crypto blog
Ethereum miners dump 30K ETH, stonewalling ‘ultra sound money’ deflation narrative
Ethereum’s switch to proof-of-stake (PoS) on Sept. 15 failed to extend Ether’s (ETH) upside momentum as ETH miners added sell pressure to the market. On the daily chart, ETH price declined from around $1,650 on Sept. 15 to around $1,350 on Sept. 20, an almost 16% drop. The ETH/USD pair dropped in sync with other top cryptocurrencies, including Bitcoin (BTC), amid worries about higher Federal Reserve rate hikes. ETH/USD daily price chart. Source: TradingView Ethereum remains inflationary The Ether price drop on Sept. 15 also coincided with an increase in ETH supply, albeit not immediately post-Merge. $ETH is now Ultra Sound Money pic.twitter.com/fKz6VmoWdR — DavidHoffman.eth (@TrustlessState) September 15, 2022 Roughly 24 hours later, the supply change flipped positi...
Metaverse Technology Company Peer Inc. Partners with Fresh Consulting to Bring the AR Metaverse to Market
Seattle, Washington, United States, 20th September, 2022, Chainwire Peer Inc., a metaverse technology company, has entered a new partnership with Seattle-based innovation agency <a title="Fresh Consulting” href=”https://www.freshconsulting.com/” rel=”nofollow noopener”>Fresh Consulting. Peer will be working with Fresh to deliver on its <a title="vision of a gamified digital layer on top of the world” href=”https://coinstack.substack.com/p/the-metaverse-for-augmented-reality” rel=”nofollow noopener”>vision of a gamified digital layer on top of the world, and support its mission to bring people and content into the metaverse. Fresh will provide an elite team of engineers, developers, designers, and strategists ...
‘FED sledgehammer’ will further batter BTC, ETH prices — Bloomberg analyst
The United States Federal Reserve’s inflation “sledgehammer” is about to batter the prices of Bitcoin (BTC) and Ether (ETH) down even further, before reaching back to new all-time highs in 2025, according to Bloomberg analyst Mike McGlone. Ahead of the latest Fed interest rate hike to be announced this week, the market is expecting a minimum of a 75-basis-point increase, however some fear it could be as high as 100 basis points, which would represent the biggest rate hike in 40 years. Speaking with financial news outlet Kitco News on Saturday, McGlone, senior commodity strategist of Bloomberg Intelligence, suggested that further market carnage is on the cards for BTC, ETH and the broader crypto sector as Fed’s actions will continue to dampen investor sentiment: “We have to turn over to the...
Nifty News: The Sandbox hosts its first wedding, Hollywood actor auctions NFT of eye and more
Decentralized blockchain-based metaverse The Sandbox has held its first hybrid digital and real-life wedding on its metaverse. The bride and groom, Singaporean couple Joanne Tham and Clarence Chan, CEO of music company Bandwagon, celebrated their matrimony on Saturday in a “70s disco glam” themed wedding, which took place in a digital replica of Singapore’s famous Alkaff Mansion. ❤️ A @TheSandboxGame wedding just happened a few hours ago. Congratulations @clarcrypto ! A special thank you to @borgetsebastien . A feature video dropping today. @thecobbleland #wedding #metaverse pic.twitter.com/141o915Hew — Smobler Studios (@smoblerstudios) September 17, 2022 While the couple was physically present at a real-world hotel venue along with some guests, their digital avat...
Ethereum co-founder Vitalik Buterin shares vision for layer-3 protocols
While Ethereum-based layer-2 solutions have been focused on hyperscaling the network, Ethereum co-founder Vitalik Buterin believes layer 3s will serve a far different purpose — providing “customized functionality.” Buterin shared his thoughts in a Saturday post, providing three “visions” of what layer 3s will be used for in the future. The Ethereum co-founder said a third layer on the blockchain makes sense only if it provides a different function to layer 2s, which have been used mainly to enhance scaling via zero-knowledge (zk) Rollup technology: “A three-layer scaling architecture that consists of stacking the same scaling scheme on top of itself generally does not work well. Rollups on top of rollups, where the two layers of rollups use the same technology, certainly do not....
DeFi platform sees strong interest in halal-approved crypto products
Australian-based crypto platform Marhaba DeFi says there has been a strong take-up of Halal-approved cryptocurrency products on its platform, with aims to release a suite of new products which align with Islamic law by the end of 2022. Launched in 2020, the platform is focused on adhering to the rules of “Islamic finance” which refers to how businesses and individuals raise capital in accordance with Sharia, or Islamic law. Speaking to Cointelegraph, Marhaba DeFi founder and CEO Naquib Mohammed said active users of their noncustodial multichain Sahal Wallet have grown to around 40,000 since its launch, stating: “People need a platform where they can trust every token they interact with, so we don’t have to go hunting on different platforms, tapping into different [Islamic] scholars or expe...
Long the Bitcoin bottom, or watch and wait? Bitcoin traders plan their next move
Bitcoin (BTC) faced a 9% correction in the early hours of Sept. 19 as the price traded down to $18,270. Even though the price quickly bounced back above $19,000, this level was the lowest price seen in three months. However, pro traders held their ground and were not inclined to take the loss, as measured by derivatives contracts. Bitcoin/USD price index, 2-hour. Source: TradingView Pinpointing the rationale behind the crash is extremely difficult, but some say United States President Joe Biden’s interview on CBS “60 Minutes” raised concerns about global warfare. When responding to whether U.S. forces would defend Taiwan in the event of a China-led invasion, Biden replied: “Yes, if in fact, there was an unprecedented attack.” Others cite China’s central ...
CFTC commissioner visits Ripple offices as decision in SEC case looms
Caroline Pham, one of five commissioners at the United States Commodity Futures Trading Commission, or CFTC, met with Ripple CEO Brad Garlinghouse ahead of a court decision which could affect how regulators handle XRP tokens. In a Monday tweet, Pham said she visited Ripple Labs’ offices as part of a “learning tour” involving crypto and blockchain. Garlinghouse later tweeted that the commissioner’s visit was related to “public-private engagement” — likely referring to a privately funded company like Ripple engaging with U.S. regulators. The next stop on my learning tour was visiting @Ripple Labs. Thanks @bgarlinghouse! #XRP #crypto #blockchain pic.twitter.com/ICr8H2ZE3q — Caroline D. Pham (@CarolineDPham) September 19, 2022 The timing of Pham’s visit had many on social media reacting to the...
P2E gamers, minors not any safer from the tax man, says Koinly
Modern parents are going to need to keep an even closer eye on their kids’ gaming habits, as some of them may be accumulating a hefty tax bill, according to a crypto tax specialist. Speaking to Cointelegraph during last week’s Australian Crypto Convention, Adam Saville-Brown, regional head of tax software firm Koinly said that many don’t realize that earnings from play-to-earn (P2E) games can be subject to tax consequences in the same way as crypto trading and investing. This is particularly true for play-to-earn blockchain games that offer in-game tokens that can be traded on exchanges and thus have real-world financial value. “Parents were once worried about their kids’ playing games like GTA, with violence […] but parents now need to be aware of a whole new level […] tax complexit...
The market isn’t surging anytime soon — so get used to dark times
Global markets are going through a tough period — including the cryptocurrency market. But judging by talk from the peanut gallery, it seems like some observers haven’t received the memo. “Feel like we’re relatively safe through mid-terms,” Twitter’s “CryptoKaleo” — also known simply as “Kaleo” — wrote in a Sept. 12 tweet to his 535,000 followers, referring to the United State’s November mid-term elections. The prediction was accompanied by a chart indicating his belief that Bitcoin’s (BTC) price would surge to $34,000 — a 50% gain from its roughly $20,000 level as of last week — before the end of the year. “Of course we can bleed lower,” fellow pseudonymous Twitter mega-influencer Pentoshi wrote in a Sept. 9 missive to his 611,000 followers. “But the market at this value...
GRNGrid secures 50 million USD investment Commitment from GEM Digital
ZUG, SWITZERLAND, 19th September, 2022, Chainwire The GRN Association announced today that it has secured an investment totaling $50M for the GRNGrid project from GEM Digital Limited, a venture capital focused on digital currencies. About GRNGrid GRNGrid is an environmentally friendly, scalable, and stable Layer 1 blockchain, with novel DeFi features. On GRNGrid, users have the choice to only use nodes running exclusively on renewable energy for their transactions. GRNGrid’s renewable energy partners, who specialize in data center and hosting facilities, have shown keen interest in running Grid’s nodes as validators. With their help, the company can kickstart the availability, speed, and sustainability of GRNGrid in Q2 2023. GRNGrid’s novel features as GRNPay and Exnode will also encourage...
Huobi Global to List Inery Token on September 28th, 2022
Singapore, Singapore, 19th September, 2022, Chainwire Inery, a decentralized data system, announces the official listing of its token on Huobi Exchange is set to go live on September 28, 2022. Huobi Exchange is one of the world’s leading crypto exchanges, supporting over 1000 trading pairs and more than 600 cryptocurrencies. Inery takes a different approach to decentralizing data and data management for both Web2 and Web3 companies while streamlining the shift to the decentralized web. Inery ecosystem is curated to enable decentralized data management by integrating blockchain functionalities like immutability, security, and owner-controlled data assets with the distributed database properties to enable high performance, low network latency, and complex query functions. The ecosystem is se...
