Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
Veröffentlicht am

Pro Bitcoin US Senator to table new crypto bill in 2022

The Wyoming Senator is looking to provide clear guidance on regulations for various asset classes via a proposed crypto bill

Senator Cynthia Lummis is preparing to bring a comprehensive bill into congress, according to a report by Bloomberg. The said bill will enact crypto users‘ protection and provide guidance on assets and their classification. It will also provide guidance on the regulation of stablecoins and also define how the digital assets should be taxed, Bloomberg reported on Thursday.

A Bitcoin proponent, Lummis has been a long-time champion for favourable crypto regulations. Her proposed bill, if approved, would go a long way in clarifying the situation on current laws and the status of digital assets in the US. The proposal will seek to establish an oversight body under the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) joint jurisdiction.

Even before election to her political seat, Senator Lummis was a Bitcoin advocate having fiercely defended the asset. In fact, she is one of the few politicians to have accepted campaign donations in crypto; her website took contributions in Bitcoin via BitPay. In a recent op-ed, she questioned the nominations of Jerome Powell and Lael Brainard to the Federal Reserve as their political handling of digital assets stood in the way of crypto in Wyoming.

A divided house, literally

Senator Lummis has got her work cut out, and she knows that it won’t be easy to get the house to agree on her proposal. The Republican lawmaker currently sits at the Senate Banking Committee and will be hoping to gain assistance in normalising digital assets in the country through regulations.

On her Twitter platform, the Senator has urged voters to push their Senators towards supporting the bill as she seeks bipartisan cosponsors from a relatively split house as far as digital assets are concerned.

For any regulation to be put to the vote at the floor of the house, a minimum of 60 votes is constitutionally required, with the house currently split 50 – 50, Democrats – Republicans. Vice President Kamala Harris holds the deciding tiebreaker vote if need be.

The Wyoming Senator declared her ownership of Bitcoin in October as required by the Stop Trading on Congressional Knowledge Act. Lummis revealed that she made the purchase in August – a disclosure that crowns her as a Bitcoin evangelist in the political circle of regulations. As per a Wall Street Journal report, the only other member of the Senate Banking Committee with direct crypto exposure is Senator Pat Toomey. 

Elsewhere in the House of Representatives, questions have arisen on crypto ownership and other digital assets. Congressional Representative Alexandria Ocasio-Cortez, who sits on the House of Representatives‘ Financial Services Committee, recently spoke out, saying owning these assets could well cloud the judgement of lawmakers, as they are privy to „sensitive information and upcoming policy.“

The post Pro Bitcoin US Senator to table new crypto bill in 2022 appeared first on Coin Journal.

Veröffentlicht am

VeChain (VET) sees liftoff after broader crypto market sees gains – Can it hold the momentum?

The broader crypto market has seen some consolidating gains this week after a slumpy December. VeChain (VET) has followed major coins like Bitcoin and Ethereum to report gains. In fact, since the start of the week, VeChain (VET) has been up nearly 25%. The coin was also up nearly 5% in intraday trading today. But can this uptrend hold? Here are some highlights first:

  • VeChain (VET) has been one of the best performing altcoins in the last 7 days, with gains of up to 25%

  • Despite this, the coin is still 50% lower compared to its highs in November and 65% down from its yearly highs.

  • Relative Strength Index (RSI) shows bullish momentum is picking up, albeit buying activity is not that intensive.

Data Source: Tradingview.com 

VeChain (VET) – Price action and prediction

The recent weekly gains appear to have pushed VeChain (VET) back into a bull trend after spending the most time in the red this month. Right now, the coin has surged beyond its 50-day simple moving average. We are also looking at a very positive RSI with bullish activity expected in the near term.

VeChain (VET) still has to cross over $0.0963 for any breakout to be seen. At the time of writing, the coin was a bit below that resistance with a price of $0.09174. It is also important to note that VeChain (VET) is still over 65% below its all-time highs this year. It’s highly unlikely the coin will test those numbers again in 2021.

Should you buy VeChain (VET)

VeChain (VET) at one time had peaked to a market cap of nearly $16 billion, showing that it sparked a lot of confidence from investors. The coin has since lost nearly $10 billion in market cap ever since but despite this, the long-term fundamentals are still very good for VET. For folks who just want to buy and hold, it is a decent asset.

The post VeChain (VET) sees liftoff after broader crypto market sees gains – Can it hold the momentum? appeared first on Coin Journal.

Veröffentlicht am

NEAR Protocol (NEAR) continues bullish surge into the week – is it time to buy?

NEAR Protocol (NEAR) started off the week with some incredible gains. The coin appears to have held steady, adding up to this surge. In fact, in intraday trading today, the coin was up nearly 16% at the time of writing. Analysts see the uptrend holding steady into early 2022. So, should you buy NEAR? Well, here are some notable facts:

  • A bullish trend that started earlier in the week has culminated in superb intraday gains of nearly 16%

  • NEAR has easily surged beyond its $11.83 resistance and is now testing $17.5

  • RSI readings look positive, with NEAR also trading well above the 25- and 50-day simple moving averages.

Data Source: Tradingview.com 

NEAR Protocol (NEAR) – price action and prediction

It’s been quite a superb week for the NEAR Protocol (NEAR) overall. The coin started off on Monday with decent gains and appears to have maintained the uptrend till now. At press time, NEAR was selling at $15.62, nearly 16% up in 24 hours. 

Many analysts were watching to see if the coin would break the $11.83 resistance. It did quite easily, and now, the intraday surge has NEAR tested the $17.50 mark. 

If the bullish uptrend seen this week holds a bit longer, it is likely that the coin will surpass that threshold. After that, a serious breakout could push NEAR into new highs. But there are a few headwinds to note, including possible market-wide volatility in cryptos at the start of 2022.

Should you buy NEAR Protocol (NEAR)

To be fair, the NEAR Protocol (NEAR) has been one of the most popular blockchains for investors, and for good reasons. Its fundamental value is still good and in the long term, NEAR will be worth more. But the recent bullish surge gives even short-term traders a decent chance to load up on NEAR and ride the uptrend for as long as possible.

The post NEAR Protocol (NEAR) continues bullish surge into the week – is it time to buy? appeared first on Coin Journal.

Veröffentlicht am

Should you buy Crypto.com (CRO)? price action and analysis to follow

The downtrend for Crypto.com (CRO) over the past few weeks has been quite consistent. The coin was mostly trading slightly lower or above its support of $0.5. Bearish momentum also looked likely to hold till year-end, but a sudden resurgence is bringing back some positive outlook in the near term. At the time of writing, the coin was up nearly 15% in intraday trading. Here are some highlights:

  • Despite a consistent downtrend in recent weeks, CRO appears to have snapped out decline with a 15% surge in intraday gains.

  • However, the coin is still facing overhead resistance at $0.63 and must sustain today’s gains to cross over that threshold.

  • The long-term outlook for CRO remains extremely positive despite recent downtrends and headwinds.

Data source: Tradingview.com

Crypto.com (CRO) – price action and analysis

At press time, CRO was trading at $0.64. This was nearly 15% higher in intraday trading, but most importantly, the coin had managed to break slightly above its overhead resistance of around $0.63. 

Also, the latest price action shows that CRO has surged well over its 50-day moving average, something that could suggest a reversal of the bearish trend we have seen for most of December. 

However, whether the coin can sustain these gains and build up some decent momentum in the near term depends on sentiment across the broader crypto market. If bearish trends swipe through, they will weigh heavily on CRO, eventually pulling it closer or below the $0.5 support.

Should you buy Crypto.com (CRO)

Crypto.com (CRO), one of the leading crypto exchanges in the world, has been making quite some moves this year. The platform has signed multiple endorsements, and advertisement deals with several sports brands in a bit to attract more users. Crypto.com is also doing very well with NFT trading. It’s a good long-term buy, no doubt if fundamentals are anything to go by.

The post Should you buy Crypto.com (CRO)? price action and analysis to follow appeared first on Coin Journal.

Veröffentlicht am

Cosmos (ATOM) is up over 10% in 24-hour bullish breakout – price analysis and prediction

Cosmos (ATOM) is seeing a bullish breakout in intraday trading, surging over 10% in the last 24 hours. The coin, at the time of writing, was trading at $29.09. Analysts see resistance around $30.76, and it seems ATOM is struggling to break that threshold. But it’s still consolidating, and with the current momentum, the coin is likely to add up to today’s intraday gains. Here are some highlights to note:

  • Cosmos (ATOM) is currently trading above its 200-day simple moving average, a positive outlook on its trend.

  • ATOM is facing overhead resistance of around $30.76, and despite the 10% surge, its yet to break above that price

  • Nonetheless, the coin is above the 20, 50, and 200-day simple moving average, a bullish alignment that will see more growth.

Data Source: Tradingview.com 

Cosmos (ATOM) – price action and predictions

Most momentum indicators on ATOM appear to suggest a bull run is well and truly underway. As noted above, the coin is trading above three key SMAs, a sign that buyer activity is high. Also, the relative strength index shows a bullish resurgence. 

In fact, many analysts see the RSI pushing ATOM above its $30.76 resistance, something that could trigger a sustained uptrend or price consolidation around $30. Besides, the coin has largely traded around daily highs today, something that suggests a reversal of this bullish uptrend is unlikely in the near term.

Should you buy Cosmos (ATOM)

Cosmos is an innovative blockchain project designed to give the industry a better alternative to the more expensive and energy-consuming proof-of-work networks. Ever since its launch in 2016, the chain has earned praise and admiration across the board. It is here to stay in fact, Cosmos is expected to be a major player in the blockchain ecosystem in the long term. So, for long-term value investors, it is a great buy.

The post Cosmos (ATOM) is up over 10% in 24-hour bullish breakout – price analysis and prediction appeared first on Coin Journal.