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Persisting uncertainty about the expected rate hikes by the FED

Persisting uncertainty about the expected rate hikes by the FED

created Simon peters5 Września 2022

The cryptocurrency market in the past seven days has once again stagnated due to continued uncertainty about expected interest rate increases Fed.

Bitcoin it is currently trading below $ 20 as its ever-closer correlation with stocks continues. Like Bitcoin, Nasdaq and S&P closed 000 percent. and 3,25 percent down, reflecting another tough week for the markets.

Ethereum it was doing slightly better, now at the $ 1 mark, roughly the same as last week. This most likely reflects the mood around the upcoming The Merge on September 560th.

While the Fed's approach undoubtedly influences sentiment, it is also worth considering that September has just started, which is statistically one of the toughest months for investors. Add to this the news that the EU's Cryptocurrency Asset Markets Regulation (MiCA) could be ready sooner than expected, potentially in just six weeks. So it's not hard to guess where the uncertainty comes from.

Could The Merge Make Ethereum More Environmentally Friendly?

With The Merge just over a week after finalization and the Beacon update due today, many are starting to speculate how and how effectively blockchain will work in the future. However, some analysts expect a proof-of-stake move to cut energy consumption, potentially by 99%. For the context, this would be tantamount to Portugal's electricity consumption.

For now, however, there is only a hypothesis because no networks proof-of-stake (Cardano, Solana) do not exist as large as Ethereum will operate. This change will make Bitcoin the largest existing network "Proof of work".

No more plastic California

According to CoinGecko, California is officially the most cryptocurrency in the US. Looking at research related to Bitcoin and Ethereum, California accounted for 43 percent. US traffic on the site, although this state represents only 12 percent. US population.

Illinois and New York came in second and third, lagging behind their home state of Silicon Valley by a margin. Bitcoin's performance far outperformed Ethereum nationwide, with the exception of four states (Colorado, Wisconsin, New Jersey, and Florida) where the second-largest cryptocurrency attracted more attention.

While California's dominance may not be surprising as a hub for blockchain technology and the seat of research institutions, it is clear from research that interest in cryptocurrencies is still highly concentrated. It will be interesting to see the spread of this phenomenon and if more assets are captured then perhaps we will be able to see a more realistic picture of interest and activity.

LG delivers NFT to your showroom

LG is following Samsung into the arena NFTby entering LG Art Lab, allowing you to buy, sell and enjoy high-quality digital art from your TV.

While it is only available to US users for now, it will allow TV owners to log in through the portal and view digital art. They will be available through LG's "NFT drops", the first of which is scheduled for September 22nd.

Increased accessibility shows how long NFT TVs have come in such a short space of time - breaking through to audience awareness and becoming as normal as watching TV. With Samsung, and now LG in the lead, it will be interesting to see how this trend unfolds and how users respond to this new feature.

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About the Author
Simon peters
eToro analyst. A graduate of the Faculty of Mechanical Engineering at Brunel University in London. He is CFA UK Level 4 certified in Investment Management.