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Snoop and Eminem rock VMAs

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Mon, Aug 29, 2022 04:08 PM

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Markets spooked by Jerome Powell's speech. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ?

Markets spooked by Jerome Powell's speech. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ Market Activity Total Market Cap 975.59B (+1.17%) 24 Hour Volume 74.62B (+41.06%) Notable Movers[(UNI) $6.18]( (+4.20%) Notable Movers (DeFi)[(LDO) $1.80]( (+9.60%) Bitcoin Dominance 39,64%[(+0.06%)]( Bitcoin Price[(BTC) $20,191.27 (+1.28%)]( Ethereum Price[(ETH) $1,514.29 (+2.55%)]( Cardano Price[(ADA) $0,4457 (+0.82%)]( Editor's Note Will We Ever Get a Bitcoin ETF? The Bitcoin ETF is an almost mythical creature in the crypto space. Many companies have applied to bring it into existence, but all have failed. And again, last week, the SEC pushed back making a decision on the global investment firm VanEck’s application for a Bitcoin spot ETF for another 45 days. While this wasn’t a hard no, it is worth noting that VanEck has been applying for a BTC ETF with the SEC since 2017, a series of applications that have had their answers delayed until a final no was received. This recent 45-day delay does seem just like a putting off of the inevitable. Back in 2017, these appeals to the SEC for a Bitcoin ETF (not just from VanEck, there were/are many other companies also angling for this particular prize) were seen as a pretty important adoption milestone — traders waited with baited breath for the outcome, convinced that this would be the reason to send Bitcoin to new price heights. The discourse around Bitcoin ETFs as the be all, end all of Bitcoin going to the moon has since changed. As we all know, it wasn’t acceptance of Bitcoin as a safe asset by the SEC that brought Bitcoin close to $70,000 — what it actually took was Elon Musk tweeting (and Tesla briefly accepting BTC for its cars). With all of the above in mind, I would tell those traders to let out their breath if they had planned on holding it for the next 45 days. CMC-Community Spotlight of the Day You Should Watch the Ethereum Merge Closely]( In today’s CMC Community spotlight, WOO Network walks us through what traders should expect in the run up to the Ethereum Merge. Today’s Top Stories Check out [CoinMarketCap Alexandria]( for tech deep dives, analysis, daily news and easy-to-understand guides on how crypto works! [Today’s Top Stories ] plunges below $20,000]( 📉 It's been a weekend to forget for Bitcoin. The world's biggest cryptocurrency slid below $20,000 after Federal Reserve Chairman Jerome Powell warned further interest rates may be required to bring red-hot inflation under control. Speaking in Jackson Hole, Wyoming, he vowed that the U.S. central bank will "use our tools forcefully" to address the cost-of-living crisis. He also warned that the rate rises could cause "some pain" to the U.S. economy. There are fears hiking interest rates so aggressively could tip the U.S. into a recession. The stock markets reacted negatively to the speech — and $1.25 trillion was wiped off Wall Street in a single day on Friday… more than the total market cap of all cryptocurrencies. Mt. Gox isn't paying out Bitcoin yet]( 😑 Further misery was piled on the crypto markets when rumors started circulating on Twitter that Mt. Gox was about to dump 140,000 BTC. Thousands of victims are due to receive payouts — eight years after the platform collapsed in an audacious hack. But one man who's owed BTC has slammed high-profile accounts for spreading "misinformation" — and says the repayment system hasn't even been built yet. Eric Wall wrote: "Mt. Gox is NOT distributing any coins this week, or the next week, or the week after that." A number of high-profile Twitter accounts have now hurriedly deleted their panicked posts. It's the latest painful reminder to take everything you read on Crypto Twitter with a very liberal pinch of salt. [Damning allegations rock Ava Labs]( 👀 The company that develops the Avalanche blockchain has been accused of "attacking" rivals and "conning" the SEC with the help of a law firm. Ava Labs and Roche Freedman have entered into "an extraordinary secret pact that harms the crypto industry," according to Crypto Leaks. Covert recordings show Roche Freedman's founding partner, Kyle Roche, saying that he "sues half the companies in the industry" — and declaring he's one of the "top 10" crypto experts worldwide. It's claimed the firm engages in class action lawsuits that weaken projects and lure regulators away from looking into Avalanche. Ava Labs founder Emin Gün Sirer has dismissed the article as "conspiracy theory nonsense." and Snoop Dogg make history…]( 🔥 The MTV Video Music Awards went metaverse mad on Sunday. Eminem and Snoop Dogg teamed up for their first performances in decades — with part of it based in a virtual world. Their Bored Apes were on full display as they gave a live rendition of their hit song From The D 2 The LBC. Both rappers also wowed the crowd in real life — and above the stage, giant versions of their NFTs nodded along to the beat. The crowd in New Jersey went wild, but not everyone at home liked it. One fan on Reddit said they want Eminem to retire, writing: "This VMA performance has honestly made me laugh at how pathetic it was. The NFT ape performance was not only cringe as f*** but the animation was also f****** dogs*** lmao." first metaverse award winner named]( 🤩 In another bullish development, the VMAs had a Best Metaverse Performance award for the very first time. It was a star-studded list of nominations to say the least — with Ariana Grande, BTS, Charli XCX and Justin Bieber among those in the running for a gong. But they were all beaten by the South Korean girl band BLACKPINK, who said: "We had so much fun on this project so we're very glad that everybody enjoyed it and we're very grateful for our fans." Their concert was held with the help of PUBG Mobile — seeing off competition from other big metaverse brands including Fortnite, Minecraft and Roblox. Players who watched their performance were able to dance and cheer to the music, and were even treated to a brand-new song. Thanks for reading! Have a great day — more news tomorrow! [Facebook]( [Twitter]( [Instagram]( [Telegram]( Written by Molly Zuckerman and Connor Sephton Was this email forwarded to you? [Sign up here](. WANT MORE CRYPTO BITES? [Sign up here]( for Daily Newsletters, Promotions and Events and Prices [ADVERTISE]( | [CAREERS]( | [FAQ]( © 2022 CoinMarketCap [Unsubscribe]( [coinmarketcap.com]( CoinMarketCap OpCo LLC, 8 The Green, STE 6703, Dover, Delaware 19901, United States

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