• Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA
Thursday, June 8, 2023
WongaNews.com
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading
No Result
View All Result
WongaNews.com
No Result
View All Result

Could Today’s CPI Data be Bullish? – Blockchain News, Opinion, TV and Jobs

August 10, 2022
in Blockchain
Reading Time: 2 mins read
A A
Could Today’s CPI Data be Bullish? – Blockchain News, Opinion, TV and Jobs
ShareShareShareShareShare

By Marcus Sotiriou, Analyst at the publicly listed digital asset broker GlobalBlock 

Related articles

U.S. Firms Looking for Greener Pastures Abroad as Regulatory Action Strikes Home

U.S. Firms Looking for Greener Pastures Abroad as Regulatory Action Strikes Home

June 8, 2023
SEC’s Move To Sue Top Exchanges Decreases Trading Volumes – Blockchain News, Opinion, TV and Jobs

SEC’s Move To Sue Top Exchanges Decreases Trading Volumes – Blockchain News, Opinion, TV and Jobs

June 8, 2023

After Bitcoin slumped just under 5% on Tuesday, it hovers above $23,000 at time of writing, after Coinbase’s Q2 earnings were released. They reported a 63% decline in revenue in the second quarter, hence leading to a $1.1 billion loss from a year ago, despite its monthly customer rising from 8.8 million to 9 million. This demonstrates further how impactful the macroeconomy has been have been for many crypto exchanges during the past few months.

Coinbase also predicted that over the next 3 months its userbase will continue to fall. U.S. CPI data (which were released Wednesday at 1.30pm UK time) will be playing a huge part in determining whether we will continue to see crypto users indeed decline or not over the coming months.

CPI is expected to be 8.7% – if the released number is lower than this figure, I expect a rally for crypto and equities to ensue. I think any figure below 9.1% is promising though, as this was las month’s CPI figure, and it would signal the start of a plateau with inflation. In this case, the Federal Reserve would be inclined to become less aggressive in its next FOMC meeting in September, which the market would be excited about.

Hacks have become more prevalent in the crypto space over the past 2 years, as the industry has grown tremendously. Yesterday, Curve Finance, an established DeFi protocol, was hacked with $570,000 stolen.

In this instance, Curve Finance’s domain name system, DNS, was hijacked (DNS maps readable website names to IP addresses). The hackers modified the IP address translated by the DNS for http://curve.fi. They provided the IP address of their own server, and they created an identical web application. They then created new smart contracts to steal money, so users were then approving transactions that were stealing their funds.

This is an example of how important it is for users within DeFi to be fully educated on the protocols they use. People could have protected themselves if they checked all the smart contracts they interact with.

Credit: Source link

ShareTweetSendPinShare
Previous Post

New EU Law Will Regulate NFT Collections Like Cryptocurrencies

Next Post

MakerDAO plans against sanctions from USDC exposure

Related Posts

U.S. Firms Looking for Greener Pastures Abroad as Regulatory Action Strikes Home

U.S. Firms Looking for Greener Pastures Abroad as Regulatory Action Strikes Home

June 8, 2023

Join Our Telegram channel to stay up to date on breaking news coverage As the U.S. ramps up its regulatory...

SEC’s Move To Sue Top Exchanges Decreases Trading Volumes – Blockchain News, Opinion, TV and Jobs

SEC’s Move To Sue Top Exchanges Decreases Trading Volumes – Blockchain News, Opinion, TV and Jobs

June 8, 2023

By Matteo Greco, Research Analyst at the publicly listed digital asset and fintech investment business Fineqia International  BTC closed last week at about $27,000,...

LPT/USD Spikes Above $5.50 Level

LPT/USD Spikes Above $5.50 Level

June 7, 2023

Join Our Telegram channel to stay up to date on breaking news coverage The Livepeer price prediction shows that LPT...

Best Crypto to Buy Now June 7 – Bitcoin, Ecoterra, Render Token

Best Crypto to Buy Now June 7 – Bitcoin, Ecoterra, Render Token

June 7, 2023

Join Our Telegram channel to stay up to date on breaking news coverage In our best crypto to buy now...

North Korean Hackers Allegedly Behind $35 Million Cryptocurrency Heist

North Korean Hackers Allegedly Behind $35 Million Cryptocurrency Heist

June 7, 2023

North Korean cybercriminals are the prime suspects in a recent cryptocurrency heist involving the theft of a substantial $35 million....

Load More
Next Post
MakerDAO plans against sanctions from USDC exposure

MakerDAO plans against sanctions from USDC exposure

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Bull Bitcoin Launches No-KYC Purchasing Through Canadian Post Office

Bull Bitcoin Launches No-KYC Purchasing Through Canadian Post Office

May 9, 2023
Stably Launches #USD as the First BRC20 Stablecoin on the Bitcoin Network

Stably Launches #USD as the First BRC20 Stablecoin on the Bitcoin Network

May 25, 2023
Ripple Looking To Deploy $1 Billion To Expand Offerings Beyond Liquidity, CEO Says

Ripple Looking To Deploy $1 Billion To Expand Offerings Beyond Liquidity, CEO Says

May 20, 2023

About Us

Wonga News is an online news portal that aims to provide the latest crypto news, blockchain, regulations, and much more stuff like that around the world. We promise to share only high quality content from the world's best crypto sources. Feel free to get in touch with us!

What’s New Here!

  • Pepecoin Briefly Hits $1 Billion Market Cap Again Before Backpedaling
  • UK's FCA Follows US SEC in Ramping Up Crypto Regulations – BanklessTimes
  • New Ethereum NFTs Triumph Over the Bear Market

Newsletter

Loading
  • Contact Us
  • Affiliate Disclosure
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 WongaNews.com - All Rights Reserved!

No Result
View All Result
  • Live Prices
  • Crypto News
  • Bitcoin
  • Altcoins
  • NFT News
  • Blockchain
  • Regulations
  • Trading

© 2022 - WongaNews.com - All Rights Reserved!

  • bitcoinBitcoin(BTC)$26,417.00-1.43%
  • ethereumEthereum(ETH)$1,840.81-1.79%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.00-0.01%
  • binancecoinBNB(BNB)$261.02-5.75%
  • usd-coinUSD Coin(USDC)$1.00-0.02%
  • rippleXRP(XRP)$0.52-1.04%
  • staked-etherLido Staked Ether(STETH)$1,839.66-1.82%
  • cardanoCardano(ADA)$0.327504-4.06%
  • dogecoinDogecoin(DOGE)$0.067840-2.29%
  • solanaSolana(SOL)$18.61-7.01%
  • matic-networkPolygon(MATIC)$0.77-3.93%
  • tronTRON(TRX)$0.076939-0.29%
  • litecoinLitecoin(LTC)$88.02-2.34%
  • polkadotPolkadot(DOT)$5.01-3.20%
  • binance-usdBinance USD(BUSD)$1.000.01%
  • avalanche-2Avalanche(AVAX)$13.90-4.59%
  • shiba-inuShiba Inu(SHIB)$0.000008-1.00%
  • daiDai(DAI)$1.000.05%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$26,463.00-1.40%
  • uniswapUniswap(UNI)$4.58-3.30%
  • leo-tokenLEO Token(LEO)$3.51-0.29%
  • chainlinkChainlink(LINK)$5.97-3.30%
  • cosmosCosmos Hub(ATOM)$9.48-5.51%
  • okbOKB(OKB)$44.38-1.51%
  • moneroMonero(XMR)$144.34-1.52%
  • Aerarium FiAerarium Fi(AERA)$7.12-13.06%
  • ToncoinToncoin(TON)$1.65-0.56%
  • ethereum-classicEthereum Classic(ETC)$16.94-2.12%
  • stellarStellar(XLM)$0.087136-2.06%
  • bitcoin-cashBitcoin Cash(BCH)$111.27-1.79%
  • true-usdTrueUSD(TUSD)$1.00-0.03%
  • lido-daoLido DAO(LDO)$2.20-7.75%
  • internet-computerInternet Computer(ICP)$4.20-3.41%
  • filecoinFilecoin(FIL)$4.13-4.06%
  • quant-networkQuant(QNT)$111.83-3.73%
  • AptosAptos(APT)$7.70-4.85%
  • crypto-com-chainCronos(CRO)$0.058928-1.15%
  • hedera-hashgraphHedera(HBAR)$0.048050-2.20%
  • GGTKNGGTKN(GGTKN)$0.1121310.76%
  • ArbitrumArbitrum(ARB)$1.13-3.62%
  • nearNEAR Protocol(NEAR)$1.40-5.88%
  • vechainVeChain(VET)$0.017674-4.11%
  • apecoinApeCoin(APE)$2.89-2.41%
  • the-graphThe Graph(GRT)$0.113338-3.02%
  • paxos-standardPax Dollar(USDP)$1.00-0.01%
  • fraxFrax(FRAX)$1.00-0.15%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%
  • eosEOS(EOS)$0.890.60%
  • rocket-poolRocket Pool(RPL)$47.87-1.99%