Yellow Capital Blog/Weekly Crypto Digest/Weekly Crypto Digest for September 18 - 24, 2023.

Weekly Crypto Digest for September 18 - 24, 2023.

Sunday, September 24, 2023

Bitcoin did not hold above $27,000, The Fed kept the key rate the same, Coinbase Report: Every Fifth American Owns Cryptocurrencies, Bitcoin mining difficulty has once again reached an all-time high, Kiyosaki predicted a massive influx of investors into Bitcoin, and more news.

Bitcoin did not hold above $27,000

On Monday, September 18, the quotations of the first cryptocurrency exceeded the level of $27,000. In the following days, the asset rate repeatedly fell below this mark and at the end of the week did not hold the psychological boundary.
At the time of writing, Bitcoin is trading at $26,600.

The Fed kept the key rate unchanged

On September 20, the US Federal Reserve System (FED) kept the range of the key rate at the level of 5.25–5.5% per annum. The decision coincided with market expectations.
According to the Fed, inflation in the US remains high, the unemployment rate is low, and economic activity continues to grow steadily. The regulator will continue to strive for maximum employment and inflation of 2% in the long term.

The stablecoin ℓUSD collapsed to zero after the DeFi project Linear was hacked

Hong Kong-based DeFi project Linear Finance announced an attack that caused it to lose all liquidity in the ℓUSD stablecoin on the PancakeSwap and Ascendex platforms.
The price of the coin collapsed to zero. The amount of damage is unknown.
The attacker was able to create an unlimited amount of ℓAAVE and subsequently exchange the liquid asset for ℓUSD via Linear Exchange, and then sell it on PancakeSwap and Ascendex.

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Bitcoin mining difficulty has once again reached an all-time high

As a result of the next recalculation, the difficulty of mining the first cryptocurrency increased by 5.48%. The indicator renewed the maximum at the mark of 57.12 T.
The average hashrate for the period since the previous value change is 423.22 EH/s. The range between blocks was 9.5 minutes.

Coinbase Report: Every Fifth American Owns Cryptocurrencies

Karl Sebastian Greenwood from OneCoin

A recent study by the crypto exchange Coinbase showed that every fifth adult resident of the United States owns cryptocurrencies.
According to the data obtained, 52 million Americans store digital assets in their wallets.
87% of respondents believe that the financial system of the United States needs to be changed. Every second Coinbase survey participant called it unfair to certain categories of citizens. And only 14% of respondents said they look at the future of the US financial system with optimism.
These studies have shown that in some states, including Ohio, Pennsylvania, and Nevada, more than 40% of cryptocurrency owners send them to other countries to help loved ones. They noted that the commission for such transactions is much lower than in banks or intermediaries.

Robert Kiyosaki predicted a massive influx of investors into Bitcoin

The author of the bestseller "Rich Dad, Poor Dad" and entrepreneur Robert Kiyosaki recommended investing in gold, silver, and Bitcoin before the collapse of the US economy.
He called the question of what the price of these assets will be in 2025 stupid. In his opinion, it is more important: what quantity of them "you have today".

The generated ChatGPT token gained $14 million in trading volume on Uniswap in a day

The programmer integrated the OpenAl API with his own script for the automatic creation of tokens using ChatGPT. On the first day, the trading volume of the AstroPepeX (APX) meme coin reached $14 million on Uniswap.

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