Markets

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...

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Solana price started a fresh decline from the $32.00 resistance zone against the US Dollar. The price is now trading below $31 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $30.60 on the 4-hours chart of the SOL/USD pair (data feed from Coinbase). The pair could extend losses if there is a clear move below the $29.50 support zone. Solana price is trading below $32 against the US Dollar, similar to bitcoin. SOL...

Bitcoin price started a fresh increase above the $19,000 zone against the US Dollar. The price is now trading above $19,100 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $19,520 on the 4-hours chart of the BTC/USD pair (data feed from Coinbase). The pair could continue to rise if there is a clear move above $19,550 level. Bitcoin price is rising above $19,000 against the US Dollar. BTC might gain bullish...

Bitcoin has made its first appearance in the Guinness World Records, now officially honored as the “first decentralized cryptocurrency.” Its inclusion was part of a larger category labeled “cryptomania”, under which many other blockchain-related phenomena were mentioned.  Famous Crypto Records According to the latest edition of the reference book, Bitcoin is the “oldest,” “most valuable,” and “first-decentralized” cryptocurrency.  Since its first-of-a-kind creation in 2009,...

Mike McGlone, a senior commodity strategist at Bloomberg Intelligence, believes Bitcoin is at its most discounted price on a 100-week and 200-week moving average. He also predicted that the crypto asset would trade 5x its current price in five to ten years. During a recent interview with Stansberry Research, McGlone opined that Bitcoin is getting pounded by the Federal Reserve and so is at its most discounted price.  Bitcoin Will Trade at $100k  The Bloomberg strategist is...