Bitcoin on Monday plunged to its lowest level since June 19, as investors expect the Federal Reserve to raise interest rates again later this week, with its two-day meeting due to conclude Wednesday.
The cryptocurrency BTCUSD traded at as low as $18,277.5 on Monday, according to CoinDesk data. Bitcoin has lost about 3.7% over the past 24 hours and almost 55% year-to-date. The Merge has transitioned Ethereum’s consensus mechanism from proof-of-work to proof-of-stake. Previously, under proof-of-work, Ethereum was secured by miners, where it requires high consumption of computational power. Now, operating on the proof-of-stake mechanism, the network is secured by stakers, or Ether holders who lock up their tokens.
“It was weak macro conditions and absolute crickets on The Merge that was the end result,” Donnelly said in a recent note.Last week, Gary Gensler, chairman of the Securities and Exchange Commission, said that cryptocurrencies and intermediaries that allow holders to stake their coins may pass the Howey test, which is used by courts to determine whether an asset is a security. Gensler said he wasn’t referring to any particular cryptocurrencies.
Source: Digital Coin News (digitalcoinnews.net)
Because they’re a scam?
Tulips are wilting 🥀
裏付けがないからねぇ。 今暴騰狙うなら日本円だと思うよ。
But I thought crypto was a ‘Store of Value’? 🤔😆😆😆😉
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