Cryptocurrency

Ethereum, the leading altcoin, is currently trading at $1,615 per token, but analysts are keeping a close watch on its potential for growth. Noted expert , a prominent figure in crypto circles, has pointed out a compelling pattern on the three-day chart.Source: The price range of $1,800 to $1,900 per is drawing considerable attention. This zone signifies a 50% to 61.8% price correction from the prolonged fall since mid-April, a textbook correction by market standards.As Ethereum approaches these critical price levels, the market will gain greater clarity on its future trajectory. Observers anticipate that breaking and consolidating above these key levels will provide the green light for further upward momentum.This article was originally published on U.Today More

The U.S. Securities and Exchange Commission (SEC) announced its intention to dismiss all claims against Ripple CEO Brad Garlinghouse and executive chair Chris Larsen on Oct. 19. The event marked a significant legal win for Ripple in the civil case filed by the SEC in late 2020.Continue Reading on Cointelegraph More

Tesla’s reticence toward Bitcoin transactions comes at a time when its overarching business strategies are evidently shifting. The report summarized the company’s prime objectives for Q3, 2023, emphasizing cost reductions per vehicle, maximizing delivery volumes, and a sustained commitment to investment in AI and growth projects. Notably, the cost of goods sold per vehicle witnessed a dip, settling at approximately $37,500 during this quarter.Source: Despite the teething troubles of newer manufacturing units bearing higher production costs than their older counterparts, Tesla took proactive measures. The company initiated upgrades in Q3, eyeing further reductions in unit costs. Tesla’s report underscored its belief in the philosophy that true industry leadership is synonymous with cost leadership, especially in a domain as competitive as electric vehicles.Furthermore, in the context of a burgeoning high interest rate environment, Tesla’s strategy is crystal clear. The company is vested in bolstering investments in R&D and capital expenditures aimed at future growth. Simultaneously, it is ensuring the preservation of a positive free cash flow, which notably touched $2.3 billion year-to-date. This financial prudence has fortified Tesla’s cash position and overall .One of the standout features in Tesla’s quarterly update was its robust focus on artificial intelligence. The company reported a twofold expansion of its AI training compute. This augmentation is pivotal for the development of projects like the Optimus robot.This article was originally published on U.Today More

On Oct. 18, during a public discussion on the Filo News channel, Argentina Central Bank director Juan Agustín D’Attellis Noguera revealed that the central bank is working on the legislative framework for the digital peso CBDC project recently proposed by the Minister of Economy and presidential candidate Sergio Massa. Continue Reading on Cointelegraph More

Tether, which is based in the British Virgin Islands, paid over $40 million in 2021 to settle allegations related to its collateral pile. The company had around 60 employees overseeing USDT as of May and plans to expand its team to 90 by the end of 2023. Its assets are primarily composed of short-dated US Treasury bills, and it works with banking partners such as Cantor Fitzgerald, Deltec Bank & Trust Ltd., Britannia Bank & Trust, and Capital Union Bank.In his new role, Ardoino plans to publish real-time data on Tether’s reserves and expand tech investments, regulatory liaisons, and renewable energy ventures. He will also continue his work as CTO at Bitfinex, Tether’s sister cryptocurrency exchange, where he will focus on its matching engine. Giancarlo Devasini serves as CFO for both companies.Regulatory challenges are on the horizon for Tether as authorities plan stricter rules on stablecoin issuers. Regulations from the European Union (EU), set to come into effect in June 2024, will require operators to disclose their corporate governance plans, shareholders, and risk management practices.Industry consultant Austin Campbell highlighted the pressure on Ardoino to deliver a full financial audit of Tether’s books in 2022. Campbell also pointed out potential difficulties arising from US legislation on stablecoins.Ardoino, who is based in Lugano, Switzerland, is preparing for these challenges and is also gearing up for Tether’s annual Bitcoin-themed conference and summer school in the city.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

On Thursday, October 19, 2023, Ripple won a key legal battle against the U.S. Securities and Exchange Commission (SEC) over alleged securities law violations. This string of successful legal battles has allowed XRP Coin to reach its $0.52 limit.Meanwhile, LBRY, the creator of Odysee, announced its closure due to debts to various parties including the SEC. Despite a penalty reduction to $130K, LBRY decided against appealing. The closure of LBRY, which had a market cap of $5.5 million, sparked criticism from crypto influencers Ashley Prosper and Slorg, as well as Pro-XRP lawyer John Deaton. They criticized the SEC’s heavy-handed approach towards smaller entities like LBRY while failing to prevent larger failures like FTX.Fox News journalist Eleanor Terrett noted that despite Ripple’s victory and a market cap of $27 billion, its litigation isn’t over due to its $700M+ institutional sales and pending Section 5 violations. The SEC has requested a schedule for further litigation until November 9, 2023.Garlinghouse and Larsen openly criticized the SEC for what they perceived as political motives behind their charges. However, Ripple’s successful legal journey continues to impact its business positively and enabled XRP Coin to hit its price limit.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

The “higher low” pattern, for those uninitiated, is a technical indicator often signaling a bullish reversal in the asset’s price direction. It occurs when the price of an asset forms a low that is higher than the previous prominent low, which is precisely what seems to be emerging in Ethereum’s case. If this pattern solidifies, it could be a strong hint at the underlying strength of Ethereum’s price movement and its resilience against broader market downturns.Source: Adding fuel to this optimistic analysis is the rising trading volume accompanying Ethereum’s recent price action. Typically, an increase in trading volume is seen as a confirmation of a prevailing price trend. When associated with potential bullish patterns, such as the “higher low,” a surge in trading volume can indicate strong buying interest and reduced selling pressure.While it is always crucial to approach market predictions with a grain of salt, the current scenario paints an interesting picture for . The potential formation of a “higher low” pattern, combined with the bolstering trading volume, makes a compelling case for a possible price reversal. Investors and traders alike might want to keep a close watch on Ethereum’s next moves.First, let’s address the elephant in the room — the “death cross.” A death cross, a technical chart pattern signaling the potential for a major sell-off, is typically observed when the short-term moving average crosses below its long-term counterpart. However, in case, its relevance is debatable. The asset’s current trajectory and the broader market conditions do not necessarily resonate with the historically bearish implications of this pattern. It is essential to consider the broader picture and not get fixated on singular chart patterns, especially when they contradict other indicators.Speaking of indicators, the descending trading volume accompanying XRP’s price movement is worth noting. Traditionally, a decrease in volume during a downtrend might suggest a weakening of selling pressure. When analyzed alongside the steadfast $0.47 support level, this paints an intriguing picture. The subdued trading could indicate a possible exhaustion of bearish momentum, hinting at a potential trend reversal or, at the very least, a consolidation phase.First and foremost, there is a noticeable support level that ADA seems to be clinging to. This support level is not just a random point on the chart but carries historical significance. It was around this same price level in December where Cardano demonstrated resilience and staged a remarkable comeback. This price point has proven its mettle as a strong foundation, and ADA’s current adherence to it may hint at a potential repeat of history. In addition to the evident support, another captivating element in the chart is the squeeze taking place between this support level and the 50-day Exponential Moving Average (EMA). The 50 EMA has often been used by traders and analysts alike as a gauge for medium-term price direction. A squeeze like this typically indicates a tussle between the bulls and the bears, leading to an eventual breakout in one direction.This article was originally published on U.Today More

On Oct. 19 the FT quotes Yann LeCun as saying the premature regulation of AI technology will reinforce dominance of Big Tech companies and leave no room for competition. Continue Reading on Cointelegraph More