CNF Brief: 5 biggest stories of the week
- As Ethereum confirms a major upgrade expected later this year, Gary Gensler has suggested that ETH could be a safety.
- Bitcoin is poised to surpass ETH with analysts tipping the biggest digital asset to reach $56,000.
The past few days have been eventful for the larger crypto market. While network development is steadily increasing, the market continues to trade sideways. In particular, there is unrest in the community after Gary Gensler suggested that all cryptocurrencies except Bitcoin could be securities.
Additionally, SEC Division Chief Lisa Braganca warned users about the potential legal ramifications of using emojis to indicate future gains.
With the latest CNF Brief, we take a look at 5 of the biggest stories from this week.
Shiba Inu collaborates with an industry giant that serves 37 countries and 40 million payment terminals
Earlier this week, Shiba Inu confirmed its latest partnership with Ingenico, a global payment solutions provider, to enable users to pay in crypto through Binance Pay.
Crypto payments just got easier in France π«π·
We have recently entered into a partnership with @ingenicoa global provider of payment solutions, to enable users to pay in crypto through #Binance Pay.
Another milestone for global crypto adoption π€ pic.twitter.com/S8f8Pab7nW
β Binance (@binance) 22 February 2023
Binance and Ingenico will bring additional crypto payment tools to millions of users around the world from France. The crypto payment option will provide an all-in-one solution instead of the many integrations often required by merchants…Read more
Gary Gensler classifies all crypto except Bitcoin as a security
After SEC Chairman Gary Gensler classified the stakes provided by Kraken’s cryptocurrency exchange as unregistered securities, proof-of-stake (PoS) secured blockchains, including Ethereum, Cardano and Solana, are looking at a challenging time ahead. Gensler warned investors that most cryptocurrency tokens would not survive long term. This contradicts former SEC official William Hinman who publicly indicated in 2018 that Bitcoin and Ethereum were not securities.
At the same time, US Treasury Secretary Janet Yellen has called for better regulation of the crypto space and assured that the government is not considering a ban on the space…Read more
βΏπ₯πππππ‘π: The US has no intention of banning #bitcoin says the finance minister. pic.twitter.com/DarQZATFwa
β Documenting βΏitcoin π (@DocumentingBTC) 25 February 2023
Ethereum Announces Massive Upgrade To Solve Longstanding ETH Supply Issues
Ethereum core developer reveals that Ethereum will launch a new testnet called Holli (Holesovice) in September 2023. This was confirmed by Ethereum core developer, Tim Beiko.
A new testnet, Holli, is scheduled to launch later this year, and hopefully we can figure these things out before then! I’ve made two suggestions for the repo, and would love to hear from application layer developers on how we can better approach this!
β timbeiko.eth (@TimBeiko) 23 February 2023
As the developer further explained, testnets benefit three specific groups, including client developers, application developers, and node operators/stakers/miners. It is important to remember that all three have different needs. The upgrade will follow the Ethereum Shanghai upgrade, another notable event, scheduled to go live in the second half of this year…Read more
Hashflow Token (HFT) stands for a huge rally and huge gains in a short time
In a Twitter message, crypto strategist Cantering Clark told his 160,000 followers that he is quite bullish on Hashflow Token (HFT) and is building a spot position in the cryptocurrency.
A technical chart shared by Clantering Clark shows that HFT is making a breakout from its accumulation zone.
The last tickerless chart I shared did a 3x this week.
I’ve been patiently building a spot position in this one because the setup looks like it has a lot of grip ahead of it.
3 things to your advantage.
-New coin and new map effect.
-Not microcap, but not overweight… pic.twitter.com/WODQXqA1Xl
β Clark (@CanteringClark) 12 February 2023
Hashflow Token (HFT) is a microcap in the crypto space with a value of around $128 million. At press time, it was trading 3 percent up at a price of $0.6903. In its recently released roadmap for 2023, the Hashflow blockchain noted that it plans to launch Hashverse, a gamified, story-verse-driven decentralized autonomous organization (DAO), which will allow users to stake tokens to complete missions, as well as earn non-fungible tokens (NFT). ..Read more
Bitcoin (BTC) will reach $56,000
Following Bitcoin’s recent breakout and Nasdaq correlation, analysts expect the BTC price to touch $56,000 this year. For the past couple of weeks, BTC has been trading in a tight range between $23,000 and $25,000. To reach the set target, the digital resource will more than double current levels.
Pseudonymous cryptoanalyst KALEO tweeted to his 562K followers that the Ethereum/Bitcoin pair (ETH/BTC) is now trading below a diagonal trendline. Thus, ETH is likely to follow Bitcoin in terms of gains.
$ETH / $BTC finally broke below the HTF support line we have been looking at.
Remember – this chart only shows relative strength to BTC, so expect to see BTC start to outperform a little faster sometime in the next few weeks. pic.twitter.com/tky1q9DDIw
β KALEO (@CryptoKaleo) 13 February 2023
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One of the key indicators is that on-chain data provider Santiment noted that as altcoins fall behind, whales and trading volumes may shift to Bitcoin…Read More
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