After Fed Chairman Jerome Powell’s speech last Friday, the broader equity markets and cryptocurrencies have come under severe pressure. The world’s second-largest cryptocurrency Ethereum (ETH) has seen a 12% drop in its price over the last weekend. As of press time, ETH is trading 2.66% down at a price of $1453 with a market cap of $177 billion.
Nonfungible token (NFT) analyst and blockchain detective "OKHotshot" has highlighted his picks for 18 of the most “uncomfortable truths” about the NFT industry.
The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has warned that all markets are crashing, specifically naming real estate, stocks, gold, silver, and bitcoin. Referencing his earlier prediction of a bigger crash than during the 2008 financial crisis, Kiyosaki said: “That crash is here. Millions will be wiped out.”
Several key cryptocurrencies fell dramatically Sunday evening as traditional markets dropped heading into a new trading week.
With just over two weeks until The Merge, Ethereum network fees have reduced significantly as the average ethereum transfer fee has dropped to 0.00092 ether or $1.37 per transaction on August 28. Median-sized fees have slid to 0.00036 ether or $0.544 per transfer, and etherscan.io’s gas tracking tool notes a priority fee will cost 11 gwei or $0.34 to get a transaction confirmed in roughly 30 seconds.
Recently, Ripple CEO Brad Garlinghouse revealed that his company is willing to explore a different path if they lose the SEC lawsuit. In fact, he specifically claimed that the company is willing to explore moving to a different jurisdiction, IF Ripple loses the lawsuit against the SEC.