On Friday, Jerome Powell announced The Fed will continue to raise interest rates until they feel inflation is back under control


After his speech, equity prices dropped. Crypto followed.

Over the weekend, fake news broke that the Mt. Gox creditor returned all 140,000 Bitcoin to the victims. Worried traders continued selling Bitcoin over the weekend.

By Monday morning, Bitcoin price had fallen 10% from before The Fed announcement.

Next up: The FOMC meeting happens on September 20th and 21st when they will announce the next interest rate hike.

BTC -8.98%

Bitcoin maximalist Saylor getting sued for tax fraud in Washington DC. Bitcoin mining difficulty rises 9% – highest since January.

According to market players, the recent spike in Bitcoin hash rate and mining difficulty is likely due to more miners powering up their machines as the heatwave, which has plagued North America and Europe, declines.

This week, 5,000 BTC moved from a dormant wallet. The BTC have yet to move onto an exchange, so it’s unclear if they will be sold. The past four times a large amount of BTC transferred from a dormant wallet this year it signaled a local top in price.

ETH -9.06%

After the weekend crypto selloff, ETH price pumped after this pic of Vitalik Buterin hit the internet.

MATIC +0.34%

Big news for Polygon this week – OpenSea users are now able to use MATIC to pay for their NFT purchases. This addition should decrease gas fees on NFT purchases and remove the need for users to pay a account setup fee. This addition could result in a US$120 million for OpenSea users on transaction and setup fees.

SOL – 14.74%

Helium (HNT) is considering migrating to the Solana (SOL) blockchain. The move would help improve operational efficiency like helping with data flow and accounting.

If you aren’t familiar with Helium, it is a blockchain for IoT devices. Created to allow low-powered wireless devices to communicate with each other where users get HNT rewards for being Helium Nodes – Think “New Internet” from Silicon Valley.

submitted by /u/Doshizle
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