Latest Market News
It seems that the cryptocurrency market has shrugged off last week’s US Infrastructure Bill taxation after surging 16% on the week to climb above the 200-day EMA level and create the first higher high structure seen since before the mid-May market collapse.
As we move through Q3, a number of projects are moving ahead with continued development, and this week’s choices are set to benefit from significant updates and announcements that should strengthen their market positions and benefit their communities. The news should also result in increased amounts of attention to each respective currency over the coming weeks.
Leading cryptocurrency exchange Binance continues scaling back its offering as it attempts to better comply with regulatory regimes across the globe. In its latest update, Binance announced that it is winding down its cryptocurrency derivatives products for residents of Hong Kong.
Ethereum is up by a very powerful 19% this week as the cryptocurrency managed to reach as high as $3,000 yesterday. The coin is trending inside an ascending price channel and has been inside this pattern since July 20th.
The U.S. cryptocurrency industry is currently fighting against against the details of a tax provision in the mammoth $1 billion infrastructure bill that’s currently being discussed in the U.S. senate.
A crucially important upgrade for the Ethereum network and of the most anticipated upgrades in the cryptocurrency sector this year has gone live hours ago. The so-called ‘London Hard Fork’, which went live at block number 129650000 is a giant leap towards Ethereum 2.0.
CryptoQuant, one of the leaders in providing a comprehensive market analytics product suite, has recently successfully completed its latest investment round during which it managed to raise $3 million. Hashed, one of the top venture capital firms that primarily focuses on blockchain projects, was among the leading investors.
This week, Ripple Labs, Inc. scored an important procedural victory in the lawsuit with the Securities and Exchange Commission (SEC). The judge has granted the payment company access to Binance’s records, which could prove that the Ripple CEO Brad Garinhhouse was acting outside the SEC’s legal authority.
During the Twitter Q2 investor’s call on Thursday, Twitter CEO Jack Dorsey pointed out that Bitcoin is the “best candidate” to become the “native currency” of the internet and that it will be a “big part” of Twitter’s future. He envisions that Bitcoin will play a hugely important role in Twitter’s future and urged shareholders to aggressively pursue involvement in the cryptocurrency space.
Electric Coin Company CEO Zooko Wilcox-O’Hearn is advocating for the privacy-focused Zcash cryptocurrency to transition from its current Proof-of-Work consensus mechanism to Proof-of-Stake.
