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Market Strategist Expects Stock Market to Drop 50% From Here, Says There’s ‘Going to Be No Middle Class Left’

August 28, 2022

Following Jerome Powell’s hawkish commentary at the annual Jackson Hole Economic Symposium, major stock indexes, cryptocurrencies, and precious metals slid significantly in value. Over $240 billion was erased from the crypto market and the Crypto Fear and Greed Index continues to slide lower, edging toward “extreme fear.” Furthermore, the chief strategist at bubbatrading.com, Todd ‘Bubba’…
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Coinbase Discloses It Will ‘Evaluate Any ETH Fork Tokens Following The Merge’

August 28, 2022

The publicly listed firm Coinbase Global has revealed the company plans to evaluate any potential forks that arise from the upcoming Ethereum upgrade known as The Merge. In a recently updated blog post, Coinbase said if a new Ethereum proof-of-work (PoW) token is created it “will be reviewed with the same rigor as any other…
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ECB President Christine Lagarde Blames Climate Change for Europe’s Torrid Inflation

August 28, 2022

According to the French politician currently serving as the president of the European Central Bank (ECB), Christine Lagarde, Europe’s scorching hot inflation can be blamed on climate change. During her interview with Madame Figaro, Lagarde stressed that people need to take into account that “climate disasters” affect price stability a great deal. ECB Board Member…
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Bitcoin Drops Below USD 20,000

August 28, 2022

The number one cryptoasset per market capitalization, bitcoin (BTC), took another dip below USD 20,000 today. At 15:00 UTC on Sunday, BTC was trading at USD 19,888. Prior to this slight recovery, it had dipped to USD 19,858. At the time of writing, it is down 1% in a day and 6% in a week.…
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MakerDAO co-founder recommends DAI-USD depegging to limit attack surface

August 28, 2022

While revealing the protocol’s inability to comply with regulators, Christensen suggested that “we must choose the path of decentralization.” In light of the recent discussions around depegging its native token from USD Coin (USDC) amid sanctioning of Tornado Cash, MakerDAO co-founder Rune Christensen reached out to the community explaining why free-floating DAI may be the…
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GameFi investors are now prioritizing fun factor over money: Survey

August 28, 2022

While roughly half of the investors joined the GameFi space initially for profits, 89% of GameFi investors succumbed to Crypto Winter 2022. GameFi, the fusion of gaming and decentralized finance (DeFi), attracts a set of investors that tend to choose projects based on their use case rather than money-generating potential. The GameFi ecosystem attracts GenZ…
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Bitcoin risks worst August since 2015 as hodlers brace for ‘Septembear’

August 28, 2022

Serious cold feet over the outlook for monthly timeframes with September historically a “red” month. BItcoin (BTC) is on track to see its worst August performance since the 2015 bear market — and next month may be even worse. Data from on-chain analytics resource Coinglass shows that BTC/USD has not had an August this bad…
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The number of crypto billionaires is growing fast, here’s why

August 28, 2022

As Bitcoin continues to grow in value and crypto companies become widely accepted, leading to the rise of crypto billionaires. Bitcoin whales: who are the largest BTC holders? Satoshi Nakamoto has more than 1 million BTC, making him the largest Bitcoin holder. He is followed by the founders of Grayscale and Binance, who together have…
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Bitcoin threatens 20-month low monthly close with BTC price under $20K

August 28, 2022

Traders are increasingly betting on a deeper dive to June’s lows or even beyond, with $20,000 struggling to hold. Bitcoin (BTC) looked set to equal its lowest monthly close since 2020 on Aug. 28 as bulls failed to take control. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Odds stack up for a deeper dive below…
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Antpool Reveals Plans to Drop Ethereum Ethash Support, Plans to Keep Mining ETC

August 28, 2022

Antpool, the bitcoin mining pool affiliated with Bitmain, has announced the crypto mining operation will not manage ethereum accounts after The Merge is implemented. The mining pool is asking participating Antpool miners to add their ethereum withdrawal addresses by September 3, in order to receive the accumulated ether collected by Antpool. Antpool to Stop Supporting…
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