Tron got accused of a governance attack on the DEFI lender Compound and now the members of the crypto think tank GFX Labs say a whale is trying to swing a vote in their favor so let’s read further in today’s latest Tron news. The member of the GFX Labs governance division is sounding the […]

Myanmar’s Junta wants its own digital currency but the government in exile still pushes Tether as the main crypto to use so let’s read more today in our latest cryptocurrency news today. The military government is proposing and creating its own digital currency after a year of overthrowing the elected leader. Myanmar’s Junta wants to […]

NFTs were once the red-headed stepchildren of crypto, facing skepticism and insults all around. However, the narrative has changed dramatically since the NFT Boom of 2021 and the rise of NFT marketplace giants. On a wave of success OpenSea saw off January 2022 with a record breaking monthly volume of $4.9 billion, and over 2 […]

Key Takeaways Crypto projects often distribute tokens to dedicated users through airdrops. Token airdrops have different eligibility requirements. Researching new protocols and becoming active...

Instagram model Irene Zhao has cleverly monetized her "simps" by turning them into NFT holders and DAO members. Mike Novogratz is a member.

London-based venture capital firm, SuperSeed has recently announced the launch of a £50 million fund to invest between £500k and £1.

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Although the Russian government has a rather ambivalent attitude towards the cryptocurrency industry in general, citizens seem to be attracted by the benefits it offers. As a result, demand for mining equipment continues to skyrocket.

The ENJ coin price breaks above the long-coming falling wedge pattern resulting in an overnight trend reversal, aiming to break above the $2 mark. Co-founder of Enjin, Witek Radomski authored the code to create one of the very first Non-fungible Tokens (NFTs) in the world. He is the co-author of the ERC-1155 Ethereum token standard. Based on an on-chain platform and a blockchain infrastructure, the Enjin ecosystem allows businesses and game developers regardless of size to make use of tokenized digital assets in the course of their engagement, acquisition, retention, and strategies for monetization. The Enjin ecosystem is powered through Enjin Coin, an e-currency used to support the worth of blockchain-based assets. Let us move ahead to read about ENJ technical analysis. Past Performance of ENJ The ENJ coin price action makes a follow-through candle of the morning star pattern made slightly below the resistance trendline of the falling wedge. The morning star and the follow-through candles result in a price jump of over 15%. Thus, resulting in the breakout of the falling wedge pattern in the daily chart.  ENJ/USD Daily Chart ENJ Technical Analysis The ENJ coin price action breaks above the long-coming falling channel pattern in the daily chart. Therefore, traders can expect the post-breakout rally to break above the $2 psychological mark. The crucial Exponential Moving Averages (50 and 200-day) showcase a death cross in the daily chart as the EMAs maintain a falling trend. However, the price jump may shortly reverse the trend in EMAs.  The RSI indicator indicates that the slope is increasing over that 14 day-SMA as well as the centerline of the daily chart. The increase is after the bullish divergence that is seen within the band. So, a continuation in the bullish direction could be likely. The Stochastic RSI indicator shows the K and D line undermining the previous bearish crossover as the K line gives a bullish crossover with the D line. The lines remain in the overbought zone reflecting a boom in underlying bullishness.  In a nutshell, the technical indicators represent the bulls taking over the ENJ price trend with the falling wedge breakout. Therefore, traders can expect a pst-retest rally. Upcoming Trend The ENJ technical analysis shows the coin price action demonstrating a bullish breakout of the falling wedge pattern in the daily chart. However, the price is yet to retest the breakout, that is why a reversal in the upcoming days is possible.  Buyers at the current price can expect a target above the $2 mark, close to the $2.15 horizontal level. However, the bearish influence by the death cross can result in a retest prior to the bullish rally.

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The idea of creating and developing a Central Bank Digital Currency (CBDC) has been ongoing for a long time. Although China officially brought the idea to the fray, many countries have been riding on the ongoing trend. While some are done, others are just brainstorming on how to create their CBDC. One such country is […]

The Federal Reserve Bank of Boston and the Massachusetts Institute of Technology (MIT) have jointly published their long-awaited technical research and open-source code for a potential central bank digital currency (CBDC). The 35-page white paper is part of a joint initiative announced in August 2020. Dubbed Project Hamilton, the phase of the project ‘focuses on technological experimentation and does not aim to create a usable CBDC for the United States.’ The researchers also released the open-source code for Project Hamilton which is available in github for contributions. Overall, they found that the system was capable of handling 1.7 million transactions per second, while the vast majority of transactions were able to settle in under two seconds. As a whole, the researchers said they met their goal of creating a core processing engine for a potential general-purpose CBDC. Commenting on the development, Boston Fed Executive Vice President and Interim Chief Operating Officer Jim Cunha said: “It is critical to understand how emerging technologies could support a CBDC and what challenges remain. This collaboration between MIT and our technologists has created a scalable CBDC research model that allows us to learn more about these technologies and the choices that should be considered when designing a CBDC.” Boston Fed, MIT Research Separate from the US Fed Over the next few years, MIT and the Boston Fed said the second phase of the Hamilton project will explore alternative designs to the technical implementation of CBDCs and build upon the first phase’s focus on privacy, resiliency and functionality. The partnership between the Boston Fed and MIT is separate from the digital dollar research which was recently published by the Federal Reserve last month.

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Belarus, a crypto-friendly country is preparing to allow investment funds to invest in digital currency. The plan is part of a slew of law measures aimed at luring such organizations to the country.  The Ministry of Finance has submitted amendments aimed at enticing investment capital to Belarus. Despite having a statutory framework in place for communal investments, no single fund has been registered in the country to date. Representatives from professional circles have pointed out that one of the key reasons for the lack of such funds is that they are now prohibited from investing in crypto assets. According to the finance ministry, the market for ‘digital signs (tokens),’ the legal word for cryptocurrencies, has been rapidly expanding. The ministry has drafted a resolution revising its own decree on securities market activities relevant to investment funds. It intends to allow the funds to work as securities dealers and inhabitants of the Belarus High-Tech Park at the same time (HTP). The latter is in charge of a specific legal framework designed to help the country’s digital economy, which includes the crypto sector. Belarus opened its doors to crypto firms in the spring of 2018 when it passed a decree ‘On the Development of the Digital Economy.’ President Alexander Lukashenko approved the legislation, which included tax reductions and other incentives for businesses working with digital assets.  While it is illegal to use cryptocurrencies for payment in Belarus, HTP residents can create and exchange coins and tokens. The country’s largest bank offers a service that allows users to purchase and sell digital currencies.  According to Chainalysis’ crypto adoption index, Belarus is ranked third in Eastern Europe after Russia and Ukraine, due to substantial peer-to-peer activity.

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