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“These three new benchmarks, together with Uniswap launched earlier this year, will capture more than 40% of the total value locked in [decentralize finance] protocols on the Ethereum blockchain,” said CME Group’s head of cryptocurrency products, Giovanni Vicioso. Source
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WASHINGTON, D.C. — In its eighth and final meeting of 2022, the Federal Reserve will likely raise interest rates by another 50 basis points, or 0.5 percentage point, Fed Chair Jerome Powell implied Wednesday. The previous four Fed rate hikes were for 75 basis points, or 0.75 percentage point. Source
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Tesla boss Elon Musk opines that the Fed’s attempts to stem inflation may inadvertently induce a full-blown recession.Elon Musk believes that the Federal Reserve must cut interest rates immediately or risk incurring a severe recession. The outspoken Tesla CEO made his opinion known in an early tweet Wednesday, which read:“Trend is concerning. Fed needs to
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Bitcoin (BTC) starts the second week of November battling some familiar FUD — how will BTC price action react?The largest cryptocurrency managed a weekly close just below $21,000 on Nov. 6 — an impressive multi-week high — but remains fixed in a sticky trading range.Despite seeing highs of nearly $21,500
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On-chain data shows Bitcoin funding rates have turned positive, suggesting there have been some fresh long openings on derivative exchanges. Bitcoin Funding Rate
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"In determining the pace of future increases in the target range, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments," according to the FOMC statement. Source
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Surging Bitcoin (BTC) network hash rates are causing problems for mining companies but might be rolling out the red carpet for energy giants.The Bitcoin hash rate, the amount of computing power given to the blockchain through mining, has reached another record peak. According to Blockchain.com, the metric hit an all-time
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The FOMC meeting is currently looming above the financial markets, including bitcoin, given that it is just a few days away. Previous
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For instance, holding a short position (a bearish bet) in the perpetual futures market tied to Cardano's ADA and play-to-earn giant Axie Infinity's AXS token has become unusually costly, creating a window of opportunity for market-neutral traders to make attractive returns, according to Markus Thielen, head of research at strategy
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"All units outside of the [Bitmain Antminer] S19 XP [go] into negative gross margin territory," at above 9 cents per kilowatt hour, said Ethan Vera, chief operating officer at mining services firm Luxor Technologies. "If hashprice [the value of 1 terahash/second of computing power per day] trends down we expect
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