The International Monetary Fund (IMF) has once again recommended that El Salvador narrow the scope of Bitcoin legislation and adoption.Julie Kozack, IMF Director of Communications, told the press: briefing On Thursday, the IMF announced its ongoing engagement with El Salvador authorities. “Addressing the risks posed by Bitcoin is a key element of these discussions,” she said.“Our recommendations are to narrow the scope of Bitcoin law, strengthen the regulatory framework and oversight of the Bitcoin ecosystem, and limit public sector exposure to Bitcoin,” Kozack added. .Kozack said the IMF aims to reach an agreement with El Salvador on a new IMF-backed…
Author: Crypto Flexs
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The third quarter revealed a challenging environment for the cryptocurrency market, including low on-chain fees, Bitcoin’s rising dominance, and Ethereum’s struggles with inflation and poor performance. Ethereum (ETH)’s identity is shifting from a deflationary to an inflationary model, raising questions about its role as a cryptocurrency amid the rise of layer 2 solutions and the growing dominance of Bitcoin (BTC). Lucas Outumuro, head of research at IntoTheBlock, noted in an October 4 “Although fees rebounded slightly in September, Ethereum’s trend toward substantially lower fees has been a major contributor to ETH’s underperformance as the market effectively rejects the argument for…
0G has transitioned to dAIOS (Decentralized AI Operating System). Initially, OG was the leading modular AI blockchain. 0G aims to democratize AI as a public good, attracting attention from a variety of sectors. On October 1, 2024, 0G announced a groundbreaking identity change, evolving from a leading modular AI blockchain to the world’s first decentralized AI operating system (dAIOS). These changes highlight 0G’s commitment to decentralizing artificial intelligence and giving users full control over their data, while promoting transparency, monetization, and incentive alignment. Decentralize AI workflow In today’s highly centralized AI environment, data ownership and decision-making processes are often unclear.…
Dogecoin hit a double high at $0.13 and has lost 18% of its value since then. Despite an 18% market decline, DOGE was picked up by new holders. Whale activity remains at quarterly highs as whales reaccumulate. Dogecoin (DOGE), the biggest meme token, has recently seen double-digit gains. The bullish momentum, initially sparked by the Federal Reserve’s (Fed) interest rate cut to 0.50%, was later strengthened by renewed interest from traders in meme coins.New DOGE holders get in on the actionDogecoin hit the local double top at $0.13 on September 28, 2024, but was rejected from this price barrier due…
Iris Coleman October 4, 2024 11:58 Bitfinex has released version 7.2.0 of its mobile app, featuring a new Fast Pay widget, various improvements, and bug fixes to improve user experience. Bitfinex has released version 7.2.0 of its mobile app, introducing a series of updates and optimizations aimed at improving user experience. According to blog.bitfinex.com, this latest update includes notable additions to the Fast Pay mobile app widget. What’s new The highlight of this update is the introduction of the Fast Pay widget, designed to streamline and expedite the in-app payment process. This addition is…
According to the analysis, Bitcoin may be able to bounce back from the recent recession as demand in the US remains high.In one of its Quicktake blog posts on October 3, on-chain analytics platform CryptoQuant revealed “the potential for near-term BTC growth.”Golden Cross Strengthens “Short-Term” BTC Price Recovery BetsBitcoin (BTC) price action has provided several tests of $60,000 support this week amid market uncertainty over developments in the Middle East.But demand is strong behind it all, as evidenced by the popular Coinbase Premium indicator.Coinbase Premium measures the price difference between the BTC/USD pair on Coinbase, the largest US exchange, and…
A widely known cryptocurrency analyst and trader is providing insight into the layer 1 altcoin Sui (SUI), highlighting one memecoin he believes has more upside potential. The analyst, who goes by the pseudonym Bluntz, told his 278,500 followers on social media platform CAT completed a three-wave downward correction within four hours and enjoyed a “multi-day build-up,” according to an analyst who regularly applies Elliott Wave theory to technical analysis. According to Elliott Wave Theory, major trends in asset prices move in a five-wave pattern and corrections occur in a three-wave pattern. According to the anonymous analyst’s chart, he appears to…
Bitcoin BTC +0.92% Miner TeraWulf has sold a 25% stake in its nuclear Bitcoin mining facility for about $92 million to fund expansion of its high-performance computing and AI data center hosting services.TeraWulf’s interest in the Nautilus Cryptomine joint venture, located near the Susquehanna Nuclear Power Plant in Pennsylvania, was sold to its partners, a subsidiary of Talen Energy Corporation. The completion of the sale increases TeraWulf’s return on investment by 3.4 times, the company announced on Thursday.The deal consists of $85 million in cash, approximately 30,000 Bitcoin miners contributed by Talen, and $7 million worth of related equipment, TeraWulf…
This article is also available in Spanish. Ethereum is down at time of writing, reflecting its overall performance. The nearly 2% decline in the cryptocurrency market was due to contraction in Bitcoin, Ethereum and top altcoins. Currently, the total market capitalization has decreased to $2.17 trillion. If pressure comes, it could record more losses, reversing September’s gains. Ethereum under pressure, is support available at $2,350? Last week alone, CoinMarketCap data showed show Ethereum fell 10%, taking losses below the previous support level of $2,400 and now resistance. While it may seem like the sharp decline for most of this week…
The CFTC subcommittee recommends the use of DLT-based collateral for transactions. Approval could expand access to digital assets for smaller market participants. Strong ETF inflows indicate growing institutional interest in digital assets. In a significant development for the digital asset market, the U.S. Commodity Futures Trading Commission (CFTC) is reportedly considering a proposal that would allow the use of digital ledger technology (DLT)-based collateral for commodity and derivatives trading. According to Bloomberg, the CFTC’s Global Markets Advisory Committee subcommittee recently voted to recommend the proposal. If approved, this proposal could streamline transactions and promote widespread adoption of digital assets in…