Bitcoin continues to rally but not for LONG
In today’s newsletter:
Today’s cryptocurrency prices : Bitcoin nearly unchanged while Ether declines
Payments firm Bolt backs out of a $1.5 billion deal to acquire Wyre.
Brazilian Securities Watchdog Demands Modifications to the Bill Regarding Cryptocurrencies
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Today’s cryptocurrency prices : Bitcoin nearly unchanged while Ether declines
Bitcoin is currently trading at $21,570.70, up 0.7% in thelast 24 hours. Compared to the prior week, it is up 8.9%. BTC tries to move up from the resistance area but gets rejected, bearish Divergence in 1h time frame is also observed.
Ethereum, the second-most popular coin, is now trading at $1,762.37, up 1.9% from yesterday. Compared to the last week, it has climbed by 13.3%.
Major cryptocurrencies were trading in the green early on September 11 as the global crypto market cap rose 0.78 percent to $1.06 trillion over the last day. The total crypto market volume dropped 29.07 percent to $71.76 billion over the last 24 hours.
Solana, Polka Dot, Shiba Inu, and Polygon are currently trading at $34.73 (up 0.1%), $7.74 (up 0.1%), $0.000011 (down 1%), and $0.88 (up 1.2%), respectively. Looking at the weekly chart, Solana has gained 11.8%, while Polka Dot has gained 6.4%.In the past week, Shiba Inu's value has increased by 5.7%, whereas Polygon is 0.9% up.
Payments firm Bolt backs out of a $1.5 billion deal to acquire Wyre.
In response to falling valuations in the cryptocurrency and fintech industries, US online payment firm Bolt Financial Inc. announced on Friday that it has cancelled its $1.5 billion plan to acquire cryptocurrency infrastructure provider Wyre Payments Inc.
Bolt said it will continue its partnership with Wyre, and added that remaining independent would allow it to focus on its core areas.
Brazilian Securities Watchdog Demands Modifications to the Bill Regarding Cryptocurrencies
The CVM, a Brazilian securities watchdog, is pushing for amendments to the cryptocurrency bill that will make it clear how virtual assets will be handled in the nation.
he new directive of the organization has taken an active stance, different from the previous administration, which had not made any proposals regarding this bill.
The CVM is requesting a change in the text that would specifically permit some digital assets, such as carbon credits, court orders, and receivables, to be built in a blockchain but not to qualify as virtual assets according to the definition of the current cryptocurrency bill.
The final debate on the cryptocurrency law was supposed to take place in August, but Congress is now preoccupied with the upcoming midterm elections in October. This project's final window for discussion before the election ends in September.