“Indecision and lack of buying above $20,000 are pushing Bitcoin to test its recent lows,” Joe DiPasquale, CEO of BitBull Capital, wrote in an email, adding optimistically: “If we do drop sharply, the price may bottom soon and put up a nice rally. However, most bulls may be scared out of their longs before that happens.” Author: James Rubin Source link
Despite the market downturn, this month the sector saw important advances such as the Ethereum merge– a landmark event where Ethereum switched to the Proof-of-Stake (PoS) consensus mechanism, with an aim to significantly lower Ethereum’s high carbon footprint. Meanwhile, larger brands like e-commerce firm Flipkart and coffee chain Starbucks have partnered with Polygon to enter the web3 market. Many protocols, like Aave, The Graph, Fantom have emerged as key players in the Decentralised Finance (DeFi) – a version of finance that does away with traditional obstacles to conducting finance. Earlier…
As one of the oldest entertainment industries in existence, the music business has experienced many technological advances that enhanced widespread adoption. The digitalization of music meant that artists could reach any audience across the world, and digital distribution gifted people with unlimited access to music. With these advances in distribution came some drawbacks in music monetization. The way musicians make money in a digital format has reduced margins from media or video revenue. Artists have been pushed back to generating revenue from offline endeavors like concerts and selling merchandise as…
BNB price creates mixed feelings on the high timeframe as price forms a descending triangle on the daily chart while an ascending triangle forms on the weekly chart. BNB looks more stable as the price aims to flip the $340 resistance to set up a bullish sentiment. The price action of the Binance Coin (BNB) continues to look strong despite the price forming a bilateral chart pattern on the daily and weekly timeframe. Surprisingly Bitcoin (BTC) movement in a range has had little effect on the price of Binance Coin…
New draft legislation on stablecoins in the United States House of Representatives proposed to impose a two-year ban on new algorithmically pegged stablecoins like TerraUSD (UST). The proposed legislation would require the Department of the Treasury to conduct a study of stablecoins similar to UST in collaboration with the United States Federal Reserve, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Securities and Exchange Commission. An algorithmic stablecoin is a digital asset the value of which is kept steady by an algorithm. While…