“Bitcoin (BTC) and Ether (ETH) both moved aggressively higher on Friday, with BTC posting its largest daily gain in six months. It was up by more than 5% in the past 24 hours, while ETH rose by 10% during that time. [Bitcoin’s] volume was roughly twice its 20-day moving average, signaling strong conviction by traders.
Most risky assets were higher on the day, as traders appear to be shrugging off Federal Reserve Chairman Jerome Powell’s hawkish comments on inflation. Bitcoin’s outperformance relative to other risky assets on Friday, however, implies that traders see BTC’s recent sell-off as overdone.
Friday’s push appears to be tied to signals that the U.S. central bank will reverse course from monetary tightening to monetary easing in 2023, lowering interest rates in the process. Inflation data set to be released next Tuesday will provide investors more clarity on price expectations.”
“Ethereum today successfully completed what its developers say is the absolute final dress rehearsal for the historic and massive upgrade, which is likely to occur between September 13 and 15. The Ethereum mainnet’s 13th shadow fork went live earlier today, apparently without a hitch.
No issues surfaced.
Shadow forks are focused trial runs of aspects of the merge. The network’s developers have been running dress rehearsals of the merge almost weekly for the last few months, attempting to game out any scenarios that could potentially derail or delay its execution.”
“The CoinDesk Market Index initially consists of 148 digital tokens. To be included, each token must have a pricing history from at least two eligible exchanges going back at least 30 days. ‘It’s meant to be as inclusive as possible to represent the market.‘
The new index joins a growing field of competitors aiming to meet demand from investors and traders for ways to measure the crypto market’s performance. Other providers include Bloomberg Galaxy, CF Benchmarks (part of the Kraken exchange), Nasdaq, Solactive, MarketVector, MSCI and S&P.
A key differentiator for the CoinDesk Market Index, or CMI, is that it’s the first in a “family” of nine indexes built around the company’s proprietary classification system for cryptocurrencies, known as the CoinDesk Digital Asset Classification Standard, or DACS. The DACS divides about 500 of the biggest digital assets into six categories: currency, smart-contract platform, DeFi (decentralized finance), culture & entertainment, computing and digitization.
What really makes this launch unique is the family of indices, representing not just the broad market but the sectors. The first question might be, ‘Is the market up or down today?’ You might look at the broad market index for the answer. But then you ask, ‘Why, what drove it?’”
“Six Democratic members of the Senate Banking Committee have sent a letter to Meta Platforms (META) CEO Mark Zuckerberg asking what the company is doing to fight cryptocurrency scams on its Facebook, Instagram and WhatsApp platforms.
An FTC study shows 49% of crypto-related frauds originated on social media platforms like Facebook, members of the Senate Banking Committee say.”
“Seven mayors received recognition for their cities’ ideas centered on the digital economy. The Ethereum based proof-of-attendance (POAP) NFTs were issued through Hazama Base. The assets are non-transferable, and therefore cannot be sold on the secondary market.
The country’s prime minister has also shared interest in the use of NFTs on a number of occasions in the past. Thus, the recent initiative from the government could become a tradition to carry forward.”