Bitcoin pumps to cross $21,000; Ethereum consolidation expected on September 14

Bitcoin pumps to cross ,000;  Ethereum consolidation expected on September 14


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The most important news in the crypto space on September 9 includes the recent rally of Bitcoin that took it above the $21,000 level; Block computation estimates that the Ethereum merger will occur on September 14th; And Binance’s decision not to implement the 1.2% LUNC token is burning in spot and margin trades.

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Bitcoin retests $21K as it regains strength from Ethereum ahead of The Merge

BTCUSD

Bitcoin is up 10.3% since 3 AM UTC on September 9. This increase has put Bitcoin back into the market leading role since Ethereum recently dropped by 0.8 BTC.

Ethereum Merge is 34,000 blocks away and is expected to happen on September 14

The Ultrasound Money Tracker estimates that the merger is about 34,000 blocks away, which means that the merger can be expected to occur on September 14 by 9 p.m. UTC.

Binance will not apply Terra Classic tax to trading on the exchange

The LUNC community has passed two governance proposals that include a 1.2% burnout on all on-chain transactions. With the settlement of transactions in the internal order book rather than on the chain, it remains a mystery how exchanges will implement the new burn policy.

Binance announced that it will not apply the Terra Luna Classic (LUNC) decision on internal order book settlements or spot and margin trades.

The ETHPoW team confirms that it will use ChainID 10001 to avoid reboot attacks on Mainnet

The Ethereum Proof of Work team announced that they will be using a different ChainID than the mainnet. The ETHPoW testnet is currently using ChainID 10002, and the team announced that they will use ChainID 10001 after the merger is complete.

The community has been asking the ETHPoW team to clarify their ChainID, but there has been no response. Finally, Coinbase made the same request, which was answered by the ETHPoW team.

Cryptoslite Talk to Temoc Webber and Igor Mandrigin, CEO and CTO at Gateway.fm about the potential for relay attacks through the ETHPoW chain. During the conversation, Mandrigin said there was “no reason” the ETHPoW team had not updated the code before The Merge.

Ethereum name service developer outlines challenges in Vitalik fee proposal

The head of the Ethereum Name Service (ENS), Nick Johnson, said that the protocol cannot support the fee structure proposed by Vitalik Buterin recently.

Johnson said the protocol needs to make some changes before the new fee structure, which will be higher than the old one, can be implemented.

Buterin argued that the old prices did not compensate for the ENS DAO.

US lawmakers warn that Facebook and Instagram have become a ‘breeding ground’ for cryptocurrency scams

A recent report from the Federal Trade Commission (FTC) stated that Meta Facebook, WhatsApp, and Instagram are hosting a lot of cryptocurrency scams.

According to the figures, Instagram facilitated about 32% of the frauds mentioned in the report, while Facebook hosted 26%, and WhatsApp hosted 9%. In response to the numbers, regulators have asked Meta CEO Mark Zuckerberg to release a report that reveals Meta’s methods of dealing with cryptocurrency scams.

Coinbase employee accused of publishing insider trading lawsuit over FTX

Coinbase employee Pete Kim has alleged that crypto influencer Kobe disclosed inside information against Coinbase. Kim argues that Cobi wanted to harm Coinbase because of the influencer’s partnership with FTX.

Kobe responded to the allegations by saying that he had no intention of publishing FUD or disclosing inside information.

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Research: Bitcoin risk signal points to further declines in the coming weeks

Although the rise of Bitcoin on the 9th of September instilled hope in the hearts of many, there are signs that a downward path is coming in the following weeks.

Bitcoin Risk Signal

Cryptoslite The analysis shows that the Bitcoin risk signal is still very high. The signal is rated between 0 and 100, with the risk-free environment reflected by a number between 0 and 25. Even after today’s rally, Bitcoin’s risk signal is still at 87.

This indicates a possible pullback for Bitcoin in the coming weeks.

News from around the Cryptoverse

Mark Cuban loses crypto fever

Cryptocurrency billionaire Mark Cuban once said that the crypto space has lost its luster, The Street Report it. Cuban admitted that he is no longer excited about the crypto space because it is “missing new applications”.

How to prepare the EU for the authentication of NFTs

The European Union has launched a new initiative to combat intellectual property infringement. The new method will aim to authenticate NFTs and prevent counterfeit products.

crypto market

Bitcoin registered a 10.26% increase in the past 24 hours, reaching $21,192. Ethereum accompanied it with a 4.49% increase to trade at $1,703.

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