Another FOMC meeting is around the corner and people have already started putting forth their expectations on the table. The situation this time is quite different, for the U.S. economy is in the midst of a banking crisis. Fear is instilled in the minds of depositors and investors, with regulators reportedly exploring options if things go further down south.
Ethereum price is moving higher above the $1,700 resistance against the US Dollar.
ETH price is now trading above $1,700 and the 55 simple moving average (4-hours).
There is a key bullish trend line forming with support near $1,730 on the 4-hours chart (data feed from Coinbase).
The pair could climb further if it stays above the $1,660 support zone.
The judge in Core Scientific's (CORZ) bankruptcy approved a settlement with the bitcoin miner's exclusive energy contract negotiator under which Core Scientific will transfer more than $20 million worth of electrical equipment to the supplier.
Authorities and power utilities in various Russian regions have shut down illegal crypto mining farms, seizing hardware and taking operators to court. The action against the coin minting facilities comes amid discussions on a proposal to introduce criminal liability for miners breaking the upcoming legislation for the industry.
The market capitalization of XRP, the controversial cryptocurrency with ties to San Francisco-based distributed ledger company Ripple, has topped $20 billion. The token gained nearly 5% over the past 24 hours alone.
The successive collapse of well-established financial institutions in the U.S. managed to instill fear among depositors and investors. At the moment, companies with their toes immersed in the banking space continue to experience funding strains. As a result, they’ve started leaning on the Federal Reserve for support. According to data published by the Fed, U.S. banks have borrowed a total sum of $164.8 billion from two Federal Reserve backstop facilities over the past week.
AllianceBlock, a provider of blockchain infrastructure that bridges traditional finance (TradFi) and decentralized finance (DeFi), has partnered with digital investment firm ABO Digital to offer institutional and retail investors a lower-risk, compliant way of financially backing crypto projects through tokenization. The tie-in comes as tokenized assets continue to gain steam, with investment giant Hamilton Lane offering tokenized exposure to one of its funds earlier this year.
Checking out the Hive OS Linux Mining OS statistics about what coins and algorithms are the most mined among the users of that mining operating systems today gives quite interesting results. Kaspa (KAS) has tied with Ethereum Classic (ETC) with each at 19% of the coins being mined, followed by Ravencoin (RVN) in third place with 9%, NEXA at 7% and ERGO (ERG) at 5%. KAS has been slowly catching up to ETC in the statistics since the beginning of the year, but now it is about to flip it and become the most mineable coin among HiveOS users (it is still actually less than half percent behind). Of course, HiveOS is not the only Linux-based mining operating system and there are users that are mining directly, still this is one of the largest in terms of users and gives a good overview and insight thanks to the statistics that it provides.
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