Bitcoin (BTC) extended its decline since Wall Street opened on September 11, as the cryptocurrency market failed to rally despite positive U.S. macroeconomic data.BTC/USD 1-hour chart. Source: TradingViewBitcoin Gives Up $56,000 as CPI Eases Inflation FearsData from Cointelegraph Markets Pro and TradingView tracked BTC price movements as daily losses exceeded 3% due to selling in the United States.Currently below $56,000, BTC/USD ignored the August Consumer Price Index (CPI) numbers, which showed inflation slowing as expected, at 0.2% monthly and 2.5% annually, according to data from the U.S. Bureau of Labor Statistics.“The overall items index rose 2.5% in the 12 months…
Author: Crypto Flexs
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According to digital asset tracking site Lookonchain, Hong Kong-based crypto asset management giant Metalpha has deposited $77.55 million worth of Ethereum (ETH) to Binance over the past few days. Metalpa sent a total of 33,589 ETH to the world’s largest cryptocurrency exchange through several transactions, including 10,000 ETH (worth $23.45 million) on Monday. According to Lookonchain, the company still holds 51,300 ETH, worth $120 million. Cryptocurrency trackers point out that other Ethereum whales are accumulating. “A smart whale bought back 5,000 ETH ($11.46M) off the floor in the last two days! This whale bought 5,200 ETH in November 2022 at…
Matter Labs hires former VP of marketing Meghan Hughes. Solana brush -1.66% has been appointed the Foundation’s new Chief Marketing Officer.Hughes previously worked at Google, Layer, and Box, where she helped guide Box from its inception to its initial public offering. She then joined Facebook as its head of communications, then Niantic, then Stripe as its head of marketing, and ultimately became VP of marketing at Solana Foundation.Hughes was brought in to help Matter Labs share its story and elevate its narrative, the company told The Block, noting that she has expertise in go-to-market strategy, product-driven growth, and marketing communications.…
Bitcoin prices fell slightly on Wednesday, as a widely reported inflation gauge showed that U.S. consumer prices rose less than expected in the 12 months through August.The Bureau of Labor Statistics (BLS) reported Wednesday that the consumer price index (CPI) rose 2.5% for the year. Economists had expected the index, which tracks price changes in a basket of goods and services, to rise 2.6% from a year earlier.Monthly inflation rose 0.2% in August, matching the CPI increase in July. Before that, consumer prices fell 0.1% in June, sending the CPI into negative territory for the first time since 2020.Immediately after…
Louisa Crawford Sep 6, 2024 07:54 The SME Lending Joint Task Force of the Hong Kong Monetary Authority (HKMA) and the Hong Kong Investment Board (HKAB) held its inaugural meeting to address SME financing challenges and enhance communication with the commercial sector. The Joint Task Force on SME Lending, established by the Hong Kong Monetary Authority (HKMA) and the Hong Kong Banking Association (HKAB), held its inaugural meeting on 5 September 2024. According to the Hong Kong Monetary Authority, this key session aimed to address the challenges faced by SMEs in accessing and maintaining…
Goldfeather used Buterin’s 2020 roadmap to counter L2’s criticism. Buterin likened L2 to a web browser to strengthen Ethereum’s ecosystem. Recently, critics have scrutinized Vitalik Buterin’s vision for a Layer 2 (L2) solution, arguing that L2 deviates from the core principles and original roadmap of Ethereum (ETH). These claims suggest that L2 solutions designed to increase Ethereum’s scalability are no longer aligned with the network’s core goals. However, most of these criticisms overlook a key aspect of Buterin’s 2020 rollup-centric roadmap, which provides a clear path for L2 development. Steven Goldfeder Defends Buterin’s L2 Roadmap In response to these criticisms,…
Marinade, a Solana staking marketplace, has hired Hadley Stern, former president of Fidelity Digital Asset Services, as its chief commercial officer.According to a press release shared with The Block, Stern will lead Marinade’s efforts to strengthen its staking solution and position it in the digital asset industry.Stern served as the founding president of Fidelity Digital Assets from 2016 to 2018. He also led Amazon Web Services’ Innovation Lab for more than a year from 2020 and served as global head of digital asset custody at BNY Mellon from 2021 to 2024.“Stern’s deep understanding of digital asset management makes him the…
Terryl Dickey September 6, 2024 08:11 Golem Network launches the MVP of Golem-Workers and invites beta testers to improve its features and interface. According to the Golem Network blog, Golem Network has announced the release of a minimum viable product (MVP) for the Golem-Workers API and is inviting beta testers to help improve the new features. What are Golem Workers? Golem-Workers is an API designed to provide direct, high-level access to GPU and CPU resources on the Golem Network. This feature allows users to perform complex tasks on the network by leveraging the distributed…
Analysts said altcoins remained relatively strong despite Bitcoin’s recent decline, suggesting investors are adjusting how they protect their capital amid market uncertainty.“This shift suggests a potential regime shift as investors look to altcoins for value, away from the typical pattern of piling into Bitcoin during a recession,” analysts at cryptocurrency exchange Bitfinex wrote in a Sept. 9 report.“Altcoin markets have shown resilience,” he added.Analysts have noted the recent price decline of Bitcoin (BTC), which fell to $52,827 on September 7, down 10.8% from seven days ago, according to CoinMarketCap data.Bitcoin has since recovered slightly to $57,001, but remains below the…
Bitcoin (BTC) has given up recent gains as cryptocurrency investors were left disappointed by the September 11 U.S. presidential debate.BTC/USD 1-hour chart. Source: TradingViewBitcoin Selling Pressure Increases as CPI PrintsAccording to data from Cointelegraph Markets Pro and TradingView, the price of BTC fell $1,000 in just one hour after the daily close, with BTC/USD hitting a local low of $56,099 on Bitstamp.The upward momentum reversed as Donald Trump or Kamala Harris failed to provide new inspiration to those seeking a supportive cryptocurrency policy.“The cryptocurrency market is also disappointed by the lack of commentary on cryptocurrency policy,” trading firm QCP Capital…