Wednesday 28 September 2022
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Sell the news? Cardano price risks 20% drop despite Vasil hard fork euphoria

Cardano (ADA) has dipped this July 21 as the market favors mounting selling pressure around its most reliable resistance levels in 2022 over a major upcoming hard fork. ADA price could plunge 20% by early AugustADA's price fell 5% intraday to $0.476. The downside move came as a part of a broader retreat that started a day after it briefly climbed above its 50-day exponential moving average (50-day EMA; the red wave in the chart below) near $0.50. The 50-day EMA has been serving as ADA's curvy resistance level since October 2021. ADA/USD daily price chart. Source: TradingViewAdditionally, the upper trendline resistance of a broader descending channel pattern strengthened the selling sentiment around the ADA's 50-day EMA wave. Earlier in June, the same resistance confluence had triggered a 35% price drop toward the channel's lower trendline. Therefore, ADA's renewed correction move risks leading the price toward $0.384 by July or early August, down about 20% fro..

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US authorities arrest former Coinbase manager, alleging insider crypto trading

United States authorities have brought charges against three people for wire fraud conspiracy and wire fraud in connection with a scheme to commit insider trading using crypto, one of whom was a former product manager at Coinbase Global. In a Thursday announcement, the U.S. Attorney’s Office for the Southern District of New York, in conjunction with the New York Field Office of the Federal Bureau of Investigation, said it had filed an indictment against former Coinbase Global product manager Ishan Wahi as well as his brother Nikhil Wahi and associate Sameer Ramani. The trio allegedly used confidential information Ishan obtained from Coinbase in regard to which tokens would be listed on the exchange to make roughly $1.5 million in gains from trading 25 different cryptocurrencies. According to the authorities, Ishan was privy to certain information on listing cryptocurrencies on exchanges controlled by Coinbase in his position as a product manager from August 2021 to May 2022, a period ..

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Bitcoin bulls miss key resistance flip as BTC price sheds 8%

Bitcoin (BTC) extended losses on the July 21 Wall Street open after a key resistance level failed to hold as new support. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewDollar rises to squeeze risk assetsData from Cointelegraph Markets Pro and TradingView showed BTC/USD dropping to $22,340 on Bitstamp after the opening bell, down 8% from its local top. The pair's progress had seen a challenge from Tesla, which revealed that it had sold 75% of its BTC position at a loss. Macro events then added to Bitcoin's woes in the form of fresh U.S. dollar strength and a surprise rate hike from the European Central Bank (ECB) to combat inflation. U.S. dollar index (DXY) 1-hour candle chart. Source: TradingViewAt the time of writing, the U.S. dollar index (DXY) had regained 107, up 0.6% in an hour as U.S. equities conversely saw modest losses. In Europe, meanwhile, the ECB decision failed to improve the fortunes of the euro, which gave back early gains as the Eurozone battled..

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What are the long-terms goals for the Ethereum blockchain? Vitalik Buterin explains live at EthCC

On Thursday, Vitalik Buterin, co-founder of Ethereum, shared his long-term vision for the namesake blockchain live at the annual Ethereum Community Conference, or EthCC, in Paris. As told by Buterin, Ethereum is currently at an inflection point, or period of rapid change, before the ecosystem's capability will eventually settle down. Currently, the foremost priority for Ethereum is building an easy-to-use light client for the consensus layer, execution layer, and layer-2 solutions by default. Next is better support for home stakers or those looking to validate network transactions when Ethereum transitions to a proof-of-stake blockchain but possess less than the required 32 Ether (ETH). Finally, Buterin believes it's critical that Ethereum can eventually be run on a full node with lighter hardware. As for the long-horizon roadmap, Buterin plans to upgrade Ethereum with better cryptographic technologies, potentially for quantum resistance, if they come out and additionally fu..

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Turkish crypto exchange joins COPA to fight against ‘patent trolls’

Major Turkish crypto exchange BtcTurk has joined the crypto patent alliance (COPA) to team up with prominent firms in their mission to provide open access to patents and empower the adoption of crypto technologies. COPA aims to abolish patents as it's perceived as an obstacle to innovations within the sector. The nonprofit favors a more communal approach when it comes to intellectual property. Its members include prominent crypto firms like prominent firms like Coinbase, Block and Aquarius. Apart from crypto-native companies, firms like MicroStrategy and Meta have also joined COPA. The firms pledged to keep public patents on crypto and blockchain tech to stay accessible to the public. According to Özgür Güneri, the CEO of BtcTurk, as a way to improve the crypto ecosystem, the firm decided to join COPA and donate some funds to the nonprofit to help with its work. Güneri explained that the nonprofit plays a significant role in protecting technologies within crypto, especially with..

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Crypto.com to roll out Google Pay integration as Big Tech continues to embrace crypto

Global cryptocurrency wallet and exchange platform Crypto.com is adding Google Pay as a payment option for Android users to buy cryptocurrencies. Google Pay is estimated to have over 100 million users who could make use of the latest payment gateway to cryptocurrency markets. Once the integration goes live next week, users that have set up their Google Pay accounts to be linked with a credit or debit card will be able to choose the payment option when on the Crypto.com app. The exchange lists over 250 cryptocurrencies accessible to some 50 million users worldwide. Crypto.com has been in the headlines in recent months as the company acquired licenses to operate in a handful of countries in quick succession. Italy is the latest country to give the firm the green light to begin serving customers within its borders, following regulatory approval in Greece, Singapore and Dubai. The integration of major payment systems into cryptocurrency wallet and exchange platforms has picked up pace over..

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Web3 platforms launch the Open Metaverse Alliance

Blockchain-based metaverse and Web3 platforms have decided to form an Open Metaverse Alliance for Web3 (OMA3) to overcome the interoperability challenges of the industry. Four core principles of the Alliance are said to be transparency, inclusiveness, decentralization and democratization. The joint organization was established by Alien Worlds, Animoca Brands, Dapper Labs, Space, Superworld, The Sandbox (SAND), Upland and Voxels. As the official announcement specifies, the means to overcome interoperability challenges would be focused on proposing standards and facilitating collaboration between various stakeholders of Web3 and other industries. OMA3 will be established as a decentralized autonomous organization (DAO) to ensure a governance system that is “transparent and user-centric.” It will focus its efforts on specific metaverse-related topics, such as standards for nonfungible tokens (NFTs), protocols, transferable identity, portals between virtual worlds, mapping and indexing. ..

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FTX CEO and Solana co-founder offer advice for building Web3 ecosystems

The blockchain ecosystem is constantly evolving, yet there always seems to be one overarching sector dominating at a given time. For example, decentralized finance (DeFi) projects received an impressive amount of venture capital funding in 2021, making it the most invested sector last year. Findings further show that nonfungible tokens (NFTs) were the second most invested sector, while Web3 and infrastructure ranked third. Now, Web3 is proving to be the most sought-after investment sector in the blockchain industry. New findings from Cointelegraph Research confirm this, showing that Web3 captured around 42% of all individual deals during Q2 this year, while DeFi came in a distant second at 16%. Increasing interest in Web3 has also become apparent as venture capital giants like Andreessen Horowitz (a16z) close billion-dollar funds dedicated to investing in Web3 projects. Web3 has also captured the attention of Wing Venture Capital, a Silicon-Valley-based investment firm focused on ear..

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Solana and Ethereum smart contract audits, explained

Smart contract audits involve scrutinizing the code of crypto projects — highlighting security vulnerabilities. Smart contracts are a crucial cog of the crypto ecosystem — and they've unlocked a plethora of use cases for blockchain technology. But for developers who are furiously writing code, safety needs to be a number one priority. Smart contract exploits can put user funds at risk, and we've all seen headlines of high-profile hacks where eye-watering sums of money were lost. An audit allows an independent organization to kick the tires of a smart contract, and detect vulnerabilities before they're spotted by malicious actors. This can help crypto projects to achieve credibility, all while giving users peace of mind. Audits are typically done before smart contracts are deployed, as they can be difficult to fix once uploaded to a network. Smart contracts are commonly found on blockchains including Ethereum and Solana. The best security firms will put c..

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Cristobal Balenciaga NFT To the Moon drop inspired by founder’s original designs is live

Lorenzo Riva, the artist director of the luxury fashion brand Balenciaga during the 1980s, launched a much anticipated Cristóbal Balenciaga: To the Moon nonfungible token (NFT) collection on Thursday in collaboration with Cointelegraph. The NFT collection comprises 8,300 original, never-before-seen designs from Cristóbal Balenciaga, himself. Cristóbal had humble beginnings as a local tailor’s apprentice and eventually rose to prominence in the fashion industry as a pioneer of novel garment shapes. These fashions, such as the sack dress and the cocoon coat, changed the course of women’s fashion in the 1950s. Lorenzo Riva and models wearing his unique designsDuring the 1980s, Lorenzo Riva served as the artistic director of Balenciaga and received the original designs created by Cristóbal. Cointelegraph created the art collection and collaborated with Art Vein, a fine art NFT platform, Animal Concerts, a metaverse entertainment company and Crypto.com NFT to bring this fashionable digital ..

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