Ethereum Plugs 11-Week Bleed, why $1,500 May Be On The Horizon

Ethereum has been closing red week after red week for the past 11 weeks. It is the longest red streak that has been recorded in the history of the cryptocurrency, hence, it carried significant implications for the digital asset. Through the decline, it has been one of the worst-hit coins, performing poorly compared to the other cryptocurrencies at this time. However, the digital asset has now closed its first weekly green candle in three months and things are looking up. Better Days Ahead With this recovery has come a renewed…

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Key Bitcoin price metrics say BTC bottomed, but traders still fear a drop to $10K

The crypto market is currently going through a period of heightened volatility as global economic conditions continue to worsen amid a backdrop of rising inflation and interest rates.  As the headwinds impacting global financial markets beat down all traces of bullish sentiment, many crypto investors are predicting that Bitcoin (BTC) price could drop to as low as $10,000 before a market bottom is found. BTC/USDT 1-day chart. Source: TradingView While many traders scoffed at the idea of BTC falling below its 2017 all-time high, the recent dip to $17,600 suggests…

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French order knights former CFTC chair Chris Giancarlo

The French government has given former United States Commodity Futures Trading Commission chair Chris Giancarlo, also known as “Crypto Dad,” the equivalent of a knighthood. In a Tuesday tweet from Giancarlo, the former CFTC head said France’s National Order of Merit awarded him a Chevalier — the equivalent of a knighthood — in a ceremony at the French ambassador’s residence in Washington D.C. Those attending included current and former CFTC commissioners Rostin Behnam, Brian Quintenz, Christy Goldsmith Romero, Kristin Johnson, Caroline Pham, as well as Hester Peirce of the Securities…

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Russian Duma passes bill to remove VAT, lower income tax rates on digital asset sales

The State Duma, the lower house of the Russian legislature, has passed a bill on the taxation of digital assets that exempts their sale from value-added tax (VAT) in the Russian Federation. Some other services of digital asset exchanges will also be exempted, according to state-run news service RIA Novosti.  In addition, the bill established income tax rates of 13% for Russian exchanges on the first 5 million rubles (currently about U$93,000) of the taxable base annually, 15% on amounts above that limit and 15% across the board for foreign…

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Switzerland-based crypto mining firm expands operations to Texas

White Rock Management, a cryptocurrency mining company based in Switzerland, said it will be expanding its operations to the United States, starting with Texas. In a Tuesday announcement, White Rock said it will be partnering with Natural Gas Onsite Neutralization, or NGON, a company that captures natural gas that would otherwise be burned and converts it to energy for use in the firm’s Bitcoin (BTC) mining operations. White Rock said it will be operating out of NGON’s facility in the Brazos Valley region, mining BTC using “environmentally responsible” methods. According…

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Are custodied crypto funds at risk? Industry veterans explain

With rumors of insolvency flying high among crypto firms such as Celsius and Three Arrows Capital, investors couldn’t help but ask a simple question: What happened to all the funds that were supposedly under “safe custody?” As it turns out, a small fraction of crypto firms began leveraged trading with customers’ deposits to deliver promised high APY returns on supposedly fixed-income instruments. Things worked out well when the market was thought to have endless potential. However, as token prices plunged, such firms simultaneously suffered heavy losses on their positions and…

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Bitcoin’s bottom might not be in, but miners say it ‘has always made gains over any 4-year period’

Your favorite trader is saying Bitcoin (BTC) bottomed. At the same time, the top on-chain indicators and analysts are citing the current price range as a “generational buy” opportunity. Meanwhile, various crypto and finance media recently reported that Bitcoin miners sending a mass of coins to exchanges are a sign that $17,600 was the capitulation move that pins the market bottom.  There’s so much assurity from various anon and doxed analysts on Crypto Twitter, yet Bitcoin price is still in a clear downtrend, and the metrics don’t fully reflect that…

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All 5B toncoins mined on PoS TON blockchain

The TON Foundation, an organization developing the Telegram-initiated blockchain project, the TON blockchain, on Tuesday officially announced that TON miners have mined the final toncoin. “Tens of thousands of miners have mined the entire issuance of toncoins, which was about 5 billion tokens,” TON Foundation founding member and core developer Anatoly Makosov said in a statement to Cointelegraph. The last toncoin was mined on June 28, he noted. The end of toncoin mining marks a major milestone in TON’s distribution, starting its new era as an entirely PoS blockchain. From…

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