Why Bitcoin, Ethereum Are Getting Hammered Friday

Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are trading lower by 3.96% to $18,630 and 3.29% to $1,283 Friday afternoon. Cryptocurrencies at large are falling in sympathy with U.S. markets as investors react to the Fed's Wednesday decision to hike rates by 75 bps.

Timeline of Bitcoin, Ethereum

On-chain data shows the Bitcoin aSOPR profit-loss junction has continued to act as resistance to the price of the crypto. Bitcoin aSOPR Bounces Back Down From The Breakeven Line As pointed out by an analyst in a CryptoQuant post, the aSOPR value equal to ‘1' line has been acting as resistance for around 185 days now.

A widely followed crypto analyst is predicting a massive surge for Ethereum (ETH) competitor XRP while updating his outlook on Bitcoin (BTC) and two other altcoins. Pseudonymous trader Altcoin Sherpa tells his 183,000 Twitter followers that XRP should rise to $0.60 before ultimately shooting up to $0.87. “XRP: Go to $0.60 and then $0.

Earlier this week, the Securities and Exchange Commission (SEC) buried a very broad and very big jurisdiction claim 69 paragraphs down in a lawsuit about a 2018 initial coin offering (ICO) it claimed was an unregistered securities offering. The case involves an ICO for SPRK tokens issued by the Sparkster blockchain project.

Toronto-based Valour Inc. (formerly known as DeFi Technologies Inc.) is set to debut its Bitcoin Carbon Neutral Bitcoin Exchange Traded Product (ETP) on Börse Frankfurt, Germany's largest stock exchange. About the company According to the press release, Valour Inc.

Bitcoin mining firm Compute North filed for Chapter 11 bankruptcy protection in Texas on Thursday as the crypto winter continues to put pressure on crypto mining operations. The bankruptcy petition filed on September 22, indicates the company looks to stabilize operations in order to repay creditors.

Two altcoins are up by at least 40% this week while the two leading cryptos by market cap, Bitcoin (BTC) and Ethereum (ETH), stall. XRP and fan-engagement token Chiliz (CHZ) are up by 14% and 9%, respectively, in the last 24 hours alone.

Ethereum and the larger market continued to see red signals in terms of price after witnessing short-term gains. However, despite the cautionary tales and price headwinds, stakers and holders continued to build the post-Merge Ethereum castle.

Nounlets are a new collection out of the CC0 NFT project Nouns. There are only 100 Nounlets, each representing 1% ownership of one Nouns NFT.  The post The first Nounlet, a new collection out of NounsDAO, sold for 4.2 ETH appeared first on The Block.

Nounlets are a new collection from the Tessera. There are only 100 Nounlets, each representing 1% ownership of one Nouns NFT.  The post The first Nounlet just sold for 4.2 ETH appeared first on The Block.

Russia has been leaning towards cryptocurrencies such as Bitcoin and Ethereum in recent times. Sanctions against the country since it began its evasion of Ukraine had piled up, and the government had begun to turn to crypto to circumvent these sanctions.