- As Ethereum confirms a major upgrade expected later in the year, Gary Gensler has hinted that ETH could be a security.
- Bitcoin is poised to surpass ETH, with analysts tipping the top digital asset at $56,000.
The past few days have been eventful for the larger crypto market. While the network expansion is progressing steadily, the market continues to move sideways. In particular, there is nervousness in the community after Gary Gensler suggested that all cryptocurrencies except Bitcoin could be securities.
Additionally, SEC Branch Manager Lisa Braganca warned users about the possible legal ramifications of using emojis that could portend future profits.
With the latest CNF Brief, we take a look at 5 of this week’s biggest stories.
Shiba Inu partners with the industry giant, which serves 37 countries and 40 million payment terminals
Earlier in the week, Shiba Inu confirmed its recent partnership with Ingenico, a global payment solutions provider, to enable users to pay in crypto via Binance Pay.
Crypto payments just got easier in France 🇫🇷
We recently partnered with @ingenico, a global payment solutions provider, to enable users to pay in crypto via #Binance Pay.
Another milestone for global crypto adoption 🤝 pic.twitter.com/S8f8Pab7nW
— Binance (@binance) February 22, 2023
Binance and Ingenico will make additional crypto payment programs available to millions of users around the world, starting in France. The crypto payment option will bring an all-in-one solution instead of the multiple integrations often required by merchants…Read more
Gary Gensler classifies all cryptos except Bitcoin as collateral
After SEC Chairman Gary Gensler classified the staking program provided by the Kraken cryptocurrency exchange as unregistered securities, Proof-of-Stake (PoS)-backed blockchains including Ethereum, Cardano, and Solana are facing a challenging time. Gensler warned investors that most cryptocurrency tokens would not survive in the long term. This contradicts former SEC official William Hinman, who publicly suggested in 2018 that Bitcoin and Ethereum are not securities.
At the same time, US Treasury Secretary Janet Yellen has called for better regulation of the crypto space, assuring that the government is not considering banning the space…Read more
₿𝗥𝗘𝗔𝗞𝗜𝗡𝗚: United States has no intention of banning #bitcoin, Treasury Secretary says. pic.twitter.com/DarQZATFwa
— Documentation by ₿itcoin 📄 (@DocumentingBTC) February 25, 2023
Ethereum announces massive upgrade to solve long-standing ETH supply problems
Ethereum core developer announces that Ethereum will launch a new testnet called Holli (Holesovice) in September 2023. This has been 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 made two suggestions on the repo and would love to hear from application layer developers on how we could better address this!
— timbeiko.eth (@TimBeiko) February 23, 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 follows Ethereum Shanghai’s upgrade, another notable event set to go live in the second half of this year…Read More
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Hashflow Token (HFT) went on a huge rally and massive gains in a short amount of 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 taking a spot position in the cryptocurrency.
A technical chart shared by Clantering Clark shows HFT breaking out of its accumulation zone.
The last Tickerless chart I shared hit a 3x this week.
I patiently built a spot position in this position because the setup looks like it has quite a step ahead.
3 things in his favor.
-New coin and new chart effect.
-Not microcap but not overweight… https://t.co/twoHI0a91b pic.twitter.com/WODQXqA1Xl
— Clark (@CanteringClark) February 12, 2023
Hashflow Token (HFT) is a microcap in the crypto space with a valuation of around $128 million. At press time, it is trading 3 percent higher at a price of $0.6903. In its recently released 2023 roadmap, the Hashflow blockchain noted that it plans to launch Hashverse, a gamified storyverse-based decentralized autonomous organization (DAO) that will allow users to stake tokens for completed quests and non-fungible ones earn tokens (NFTs)…Read more
Bitcoin (BTC) surges to $56,000
Following Bitcoin’s recent breakout and Nasdaq correlation, analysts expect BTC price to reach $56,000 this year. For the past few weeks, BTC has been trading in a tight range between $23,000 and $25,000. In order to reach the set target, the digital asset will more than double the current level.
Pseudonymous crypto analyst KALEO tweeted to his 562,000 followers that the ethereum/bitcoin pair (ETH/BTC) is now trading below a diagonal trend line. Thus, ETH is likely to lag Bitcoin in terms of gains.
$ETH/$BTC finally broke below the HTF support line that we were watching.
Keep in mind – this chart only shows relative strength versus BTC, so expect BTC to overtake a little faster at some point over the next few weeks. pic.twitter.com/tky1q9DDIw
— KALEO (@CryptoKaleo) February 13, 2023
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One of the key indicators is that on-chain data provider Santiment noted that whales and trading volumes could shift to Bitcoin as altcoins lag behind… Read More
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