TL;DR Breakdown ICP price analysis is bearish today. The strongest resistance is present at $5.340. The trading price of ICP is $3.891. ICP price analysis on June 13, 2023, an analysis of the price of Internet Computer (ICP) indicated a noticeable bullish trend, implying an upward trajectory for the cryptocurrency as a result of favorable momentum in the market. Over the span of several hours, the price of ICP demonstrated consistently high levels and experienced a sudden surge from $3.663 to $3.762. Moreover, there were indications of further growth in the market, as ICP managed to increase its value, reaching $3.891 and coming close to the $4 mark. This development signifies a positive outlook for ICP’s market capitalization. As of today, June 13, 2023, the price of Internet Computer (ICP) stands at $3.89, with a 24-hour trading volume of $66.93M. The market capitalization of ICP is estimated at $1.70B, contributing to a market dominance of 0.16%. Over the past 24 hours, the price of ICP has experienced a positive increase of 5.78%. Currently, the sentiment for Internet Computer’s price prediction…

TL;DR Breakdown Hong Kong and the U.S. are preparing to implement regulatory frameworks for stablecoins. The Hong Kong Monetary Authority (HKMA) plans to provide clear stablecoin guidelines by end of 2024. The U.S. House Financial Services Committee proposes to empower the Federal Reserve to regulate stablecoins. Contrasting strategies: Hong Kong aims to become a crypto hub, while U.S. regulations could lead some businesses to relocate. As the world of finance increasingly migrates towards digital currencies, two major jurisdictions, Hong Kong and the U.S., are poised to implement regulatory frameworks for stablecoins within their respective economies. Navigating the complexities of digital currencies, these financial behemoths aim to balance innovation with risk mitigation, showcasing contrasting strategies for fostering growth and ensuring protection within their borders. Hong Kong: Fostering growth and regulation The Hong Kong Monetary Authority (HKMA) has successfully concluded its public consultation concerning the regulation of stablecoins, promising clear guidelines for this burgeoning market by the close of 2024. This dynamic Asian financial hub, according to Joseph Chan Ho-Lim, Under Secretary for Financial Services and the Treasury, has grown into an…

TL;DR Breakdown The Consumer Price Index (CPI) for June 2023 rose by 0.5 percent. Major contributors to this increase were the shelter index and the index for used cars and trucks. The food index also went up by 0.3 percent, marking its third consecutive month of rise. The energy index decreased by 2.0 percent, with a notable drop in the gasoline index. The U.S. Bureau of Labor Statistics recently released data for the Consumer Price Index (CPI) for all Urban Consumers (CPI-U) in June 2023. The data revealed a rise of 0.5 percent, on a seasonally adjusted basis. This follows a smaller increase of 0.1 percent in May. Over a 12-month period, the all items index has risen by 4.5 percent before seasonal adjustment. A closer look at the U.S. CPI components The rise in the all items index was spread across a variety of CPI components. The shelter index, which has been a consistent contributor to overall inflation, increased again in June. The index for used cars and trucks, which has been highly volatile in recent months, also showed…

TL;DR Breakdown Market analysts anticipate that the Fed announcement will positively impact the price of ETH to above $2,000. Staking activity in the Ethereum ecosystem rose in June 2023 after reaching an all-time high in May. The ongoing SEC crypto crackdown has negatively affected the entire market, and there remain no guidelines. Ethereum has shown resiliency in the face of market volatility, stabilizing at a price of roughly $1,750 due to increasing staking activity. The Federal Reserve (Fed) Rate announcement that will be made soon will impact the price movement of ETH. Additionally, the legal environment and market trends are impacting how well specific cryptocurrencies are performing. How will the Fed Rate announcement affect the price movement of ETH?  According to market reports, Ethereum price has stabilized at roughly $1,750, down 3% from last week’s peak, amid heightened market instability. An in-depth examination of the on-chain data reveals that ETH has been spared a significant retracement due to increasing staking activity.  In contrast to the 13% fall in the market capitalization of all altcoins, ETH’s price has exhibited remarkable resiliency…

TL;DR Breakdown Chinese cyberattacks pose a significant threat to U.S. security. A U.S. cybersecurity official warns of the potential for disruptive cyber operations targeting critical infrastructure. The Chinese government’s cyber-offensive capacities are linked to hacking groups targeting pipelines and railways. American companies face ongoing cyber espionage and intellectual property theft from China. As the global digital landscape becomes increasingly complex, one nation’s digital capabilities have emerged as a potent force that could profoundly shape the future of international relations. This nation is China. Their advanced cyber capabilities, particularly in espionage and sabotage, now constitute an era-defining threat, according to leading American cybersecurity experts. The crux of this growing concern is the profound risk of cyber attacks on critical U.S. infrastructure, potentially instigating widespread societal unrest in a time of open conflict. Disruptive threats amplifying the cybersecurity challenge Cybersecurity and Infrastructure Security Agency (CISA) Director Jen Easterly candidly articulated these fears at a recent appearance at the Aspen Institute in Washington, D.C. The conversation focused on the reported infiltration of U.S. military and private sector networks by Chinese hackers, a group…

TL;DR Breakdown Crypto exchange Bitstamp and brokerage firm Interactive Brokers are the first companies added to the U.K. crypto register in six months, indicating progress in regulatory compliance. The Financial Conduct Authority’s register ensures that crypto firms meet anti-money laundering and terror financing regulations, with a total of 42 approved companies so far. Bitstamp emphasizes the importance of increased regulation for mainstream adoption, while Interactive Brokers expands its crypto offerings in line with regulatory standards. Bitstamp and Interactive Brokers have become the first companies in six months to be added to the U.K. crypto register, signaling a significant milestone in the country’s efforts to regulate the cryptocurrency industry. The register, maintained by the Financial Conduct Authority (FCA), serves as a list of crypto firms that have met stringent anti-money laundering and terror financing regulations. This development comes as part of a broader push by regulators to enhance oversight and protect consumers in the rapidly evolving crypto space. Bitstamp, the world’s oldest crypto exchange, announced its addition to the U.K. crypto register on Tuesday. Previously registered in France, Spain, and Italy,…

TL;DR Breakdown Altcoins face significant losses, triggered by legal actions against crypto exchanges. Over 50 cryptocurrencies worth $100 billion are now scrutinized as securities by the SEC. Major altcoins Solana, Polygon, and Cardano saw values drop between 23% and 32%. The SEC’s classification could hinder altcoin’s abilities to gain US funding, impacting development. Turmoil is swirling through the altcoin world as the value of this sector of cryptocurrency faces substantial losses. Amid growing uncertainties and legal hurdles, altcoins, an umbrella term for all cryptocurrencies excluding Bitcoin and Ether, are encountering a rough patch with the prices of numerous tokens taking a significant hit. Mounting altcoin crisis Legal proceedings instituted by US regulators against prominent exchanges such as Coinbase and Binance have put the altcoin market under significant pressure. Consequently, more than 50 cryptocurrencies, collectively valued over $100 billion and representing approximately ten percent of the market, are now under scrutiny by the SEC. Prominent players like Solana, Polygon, and Cardano have witnessed a decline in their value ranging between 23% and 32%, according to CCData. The potential implications of these…

TL;DR Breakdown Honduras has formally applied for membership in the New Development Bank (BRICS bank). Honduran President Xiomara Castro delivered the request during a state visit to China. Honduras’ move represents a shift from traditional financial models, which have often exacerbated poverty. The BRICS bank has been gaining relevance, proposing a decentralization of global finance. The New Development Bank (NDB), better known as the BRICS bank, recently welcomed a new prospective member, Honduras. The Central American nation formally expressed its interest in becoming part of this financial institution that is garnering global attention due to its inclusive and unconventional approach to international finance. Honduras’ audacious bid for development The Honduran President, Xiomara Castro, personally delivered the request during her state visit to China, fulfilling the invitation extended by the Chinese President, Xi Jinping. This diplomatic visit sought to strengthen economic, cultural, and political ties, and Honduras’s application to the BRICS bank became the cornerstone of this mission. In a meeting with the BRICS bank president, Dilma Rousseff, in Shanghai, Castro underscored Honduras’ commitment to promoting sustainable development and global cooperation….

TL;DR Breakdown The creators of the decentralized social media app Damus revealed that they had received a warning letter from Apple, stating that their app could be removed from the Apple app store. The integration of the Lightning Network widget enabled Damus to facilitate Bitcoin payments and tips directly on their platform which Apple claimed violates their policy. Many other cryptocurrency proponents questioned why tipping features on Twitter are permissible while Damus’s implementation of the same feature violates Apple’s policies. On June 13, the creators of the decentralized social media app Damus revealed that they had received a warning letter from Apple, stating that their app could be removed from the Apple app store. The reason behind this potential removal is the app’s “Zaps” feature, which allows users to tip each other and content creators in Bitcoin. The integration of the Lightning Network widget enabled Damus to facilitate Bitcoin payments and tips directly on their platform. However, Apple claimed that this feature violates their policy, which strictly prohibits any form of tipping other than through in-app purchases. According to Apple’s…

TL;DR Breakdown Uniswap Labs recently announced the release of a draft code for Uniswap V4, the latest version of the popular decentralized cryptocurrency exchange. The introduction of “hooks” in Uniswap V4 allows developers to introduce innovative features such as on-chain limit orders, automatic deposits to lending protocols, and auto-compounded liquidity provider (LP) fees. The main objective of the update is to provide a mechanism for pool deployers to incorporate custom code that performs specific actions at different stages of a liquidity pool’s lifecycle. Uniswap Labs recently announced the release of a draft code for Uniswap V4, the latest version of the popular decentralized cryptocurrency exchange. In a blog post by Uniswap’s Founder, Hayden Adams, it was revealed that the new code incorporates “hooks” or plugins that enable developers to create custom liquidity pools. Uniswap, known for its high trading volume, currently operates on its V3 version, which was deployed on May 4, 2021. The introduction of “hooks” in Uniswap V4 allows developers to introduce innovative features such as on-chain limit orders, automatic deposits to lending protocols, and auto-compounded liquidity provider…