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Apr 30, 2023 at 09:04 // Price Author Coin Idol The price of Solana (SOL) is bearish as it crosses above the moving average lines. Solana price long-term forecast: bearish Solana has been moving mostly sideways since January 14. The upper resistance of $26 has proven too strong for buyers to overcome. The altcoin is now trading at its previous high of $23.25. The cryptocurrency's price fluctuates between $20 and $26. On April 28, when the price crossed the moving average lines, the altcoin regained positive momentum. The moving average lines are above the pr

One of the world’s leading payment processors, Mastercard, has unveiled its latest innovation: the Mastercard Crypto Credential. This new technology will allegedly pave the way for trusted and compliant interactions on public blockchain networks, revolutionizing how users transact with cryptocurrencies. As the popularity of crypto and blockchain continues to rise, so do concerns about security and compliance. That’s why Mastercard is taking a proactive approach, establishing a set of common standards and infrastructure to ensure trusted interactions among consumers and businesses on blockchain networks. According to their recent release, the Mastercard Crypto Credential will enable different levels of verification depending on the market and compliance requirements, opening up a world of possibilities for businesses and consumers alike. From music NFTs to everyday transactions, the Mastercard Crypto Credential will provide the necessary enabling technology to bring these us

UST Proposal Aims For $1 Repeg Almost a year after Terra’s gruesome debacle, members of the Terra Classic community are considering resurrecting the ecosystem’s doomed terraUSD classic (USTC) stablecoin. The failed chain got renamed to Terra Classic whereas the forked version — developed in the aftermath of UST’s de-pegging event — converted into Terra 2.0. advertisement Read More: Crypto Exchanges Lined Up For Shiba Inu’s BONE Listing After OKX, Huobi Discussions on community forums that date back to March are proposing a new model that addresses the problems with the initial design by utilizing staking, algorithmic peg divergence fees, token buybacks and unidirectional swaps. A divergence fee mechanism, as detailed by member “RedlineDrifter,” would levy a cost equal to the disparity in price between the peg and the market price of USTC. This fee may vary from 0% to 100% at a 50% deviation from the peg. Users who purchase USTC tokens would be responsible for

On April 27, prominent crypto exchange Coinbase responded to the SEC’s Wells Notice, which was served in late March. The exchange said that enforcement action against the company will pose a risk to the SEC, and “fail on the merits.” The company released a written response, along with a video of CEO Brian Armstrong and chief legal officer Paul Grewal. Coinbase reiterated that it “does not list, clear, or effect trading in sec urities.” Furthermore, the company stated that the SEC’s justification “appears to rest on superficial and incorrect analogies to products and services offered by others.” In its warning to Coinbase, the SEC stated that it would claim the company was issuing and selling unregistered sec urities, in violation of federal law. Moreover, the SEC warned Coinbase about the risk to its spot trading, staking, custody, and institutional trading businesses. The SEC could force the exchange to shut down those units if they are successful. The exchange has also filed a sui

Binance CEO Changpeng Zhao has denied a recent report from Bloomberg, which claimed that his net worth exceeded $28 billion. Bloomberg’s Rich List, which was released earlier this week, named the Binance Chief as the third richest person in Finance with a supposed net worth of a whopping $28.2 billion. Changpeng Zhao took to Twitter earlier today to address the matter and clarified that his wealth was nowhere close to what was purported by the report. The Binance CEO tweeted “4”, which is often used by him to flag certain reports as false. “Numbers all wrong. I don’t have anywhere near as much. Don’t know why they do this,” Zhao added. 4 Numbers all wrong. I don't have anywhere near as much. Don't know why they do this. Also, never viewed FTX as a rival. We welcome more (well run) exchanges in the space. pic.twitter.com/xfa31RZp7t — CZ Binance (@cz_binance) April 27, 2023 Zhao also took issue with the report’s characterization of FTX as a “rival exchange”. He

US House Seeks Details on Potential De-Bank of Crypto U.S. House Financial Services Committee Chairman Patrick McHenry , Digital Assets, Financial Technology and Inclusion Subcommittee Chairman French Hill , and Oversight and Investigations Subcommittee Chairman Bill Huizenga sent letters to Jerome Powell , Martin Gruenberg , and Michael Hsu seeking all records of the agencies. advertisement The House will investigate whether the Federal Reserve System , Federal Deposit Insurance Corporation ( FDIC ), and Office of the Comptroller of Currency coordinated an Operation Choke Point-type action to deny banking services to the crypto sector. Along with my colleagues @PatrickMcHenry and @RepHuizenga, we called on bank regulators to explain potential coordinated efforts by the agencies to deny banking services to digital asset firms and the ecosystem. https://t.co/ScJYUlZ3IT — French Hill (@RepFrenchHill) April 26, 2023 Trending Stories

Bitcoin’s Bullish Factors The most recent crisis to hit the banking industry in the United States has lately sparked a price boom in Bitcoin and indirectly re-established its primary use case “as a decentralized, trustless, and scarce digital asset,” according to the bank. Additionally, Kendrick pointed out a number of other parameters which he thinks would fuel the price of Bitcoin which includes the fact that the Federal Reserve would no longer be raising interest rates, the fact that the supply bitcoin would be halved again, and that regulatory benefits making into UK and USA would finally be realized. advertisement Read More: Do Kwon’s Latest Move Against U.S. SEC Could Be Game Changing, But Is It Enough? According to Standard Chartered, the fact that the Federal Reserve of the United States is drawing closer to the conclusion of its cycle of interest rate hikes should be favorable for risk assets in general. Bitcoin , being the king of risk assets, tends t