Stablecoin Feature in New York Times Signals Regulation Is Coming — CoinDesk

Regardless of what path U.S. regulators take, they can’t go it alone, the article observes. Without international cooperation on stablecoin regulation, the stablecoins could just move elsewhere. Such international regulation might come in 2023, the Times noted, when the global Financial Stability Board is targeting final adoption of stablecoin regulations it’s working on. Source link

Bitcoin ‘heavy breakout’ fractal suggests BTC price can hit $250-$350K in 2021

Bitcoin (BTC) has the potential to push its prices to between $250,000 and $350,000 by the end of 2021, a long-standing fractal suggests. First spotted by pseudonymous analyst Bit Harington, the bullish setup drew its inspirations from Bitcoin’s secular bull runs every time after halvings when the miner block reward gets cut in half. Analysts perceive the halving as a bullish event, which reduced the supply of newly mined BTC.  Harington reminded that Bitcoin’s prices surged by more than 600% after the first two halving events in 2012 and 2016 when measured…

How the Prediction Markets Are Wagering on Canada’s Election — CoinDesk

Polymarket runs on Polygon, a sidechain, or parallel network, to the Ethereum blockchain, and the bets are managed by software programs known as smart contracts. The advantage of this setup is that an open system can allow “anyone, anywhere to create markets on anything,” as Polymarket founder Shayne Coplan puts it. But it’s hard to use. Bets are denominated in USDC, and the gas, or on-chain computation fees, to deposit and withdraw the dollar-pegged stablecoin to and from Polymarket can cost more than the amount being wagered. Source link

BTC price falls back to $47K as weekly close neatly tracks Bitcoin futures gap

Bitcoin (BTC) retested $47,000 on Sept. 19 as the weekly close looked set to hinge on the CME futures gap. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin comes full circle after erasing gains Data from Cointelegraph Markets Pro and TradingView showed mixed signals from BTC/USD as the week drew to a close. Saturday had seen a stronger rally from the pair, which subsequently gave way to ranging behavior amid an absence of clear direction. “Happens quite often in the markets,” Cointelegraph contributor Michaël van de Poppe explained. “Slight rally on…

Why a CBDC Would Make the Fed’s Job Miserable

This episode is sponsored by NYDIG. Download this episode A reading of JP Koning’s essay for Coindesk “Are Central Bankers Ready for Payments Theater?” See also: Biden Administration Plans Cryptocurrency Sanctions to Combat Ransomware “The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Stefani Reynolds/Bloomberg/Getty Images, modified…

Ethereum killers or just pretenders? But Ether remains king for now

The term “Ethereum killer” is beginning to pick up the pace once again in the cryptocurrency markets as the native tokens of several competing blockchain networks are posting significant gains during September. For any alternative network to be considered as a part of this category, it needs to have one essential feature that serves as the backbone of the Ethereum network: smart contracts. Keeping this in mind, the most prominent blockchain networks by market capitalization that usually come under this purview are Cardano (ADA), Solana (SOL), Binance Smart Chain (BSC),…