The Litecoin (LTC) price records gain of almost 0.88%, as the coin is seen approaching the $90 level. After cryptocurrency exchanges and wallets, it is DeFi’s turn to experience its wave of hacking and hijacking. Last project to date having experienced this mishap, SushiSwap stood out from the crowd by successfully thwarting a hacker attack. This feat is to be credited in particular to its anonymous developer 0xMaki supported by a few contract … Gamer E News During a recent G-7 meeting held on 7 December, US Treasury Secretary Steven T. Mnuchin hosted a discussion that included ongoing responses to “evolving landscape” of crypto assets and other digital assets. In addition to this, officials and G-7 members discussed national authorities’ work to prevent the use of cryptocurrencies for “malign purposes and illicit With cryptocurrencies, you can avail services and products. Aside from that, you can also profit from it through trading. In this post, we are going to explain to you the different things that you will encounter in your journey to the world of cryptocurrencies. Just like the fiat currency most of us are using […]
LTC Price Prediction – December 7
The Litecoin (LTC) price records gain of almost 0.88%, as the coin is seen approaching the $90 level.
Resistance levels: $100, $105, $110
Support levels: $70, $65, $60
LTC/USD is trading in the green in today’s session, trading above the 21-day moving average with a gain of 0.88%. According to the daily chart, the candles formations are respecting the diagonal trend line (the lower boundary of the channel). Crossing down the channel might position price in a decline. Meanwhile, the closest support level is $72 and a north wave might see a high of $90 and beyond.
What to Except from Litecoin
As we can see, LTC/USD is recovering back above the 9-day moving average and towards the previous resistance of $86. An increase above this initial resistance could trigger intense buying to $100, $105, and $110 resistance levels. In other words, looking at the downside, the Litecoin price may likely hold support level at $82.24 which is the current daily low. Therefore, if the Litecoin price drops below this support level, it may likely hit the closest support at $80.
Meanwhile, the next support after this is located at $70 where it may even dip to $65 and $60 supports if the selling volume keeps increasing. Nevertheless, the technical indicator RSI (14) reveals that the market may likely follow the sideways movement if the signal line keeps moving in the same direction below the 60-level.
Comparing with Bitcoin, the buyers are making an attempt to step back into the market as the coin is trying to move above the 9-day and 21-day moving averages. Meanwhile, from the upside, the nearest level of resistance lies at 4600 SAT and above this, higher resistance lies at 4800 SAT and 5000 SAT.
Looking at the downside; the nearest level of support is 4200 SAT and beneath this, further support lies at 4000 SAT. If the price drops further to create a new low, lower support is therefore located at 3800 SAT and 3600 SAT respectively. The RSI (14) is moving around the 50-level which shows that the bulls may come into focus.
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Sushiswap faces a loophole – Cryptocurrencies
After cryptocurrency exchanges and wallets, it is DeFi’s turn to experience its wave of hacking and hijacking. Last project to date having experienced this mishap, SushiSwap stood out from the crowd by successfully thwarting a hacker attack. This feat is to be credited in particular to its anonymous developer 0xMaki supported by a few contract engineers. The story of the events below.
To definitively thwart the attack and minimize its effects, 0xMaki had to enlist the help of DeFi developers degen and Andy. The latter also traces to Cointelegraph the circumstances of his intervention by these words: ” He (0xMaki) said something weird was going on, but he wasn’t sure what it was. We spent about an hour in a call on Discord going through the transactions until we found out what the hijacking was. “. Engineers have indeed realized that hackers hijacked liquidity pool tokens and put them in a new one for better removal.
Once the deception was noticed, the affected contracts were identified and corrected before being later reviewed by the audit firm Peckshield. In its report, Sushiswap reassures that lost funds worth nearly $ 15,000 will be covered by his treasury. Similar attacks have already taken place in the DeFi space and are becoming more frequent. However, the developer Andy believes that there is little chance that this trend will mainstream into space. “ I don’t think it turns into anything, because it’s expensive and inefficient He asserted confidently.
For those who doubted it, Sushiswap’s response to this hijacking was nothing other than the illustration of the competence of the technical team at its head. ” They worked very hard upside down. You just have to look at all the cool stuff that they’ve released and are working on. It didn’t hurt to see them, but it didn’t really change much for me personally, because I already had a good opinion of the team »Declared Andy. In addition, the fact that Sushiswap is the subject of such a hijacking is proof of the scale it is taking in the industry, with hackers often taking only the most bankable projects.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.
There is no doubt that the happy ending of this story will serve to improve the image of Sushiswap, which had drawn the wrath of the sector. due to the recent actions of its founder. However, it will take a lot more to convince the community once again to provide it with the necessary strength to compete effectively with Uniswap as initially planned.
Cryptocurrencies Price Prediction: Bitcoin, Chainlink & Litecoin – American Wrap 07 Dec
Bitcoin has been trading inside a tight range between $18,500 and $20,000 for the past week, trying to create a clear breakout or breakdown. It seems that many on-chain metrics are in favor of Bitcoin price, while patient investors still wait for a potential 30% correction.
Chainlink (LINK) is hovering at $13. It is the seventh-largest digital asset with a current market capitalization of $5.1 billion. The coin has gained 1.5% in the recent 24 hours and lost nearly 5% on a week-to-week basis. LINK hit bottom at $11.28 on November 26 and attempted recovery. However, the upside momentum stopped short of $15, while the price entered another consolidation phase.
Litecoin is currently trading at $83.71 inside an ascending triangle pattern on the 4-hour chart. Several on-chain metrics show that large LTC investors are selling, which adds selling pressure to the market and shifts the odds in favor of the bears.
‘Strong support across G7 on the need to regulate cryptocurrencies’
During a recent G-7 meeting held on 7 December, US Treasury Secretary Steven T. Mnuchin hosted a discussion that included ongoing responses to “evolving landscape” of crypto assets and other digital assets. In addition to this, officials and G-7 members discussed national authorities’ work to prevent the use of cryptocurrencies for “malign purposes and illicit activities.”
Participants in the meeting included Finance Ministers and Central Bank Governors from Canada, France, Germany, Italy, Japan, the UK, the European Commission, and the Eurogroup. The heads of the IMF, World Bank, and Financial Stability Board also joined the discussion. According to a readout of the discussion:
There is strong support across the G7 on the need to regulate digital currencies. Ministers and Governors reiterated support for the G7 joint statement on digital payments issued in October.
This would be the 12th G7 meeting that the Secretary chaired this year related to the pandemic response. During the meeting, the Ministers and Governors discussed domestic and international economic responses and strategies to achieve “a robust recovery throughout the global economy.”
Shortly after the conference between G-7 officials, Germany’s Finance Minister, Olaf Scholz, criticized Facebook’s Diem stablecoin. The official called the project “a wolf in sheep’s clothing,” and pointed out that changing its name would not change its fundamentals. According to the Minister, Germany and Europe “cannot and will not accept” the project’s entry into the market while “regulatory risks are not adequately addressed.” He added that regulators “must do everything possible” to make sure the currency monopoly remains in the “hands of states.”
Meanwhile, OCC’s Acting Head, Brian Brooks, said that US regulators were “very focused” on “not killing” Bitcoin. The comment came in amid speculation about a possible blanket ban on cryptocurrencies in the US. Brooks went on to state that users could expect “good news” from regulators after the end of Trump’s administration.
Back in November, CEO of Coinbase, Brian Armstrong shared his “concerns” over US crypto regulations and claimed that the US Treasury, as well as Secretary Mnuchin, were “planning to rush out some new regulations” targeted at self-custody wallets.
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A Guide to cryptocurrencies
In this post, we are going to explain to you the different things that you will encounter in your journey to the world of cryptocurrencies.
Just like the fiat currency most of us are using in the real world, and digital money is intended to avail services and products. But even though these two currencies are the same in this aspect, they are still different from each other. Cryptocurrencies are purely digital, and it is using cryptography to make online transactions more secure.
Even though cryptocurrencies are designed to purchase things, the main benefit of this digital currency is to help people make profits from trading them.
Here are the important things you will encounter in cryptocurrencies.
Cryptocurrencies can be used as payment for availing services and products online. Many companies across the globe have their currency, which is called a token. In connection to that, you can trade these tokens as an exchange for the products and services offered by the company. They work similarly as a casino chip or arcade token. In other words, you will need to use your real money to get a cryptocurrency to have access to the desired services and products.
There are a lot of reasons associated with the popularity of cryptocurrencies. Some of these are the following:
Cryptocurrency users think that digital money is the future currency. That’s why a lot of people are racing to purchase one.
Aside from that, currency supporters also love the idea that central banks don’t have the right to manage cryptocurrencies, considering that most banks these days are reducing the real money value through inflation.
Other users are amazed by the technology working behind every cryptocurrency, such as the blockchain for Bitcoins. Considering that blockchain is a decentralized recording and processing system, cryptocurrency users find it safer compared to the traditional payment processes.
Some investors, miners, and traders love the idea of cryptocurrencies considering their increasing value. Aside from that, it does not have an interest in the long-term acceptance of the currency in moving the money.
Cryptocurrencies have been adopted by most parts of the United States. But China does not allow cryptos to circulate in their system. In other words, the legality of cryptocurrencies will depend from country to country. Aside from that, ensure that you will consider the effective ways that will protect you and your cryptos against the fraudsters who consider cryptocurrencies as the best opportunities to get money from the investors. For more information you can visit here Immediate Edge
Most parts of the United States enable anyone to get a cryptocurrency, such as Bitcoin, as an exchange of real money. But do note this only applies in the USA. Some parts of the world that allow cryptocurrencies to circulate require its supporters to use bitcoin or other forms of cryptocurrencies to get one.
When buying a cryptocurrency, a wallet is needed. A digital wallet refers to online software where you can store all the cryptocurrencies you have. In general, through an exchange, you can make your account enabling you to transfer your fiat currency to purchase cryptos, including Ethereum, Bitcoin, and many more.
Many experts think that cryptocurrencies are future money. That’s why a lot of individuals start to join the crypto group. If this is your first time to be in the world of cryptocurrency, make sure that you will consider the things we mentioned above.