Crypto news

Grayscale’s lawsuit against the SEC has started gaining traction as prominent names from the crypto industry rallied behind the asset manager. The latest one to chime in is Coinbase. The cryptocurrency exchange has filed an amicus brief backing Grayscale Investment’s lawsuit against the United States Securities and Exchange Commission (SEC) for disapproving the company’s proposal for a spot Bitcoin ETF application earlier this year. “Double Standards” In its battle against...

Mike McGlone – Senior Commodity Strategist for Bloomberg Intelligence – recently suggested that Bitcoin could be entering its “unstoppable maturation” stage as a nascent technology. The strategist also characterized Bitcoin as a possible leading market indicator, which could currently be signaling an end to Federal Reserve rate hikes.  Bitcoin as Global Collateral As McGlone explained in a post over LinkedIn, crude oil has risen back to $84 per barrel, which “may indicate the...

Binance announced updates to the deposit and withdrawal fees for LUNC and USTC on the Terra Classic network. This comes after the community passed proposal 5234, first presented by Akujiro, to lower the tax burn from 1.2% to 0.2% and take 10% of the collected seigniorage and add it to the community pool at the end of the epoch. The proposal received 75% votes in affirmation as validators and other members of the community supported it based on Binance CEO CZ’s recommendation...

A billion-dollar crypto money laundering case in China has come to an end. Authorities say they busted an illicit group of money launderers who used a total of 40 billion yuan (roughly $5.6 billion in USD) to purchase digital currency funds. China Is the Center of a Major Crypto Money Laundering Case Arrests of over 90 individuals alleged to have been involved in the case recently occurred in the county of Hengyang, which is centered in China’s southern province of Huna....

The inflation rate in the United Kingdom surpassed 10% for the first time in the past 40 years. Local economists warn that the figures could rise to 11% in the following months, driven by soaring food and fuel prices. What does it mean for Bitcoin, though? Unseen Inflation in the Last 40 Years The past few years have been rather problematic for the UK and its economy. At the beginning of 2020, the country left the European Union after 52% of the locals voted in favor of...

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Ripple is currently in a correction following the recent positive price action. At the time of writing, XRP has lost around 17% of its value in the last ten days after failing to break above a long-lasting resistance level. Technical Analysis By Grizzly The Daily Chart XRP began its decline after failing to break through the overhead resistance zone at $0.5-$0.55 (in red) in two separate attempts. As a result, the bullish momentum faded, leading the pair into a symmetrical...

Over the course of the last month, Ethereum has adopted a sinusoidal pattern. Sellers defended the $1,400, while buyers were protecting $1,200 strongly. After reaching a peak at $2030 on August 23, the overall structure remains negative. Technical Analysis By Grizzly The Daily Chart The price is moving in a narrow range on the daily chart against the US dollar, resulting in minimal change in the overall trend. Furthermore, on a larger scale, the pair is clearly declining in a...

Bitcoin’s price continues to trade sideways as no big movements in either direction have taken place. As of this writing, the $18K and $20K levels are yet to be broken. Technical Analysis By: Edris The Daily Chart On the daily timeframe, the price recently retested the broken, bearish trendline and the $18K support level. These levels provided enough support to prevent another dip toward lower prices. However, the 50-day moving average located at around $19K is persisting as...

With inflation at an all-time high and running rampant like never before, it appears crypto at least has some sort of voice regardless of how thin or quiet it might be. Inflation Is Getting Worse and Worse Inflation has gone crazy under incompetent leaders like Joe Biden. As a result, fiat currencies all over the world from USD to the euro to the pound have suffered greatly, and the Fed has been forced into a position of continually having to hike rates. This has led to...