Cryptonews

Now, this initiative aims to bring some order to the wild west of stablecoins, layin’ down rules for creatin’ and managin’ ‘em like a schoolteacher with a ruler. From issuance to collateral, they’re coverin’ it all-though whether it’ll stick better than a band-aid on a hog remains to be seen. 🤔 Lawmakers are crowin’ about how this proposal’ll sit pretty alongside other drafts, givin’ the National Assembly a real buffet of options. 🍽️

According to Validator Queue (aka the saddest tracking site since your ex’s Instagram), withdrawals could take 15 days and 16 hours. That’s longer than most relationships in 2024. 💔 On August 14, the queue was already at 700k ETH-so, naturally, it got worse. Who saw that coming? (Everyone.)

Enter Egrag Crypto, a technical analyst whose name sounds like a minor villain from a science fiction novel, who’s generously warned us that things could get even more…affordable. He suggests we might see XRP sink all the way to a princely $2.65 before it remembers it’s supposed to ‘break out.’ 🤷‍♂️

Let’s talk about Circle and Bullish for a moment, shall we? Circle, the brains behind USDC (you know, the stablecoin that’s supposed to be as steady as your grandma’s knitting), and Bullish, Peter Thiel’s brainchild (because apparently, one empire isn’t enough), have both been making headlines. Their stock prices shot up faster than a cat video goes viral on TikTok. But here’s the twist-Circle’s stock has since plummeted like a soufflé in a hurricane, and Bullish is also having a bit of an identity crisis. Classic crypto drama, right? 🎭📉

It failed, of course, to recover. Ethereum, mirroring the lamentable Bitcoin, embarked on a fresh downfall beneath $4,650. Bearish momentum, they call it. I call it the natural order of things. It traded, rather sulkily, below $4,450.

According to a recent press release, 180 Life Sciences Corp., a firm backed by PayPal co-founder Thiel, is changing its name to ETHZilla, also unveiling that it is holding $419 million worth of Ethereum. 🦍💸

95.7% of voting Scheme Creditors supported the Amended Scheme of Arrangement … This outcome reaffirms the strong support shown in the first round of voting and reflects our community’s continued confidence in the restructuring plan.

Arbitrum, like a tightrope walker in a stiff breeze, is currently hovering near $0.51 to $0.54-critical territory for traders. Perched above the 20-day exponential moving average at $0.43 (the safety net that guards against humiliating falls), it puzzles over the 50-day exponential moving average near $0.53. This area also happens to be the lower boundary of the Ichimoku Cloud, akin to an invisible umbrella providing scant protection and a formidable barrier, which must be overcome for any further momentum.

According to CoinGlass, which is like the TMZ of crypto but with more numbers, over 115,000 traders got the boot as Bitcoin dipped to $115,000 and Ethereum flirted dangerously with the $4,200 mark. High leverage, you say? More like high drama! 🎭

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