Keep a lid on Hinman!

DATE: 27-12-22 View online Hey Cryptonews, here's our curated daily bundle of crypto news. Solana-based NFT projects announce migration Dust Labs' DeGods and y00ts projects are moving to Ethereum and Polygon, respectively Decision made to 'explore new opportunities' According to Rohun Vora, the creator of DeGods and y00ts, both projects will be officially bridged to Ethereum and Polygon, respectively, by the first quarter of 2023. Both these projects have traditionally been among the biggest on Solana's network. Ergo, the effects of the aforementioned migration might be significant.  Vora went on to add that this migration will allow projects to be on platforms that will drive the next wave of NFT adoption. Here, it's worth noting that the bridge migration will be holder/owner 'opt-in.' Over the last ten days, SOL's price has fallen by over 12% on the charts. Correspondingly, the number of Solana NFT transactions has fallen significantly too since its November peak.  Learn more United States' SEC wants Hinman speech docs sealed Plaintiff filed the motion to seal the aforementioned docs on the 22nd Request made within weeks of Ripple Labs making its final submission The plaintiffs in the SEC v. Ripple Labs case have requested the court to seal the Hinman speech documents. According to the SEC, they are not relevant to the court's summary judgment. On the contrary, the defendants believe the speech docs are vital to their case against the American regulator.  In fact, the plaintiffs went as far as to argue that the SEC's mission far outweighs the public's right to access documents. In doing so, the SEC also requested the court to redact any reference to the same from the defendants' papers.  The Hinman speech documents refer to the speech given by former SEC exec William Hinman back in June 2018. During the same, he had argued that Ether, the native token of the Ethereum blockchain, is not a security.  Bitkeep, BTC.com lose millions after exploits Hackers drained $8M from BitGet's non-custodial wallets In a separate incident, BTC.com lost around $3M to a cyberattack Bitkeep wallet's users reported seeing their wallets drained and funds transferred, without their knowledge, with access to the same denied as well. Within hours, the exploit was confirmed by Bitkeep's Telegram group. According to an update shared by the team, hijacked APK package downloads with implanted codes were responsible for the exploit.  Soon after, Bitkeep requested users to transfer funds to wallets that come from 'trusted sources.' It also asked users to use newly-created wallet addresses since the previous ones might have been leaked to the hackers.  In a separate incident, popular mining pool BTC.com lost around $3M, including $700K in clients' assets following a cyberattack. Soon after, the shares of BTC.com's parent company fell on NASDAQ.  Learn more Kabosu, the real-life face behind Dogecoin, seriously ill The Shiba Inu's health is reportedly in a 'dangerous position' News of Kabosu's ill-health led to an outpouring of support and good wishes According to a blog post by Kabosu's owner Atsuko Satō, the rescue dog is currently in a dangerous state. It's worth pointing out, however, that she clarified that the Shiba Inu will be 'absolutely fine' since Kabosu is 'getting power from all over the world.' Billy Markus, the co-creator of Dogecoin, was one of many to wish Kabosu well, with the former exec tweeting 'Send love and prayers and good vibes.' Following an image of Kabosu going viral for the Doge meme format, it was picked up by Markus and the Dogecoin community. Kabosu's image has contributed significantly to the virality and community sentiment associated with Dogecoin over the years. In fact, DOGE today is also the most traded token among BSC whales.  Japan to lift ban on foreign stablecoins in 2023 The country's FSA might soon lift its controversial ban on foreign stablecoins Reportedly, this decision is being made after revising Cabinet Office ordinances According to local media, Japan's Financial Services Agency is likely to lift its ban on the distribution of stablecoins issued abroad in 2023.  In doing so, the FSA plans to establish appropriate guidelines which stand in line with the latest Revised Payment Services Act. In fact, the FSA has also conducted a review of stablecoins and their potential impact on Japan's financial system. Reportedly, in the interest of consumer protection, stablecoins issued overseas will be supervised by local distributors. Additionally, these distributors will protect the stablecoin's value. Sufficient reserves would be maintained and a limit of 1 million Yen per transaction would be enforced for the remittances facilitated by these stablecoins. As far as stablecoins issued within Japan are concerned, the issuers will be required to prepare collateral assets. Issuers are limited to banks, fund transfer service providers, and trust companies. Finally, as an anti-money laundering measure, stablecoin distributors will be required to disclose certain information to the FSA.  Learn more Acquisition talks between Vauld, Nexo break down Until recently, Vauld and Nexo were in the middle of extending the due diligence process Vauld filed for creditor protection <5 months ago after the market-wide liquidity crisis Soon after Vauld suspended all services and filed for creditor protection, Nexo, one of Vauld's competitors, took the first steps towards possibly rescuing it via acquisition. However, despite hopeful expectations, an email obtained by Bloomberg revealed that recent talks have 'unfortunately not come to fruition.' This, despite Nexo offering a revised acquisition proposal on 2 December.  Here, it's worth noting that Nexo has reportedly faced a few issues over the last few months. In fact, just recently, its execs were tackling a smear campaign which involved allegations of its execs stealing charity funds. Similarly, regulatory challenges mean Nexo will no longer be offering services in the United States. Vauld must now present a new restructuring plan by 20 January.  Fidelity has NFT marketplace plans for the Metaverse Fidelity Investments has filed a host of new trademark applications in the U.S These filings relate to an NFT marketplace plus crypto-trading services in the Metaverse The three trademark filings were made before the U.S Patent Trademark Office on 21 December. The range of the applications in question suggests Fidelity is ready to offer a host of services in the virtual world. Reportedly, this might include mutual funds, retirement funds, and financial planning schemes.  In fact, Metaverse-based payment systems could be in the pipeline too, with the foundations being set for a virtual currency wallet as well. Finally, Fidelity plans to educate its audience too by, "... conducting classes, workshops, seminars and conferences in the field of investments and in the field of marketing financial services." Fidelity was in the news a few weeks ago when U.S Senators including Elizabeth Warren requested the firm reconsider its crypto-centric retirement products.  Marginal to no gains for BTC, MATIC, and LTC Coin Price 24hr Market Cap ↑BTC $16,871 0% $324 Billion ↑MATIC $0.81 +1.6% $7.2 Billion ↑LTC $70.27 +1.7% $5.04 Billion The world's largest cryptocurrency, Bitcoin was trading at $16,871 at press time. While it did seem to attain some degree of stability on the charts, those who expected a Santa rally from BTC were disappointed. In fact, little to no volatility has been seen on the charts. With a market cap of $324 billion, the Moving Average on the crypto's charts was too close to the price candles. The Relative Strength Index was just below the neutral 50-zone too - A sign that there's no prevailing market trend yet.  In comparison, MATIC saw some movement on the price charts, with the altcoin hiking by just 1.6% over the last 24 hours. Priced at $0.81, the crypto had a market cap of over $7 billion. Here, it's worth noting that MATIC did not see much action following Polygon's release of the second version of the zkEVM public testnet. On the charts, the mouth of the Bollinger Bands was holding steady around the price candles while the CMF was marginally above zero. The latter suggested that despite the indifferent price action, there have been capital inflows.  Thanks to its recent uptrends, Litecoin seemed to be appreciating at press time. Following a daily hike of 1.7%, LTC had a market cap of $5.04 billion. This, on the back of a healthy weekly hike. As far as the indicators were concerned, the Parabolic SAR's dotted markers highlighted the altcoin's bullishness on the charts. Similarly, the MACD seemed to be on the verge of overtaking the Signal line - A finding that seemed to project a firmer reversal of trend.  Some degree of depreciation over 24 hours Coin Price 24hr Market Cap ↓AXS $6.82 -1.3% $778 Million ↓MANA $0.32 -1.7% $590 Million ↓DOGE $0.07 -0.9% $10.3 Billion The altcoin ranked 49th in the crypto-market, AXS's price action has been underwhelming of late. Priced at $6.82 at press time, the altcoin was down 1.3% over the last 24 hours, with the crypto having a market cap of just under $800 million. On the charts, AXS's Moving Average was very close to the price candles. However, in light of the fact that it was above the price candles for a long time, one might guess a trend reversal is incoming. Furthermore, the CMF was touching zero - A sign of the equilibrium between capital inflows and outflows.  MANA was priced at $0.32 on the price charts following a depreciation of 1.7% over the last 24 hours. With a market cap of $590 million, the crypto was trading at a level well below the figures seen earlier in the year. As far as the indicators are concerned, they seemed to flash mixed signals for the altcoin. While the Parabolic SAR's dotted markers were well below the price candles and highlighted some bullishness, the RSI was closer to the oversold zone rather than neutral 50.  Dogecoin, the crypto-market's favorite memecoin, was valued at $0.07 at the time of writing. Having fallen by less than 1% in 24 hours, DOGE had a market cap of over $10.3 billion. This made it among the market's top-10 cryptocurrencies by market cap. On the price charts, DOGE's Bollinger Bands were somewhat widening around the candles - A sign of incoming volatility. The same was supported by the recent uptrend in the CMF. With the indicator popping up above 1, capital inflows can be expected.  A weekly hike in progress Coin Price 1w Market Cap ↑ETH $1,223 +4.8% $147 Billion ↑XRP $0.36 +7% $18.2 Billion ↑ADA $0.26 +4.3% $9.2 Billion Ethereum, the world's largest altcoin, was priced at $1,223 at the time of writing. While it didn't see much movement over the last 24 hours, ETH was up by >5% over the week. On the price front, however, the altcoin isn't doing as well as it was over a few months ago. While The Merge was a positive catalyst, the crypto hasn't priced in these developments yet. Instead, the market-wide bearishness has enveloped the altcoin. As far as the indicators are concerned, they seemed to be flashing mixed signals at press time. While the Parabolic SAR's dotted markers underlined some recent bullishness, capital outflows were exceedingly common across the board.  With a value of $0.36, XRP was priced at a level far from where its proponents expected it to be. According to many, the SEC's lawsuit against Ripple Labs surely played a part in the same. In fact, the same is still ongoing, with the agency's request to seal Hinman's speech being the latest update in the same. The altcoin did appreciate by 7% over the last seven days to have a market cap of over $18 billion at press time. Worth noting, however, that the mouth of the Bollinger Bands seemed to be closing in on the price candles - A sign of compressing volatility. Similarly, the RSI had peaked to touch 50 on the charts.  Ranked 9th on the charts, ADA was priced at $0.26 with a market cap of $9.2 billion. Like ETH and XRP before it, the crypto also hiked over the last week - A price appreciation of >4%. For Cardano, while there are quite a few updates on the horizon, the lack of price action after the most recent updates is worth noting here. As far as the indicators are concerned, they seemed to be heading in opposite directions. While the Parabolic SAR's markers were above the price candles and hinted at bearishness, the MA was close to a reversal.  Share with friends: Facebook  | |  Twitter  | |  Email © 2022 Unhashed. All Rights Reserved. Unsubscribe