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Coinbase Cloud debuts Web3 developer platform

In 2021, Coinbase vowed to become the Amazon Web Services of crypto. Now, it’s targeting Web3 development through Coinbase Cloud.

Bitcoin 'nuke' warning as Fed rate hike decision looms — dollar index hits 20-year high

Bitcoin (BTC) underwent a weak rebound on Sep. 21, and the U.S. dollar jumped to a new yearly high as investors await today's Federal Open Market Committee's interest rate decision.

BTC price hold $19K ahead of Fed decision

BTC's price has managed to cling on to $19,000 with a modest daily gain of 1.33% . Meanwhile, the U.S. dollar index (DXY), which measures the greenback's strength versus a pool of top foreign currencies, rose to 110.86, the highest level in twenty years.

BTC/USD vs. DXY daily price chart. Source: TradingView

FOMC rate hike scenarios

The Federal Reserve is poised to discuss how far it could raise its benchmark lending rates to curb record inflation. Interestingly, the market expects the U.S. central bank to hike rates by 75 or 100 basis points (bps).

The ramification of higher interest rates will likely result in lower appetite for riskier assets like stocks and cryptocurrencies. Conversely, the U.S. dollar will serve as the go-to safe haven for investors escaping risk-on assets.

"There seems no reason for the Fed to soften the hawkishness shown at the recent Jackson Hole symposium, and a [0.75 percentage point] 'hawkish hike' should keep the dollar near its highs of the year," analysts at ING told the Financial Times.

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Blockchain tech driving institutional-grade solutions: Blockchain Expo Europe

Blockchain Expo Europe 2022 in Amsterdam highlights meaningful strides in enterprise-grade blockchain solutions driven by mainstream institutions.

Downfall of Canada's Lambo driving ‘Crypto King’ reportedly sees $35M in losses

Founder of fraud recovery law firm says the only other avenue available for investors would be to make reports to the Ontario Securities Commission or the police.

Ethereum co-founder Vitalik Buterin defends DAOs against critics

Buterin believes collusion and corruption can be minimized when deciding power is in the hands of the entire group, rather than an individual or small minority.

Crypto and stocks soften ahead of Fed rate hike, but XRP, ALGO and LDO look ‘interesting’

Prices remain soft across the market as traders await Federal Reserve Chair Jerome Powell’s statement on the size of the next interest rate hike. 

At the moment, the market consensus is a 0.75 bps rate hike and a sliver of analysts are banking on 1%.

Stocks also appear en route to close the day in the red, with the Dow down 0.75% and the S&P 500 and Nasdaq registering a 0.79% and 0.64% loss, respectively. Bitcoin (BTC) continues to fight what appears to be a losing battle at the $19,000 mark, while Ether (ETH) dug a little deeper into its post-Merge dip by making an intra-day low at $1,329.

While BTC, ETH and altcoins aren’t making any notable moves that defy the current downtrend, from the perspective of market structure and technical analysis, there are a few interesting developments occurring.

Lido (LDO) has corrected alongside Ethereum now that the Merge-trade fervor has subsided, but the asset currently trades in what some would say is a bull flag. While ETH bulls and traders might have taken profits on their long Ether positions, the Merge was a success, stakers and validators still derive yield from the altcoin and the fundamentals that turned investors bullish on Ether remain present.

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OpenSea to allow creators to host token sales directly through its homepage

The marketplace intends to prioritize storytelling by allowing NFT creators to design customizable drop pages, share images, videos and more.

Litecoin Foundation’s managing director shares his thoughts on decentralized money

The Litecoin blockchain has been up and running for over a decade with no downtime.

Maple Finance launches $300M lending pool for Bitcoin mining firms

The institutional lending platform has facilitated $1.8 billion worth of digital currency loans since May 2021.

Ethereum miners dump 30K ETH, stonewalling 'ultra sound money' deflation narrative

Ethereum's switch to proof-of-stake (PoS) on Sept. 15 failed to extend Ether's (ETH) upside momentum as ETH miners added sell pressure to the market. 

On the daily chart, ETH price declined from around $1,650 on Sept. 15 to around $1,350 on Sept. 20, an almost 16% drop. The ETH/USD pair dropped in sync with other top cryptocurrencies, including Bitcoin (BTC), amid worries about higher Federal Reserve rate hikes.

ETH/USD daily price chart. Source: TradingView

Ethereum remains inflationary

The Ether price drop on Sept. 15 also coincided with an increase in ETH supply, albeit not immediately post-Merge. 

Roughly 24 hours later, the supply change flipped positive once more, pouring cold water on the "ultra sound money" narrative due to a deflationary environment that some proponents expected post-Merge. 

Pre-Merge, Ethereum distributed around 13,000 ETH per day to its proof-of-stake (PoW) miners and about 1,600 ETH to its PoS validators. But the rewards to miners dropped after the Merge went live by roughly 90%.

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BNB Chain launches a new community-run security mechanism to protect users

The AvengerDAO was developed in association with some of the leading blockchain security analytic firms and top DeFi projects in the crypto ecosystem.

Saving the planet could be blockchain’s killer app

“Putting Paris Agreement carbon markets on Ethereum and connecting the national carbon accounts of the world, is blockchain’s killer app.”

Saving the planet could be blockchain’s killer app

The sustainability movement has emerged as a 21st century megatrend, and it shows no signs of abating. Record heat in Europe, wildfires in the U.S. West, floods in Pakistan, drought in China, and accelerating ice cap melt in Greenland and Antarctica have driven home to many the looming threat of climate change.  

Meanwhile, the New York Times declared in December “the sustainable industrial revolution is just getting started,” and even heavy industries like shipping, steel, and plastics are beginning to grasp the importance of an ecologically sustainable future — developing products like “green steel,” which is a fossil-free steelmaking process. 

But hurdles remain, including questions about transparency, accountability, traceability, trust, data integrity, and even greenwashing (making false or insincere environmental claims.) Or as the Times asked: “Can some of history’s highest-polluting industries be trusted?” in spite of their professed good intentions.

This is where blockchain technology could make a difference. Like the sustainability movement itself, blockchain tech is global, 21st century, and mostly unformed though likely to be shaped soon by new laws and rules. Blockchains can simplify and lower costs of ESG (environmental, social and governance) reporting, build trust in “collected” data, develop new eco-related trading markets, and suggest new sources of innovation.

Blockchain can prove that green energy is really green. (Source: Pexels)

In March, for instance, automaker Volkswagen announced that it was using blockchain technology to help ensure that electric vehicle (EV) charging stations were using sustainable sources to recharge their electric cars. This move is aimed at consumers who want validation that the energy being used to recharge their vehicles isn’t coming from brown coal-powered electric companies or the like. BMW is said to be developing something similar.

John Bulich, Technical Director and co-founder of Powerledger, along with Dr Jemma Green, Executive Chairman and co-founder
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Can the Metaverse exist without blockchain?

Read this article to understand why a metaverse can thrive and scale better on blockchain rails.

Bitcoin analysts give three reasons why BTC price below $20K may be a 'bear trap'

Bitcoin (BTC) recovered above the $19,000 mark on Sep. 20, a day after falling to its lowest level in three months.

Bitcoin struggles after dropping below $20K

On the daily chart, the BTC price rose from $18,255 to $19,650. This 7.5% price rebound mirrored similar rebound moves witnessed in the stock market, suggesting that investors have been coming to terms with another significant rate hike by the Federal Reserve expected on Sep. 20-21.

BTC/USD daily price chart versus ACWI and Nasdaq. Source: TradingView

However, opinions differ on the longevity of Bitcoin's rebound. Independent market analyst Jonny Moe stressed that BTC's ongoing price action is similar to its sideways consolidation moves at the beginning of this year.

In other words, Bitcoin's current price rebounds around the $20,000 mark do not make a long-term bull case.

Rudy Takala, former Fox News executive and opinion editor at Cointelegraph, also warns crypto traders to prepare for more "dark times" due to worsening economic conditions globally.

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Hackers take over CoinDCX Twitter account, promote fake XRP ads

A hacker took over CoinDCX's official Twitter account and has constantly been tweeting XRP scam links.

Ethereum co-founder Vitalik Buterin shares vision for layer 3 protocols

While layer-2 protocols have been focused on "scalability," layer-3 protocols would serve a much different purpose, says Ethereum co-founder Vitalik Buterin.

Yield Guild Games: Web3 gaming adoption needs a local touch

YGG’s head of ecosystem development described subDAOs as “sort of its own economy, that has its own treasury and its own token” with its own characteristics depending on the country it's located in.

SEC lawsuit claims jurisdiction as ETH nodes are 'clustered' in the US

The SEC argues that as ETH validators are concentrated more densely in the United States, ETH transactions are seen as taking place in the country.

P2E gamers, minors not any safer from the tax man, says Koinly

Earning an income from play-to-earns is “complicated” without tax guidance, advises Australian crypto tax specialists.