Easing monetary policies, the decline of inflation, the change in Bitcoin's mining difficulty, and growing confidence in DeFi are factors that point to a renewed surge for crypto prices.
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Cardano (ADA) eyes 15% rally despite Charles Hoskinson's fear over 'macro factors'
Cardano (ADA) will undergo a major network update called "Vasil" on Sept. 22, potentially making its blockchain more scalable and cheaper. Nonetheless, the news has failed to spark any decisive upside momentum in ADA's market.
Macro factors weigh on ADA's best upside scenario
In detail, ADA's price has risen approximately 3.5% to $0.51 since the Vasil launch announcement, including a circa 14% rally followed by its near-perfect wipeout. In other words, traders initially bought the Vasil hype but were quick to exit markets, as illustrated by the price action below.
ADA/USD four-hour price chart. Source: TradingViewCardano Founder Charles Hoskinson blamed "macro factors" for ADA's underperformance despite the Vasil euphoria, noting that the crypto markets, on the whole, are "disconnected from reality." He added:
"Cardano has never been stronger and frankly many other projects are also solid across the industry, yet you don't see that reflected — just a sea of red."
The statements appeared as riskier assets prepared for another deep plunge in the days leading up to the Federal Open Market Committee's (FOMC) meeting on Sept. 20 through Sept. 21.
Cardano (ADA) eyes 15% rally despite Charles Hoskinson's fear over 'macro factors'
Cardano (ADA) will undergo a major network update called "Vasil" on Sept. 22, potentially making its blockchain more scalable and cheaper. Nonetheless, the news has failed to spark any decisive upside momentum in ADA's market.
Macro factors weigh on ADA's best upside scenario
In detail, ADA's price has risen approximately 3.5% to $0.51 since the Vasil launch announcement, including a circa 14% rally followed by its near-perfect wipeout. In other words, traders initially bought the Vasil hype but were quick to exit markets, as illustrated by the price action below.
ADA/USD four-hour price chart. Source: TradingViewCardano founder Charles Hoskinson blamed "macro factors" for ADA's underperformance despite the Vasil euphoria, noting that the crypto markets, on the whole, are "disconnected from reality." He added:
"Cardano has never been stronger and frankly many other projects are also solid across the industry, yet you don't see that reflected — just a sea of red."
The statements appeared as riskier assets prepared for another deep plunge in the days leading up to the Federal Open Market Committee's (FOMC) meeting on Sept. 20 through 21.
Why Prince Philip of Serbia is bullish on Bitcoin (not crypto)
In an exclusive interview with Cointelegraph, Prince Philip Karageorgevitch, Hereditary Prince of Serbia and Yugoslavia, explains his reason for being bullish on Bitcoin
Why Prince Philip of Serbia is bullish on Bitcoin (not crypto)
In an exclusive interview with Cointelegraph, Prince Philip Karageorgevitch, Hereditary Prince of Serbia and Yugoslavia, explains his reason for being bullish on Bitcoin
Number of unique BAYC buyers plunged in August to second-lowest on record
Only 263 unique buyers purchased a piece of the popular NFT collection.
Bitcoin price hits 10-week low amid 'painful' US dollar rally warning
The dollar is overdue for a correction, which will briefly send risk assets, including crypto, "flying," one analyst concludes.
Bitcoin price hits 10-week low amid 'painful' US dollar rally warning
Bitcoin (BTC) provided a long awaited breakout into Sept. 7 as BTC price action dashed bulls’ hopes of a recovery.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView$23,000 relief bounce "still likely" says trader
Data from Cointelegraph Markets Pro and TradingView captured snap losses for BTC/USD later on Sept. 6, with overnight lows coming in at $18,540 on Bitstamp.
The pair put in its lowest levels since June 30, taking liquidity from the July floor and only marginally recovering on the day.
BTC/USD 1-day candle chart (Bitstamp). Source: TradingViewDownside price action followed almost a week of sideways movements and volatility was nowhere to be seen as market participants gritted their teeth hoping for an exit to the upside.
In the event, they were left disappointed, but for popular trader Il Capo of Crypto, there was still reason to believe that a relief bounce would occur.
How high transaction fees are being tackled in the blockchain ecosystem
A look at why gas fees can be so expensive and the different ways platforms and users are tackling the high costs.
How high transaction fees are being tackled in the blockchain ecosystem
A look at why gas fees can be so expensive and the different ways platforms and users are tackling the high costs.
Mt. Gox creditors fail to set repayment date, but markets to remain unaffected
While a Bitcoin price dip may not be on the cards anytime soon, intriguing new details regarding the Mt. Gox saga have continued to emerge over the past week.
ETC Group launches crypto ETP based on PoW Ethereum hard fork
ETC Group will continue to rely on Ethereum’s original PoW consensus for its current Ethereum ETP, the firm announced on Wednesday.
ETC Group launches crypto ETP based on PoW Ethereum hard fork
ETC Group will continue to rely on Ethereum’s original PoW consensus for its current Ethereum ETP, the firm announced on Wednesday.
Powers On… Insider trading with crypto is targeted — Finally! Part 1
It took a few years, but government crackdowns on “insider trading” involving digital assets have finally arrived. It’s about time! Insider trading occurs often in our securities markets, so it was only a matter of time before crypto and other digital assets would be exploited improperly by miscreants for financial gain.
Powers On… is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an adjunct professor at Florida International University College of Law, where he teaches “Blockchain & the Law.”
Back on June 1, the U.S. attorney for the Southern District of New York announced a criminal indictment against a former product manager of the OpenSea marketplace, Nathaniel Chastain. He is charged with using the confidential information about which nonfungible tokens were going to be featured on OpenSea’s homepage to buy them in advance of that event, and then sell them after they were featured. It is alleged that to conceal the fraud, Chastain conducted these purchases and sales using various digital wallets and accounts on the platform. He is charged with wire fraud and money laundering through making approximately 45 NFT purchases on 11 different occasions between June and September 2021, selling the NFTs for 2x to 5x his cost.
Powers On… Insider trading with crypto is targeted — Finally! Part 1
It took a few years, but government crackdowns on “insider trading” involving digital assets have finally arrived. It’s about time! Insider trading occurs often in our securities markets, so it was only a matter of time before crypto and other digital assets would be exploited improperly by miscreants for financial gain.
Powers On… is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an adjunct professor at Florida International University College of Law, where he teaches “Blockchain & the Law.”
Back on June 1, the U.S. attorney for the Southern District of New York announced a criminal indictment against a former product manager of the OpenSea marketplace, Nathaniel Chastain. He is charged with using the confidential information about which nonfungible tokens were going to be featured on OpenSea’s homepage to buy them in advance of that event, and then sell them after they were featured. It is alleged that to conceal the fraud, Chastain conducted these purchases and sales using various digital wallets and accounts on the platform. He is charged with wire fraud and money laundering through making approximately 45 NFT purchases on 11 different occasions between June and September 2021, selling the NFTs for 2x to 5x his cost.
Powers On… Insider trading with crypto is targeted — Finally! Part 1
It took a few years, but government crackdowns on “insider trading” involving digital assets have finally arrived. It’s about time! Insider trading occurs often in our securities markets, so it was only a matter of time before crypto and other digital assets would be exploited improperly by miscreants for financial gain.
Powers On… is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an adjunct professor at Florida International University College of Law, where he teaches “Blockchain & the Law.”
Back on June 1, the U.S. attorney for the Southern District of New York announced a criminal indictment against a former product manager of the OpenSea marketplace, Nathaniel Chastain. He is charged with using the confidential information about which nonfungible tokens were going to be featured on OpenSea’s homepage to buy them in advance of that event, and then sell them after they were featured. It is alleged that to conceal the fraud, Chastain conducted these purchases and sales using various digital wallets and accounts on the platform. He is charged with wire fraud and money laundering through making approximately 45 NFT purchases on 11 different occasions between June and September 2021, selling the NFTs for 2x to 5x his cost.