Top storyline: Tether, the rise of stablecoins, mining, ethereum proof of stake
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- Price: $6382
- 1 finney: $0.64
- $1: 15,545 sats
- Daily 200 SMA: $7194 – really flat
- Mayer Multiple: 0.89
Tether was the overwhelming narrative this week. I remain staunchly in the solvent camp, and think tether is under a targeted attack from the banks that want to control this space.
The way that would work is the same argument people have been using against tether. If the stablecoin is fractionally reserved, they’d be able to pump liquidity in, and take it out at will. The KYC policies enable the banking interests to target individuals, and they can supply liquidity to the exchanges they want to manipulate. They can cause more market volatility and crashes.
- Okex Futures: (Dec) $6345 | spread -$35
- CME Futures: Oct $6380
- Bitmex Futures: Dec $6365
- Longs / Shorts: 20,000 / 34,000 (0.59) – Tied ATL
- Difficulty: -3.65% See report
- Mempool: 7d High: 18MB | Time: 12hrs to clear
- Halvening: 83,557 blocks | 542 days | Apr.14.2020
Margins are being squeezed.
Capacity: 111 btc
*default is for lightning nodes to be private
On google trends I did a little research and China is dominating searches for Lightning Network.
Ethereum PoS upgrade on testnet Foobar
Miners don’t like it. Paused at the upgrade block.
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Music by Tonezpro and KVN
**DISCLAIMER: This is not investment advice, do your own research.**