What crypto market participants talked about
⚡️ It has become common to criticize Ethereum at the moment, but that’s about to change, according to Bitwise investment director Matt Hougan. The ETH exchange rate has been showing weakness for several months. In July, when the ether-based ETF was launched, the digital asset was trading at $3500. As of the morning of Sept. 20, Ethereum is worth about $2500, according to Coinmarketcap data. “When the next big traditional company wants to do a blockchain product, I’m sure they’ll choose Ethereum too. It’s like the Microsoft of blockchains,” Hougan noted.
⚡️ Media reports about the hack of the hot wallet crypto platform BingX on September 20. According to preliminary estimates, losses may exceed $43 million. Presumably, criminals managed to withdraw almost $18 million from ETH networks and about $9.3 million from BNB Chain. Users’ assets in other cryptocurrencies were also affected. Withdrawal of funds has been suspended, they promise to restore it within 24 hours.
⚡️ After the Fed lowered the key rate, the main cryptocurrency is expected to grow steadily. This will happen because of the macroeconomic background, which will smooth out the uncertainty of the results of the US presidential election. This is what analysts at Standard Chartered believe. Experts noted the improvement of the crypto market conditions on the background of growing chances of Kamala Harris to win. Analysts believe that bitcoin can reach $ 125,000 if Donald Trump becomes the American President. If Harris wins, BTC will be worth around $75,000.
⚡️ The court dismissed ConsenSys’ lawsuit against the SEC and its five representatives, including Gary Gensler. The company had previously sought to prove that the SEC had initiated a campaign to “seize control of the future” of Ethereum through enforcement actions. “Unfortunately, a Texas court dismissed our lawsuit on procedural grounds without addressing the merits of the claims against the SEC. Our action against the regulator exposed an overreaching investigation into Ethereum, and politicians and the public have expressed deep concern […],” ConsenSys said in a statement.
