CNF Brief: 5 biggest stories of the week

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As Ethereum confirms a major update expected later this year, Gary Gensler hinted that ETH could be a security. Bitcoin is poised to outperform ETH, with analysts tipping the biggest digital asset to hit $56,000.

The past few days have been hectic for the biggest crypto market. While network development is constantly increasing, the market continues to move sideways. Notably, there is nervousness in the community after Gary Gensler hinted that all cryptocurrencies except Bitcoin could be securities.

Additionally, SEC Branch Chief Lisa Braganca warned users that the potential legal ramifications of using emojis could point to future gains.

With the latest CNF Brief, we take a look at 5 of this week’s biggest stories.

Shiba Inu partners with an industry giant serving 37 countries and 40 million payment terminals

Earlier in the week, Shiba Inu confirmed its latest partnership with Ingenico, a global payment solutions provider, to allow users to pay in crypto via Binance Pay.

Crypto payments have become easier in France 🇫🇷

We recently partnered with @ingenico, a global payment solutions provider, to allow users to pay in crypto via #Binance Pay.

Another milestone for global crypto adoption 🤝 pic.twitter.com/S8f8Pab7nW

— Binance (@binance) February 22, 2023

Binance and Ingenico will bring additional crypto-payment utilities to millions of users worldwide, starting with France. The crypto payment option will bring an all-in-one solution rather than the multiple integrations often required by merchants…Read More

Gary Gensler Classifies All Cryptos Except Bitcoin as Security

After SEC Chairman Gary Gensler classified the staking program provided by cryptocurrency exchange Kraken as unregistered securities, secure proof-of-stake (PoS) blockchains, including Ethereum, Cardano and Solana, envision a tough time ahead. Gensler warned investors that most cryptocurrency tokens will not survive the long term. This contradicts former SEC official William Hinman who publicly stated in 2018 that Bitcoin and Ethereum were not securities.

Meanwhile, US Treasury Janet Yellen called for better regulation of the crypto space and reassured that the government is not considering banning the space…Read More

₿𝗥𝗘𝗔𝗞𝗜𝗡𝗚: US has no plans to ban #bitcoin, says Treasury Secretary. pic.twitter.com/DarQZATFwa

— Documenting ₿itcoin 📄 (@DocumentingBTC) February 25, 2023

Ethereum announces massive upgrade to address long-standing ETH supply issues

Ethereum lead developer reveals that Ethereum will launch a new testnet dubbed Holli (Holesovice) in September 2023. This has been confirmed by Ethereum lead developer Tim Beiko.

A new testnet, Holli, is due to launch later this year, and hopefully we can figure these things out before then! I made two suggestions on the repository and would like to hear from the application layer developers on how we could best approach this!

— timbeiko.eth (@TimBeiko) February 23, 2023

As the developer further explained, testnets are beneficial for three specific groups, namely client developers, application developers, and node operators/stakeholders/miners. It is important to keep in mind that all three have different needs. The upgrade will follow the Ethereum Shanghai upgrade, another notable event, which is expected to go live in the second half of this year…Read More

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Hashflow Token (HFT) ready for a huge rally and massive gains in a short time

In a Twitter post, crypto strategist Cantering Clark told his 160,000 followers that he’s pretty bullish about the Hashflow Token (HFT) and that it’s making a name for itself in the cryptocurrency.

A technical chart shared by Clantering Clark shows that HFT is giving a breakout from its accumulation zone.

The last ticker-free chart I shared did a 3x this week.

I patiently built a spot position in this one because the setup seems to be way ahead.

3 things in his favor.

-New part and new graphic effect.

-No microcap but no overweight… https://t.co/twoHI0a91b pic.twitter.com/WODQXqA1Xl

— Clark (@CanteringClark) February 12, 2023

Hashflow Token (HFT) is a microcap in the crypto space with a valuation of around $128 million. At press time, it is trading down 3% at a price of $0.6903. In its recently released roadmap for 2023, the Hashflow blockchain indicated that it plans to launch Hashverse, a gamified worm-based decentralized autonomous organization (DAO), which will allow users to stake complete token quests, as well as to earn non-fungible income. tokens (NFT)…Read More

Bitcoin (BTC) will head towards $56,000

After Bitcoin’s recent breakout and Nasdaq correlation, analysts expect the price of BTC to hit $56,000 this year. Over the past two weeks, BTC has been trading in a narrow range between $23,000 and $25,000. To achieve the set target, the digital asset will more than double from current levels.

Pseudonymous crypto analyst KALEO tweeted to his 562,000 followers that the Ethereum/Bitcoin (ETH/BTC) pair is now trading below a diagonal trendline. Thus, ETH is likely to follow Bitcoin in terms of gains.

$ETH/$BTC finally broke below the HTF support line we are watching.

Keep in mind that this chart only shows the relative strength of BTC, so expect to see BTC start to surge a little faster over the next few weeks. pic.twitter.com/tky1q9DDIw

— KALEO (@CryptoKaleo) February 13, 2023

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One of the key indicators is that on-chain data provider Santiment noted that as altcoins fall behind, whales and trading volumes may shift to Bitcoin…Read More

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