programmers to directly interact with its underlying network, a capability that Bitcoin and Litecoin do not support. Should You Invest in Any of These Coins? The cryptocurrency market changes very rapidly, making it difficult for investors to choose the best investment options. With all the hype around the industry, many people are wondering if they should invest in either Bitcoin, Litecoin or Ethereum. New currencies are created in the market every month, and there’s no guarantee they’ll remain popular. Still, the three dominant currencies compared in this article have a strong user base, experienced developing teams and are available on most exchanges. All three of these currencies have already proven to be profitable for investors, and to have a good chance of growth in the next few years. Closing Thoughts The cryptocurrency landscape has changed drastically since its inception. Recently, more attention has been brought to the regulatory environment surrounding crypto. Despite all of this change and uncertainty, Bitcoin and Ethereum have managed to retain their positions as the top two cryptocurrencies by market cap. Litecoin, on the other hand, is no longer within the top three, but still holds its position among the 20 largest cryptocurrencies.  The crypto market is indeed an exciting one, with great potential despite its volatility and associated risks. If you’d like to take part in the market, sign up with Bybit today.

Which cryptocurrency made its creator a billionaire 8 years after its creation? Why will Ethereum jump to the Ice Age? What's the deal with the ticking bomb hidden in the code? I invite you to the next lesson in which we will explore the secrets of the second largest cryptocurrency in the world. The Ethereum platform Ethereum is a decentralized open-source platform that is built on blockchain technology and supports peer-to-peer contracts (smart contracts) and decentralized applications (Dapps). Its native crypto token is Ether, i.e. ETH that allows transactions between users and or applications and the payment of related fees, that result from the computing power needed to process them. Read next: Crypto exchanges - what are they and how do they work? | FXMAG.COM Thank you for your attention. You already know what Ethereum is but perhaps you don't know or don't understand. After reading the definition above, I also had to think for a moment, so let's tackle this topic one by one, from the perspective of a beginner. The idea of creating Ethereum was born in Vitalik 's head Buterin, a Russian-born Canadian developer in 2013, which resulted in a briefing paper titled "Ethereum: The Ultimate Smart Contract and Decentralized Application Platform". Vitalik had 19 years and a pen when he created the Ethereum white paper. You can find a link to this document in the video description - https://ethereum.org/en/whitepaper/ Buterin was interested in programming based on the Bitcoin source code, but he quickly saw new opportunities that the Ethereum technology could offer, which BTC does not offer. This was due, among other things, to the lack of use of a scripting programming language. Generally, it is about the possibility of creating smart contracts and decentralized applications. Fundraising for the project Using the so-called ICO (Initial Coin Offering), i.e. collections where contributors receive tokens in return. The public sale of tokens lasted 42 days. It started on July 22 and ended on September 2, 2014. The tokens were sold for BTC, with the initial price being 2,000 ETH for 1 BTC, which was about 30 cents for one token at the time. Yes, this is the place where you can divide the current ETH rate by 30 cents and check how much you would have earned if you had already invested in the idea of a 20-year-old. The sale was carried out by a company registered in Switzerland. They managed to collect over 31.5 thousand BTC, which then meant a collection of around USD 14 million. It is worth adding that Vitalik Buterin did not act alone, and it would be really wrong if Gavin Wood was not mentioned, CTO of Ethereum, who had a huge impact on the development of the network. Attention! The official name of this cryptocurrency is Ether (ETH), and the blockchain of this cryptocurrency is Ethereum. Although on exchanges and various crypto listings you will meet the name Ethereum, which is a fairly generally accepted simplification. Launching of the Ethereum network The Ethereum network launched on July 30, 2015 with a 6-month delay. Now, what exactly is Ethereum ? First of all, it is a separate blockchain from the blockchain Bitcoin, so it is a new separate cryptocurrency. If you don't know what a blockchain is, I encourage you to watch a video based on it or read up more on the concept. In simple terms, Bitcoin is compared to a ledger in which subsequent transactions are recorded. If we would like to use a term or comparison adequate to that of Bitcoin, Ethereum can be compared to, for example, Excel, i.e. a program for performing various types of calculations. Read next: Anyone can become a validator without specialized equipment. What is The Ethereum Merge? - our team explains | FXMAG.COM In Ethereum, we are able to write a formula in a single cell (an analogy would be a single key in Bitcoin) that determines what should happen to the money that will flow in there. These are just smart contracts, of which there are a lot. Hence, these smart contracts can be analogous to, for example, notarial contracts. Ethereum is a proposal to build a block chain that has its own scripting language that allows you to write programs, although not like computer games, but such as, for example, various types of economic systems. In Bitcoin, nodes process transactions, while Ethereum network nodes process programs. Ethereum can therefore be described as a decentralized and distributed computer that can perform calculations and execute computer programs. The Ethereum blockchain system The programming language on which Ethereum is based allows for a lot, basically everything, but what is possible can also be inherently problematic. In October 2016, the network was divided into two blockchains, known as the hard fork. Why did it happen? It was due to the problem of The Dao organization based on the Ethereum smart contract. This organization raised $150 million and just 3 days later it was stolen. More than 1/3 of the collected funds were lost, due to hackers that took advantage of a minor bug in the code. If the system is decentralized like Ethereum, a smart contract once written cannot be changed. So if we transfer funds to such a smart contract, such an error can be exploited, but we are unable to fix such an error. The fraud caused a split in the cryptocurrency society - some users wanted to return the Ethereum network to the state before the theft, thus recovering the victims' funds, but others preferred not to interfere with the course of blocks and stay with the current state of the platform. This led to a split in the network, the so-called Hard fork. The cryptocurrency now known as Ethereum is the blockchain that brought the network back to its pre-fraud state. The cryptocurrency known as Ethereum Classic continued without intervention. But what is the ticking time bomb and ice age mentioned in the introduction? Ethereum was to strive to develop technological possibilities that would allow resignation from mining in favor of a consensus algorithm, the so-called Proof-of-Stake. In short, instead of mining, an inflation model is to be introduced, or otherwise a model based on a classic deposit. So we deposit funds that generate new ETH for us. For this purpose, an algorithm was implemented to gradually increase the difficulty of mining ETH (mining difficulty) until it becomes completely unprofitable. This algorithm was called Difficulty Bomb, and the moment when the difficulty of mining reaches a level too high for miners - Ice Age. It is possible that by the time you watch this video, the Ethereum network is already operating based on the aforementioned consensus. Bitcoin vs Ethereum Finally, let's compare Ethereum to Bitcoin, both cryptocurrencies are open source and give us a degree of anonymity. The main use of Bitcoin is to store value and conduct transactions within the digital currency. In addition to these activities, Ethereum also allows you to create and run decentralized contracts and applications. Bitcoins will be 21 million units, the number of Ethers is unlimited.

The events of November finally plunged the market into an abyss of fear and mass capitulations. According to a report by Glassnode, whales sold more BTC and ETH coins in November. A similar position was taken by miners because of the enormous losses. Despite this, investors continue to believe in cryptocurrencies and actively increase their investments. Analysts at Santiment note that euphoric moods have peaked in the last three months. First of all, this can be seen in the "shrimp" (> 1 BTC), which are actively buying out the current price drop. For the first time in the past two months, wallets with balances up to 100,000 BTC have joined them. It is also reported that the ETH network has set a staking record for the main altcoin in the region of 15.39 million ETH. ETH/USD Analysis Ethereum, like the entire market, is heavily dependent on Bitcoin at the current stage, and therefore the movement patterns are almost identical. During the current trading week, the market cooled down and moved to the phase of active accumulation. This allowed the market to move to the stage of recovery movement. Ethereum has become one of the coins that has benefited the most from the current recovery movement. The asset has risen in price by 9.5% over the past seven days, and the daily gain was 5.5%. The upward movement is also accompanied by an increase in on-chain metrics activity. Ethereum has come close to the upper border of the "triangle," within which the altcoin has been trading since the beginning of November . The cryptocurrency formed the second confident green candle in a row and consolidated above $1,250. Technical indicators on the daily chart indicate that the altcoin's upward trend continues. The RSI index continues to rise, which indicates the superiority of buyers and the development of bullish momentum. The Stochastic Oscillator and MACD have formed a bullish crossover and are moving in an upward direction. The identical movement of the two indicators indicates the formation of a short-term upward trend with gradually increasing trading volumes. ETH/USD on-chain analysis Ethereum on-chain metrics do not show such an iron bullish trend as technical indicators. The formation of upward dynamics is observed only in the indicator of the number of unique addresses in the ETH network. For further growth of ETH/USD quotes, the volume of daily trading should also increase beyond this indicator. There is an active accumulation of cryptocurrency by large investors with wallets up to 100,000 ETH. At the same time, "shrimps" and "sharks" continue to sell their stocks or remain neutral. As of writing, on-chain activity does not confirm the strength of technical metrics, which may prevent the final assault on the upper border of the $1,080–$1,300 channel. Results Ethereum follows Bitcoin and actively develops a recovery movement. To begin the implementation of a short-term bullish movement, the altcoin needs to gain a foothold above $1,300. As of writing, ETH hit $1,270 and faced bearish resistance. The asset retains chances to continue its bullish movement, and in case of consolidation above $1,300, ETH may reach the level of $1,350–$1,450. However, in case the storm of the $1,300 level is unsuccessful and the price falls below the level of $1,150, the bullish idea is cancelled. Relevance up to 09:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/328573

Crypto Industry News: Etherum is a 'fraud' that will eventually 'explode' like FTX as Bitcoin becomes the primary global form of money According to Cory Klippsten, CEO and founder of Swan Bitcoin, in the long run, BTC will become the primary form of money in the world, replacing the US dollar and other fiat currencies and beating altcoins: "It is very likely that Bitcoin will continue to grow in size, market capitalization, price and purchasing power for decades and become the world's money, which is likely to replace the US dollar in the long run," he said. 30 years, but it could also be something that won't happen until the next century." Suggesting that altcoins like Etherum and Solana are "bad coins", Klippsten stated that unlike Bitcoin, they cannot hope to become a form of money. He also said that Ethereum is a "scam" that will eventually "go up in the air." "Someone can issue and control the money supply in these altcoins and change the code whenever they want," he stated. . Klippsten, who correctly predicted the fall of Celsius, Luna/UST, and FTX, spoke to Michelle Makori, editor-in-chief at Kitco News. Technical Market Outlook: The Ethereum cryptocurrency has been seen moving higher as the bounce continues above the level of $1,231. The recent local high was made at the level of $1,280 (at the time of writing the article), however, the market has entered an extremely overbought levels. The intraday technical resistance is located at $1,1288. The momentum is strong and positive, so the move up is backed up by bulls. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend.     Weekly Pivot Points: WR3 - $1,253 WR2 - $1,213 WR1 - $1,190 Weekly Pivot - $1,173 WS1 - $1,150 WS2 - $1,133 WS3 - $1,093 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/303166

Crypto Industry News: Alabama and several other US states are investigating several major crypto companies, including Genesis The investigation is allegedly into potential securities breaches and links with retail investors. According to November 25 reports, lending firm Genesis Global Capital and other crypto firms are under investigation by US securities regulators. Joseph Borg, director of the Alabama Securities and Exchange Commission, confirmed that his state and several other states are involved in investigations into Genesis' alleged ties to retail investors, and whether the platform and other cryptocurrency companies may have violated securities laws. This information was provided by Barron's. It is not yet known which other companies have also been taken under the scrutiny of administrative authorities. Technical Market Outlook: The Ethereum cryptocurrency has been seen moving higher as the bounce continues above the level of $1,288. The recent local high was made at the level of $1,308 (at the time of writing the article), however, the market has entered an extremely overbought conditions. The intraday technical resistance is located at $1,1288, but the next target for bulls is seen at $1,343. The momentum is strong and positive on the H4 time frame chart, so the move up is backed up by bulls. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend. Weekly Pivot Points: WR3 - $1,253 WR2 - $1,213 WR1 - $1,190 Weekly Pivot - $1,173 WS1 - $1,150 WS2 - $1,133 WS3 - $1,093 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2022-12-02 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/303325

Ethereum staking withdrawals enter the testnet stage. Gas usage on Ethereum L2 networks reaches record monthly high. Aave proposes governance changes after failed US$60M short attack. Weekly DeFi Index This week’s market cap and volume indices were positive at +8.02% and +5.48%, respectively, while volatility index was negative at -4.55%. Check the latest prices on Crypto.com/Price New Project Spotlight Crypto.com announced Ledger support for its Crypto.com Wallet Extension. Users can now import and confirm transactions using their Ledger hardware wallet, allowing for a more secure experience when interacting with dApps. Ledger self-custodial wallets also now support CRO holdings on Cronos (in addition to the Crypto.org Chain). Users can easily manage their CRO through the Ledger Live app from the security of their Ledger wallets. News Highlight Ethereum staking withdrawals have entered the testnet stage. Developers have launched a multi-client devnet to test the unlocking of Ether staked, and the withdrawal will be part of the Shanghai upgrade.  Gas usage on Ethereum Layer-2 networks just hit a record all-time monthly high, seeing over 103 billion gas used — a huge leap from 33.2 billion at the start of the year. The fees were mainly used to validate transactions and operate bridges in Layer-1.   In light of the recent failed US$60 million short attack on Aave, the project’s contributors proposed governance changes to cover $1.6 million in Aave’s bad debt. Another separate proposal has been drafted, calling for temporarily freezing certain assets on the platform to prevent further market attacks.  Compound Finance users have also passed a proposal to impose new borrow limits on 10 of its assets, with the goal to reduce risks relating to liquidity, market changes, and price manipulation and exploits, among others.  MakerDAO‘s governance forum has voted to hike the DAI savings rate up to 1%. The proposed changes aim to ensure liquidity to maintain DAI stability and to take the staking yields to be on par with yield offered by other DeFi protocols such as Aave and Compound.  DEX aggregator 1inch releases Rabbithole, a new feature that will protect users from ‘sandwich attacks’ — a type of crypto front-running that involves controlling asset prices by placing two orders and surrounding pending transactions. Rabbithole works by sending swap transactions directly to validators while avoiding the mempool, where it is vulnerable to sandwich bots’ attacks.  Ethereum software firm Consensys updated its privacy policy, outlining how it  “collects, uses, shares, and stores personal information of users of its websites” through its on-chain wallet service Metamask. Recent Research Reports     Argentina 2022 Survey: Argentines Are Increasingly Keen to Adopt Cryptos and NFTs: Crypto.com recently commissioned a survey of more than 2,000 Argentines to find out more about their investment preferences, knowledge, and opinions on crypto and NFTs. Research Roundup Newsletter (October 2022): In this issue, we cover our recent Bloomberg Terminal integration, a special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility. Alpha Navigator (October 2022): We look at crypto industry performance in October, including ETH’s short-term correlations with equities reducing. Is the Fed pivoting on rate tightening policy?         Argentina 2022 Survey: Argentines Are Increasingly Keen to Adopt Cryptos and NFTs: Crypto.com recently commissioned a survey of more than 2,000 Argentines to find out more about their investment preferences, knowledge, and opinions on crypto and NFTs.   Research Roundup Newsletter (October 2022): In this issue, we cover our recent Bloomberg Terminal integration, a special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility.   Alpha Navigator (October 2022): We look at crypto industry performance in October, including ETH’s short-term correlations with equities reducing. Is the Fed pivoting on rate tightening policy? Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners.

Crypto Industry News: The German manufacturer has prepared the NFT collection, which is to consist of over 7,000 items tokens. This one will be inspired by the classic model - the Porsche 911. The tokens will hit the market in January 2023. The initiative is led by a designer and 3D artist from Hamburg, Patrick Vogel. We know that every NFT buyer will be able to personalize their token. It is about the so-called "route" that will include "lifestyle, performance and heritage". Each such "route" is intended to reflect individual "aspects of Porsche's premium brand identity". Sounds mysterious, but that's not all. The data collected in this way will be needed by Vogel, who is then to prepare NFT as a special 3D resource based on Unreal Engine 5. In addition to personalizing their NFTs, buyers will also be able to participate in brand experiences in the virtual and real world. Porsche, however, does not intend to stop at NFT. The company is also working on integrating blockchain technology with its systems. Technical Market Outlook: The Ethereum cryptocurrency has made the recent local high at the level of $1,308 into extremely overbought conditions. The intraday technical resistance is located at $1,1288, but the next target for bulls is seen at $1,343. The upside might be limited due to the fact, that the level of $1,300 is the upper channel line, so a pull-back towards support is welcome. The momentum is strong and positive on the H4 time frame chart and is coming off the overbought levels. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend. Weekly Pivot Points: WR3 - $1,253 WR2 - $1,213 WR1 - $1,190 Weekly Pivot - $1,173 WS1 - $1,150 WS2 - $1,133 WS3 - $1,093 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-12-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/303493

The cryptocurrency market meets Friday in a lazy mood, which is reflected in the quotes of the main cryptocurrencies. Over the past day, the market capitalization of all digital assets has decreased by almost 1%, which is a significant decrease in the current conditions. Inflation triggers bullish momentum Despite this, the fundamental news background remains positive and neatly spoils the market, where we should expect the next bullish impulse reaction. Fed Chairman Jerome Powell noted that the main signal to reduce inflation will be the PCE Price Index statistics. According to the released data, the economic indicator rose +6% in October. In September, the metric reached 6.3%. The presence of a downward trend in the PCE metric indicates a continuation of the downward trend in the inflation rate. This means that the next inflation report could trigger a boom in high-risk asset markets. Given this, we should expect increased volatility and attention of crypto investors to the next inflation report. Read next: Steen Jakobsen: ECB strategy is praying, hoping and waiting... not exactly action which gives hope for real economy| FXMAG.COM Negative factors With all the positive developments in the fight against inflation, the price of Bitcoin and other cryptocurrencies remains at the local bottom. This provokes huge losses of related industries, which, in turn, negatively affect the upward potential of cryptocurrencies. Bitcoin's hash rate has reached 300 EH/s again, while the price remains near $17k. This provokes one of the largest sell-offs among miners in history. Over the past day, the reserves of mining companies have fallen by 10,000 BTC. In addition, miners sell BTC mining equipment to cover running costs. There have also been reports that mining firms are using hardware as collateral for the loans they need to stay viable. BTC/USD Analysis Given the miners' concerns above, Bitcoin's upward movement has stalled near the $17k–$17.1k resistance level . Despite the slowdown in growth rates, the bears failed to seize the initiative and absorb the volumes of the bulls in the last days of November. As a result, Bitcoin failed to completely leave the "triangle," which means that the probability of a period of local accumulation before the beginning of next week is greatly increased. Technical metrics also point to a pause: the RSI is moving flat, while the stochastic is forming a bearish crossover. Given the divergence of technical metrics and the possibility of a decline, BTC needs to hold the $16.7k level. Otherwise, the price will go to retest $16k and below. However, in general, the activation of buyers, the growing correlation with stocks and a positive fundamental background can provoke a new monthly high. ETH/USD Analysis On the daily chart of ETH/USD, a situation similar to Bitcoin has formed. The price is near the border of the fluctuation range and has every chance to make a bullish breakout and storm $1,400 and $1,450. However, the close relationship with BTC does not allow the altcoin to move on its own, and therefore the main signal for the growth of the ETH price will be the bullish momentum of Bitcoin. Ethereum technical indicators are also echoing BTC and are in a consolidation pause. At the same time, Ethereum on-chain activity is growing, which may indicate an attempt to finally go beyond the $1,050–$1,350 range. It is also worth noting the low activity of sellers in the ETH network, which may indicate a high probability of a successful attempt by the bulls to break through $1,300 over the weekend.   Relevance up to 09:00 2022-12-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/328817

Crypto Industry News: Sandy Kaul, a senior manager at Franklin Templeton, a $1.5 trillion wealth management company, believes that ETH staking opens up significant opportunities for institutions looking at the cryptocurrency market. In her opinion, this feature can become a trigger for mass adoption among institutions: "Let me say this, keep your eyes peeled for this area because he has seen some powerful products that will fill exactly the niche you are talking about." The asset management expert further says that the growth of the cryptocurrency industry reminds her of the area of hedge funds in the 2000s. Then the institutions literally rushed to market sell-offs to take the best positions and take control of the market. "I believe what happened in the hedge fund industry up to and after 2008 can be very illuminating in this situation (regarding the cryptocurrency market). We saw $2 trillion worth of assets flowing in over 3 years. That is a huge influx of money, bringing the industry closer to $3 trillion, which is roughly the level that the digital asset industry reached during the last bull market," says Sandy Kaul. According to the expert, what is happening now is a real revolution of the basic investment base. What was happening in the hedge fund market then and what is happening in the cryptocurrency industry now is the same kind of upheaval. You can also see that institutional money is slowly replacing the funds of retail investors that the latter are pulling out of the market. Thus, funds and institutions are slowly but steadily responsible for an increasing percentage of the cryptocurrency market. Technical Market Outlook: The Ethereum cryptocurrency has made the recent local high at the level of $1,308 in extremely overbought conditions, so a pull-back towards the level of $1,236 was made. Currently, the bulls are again trying to resume the rally. The intraday technical resistance is located at $1,305, but the next target for bulls is seen at $1,343. The momentum is again strong and positive on the H4 time frame chart, so the short-term outlook remains bullish. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend. Weekly Pivot Points: WR3 - $1,345 WR2 - $1,317 WR1 - $1,305 Weekly Pivot - $1,289 WS1 - $1,277 WS2 - $1,261 WS3 - $1,233 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-12-06 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/303690

Crypto Industry News: In the US, there is a debate on the regulation of the cryptocurrency market. The bill currently being drafted by Senator Elizabeth Warren aims to transfer control of the industry to the SEC. Politicians want to impose new obligations on centralized exchanges. According to Jeffrey Sprecher, president of Intercontinental Exchange Inc (ICE), this will be good for investors. After the collapse of the FTX exchange, many American politicians and officials turned to cryptocurrencies again. Digital currencies have also returned as a topic for public debate. Speaking at a December 6 conference on financial services hosted by Goldman Sachs Group Inc, Sprecher said that cryptocurrencies should be "regulated and treated like securities." - What does it mean? Greater transparency, security of customer funds - he explained. He also argued that in the case of cryptocurrencies, new regulations would not necessarily be needed. He pointed out that the legal framework that applies to securities can be applied. These "will just be implemented more strongly." Senator Elizabeth Warren seems to think so too. It is known that he is working on a law on cryptocurrencies. This would give power over the market to the Securities and Exchange Commission (SEC). According to the media, the document also includes issues regarding taxes, national security in the context of using digital assets and the impact of mining on the environment. Warren also wants to impose new obligations on market entities by means of the act. It is about audits, financial statements and capital requirements similar to those known from the banking market. Technical Market Outlook: The Ethereum cryptocurrency has broken below the trend line seen around the level of $1,254 and made a new local low at the level of $1,1219. As the momentum is negative on the H4 time frame chart, the short-term outlook remains bearish with a target for bears located at $1,150 (28th November low). Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend. Weekly Pivot Points: WR3 - $1,345 WR2 - $1,317 WR1 - $1,305 Weekly Pivot - $1,289 WS1 - $1,277 WS2 - $1,261 WS3 - $1,233 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-12-09 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304187

Ethereum price is set to slip further to the downside as the realization kicks in that the Christmas rally is a no-show. ETH is valued at $1,014 as global market dynamics are breaking down. With red lights flashing again, a massive snowball is rolling toward the markets and is set to cause many casualties. Ethereum (ETH) price was still pronged for a rally earlier this week as the situation in financial markets started to clear up. However, since Tuesday, reality has kicked in that the Christmas rally will not happen, similar to plenty of workers hearing that there will be no Christmas bonus or wage increase to pair the inflation spikes. Currently, correlations are breaking down in global markets as the US Dollar weakens, equities still sell-off and bond prices decline massively as investors exit markets in all asset classes. Read next: BMW Was Fined 30,000 Pounds By CMA, Google Wants To Become More Productive| FXMAG.COM ETH is in trouble and it could get ugly on the way down Ethereum price was riding a wave of hope as markets seemed to have factored in several elements that pointed to the Fed soon ending its hiking cycle, having a moderate recession or even missing out on that, and tying up with growth somewhere in the fall of next year. Markets realize it has been too easy and too quickly priced in as investors are backing away after several economic data numbers pointing to a toxic cocktail for global markets. Higher unemployment, massive layoffs, low to no growth and possibly contraction of several economies, mixed with a possible house pricing crash and sticky elevated inflation, make investors cash in and choose cash as their favorite place. ETH will see massive selling pressure, which will easily bring price action down to $1,073, testing the low of November. From there, it is just a few US Dollars towards $1,014, an intermediary limit aligned up that could do the trick for now. If selloffs start to accelerate in the Dow Jones with over a 1000 points loss on one day and weekly jobless claims in the US rising, expect ETH to exit $1,000 and start trading at $830.93 near the low of 2021. ETH/USD daily chart Markets could still return to their senses and start trading higher once the eventful week of next week is done. Markets will eagerly watch the Fed on Wednesday for any hopes or supportive messages from Fed Chair Jerome Powell to cling in the remaining calm weeks of the year to still make some bucks. ETH, n that scenario, would be closing the year near $1,688.

Crypto Industry News: PayPal has been focusing heavily on virtual tokens for some time now and is now announcing its entry into one of the European Union countries, namely Luxembourg. Recently, the company revealed that it is expanding its services, taking as its destination a small country in Western Europe, i.e. Luxembourg. According to the electronic payments giant, new customers will be able to buy, sell and, above all, store their digital assets on the company's accounts (platform). Initially, the list of tokens will include Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) and, interestingly, Bitcoin Cash (BCH). These assets can be stored via a website or a mobile application on smartphones. The aforementioned service will be launched in the tax haven in the next few days. After that, eligible customers will be able to buy cryptocurrencies, starting with a minimum amount of 1 Euro. Technical Market Outlook: The Ethereum cryptocurrency has broken below the trend line seen around the level of $1,254, made a new local low at the level of $1,1219 and then bounced right back up towards the same trend line to test the breakout from below. As the momentum is negative on the H4 time frame chart, the short-term outlook remains bearish with a target for bears located at $1,150 (28th November low). Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend. Weekly Pivot Points: WR3 - $1,345 WR2 - $1,317 WR1 - $1,305 Weekly Pivot - $1,289 WS1 - $1,277 WS2 - $1,261 WS3 - $1,233 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 10:00 2022-12-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304347  

Crypto Industry News: Kazakhstan may no longer be the center of bitcoin mining, which it was relatively recently. All because of the new mining regulations. The deputies passed the law "On Digital Resources of the Republic of Kazakhstan" and other regulations regarding cryptocurrency mining. Recall that after China banned mining, Kazakhstan became one of the BTC mining centers in the region. All because of cheap electricity. But that may change now. Didar Bekbauov, co-founder of Xive, a cryptocurrency mining platform, notes that a total of five bills passed introduce a new scheme for purchasing electricity for miners, as well as updated licensing and taxation systems. BTC miners will only be able to buy surplus electricity from the public grid. Purchase of electricity through the Kazakh Exchange of the Energy Market Operator may also be carried out by them, but not everyone will be able to make this type of purchase, because electricity will be sold in the form of an auction. Technical Market Outlook: The Ethereum cryptocurrency has broken below the trend line seen around the level of $1,254, made a new local low at the level of $1,1240 (at the time of writing the analysis). As the momentum is negative on the H4 time frame chart, the short-term outlook remains bearish with a target for bears located at $1,150 (28th November low). Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend. Weekly Pivot Points: WR3 - $1,291 WR2 - $1,269 WR1 - $1,257 Weekly Pivot - $1,248 WS1 - $1,235 WS2 - $1,226 WS3 - $1,204 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2022-12-13 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304499

Crypto.com releases audited Proof of Reserves. Ethereum’s developers prioritising staked ETH withdrawals. Starbucks testing customer loyalty programme with NFT collecting. Weekly Market Index Last week’s crypto market prices were flat at +0.51%, while volume and volatility dropped by -20.09% and -48.99%, respectively.     Weekly Performance Bitcoin (BTC) and Ethereum (ETH) were down -0.9% and -1.8% in the past seven days, respectively. Other selected top-cap crypto tokens also mostly fell.         News Highlights Crypto.com released its audited Proof of Reserves, enabling users to verify that their crypto assets are fully backed (1:1) on the platform. Ethereum’s developers are prioritising staked ETH withdrawals for the network’s next major upgrade, Shanghai, delaying the implementation of The Surge, the network’s sequel to The Merge.  Goldman Sachs is reportedly looking to buy crypto firms amid current lower valuations. Starbucks launched a beta test of its Odyssey program, which combines customer loyalty rewards with non-fungible token (NFT) collecting and other gamified elements. Recent Research Reports Decentralised Social Networks: An Overview Social Graph and Digital Identity in Web3 Alpha Navigator (November 2022)  Research Roundup Newsletter (November 2022): In our latest Research Roundup, we feature trending market insights and our research reports on SocialFi and the decentralised social network landscape. Decentralised Social Networks: An Overview: Decentralised social networks aim to enable participants to take back ownership of and better monetise their content and data. We explore the project landscape. Social Graph and Digital Identity in Web3: Relationships and identities are key elements that make up social networks. In this report, we put a spotlight on the roles that decentralised social graphs and digital identity play in Web3 social. Alpha Navigator (November 2022): Risk assets were up in November, with the exception of crypto. Could potentially slower rate hikes provide some Christmas cheer? Catalyst Calendar             Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES MARKET Source: crypto.com

Crypto Industry News: What almost the entire cryptocurrency community expected has happened. Sam Bankman-Fried was arrested by the authorities in the Bahamas. This is the result of pressure from the US authorities. Information about the arrest of the former CEO of FTX was announced by the Bahamas Attorney General's Office and the country's Minister of Justice, Ryan Pinder. Bankman-Fried ended up in the hands of the Royal Police Force. This was demanded by the US authorities. The allegations against the businessman include securities fraud and money laundering, It is almost certain that ex-CEO FTX will now go to his homeland. US authorities are demanding his extradition. Pinder said the Bahamas would "promptly" consider any such request. A December 12 tweet from the U.S. Attorney's Office for the Southern District of New York said authorities in the Bahamas had arrested Bankman-Fried on a sealed indictment due to be opened "in the morning." A few days earlier, New York prosecutors and FBI agents met with FTX lawyers. It was about discussing what documentation the investigators wanted to obtain for the trial. The U.S. Department of Justice is also "thoroughly" investigating whether FTX improperly transferred hundreds of millions of dollars around the time the company filed for bankruptcy (on November 11). Technical Market Outlook: The Ethereum cryptocurrency has broken below the trend line seen around the level of $1,254, made a new local low at the level of $1,1240 and then got stuck inside a narrow trading range seen between the levels of $1,239 - $1,293. As the momentum is negative on the H4 time frame chart, the short-term outlook remains bearish with a target for bears located at $1,150 (28th November low). Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend. Weekly Pivot Points: WR3 - $1,291 WR2 - $1,269 WR1 - $1,257 Weekly Pivot - $1,248 WS1 - $1,235 WS2 - $1,226 WS3 - $1,204 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 09:00 2022-12-14 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304677

Crypto Industry News: On December 13, the US Securities and Exchange Commission (SEC) filed charges against Sam Bankman-Fried, the founder and former CEO of the FTX cryptocurrency exchange, which declared bankruptcy in early November. The SEC accuses Bankman-Fried of violating the Securities Act, which has been in effect since 1933, and the Securities Exchange Act of 1934. The indictment from the SEC seeks to deprive the SBF of its right to participate in the issue, purchase, offer and sale of any securities except its own personal account. In the filed complaint, the SEC accuses him of developing and implementing a plan to defraud capital investors in FTX Trading Ltd. (FTX). The regulator notes that Bankman-Fried concealed the diversion of FTX client funds to cryptocurrency trading company Alameda Research. What's more, the defendant during this time raised funds from investors in the amount of over $ 1.8 billion. "We claim that Sam Bankman-Fried built a house of cards on the foundation of a scam, telling investors it was one of the most secure buildings in crypto" - SEC chairman Gary Gensler said. Technical Market Outlook: The Ethereum cryptocurrency has broken out to the upside from the consolidation zone and made a new local high at the level of $1,347. This is the key short-term technical resistance for bulls, so in order to continue the up move the bulls need to break through towards $1,400. The level of $1,308 will act as the technical support, so please keep an eye on this level. The momentum is strong and positive on the H4 time frame chart, so the odds for another leg up are high. Weekly Pivot Points: WR3 - $1,291 WR2 - $1,269 WR1 - $1,257 Weekly Pivot - $1,248 WS1 - $1,235 WS2 - $1,226 WS3 - $1,204 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 09:00 2022-12-15 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304868

Crypto Industry News: The global pressure to regulate cryptocurrencies shows no signs of abating. Authorities in Australia have announced their intention to establish a framework for licensing and regulating crypto providers in 2023. The move to regulate cryptocurrencies is part of the Australian government's broader goal of modernizing the financial system. This is according to a statement issued by Hon Stephen Jones MP, Deputy Treasurer and Finance Minister. In addition to its goal of establishing a framework for regulating cryptocurrencies, the government also plans to "update and strengthen the Australian payment system; strengthen its financial market infrastructure; and establish a regulatory framework for Buy Now, Pay Later. Cryptocurrency regulation has been an Australian focus since the collapse of FTX made headlines, with the Australian government stressing the importance of ensuring greater consumer protection as soon as possible. "These reforms are designed to ensure we have a financial system that works for consumers, businesses and investors - one that benefits the Australian economy and Australian people," Jones said in a statement. The finance minister went on to say that the previous government had "sat back" when it came to keeping up with market developments, especially when it came to new digital products and services. Accelerating regulatory action following recent events will be the goal of the Albanese Prime Minister's government. Technical Market Outlook: The Ethereum cryptocurrency has broken out to the upside from the consolidation zone and made a new local high at the level of $1,350. This is the key short-term technical resistance for bulls, so in order to continue the up move the bulls need to break through towards $1,400.So far the bulls are being rejected from this level, but during the pull-backs the market still trades above 100 SMA. The level of $1,308 will act as the technical support, so please keep an eye on this level. The momentum is strong and positive on the H4 time frame chart, so the odds for another leg up are high. Weekly Pivot Points: WR3 - $1,291 WR2 - $1,269 WR1 - $1,257 Weekly Pivot - $1,248 WS1 - $1,235 WS2 - $1,226 WS3 - $1,204 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 08:00 2022-12-16 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/305053

Merkle trees are used in computer science applications as a data structure for data verification and synchronization. Merkle trees are also used to more securely and efficiently encrypt blockchain data in Bitcoin and other cryptocurrencies.  With cryptocurrencies, a Merkle tree database is used to securely split the block's data and ensure that it is not lost, damaged, or altered. This method of data management makes it possible to validate specific transactions without downloading the entire, terabyte-sized blockchain. It is a reliable, secure, and cryptographic method of running the blockchain. As a result of the fall of the Centralized Exchange (CEX) giant, FTX, many CEXs have built and implemented Merkle Tree as a form of Proof of Reserves (PoR) to assure users that their funds are safe. In this article, we will be discussing what are Merkle trees, their role in blockchain and how a user can validate their funds using the Merkle tree. Who is the Founder of Merkle Tree? Ralph Merkle, a computer scientist renowned for his work on public-key cryptography, proposed Merkle trees in the 1987 paper "A Digital Signature Based on a Conventional Encryption Function". Cryptographic hashing was also invented by Merkle. What Is a Merkle Tree? Merkle tree is a hash-based mathematical data structure that compiles the summaries of all the transactions in a block. It is a method for quickly checking the accuracy of data in a decentralization manner. As a result of its functionalities, Merkle trees are utilized more effectively and securely to encrypt blockchain data.  Merkle trees are often used with peer-to-peer (P2P) networks because of the need to have information shared and independently validated. Let’s understand more about Merkle trees and how they work. Merkle Tree Structure The Merkle tree, also known as a hash tree, has a binary tree structure, with the hashes of the transactional data on the bottom row being referred to as "Leaf Nodes," the intermediate hashes being referred to as "Non-Leaf Nodes," and the hash at the top being referred to as the "Root." Even though the majority of hash tree implementations are binary (each node has two child nodes), they can also have a lot more child nodes. Source: Simplilearn When looking at the structure of a Merkle tree, all transactions are grouped in pairs. Each pair has a computed hash that's stored directly in the parent node. These nodes are also grouped into pairs, after which their hash is stored on the next level up. This process continues until reaching the root of the Merkle tree. Let’s take a look at each of the nodes: Leaf Nodes These are the hashes of each cryptocurrency transaction in a block, also referred to as transaction IDs (TXIDs). You view the transaction hash when you search for a transaction on a block explorer. Non-Leaf Nodes Then, to create a layer of non-leaf nodes above the leaf nodes, these leaf nodes are hashed together in pairs. They are known as non-leaf nodes because, in contrast to leaf nodes, they merely store the hash of the two leaf nodes that it represents and don't contain transaction IDs (or hashes). As a result, there will be half as many hashes (or nodes) in the non-leaf node layer above the leaf nodes as there are in the leaf node layer. As the tree narrows as it ascends, these non-leaf node layers continue to be hashed together in pairs, resulting in half as many nodes per layer. Two nodes will be present in the final non-leaf node layer. This creates the Merkle root and is the location of the last hashing in a Merkle tree. Merkle Root With Bitcoin, the hashes of all transactions are combined into a single hash and stored in the block header. The Merkle root, also known as the root hash, is this particular hash. The leaf nodes (transaction IDs/hashes) at the base of the Merkle tree can be verified using this Merkle root. When used for cryptocurrencies, the Merkle root makes sure that data blocks are unaltered, undamaged and whole. A Merkle tree is binary, which means that the total number of different leaf nodes must be even for the tree to be properly constructed. When an odd number of leaf nodes exists, the previous hash will be duplicated to provide an even number of nodes. Source: Techskill Brew How Does a Merkle Tree Work? A Merkle tree is essentially designed to break large pieces of data into considerably smaller chunks, which ensures that all the transactions can be verified promptly. The tree summarizes every transaction by creating a small fingerprint of a specific set of transactions, which makes it easier for users to verify the availability of transactions in a block.  Merkle trees are formed by hashing different pairs of nodes until just one hash remains, which is referred to as the Merkle root. These trees are built from the bottom up, with each transaction consisting of hashes. Every leaf node is a singular hash of data. As for non-leaf nodes, these are hashes of previous hashes. Let's say that a Merkle tree consists of four transactions which are labeled D0, D1, D2 and D3. Each transaction is hashed before the hash is stored directly on the leaf node. When this occurs, hash N0, N1, N2 and N3 are created. Any consecutive pair of leaf nodes will then be summarized in a parent node via the hashing of hash N0 and hash N1, which results in hash N4. If hash N2 and hash N3 are hashed together, hash N5 is created. Both of these hashes, N4 and N5, are hashed once more in order to create the Merkle root. This process can be used with extensive data sets. The Merkle root is responsible for summarizing the data that's present in specific transactions, all of which are stored directly in the block header. This technique results in data integrity being properly maintained. In the event that one detail within the transaction is changed at some point, the Merkle root will automatically change alongside it. Benefits of a Merkle Tree There are many benefits for blockchain technology and cryptocurrency platforms when using a Merkle tree to verify transactions, which include everything from efficient verification to easy tampering detection. Efficient Data Verification Process It's easy for transaction integrity to be verified in practically no time at all. Because of how the data is structured, very little memory needs to be used during the verification process and the computing power required is significantly reduced.  Because blockchains typically consist of hundreds of thousands of blocks, each of which can contain up to several thousand transactions, validating the data poses two major challenges: memory space and computing power. Every node on the network would have been required to maintain a complete copy of every transaction that has ever taken place on the blockchain if Merkle trees were not a concept in the blockchain. A node would have had to compare each entry line by line when verifying a transaction to ensure that its records exactly match the network records. The network's security could be jeopardized if there was any discrepancy between the records. As a result, to compare the records to make sure there had been no changes, the computer used to validate the data would have needed much more processing power.  Merkle trees, on the other hand, offer a solution to this issue by drastically reducing the amount of data that must be kept on hand for verification needs. They hash every entry in the ledger, effectively separating the data itself from the evidence supporting it. Without knowing every single TXID in a block, you can check a TXID using the Merkle root with a Merkle tree. A Merkle tree is essentially a great way to demonstrate that something is present in a dataset without having to download the entire set. Consequently, less computing power is needed to validate the transactions. Faster Processing Speed As a result of the distribution of the transactions on the block among the validators, each validator is working on a different transaction at the same time. Compared to a method where each transaction is sequentially validated after another, this is much more effective. Usage of Crypto Wallet Simple Payment Verification (SPV), which enables you to confirm a transaction without downloading an entire block or blockchain, is made possible by the Merkle tree. This enables the use of a light-client node, more formally known as a crypto wallet, to send and receive transactions. Detection of Any Tampering The hash structure makes it easy for miners to identify if tampering has occurred with transactions.  A distinct hash value is generated for each block using the Merkle root. The block links one block to another in the blockchain by including the hash of the preceding block. The hash of any transaction changes whenever that transaction is modified. The block becomes invalid as a result of this change because it cascades up to the Merkle Root and alters its value. This then causes a change in the hash of the following block, rendering the remainder of the Blockchain invalid. As a result, the Merkle tree creates an immutable record of the block's transactions. Double spending can also be prevented as a result. If an individual tries to double-spend his digital currency, a hash will be generated for that transaction. If that hash matches the existing records present on the Blockchain, that transaction is rejected. Why Are Merkle Trees Important in Blockchains? Merkle trees have proven to be essential for blockchain technology because they facilitate quick and easy verification in a manner that's not possible with other techniques. These Merkle trees provide developers with the ability to compress exceedingly large sets of data by getting rid of all unnecessary data, and turning the data that remains into hashes. The various features provided by Merkle trees include: Very lightweight structure Effective scalability Fuel efficiency Verification that transactions are included in a specific block Basic payment authentication Merkle Tree Proof-of-Reserves (PoR) As mentioned in the beginning, following the downfall of FTX, users have been concerned as to whether their funds are actually kept safe in CEXs. As a result, multiple CEXs have come forth to develop a Merkle Tree Proof-of-Reserve mechanism. In this section, we will be looking into Merkle proofs and how our users can validate their funds. Merkle Proofs A Merkle tree proof is a cut from a Merkle tree, not the actual tree. And be represented as an array or sequence (shown by the orange portion in the diagram below). All of the leaf nodes and the balance information for a particular single user of our company are represented by the figure's last level nodes. Assuming that the pink people in the figure represent the intended recipients of the proofs, we extract the orange portions of the figure level by level and present the proof documents to the users in order of height. It's significant to remember that the Merkle proof has two main components The direct parent nodes (i.e., B and D) of this user are not extracted. Provide the root node, i.e. Merkle root. Taking the volume of 10 million users as an example, the height of the tree can be calculated as Log2(10,000,000) = 23.2534966642 based on the mathematical formula, which gives the height of the tree as 24 levels. Therefore, the nodes in the graph that are intentionally not provided to users will be 24 - 2 = 22. Merkle tree is a complete binary tree, which allows us to calculate all of the information about its parent node by simply knowing the left and right nodes. Two parts make up this complete information: the balance data and the hash data. Balance Data: The parent node data can and can only be split to its lower left and right nodes. Hash Data: Only balance data, tree hierarchy data, and child node hash data will be present for each node (each node keeps summary data of the left and right nodes below it). The validation of the Merkle tree is computed by deriving the B and D and verifying that the balance is in accordance with the splitting principle; and the hash is legal. By utilizing a hash summary function, the Merkle tree enables users to determine whether they are a part of the entire tree without having to be aware of every purple node in the graph. The Merkle proof is exclusive to that user. For instance, a 24-level Merkle tree requires an array of 23 elements to verify the user's balance information, and this array can only confirm that the user's balance proof is accurate. The user cannot reconstruct the entire tree based on his or her fragmented information as long as they do not obtain more than half of the total number of users. As a result, the Merkle tree protects both user privacy and the company's ability to prevent the leak of information about the company's overall assets. Validating Your Bybit Account There are 2 methods available for you to validate your Bybit account and to check the validity of funds. Platform Validation Tool This method is the first and only one in the entire network, and it will show the node derivation process of Merkle Tree validation in an intuitive graphical manner on the company's platform. Self Validation Tool The company's Merkle tree generation source code and validation code are openly available on github to assist users in programming their own validation. The Merkle tree calculation process involves a huge amount of user calculations, which are usually implemented by big data and Java.  *An open Java code means that it is open to users without holding back any information. Bybit has open-sourced the following code for professional users to validate their own Merkle Tree proof file by copying it from their proof of reserves page to their own "sticky" version of the system via the Copy Data button and storing it as a file named myProof.json to local disk. Applications of Merkle Trees in Blockchain Merkle tree and Merkle root structures have already been widely adopted across many different blockchains and cryptocurrency platforms. The following details three such applications. Bitcoin Bitcoin uses Merkle trees in several ways, which makes these trees integral to the entire Bitcoin platform. In fact, these trees are present in every Bitcoin block header. The hash for every transaction that's available within the block is placed in the header. When it comes to Bitcoin, the Merkle root is important for mining as well as verification. Mining Bitcoin blocks consist of headers that contain metadata as well as an extensive list of transactions. This list is usually larger than the block's header. Miners hash data to create an output that adheres to specific conditions, which is necessary when validating a block. The miners can make trillions of separate attempts before they find a valid block. Every attempt requires a number in the header of the block to be changed. Even though thousands of separate transactions can exist in a block, each one must be hashed. Merkle roots allow miners to make this process much more efficient. When the mining process begins, all that's necessary is for the transactions to be made into a Merkle tree, after which the root hash can be placed within the block header. At this point, the miner is only required to hash the header of the block, as opposed to the entire block. Verification Another aspect of the Merkle root that's used with Bitcoin involves leverage, which focuses on light clients. When a node is being operated on a relatively weak device that has limited resources, users won't be able to download and hash every transaction in a single block. Instead, a Merkle proof can be requested, which is confirmation that a transaction is present in a block. By reducing the number of hashes that need to be performed during the verification process, verification can occur without using as many computing resources. Ethereum Ethereum is based on a somewhat modified version of the Merkle tree, which is why it's referred to as the Merkle Patricia tree. Every block within the Ethereum blockchain consists of three Merkle trees, as opposed to one binary tree — which is what happens in Bitcoin blocks. Each of the three roots has its own purpose. The initial root is considered to be the root of every transaction. As for the second root, it shows the state of the transaction. The final root is the receipt of the transaction. A user can look at a Merkle root to determine if a transaction is found on a specific block, as well as determine what their account balance is. Hyperledger Fabric When looking specifically at Hyperledger Fabric, this blockchain platform uses a Merkle tree to compute block data as a hash. The hash value identifies the width of the Merkle tree. Merkle trees on the Hyperledger Fabric platform work just like the ones on the Bitcoin platform. The Bottom Line Merkle trees have proven to be highly useful for cryptocurrency platforms that want to make sure their transaction verification process is as easy and efficient as possible. Without this structure in place, verification would be a time-consuming process because the data would need to be transferred throughout the entire network for verification. The platforms that use Merkle trees benefit from less bandwidth and computational power requirements.   Source: What Is a Merkle Tree & What Is Its Role in Blockchain? | Bybit Learn

Crypto Industry News: Microsoft has updated the terms of its policies to highlight that it does not allow cryptocurrency mining on its online services without prior approval. The update went live on December 1 and applies to all users, including paid Microsoft customers. In the "Terms of use" section, Microsoft wrote that it requires users to obtain the company's written pre-approval in order to use any Microsoft Online Services for cryptocurrency mining. It seems that the only time a company would give written approval is for the "Testing and Investigating for Security Detection" purpose. The update prohibits users from mining and adding transaction records to proof-of-work blockchains on Microsoft's online services, largely related to the Microsoft Azure platform. Microsoft has reportedly said that its latest cryptocurrency mining restrictions are designed to protect online services from threats such as cyber fraud, attacks, and unauthorized access to customer resources. Technical Market Outlook: The Ethereum cryptocurrency has made a new local high at the level of $1,350. This is the key short-term technical resistance for bulls, so in order to continue the up move the bulls need to break through towards $1,400. The bulls were rejected from this level towards the 100 SMA on the H4 time frame chart. The level of $1,308 will act as the technical support, so please keep an eye on this level. The momentum is weak and negative already, so the corrective cycle might extend towards the technical support located at $1,240. Weekly Pivot Points: WR3 - $1,291 WR2 - $1,269 WR1 - $1,257 Weekly Pivot - $1,248 WS1 - $1,235 WS2 - $1,226 WS3 - $1,204 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 10:00 2022-12-17 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/305226

Crypto Industry News: Former president of the United States and billionaire Donald Trump is probably a person who needs no introduction. Recently, he decided to publish his own collection of non-replaceable NFT cards, decorated with his image. His collection of "baseball cards" sold out in less than 24 hours, which makes it a great success, considering the market sentiment of investors, in terms of the last few cold months. The wider community around the cryptocurrency market, however, reacted with more amusement than enthusiasm, because those who have been in the industry a little longer remember Trump's statements about digital assets, in which he simply called them a simple "scam". The collection was realized in various cards, some of which represented particular interests or sectors of the eccentric president's life. These included images of Trump dressed as an astronaut, a cowboy or a racing driver. Interestingly, "Trump Digital Trading Cards (NFTs) are for personal enjoyment only, not for investment purposes," the collection page explains. Despite this, individual cards, as a result of the draw, offered lucrative prizes to the winners, such as a zoom with the former president, or even a personal meeting and dinner. The collection had a total of 2,533 NFTs sold for $99 each, bringing the sale to over $250,000. Technical Market Outlook: The Ethereum cryptocurrency has made a new local high at the level of $1,350 and then retraced more than 61% during the corrective cycle. The level of $1,350 is the key short-term technical resistance for bulls, so in order to continue the up move the bulls need to break through it on their way towards $1,400. The bulls were rejected from this level towards the 100 SMA on the H4 time frame chart and are consolidating around the level of $1,200 inside a Triangle pattern. The level of $1,217 will act as the technical resistance, so please keep an eye on this level. The momentum is weak and negative already, so the corrective cycle might extend towards the technical support located at $1,150. Weekly Pivot Points: WR3 - $1,222 WR2 - $1,201 WR1 - $1,190 Weekly Pivot - $1,181 WS1 - $1,169 WS2 - $1,160 WS3 - $1,139 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 09:00 2022-12-20 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/305414

Crypto Industry News: Grayscale Bitcoin Trust CEO Michael Sonnenshein in a letter to investors said that if the trust fails to convert into an exchange-traded fund (ETF), potential moves could include a call for a 20% stake (120,000 BTC) in a $10 billion trust fund. The fund, or rather its shareholders, currently owns approximately 633,000 BTC. A tender offer would in fact mean an appeal to shareholders to get rid of their shares within a strict time limit, effectively returning the value invested in the fund. Grayscale's Bitcoin Trust was originally planned as an exchange-traded alternative to buying BTC. It also intensively applied for the status of an ETF fund, engaging a discount or premium to the net asset value (NAV). The premium or discount describes the difference in value between the shares in the mutual fund and the value of the underlying asset held, in the form of Bitcoin. When the value of the trust shares is higher than the underlying bitcoin, this is considered a bonus. When the value of the stock falls below the underlying bitcoin, it is considered a discount. Currently, the fund is traded at a discount of almost 50% to the underlying asset. Investors have had to consider various options recently as the Grayscale Bitcoin Trust faces a steady decline in value, extending losses to record lows and fueling the fears of already nervous investors. Technical Market Outlook: The Ethereum cryptocurrency has made a new local high at the level of $1,350 and then retraced more than 61% during the corrective cycle. The level of $1,350 is the key short-term technical resistance for bulls, so in order to continue the up move the bulls need to break through it on their way towards $1,400. The bulls were rejected from this level towards the 100 SMA on the H4 time frame chart and are consolidating around the level of $1,200 inside a Triangle pattern. The level of $1,217 will act as the technical resistance, so please keep an eye on this level. The momentum is weak and negative already, so the corrective cycle might extend towards the technical support located at $1,150. Weekly Pivot Points: WR3 - $1,222 WR2 - $1,201 WR1 - $1,190 Weekly Pivot - $1,181 WS1 - $1,169 WS2 - $1,160 WS3 - $1,139 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-12-21 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/305577

The past week has been just as tough for Ethereum as it has been for Bitcoin. The altcoin formed the biggest bearish candle since the beginning of November and made a bearish breakout of the $1,250 support level. The next target for sellers was the $1,200 level. Over the weekend, trading activity subsided, which allowed ETH to move into a consolidation phase and absorb free coin volumes. As a result, as of December 20, the cryptocurrency began testing the $1,200 support level. In case of a downward breakdown of this level, the asset risks going to a retest of $1,000. BTC and ETH It is impossible to consider the price movement of Ethereum at the current stage of the market without comparing it with the dynamics of Bitcoin. Assets move head to head and show similar signals on technical metrics. On Bitcoin, we have seen buying activity leading to a defense of the $16.6k level. We see a similar situation on the Ethereum charts, however, unlike BTC, there is an activation of bears near the $1,220 level. However, in general, the bulls managed to accumulate solid volumes at the very start of the trading day, which happens infrequently, given the strategies of the Asian region. Given the bullish morning, it is likely that with the opening of U.S. markets, the situation will improve. Ethereum on-chain activity As of writing, the sharp activation of buyers is not supported by the growth of on-chain activity for several days. This may indicate manipulation by the market maker, who needs to keep the price above the $1,200 level. At the same time, it is quite acceptable that the on-chain activity of the cryptocurrency will begin to grow with the upward movement of ETH/USD. However, if the price of ETH continues to rise without a parallel increase in activity in the altcoin network, then the altcoin price increase should be considered manipulation and a bull trap. ETH/USD Analysis There is reason to believe that Ethereum will continue its upward movement on December 20. The technical metrics of the asset indicate the emergence of a local upward trend. On the daily chart, there is an increase in sales volumes and reversal of the RSI metric upward. The stochastic oscillator formed a bullish crossover near the green zone and also turned up. These signals confirm the presence of active buyers, and therefore we should expect a retest of resistance levels. The price of ETH/USD is moving towards the $1,220 level, which is a key resistance zone. The bulls have already managed to absorb some of the bearish volumes, but sellers have stepped up near the $1,200 level. On the 2-hour chart, we see a gradual expiration of the bullish potential, which was more likely a reaction to the $1,150 level spike. Moreover, we see a flat RSI and stochastic, which indicates a weakening of the bullish momentum and a gradual decrease in buying activity. Results Ethereum managed to defend the $1,200 mark, but the bears tested the $1,150 level. This triggered a backlash from buyers and buying back bearish volumes, which prevented the price from gaining a foothold below $1,200. However, as of wriritng, the bullish momentum begins to fade, and the advantage gradually shifts to the bears. Despite this, the altcoin has chances for further growth with the corresponding BTC price action and bullish sentiment in the stock market. ETH will not be able to gain a foothold above $1,220 without additional market maker moves and before the opening of U.S. trading. Relevance up to 09:00 2022-12-21 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/330282

Decentralized applications (DApps) have been growing in popularity since 2020, with web3 projects such as Uniswap and Illuvium causing widespread ripples in the markets. Many of these projects are hosted on the Ethereum blockchain, and they run through DApps. In this article, we’ll look at some of the best DApps and web3 projects to use with your Bybit Wallet. What Is a DApp? A decentralized application (DApp) is a software application that runs on a blockchain. Unlike internet-based applications, DApps don't need a centralized database to function. They run on Ethereum, but they also operate on other blockchains that generate smart contracts, such as EOSIO and TRON.  There are many types of DApps. Some include decentralized finance (DeFi), GameFi and NFT.  What Is the Bybit Wallet? Bybit Wallet is a web3-compatible custodial wallet that aims to provide users with easy access to various DApps on the Bybit Web3 Portal.  With the Bybit Wallet, you can discover all sorts of DeFi DApps, NFT collections, GameFi programs and more. To create your own Bybit Wallet, sign up for a Bybit account, and click on Connect Wallet. As a trusted crypto exchange that prides itself on next-level reliability, Bybit aims to provide a seamless experience that doesn’t require you to have a seed phrase. Bybit will hold the private key to your wallet, and with Bybit’s industry-grade security, rest assured that your funds will be kept safe. Some of the benefits of having a Bybit Wallet are: Cross-chain compatibility Private key management Airdrop management (digital assets collected automatically for you on the blockchain) Access to NFT marketplaces Access to DeFi products (swaps, earning and lending) Decentralized identity management After your Bybit Wallet is set up, head over to the Bybit Web3 Portal to view all compatible DApps. As Bybit aims to equip its readers with web3 knowledge, they can click on each DApp and view its respective background information. Bybit also offers guides and tips to read up on for web3. Now that you know how to create your Bybit Wallet, let’s explore the best DApps that will be compatible. Best DeFi DApps to Use With Bybit Wallet MakerDAO MakerDAO was launched on the Ethereum blockchain in 2017. It’s a lending platform on which users can borrow the stablecoin Dai, which is pegged to the U.S. dollar. The key to MakerDAO's success as a lending platform has been its decentralization. As with all DApps, MakerDAO has no borders. People around the world can use it. No one is subject to identity or credit checks, as they would be if they used a lending service through a bank. As its currency, Dai (symbol: DAI) uses cryptocurrencies as collateral, including ETH and any other Ethereum-based asset approved by MKR holders.  The cryptocurrency is locked until a user repays the loan and any incurred fees. Once they do, the collateral, ETH for example, will be released. However, if the ETH price drops below the price at which it was acquired, it will be sold off to pay the Dai that has been borrowed, plus any penalties. These liquidations, or the threat of them, help to stabilize the governance of the MakerDAO system.  Uniswap Uniswap, a decentralized exchange (DEX), allows anyone to participate in the transactions of ERC-20 tokens without the governance of a centralized body or intermediary. It gives permissionless access to financial services, thus staying true to the decentralized ideals of the Ethereum blockchain.  Since Uniswap is based on the Ethereum blockchain using smart contracts, it replaces traditional exchange functions — for instance, order books with their own automated and permissionless liquidity pools executed by algorithms. These liquidity pools are pairs of ETH and ERC-20 tokens exchanged by traders. On Uniswap, users are incentivized to provide liquidity to these pools by being rewarded with a trading fee share. In other words, when users supply liquidity, they’re given liquidity provider (LP) tokens that track how much liquidity they contributed. This method of providing liquidity eliminates the need to rely on market makers. One advantage of using Uniswap, or other DEXs, is that they're inexpensive. They also require minimal maintenance because they’re hosted on a blockchain.  Compound Compound, another borrowing and lending DApp built on the Ethereum blockchain, allows users to borrow and lend cryptocurrency from each other. All transactions are conducted through a smart contract protocol. Lenders can earn interest from cryptocurrencies by adding to the liquidity pool. To do so, users must first connect an Ethereum wallet, such as MetaMask.  Compound tokens are called cTokens. If a user deposits ETH, they’re given cETH in return. Likewise, if a user deposits USDT, they receive cUSDT in return. The cTokens allow users to track the value of the assets they’ve lent, as well as the interest accrued. While interest from each token will fluctuate, depending on the supply and demand of its native cryptocurrency, it’s still more than the interest offered by a traditional savings account. And Compound, like other DApps, doesn’t require identity checks; it also offers lower transaction fees. Moreover, the risks in borrowing are minimal, as assets are overcollateralized (a security measure in which borrowers put forward more assets than is needed as collateral).  Curve Curve is a DEX that quickly became popular. Like Uniswap, it uses automated liquidity pools. But unlike Uniswap, it’s explicitly designed to exchange stablecoins and Bitcoin-backed ERC-20 tokens, such as Wrapped Bitcoin (WBTC). Therefore, its maintenance costs are lower, and so are its fees.  Curve’s interface isn't designed for the mainstream user, as its use is so specific. Hence, not too many investors or traders want or need to exchange stablecoins. Just as with Uniswap, users can earn rewards for adding to the liquidity pool. Curve is also popular with yield farmers because of its high use of stablecoins in yield farming.  Although Curve's creators claim the lack of assets that can be exchanged increases its operating efficiency, the fact that you can only exchange stablecoins (and Bitcoin-backed ERC-20 tokens) can also be a disadvantage, at least from a user's standpoint.  dYdX Unlike other DEXs based on the Ethereum blockchain, dYdX lets you lend, borrow and trade cryptocurrencies on margin. The two types of margin trading are isolated margin and cross-margin.  Besides margin trading, users can lend assets to accrue interest and conduct regular asset trading. Some minimal miner-taker fees apply to trading.  Furthermore, users can earn interest by lending assets to other users. As with other lending DApps, the risk to the lender is low because of over-collateralization. For borrowing, the minimum collateralization ratio on dYdX is 125%. Aave Aave is another borrowing and lending DApp built on the Ethereum blockchain. Its users can lend their assets, and earn interest in the process. To do this, they must connect their Ethereum wallet to the DApp in a process similar to Compound’s.  However, Aave distinguishes itself from the rest through its additional flash loan feature. Practically speaking, these loans are valid for one blockchain transaction, allowing for uncollateralized debt. How is this possible? The transaction is reversible at any time if the loan isn’t repaid. Assets for flash loans are sourced from smart contract pools. The interest rates on Aave for flash loans are at only 0.30%. And flash loans pave the way for arbitrage opportunities. The way it works, traders can get a loan, make an arbitrage trade, then pay back the loan and any accrued interest.  Yearn Finance (YFI) Yearn Finance, launched in July 2020, is one of the newer kids on the block, and one of the most popular DeFi DApps. Yearn is a yield aggregator that automatically searches DeFi DApps on the Ethereum blockchain for the best yield returns. The YFI token saw remarkable price rises after being launched at $739. Over the course of two months, its price shot up rapidly, reaching over $43,000 by September 2020. Analysts chalked it up to the confidence those in the DeFi space have in Yearn Finance, which has an expanding array of products.  Vaults, its main product, enables users to deposit their cryptocurrency and earn yields in return. It employs more complex strategies to get yields than Earn, the first product of Yearn Finance, which is how the term (“yEarn”) was born.  Synthetix  Synthetix allows users to speculate on the price of real-world assets — currencies, stocks and precious metals — as well as other crypto assets, with ERC-20 tokens. The tokens, known as synthetic assets (or “synths), can track the assets' prices. As with MakerDAO, whose users need to lock up ETH as collateral to create its stablecoin, Dai, users on Synthetix need to lock up Synthetic Network Tokens (SNX) as collateral to create the platform's native stablecoin, Synthetic USD (sUSD).  To acquire the real-world information of the assets' prices, Synthetix has teamed up with Chainlink and its oracle technology to provide decentralized price feeds.  Source: 18 Best DApps & Web3 Projects to Use With Bybit Wallet | Bybit Learn

Best NFT Collections/DApps to Use With Bybit Wallet Ethereum Name Service (ENS) Ethereum Name Service (ENS) is a naming system launched in 2017 that runs on the Ethereum blockchain. ENS essentially translates crypto wallet addresses that are usually complex and filled with strings of alphanumeric characters into much simpler, more readable wallet names. ENS domains are built on Ethereum smart contracts which makes them more secure than traditional DNS. As a decentralized, open-source service for the community, ENS focuses on providing a trustworthy domain name for Web3 users of the Ethereum blockchain. Although ENS domains end with .eth, each one is unique, which results in them being NFTs. And since they’re ERC-721-compliant, you can trade these ENS domains on many NFT wallets and marketplaces. This is also one of the reasons why ENS is one of the best DApps — it’s compatible with many wallets, including the Bybit Wallet. Bored Ape Yacht Club  Almost everyone has heard of Bored Ape Yacht Club (BAYC) — regardless of whether they spend time in the crypto space — because that’s how popular this NFT collection is. BAYC is a collection of 10,000 unique NFTs on the Ethereum blockchain, featuring profile pictures of cartoon apes with varying accessories and styles. It’s garnered such a strong fan base that celebrities such as Snoop Dogg, Justin Bieber, Madonna and Paris Hilton are in on it. Additionally, the BAYC team has created an entire ecosystem around the original collection featuring a Mutant Ape Yacht Club (MAYC) collection, Bored Ape Kennel Club (BAKC) collection, Otherdeed as land for their metaverse, and even an ERC20 token known as APE. BAYC NFTs don’t just make good profile pictures, they also double as a membership card to the Yacht Club, granting holders access to exclusive benefits. As of May 2022, BAYC surpassed $2 billion in sales. BAYC remains one of the most popular NFT collections to date, making it one of the best NFT collections to invest in. CryptoPunks CryptoPunks is another highly popular NFT collection built on the Ethereum network. It features 10,000 unique characters in 8-bit style. As one of the first NFT projects on the Ethereum network, CryptoPunks grabbed the attention of investors who wanted to be part of the hype. Furthermore, it was CryptoPunks that introduced the concept of ERC-721 tokens — a standard that dictates each token is unique and non-interchangeable — to the world.  Due to the NFTs’ singularity, demand for them quickly exceeded supply, driving prices up. This resulted in many CryptoPunks holders making windfall profits from trading their NFTs. CryptoPunks gained even more attention following its collaboration with Tiffany & Co. in August 2022, with the latter turning the NFT collection into physical pieces of jewelry for crypto enthusiasts to purchase. A custom collection of 250 NFTs in this NFTiff collection, priced at 30 ETH each, sold out within 22 minutes. Successful buyers could redeem their NFT for a physical pendant and chain. Although they launched back in 2017, CryptoPunks NFTs remain in demand and high in value, and are still one of the best NFT collections to consider. Azuki Azuki is a collection of anime-themed NFTs launched in January 2022 that quickly amassed $300 million in sales by February 2022. Just like BAYC, Azuki NFTs grant their holders access to an exclusive metaverse called The Garden. This virtual world is where members can look forward to streetwear collaborations, NFT drops, live events and other activities. Azuki’s popularity is also attributed to its strong relationship with anime, which has gained increasing international attention over the years. As mentioned, Azuki has plans to release streetwear collaborations. Azuki NFT holders can purchase Azuki clothing, merchandise and accessories. This ties in well with existing anime fans, who love purchasing anime collectibles. Furthermore, Azuki has a strong focus on community ownership. It believes in maintaining a vibrant community for its project to thrive. As such, it provides well-moderated online social channels for fans to interact and discuss the project, to which they all belong. With its art style, real-world merchandise and emphasis on community ownership, Azuki remains one of the most popular NFT DApps in the crypto market. OpenSea OpenSea is the largest peer-to-peer NFT marketplace in the world. The platform was launched in 2017 and allowed users to exclusively buy and sell rare digital collectibles in a quick and trustless manner. The NFT marketplace managed to close 2020 with roughly $21 million in trade volume but was quickly surpassed within the first two months of 2021, soaring to over $14 billion in the next year. Additionally, OpenSea is integrated with multiple blockchains like Ethereum, Polygon, Solana and Klaytn which could eventually drive even more volume toward the NFT marketplace. With the launch of Seaport, an open-source smart contract created for OpenSea and NFT fanatics, users can now transact NFTs in bundles even if they are in different token standards (ERC-20, ERC-721, etc). Listings may also choose to support partial fills of offered items or even opt for auction mechanics such as English and Dutch auctions. Despite the emergence of other NFT markets after OpenSea, the platform continues to hold the title as the greatest NFT marketplace due to its unrivaled trading volume, overall revenue and sheer number of users on the platform. OpenSea will soon be compatible to use with Bybit Wallet. Blur Blur is a brand new NFT marketplace that rose to fame after raising $11 million from renowned investors such as Paradigm. The newly launched platform saw an all-time high volume of $18.8 million in 24 hours within just two months of its release. The team behind Blur is focused on targeting professional NFT traders and has created a different mechanism compared to other NFT marketplaces. Blur allows traders to set their own royalties easily and does not charge any fees when transacting on the platform. This is great for traders as they get to earn a portion of every sale transacted even after selling the initial NFT while avoiding platform fees from eating into their profits. The NFT marketplace also has an aggregator that allows you to analyze and purchase a group of NFTs at once from different marketplaces. This allows professional NFT traders to sweep the floor of any collection with a single click rather than buying them up individually on various platforms. Apart from saving time and effort, the aggregator feature will also save them a huge amount of fees as individual purchases come with many hidden costs on top of the gas fees they would have to pay per transaction. Blur has the ability to expand its user base as NFTs become more widely adopted. The team will also need to find a way to maintain its commitment to NFT traders while making its platform more user-friendly for a larger audience in order to challenge OpenSea in the future. As with OpenSea, Blur is an NFT DApp that will soon be compatible to use with Bybit Wallet. LooksRare LooksRare is one of many NFT marketplaces that run solely on the Ethereum blockchain. Launched in 2022, LooksRare prides itself as a “community-first” NFT marketplace that actively rewards platform users and token stakers with its native token to incentivize participation on the platform. Since then, LooksRare has managed to gain market share on OpenSea and is averaging around half of its competitors daily volume, amassing more than $26 billion in total trading volume. This was due to several factors: lower fees, a highly incentivized reward system and revenue sharing which allows the NFT marketplace to stand out and differentiate itself from its competitors. While LooksRare currently does not have an NFT minting function, the platform does offer other interesting features such as the ability to purchase entire collections, purchasing an NFT with specific traits instead of filtering them out, and the option to cancel multiple open orders in a single transaction. With such an impressive entrance into the NFT space and a solid reward system, LooksRare has been able to scale massively in such a short period. It is worth keeping a lookout as the platform has huge potential to grow, filling the gaps created by OpenSea and maybe even outperforming them one day. Users can expect to use their Bybit Wallet with LooksRare soon. NFTfi NFTfi is a decentralized marketplace for users to make the most out of their NFTs by collateralizing them to finance transactions through liquid assets. Due to the illiquid nature of NFTs, the team has combined the idea of DeFi and NFTs to increase the liquidity among NFT traders while trying to attract new users into the space. Following in the steps of popular lending platforms like Aave and MakerDAO, NFTfi allows for NFT lenders to leverage on their collections to earn yield. Borrowers can also take up loans and borrow ETH or DAI by putting up their NFT as collateral. NFT lending provides the much-needed liquidity to increase activities and volume in the ecosystem. Additionally, NFTfi provides other features such as NFT fractionalization and NFT derivatives. NFT fractionalization is the process of sharing ownership of an NFT among thousands or millions of users, allowing retail investors to gain exposure to blue-chip NFT collections like BAYC or CryptoPunks. On the other hand, NFT derivatives represent tradable contracts that provide leverage and let users place directional bets on future NFT prices. With these new instruments offered by the platform, NFTfi remains one of the biggest NFT lending platforms in the space that has helped to unlock a whole new world of liquidity for NFTs for existing and future users. Do take note that while NFTfi cannot be used with Bybit Wallet at the moment, integration will soon be available. Source: 18 Best DApps & Web3 Projects to Use With Bybit Wallet | Bybit Learn

Crypto Industry News: Despite the ongoing cryptocurrency crash, the number of "dead" coins has decreased 3 times in 2022 compared to 2021. A new study has revealed the number of cryptocurrencies that have fallen short of expectations since their launch in 2022. The CoinGecko website counted about 950 cryptocurrencies in 2022 that were considered "dead" or "failed projects", according to a study published on November 29 this year. Determining the number of dead cryptocurrencies, the study highlighted that it reviewed cryptocurrencies that may have been off-site due to lack of trading activity in the past two months. At the same time, tokens were declared dead after being tagged for fraud or deactivation requests. The study shows that the number of dead coins in 2022 is significantly lower than in 2021. In 2021, over 3,000 such cases were counted, and this year "only" 951. The study found that the large number of dead coins in 2021 can be linked to a large influx of Doge and Shiba coins. It is worth noting that most "meme coins" had no significant value to the anonymous developers, and also required more involvement in their development. Technical Market Outlook: The Ethereum cryptocurrency has retraced 38% of the last wave down on the H4 time frame chart and is currently trading close to the level of $1,227. The 100 SMA is seen at the level of $1,246, so bulls need to break through this level in order to continue the bounce towards the technical resistance seen at $1,278. The intraday volatility is very limited. The key short-term technical support is seen at the level of $1,150. Weekly Pivot Points: WR3 - $1,222 WR2 - $1,201 WR1 - $1,190 Weekly Pivot - $1,181 WS1 - $1,169 WS2 - $1,160 WS3 - $1,139 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 10:00 2022-12-23 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/305976

ETH/USD rebounded after its sell-off. The rebound was natural as the price could test and retest the immediate resistance levels before dropping deeper. It's trading at 1,222 at the time of writing below yesterday's high of 1,236. In the last 7 days, ETH/USD is down by 4.21% but it's up by 0.85% in the last 24 hours. BTC/USD's rebound helped the price of Ethereum to rebound as well. ETH/USD Natural Growth! Technically, the rate plunged after taking out the dynamic support represented by the uptrend line. Staying below the pivot point of 1,230 could announce a new sell-off. On the contrary, a bullish closure above this immediate obstacle could announce further growth in the short term. The descending pitchfork's upper median line (uml) represents a dynamic resistance. Testing and retesting this line could announce a new downside movement. ETH/USD could extend its downside movement as long as it stays below this line. ETH/USD Forecast! False breakouts above the weekly pivot point could announce a new sell-off. This could represent the first short opportunity. As long as it stays under the upper median line (uml), the rate could still be attracted by the median line (ml) Relevance up to 09:00 2022-12-24 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306139

Crypto Industry News: The world of cryptocurrency has been informed that the court, specifically the US justice of the peace, Gabriel Gorenstein, approved the release of Sam Bankman-Fried on bail of $ 250 million. Samuel will be placed under house arrest and will live with his parents in their home in California. According to the information, the possibility of bail and being under house arrest was a condition of Sam's voluntary extradition, which he made a deal with federal prosecutors. On release, the SBF agrees to abide by 'strict' rules, namely not being able to hold a passport (very surprising), agreeing to undergo regular mental health checks and must wear an electronic monitoring device. What's more, he will also not be able to open new lines of credit during this time. Following Samuel's appearance in a Manhattan court yesterday, where he was charged with one of the largest financial frauds in US history, the SBF pleaded not guilty and completely denied all charges against him. Read next: According To The Economist Intelligence Unit (EIU), Cities In Europe And Canada Are The Best To Live In| FXMAG.COM Technical Market Outlook: The Ethereum cryptocurrency has retraced 38% of the last wave down on the H4 time frame chart and is currently trading close to the level of $1,227. The 100 SMA is seen at the level of $1,246, so bulls need to break through this level in order to continue the bounce towards the technical resistance seen at $1,278. The intraday volatility is very limited. The key short-term technical support is seen at the level of $1,150. On the higher time frame, like weekly, there is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. Weekly Pivot Points: WR3 - $1,222 WR2 - $1,201 WR1 - $1,190 Weekly Pivot - $1,181 WS1 - $1,169 WS2 - $1,160 WS3 - $1,139 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-12-24 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306144

Crypto Industry News: Jair Bolsonaro, Brazil's president, who is due to leave office on December 31, has signed a bill to legalize the use of cryptocurrencies as a payment method in the country. In a December 22 publication of the official journal of the Federal Government of Brazil, Bolsonaro's office reported that the president had signed Law 14,478 after being approved by the Chamber of Deputies. The Legislature sent the bill to the president's desk on November 29 as the final step to recognize crypto payments. Under the bill, residents of Brazil will not be able to use cryptocurrencies such as Bitcoin as legal tender in the country, as is the case in El Salvador. However, the newly passed law includes many digital currencies as part of the definition of legal payment methods in Brazil. It also establishes a licensing system for virtual asset service providers and sets out penalties for fraud with digital assets. Bolsonaro's announcement did not suggest which federal agency might be responsible for overseeing crypto payments. However, as in the United States, digital assets considered securities fall under the regulatory umbrella of the Brazilian Securities and Exchange Commission. The law also included provisions, likely introduced in response to FTX's demise, requiring exchanges to distinguish between user and company assets. The cryptocurrency law will come into force in 180 days, probably in June 2023. Bolsonaro is expected to leave office in a few days, after which Luiz Inacio Lula da Silva will assume the presidency on January 1. Luiz was the president of Brazil from 2003 to 2010 and has previously spoken out in favor of cryptocurrency and blockchain adoption. Technical Market Outlook: The Ethereum cryptocurrency has retraced 38% of the last wave down on the H4 time frame chart and is currently trading close to this level, consolidating the recent gains. The 100 SMA is seen at the level of $1,246, so bulls need to break through this level in order to continue the bounce towards the technical resistance seen at $1,278. The intraday volatility is very limited. The key short-term technical support is seen at the level of $1,150. On the higher time frame, like weekly, there is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. Weekly Pivot Points: WR3 - $1,258 WR2 - $1,240 WR1 - $1,230 Weekly Pivot - $1,221 WS1 - $1,212 WS2 - $1,201 WS3 - $1,184 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 07:00 2022-12-28 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306402

On the 4-hour TF, it is evident that bitcoin has deviated below the ascending trend line, but overall, since the most recent collapse, it has been mostly moving sideways, which is exactly what we anticipated. Remember that the "collapse-flat-collapse" trading strategy will be used in 2022 when bitcoin is traded. As a result, despite crossing over the trend line, a long flat can now be seen. There are additional unfavorable projections from reputable market participants in addition to the statements made by JP Morgan, which we discussed in the previous article. Remember that individuals like Mark Cuban have a personal stake in the success of the first cryptocurrency ever created, so it stands to reason that they will exert every effort to increase demand. The rise in demand for bitcoin will determine how much it grows in the future. No demand, no expansion. Kuban's viewpoint is therefore undoubtedly very interesting, but we have grown accustomed to bitcoin owners only predicting the currency's future growth. I have a valid concern: why would Cuban and others advise someone to purchase a good that will "unquestionably increase in value"? Wouldn't it be simpler and better to purchase every coin available yourself to make the most money later? The truth is that for bitcoin to experience explosive growth, as many investors as possible should purchase it. Now, nobody wants to purchase it. The crypto industry will need some time to fully recover from the collapse of the FTX exchange, according to the analytical firm CryptoCompare. The company's experts also claimed that numerous other businesses were linked to the bankrupt exchange through loans and the FTT token, which is now, of course, worthless. As a result, CryptoCompare concludes that there may be new bankruptcies in 2023. Additional failures of significant market participants might cause "bitcoin" and other cryptocurrencies to fall even further. Therefore, even the internal fundamental background does not justify purchasing bitcoin. This is in addition to the general fundamental background that is currently working against cryptocurrencies in the face of the Fed and other Central Banks. The decline, in our opinion, will eventually continue. Anyhow, there isn't even a single buy signal at the moment. The first cryptocurrency ever traded with very little volatility and only moved sideways over the past few days. The quotes for "bitcoin" very quickly completed the formation of an upward trend on the 4-hour time frame and consolidated below the trend line. As a result, we are currently anticipating a new cryptocurrency drop with a target of $12,426. It might take place right now or in a few months. There are still no indications that bitcoin will experience rapid growth in the near future.   Relevance up to 14:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/330915

Crypto Industry News: Big institutional investors continue to largely stay away from the crypto market as asset class volatility challenges money managers, Jared Gross, head of institutional portfolio strategy at JPMorgan Asset Management, said in an interview: "As an asset class, cryptocurrencies are virtually non-existent for most large institutional investors. [...] Volatility is too high, no internal return to point to makes it very difficult," noted Gross. Gross believes that most institutional investors "breathed a sigh of relief that they did not jump into this market", which is unlikely to happen in the near future. The bear market also put an end to the idea that Bitcoin could be a form of digital gold or serve as a hedge against inflation, Gross noted, stating that it is obvious that this is not the case. The year coming to an end was a period of dramatic declines in the cryptocurrency market. Bitcoin fell from $47,700 in January to below $17,000 at the end of December, while Ethereum fell from $3,700 to $1,200 over the same period, and the total cryptocurrency market capitalization fell from $2.2 trillion to nearly $810 billion. Technical Market Outlook: The Ethereum cryptocurrency has retraced 38% of the last wave down on the H4 time frame chart and is currently trading close to this level, consolidating the recent gains. The 100 SMA is seen at the level of $1,246, so bulls need to break through this level in order to continue the bounce towards the technical resistance seen at $1,278. The intraday volatility is very limited., nevertheless the key short-term technical support is seen at the level of $1,150 and if the level of $1,183 is broken, this will be the next target for bears. Weekly Pivot Points: WR3 - $1,258 WR2 - $1,240 WR1 - $1,230 Weekly Pivot - $1,221 WS1 - $1,212 WS2 - $1,201 WS3 - $1,184 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 10:00 2022-12-29 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306569

Crypto Industry News: Dmitry Medvedev, one of Russia's most important politicians, believes that the traditional fiats - the US dollar and the Euro - will lose their importance. The reverse process will take place in the case of digital currencies. Dmitry Medvedev - a Russian politician who was the country's president in 2008-2012 - believes that the International Monetary Fund (IMF) and the World Bank may collapse in 2023. He suggested that such events could reduce the impact of the Euro and dollar and increase the use of digital currencies. Tron founder Justin Sun agreed with Medvedev's "revelatory comment". He also maintains that China's cryptocurrency adoption is gradually increasing and that "the best is yet to come." Medvedev also claims that the Bretton Woods system, which is the foundation of US power, may eventually be destroyed. "The Bretton Woods money management system will collapse, leading to the collapse of the IMF and the World Bank. The Euro and dollar will cease to circulate as global reserve currencies. Digital fiat currencies will be used instead," he said. Technical Market Outlook: The Ethereum cryptocurrency has retraced 38% of the last wave down on the H4 time frame chart and is currently trading close to this level, consolidating the recent gains. The 100 SMA is seen at the level of $1,246, so bulls need to break through this level in order to continue the bounce towards the technical resistance seen at $1,278. The intraday volatility is very limited., nevertheless the key short-term technical support is seen at the level of $1,150 and if the level of $1,183 is broken, this will be the next target for bears. Weekly Pivot Points: WR3 - $1,258 WR2 - $1,240 WR1 - $1,230 Weekly Pivot - $1,221 WS1 - $1,212 WS2 - $1,201 WS3 - $1,184 Read next: The US Will Require PCR Testing For Travelers From China, BRF Agree To Pay $111 Million To The Government| FXMAG.COM Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 09:00 2022-12-30 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306735

Ethereum is trading in the red at 1,192 on the H1 at the time of writing. You knew from my previous analysis that the price developed a bearish pattern. Still, the altcoin moved somehow sideways in the short term, so we'll have to wait for a fresh opportunity. ETH/USD is down by 0.30% in the last hour and by 2.26% in the last 7 days. It tried to rebound in the short term only because BTC/USD bounced back. ETH/USD Rising Wedge Violated! As you can see on the H1 chart, ETH/USD escaped from the Rising Wedge pattern but it found support on the 1,182 former low. It retested the weekly pivot point of 1,201 which stands as an upside obstacle. Technically, as long as it stays below the upper median line (uml) of the major descending pitchfork, ETH/USD could drop deeper as the bias remains bearish. ETH/USD Forecast! Ethereum seems undecided in the short term. Still, a valid breakdown below 1,182 could open the door for more declines.   Relevance up to 07:00 2022-12-31 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306845

Crypto Industry News: Microstrategy currently holds approximately 132,500 bitcoins. In December, the company bought another batch of cryptocurrencies. At the same time, however, it turned out that it had sold some digital assets for the first time. Michael Saylor, founder and CEO of the company, tweeted: "MicroStrategy has increased its bitcoin holdings by approximately 2,500 BTC. As of 12/27/22, MicroStrategy has approximately 132,500 bitcoins purchased for approximately $4.03 billion at an average price of approximately $30,397 per bitcoin." In its filing with the U.S. Securities and Exchange Commission (SEC), Microstrategy explained that 2,500 coins were acquired between November 1 and December 24 by its subsidiary Macrostrategy. The subsidiary purchased approximately 2,395 BTC at an average price of $17,871 per coin. This happened between November 1 and December 21. She then sold around 704 BTC at $16,776 per BTC (this happened on December 22). On December 24, she bought around 810 BTC at $16,845 a coin. It is worth noting that the company sold a batch of BTC for the first time. However, it is not about exiting the market, but about "generating tax benefits". Everything is to be based on "current federal income tax rules." Michael Saylor, the company's founder, said in an interview last week that "the most positive thing this year" is that bitcoin has been recognized as an "institutional grade digital asset." Added to this is "the clarity that there is one cryptocurrency asset that is a digital commodity." He noted that both the SEC chairman and the chairman of the Commodity Futures Trading Commission (CFTC) have confirmed that bitcoin is a commodity. Technical Market Outlook: The Ethereum cryptocurrency has retraced 38% of the last wave down on the H4 time frame chart and is currently trading close to this level, consolidating the recent gains and testing the intraday supports seen at $1,180. The 100 SMA is seen at the level of $1,246, so bulls need to break through this level in order to continue the bounce towards the technical resistance seen at $1,278. The intraday volatility is very limited., nevertheless the key short-term technical support is seen at the level of $1,150 and if the level of $1,183 is broken, this will be the next target for bears. Weekly Pivot Points: WR3 - $1,258 WR2 - $1,240 WR1 - $1,230 Weekly Pivot - $1,221 WS1 - $1,212 WS2 - $1,201 WS3 - $1,184 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-12-31 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306859

Macro and Overall Risk Sentiment In a week without major economic data releases, the outlook for U.S. equities remains dim as concerns over a possible recession in 2023 and declining earning projections from major index heavyweights dampened investors’ sentiment. It’s noteworthy that the focus in the mainstream media has shifted from inflation worries to recession woes.  Interestingly, the broader cryptocurrency market has experienced extraordinarily low volatility as equities experience large price swings, with BTCUSDT and ETHUSDT pairs ending the week with decreases of 1.3% and 1.7%, respectively.   Learn more on Binance.com BTCUSDT Perpetual Bitcoin broke down from a consolidation channel that has formed since November and has since moved in a narrow range between $16.5k and $17k. A bearish pennant, which features a shoot-down followed by an ascending triangle, has been forming after the breakdown. However, there are still bright spots indicating that a downside is limited as professional traders have turned cautiously optimistic. With open interests in terms of BTC at a stable level, the funding rate weighted by open interests has persistently remained positive, indicating an absence of widespread bearish bets on the largest cryptocurrency. Furthermore, the daily basis between the BTC spot and the nearest quarterly futures has flipped to positive, changing from a deep backwardation to a contango, painting a positive near-term picture. The long-short ratio of top trader accounts in centralized exchanges showed the bull has persistently taken the upper hand, suggesting an improved trader sentiment.  Check Out the Latest Prices, Charts, and Data for BTCUSDT! ETHUSDT Perpetual A downward trend has been observed in Ether’s 4-hour chart, facing an immediate resistance level at a 20-day EMA of $1,218. From the technical point of view, RSI remained within a neutral area on the daily chart and the Average Directional Movement Index, a technical indicator that measures the overall strength of a trend, remained below 20 in the past week, indicating a lack of direction in the market.  The bright spots are a stable and positive reading of the perpetual funding rate, while the daily basis of Ether between spots and the nearest quarterly futures is close to the neutral level in centralized exchanges. Similar to BTC, Ether has not shown signs of a trend reversal, but the downside may be limited.  Check Out the Latest Prices, Charts, and Data for ETHUSDT! Market Movers (Week-on-Week) BITUSDT (+16.5%) LDOUSDT (+7.2%) ICPUSDT (+5.6%) XCNUSDT (-32.9%) LPTUSDT (-21.7%) WAVESUSDT (-20.2%) New Derivatives Listings — What’s New on Bybit? Trade with up to 25x leverage on our new trading pairs: MAGICUSDT BTCUSD0630 ETHUSD0630 Source: Bybit Blog | Market Turns Cautiously Optimistic After BTC and ETH’s Breakdowns

Crypto Industry News: Reserve Bank of India, India's central bank, announced on December 29 in its report that cryptocurrencies are highly volatile and show a high correlation with equities in a way that casts doubt on claims that virtual digital assets are an alternative source of value due to their alleged inflationary gains. India's central bank has warned that policymakers around the world are concerned that the cryptocurrency sector could become more aligned with mainstream finance and "divert attention away from traditional finance with a wider impact on the economy." The Central Bank of India is one of the most vocal critics of the cryptocurrency industry. Last week, RBI Governor Shaktikanta Das warned that private cryptocurrencies will cause another financial crisis if their use is not banned. Technical Market Outlook: The Ethereum cryptocurrency has retraced 38% of the last wave down on the H4 time frame chart and is currently trading close to this level. The 100 SMA is seen at the level of $1,246, so bulls need to break through this level in order to continue the bounce towards the technical resistance seen at $1,278. The key short-term technical support is seen at the level of $1,183. Please notice the spike in the momentum indicator on the H4 time frame chart to the positive territory. Read next: Walmart Has Ambitions To Become An E-Commerce Leader| FXMAG.COM Weekly Pivot Points: WR3 - $1,258 WR2 - $1,232 WR1 - $1,220 Weekly Pivot - $1,205 WS1 - $1,191 WS2 - $1,178 WS3 - $1,152 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2023-01-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306990

Crypto Industry News: The uncertainty caused by the decline in the cryptocurrency market and a series of turbulent bankruptcies is also spreading to the Formula 1 industry, one of the most important cryptocurrency partners. The declining value of NFTs (Non Fungible Tokens) in F1 has caused Ferrari, one of the well-established F1 teams, to drop support from its crypto-sponsor Velas. By announcing on its website that it had removed Velas from its partner list, Ferrari became the second F1 team after Mercedes to terminate its sponsorship deal with the cryptocurrency company. Ferrari's removal of the cryptocurrency brand Velas from its list of partners marks another blow to the cryptocurrency industry, which continues to lose ground in F1. The Italian team announced a partnership with Velas at the end of 2021, at a time when F1 teams seemed eager to make deals with cryptocurrency companies. However, the landscape has changed dramatically over the last twelve months and cryptocurrencies have significantly lost value in the eyes of Formula 1 teams. Technical Market Outlook: The Ethereum cryptocurrency has retraced 50% of the last wave down on the H4 time frame chart and is currently trading above to this level. The technical resistance is seen at the level of $1,259, so bulls need to break through this level in order to continue the bounce towards the technical resistance seen at $1,278 and 61% Fibonacci retracement level located at $1,274. The key short-term technical support is seen at the level of $1,183. Please notice the spike in the momentum indicator on the H4 time frame chart to the extremely overbought market territory. Weekly Pivot Points: WR3 - $1,258 WR2 - $1,232 WR1 - $1,220 Weekly Pivot - $1,205 WS1 - $1,191 WS2 - $1,178 WS3 - $1,152 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 09:00 2023-01-05 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/307298

Daily Top Mover — Serum (SRM) Major U.S. equity indices started the first 2023 trading session on a sour note. Tesla’s stocks plunged by 12.24% in the wake of poor December delivery numbers, dragging down the Nasdaq Composite index to round off the day with a -0.76% return. Meanwhile, the broader cryptocurrency market behaved unimpressively, with Bitcoin and Ether both down 0,05%, in the past 24 hours. The top mover for today, SRM, which registered a 24-hour return of 30.9% as of the time of writing, has outperformed the market, likely due to FTX’s unfolding saga and the praise from Vitalk on Solana.  Learn more on Binance.com SRM is the native token of the decentralized exchange Serum built on Solana. Before FTX’s collapse, Serum was once the largest decentralized exchange on Solana, whereas other DeFi protocols lean on its liquidity to build innovative products. Serum was backed by Sam Bankman-Fried, and therefore leading to the plunge of SRM following FTX’s fallout. The outperformance of SRM overnight was likely due to revived hope that the FTX situation was less serious than claimed by current CEO John Ray III, where $3.5 billion worth of FTX assets may be safely kept by Bahamian authorities. However, as an investment project, Serum is not a creditor to FTX’s bankruptcy, and positive news from FTX’s unfolding saga is unlikely to improve Serum’s fundamentals.  What’s more, SRM surged, together with other tokens in Solana’s ecosystem, in the wake of praise from Vitalik on the Solana developer community in the past weekend. However, this is unlikely to continue in the long term as the Solana community is working on a Serum fork, OpenBook, to replace the original Serum project.  Check Out the Latest Prices, Charts, and Data for SRM/USDT! Talk of the Town ( Source: https://www.hd.square-enix.com/eng/news/2023/html/a_new_years_letter_from_the_president_3.html ) Amidst the current bearish conditions in the crypto scene, popular Japanese firm Square Enix remains focused on the development of multiple blockchain games. In November 2022, the company behind popular Web2 franchises such as Final Fantasy and Dragon Quest announced its first Web3 game in the form of a digital collectible art project, Symbiogenesis, where players will decide whether to share or keep unique data and attempt to uncover a story. The game is set to be launched in Spring 2023. Meanwhile, President of Square Enix, Yosuke Matsuda, revealed in this annual 2023 letter that the company is preparing to release more Web3 project titles this year. Matsuda also emphasized his confidence in Web3, stating his hopes “that blockchain games will transition to a new stage of growth in 2023”.   Read next:Exxon And Chevron Abandon The Global Market And Focus On The Americas| FXMAG.COM Check out what else is buzzing in the crypto scene today: Gemini accuses DCG’s Barry Silbert over frozen funds on Germini Earn. (Link) Italy approves 26% tax on cryptocurrency gains. (Link) The Bahamas Securities Commission claims the current FTX CEO has made “material misstatements” when alleging collusion between FTX and the Bahamian government. (Link) SBF pleads ‘Not Guilty’ to all Charges as Judge grants redaction of bail signers’ identities. (Link) December was 2022’s lowest month in terms of hacking proceeds. (Link) Source: Bybit Blog | FTX’s Unfolding Saga Buoys SRM Token; Square Enix Continues Focus on Web3  

Crypto Industry News: The World Economic Forum (WEF) has reviewed what happened in the cryptocurrency market in 2022. In addition, it has prepared forecasts for this industry. Dante Disparte, CSO of Circle, in an article published for WEF, states that while 2022 was a time of crisis for cryptocurrencies, the building blocks of the industry will continue to be "integral parts" of the modern economic toolkit. He added that "[blockchain] experimentation at the core of financial services continues unabated." It also encourages you to watch "what the big banks and financial services companies do, not [listen to] what they say." He cites as an example JPMorgan, a company that has publicly gone from explicitly opposing cryptocurrencies and blockchain to adopting the technology in several of its experimental products and offering cryptocurrencies to select customers. Disparte compares cryptocurrencies to other ubiquitous technologies today, such as the internet and email, which have also been used for illicit purposes and criminal activities. However, he emphasized that it is crucial to pay attention to the fact that people with bad intentions are behind all this, not the technology itself. It is important to "compensate for the harmful effects [of cryptocurrencies] by putting the technology in the hands of responsible actors and encouraging its responsible use." The author of the article believes that cryptocurrencies, no matter what, are still part of the financial world, and while regulation of this market is a necessity, countries that are able to provide them while maintaining a competitive approach will shape the future of the industry. Disparte concludes that cryptocurrency technologies will continue to be mainstreamed. Technical Market Outlook: The Ethereum cryptocurrency has retraced 61% of the last wave down on the H4 time frame chart and is currently trading below this level after the Bearish Engulfing candlestick pattern was made. The technical resistance is seen at the level of $1,259, so bulls need to break through this level in order to continue the bounce towards the technical resistance seen at $1,278. The key short-term technical support is seen at the level of $1,183. Please notice the spike in the momentum indicator on the H4 time frame chart to the extremely overbought market territory. Weekly Pivot Points: WR3 - $1,258 WR2 - $1,232 WR1 - $1,220 Weekly Pivot - $1,205 WS1 - $1,191 WS2 - $1,178 WS3 - $1,152 Read next:Samsung Suffers From Weakening Demand, Amazon Will Increase The Total Number Of Layoffs To Over 18,000| FXMAG.COM Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 10:00 2023-01-06 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/307484

Friday’s jobs data in the US, and more specifically, the market reaction to Friday’s jobs data helped stock markets to record their best boost since more than a month on Friday. Friday’s jobs report However, Friday’s jobs report was rather… mixed, and spurred a lot of discussions and debates regarding whether the data was soft enough to convince the Federal Reserve (Fed) officials that the inflation battle is over, or it was strong enough to make them further scratch their heads. US markets US markets, however, gave a strong positive reaction to Friday’s jobs data. Both the US 2 and 10-year yields fell more than 4% after the data, pulling the US dollar index lower along with them. The S&P500 jumped around 2.30%, while Nasdaq 100 rallied near 2.80%. Gold Gold reached our $1880 per ounce medium term target, boosted by lower US yields, which made the opportunity cost of holding the non-interest-bearing gold lower, and increased appetite. Fed, US CPI data and Jerome Powell speach Activity on Fed funds futures now price in a 25bp hike at the next FOMC meeting at around 75%, but the Fed has not hesitated to disappoint markets since last year to cool down the optimism and send the stocks to turmoil. So the dovish pricing in Fed expectations make the latest gains a bit bitter-sweet, as the slightest news, or hints that the Fed would not step back from its hawkish tone could vanish the latest rally. So, this week’s US inflation data will be key in either giving the bulls a further boost or bringing back the bears with revenge. Jerome Powell will speak on Tuesday, and the US CPI data will be released on Thursday. On the corporate calendar, the earnings season will kick off with big bank earnings due Friday. Watch the full episode to find out more! 0:00 Intro 0:32 Strong NFP, soft wages… US jobs data pleased investors 03:36 But did it please the Fed? 4:59 Thu’s US inflation data is crucial for market mood 6:02 European inflation fell, but… 7:21 Crude oil flirts with $75pb 8:18 Bitcoin, Ethereum advance 8:36 Earnings season kicks off ! Ipek Ozkardeskaya  Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #US #jobs #NFP #wages #unemployment #inflation #data #dovish #Fed #expectations #USD #EUR #XAU #Bitcoin #Ethereum #earnings #season #banks #JPMorgan #WellsFargo #Citigroup #Blackrock #Tilray #BBBY #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH

Latest U.S. jobs data released; crypto performed well last week. Ethereum’s Shanghai upgrade public testnet planned for Feb. Hong Kong gearing up to provide retail virtual asset trading services Weekly Market Index Last week’s crypto market prices rose slightly by +3.98%. Volume was flat at -0.53% and volatility increased by +36.36%. Weekly Performance Bitcoin (BTC) and Ethereum (ETH) were up +3.4% and +8.1% in the past seven days, respectively. Many cryptocurrencies have been gaining over the last several days after the latest U.S. jobs data released last Friday sparked a Wall Street rally. News Highlights Many cryptocurrencies have been gaining over the past several days after the latest U.S. jobs data release sparked a Wall Street rally. Non-farm payrolls rose by 223,000 jobs in December, which was higher than expectations, but wages grew less than expected. Financial services providers in Hong Kong are already taking the first steps to provide virtual asset trading services to retail investors. Brokers and fund managers have reportedly asked for advice on licensing requirements ahead of the new virtual asset trading legislation. Ethereum developers aim to release a public test network for the Shanghai upgrade by the end of February. Australia overtakes El Salvador to become the fourth largest crypto ATM hub. Australia records 216 ATMs stepping into the year 2023.     2022 Year Review & 2023 Year Ahead: 2022 has been a ride for the crypto industry. In this report, we curate the top ten crypto events and trends of 2022, followed by our outlook for 2023. Decentralised Social Networks: An Overview: Decentralised social networks aim to enable participants to take back ownership of and better monetise their content and data. We explore the project landscape. Social Graph and Digital Identity in Web3: Relationships and identities are key elements that make up social networks. In this report, we put a spotlight on the roles that decentralised social graphs and digital identity play in Web3 social.         2022 Year Review & 2023 Year Ahead: 2022 has been a ride for the crypto industry. In this report, we curate the top ten crypto events and trends of 2022, followed by our outlook for 2023.   Decentralised Social Networks: An Overview: Decentralised social networks aim to enable participants to take back ownership of and better monetise their content and data. We explore the project landscape.   Social Graph and Digital Identity in Web3: Relationships and identities are key elements that make up social networks. In this report, we put a spotlight on the roles that decentralised social graphs and digital identity play in Web3 social. Catalyst Calendar Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties.

The starting point of the thaw in the market can be considered the first of January, when Bitcoin began an upward movement. In 11 days, the cryptocurrency reached the $17.4k level and confidently consolidated above the $17k psychological level. Among the nearest targets of the asset are the levels of $17.8k and $18k. Despite the positive developments, the daily chart of the cryptocurrency shows an uncertain price growth at low volumes. A similar situation was observed in mid-December, when the cryptocurrency made a false breakout of the $18k level and began to decline. However, judging by the latest news, the current local upward trend differs from the price movement at the end of 2022. Trading volumes in the cryptocurrency market have soared by 90% over the past day. The indicator reached the usual levels in the region of $30–35 billion. Recall that during the period of protracted consolidation, the volumes did not exceed $10 billion. Another positive signal was another purchase of cryptocurrencies from large international companies. Google purchased large volumes of Solana at $10 and was one of the top 13 owners of the asset. In addition, Morgan Stanley began actively buying shares of Grayscale Bitcoin Trust. As of January 11, the firm had invested more than $3.5 million in crypto assets. Gradually we move on to neutral news, namely the long-awaited speech of Federal Reserve Chairman Jerome Powell. According to the state of the market, we can conclude that the official was cautious in his remarks and did not provoke volatility spikes. Powell's key thesis was the acknowledgement that the global economy has become much more resilient. Read next: Pietro Beccari Will Be The Louis Vuitton’s CEO, Departures Several Top Executives At Rivian| FXMAG.COM This statement can be seen as a homage to the labor market and an effective inflation policy. The next key event for Bitcoin and the cryptocurrency market will be the publication of inflation reports. Data are expected on Thursday, and analysts predict a slowdown in inflation to 6.5% from the current positions at 7.1%. Given the established dynamics of slowing inflation, we can assume that the publication of financial statements is already included in the price of financial instruments. At the same time, the forecasts have become much bolder, which increases the likelihood of their fallacy. Also, we must not forget that Bitcoin is locally overheated, therefore Thursday can be the starting point of a local correction of the asset. BTC/USD Analysis The cryptocurrency has been in continuous upward movement since January 1, 2023. The asset successfully overcame the downward trend line and the 0.236 Fibo level. The next targets for the coin will be $17.8k–$18k. Bitcoin technical indicators are approaching the overbought zone, especially the stochastic, which broke through the 60 level. The RSI is also close to entering the overbought zone. At the same time, there is no increase in buying volumes on the daily chart, which may indicate the completion of the bullish impulse. A similar uncertain move can be seen on the daily chart of the S&P 500. One day, the asset forms the largest candle since the end of November, but subsequently loses to buyers near $4,000. Given this, it can be concluded that the SPX price movement is an impulse surge of trading activity or manipulation by a market maker. Read next: The EUR/USD Pair Maintains A Steady Upward Trend, The Aussie Pair Keeps Close To 0.69| FXMAG.COM Results Bitcoin is gradually passing the peak point of the upward movement as buying volumes are falling. Support from the SPX index looks unconvincing, as does the on-chain activity of the cryptocurrency. Given these facts, the asset needs a new impetus for growth, or a local correction. The publication of inflation reports can be a key moment in determining the further dynamics of the price movement of Bitcoin. With a favorable outcome and an increase in buying volumes, the asset will go to the $17.8k–$18k area..     Relevance up to 11:00 2023-01-12 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/331984

El Salvador passes bill to sell bonds backed by BTC. Societe Generale taps MakerDAO for US$7M DAI loan. Polygon blockchain to undergo a hard fork. Weekly Market Index Last week’s crypto market prices rose significantly by +23.12%. Volume and volatility also increased by +99.69% and +238.74%, respectively. Weekly Performance Cryptocurrencies continue to gain momentum across the board. Bitcoin (BTC) and Ethereum (ETH) were up +23.6% and +22.0% in the past seven days, respectively. News Highlights El Salvador has passed a bill that will allow the country to sell bonds backed by Bitcoin. US$500 million of proceeds from those bonds will be put toward a proposed plan to build a “Bitcoin City”.  U.K.’s Economic Secretary to the Treasury said that a digital pound currency is being considered and a public consultation on the attributes of a digital pound would be launched in the coming weeks. French investment bank Societe Generale took out a loan of US$7 million in the stablecoin DAI from MakerDAO, in what is seen as a significant direct transaction between a TradFi firm and a DeFi project. The bank used home loan bonds as collateral. Polygon (MATIC) announced a proposed hard fork to its blockchain. If approved, the upgrade is set to occur on 17 Jan. It will address gas fee spikes and chain reorganisation. Read next: Lowering The Price Of Electric Vehicles Is Supposed To Be Tesla's Unusual Strategy To Generate Demand In The US Market| FXMAG.COM Recent Research Reports     2022 Year Review & 2023 Year Ahead: 2022 has been a ride for the crypto industry. In this report, we curate the top ten crypto events and trends of 2022, followed by our outlook for 2023. Alpha Navigator (December 2022): The new year sees crypto outperforming equities and gold. BTC options implied volatilities are subdued while perpetual futures funding rates are positive. Social Graph and Digital Identity in Web3: Relationships and identities are key elements that make up social networks. In this report, we put a spotlight on the roles that decentralised social graphs and digital identity play in Web3 social.         2022 Year Review & 2023 Year Ahead: 2022 has been a ride for the crypto industry. In this report, we curate the top ten crypto events and trends of 2022, followed by our outlook for 2023.   Alpha Navigator (December 2022): The new year sees crypto outperforming equities and gold. BTC options implied volatilities are subdued while perpetual futures funding rates are positive.   Social Graph and Digital Identity in Web3: Relationships and identities are key elements that make up social networks. In this report, we put a spotlight on the roles that decentralised social graphs and digital identity play in Web3 social. Catalyst Calendar Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners.

National Australia Bank has become the second largest bank to create a stablecoin called AUDN to enable its business clients to settle blockchain transactions in real time using Australian dollars and highlighting the role of banks in driving innovation in the digital economy. Moreover, events in Davos continue to surprise and are constantly in the spotlight. In this article: Greta Thunberg accuses the political and business elite Another difficult year for the construction industry? AUDN- Stablecoin Created By National Australia Bank Greta Thunberg accuses the political and business elite Greta Thunberg is a Swedish environmental activist who is known for challenging world leaders to take immediate action for climate change mitigation. Now she has presented her activities in Davos. The four climate activists arrived in Davos after writing an open letter to the CEOs of fossil fuel companies via the Avaaz non-profit website. Thunberg, Nakate, Gualinga and Neubauer called on the leadership of the energy giants to immediately stop opening new oil, gas or coal extraction sites. Swedish climate activist Greta Thunberg accused the political and business elite at the World Economic Forum in Davos, Switzerland on Thursday of putting their own interests and short-term profits ahead of people and the planet. Greta Thunberg says Davos prioritizing greed and short-term profits over people and planet https://t.co/DEyzDTN6jv — CNBC (@CNBC) January 19, 2023 Another difficult year for the construction industry? The construction industry was and is one of those most affected by the fight against inflation. The prices of raw materials grew at a significant pace. As a result, sales increased. Expectations are not too good for this year either. Geberit expects 2023 to be a challenging year for the European construction industry. Rising interest rates led to a decline in sales in this market, as most preferred to renovate rather than buy a new home. Pipemaker Geberit sees tough 2023 for Europe's builders after sales dip https://t.co/HstnO8Ork6 pic.twitter.com/xrJ2lIgFBL — Reuters Business (@ReutersBiz) January 19, 2023 AUDN- Stablecoin Created By National Australia Bank The continued interest of banks in blockchain technology to improve financial markets infrastructure comes despite the 2022 horror for crypto markets, culminating in the collapse of crypto exchange FTX. The cryptocurrency market is constantly evolving. New ones appear. Now one of Australia's major banks, National Australia Bank, has announced the launch of the AUDN stablecoin. According to information, AUDN will be based on ethereum and blockchain algorithm. The stabeecoin will enable users to make real-time payments in blockchain technology, using the country's currency - the Australian dollar. AUDN will probably be rolled out in the middle of this year. Furthermore, NAB and ANZ work closely with financial regulators when stablecoin rules are developed. Reserve Bank Chairman Philip Lowe said last month that stablecoin regulation must be a priority and should be treated like bank deposits.The government is considering a cryptocurrency regulation regime, but it is unclear whether stablecoin regulation will be part of the original law. NAB and ANZ are not the only local players developing Australian dollar stablecoins. Another cash-backed stablecoin, AUDE, was created by non-bank company Ettle and was also introduced late last year, including to the retail market. NEWS: National Australia Bank (@NAB), one of the largest Australian banks, has created a stablecoin called AUDN.📰 https://t.co/iJVTndtwvR pic.twitter.com/8wpzFzA8Jg — CoinGecko (@coingecko) January 19, 2023

Crypto Industry News: After the meeting in Brussels, the finance ministers of the Euro area countries issued a statement on the introduction of the digital Euro. The Eurogroup meets regularly to discuss the political dimensions of a potential digital currency. The January 16 statement coincides with the release of an inventory document from the European Central Bank (ECB) detailing the progress made in designing a digital Euro. The Eurogroup statement referred to the need for the European Central Bank and the European Commission to inform the Eurogroup and EU Member States about the progress of the digital Euro, which is under investigation. The Eurogroup believes that the introduction of the digital Euro, as well as its main features and design choices, requires policy decisions that need to be discussed and taken at political level.' The group listed the issues it was observing, including the digital currency's impact on the environment, privacy, financial stability, and related issues. It also expressed interest in the plans of European Union Member States outside the Euro area with regard to central bank digital currencies. Technical Market Outlook: The Ethereum cryptocurrency rally had been capped at the level of $1,664 after the bulls hit the extremely overbought market conditions on the H4 time frame chart. The market is in the pull-back mode now and the nearest technical support is seen at $1,487. The key technical support is located at $1,350 and only clear and sustained breakout below this level would change the short-term outlook to bearish. Please keep an eye on the $1,487 technical support as any violation of this level would likely extend the drop towards $1,345. Weekly Pivot Points: WR3 - $1,834 WR2 - $1,702 WR1 - $1,628 Weekly Pivot - $1,570 WS1 - $1,496 WS2 - $1,438 WS3 - $1,307 Read next:Trump Returns To Social Media, Meta Will Restore The Former President's Account| FXMAG.COM Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 09:00 2023-01-27 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/310158

Crypto Industry News: According to data from the Dune analytics platform, OpenSea processed over $320 million worth of NFTs on the Ethereum network in January 2023. This figure makes the month better than its predecessor, as in December 2022 the value was $283.5 million. These two months were the first since April 2022 in which the NFT market showed some sort of increase in the number of sales. In November, for example, sales totaled $253 million. The news comes amid a period where the cryptocurrency market as a whole is starting to show signs of recovery after the long period of downtime it faced in 2022. The very resurgence of Ethereum (ETH) is related to the good moment of the NFT market. The cryptocurrency is up 30% in 30 days. At the current exchange rate, Ethereum costs $1618. Despite this, the volume of sales on OpenSea continues to grow, even when measured in ETH. Values are 228,000 ETH in January, 227,000 ETH in December, and 191,000 ETH in November. Much of this return to form can be attributed to Yuga Labs, creators of the Bored Apes Yacht Club and Mutant Apes Yacht Club collections. The company launched a new series a week ago called Sewer Pass where NFTs can be minted for free by third-party token holders and gives you exclusive access to Dookey Dash. Technical Market Outlook: The Ethereum cryptocurrency rally had been capped at the level of $1,664 after the bulls hit the extremely overbought market conditions on the H4 time frame chart. The market continues the pull-back cycle and the nearest technical support is seen at $1,487. The key technical support is located at $1,350 and only clear and sustained breakout below this level would change the short-term outlook to bearish. Please keep an eye on the $1,487 technical support as any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,834 WR2 - $1,702 WR1 - $1,628 Weekly Pivot - $1,570 WS1 - $1,496 WS2 - $1,438 WS3 - $1,307 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2023-01-28 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/310336

Crypto Industry News: Even though non-fungible tokens had an unfavorable year in 2022, the trend may reverse with the news that the NFT-funded film Calladita won an award at the Sundance Film Festival. The production was funded with approximately €750,000 thanks to successful adoption in the field of NFT. The Miguel Faus film began to be written in 2018, and in March 2022, the planning and subsequent release of the non-fungible tokens was completed. Faus assured that he decided to focus on the audience of NFT collectors, so that they would be the buyers of stills from the film "Calladita". "There is a revolution going on beyond crazy people buying pictures of kittens. This is a paradigm shift that I was deeply convinced would change the form of digital property." The Spanish-born filmmaker began writing the script for the film in 2018, but it wasn't until March 2022 that NFT's planning and release process was completed. Technical Market Outlook: The Ethereum cryptocurrency rally had been capped at the level of $1,664 after the bulls hit the extremely overbought market conditions on the H4 time frame chart. The ETH market has been seen making a potential Triangle price pattern on the H4 time frame chart. The nearest technical support is seen at $1,525 and $1,487. The key technical support is located at $1,350 and only clear and sustained breakout below this level would change the short-term outlook to bearish. Please keep an eye on the $1,487 technical support as any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,834 WR2 - $1,702 WR1 - $1,628 Weekly Pivot - $1,570 WS1 - $1,496 WS2 - $1,438 WS3 - $1,307 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2023-02-02 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/310961

Crypto Industry News: Asset management firm Devere Group says 82% of millionaires surveyed have asked their financial advisers to add cryptocurrencies like bitcoin to their investment portfolios. Devere Group, a global financial advisory and asset management firm with $12 billion worth of assets traded worldwide, has released the results of its cryptocurrency survey. She found that among her millionaire clients with $1 million to $5 million in investable assets, 82% sought advice on investing in cryptocurrencies. "In 2022, the cryptocurrency market hit its worst performance since 2018, with bitcoin down around 75% in a year," Nigel Green, CEO of Devere Group, commented on the report. He explained that the declines in cryptocurrency prices were due to investors reducing their "exposure to risky assets, including equities and cryptocurrencies, due to increased concerns about inflation and slower economic growth." Devere Group survey participants are not the only ones who are positive about bitcoin. A recent study published by Nickel Digital Asset Management found that institutional investors expect 2023 to be a good year for bitcoin, with 65% of surveyed institutional investors agreeing that BTC could hit $100,000. Technical Market Outlook: The ETH market had broken out from the Triangle price pattern on the H4 time frame chart and made a new local high at the level of $1,695. The next target for bulls is seen at the level of $1,788 (September 2022 high). The nearest technical support is seen at $1,525 and $1,487. The key technical support is located at $1,350 and only clear and sustained breakout below this level would change the short-term outlook to bearish. Please keep an eye on the $1,487 technical support as any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,834 WR2 - $1,702 WR1 - $1,628 Weekly Pivot - $1,570 WS1 - $1,496 WS2 - $1,438 WS3 - $1,307 Read next:India's Adani Group May Have Passed A Key Test, Positive EU CPI Report| FXMAG.COM Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2023-02-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/311141

Summaries of the last quarter come from companies. Shareholders are waiting for dividends. After a solid profit, Santander Bank Polska is ready to share it with its shareholders. What's more, the ETH market is constantly evolving. In this article: Share the profit with shareholders UBS is sponsors New terms Share the profit with shareholders The Polish branch of the Spanish Banco Santander posted a net profit of PLN 2.8 billion (USD 654.3 million) in 2022, up 152% year-on-year, driven by high interest rates. This optimistic result made Santander Bank Polska plan to share the profit with its shareholders through a solid dividend. The bank is in talks with the Polish financial regulator KNF regarding a possible dividend payment and is waiting for its decision. Santander Bank Polska plans to share profit with shareholders - CEO https://t.co/eFRmKIWnMe pic.twitter.com/2kQvht46vI — Reuters Business (@ReutersBiz) February 2, 2023 Read next: Resumption Of Cooperation Between Airbus And Qatar Airways| FXMAG.COM UBS is sponsor A foundation is a non-governmental organization established to achieve social and economically useful goals. Like any foundation, it needs funds. In order to obtain them, foundations often organize collections or look for disputes among large companies or famous people. One of the most attractive sponsoring areas for companies is certainly sport. This is the effect of the high return that companies get thanks to the strong connection of fans with the brand, identified with their favorite club or athlete. The attitude of fans' loyalty towards clubs influences their attitude towards sponsors and purchasing decisions. The 43 OAK Foundation is a organization based on the development of young athletes who are either minorities or underprivileged. They provide transportation, equipment, ice time, funding for travel hockey leagues and tournaments and other vital resources for the players. One of the sponsors of this organization is a multinational investment bank and financial services company - UBS. UBS is a proud partner of @43OakFoundation, helping young players reach their athletic goals and mentoring them, on and off the ice. Together with the @NYIslanders and @UBSArena, we’re promoting diversity and inclusion through the sport of hockey. #BlackHistoryMonth #shareUBS pic.twitter.com/OPJUbFuaa8 — UBS (@UBS) February 1, 2023 New terms New terms come along with development. The cryptocurrency market is one of those that is full of new concepts. ETH liquid staking, Lido staking and Liquid staking derivatives may seem foreign to many novice traders. So it's not worth getting behind and immediately familiarizing yourself with these concepts in a special guide, because the cryptocurrency market is developing very quickly and now is the best time to develop yourself and your finances and investments. The ETH liquid staking narrative is already going strong but that does not mean you are necessarily late. Ethereum upgrades and scaling will be one of the main narratives in 2023. Another intriguing project on the horizon is Eigenlayer. #ETH liquid staking! Lido staking! Liquid staking derivatives!So many buzzwords, so little time... 😱Let #CMC help you dive into this overall definition and the details of #Ethereum liquid staking 👇https://t.co/IwVIY997Mj — CoinMarketCap (@CoinMarketCap) February 2, 2023

Cryptocurrencies on the brink of a nervous breakdown Cryptocurrencies have been in retreat for the last quarter of 2022. For the 75 largest of these (excluding stablecoins), the average decline since the beginning of the year has been as much as 65.09%. Bitcoin (BTCUSD) has fallen by 63.22% in that time. Interestingly, in this pool, only one cryptocurrency - Trust Wallet Token - has gained a positive return of more than 240% since the beginning of the year. However, let us recall the structure of this market. The value of all cryptocurrencies, according to MacroMicro data, is currently around 860 billion USD and has fallen by 69% (2.82 trillion USD) since its peak. Currently, Bitcoin accounts for 38% of the capitalisation, with the second largest digital currency Ethereum accounting for 18%. The average correlation of all currencies against Bitcoin was 0.71. It may indicate a high dependence of this market on the valuation of just this one cryptocurrency. Therefore, with elevated volatility, increases or decreases in Bitcoin, we could expect similar reactions in other cryptocurrencies. The correlation of Bitcoin with the S&P500 (US500) index was 0.56, which appears to be a significant correlation. Additionally, the cryptocurrency volatility was noticeably higher than the stock market, measured by an annualised standard deviation of 58.5% compared to the S&P500’s 21.7%. The average deviation of the market for the largest digital currencies was 91%, and the record holder was Synthetix (SNXUSD), whose annual volatility was as high as 141%. This shows us how this asset class had increased risk relative to the equity market. Read next: Resumption Of Cooperation Between Airbus And Qatar Airways| FXMAG.COM Cryptocurrencies the babies of cheap money Previously, central banks’ monetary policies may have been behind the success of the cryptocurrency market. Measures to stimulate post-pandemic economies by providing cheap money in the form of low interest rates have historically led to local speculative bubbles. It appears to be no different in this case. We can see a correlation with regard to changes in the size of the M2 monetary base and the Bitcoin price, whose growth rate has slowed considerably this year. Therefore, as we are currently in a cycle of ever higher interest rates and monetary tightening, it seems that we may not see increases in this market any time soon. „Only when the tide goes out that do you discover who’s been swimming naked” - the consequences of the FTX stock market collapse Since we saw the bankruptcy of the 3rd largest cryptocurrency exchange FTX, the digital currency market has pierced in recent support levels. Currently, the price of Bitcoin (BTCUSD) is hovering around 17,000 USD. To answer the question of which exchanges may be at risk of insolvency, we should assess the level of coverage of positions taken. The Coinmarketcap website has introduced such a feature. However, it seems that the lack of transparency in this case could be one of the first clues to warn investors. The exchanges currently characterised by relatively high turnover and, at the same time, a lack of transparency are Ecxx, MEXC, IndoEx, Upbit and BitCoke. Increased liquidity could be linked to investors’ willingness to withdraw funds and close positions, so that these entities need to be particularly watched. Good to watch cryptocurrencies Read the full Yearly Outlook 2023 by Conotoxia here!

Crypto Industry News: Berkshire Hathaway (BRK) Vice Chairman and staunch skeptic of the crypto market, Charlie Munger, has called on the US to follow China's lead and ban cryptocurrencies altogether. In an opinion the billionaire expressed to a widely read financial journal, Munger claimed that the growth of cryptocurrencies was due to a loophole because crypto assets are not currencies, commodities or securities. In addition, he said this: "Instead, this is a nearly 100% house edge gambling deal made in a country where gambling deals are traditionally regulated only by states that loosely compete with each other." He further added: "The United States should now pass a new federal law to prevent this from happening." This is not the first critical statement by the vice-president of BRK towards the crypto industry. In 2021, Charlie Munger described Bitcoin's success at the time as "disgusting", after referring to how it is being used by criminals, scammers and hackers. We have recently prepared a report about these third parties, in which we summarize their activities in the crypto industry in the last year - we strongly encourage you to read it. A year later, the 99-year-old called BTC an "investment in nothing," reaffirming his skeptical stance on the "new digital gold." Munger even went so far as to say that he wished cryptocurrencies had "never been invented." But perhaps that was what Satoshi Nakamoto had in mind. Technical Market Outlook: After the fake breakout from the Triangle price pattern on the H4 time frame chart and a new local high at the level of $1,695 the ETH/USD pair reversed sharply lower. The Bearish Engulfing candlestick pattern was made at the H4 time frame chart yesterday, so the outlook remains bearish now. The nearest technical support is seen at $1,525 and $1,487. The key technical support is located at $1,350 and only clear and sustained breakout below this level would change the short-term outlook to bearish. Please keep an eye on the $1,487 technical support as any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. The next target for bulls is seen at the level of $1,788 (September 2022 high). Weekly Pivot Points: WR3 - $1,834 WR2 - $1,702 WR1 - $1,628 Weekly Pivot - $1,570 WS1 - $1,496 WS2 - $1,438 WS3 - $1,307 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2023-02-04 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/311312

Summary:  From a near-perfect environment for speculative assets before 2022 to the opposite, crypto faces fundamental challenges. The genesis of crypto: a post-GFC liquidity bonanza On December 16, 2008, the United States Federal Reserve (Fed) slashed with a stroke of the pen the interest rate to near zero amid the Great Recession. This was the first time in history that the Fed imposed an interest rate below one. To get the economy back on its feet, the Fed followed up with hefty quantitative easing in March 2009 to flood the economy with fresh money and liquidity. Throughout the 2010s, the Fed retained a low interest rate, aside from a few minor interest rate hikes and cuts, while other central banks even enforced a negative rate. To put it frankly, this formed a near-perfect environment for speculative assets to thrive for years to come. As a peculiar circumstance, hardly two weeks after the Fed slashed interest rates to zero for the first time, the most speculative asset of this epoch – namely Bitcoin – emerged, following its genesis block on January 3, 2009. It was largely a coincidence that Bitcoin mined its first block that close to the Fed imposing zero rates and quantitative easing. However, this environment has been of great significance to make Bitcoin and later crypto as a whole the darling of retail investors it slowly but surely became. Retail supremacy In its first decade, crypto derived little if any recognition from the lion’s share of institutional investors and financial intermediaries, other than a few strong advocates. Although the financial establishment would simply not touch crypto with a bargepole, retail participation grew exponentially, making crypto a key playing field for retail investors along with meme stocks and other r/wallstreetbets favourites. The near zero or even negative interest rates in some countries have drawn in retail investors to investable assets, including greatly speculative markets such as crypto to perchance achieve some return on their capital, during times at which interest rates have not given any yield. The absence of institutions and frequent fear-of-missing-out retail investors have fuelled excessive volatility and various bubbles such as in 2017 and 2021, causing countless cryptocurrencies to unsustainably pump to sky-high prices before dropping like a stone. This volatility has arguably reinforced the desire of institutions to stay away from crypto. A great business to serve retail Serving the trading needs of retail in crypto has been an extremely lucrative business for the exchanges that were early movers in the space. In fact, the majority of Coinbase’s revenue is a product of retail trading, although the company has various other revenue streams such as staking, interest rate earnings, commerce gateway, developer tools, and institutional trading and custody. Retail trading of crypto may not pay as many bills at zero-commission broker Robinhood relative to Coinbase, yet, it is still a sizeable part of the firm’s revenue, particularly considering that it offers trading in other assets such as equities and options. This stresses that retail rather than institutions keeps crypto-trading enablers afloat. Source: Coinbase Global, Inc. & Saxo Group Source: Robinhood Markets, Inc. & Saxo Group Will retail stick around just as interest rates rise and liquidity dries up? In what felt like a flash in 2022, the macro environment transformed from a near-perfect environment for speculative assets on pandemic-induced liquidity to an ugly reversal. To tame soaring inflation, the Fed raised interest rates from near zero to above 4 percent in the span of less than a year, causing other central banks around the world to follow suit. To make matters worse, the Fed initiated quantitative tightening to decrease the liquidity in markets by shrinking its balance sheet. The rate hikes in 2022 reduced liquidity and further deflated the frothiest speculative markets of 2021. In hindsight, in early 2021, retail hands had started running dry of fresh ‘free’ pandemic stimulus money to plough into crypto. Note, for example, the first huge peak in Bitcoin and other crypto assets was within several weeks of the last and largest US stimulus check, after which the subsequent volatility saw many crypto traders burning out. From this point forward, if retail continues to withdraw capital from brokers, the crypto market is likely to be hit the hardest, as crypto has never existed in such a macro environment and because of weak participation from professional and institutional investors. In our view, retail will not likely pull out of the market immediately, as the almost 15-year perception that money is cheap must be erased from the dominant, younger generation of retail crypto traders. If liquidity stays tight as central banks fight inflation, the model of retail supremacy to not only keep the crypto market afloat but also the model of crypto brokers selling shovels in a gold rush will break down. From retail to institutions In the past few years, crypto market advocates have touted the impending arrival of serious institutional participation. Relative to the ‘don’t-touch’ attitude that institutions largely held towards crypto until 2020, some respected institutions have dipped their toes into the space, trading the market themselves, offering it to clients, and in some cases executing various transactions directly on-chain. While this is a step in the right direction, the institutional interest in crypto has been relatively modest, as it is still dominated by relatively few institutions. As a consequence, institutions are not likely set to arrive in sufficient force in the near-term to offset retail’s crypto exit, particularly for the smaller and less liquid cryptocurrencies. Nonetheless, less retail activity may lead the market to a less speculative but more robust and sustainable model long-term, although most cryptocurrencies may not survive the wash-out of speculative activity. To bring about a sustainable model for the market to thrive in the future, crypto must return to its roots by offering unique decentralised use cases and mature into more economically sustainable assets. On the latter, last year was encouraging in demonstrating that cryptocurrencies can be economically sustainable assets by generating dividend-like returns, following Ethereum’s transition from proof-of-work to proof-of-stake last year. During the transition, Ethereum drastically decreased its issuance of new Ether, so it nowadays offers holders a reward of up to 7 percent yearly by verifying transactions but without increasing its supply, as the reward is fundamentally funded by transaction fees. Hopefully, other cryptocurrencies and tokens follow in Ethereum’s footsteps in turning into more economically sustainable assets, altogether leading the space to become less speculative.   Source: Can institutions save crypto before retail vanishes? | Saxo Group (home.saxo)  

Crypto Industry News: The New Year's 40% rebound in Bitcoin's price charts led to the largest influx of funds into the market from institutional investors since June 2022. The last week of January alone saw an influx of funds amounting to USD 117 million. On January 30, the CoinShares group published a report called "Digital Asset Fund Flows Weekly", from which we learn what the investment situation on the bitcoin market looked like recently. It seems that the first cryptocurrency is still recognized by institutions as an attractive investment opportunity. Last month was one of the better Januarys for the bitcoin market in years. Bitcoin shot up by 40% at that time, which affected investor sentiment and reduced losses suffered by this sector as a result of the tragic end of the year. Last week's US bears seem to have changed their minds after $117m inflows, including $26m from the US. An interesting fact is that investors from Germany account for 40% of the result from the last week of January. The second largest group are Canadians. Moreover, although the altcoin segment also saw a nice price rally, the interest of the institution is dominated by BTC. In the meantime, after a noticeable rebound in early 2023, BTC's largest institutional investment vehicle has fallen into a lower correction that continues to deepen its discount. As of Feb. 7, Grayscale Bitcoin Trust (GBTC) is trading at 43% off Bitcoin's spot price after it jumped 36.2% in mid-January. However, GBTC has been struggling with some problems for some time. Grayscale is trying to force US regulators to approve the conversion to the country's first bitcoin-listed fund. The foundations of the second largest cryptocurrency in terms of market capitalization may be strongly affected by the recent announcement of Visa Vice President Cuy Sheffield. Well, during the event, StarWare announced that his company is testing large transactions using this Ethereum blockchain. It was mentioned that Visa is exploring ways to accept payments in stablecoins through this blockchain. Technical Market Outlook: The ETH/USD pair has bounced from the technical support seen at $1,603 and is approaching the last swing high. The next target for bulls is seen at the level of $1,788 (September 2022 high). The intraday technical support is seen at $1,603 and the key technical support is located at $1,350, so only clear and sustained breakout below this level would change the short-term outlook to bearish. Please keep an eye on the $1,487 technical support as any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,630 WR2 - $1,625 WR1 - $1,623 Weekly Pivot - $1,620 WS1 - $1,618 WS2 - $1,614 WS3 - $1,609 Read next: The Decline In Tech Valuations Continues To Hit SoftBank| FXMAG.COM Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2023-02-09 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/311853

Crypto Industry News: Fos Sports TV station has decided that during Super Bowl LVII there will be a rule of banning all crypto ads. After the devastating crypto winter of 2022, which saw many high-profile bankruptcies, Fox Sports decided to effectively ban cryptocurrency-related ads. This decision is to help protect Fox Sports viewers from financial losses. Fox Sports has sold out all available ad space for the upcoming top game - the Super Bowl - scheduled for next Sunday between the Kansas City Chiefs and the Philadelphia Eagles. No crypto company has purchased the advertising rights on the day of this major American sporting event. Read next: Disney Plans To Cut Costs And Jobs, Google Is Now Rolling Out AI Chatbot| FXMAG.COM Technical Market Outlook: The ETH/USD pair has reversed from the level of $1,700 again, so the next target for bulls, seen at the level of $1,788 (September 2022 high) is moving away. The intraday technical support is seen at $1,603 and the key technical support is located at $1,487, so only clear and sustained breakout below this level would change the short-term outlook to bearish. Please keep an eye on the $1,487 technical support as any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,630 WR2 - $1,625 WR1 - $1,623 Weekly Pivot - $1,620 WS1 - $1,618 WS2 - $1,614 WS3 - $1,609 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2023-02-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/312057

Crypto Industry News: The Russian Federation intends to launch a cryptocurrency mining facility worth over $12.3 million in the coming months. According to a local Russian media report, this huge data center will be located in Buryatia, a Russian republic in eastern Siberia. The facility is expected to house 30,000 mining equipment and the projected total power consumption is 100 megawatts. The mining project is managed by the JSC Corporation and the Plenipotentiary of the President in the Far Eastern Federal District of the Russian Federation. According to a press release from KRDV, Bitriver-B, the operational arm of Russia's largest mining company Bitriver, has started construction by establishing critical infrastructure and providing the necessary energy equipment. The construction of the enterprise will be completed in the first half of 2023, where approximately 100 new jobs will be created. The main objective of KRDV is to drive the economic and infrastructural development of the Russian Far Eastern Federal District by supporting investment projects in several fields, including tourism, energy, health, etc. Technical Market Outlook: The ETH/USD pair has reversed from the level of $1,700 again, so the next target for bulls, seen at the level of $1,788 (September 2022 high) is moving away. The intraday technical support seen at $1,603 had been violated and the key technical support located at $1,487 is about to be tested by bears. Only a clear and sustained breakout below this level would change the short-term outlook to bearish, so please keep an eye on the $1,487 technical support. Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,569 WR2 - $1,541 WR1 - $1,532 Weekly Pivot - $1,513 WS1 - $1,503 WS2 - $1,484 WS3 - $1,456 Read next: Amazon Is Slowly Dismantling Tony Hsieh’s Version Of Zappos, Louisa Vuitton Doubled Sales| FXMAG.COM Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 09:00 2023-02-14 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/312416

Crypto Industry News: According to American media, the Securities and Exchange Commission (SEC) will sue Crypto Trust Co. Paxos for supporting the BinanceUSD (BUSD) stablecoin issuance. Additionally, Paxos is facing an investigation by the New York Department of Financial Services (NYDFS), which urged the company to stop further BUSD issuances, which Paxos has already done. What is BUSD? It is a Binance-branded stablecoin previously issued by Paxos, a New York-regulated custodianship that is temporarily licensed by the Office of the Comptroller of the Currency, a federal banking regulator. However, this is probably not the only problem, because last week the company received the so-called Wells notification, which means that regulators have identified irregularities in its functioning. The news actually comes just after the SEC imposed a $30 million fine on the Kraken exchange, alleging that its staking services were an offer of unregistered securities. Kraken did not admit or deny the SEC allegations as part of the settlement, but closed all of its US staking programs and paid the penalty. So we see that SEC chief Gary Gensler intends to enter the cryptocurrency industry with the door and the current investigation may be a broader operation. Technical Market Outlook: The ETH/USD pair has reversed from the level of $1,700 again, so the next target for bulls, seen at the level of $1,788 (September 2022 high) is moving out of sight. The key technical support located at $1,487 was tested by bears already and now the market is trying to bounce. Only a clear and sustained breakout below this level would change the short-term outlook to bearish, so please keep an eye on the $1,487 technical support. Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,569 WR2 - $1,541 WR1 - $1,532 Weekly Pivot - $1,513 WS1 - $1,503 WS2 - $1,484 WS3 - $1,456 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2023-02-15 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/312600

Crypto Industry News: Coinbase has been in the spotlight of the crypto world over the past few days as the U.S. Securities and Exchange Commission (SEC) investigates Coinbase's biggest competitor. The suspicions against the Kraken were confirmed and bore fruit in the form of a fine. For this reason, now Coinbase is in the spotlight and FUD affects the mood of Coinabse investors and customers. However, according to Coinbase, staking is not a violation of the Securities Act or even the Howey test. More importantly, Coinbase stated that forced staking under the Securities Act will be detrimental to users. This form of regulation through enforcement could push US users into unregulated offshore markets. Although new developments are taking place ahead of the Shanghai update, Ethereum validators and the ETH network remain undeterred. And according to Staking Rewards, so far the number of validators on the Ethereum network continues to grow. More specifically, the ETH network has seen an increase of 3.5% in the last 30 days. Growing revenue generated is one of the reasons why the number of validators continues to grow despite the negative press around staking. Only in the last month, validators generated an increase in revenues by 32.81%. Additionally, the overall ETH rate also increased. Currently, around 14% of all ETH is staked, and this number may change after the Shanghai update. Most ETH is staked through Lido and other centralized exchanges. Read next: Airbnb Posted A Profit Of $1.9. Billion, Air India And Largest Commercial Aircraft Deal In Aviation History| FXMAG.COM Technical Market Outlook: The key technical support on ETH/USD pair, which is located at $1,487 was tested by bears already and now the market is trying to bounce. The bulls had broken above the local trend line (orange line on the chart) and continue to move higher towards the 50 MA ($1,576). Only a clear and sustained breakout below the level of $1,487 would change the short-term outlook to bearish, so please keep an eye on the $1,487 technical support. Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,569 WR2 - $1,541 WR1 - $1,532 Weekly Pivot - $1,513 WS1 - $1,503 WS2 - $1,484 WS3 - $1,456 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2023-02-16 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/312814

EIP-4844, also known as proto-danksharding, is a proposed upgrade to the Ethereum protocol meant to reduce fees and increase transaction throughput. It intends to achieve these objectives by introducing a new transaction type that accepts “blobs” of data. A simple way to understand EIP-4844’s function is the following alliterative phrase: “EIP-4844 bolts blobs onto blocks”. It is a transitional upgrade that will ultimately lead to full danksharding in the future, thereby enabling Ethereum to manage the capacity for a global transaction network.  Introduction For years, Ethereum developers have been seeking solutions to cater to a growing user base. Through what’s known as The Ethereum Upgrades, major improvements like The Merge and rollups have been proposed. These changes have helped Ethereum increase transaction throughput and lower transaction costs. However, fees remain too expensive for many and throughput is not where it needs to be, which slows down the pace of mass adoption. To address this issue, Ethereum has made data sharding its long-term solution. Since deploying data sharding is a long and complex process, EIP-4844 is being proposed as a transitional solution. As such, it will prepare Ethereum for full danksharding that will reach a throughput of around 100,000 transactions per second (TPS) without compromising decentralization or security. Learn more on Binance.com What Is EIP-4844? EIP stands for Ethereum Improvement Proposal, a protocol that allows developers to propose new features and solutions to the Ethereum protocol. Proto-danksharding is named after two Ethereum researchers, Proto Lambda and Dankrad Feist.    To understand EIP-4844, it’s necessary to first understand what sharding is. Simply put, it’s a way of partitioning databases into smaller ones that manage specific data segments, thereby improving the efficiency and performance of these databases.  When applied to blockchain — and Ethereum in particular — sharding takes on some unique features. Ethereum plans to implement a type of sharding, called danksharding, that will help lower transaction costs and increase throughput. Labeled the “scalability killer”, danksharding is expected to increase Ethereum’s TPS to around 100,000.  In comparison, the Ethereum base layer processes around 15 TPS and its layer 2 rollups process around 100 TPS as of Q1 2023. While these numbers are rough estimates, the effect of danksharding is clear: it will allow Ethereum to increase scaling by an order of magnitude. Some of the main differences between danksharding and previous Ethereum and non-Ethereum sharding proposals is that danksharding will attempt to provide more space for blobs of data, rather than for transactions (more on this later).  Another innovation of danksharding is the so-called merged fee market, where only one proposer chooses transactions for all shards, instead of each shard having its own proposer.  To make this merged fee market work and to alleviate the issue of maximal extractable value (MEV), a method called proposer/builder separation will also be implemented. A proposer is a validator of the Ethereum protocol (called a miner before the Ethereum Merge) that chooses which transactions to include in the next block.   EIP-4844 (proto-danksharding) is the step that will come before full danksharding and will increase TPS to approximately 1,000. Most importantly, EIP-4844 will introduce a new transaction type that accepts “blobs” of data — an important element of making full danksharding possible. EIP-4844 is expected to be implemented in the second half of 2023, though there may be delays. How Does EIP-4844 Work? At its core, EIP-4844 will introduce a new transaction type called blob-carrying transactions, which are like regular transactions but with added pieces of information known as binary large objects or “blobs”.  Ethereum contributor Ben Edgington summarizes EIP-4844 with the memorable alliterative phrase, “EIP-4844 bolts blobs onto blocks”. It succinctly describes how blob-carrying transactions entail “blobs” attached to blocks, which increases the amount of data blob-carrying blocks can handle.  This may be confusing as it seems akin to increasing block sizes — a contradiction of Ethereum’s stance against arbitrarily large blocks that would require greater computing power and could thus lead to centralization.  However, there are some critical differences between blockspace and blobspace. Blobs: bounded storage costs and no execution costs, but every node bears a bandwidth cost. Source: Ben Edgington Blobs are large in size but unlike blocks that are stored forever and visible to the Ethereum Virtual Machine (EVM), blobs are only available for a short period of time and are not visible to the EVM. Additionally, blobs reside on the Ethereum consensus layer instead of on the computation-heavy execution layer. Most importantly, blobspace is much cheaper than blockspace.  Aside from introducing blob-carrying transactions, EIP-4844 will also implement execution-layer logic, verification rules, multi-dimensional fee markets, and other system changes required for full danksharding in the future. One thing to note is that even though EIP-4844 will implement most of the logic of full danksharding, it won’t implement any actual sharding. Nevertheless, apart from getting Ethereum one step closer to achieving the cost and throughput levels needed for mass adoption, EIP-4844 can still offer some scaling and cost-saving benefits.      How Will EIP-4844 Benefit Users? EIP-4844 is a protocol upgrade that’s part of Ethereum’s rollup-centric roadmap. Preparation for the implementation of EIP-4844 is moving rapidly, with some devnets having already been run and the specs for the upgrade almost finalized.  Users will see noticeable improvements after EIP-4844’s implementation, mainly in the form of faster transactions and lower fees. The successful implementation of EIP-4844 will also make Ethereum more competitive in the cryptocurrency space. Some users may wonder what they should do if they want to access old blob data that has been deleted. As explained earlier, blobs reside on the Ethereum consensus layer, whose purpose is to provide a highly secure real-time bulletin board for other protocols’ longer-term storage. So, even though blobs are deleted after weeks, their data should still be available in longer-term storage elsewhere. Closing Thoughts EIP-4844 is a highly complicated Ethereum protocol upgrade that’s part of a larger roadmap and that’s connected to other system upgrades, such as proposer/builder separation (PBS) and EIP-1559 blob fee adjustment. While an understanding of EIP-4844 will better prepare average users for the coming changes, one should note that most of that change will come in the form of lower costs and faster transactions. The Ethereum protocol is constantly evolving and improving. EIP-4844 is one of the critical near-future upgrades meant to enhance the network’s capabilities. Successful implementation of EIP-4844 will make Ethereum highly competitive as a global transaction network. Further Reading What Is the Ethereum Arrow Glacier Upgrade? The Merge Ethereum Upgrade: All You Need To Know What Is the Ethereum London Hard Fork? What Is the Ethereum Shanghai Upgrade and How Will It Affect Me? Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. Not financial advice. For more information, see our Terms of Use and Risk Warning.

TL;DR EOS is a Layer 1 blockchain designed to address scalability issues first-and second-generation blockchains face. As the longest-running blockchain after Bitcoin and Ethereum in the industry, it has been used by developers to build blockchain applications and ecosystems. This has, in turn, unlocked use cases in the supply chain, decentralized finance (DeFi), and gaming finance (GameFi) sectors, among others. Learn more on Binance.com Introduction EOS was launched in 2018 using open-source technology from Cayman Island-based company B1. In its early days, EOS was known to outperform other projects, thanks to its technical innovation. However, development slowed, and the venture capital pledged to community projects building on EOS fell through. Faced with these challenges, projects on EOS no longer had the resources needed to continue operating on the network. In solidarity, EOS Block Producers reached a consensus on creating a new entity called the EOS Network Foundation (ENF), which is now responsible for efficiently deploying capital and moving EOS forward. EOS Block Producers also passed a proposal to stop locking up tokens — or token vesting — for use by B1, and the EOS Network became a decentralized autonomous organization (DAO).  On September 21, 2022, to achieve absolute code independence, community engineers led by the ENF shifted away from EOSIO 2.0 to Leap 3.1, the C++ implementation of the new Antelope protocol. Today, with its new features, EOS continues to tackle scalability challenges faced by blockchains. What Is EOS? EOS token EOS uses Delegated proof-of-stake (DPoS) as its consensus mechanism. Its native token, EOS, is a utility token used on the network to purchase system resources, participate in EOS governance, transfer value on native applications, and account for value by investors and speculators. Token holders can also stake their idle EOS tokens to receive a percentage of the fees collected by users who wish to use EOS system resources through the EOS PowerUp Model. Introduction to the EOS Blockchain In many real-world situations, scalability is the most significant barrier to establishing public blockchains. Blockchains’ scalability issue typically emerges when a network grows and its transactions increase.  Commonly debated blockchain performance measures such as swaps per second, transaction throughput, and latency are have yet to achieve a sufficient quality-of-service level in many blockchains. Through its aforementioned ecosystem features, EOS aims to address these limitations without compromising network security or developer freedom. A WebAssembly C++ engine At the core of the EOS blockchain resides a high-performance WebAssembly (WASM) engine that executes smart contract code. This engine is designed to meet the demands of blockchain applications that require far more from a WASM engine than web browsers do. High throughput, faster confirmations, and low latency A good user experience demands reliable feedback with a delay of not more than a few seconds. EOS achieves high transaction throughput because its DPoS mechanism need not wait for all the nodes to complete a transaction to achieve finality. This asynchronous style of validation results in faster confirmations and lower latency, i.e., the time taken for a transaction to be confirmed as accurate after it has been initiated.  EVM integration EOS has an Ethereum-compatible Virtual Machine (EOS EVM) that allows Solidity developers on Ethereum to enjoy the EOS blockchain’s scalability and reliability. This includes nearly free transactions for their users, as well as access to the open-source code libraries and tooling to which they are already accustomed.  Permissions through access keys The underlying design of the EOS blockchain incorporates a comprehensive and highly flexible permissions system to create custom permission models for various use cases. Account owners can grant specific authorizations to third parties while having the power to revoke these permissions at any time. EOS supports hierarchical account structures, which enable any user to manage multiple smart contracts under a single parent account. Alternatively, an account owner can divide the authority required to modify a smart contract across various accounts. Flexibility Due to its protocol design, applications deployed on EOS are upgradeable. This means developers can deploy code fixes, add features, and change the application’s logic as long as they have the necessary authority to do so. EOS also allows developers to deploy smart contracts that cannot be modified. These decisions are left to the discretion of EOS developers rather than at the mercy of the protocol. Programmable resource allocation and governance Developers can modify system smart contracts to create customized economic models and governance rules. Since the core layer of code does not always have to be updated for changes to occur, this on-chain mechanism can be modified using system smart contracts. What Makes EOS Unique? Human-readable accounts EOS leverages human-readable accounts to make it easier for users to remember their own accounts, as well as those with which they interact. Instead of long strings of random characters, EOS accounts usually use recognizable addresses such as “Alice.gm”. Affordable transaction fees EOS offers its users nearly free transactions, making it ideal for sending or receiving micropayments. This addresses one of Web3’s greatest barriers to entry, since gas fees on other chains can add significant costs to a single purchase.  Near-instant finality In cryptocurrency transactions, finality refers to the assurance or guarantee that the transactions cannot be reversed or altered after completion. The speed of a blockchain will impact its finality rate, as it determines how quickly transactions are confirmed and finalized. Currently, EOS’s finality is approximately three minutes — much faster than Bitcoin’s 60 minutes and Ethereum’s six minutes.  In contrast with Web2’s finality, however, three minutes is still slow. Therefore, the ENF and its key technology partners — known as the Antelope coalition — launched the Instant Finality initiative to offer users instant and irreversible transaction settlement. Energy efficiency EOS’ DPoS mechanism allows its nodes to validate transactions more quickly and with fewer network resources. Because it does not involve mining like proof-of-work (PoW) networks, the EOS Network is one of the industry’s more energy-efficient blockchains. Base layer insurance  Recover+ (R+ for short) is a cybersecurity portal and rapid incident response program designed to safeguard EOS DeFi projects and their users with bug bounties and white-hat incentives. With a response program, stolen funds can be recovered swiftly in the event of malicious hacks.  On November 5, 2021, blockchain lending platform Pando Rings was exploited for over $70m. While Pando Rings is not an EOS-based application, the attacker stole over $2m in EOS tokens. Thanks to this program, the Recover+ team was able to intervene and freeze the stolen funds, thereby protecting EOS DeFi users. EOS Working Groups Since the ENF was established in 2021, it has funded several EOS Working Groups for ecosystem improvements. It has also recommended a course of actionable items through “Blue Papers”, which offer suggestions for enhancements in several areas, including core infrastructure, APIs, SDKs, DeFi, and security analysis tooling. EOS Network Ventures EOS Network Ventures (ENV) is a $100m venture capital fund whose mission is to attract capital investment and deploy it to benefit the EOS Network. It also makes strategic equity and token-based investments into tech start-ups in the Web3 space. ENV’s scope includes — but is not limited to — GameFi, the metaverse, eSports, NFTs, and fintech. EOS Network Foundation The EOS Network Foundation (ENF) is a community-led non-profit founded by Yves La Rose in September 2021. Its mission is to identify opportunities for investment, seed funding, and collaboration in pursuit of Web3 innovation. To do so, the ENF coordinates public goods funding and non-financial support for the growth, development, and worldwide adoption of the EOS Network. Since its establishment, multiple public goods programs have been organized and funded, contributing to key EOS developments. On November 9, 2022, the ENF announced that it had initiated a proposal to launch a $100m ecosystem fund to be managed by ENV. Closing Thoughts As the longest-running blockchain after Bitcoin and Ethereum, EOS has overcome past challenges and adapted to present demands since its inauguration. It continues to move towards a robust system, using its performance, flexibility, and scalability to create native Web3 GameFi experiences for both developers and end-users. Further Reading What Is Layer 1 in Blockchain? Proof of Work (PoW) vs. Proof of Stake (PoS) What Is Proof of Work (PoW)?

TL;DR Trading psychology represents the emotional aspect of a trader’s decision-making process. Every trader, to a certain extent, has emotional triggers. The two primary emotions that affect traders are fear and greed — both can lead to poor decisions, such as going all-in on one asset or panic-selling out of fear.  Even if a trader knows how to perform technical and fundamental analysis at a high level, a weak or anxious mind easily swayed by emotions can be highly detrimental to their portfolio — especially in a volatile trading environment like crypto. Learn more on Binance.com What Is Trading Psychology? Trading psychology refers to the psychological factors that influence how people trade in markets like crypto or stocks. It is based on the idea that emotions can significantly impact a trader's decision-making process.  For example, greed can drive a trader to make a high-risk decision, like buying a cryptocurrency at its peak due to its rapidly rising price. In contrast, fear can result in a trader prematurely exiting the market. FOMO is particularly prevalent when an asset has appreciated significantly in value over a relatively short period of time. This has the potential to cause a person to make market decisions based on emotion rather than logic and reason. Every trader is affected by emotion. For most people, losing money is painful, while earning money is joyful.  Why It’s Important To Understand Your Mindset When Trading Fear and greed are the two primary emotions in trading.  Fear can drive a trader to avoid all risks and possibly miss out on a successful trade. On the other hand, greed can lead to excessive risk-taking to maximize profits, such as buying an asset at its peak because its price is rising rapidly.  Experienced traders know to strike a balance between fear and greed. Fear protects traders from taking unnecessary risks, while greed motivates them to capitalize on opportunities. Over-reliance on either emotion, however, typically leads to irrational trading decisions.  Learning to trade with the correct mindset is as important as performing fundamental analysis or knowing how to read a chart. By understanding and controlling their emotions, traders can make informed decisions and minimize losses. Making unemotional decisions is, of course, easier said than done. Traders deal with a variety of challenges every day that can invoke an emotional response. Here are a few examples. Unrealistic expectations: Trading is not a get-rich-quick scheme. People who go into trading with this idea are in for a rude awakening. Like any skill, trading requires years of practice and discipline. Losing: Even the best traders have gloomy days. For new traders, losing trades is a tough concept to grasp and often leads to even more failed attempts to try and outwit the market. Winning: While winning feels good, the downside is that traders may feel a sense of over-confidence or invincibility, and may be under the false perception that they can’t lose. This can lead to riskier decisions and ultimately, losses.  Market sentiment and social media: Beginner traders are easily influenced by what people say on the Internet. Negative sentiment on social media can lead to fear, which can result in panic selling. It’s equally unwise for a trader to blindly follow an influencer’s advice to buy a specific token, especially if the influencer is sponsored by the token’s project and paid to promote it. How to Use Trading Psychology to Become a Better Trader Think long term Set achievable goals. A realistic plan of what you want to achieve helps prevent over-trading or getting too emotional due to unrealistic expectations. It will also help keep your focus on the long-term goal rather than short-term gains or losses. Take a break  Regular breaks can provide much-needed perspective and clarity on where things stand. If you hit a string of winning trades, step back before you get carried away into overtrading. Additionally, pulling all-nighters will cause you to burn out and as a result, make bad decisions. Breaks are beneficial not only for your portfolio but also for your own physical and mental well-being. Learn from mistakes Everyone makes mistakes when trading. Instead of getting angry at yourself or worse, trying to recoup your losses with even more capital, go back and analyze what went wrong. Implement new strategies based on what you learn from previous mistakes and you’ll be more prepared the next time.  Set rules   Create a detailed trading plan and stick to it. This plan will outline how you approach different situations and will help keep your reactions under control during times of stress. Some examples include using stop-losses and take-profits, limiting how much money you can gain or lose in one day, and a risk management strategy with which you’re comfortable.  With a clear plan in mind, you’ll know exactly what steps need to be taken without allowing an emotional response to derail your decisions, ensuring you don’t stray from the initial plan you set out for yourself before entering a position.  Is Trading Psychology Different In Crypto? Trading psychology holds true for any asset class, including crypto. Humans are all similar to a certain degree, particularly regarding money. Most people, for instance, don’t enjoy losing money and vice-versa. Additionally, traders of any asset feel excited when they’re on a hot streak.  However, there are a few unique psychological challenges crypto traders face. Unlike the stock market, which closes on weekends, the cryptocurrency market is open 24/7. As a result, crypto traders always have access to trading tools, their assets, and, most importantly, potential opportunities. For a trader who is prone to making emotionally charged trading decisions, having 24/7 access can be very costly.  The crypto market is also highly volatile. Coin prices have doubled before dropping back to where they started — all within a day. Such drastic price swings require traders to think fast while maintaining a strong sense of discipline.  For example, professional traders don’t jump onto a rapidly rising asset just because everyone is talking about it, nor do they decide to risk all their capital because the market closes green for a day. Read next: USD/JPY Is Above 133.30, GBP/USD Droped Form $1.21 to $1.20, The Aussie Pair Is Trading Below $0.69| FXMAG.COM Closing Thoughts Emotions are one of the most common pitfalls in crypto trading. Learning to control your emotions by understanding your mindset and emotional triggers is an invaluable skill that will protect you from chasing gains or hitting the panic button and liquidating your portfolio.  Ultimately, becoming a good trader requires years of consistent learning and practice. There’s no shortcut or life hack to getting rich by trading. Follow a strategy that suits your financial situation, keep practicing, and don’t let fear or greed force you to make a decision you wouldn’t usually make.  Further Reading The Psychology of Market Cycles What Is the Crypto Fear and Greed Index? What Are Behavioral Biases and How Can We Avoid Them? What Are Stop-Loss and Take-Profit Levels and How to Calculate Them? How to Trade Crypto Responsibly Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. Not financial advice

Crypto Industry News: According to the media, the president of the United States is to appoint Laela Brainard, vice chairman of the Federal Reserve, as his chief economic adviser. The problem is that it is considered a staunch enemy of cryptocurrencies. He claims these could undermine US financial stability. On the other hand, she is in favor of issuing a digital dollar that would be highly centralized and monitored by the authorities. Brainard is not someone anonymous in the Democratic community. She had previously worked at the White House, serving as deputy director of the National Economic Council (NEC). It happened during the tenure of President Bill Clinton. In 2014, she was also nominated for the position of governor of the Fed by Barack Obama. But let's get back to her attitude towards cryptocurrencies. She had previously expressed concern about the rise of decentralized finance (DeFi), saying this new technology could be exploited by criminals. At the same time, she is delighted with the idea of creating a digital dollar. She acknowledged that the US central bank is already working on such a financial product, and said that a digital version of the dollar could provide better consumer protection and monetary stability. As a consolation, we can add that she is probably not a supporter of the cryptocurrency ban. Six months ago, she appealed to the authorities to quickly regulate this market. Read next: USD/JPY Is Above 133.30, GBP/USD Droped Form $1.21 to $1.20, The Aussie Pair Is Trading Below $0.69| FXMAG.COM Technical Market Outlook: The key technical support on ETH/USD pair, which is located at $1,487 was tested by bears already and now the market is on the monthly highs trying to test the level of $1,713. The bulls had broken above the local trend line and continue to move higher towards the next target. Only a clear and sustained breakout below the level of $1,487 would change the short-term outlook to bearish, so please keep an eye on the $1,487 technical support. Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,569 WR2 - $1,541 WR1 - $1,532 Weekly Pivot - $1,513 WS1 - $1,503 WS2 - $1,484 WS3 - $1,456 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000   Relevance up to 09:00 2023-02-17 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313001

Currently on the Ethereum Cryptocurrency weekly chart there are several things that we should pay attention to, such as: 1. Sidewinder (SI) indicator in green colour which means trending and volatile once. 2. Chopzone (CZ) indicator in cyan blue which means Bullish market condition. 3, Zero Line (ZL) is green which indicates market conditions are also being bull. 4. There is a Hook on CCI (20) histogram. 5. Histogram CCI has turned green, it means that the bull is ripe. Based on the five things above, it can be concluded that in the next few days Ethereum has the potential to appreciate up to the level of 247.42 as the first target and level 430.11 as the second target, but if on its way to the targets the levels that have been described suddenly Ethereum has been corrected downwards to break below the 136.54 level, so all the bull scenarios described above will become invalid and cancel automatically   Relevance up to 06:00 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/119681

Crypto Industry News: The European Union is working on groundbreaking legislation to protect the privacy of citizens' data. Last week, the Committee on Industry, Research and Energy included zero-knowledge proof in an amendment to the Digital Identity (eID) project. Does the EU want to protect the privacy of citizens' data? On 9 February, the European Committee on Industry, Research and Energy presented amendments to the regulatory framework in the context of digital identity. Importantly, the amendment to the regulations includes a zero-knowledge proof standard. In terms of formalities - it is a cryptographic procedure in which one party can prove to the other that it is in possession of certain data without disclosing it. The committee voted to update the rules. In total, 55 votes were cast in favor and only 8 against. Subsequently, the relevant authorities will discuss the project during trilogue negotiations. Details of the project have not been made public. Despite this, the press release assured that EU citizens will be given full control over their data. In theory, they will therefore be free to decide what information can be shared and with whom. As we read in the published memo: "The new eID would enable citizens to identify and authenticate online (via a European digital identity wallet) without having to resort to commercial providers as is the case today - a practice that raises trust, security and privacy concerns." In mid-December 2022, a special research report was published on this topic. It explains in detail how zero-knowledge proof can be combined with the European electronic identity system eIDAS. Read next: USD/JPY Is Trading Close To 134.00, EUR/USD Is Remaining Above $1.07| FXMAG.COM Technical Market Outlook: The Ethereum market reversed from the monthly highs and is now in a pull-back mode. The local high was made at $1,721. The intraday technical support is seen at $1,617 (100 MA) and $1,579 (50 MA). Only a clear and sustained breakout below the level of $1,487 would change the short-term outlook to bearish, so please keep an eye on the $1,487 technical support. Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,569 WR2 - $1,541 WR1 - $1,532 Weekly Pivot - $1,513 WS1 - $1,503 WS2 - $1,484 WS3 - $1,456 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2023-02-18 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313205

On Friday, the flagship cryptocurrency started the trading day with an increase. At the time of writing, the price of BTC is trading at $23,749. In the past 24 hours, the value of the asset jumped by 8.37%. According to CoinMarketCap, over the past 24 hours, Bitcoin was trading between the low of $23,460 and the high of $25,134. On Thursday, the asset tested $25,200 for the first time since mid-June 2022. The key reason for bullish sentiment in the cryptocurrency market was the permanently declining volatility of securities and bonds, oil prices, as well as the weakening US dollar. Meanwhile, crypto investors continue to analyze the data published on Tuesday on the US Consumer Price Index (CPI). Thus, according to the US Department of Labor, the index rose by 6.4% from last month compared to January 2022 level. Experts on average predicted the January figure to fall to 6.2% from December's 6.5%. Despite the fact that the final result was worse than analysts' expectations, the US stock market began to increase followed by the crypto market. Yesterday, an important support factor for the cryptocurrency market was also the strong results of the last trading session in the US stock market. Thus, on Wednesday, The Dow Jones Industrial Average index rose by 0.11%, the S&P 500 index increased by 0.28%, and the NASDAQ Composite gained 0.92%. Since the beginning of 2022, analysts have emphasized the high level of correlation between the US stock market and digital assets against the background of the tense expectations of both the consequences of the geopolitical conflict in eastern Europe and the further steps of the US Federal Reserve. Earlier, the experts of the investment company Arcane Research have already stated that the correlation between BTC and technology securities has reached the highest level since July 2020. In addition, economists of TradingView said that the relationship of the cryptocurrency market with the US stock market in the fourth quarter of 2022 reached 70%. Read next: EUR/USD And AUD/USD Are In Downward Trend, USD/JPY Hit 135.00, GBP/USD Is Below $1.20| FXMAG.COM Altcoin market Ethereum, Bitcoin's main competitor, also started Friday with growth. At the time of writing, the asset is trading at $1,665. As for the cryptocurrencies of the top 10 by market cap, in the past 24 hours, Polygon showed the best performance, gaining 4.41%. Meanwhile, Dogecoin was the top loser and lost 4.07%. At the end of last week, all cryptocurrencies from the top ten, with the exception of some stablecoins, showed strong gains. Polygon added 13.35% and topped the rank. According to CoinGecko, the world's largest aggregator of digital asset data, over the past 24 hours, among the top 100 most capitalized digital assets, first place in the rise list went to Filecoin token, which grew by 16.18%, while Frax Share lost 10.31% and hit the bottom of the rankings. At the end of last week, Frax Share, dropping by 15.03%, was also the worst-performing digital asset in the top 100 strongest digital assets, while Astar increased by 48.61%, demonstrating the strongest growth. According to CoinGecko, as of Friday morning, the total market capitalization of cryptocurrencies was able to consolidate above the important key $1 trillion level and stands at $1.039 trillion. Despite this, it has fallen by more than three times since November 2021, when the figure exceeded $3 trillion. Relevance up to 10:00 2023-02-18 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/335449

Crypto Industry News: The Federal Reserve Bank of San Francisco is looking for software engineers to work on developing and implementing central bank digital currency (CBDC) systems. On February 18, the San Francisco Fed published a job offer for a "senior application developer - digital currency." The candidate is expected to assist the Federal Reserve in designing and implementing systems critical to CBDC research. Within 24 hours of the job posting, 45 candidates expressed interest in joining the federal government to build an internal CBDC. The Federal Reserve Bank of San Francisco (informally called the San Francisco Fed) is the federal bank of the Twelfth District of the United States. The 12th District consists of the nine western states - Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington - plus the Northern Mariana Islands, American Samoa, and Guam. The San Francisco Fed has branches in Los Angeles, Portland, Salt Lake City and Seattle. It also has a cash processing center in Phoenix. The Federal Reserve Bank of San Francisco opened for business on November 16, 1914 to implement reserve regulations under the Federal Reserve Act. Read next: Twitter And Elon Musk Faced A Growing List Of Claims| FXMAG.COM Technical Market Outlook: The Ethereum market had made a local high at the level of $1,721, pulled-back lower and is currently approaching the last week highs again. The intraday technical support is seen at $1,617 (100 MA) and $1,579 (50 MA). Only a clear and sustained breakout below the level of $1,487 would change the short-term outlook to bearish, so please keep an eye on the $1,487 technical support. Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,774 WR2 - $1,726 WR1 - $1,709 Weekly Pivot - $1,678 WS1 - $1,661 WS2 - $1,630 WS3 - $1,581 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 10:00 2023-02-21 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313331

Crypto Industry News: According to Cameron Winklevoss, an American investor and co-founder of the Gemini cryptocurrency exchange, the next cryptocurrency boom will start in Asia. His comments come amid increased enforcement actions and looming crackdowns from U.S. regulators, including the Securities and Exchange Commission. "My working thesis is that the next bull run will start in the East. It will be a humbling reminder that cryptocurrencies are a global asset class and that the West, and indeed the United States, has always had only two options: embrace them or fall behind," Winklevoss wrote on Twitter. According to Chainalysis, Central & Southern Asia and Oceania (CSAO) was the third largest cryptocurrency market in its 2022 index. Citizens of these areas held $932 billion worth of cryptocurrency between July 2021 and June 2022. CSAO was also home to seven of the top 20 countries in the 2022 index: Vietnam (1), Philippines (2), India (4), Pakistan (6), Thailand (8), Nepal (16) and Indonesia (20). In his Twitter thread, Winklevoss said that governments that don't offer clear rules and candid guidance on cryptocurrencies will be "left behind" and miss "the greatest period of growth since the advent of the commercial internet." Technical Market Outlook: The Ethereum market had made a local high at the level of $1,721 and is consolidating the recent gains close to the last week highs again. The intraday technical support is seen at $1,617 (100 MA) and $1,579 (50 MA). Only a clear and sustained breakout below the level of $1,487 would change the short-term outlook to bearish, so please keep an eye on the $1,487 technical support. Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,774 WR2 - $1,726 WR1 - $1,709 Weekly Pivot - $1,678 WS1 - $1,661 WS2 - $1,630 WS3 - $1,581 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 08:00 2023-02-22 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313473

Crypto Industry News: Hong Kong, a special administrative region of China, is aiming to become the world's cryptocurrency hub. Despite the negative and even hostile attitude of the authorities of the People's Bank of China towards digital assets, the city-state constantly focuses on the adoption of blockchain and cryptocurrencies. Moreover, the regulatory framework that the region's authorities are working on could be crucial for the sector. Can Hong Kong's actions fuel another cryptocurrency boom? Why can the adoption of digital assets by Hong Kong, and not some other jurisdiction, be the catalyst for the next bull market in the cryptocurrency market? Yesterday, the HongKong Securities and Futures Commission announced that under the new legislation, cryptocurrency exchanges will have to apply for Virtual Asset Service Providers (VASP) licenses in order to legally operate in the Chinese Special Economic Zone. Moreover, according to the commission statement, both institutional and retail investors will be able to trade digital assets such as bitcoin (BTC) and ether (ETH). "As long as the basic principle of not threatening China's financial stability is violated, Hong Kong can pursue its own goal of 'one country, two systems'," said Nick Chan, a member of the National People's Congress and a cryptocurrency lawyer. What does the above news mean? To a large extent, the re-opening of Hong Kong to the digital asset sector creates huge potential for the influx of new funds. It is worth noting that Hong Kong is the fourth largest financial center in the world. Only New York, London and Singapore are ahead of it. It is also very important that capital from China may start to flow into this economic zone. According to estimates, mainland Chinese capital is about USD 500 billion. The regulations prepared by Hong Kong do not mention anything about opening up fully to the decentralized finance (DeFi) sector or self-storage of digital assets. Nevertheless, the aforementioned injection of foreign capital to this region may have a significant impact on the cryptocurrency market. It is worth remembering that the times when China was responsible for the majority of the volume of trading in digital coins are not that far away. Technical Market Outlook: The Ethereum market had made a local high at the level of $1,721 and then reversed lower towards 38% Fibonacci retracement level seen at $1,636. The intraday technical support is seen at $1,630 (100 MA). The weak and negative momentum on the H4 time frame chart supports the short-term bearish outlook for ETH. Sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support. Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,774 WR2 - $1,726 WR1 - $1,709 Weekly Pivot - $1,678 WS1 - $1,661 WS2 - $1,630 WS3 - $1,581 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000   Relevance up to 08:00 2023-02-23 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313601

Crypto Industry News: The CEO of the Bank for International Settlements (BIS) was critical of stablecoins during his recent speech. In his opinion, this type of asset has no chance to become "money of the future". On February 22, BIS Director General Agustin Carstens appeared at the Asia Conference as a guest of the Monetary Authority of Singapore (MAS). During his speech, he devoted a lot of attention to the topic of stablecoins and CBDC. In his opinion, last year's turmoil on the cryptocurrency market resulted in the loss of confidence of the Bank for International Settlements in this sector. Moreover, he believes that stablecoins do not have the appropriate predispositions to become "money of the future". Still, central bank digital currencies and tokenized deposits are a key aspect of financial innovation, Carstens said. The head of the BIS announced that stablecoins tied to the value of other assets, such as fiat currencies, do not operate under regulatory requirements. He added that this type of assets lack collateral, which is covered, for example, by bank deposits. Supervisory authorities and regulators from around the world have repeatedly emphasized their skeptical view of stable cryptocurrencies. Their concerns about the fundamentals and use of these assets were voiced long before the Terry stablecoin crash. Recall that this event took place in May 2022. The algorithmic stablecoin - UST - then lost its rigid link to the US dollar, and its value fell to practically zero. This led to many losses in the market, which totaled about 40 billion dollars. This year, regulators announced that they intend to implement new regulations on stablecoins. They also indicate that many entities from this market, primarily issuers, will not be able to meet the new regulations. Technical Market Outlook: The Ethereum market had broken below the 38% Fibonacci retracement level seen at $1,636 and made a new local low at the level of $1,596 before the bounce had happened (the level of $1,596 will act as the intraday technical support from now on). The weak momentum on the H4 time frame chart supports the short-term bearish outlook for ETH. Sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support. Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,774 WR2 - $1,726 WR1 - $1,709 Weekly Pivot - $1,678 WS1 - $1,661 WS2 - $1,630 WS3 - $1,581 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 09:00 2023-02-24 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313794

Crypto Industry News: The American company RMS Titanic Inc (RMST) has announced that it will convert artifacts found on the famous ocean liner into NFT. This is a step taken by the company responsible for the search for missing items after establishing cooperation with two Hong Kong companies. The company responsible for salvaging items from the ship that sank in 1912 indicated in a statement that the collection of non-fungible tokens will consist of more than 5,500 physical artifacts that will be preserved digitally. Thanks to this technology, the exclusivity and authenticity of the items sold can be ensured. In addition, the creation of this collection will mark the appearance of the first Titanic collection in Web 3. "As custodians of the wreck of the Titanic, we are determined to ensure that its artifacts are preserved forever and made available for future generations. We believe that entering the digital space will allow us to reach a wider audience with high-quality programming that educates and inspires," said RMS Titanic CEO Jessica Sanders. It was also announced that VSFG will take care of the transformation of real elements into digital. In turn, Artifact Labs will be responsible for launching a Decentralized Autonomous Organization (being an algorithm-based association) focused on a luxury shipwreck. This will make it possible to organize diving trips and other activities, such as the development of educational programs. Technical Market Outlook: The Ethereum market has bounced from a local low seen at the level of $1,596 and is trading back above 100 MA around the level of $1,652. The weak momentum on the H4 time frame chart supports the short-term bearish outlook for ETH. The intraday technical resistance is seen at the level of $1,677 and $1,680 (50 DMA). Sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support. Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,774 WR2 - $1,726 WR1 - $1,709 Weekly Pivot - $1,678 WS1 - $1,661 WS2 - $1,630 WS3 - $1,581 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 10:00 2023-02-25 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313951

Crypto Industry News: Spotify, one of the largest streaming platforms in the world, is testing playlists with NFT (Non-Fungible Tokens) integration in its latest pilot program. This is another attempt to use NFT outside the art world, where tokens have become very popular as a form of collecting digital art and most likely a milestone for business and the entire cryptocurrency sector. This functionality would allow the creation of playlists that will only be available to users with the appropriate NFT token. To use it, the user would have to connect his cryptocurrency wallet such as MetaMask or TrustWallet with an account with Spotify Premium functionality (this is a paid option to subscribe to an account on this platform). This would ensure that selected playlists would only be available to a narrow, elite audience who had previously decided to purchase a given NFT (for example, belonging to a specific artist or group of artists). Among the projects taking part in the pilot program were such collection names as FLUF World (its avatars are very distinctive animated rabbits), Moonbirds (a project belonging to a well-known founder of Silicon Valley start-ups Kevin Rose), Kingship (a team belonging to the Bored Ape Yacht team Club) or Overlord. Technical Market Outlook: The Ethereum market has made a Bearish Engulfing candlestick pattern at the level of $1,664 and reversed lower to trade between the 50 and 100 MA on the H4 time frame chart. The intraday technical resistance is seen at the level of $1,677 and $1,680. Sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support (swing low). Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,672 WR2 - $1,654 WR1 - $1,642 Weekly Pivot - $1,635 WS1 - $1,624 WS2 - $1,616 WS3 - $1,581 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314281

Crypto Industry News: Daleep Singh, former US Deputy National Security Advisor in the Biden administration, spoke at the Senate Banking Committee. Like many politicians before him (and probably after him) he attacked cryptocurrencies. He stated that these facilitate ransomware attacks and contribute to the evasion of US sanctions. However, Singh believes that the US government can take some steps to help offset the negative impact of cryptocurrencies. He pointed to the need to create a central bank digital currency (CBDC), which "is the best step we can take [to protect national interests] because it would displace the cryptocurrency ecosystem." He's not the only one who thinks so. In an interview in May 2022, Franklin Noll — president of consulting firm Noll Historical Consulting — also suggested that CBDCs could displace cryptocurrencies. In his opinion, CBDCs can help "displace private cryptocurrencies", with particular emphasis on "stablecoins focused on retail payment areas". He added that cryptocurrencies will not disappear, but "will remain in the niches of the payment system." Singh and Noll's opinion, however, is something isolated in Washington salons. While China has already implemented its own CBDC - the digital yuan - the US is still only analyzing the issue. Only Project Hamilton has recently been completed. Its purpose was to explore the potential of the digital dollar. However, there is little indication that the results of these analyzes will trigger any CBDC issuance activities in the US. Critics of such a cautious policy point out that CBDCs can revolutionize e.g. international trade. Thus, China with the use of the digital yuan will be able to damage the position of the dollar as a currency commonly used for cross-border transactions. Technical Market Outlook: After the three wave down move from the level of $1,664, the Ethereum bulls manage to reverse and now are approaching the last local high level again. The intraday technical resistance is seen at the level of $1,677 and $1,680, so any breakout above this levels would open the road towards the February highs seen between $1,720 - $1,8742. On the other hand, a sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support (swing low). Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,672 WR2 - $1,654 WR1 - $1,642 Weekly Pivot - $1,635 WS1 - $1,624 WS2 - $1,616 WS3 - $1,581 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000   Relevance up to 09:00 2023-03-02 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314467

The G20 met last weekend to discuss many topics, one of which is crypto regulation. The G20, BIS, IMF and FSB are already preparing their regulation efforts. What's coming for crypto traders?   00:00 Intro 00:22 Preview 00:42 Crypto-News 03:43 Bitcoin 07:59 Ethereum 11:02 Cosmos 12:18 Solana 14:21 Subscribe & Good bye #crypto #cryptonews #cryptotrading #swissquote _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH

Crypto Industry News: Looking at the wear of the so -called 'Gas Fees' on Ethereum Glassnode indicated that the NFT market is the main increase in network activity. This market, despite the ongoing bear market and the return of uncertainty to the market, looks like it has been experiencing a 'second youth'. After a sharp decrease in user activity at the end of 2022, the total gas consumption of NFT transactions increased by 97% throughout January and February and is approaching the levels of euphoria from 2021. According to Glassnode, the main catalyst for the NFT market becomes the OpenSea, Blur platform and Ordinals on Bitcoin. The BLUR's interest led to an increase in demand for blocking space. This, in turn, caused an increase in fees for validators and more ETH burned via the EIP1559 protocol introduced in 2021. However, we are far from the fundamental, significant increase in the ETH network. Although there has been a noticeable increase in the total on-chain activity, both the growth and the number of new addresses are still 40% lower than in February 2022, and the monthly average remains below the annual signaling the maintaining negative momentum. On this basis, Glassnode formulates the conclusion that NFT's interest is more common among existing users, without a special participation of a tide of new users to the Ethereum network. This, in turn, leads to the conclusion that OpenSea competes for the share in the NFT market with Blur around the same base of users of the cryptocurrency sector. Technical Market Outlook: The ETH/USD pair has reversed from the level of $1,677 after three wave up move had been terminated with a Shooting Star candlestick pattern on H4 time frame chart.The intraday technical resistance is seen at the level of $1,677 and $1,680, so any breakout above this levels would open the road towards the February highs seen between $1,720 - $1,8742. On the other hand, a sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support (swing low). Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,672 WR2 - $1,654 WR1 - $1,642 Weekly Pivot - $1,635 WS1 - $1,624 WS2 - $1,616 WS3 - $1,581 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000   Relevance up to 08:00 2023-03-03 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314649

Employment has increased in many industries during the pandemic, but the situation has changed and many companies are announcing job cuts. Until now, mainly technology companies have significantly reduced employment, aloe has recently been joined by other industries such as banking. In this article: Layoffs in Asian investment banking The Fed renewed investors' hopes The long-awaited update of the Ethereum network in Shanghai Layoffs in Asian investment banking Global banks including Goldman Sachs and Morgan Stanley are in the process of cutting thousands of jobs. Several other financial firms have also slashed jobs in recent months, including major asset managers and fintechs, amid a turbulent macroeconomic environment that has pressured consumers and soured demand in several mainstay business units. Bank of America and Citigroup cut several jobs in investment banking in Asia, joining global partners in cutting jobs Bank of America (BofA) cut about half a dozen Hong Kong investment banking jobs on Thursday, and Citi on Thursday cut four jobs from its China investment banking team. BofA, Citi cut handful of investing banking jobs in Asia - sources https://t.co/QmatsCtb9a pic.twitter.com/vBgz0scq7B — Reuters Business (@ReutersBiz) March 3, 2023 Read next: Despite The Decline Euro Remains Above 1.06, GBP/USD Is Trading Below 1.20| FXMAG.COM The Fed renewed investors' hopes Although inflation is slowing down, the fight against it continues. Banks around the world last year raised interest rates to record levels not seen since 2008. The actions of the Fed are attracting attention. After the publication of inflation data and a series of other reports (GDP, PMI), the market expects that the Fed will decide to hike by 25 bp. Recently, Atlanta Federal Reserve Chairman Raphael Bostic told the media that he favors lower – and slower – rate hikes. On top of that, the data suggests that the labor market, somewhat astonishingly, is still solid, which could prompt the Federal Reserve to raise rates when it meets later this month. Markets opened lower after this news. The situation of interest rates has an impact on the markets, especially currency, stocks and bonds. US stocks rose on Thursday with all major indexes closing in the green. A survey by the American Chamber of Commerce in China found that its members, for the first time in 25 years, do not consider China a top three investment priority. To boost sentiment, the Chinese government is courting potential investors and declaring a "Year of Investing in China". CNBC Daily Open: Markets rallied as Fed official renewed investors' hope for 25 basis-point hike https://t.co/Q5Ofm9iGOl — CNBC (@CNBC) March 3, 2023 The long-awaited update of the Ethereum network in Shanghai The eagerly awaited Shanghai Ethereum update, which will enable the withdrawal of staked ETH, is likely to happen in the first two weeks of April. Although the update was firmly scheduled for the March release, some Ethereum developers began to doubt it. Ethereum developers now plan to launch the Goerli testnet, essentially a comprehensive update dress rehearsal, in Shanghai around March 14. About a month later, if all goes smoothly, the actual Shanghai software update will go live in mid-April. LATEST: #Ethereum developers confirm Shanghai upgrade will likely occur in April instead of March. — CoinGecko (@coingecko) March 3, 2023

Crypto Industry News: Silvergate Capital's shares fell almost in half today as the cryptocurrency bank delayed filing its annual (10K) report with the SEC. The report was due to appear in the Securities and Exchange Commission on March 16. Gary Gensler will definitely not be happy about this. The institution is still "assessing the impact of events" that have occurred since late 2022. The bank has informed investors that it may not survive the current financial turmoil. Its share price has fallen by more than 60% since the beginning of the year, despite the current wave of optimism on the stock exchanges and better moods of the cryptocurrency market itself. In February, the Department of Justice opened an investigation into Silvergate's dealings with FTX and its sister company Alameda Research. Given the growing (and costly) regulatory challenges and likely investigations by regulators, as well as business challenges (exacerbated liquidity challenges amid a crisis of confidence from customers affected by recent crypto events), the company is reassessing its business and strategy. Silvergate said it has reviewed the sale of investment securities to raise funding and is examining the impact that subsequent events may have on its ability to continue as a going concern. Preliminary unaudited financial results for 2022, filed on January 17, include a net loss of $948.7 million, compared to a net profit of $75.5 million in 2021. Silvergate's net loss in 2022 is now close to 450% higher than its total market capitalization. The company has faced many challenges since late last year, after the collapse of the FTX exchange. JPMorgan bank analysts downgraded Silvergate along with a number of other Wall Street institutions. Technical Market Outlook: The ETH/USD pair has reversed from the level of $1,677 after three wave up move had been terminated with a Shooting Star candlestick pattern on H4 time frame chart. The bears has manage to push the prices towards the key short-term technical support seen at the level of $1,558 and made the new local low at the level of $1,542. The intraday technical resistance is seen at the level of $1,677 and $1,680. A sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support (swing low). Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,672 WR2 - $1,654 WR1 - $1,642 Weekly Pivot - $1,635 WS1 - $1,624 WS2 - $1,616 WS3 - $1,581 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2023-03-04 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314790

The constant development and increase in popularity of the cryptocurrency market causes many changes. Changes in the cryptocurrency market appear as quickly as they disappear. In this article: The end of Silvergate Exchange Network A bad manager Burning cryptocurrencies The end of Silvergate Exchange Network Silvergate Exchange Network, one of the bank's most popular offerings, enabled 24/7 transfers between investors and crypto exchanges, unlike traditional wire transfers, which can often take days to clear. Silvergate Capital Corp said on Friday it had made a risk-based decision to discontinue the Silvergate Exchange Network, two days after the digital asset-focused bank expressed doubts about its viability. Coinbase Global Inc and Galaxy Digital have dropped Silvergate as their banking partner. Stablecoin issuers Paxos and Circle, digital asset exchange Cboe, and cryptocurrency exchanges Bitstamp and Gemini have also suspended cooperation with Silvergate. Bitcoin and other cryptocurrencies plummeted, one day after a crisis arose around Silvergate Capital, one of the most influential banks in the digital asset industry https://t.co/pYGv8ZKSA3 pic.twitter.com/sQ30lzXs83 — Reuters Business (@ReutersBiz) March 5, 2023 A bad manager Many factors influence whether we want to work in a given company or not. The main factor is earnings, then working conditions and the composition of the team is also included in the working conditions. A Gallup survey of over 7,000 American adults found that 50 percent of people leave their jobs to get away from their boss to improve their overall life at some point in their careers. The same study found that for most employees, managers fail at developing their employees' strengths, providing consistent feedback, and setting clear performance goals. Many employees have been in this situation before: the projects are addictive and the co-workers are great, but the relationship with the boss makes you miss 5:00 So what behaviors of managers evoke the greatest ire of employees? The cardinal sin, according to their subordinates, is playing favorites. Staff were also keen to leave the bullying to the schoolyard. Bosses who informally threatened to fire employees were deemed as bad as those who chose favorites Bosses who exploit their position for monetary or sexual rewards are also highly disliked. 50% of people have quit because of a bad manager — here are the 10 boss behaviors workers hate most. (via @CNBCMakeIt) https://t.co/CzK6SO9buT — CNBC (@CNBC) March 5, 2023 Burning cryptocurrencies The cryptocurrency market is evolving and with it new methods and concepts will appear. Burning cryptocurrencies involves destroying project tokens or coins by sending them to the burning address. Destroyed tokens are usually removed from circulation and cannot be used or traded in the future. There are different ways to burn tokens, depending on the project's technology and community decisions. Burning tokens can increase the value of a cryptocurrency by reducing the supply of tokens in circulation. In general, when there are fewer tokens in circulation and the demand remains the same, the price per token is likely to increase. This is one of many reasons, but it may be the main one. Token burning is a popular mechanism used by cryptocurrencies to manage their supply and increase their value. The process consists in permanently removing part of the cryptocurrency tokens from circulation. While burning coins can have several advantages, including reducing inflation and increasing the value of the remaining tokens, it also has its disadvantages, such as permanently deleting assets and needing multiple tokens to make an impact. What does it mean to burn #crypto? 🔥 Here's a beginner-friendly guide on how it works, the pros and cons of burning tokens, and examples of token burns ⤵️https://t.co/3aUay2yFZ3 — CoinGecko (@coingecko) March 5, 2023

Crypto Industry News: Supported by Warren Buffett Nubank based in Brazil, he announced the introduction of Nucoin's own cryptocurrency. The token, which is issued in the Polygon network, will be handed over to customers of institutions as part of Airdrop. According to media reports, Nucoin will be one of the foundations of the Cashback program, in which users will receive prizes in the form of tokens. In addition, the bank's internal lottery will also be used, which will also use the token. Importantly, Nucoin will not go to the cryptocurrency exchange, because all transactions concluded with it will only be available on the Nubank platform. It is not known how much the initial price of the token will be - as long as it is set at all. According to the media, Nubank will not stop at the activities listed above. He also examines other options for using cryptocurrencies, including staking programs that will allow clients to block their Nucoins to receive more units at a certain time or get more fate for a bank lottery. Apparently, in the future there will also be an option to replace Nucoins with cash via the platform. Technical Market Outlook: The bears on the Ethereum market has manage to push the prices towards the key short-term technical support seen at the level of $1,558 and made the new local low at the level of $1,542. THe market has been seen trading horizontally since then, however no major spike up was made yet. The intraday technical resistance is seen at the level of $1,677 and $1,680. A sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support (swing low). Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,597 WR2 - $1,577 WR1 - $1,568 Weekly Pivot - $1,560 WS1 - $1,550 WS2 - $1,542 WS3 - $1,524 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2023-03-07 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314988

TL;DR The increasing popularity of crypto and blockchain has led to developers seeking a way to scale by improving a system’s ability to accommodate the growing demand. Sharding, sidechains, state channels, and rollups are some approaches to scaling. Blockchain rollups offload certain transaction processes to a secondary chain while storing transaction data on the main Layer 1 blockchain. In this article, we explore the two types of rollups in the crypto space – optimistic and zero-knowledge. Introduction Due to rising crypto demand, some blockchains’ abilities are tested to their limits. This could lead to network congestion and expensive transaction costs. To address this, scaling solutions are being developed and tested to increase transaction throughput and speed. Such solutions can be categorized into two groups: Layer 1 and Layer 2. Layer 1 scaling solutions like sharding make changes directly to the main blockchain (also known as a base or Layer 1 blockchain). Layer 2 scaling solutions run on top of a Layer 1 blockchain. Examples of Layer 2 scaling solutions include state channels, sidechains, and blockchain rollups. Blockchain rollups are protocols designed to enable high throughput and lower costs. They aim to fix the problem many popular blockchains face by bundling transactions and reducing data size for more efficient transaction processing and storage. Learn more on Binance.com What Are Blockchain Rollups? Rollups are a Layer 2 solution that bundles up transaction data and transfers it off the main chain (or Layer 1 blockchain). Transaction execution is then performed off-chain, while assets are held in an on-chain smart contract. The transaction data will be sent back to the main blockchain upon completion. Theoretically, any Layer 1 solution can implement rollups to increase transaction efficiency in terms of throughput. With rollups, a blockchain can increase the number of transactions processed and recorded within a certain timeframe. Presently, there are two types of rollups – optimistic rollups and zero-knowledge (zk) rollups. What Is an Optimistic Rollup? Optimistic rollups are protocols that increase transaction output by bundling multiple transactions into batches, which are processed off-chain. After that, the transaction data is recorded on the main chain with data compression techniques that help lower cost and increase speed. According to Ethereum, optimistic rollups can improve scalability by 10 to 100 times. How do optimistic rollups validate transactions? Transactions are valid by default to increase efficiency. You may wonder if this would compromise security in favor of transaction processing speeds. However, optimistic rollups use a fraud-proving scheme, with a dispute-resolution period known as a ‘challenge period.’ Within this period, anyone monitoring the rollup can submit a challenge to verify if the transaction has been processed accurately through a fraud proof. If that batch is found to have errors, the rollup protocol will rectify them by re-executing the wrong transaction(s) and updating the block. Parties who approve incorrect transactions for execution will be penalized. Limitations of optimistic rollups While there isn’t a transaction validation process, there is a challenge period that zk rollups do not have, which increases the time taken for transactions to be finalized. The finality of chains with optimistic rollups is also lower than that of zk rollups. Finality is the measure of how long a user has to wait for a reasonable guarantee that the transactions will not be reversed or altered. Withdrawals on optimistic rollups are delayed as the challenge period needs to lapse before funds can be released. In contrast, withdrawals from zk rollup take effect as soon as the zk rollup smart contract verifies the validity proof. Some people also view optimistic rollups as less efficient than zk rollups. With optimistic rollups, all transaction data must be posted on-chain to finalize transactions. With the zk counterparts, only validity proofs are required on-chain. What Is a Zero-Knowledge (zk) Rollup? Zero-knowledge rollups are protocols that bundle transactions into batches to be executed off the main chain. For every batch, a zk rollup operator will submit a summary of the required changes once the transactions in the batch have been executed. Operators have an additional role in producing validity proofs to prove that the changes are accurate. These proofs are significantly smaller than transaction data; therefore verifying them is quicker and cheaper. On Ethereum, zk rollups reduce transaction data via compression techniques when writing transactions to Ethereum as calldata, effectively reducing user fees. How do zk rollups validate transactions? Zk rollups use zero-knowledge proofs (ZKP) to validate transactions. ZKPs are used by someone called a prover who wants to convince another party, known as a verifier, that they possess knowledge, thereby verifying a transaction. This is how it works: The prover provides a mathematical proof that only they can generate. The verifier uses this mathematical proof to verify the validity of the transaction. The information can receive validity proof without revealing the contents to the verifier. Benefits of zk rollups Zk rollups can offer a high level of security for users if implemented properly. One key feature contributing to this security is the use of zero-knowledge validity proofs. They ensure that the network can only function in a valid state and that operators cannot steal user funds or corrupt the system in any way. Another benefit of zk rollups is that users don't need to monitor the network. Zk rollups store all data on-chain and require validity proofs. Therefore an operator can't cheat, and users don't have to worry about network misbehavior. Additionally, zk rollups let users withdraw their funds onto the mainnet without having to cooperate with operators by proving token ownership via data availability. Similar to optimistic rollups, zk rollups also implement an off-chain execution mechanism to increase transaction execution speeds. Differences Between zk Rollups and Optimistic Rollups Below is a summary of the differences between optimistic and zk rollups. What’s the Future of Zero-knowledge & Optimistic Rollups? The future of zero-knowledge and optimistic rollups is still a question mark. As more people adopt crypto and blockchain, rollups may play a vital role in improving blockchain efficiency. Blockchains will likely continue to test various scaling solutions, including sharding, rollups, and layer 0. We could also see new solutions being created and implemented, either along with or instead of rollups. Closing Thoughts Since the demand for crypto has increased and stretched the limits of current blockchains, many have proposed different scaling solutions. In this article, we examined the inherent differences between two varieties of rollups, optimistic and zk rollups. As rollups continue being battle-tested, we may eventually see a superior variety that could help us reach scalability for mass adoption. Further Reading Blockchain Layer 1 vs. Layer 2 Scaling Solutions zk-SNARKs and zk-STARKs Explained What Is Zero-knowledge Proof and How Does It Impact Blockchain? Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. Not financial advice

Crypto Industry News: There is just over a month left until the ETH Shanghai update, so you can expect more investor movements on this cryptocurrency. Some Ethereum holders may want to sell their crypto while others are getting ready to buy with increased turnover. There are voices that a hard fork can raise the ETH rate, but there must still be a favorable atmosphere on the broad market. Sleeping whale - the holder of 10,266 pieces of Ethereum moved them from his wallet at Circle Internet Financial and began transferring them to other wallets, including exchanges. This situation has not gone unnoticed by careful researchers. According to a blockchain explorer, the whale's ported wallet was mined in 2017. The whale also sent 1322 ETH to the cryptocurrency exchange. As a result of Silvergate's problems, the price of Ethereum, the second largest cryptocurrency, is under strong selling pressure. Investors are wary of re-entering the market after Silvergate's recent papers raised the specter of the company's collapse. Technical Market Outlook: The bears on the Ethereum market has manage to push the prices towards the key short-term technical support seen at the level of $1,558 and made the new local low at the level of $1,542. The market has been seen trading horizontally since then, however no major spike up was made yet. The intraday technical resistance is seen at the level of $1,677 and $1,680. A sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support (swing low). Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,597 WR2 - $1,577 WR1 - $1,568 Weekly Pivot - $1,560 WS1 - $1,550 WS2 - $1,542 WS3 - $1,524 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2023-03-08 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315150

Crypto Industry News: Law enforcement in Singapore has reportedly launched an investigation against Terraform Labs, co-founded by Do Kwon. The authorities also estimated that the 31-year-old developer is not hiding in the country. The collapse of the native token LUNA and its algorithmic stablecoin UST was one of the "darkest" events in crypto last year. The stablecoin, which was supposed to have a fixed price of $1, lost its exchange rate against the dollar in May 2022 and fell well below its target value. Realizing the turmoil, investors began selling their UST reserves. This resulted in the minting of more LUNAs to stabilize the free fall, greatly increasing the supply of the native coin. In the end, both assets lost virtually all of their value in a matter of days, resulting in multi-billion dollar losses for investors and a wide market decline that echoed for months. Affected investors and numerous institutions accused Do Kwon, co-founder of Terraform Labs, of complicity in the collapse. However, he was uncooperative and allegedly left South Korea to avoid the consequences of the alleged fraud. Technical Market Outlook: The bears on the Ethereum market has manage to push the prices towards the key short-term technical support seen at the level of $1,558 and made the new local low at the level of $1,542. The market has been seen trading horizontally since then, but the bearish pressure is increasing and traders might see the breakout soon. The intraday technical resistance is seen at the level of $1,677 and $1,680. A sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support (swing low). Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,597 WR2 - $1,577 WR1 - $1,568 Weekly Pivot - $1,560 WS1 - $1,550 WS2 - $1,542 WS3 - $1,524 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2023-03-09 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315318

Crypto Industry News: The Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain, an organization representing the Russian cryptocurrency and blockchain technology market, appealed to President Vladimir Putin himself for help in creating regulations for the industry. Experts fear that the Russian Federation may lag behind other countries in this matter. In a letter to the Russian head of state, members of the organization warn that the government's approach to regulating the digital asset market poses "serious risks" related to the economy's lagging behind "new financial technologies." The association argues that the current state policy does not allow Russian companies to use the potential of new financial instruments. Moreover, it forces them to relocate to other jurisdictions. This entails direct financial losses for the state treasury. This "extremely conservative and prohibitive approach" could cause Russia's "digital economy" to slow down. Such a turn of events, in turn, "will deprive the country of the opportunity to become a leader in the implementation of digital payment and accounting systems." The letter sent to the president also reminded about the meeting with IT associations that took place in 2019. New regulations were discussed at that time. Although there were plans to establish regulatory sandboxes, these ideas were not implemented. In turn, the proposed changes to the Russian law "On Digital Financial Assets" make it difficult to implement innovative solutions on the market. But what exactly do Russian experts demand? They ask the president to convene a meeting on all the issues mentioned. They also suggest establishing a working group that would prepare a pilot project to introduce digital financial technologies to the domestic market. Technical Market Outlook: The bears on the Ethereum market has made the new local low at the level of $1,525 as the bearish pressure is increasing. The intraday technical resistance is seen at the level of $1,677 and $1,680. A sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support (swing low). Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,597 WR2 - $1,577 WR1 - $1,568 Weekly Pivot - $1,560 WS1 - $1,550 WS2 - $1,542 WS3 - $1,524 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 08:00 2023-03-10 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315472

TL;DR Decentralized finance (DeFi) protocols offer decentralized financial services via smart contracts and charge fees for those services. When a DeFi project’s revenue increases, it attracts more users and liquidity. Introduction Choosing between different DeFi protocols can take plenty of time and effort. Many seem similar, so how do we know which one is the best for generating passive income from our crypto? An essential step is understanding a platform’s revenue and how much of it is shared with its users. You can then use this information to make an informed decision on where to invest your assets. Learn more on Binance.com How DeFi Protocols Function Decentralized finance (DeFi) protocols offer a range of financial services that operate via smart contracts. For example, a DeFi protocol could offer decentralized exchange services, loans, and liquidity pools, all run via smart contracts on a blockchain. All you need to access and use these services is a wallet and some crypto to cover your transaction fees. There’s almost no limit to the financial services DeFi can offer. You can access exchange services, money markets, derivatives, and savings products in the DeFi world. All of these services are permissionless and disintermediated in nature. How DeFi Protocols Generate Revenue DeFi services’ operating costs come from the computing power needed to run smart contracts. Users typically cover this amount with the gas fees they pay. However, there are also other additional costs for services such as development and maintenance.  DeFi protocols charge fees for their services to cover these costs and generate a profit. Decentralized exchanges (DEXs) Users swapping tokens on a DEX must pay a fee to utilize its services. For example, a trade may incur a 0.3% fee for the DEX operator's treasury or liquidity reserves. Lending protocols Users who borrow from a lending protocol must pay a borrowing fee. Some of this will go to paying the liquidity provider (other users who have provided capital), while the rest will go to the protocol. Why Revenue Is Important Beyond covering a protocol’s costs, improved revenue and profits can also benefit stakers. DeFi projects often maintain a revenue-sharing model via their governance token holders. They also may use revenues to increase APRs for stakers or liquidity providers on their platforms.  For DEXs, higher revenue can attract more users and in turn, improve liquidity. It can also boost APY for yield aggregators if they benefit from combining users’ staked funds for “bribes” as network validators. To summarize, we can describe a project’s inflows and revenues in a circular fashion: Popular projects attract liquidity, which attracts more users and forms a virtuous cycle. Higher trading traffic and liquidity lead to lower slippage and faster execution. More users improve legitimate trading volume, which leads to more revenue. Revenue is shared with staked users, which provides more liquidity. This loop also attracts users who want to engage in yield farming. Those looking to invest their money can increase their chances of maximizing their gains with compound interest. The more successful a project is, the more liquidity and, in turn, the more yield farmers it will attract. This process generates more revenue that can be used to improve a protocol’s offering. How to See How Much DeFi Protocols Generate DeFi operates on-chain, which means almost all transactional information — depending on the blockchain used — is verifiable. Blockchain explorer is easily accessible by everyone, but that doesn’t mean we can always understand the extent of a protocol’s revenue. There are a number of blockchain data aggregators that simplify the task so you can better understand each protocol’s revenue. With a Google search and some research from trusted sources, you should be able to find metrics, revenues, and stats on DeFi protocols’ revenues. These figures can help you make more informed investment decisions. Closing Thoughts Revenue is a crucial metric to study, whether you’re looking at a project’s real yield or basic fundamentals. You can wisely invest only if you understand how a protocol generates and shares its revenue. You can further understand the topic by diving into DeFi 2.0, yield farming, and general financial topics on Binance Academy. Further Reading What Is Yield Farming in Decentralized Finance (DeFi)? | Binance Academy What Is DeFi 2.0 and Why Does it Matter? | Binance Academy Introduction to DeFi | Binance Academy   Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.  

Crypto Industry News: Several jurisdictions around the world have stepped up their efforts to regulate the digital asset industry. Also in Germany, the financial watchdog has issued guidance on the regulatory treatment of cryptocurrencies, including for anti-money laundering and anti-terrorist financing purposes. The German Financial Supervisory Authority (BaFin) has confirmed that NFTs are not securities. In a recently released statement, officials argued that digital asset ownership tokens were for speculation only. Therefore, they do not qualify as an investment vehicle. They argue that NFTs have so far not exhibited characteristics similar to financial securities such as shares, which prevents them from being considered securities in the regulatory sense. So far, BaFin is not aware of any NFTs that could be classified as securities in the regulatory sense. However, the regulator also added that perhaps in the future, NFTs could qualify as a security: "If NFTs are to be classified as securities under the EU Prospectus Regulation or as investments under the Asset Investment Act (VermAnlG), a prospectus must always be prepared." In Europe, all eyes are on MiCA. The final vote on the long-awaited EU set of crypto rules is touted as the first comprehensive European crypto framework. It excludes provisions for NFTs. However, last summer, European Commission adviser Peter Kerstens suggested that NFT issuers could potentially be equated with crypto service providers. This will require them to regularly report on their activities to the European Securities and Markets Authority. Technical Market Outlook: The bears on the Ethereum market has made the new local low at the level of $1,391 after they broke below the technical support seen at $1,487. A sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support (swing low). Any violation of this level would likely extend the drop towards $1,345, which is the next technical support for bulls. Weekly Pivot Points: WR3 - $1,597 WR2 - $1,577 WR1 - $1,568 Weekly Pivot - $1,560 WS1 - $1,550 WS2 - $1,542 WS3 - $1,524 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2023-03-11 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315662

TL;DR The crypto and blockchain world can be intimidating for those wanting to start their journey. The ever-evolving nature of blockchain and the sheer amount of information often overwhelm beginners. Finding a community of like-minded people can be a great way to get you started in the crypto space. Introduction Web3 is a term describing the next iteration of the World Wide Web. It differs from its predecessor, Web2, as it’s built on fundamental principles of decentralization, trustless collaboration, censorship resistance, and ownership. Web3 applications allow users to interact or exchange data without the need for intermediaries. While we aren’t exactly living in a Web3 world quite yet, there’s a community of people that are aiming to make that happen. Developers, investors, influencers, and other crypto enthusiasts have been working on a variety of Web3 projects, from infrastructure to decentralized apps (DApps). Crypto communities are composed of people who are passionate about crypto. Community members could bond over their love for NFTs, DeFi, Layer 2 solutions, and all things crypto-related. Crypto communities are essential for sharing knowledge, and blockchains like Bitcoin, BNB Chain, and Ethereum typically have their own communities. Relatively technical concepts, such as mining or Proof of Work (PoW), have become common knowledge thanks to the efforts of these crypto communities in creating more accessible information. Through their collective advancement of knowledge and education, crypto communities have proven to be a significant driving force for the blockchain industry. Due to the borderless nature of crypto, communities often exist online and communicate through discussion forums, chat rooms, and social media. For example, the crypto Twitter community is a niche group of investors, developers, companies, and influencers, each championing their own crypto cause on the platform. Staying updated Joining a crypto community is an excellent way to stay updated on new trends, technologies, concepts, products, and tools. This allows you to make more informed decisions and participate in time-sensitive events. Finding a mentor Throughout your research, have you ever encountered complex technical papers or Web3 publications? Being in a community of developers, crypto entrepreneurs, and other experts can help make certain topics easier to understand and research. Gaining an edge As part of an active community, you are given an edge by having access to the latest information that is yet to be widely known. You can gain insight into developing trends and learn from people with similar experiences. Additionally, a community's collective wisdom can help you make better decisions, network with other professionals, and stay updated on industry developments. Customer service Some communities have official administrators and managers. Rather than struggle alone, investors can receive direct feedback and assistance from members and administrators alike. Starting a business Informal conversations between community members could be the driving force behind new innovations. You can share business insights, discuss opinions, and exchange information through casual chats. Within a community, you might even find your future team members or business partners. Sense of belonging Are you team Layer 1 or Layer 2? Do you have a favorite NFT artist? Even if you’re the only crypto nerd in your friend circle, you’re bound to find others like you. Explore projects and forums As mentioned above, most projects and blockchains have their own established communities. To be part of the action, visit their websites or socials – including Telegram, Twitter, Discord, or Facebook. Alternatively, if you’re entering the crypto space alone with no specific community in mind, Reddit could also be a place to start. Reddit is an online forum where crypto enthusiasts can read crypto news, view user-submitted analyses, and participate in discussions. Some of the crypto communities on Reddit include /r/bitcoin, /r/btc, /r/binance, and /r/cryptocurrency. Be vocal Engaging in online conversations with others through the comments section of relevant crypto posts can be an easy way to find like-minded people. Share your opinions and interests; start engaging in discussions and activities. Enroll in classes Look for a Web3 course that interests you. Online or offline, the classroom can be a great place to start meaningful discussions about Web3 and form new connections.  Meetups Attending a blockchain or crypto-related meetup, participating in an online discussion forum, or joining a social media group are great ways to connect with knowledgeable people. Some blockchain events facilitate networking parties, business matchmaking, and AMAs. Participating in these can help you gain exposure and meet new community members. Contribute to a project or cause Find a community that thrives on participating in the development of crypto. The blockchain ecosystem is collaborative by nature – its tenets of borderlessness, open-source, decentralization, and trustlessness all help to foster collaboration.  Many projects in the crypto space adopt an open-source approach, where the source code used to build their technology is available to the public and can be modified to a degree. This allows community members to provide solutions and innovations faster. One such community is GitHub, an online platform that facilitates collaboration between developers and users. It allows developers to share code and work together on open-source projects. Users can also discuss ideas, give feedback, and offer assistance. Platforms like GitHub also organize events such as hackathons and meetings to promote community involvement. It’s also not uncommon for projects to launch incentive-based events called bounty programs to encourage people to contribute to their growth. What Are the Risks in Crypto Communities? Like any other online community, crypto communities come with their own risks. One of the main risks associated with crypto communities is the potential for fraud. As mentioned, communities are often open to anyone. This means that scammers and bots can join the group. For example, you may receive a direct message from someone claiming to be a group admin. Do take extra care to verify that this is not a scammer trying to get your money. Scammers may try to get your personal information or private keys through a malicious link or other types of cryptocurrency scams. There is also the risk that the community will differ from what you initially expected. For example, the community may be based solely on hype to drive up token prices. This can create a culture of greed and speculation that may differ greatly from the original reason you joined the community. Similarly, crypto communities can be filled with misinformation, making it difficult to separate facts. Therefore, be careful when making investment decisions based on community conversations.   Conclusion Depending on your interests and experience, there are many ways to join a crypto community. Whether pursuing a personal financial goal, a new business venture, or an unfamiliar topic to learn, having a community to collaborate with can be helpful. Share insights, form a network of like-minded individuals, and grow from each others’ mistakes. You could even find your future business team! From bouncing ideas off each other to providing moral support, having people to help you is crucial for success. Further Reading How to Set Personal Financial Goals and Reach Them Crypto vs Stocks: What Is The Difference? Top 7 Technologies that Power the Metaverse What Is Web 3.0 and Why Does It Matter? Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions, and Binance Academy is not liable for any losses you may incur. Not financial advice. For more information, see our Terms of Use and Risk Warning.

Crypto Industry News: The executives of California-based Silvergate Bank, a financial intermediary for the cryptocurrency industry that recently filed for bankruptcy and went into liquidation, sold shares worth more than $103 million in total at the peak of the crypto bull market. Former CEO Dennis Frank "worked out" about 25% of that statistic by selling nearly 189,000 shares between March and November 2021. President Frank's average selling price was $140 apiece. Other insiders selling at the top include vice chief executive Derek Eisele, chief executive officer Alan Lane, chief strategist Ben Reynolds and chief operating officer Kathleen Fraher. According to data from the insider trading service OpenInsider, insiders were selling their shares for an average of $133 per share. The value of the shares cashed in at the top is 4% of the company's average market capitalization of $3.6 billion during the highs of the cryptocurrency market. It is worth noting that some insiders bought stocks at a time when the bull market was in full swing, such as CEO Lane and CEO Thomas Dircks. They spent a total of nearly $250,000 on stocks in November 2019. Lane later sold nearly 178,000 shares for $18.6 million between June 2021 and July 2022. Silvergate's leadership, however, was not alone in its action. Insiders at other leading cryptocurrency companies, including Signature, MicroStrategy, Block (formerly Square), and cryptocurrency mining companies like Marathon and Riot, sold around $661.4 million in stocks as markets peaked during the recent bull market . Technical Market Outlook: The ETH/USD pair had bounced from the level of $1,369, located just above the key short-term technical support and is currently testing the short-term trend line resistance seen around the level of $1,633. The 50 DMA is seen at the level of $1,598, so any daily candle close above this level might be bullish in the short-term for ETH. The positive momentum on the daily time frame chart supports the short-term bullish bias for ETH. Weekly Pivot Points: WR3 - $1,709 WR2 - $1,656 WR1 - $1,629 Weekly Pivot - $1,603 WS1 - $1,575 WS2 - $1,550 WS3 - $1,497 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 10:00 2023-03-14 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315834

Crypto Industry News: The Ethereum-based non-trust lending protocol Eurler Finance faced a flash loan attack where the attacker managed to steal nearly $200 million in various cryptocurrencies. According to data on the chain, according to the last update, the attacker has carried out many transactions, stealing almost 196 million dollars. The ongoing attack has already become the biggest hack of 2023. According to the crypto-analytical company Meta Seluth, the attack correlates with the deflationary attack from a month ago. The hacker used a multi-chain bridge to transfer funds from BNB Smart Chain (BSC) to Ethereum and launched the attack today. ZachXBT, another prominent on-chain detective, added that the flow of funds and the nature of the attack seems quite similar to the black hats that used the BSC-based protocol last month. After using the protocol in BSC, the funds were deposited in the Tornado Cash cryptocurrency mixer. Euler Finance admitted to the hack and said it is currently working with security specialists and law enforcement to resolve the issue. Technical Market Outlook: The ETH/USD pair had bounced from the level of $1,369, located just above the key short-term technical support and is currently approaching the monthly highs seen at the level of $1,742. The last daily candle close was above the 50 DMA, so this is a very bullish indication. The intraday technical support comes with the help of 50 MA seen at $1,619 and 100 MA seen at $1,644. The positive momentum on the daily time frame chart supports the short-term bullish bias for ETH. Weekly Pivot Points: WR3 - $1,709 WR2 - $1,656 WR1 - $1,629 Weekly Pivot - $1,603 WS1 - $1,575 WS2 - $1,550 WS3 - $1,497 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2023-03-15 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315991