Bring back the Weiss Tones: Where will the Market go
"Bring back the Tones of Weiss" is a news podcast with the editors and friends of ForkLog about the main industry events of the week.
Topics of the issue: Ethereum infrastructure news, pressure on cryptomixers, migration of Russian users from Binance, analysis of the current rally in the market.
Participants: Vasily Smirnov, Alex K.
Special guest: Vlad Cohen, trader, specialist in macroeconomics of the crypto market
Smart accounts with ERC-4337 support faced a reduction in the number of users and low transactional activity. Stackup co-founder John Raising came to such conclusions;
According to a study by Salus Security co-founder Mirror Tang, ZKP technologies can be implemented in the Ethereum mainnet, which will reduce the need for second-level networks;
Ethereum co-founder Vitalik Buterin published an essay in which he offered a new look at the use of Plasma scaling technology. He believes that the use of zero-disclosure evidence will save the solution from a number of technological problems.
Pressure on cryptomixers
The California bitcoin platform Swan Bitcoin has warned users about indefinite blocking for using cryptomixers.
According to representatives of the platform, banks and depositories have changed their policies based on the new rules of the Financial Crimes Enforcement Network within the US Treasury Department (FinCEN). The agency calls cryptomixers "money laundering centers" and claims that they threaten the national security of the United States.
Migration of Russian users from Binance
According to Wu Blockchain, in October, users from Russia took the first place in the number of visits to the cryptocurrency exchanges Bybit, HTX and Deribit. On Bybit and HTX, the share of visitors from the Russian Federation was 17% of the total, on Deribit — 16%. Binance's Russian customers accounted for 5% of the traffic.
The rally in the cryptocurrency market looks excessive and may end abruptly after the expected approval of the bitcoin ETF. JPMorgan came to this conclusion.
"It is necessary to be careful because of the high chances of encountering the effect of "buy on rumors/sell on fact" after the news from the SEC," they wrote.
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