Crypto News

Even with no hearings scheduled this week-because who needs deadlines?-industry reps and senators spent what was described as a “productive and collaborative” afternoon, a phrase that in Washington usually means everyone nodded politely and avoided eye contact during the real disagreements. The major players from Coinbase, Kraken, Chainlink, a16z, and Ripple? They were in the room, probably wondering if this was all a giant test to see how much time they could spend talking about tokens before someone accidentally blushes.

Seyffart agrees with Bitwise (another impressively named firm) that the ETF floodgates will open, but thinks the public will rapidly realise they possibly, maybe, didn’t need an ETF tracking, oh I don’t know, the price of unicorn farts, or whatever the latest crypto obsession is. There are currently 126 applications with the SEC just waiting to be rubber-stamped. It’s like they’re just… throwing stuff at the wall to see what sticks. Which, let’s be honest, is generally how I approach online dating. 🙄

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The former rule, seemingly constructed upon a foundation of excessive caution, decreed that uninsured banks should be held to the very same standards as their federally insured brethren. A most sensible notion, one would think, preventing – or attempting to prevent – the more precarious institutions from dabbling in ventures fraught with, shall we say, uncertainty.

Mark your calendars, for Dec. 17th shall live in infamy (or at least in Excel spreadsheets) as Ripple took to X with a proclamation: “RLUSD has conquered its first year with such vigor, one might say it’s shooting lasers at the competition!” The likes of markets and investors? They’re a-chitter-chatter-chatterin’ about this one, folks. It’s the crypto equivalent of a gold-digging optimist with a trust fund and a smiley face. 😄

As per the chronicles of SoSoValue, this curious phenomenon hath persisted a full moon’s cycle, suggesting investors now favor XRP’s regulated charms over Ethereum’s erstwhile allure. One might fancy this a crypto version of Sense and Sensibility – albeit with rather more blockchain and rather fewer drawing-room scandals 📊💔

As I type this riveting account, Ethereum’s price is dancing between $2,900 and $2,960-roughly 23% below its October highs of around $3,800. Talk about a rollercoaster! 🎢 This dip came right after Ethereum decided to play hard to get, failing to hold onto levels above $3,400 earlier this month, which sent short-term sentiment plummeting faster than I can say “market reset.”

And yet, while the price clings desperately above certain key support levels-like a cat on a tree limb-it becomes quite clear that a host of indicators shout in unison, warning us of the persistent specter of selling pressure. The market, dear reader, remains ensconced in a state of cautious restraint, akin to a timid lover contemplating a confession of affection.

The AVAX token, once a darling of the crypto sphere, now languishes at $11.95, its lowest since the frosty days of November 2023. For 13 weeks, it has danced the downward tango, outpaced by its peers like Solana and Ethereum, who seem to have found a rhythm it cannot match. 💃

Enter stage left: Shanaka Anslem Perera, a bard of the blockchain, who whispers not of markets but of psychology-a word as slippery as an eel in a bathtub. He invokes the spectral spectacles of Kahneman and Tversky, those sages of sorrow, whose “prospect theory” posits that losses sting twice as fiercely as gains delight. Imagine, dear reader, the agony of watching your digital doubloons evaporate like morning dew upon a gambler’s brow! 🧠💡