Cryptocurrency Daily Thefoxposts.com

The US economy performed better than expected in September 2023, despite the onslaught initiated by BRICS against the dollar. The greenback is rising against all local currencies from the BRICS alliance, putting pressure on their import and export sectors. The recent development forms a contradiction to speculations of a recession as the economy is experiencing a slight recovery. Also Read: BRICS : Oil Prices Remain Under Pressure as U.S. Dollar Strengthens The job reports came above expectations, strengthening the US dollar against all other currencies in the foreign exchange markets. Now that the American economy is experiencing a slight relief, Bank of America CEO Brian Moynihan predicts the future of the US economy. BRICS: Bank of America CEO On the Future of the US Economy Source: NBC News The BOA CEO, Brian Moynihan, highlights that the bank’s financial strategists are expecting a soft landing for the US economy rather than a recession. “We won’t have a recession,”

Sandeep Nailwal revealed in an X post today that Google Cloud has become a validator in the Polygon network. At press time, MATIC’s price stood at $0.5225 following a 0.48% 24-hour gain. From a technical perspective, MATIC was able to break above a medium-term negative trend line over the past few days. The founder of Polygon (MATIC), Sandeep Nailwal, revealed in an X post today that Google Cloud has become a validator in the Polygon network. According to the post, the same infrastructure used to power YouTube and GMAIL is now helping to secure the fast, low-cost, Ethereum-for-all Polygon protocol. Google cloud becomes a @0xPolygon validator!! https://t.co/17ao1cWxpU — Sandeep Nailwal | sandeep. polygon (@sandeepnailwal) September 29, 2023 This recent development was able to have a slight positive impact on MATIC’s price over the past 24 hours. CoinMarketCap data indicated that the altcoin was trading hands at $0.5255 after it increased 0.48% during the past

In a surprising turn of events, the burn rate of the meme-inspired CRYPTOCURRENCY Shiba Inu ($ SHIB ) has skyrocketed by an astonishing 940% within 24 hours. This surge in the burn rate translates to over 164 million SHIB tokens being sent to “ dead wallets ,” effectively removing them from the circulating supply . According to data obtained from the burn tracking platform Shibburn, these substantial burns took place across 50 transactions, with one particularly noteworthy transaction incinerating a staggering 100 million SHIB tokens, significantly contributing to the surge in burn rate. This surge in burn rate coincides with heightened activity in the Shiba Inu ecosystem’s layer-2 scaling solution, known as Shibarium. The network has recently witnessed a surge in transaction levels, achieving a new all-time high shortly after its reactivation. Data from Shibarium network explorer Shibariumscan reveals that the Shibarium network’s transactions have surpassed the two million mar

The Musée d’Orsay in Paris, which houses the world’s largest collection of Impressionist and Post-Impressionist artworks, is minting non-fungible tokens (NFTs) dedicated to Vincent Van Gogh’s final months.  From Oct. 4, these NFTs will be available for purchase in partnership with the Tezos. There will be two types of NFTs, with 2,300 minted for each class on Tezos. One NFT will provide an augmented reality experience of Van Gogh’s final palette, while the other will be an original digital artwork created by French artist KERU, inspired by Van Gogh’s style. You might also like: British Museum embraces digital collectibles with The Sandbox partnership NFT holders will have the opportunity to win prizes like lifetime museum passes and invitations to museum events. These NFTs are digital souvenirs affiliated with the upcoming  “Van Gogh in Auvers-sur-Oise: The Final Months”  exhibition on Oct. 3.  Starting in 2024, the museum intends to invite digital artists who work wit

The recent Bitmain WDMS conference featured discussions among publicly listed Bitcoin miners who challenged the prevailing sentiment that Bitcoin miners selling their rewards is bearish for the cryptocurrency. Analysts, traders, and influencers often use miner behavior as a sentiment gauge for Bitcoin’s price direction, with the belief that miners sending rewards to exchanges signals impending sell pressure and miner distress. At the conference, Jeff Taylor, the Executive Vice President of Data Center Operations at Core Scientific, shared his company’s strategy. He highlighted that Core Scientific follows a “hodl strategy,” amassing a significant Bitcoin hoard during a previous bull market. However, this approach led to financial difficulties. Consequently, they now sell their Bitcoin production daily to stabilize profitability. Taylor emphasized the importance of cost reduction, efficiency improvement, and financial innovations in a miner’s strategy. Panelists Taylor Monnig fr

A renowned crypto strategist has recently put Chainlink (LINK) under the microscope, suggesting potential upward momentum . Kevin Svenson, who boasts a following of 70,700 YouTube enthusiasts, believes that Chainlink might soon see the end of its prolonged downward stride. Significantly, this assumption comes after LINK surpassed a pivotal long-term marker. Svenson elaborates, “We’ve ascended above the 500-day SMA, which is the longest moving average we’ve observed. This crossover by Chainlink is telling. Typically, transcending these extensive SMAs indicates an overarching shift in dynamics.” Besides this, Svenson interprets Chainlink’s current movement as a preliminary reversal signal. Consequently, he speculates a situation where this Ethereum (ETH)-anchored altcoin retains its optimistic vigor in the imminent future, soaring towards its overarching resistance. However, Svenson remarks that LINK probably requires an extended period before genuinely adopting a bullish demeanor.

In an unprecedented show of unity, members of Congress from both sides of the aisle have joined forces to send a resounding message to Securities and Exchange Commission (SEC) Chair Gary Gensler. Their collective plea: the approval of Bitcoin (BTC) spot exchange-traded funds (ETFs) and an end to discriminatory practices within the cryptocurrency market. These influential letters, dispatched before Gensler’s pivotal appearance before the House Financial Services Committee, underscore the dire need for equitable treatment and heightened investor protection within the burgeoning crypto landscape. The first missive, bearing the signatures of representatives Tom Emmer, Mike Flood, Wiley Nickel, and Ritchie Torres, highlights the SEC ’s weighty responsibility. They stress that the SEC must guarantee the fulfillment of Investor Protection standards while facilitating access to cutting-edge investment instruments. These lawmakers reference the recent Grayscale vs. SEC case, where the Unit

Cryptocurrency investment products have faced six consecutive weeks of out flows , totaling $9 million in the past week. However, amidst this trend, products offering exposure to Litecoin ($LTC), Solana ($SOL), and $XRP have witnessed significant in flows , marking a noteworthy development in the CRYPTOCURRENCY market. According to CoinShares’ recently released Digital Asset Fund Flows report, the past week saw relatively modest trading volumes, totaling $820 million for these products, falling short of the $1.3 billion average. While Bitcoin investment products experienced out flows of $5.9 million and Ethereum investment products saw $2.2 million of out flows , some altcoin-focused products bucked the trend. Products focusing on a diverse range of cryptocurrencies experienced $400,000 in outflows. In contrast, products offering investors exposure to $XRP saw a substantial $700,000 inflows. Similarly, Solana-focused products attracted $300,000 in inflows, and Litecoin-focused p

Péter Szilágyi, a prominent software engineer known for developing Geth, a widely used Ethereum client, has weighed in on the ongoing debate about Ethereum’s processing speed. Contrary to the belief that Geth’s dominance is the primary factor behind Ethereum’s perceived slowness, Szilágyi argues that several factors influence the platform’s performance. Geth’s Prominence in Ethereum Geth is the most popular Ethereum client , commanding over 55% of the total client market share, alongside competitors like Nethermind and Erigon. This client allows users to interact with the Ethereum network and facilitates the deployment of full nodes. Full Nodes and Decentralizatio Full nodes play a crucial role in Ethereum’s network by downloading and storing a complete copy of the Ethereum blockchain. This capability enables them to independently verify transactions and blocks, contributing to the platform’s decentralization and enhancing reliability. Challenging Misconceptions One prevailing a

On September 26, the crypto market in the United Kingdom (UK) stumbled into a supposed communication by Chase Bank UK, addressing the compulsive halt of every payment related to crypto currencies, entitled: “Our policy around crypto is changing.” The message said: “If we think you are making a payment related to crypto assets, we will decline it.” — Chase Bank UK. This information was supposedly shared via an email and signed by “The Chase Team”. In this line, the news was spreading fast among various media outlets and social networks, such as X (formerly Twitter). Cryptocurrency Almost 90% of SHIB investors are holding a losing position Finance 2 mounting recession indicators to watch Cryptocurrency BitBoy Crypto supposedly holds $80 million in XRP, yet asks community for donations Cryptocurrency US national debt is 33 times higher than total crypto market cap Cryptocurrency This sma

The US Securities and Exchange Commission (SEC) flouted calls from four congressman to ”immediately” approve spot Bitcoin ETFs and delayed until early next year a decision on an application by ARK 21 Shares. It also deferred a decision on a Bitcoin ETF application from fund manager Global X until at least November, indicating that the regulator is also likely to delay decisions that may have been made as early as next month on applications by BlackRock, WisdomTree, Invesco Galaxy, Valkyrie, Bitwise, VanEck and Fidelity. That would be a big setback for the crypto industry, which is banking on the approval of spot crypto ETFs to boost demand and help pull prices out of a funk. There was growing optimism of an early approval after Grayscale Investments won a landmark victory over the SEC when a judge called the regulator’s decision to approve Bitcoin Futures ETS, but not spot Bitcoin ETFs, ”arbitrary and capricious.” Former SEC chair Jay Clayton says the approval of spot Bitcoin ETFs i

Kraken has secured a virtual asset service provider registration in Spain, marking another significant step for cryptocurrency exchanges expanding operations in Europe. Crypto exchanges have recently been intensifying their efforts to expand within the European region. Kraken, one of the prominent global crypto exchanges, has made significant strides in this direction. The exchange announced that it has secured a virtual asset service provider registration in Spain, granted by the country’s central bank. This move will soon permit Kraken to provide crypto exchange and custodial wallet services to Spanish residents, enhancing the accessibility and convenience of cryptocurrency transactions for them. In a parallel development, Kraken’s Irish subsidiary has successfully obtained an e-money institution (EMI) license in Ireland. This license, issued by the Irish central bank, paves the way for the exchange to amplify its Euro fiat services, enabling closer collaborations with banks

VeChain was trading at $0.011 in September 2020 and skyrocketed six months later in April 2021, reaching an all-time high of $0.28. VET was among the top-performing cryptocurrencies during that period, as the bull run ignited altcoins to rally in the charts. However, the bull run was short-lived as VET began dipping in the charts thereon, but it provided opportunities for investors to accumulate the token at lower prices. Also Read: Shiba Inu Forecasted To Delete 2 ‘Zeroes’, Spike 1,500% & Hit $0.0001 So if you invested $100 every week in VeChain from 2020 until today, would you be in profit or loss? In this article, we will highlight how much money you could have made or lost if you consistently poured in $100 every week in VET for three years. VeChain: How Much Money Could You Have Made If You Invested $100 Every Week in VET? Source: Image Credit: Romolo Tavani / Shutterstock.com / azocleantech.com VeChain is currently trading at $0.016 and is more or less closer t

Three years ago, Michael Saylor, the visionary co-founder of MicroStrategy, unveiled a ‘Bitcoin Initiative’ – a corporate strategy aimed at acquiring and steadfastly holding Bitcoin (BTC). Since then, MicroStrategy has been steadily accumulating BTC regardless of market conditions, becoming the largest publicly listed corporate holder of the maiden cryptocurrency. Last month, Saylor’s company continued its aggressive approach, buying an additional 5,445 BTC for around $150 million, a regulatory filing published on September 25 revealed. The average purchase price for this investment was around $27,053 per BTC, the company said in the filing.  The move brought MicroStrategy’s total BTC holdings to around 158,245 coins, with an aggregate buy price of $4.68 billion and an average purchase price per Bitcoin of $29,582.  MicroStrategy’s Bitcoin investment unprofitable Cryptocurrency Watch: BitBoy Crypto gets arrested while streaming live (video) Cryptoc

HTX (formerly Huobi Global) was hacked for $8 million as a hacker stole 5,000 Ether (ETH). Justin Sun confirmed the hack today, noting the exchange offered the hacker a 5% “white hat bonus” to return the loot. HTX (formerly Huobi Global) is the latest cryptocurrency exchange to fall victim to hackers after attackers stole $8 million worth of crypto.  The incident was first highlighted by blockchain security and analytics platform Cyvers, which alerted the Huobi Global team to the attack involving 4,999 Ether (ETH) drained from one of the exchange’s hot wallets.  🚨Red Code🚨Yesterday, our ML-powered system detected a suspicious transaction involving @HuobiGlobal and @HTX_Global. Despite our attempts to reach out, we received no response. An EOA received 5K $ETH $7.9M from @HuobiGlobal's hot wallet. 🔍 This morning, we spotted… pic.twitter.com/3oqHhAVi8P — 🚨 Cyvers Alerts 🚨 (@CyversAlerts) September 25, 2023 Justin Sun says user funds are SAFU

The Terra Classic community has decided to halt the minting and re-minting of USTC. The Terra Classic community is taking steps to re-peg USTC to USD. Terra’s former CEO is facing legal trouble after SEC charges. Terra Classic USD (USTC) will no longer be minting or re-minted, according to a recent vote by the Terra LUNA Classic (LUNC) community. A proposal was published on September 14 that suggested the cessation of all minting and re-minting of USTC without the approval of the Terra Classic community. Moreover, the proposal suggested the elimination of “loopholes,” such as converting xUST to mint USTC. Furthermore, the Terra Classic community has voted to pay Algo Quant, an algorithmic trading firm, to re-peg USTC to USD. USTC was an algorithmic stablecoin that lost its peg to the American dollar after its $44 billion collapse in 2022. Another term on the proposal was that the Terra Classic community would participate in the burning of USTC to facilita

Cream Finance’s native token, CREAM, has experienced a 60% price surge, making it the star of the weekend in the decentralized finance (defi) sector. Per data from CoinMarketCap, captured by blockchain analysts Lookonchain, the price of Cream Finance’s CREAM token surged by more than 60% on Sept. 23. CREAM price chart | Source: CoinMarketCap via Lookonchain According to Lookonchain, the token’s impressive rise is primarily credited to Jeffrey Huang, better known as Machi Big Brother, whose strategic maneuvers in the crypto market have been the subject of past controversies. The price of $CREAM surged by 60% today. Machi Big Brother withdrew 215,236 $CREAM ($4.04M) from #Cream. Instead of selling it right away, he chose to stake it once more. It appears that @machibigbrother holds a long-term bullish on $CREAM.https://t.co/yLS4TA1GkM pic.twitter.com/FBBT1x1s3H — Lookonchain (@lookonchain) September 24, 2023 Lookonchain’s assertions were corroborated by fellow on-chain data anal

SkyBridge Capital founder Anthony Scaramucci expects the launch of a Bitcoin (BTC) exchange-traded fund (ETF) to act as a catalyst, driving the coin’s price higher . Scaramucci suggested that a spot Bitcoin ETF may be approved as soon as the first quarter of next year. This development could spur a bull market into action, he explains. Here’s what the former White House Communications director recently told The Wolf of All Streets’ Scott Melker: As a Wall Streeter, products on Wall Street are sold, they are not bought. And so there’s going to be tens of thousands, if not a 100,000+ people at these Wall Street firms selling these products to their traditional investors. So people that are in Bitcoin understand the finite supply of Bitcoin, understand the nature and the quality that Bitcoin has. This will push Bitcoin up and of course, it will have a dramatically positive effect on the altcoin market because it will lead to more capital into digital properties. SkyBridge Capital

Google Cloud’s BigQuery public datasets now include 11 new blockchains. Polygon, Avalanche, Tron and Polkadot are among the new networks added to the program. Google has enhanced its cloud computing unit’s blockchain data offering by expanding its ‘BigQuery’ program to 11 new blockchains. In an announcement on Friday, Google Cloud said the 11 networks comprise of “the most in-demand blockchains” and add to the data sets for Bitcoin, Ethereum, Litecoin and Dogecoin among others. Google Cloud’s BigQuery adds 11 new chains Blockchains added to the BigQuery public datasets include Polygon, Tron, Polkadot, Avalanche, Arbitrum, and Ethereum (Görli). Others are Cronos, Fantom (Opera), Near, and Optimism. According to Google Cloud, this expansion allows for scalable data processing, with developers able to retrieve on-chain data off-chain and without having to query the blockchain directly. “ We’re doing this because blockchain foundations, Web3 analytics firms,