A widely used Bitcoin technical analysis indicator suggested that BTC is on the verge of an “explosive price expansion” toward new all-time highs. Key takeaways: Bitcoin’s Bollinger Bands indicator reached a critical turning point for bulls. Bitcoin’s cup-and-handle pattern targets $300,000, backed by multiple tailwinds. Read more
The bug impacted some remote procedure call (RPC) nodes, causing them to fall out of sync, but did not impact onchain block production. The Polygon Foundation, the organization that oversees development of the layer-2 scaling network in the Ethereum ecosystem, said on Wednesday that consensus and finality functions have been restored, following a software bug that caused some nodes to fall out of sync with the blockchain. Polygon successfully executed a hard fork following the software bug that disrupted some remote procedure call (RPC) nodes, which are used to relay information between applications and the blockchain layer, the Polygon team said in Wednesday’s update. The bug was caused by a “faulty” proposal from a validator, which pushed some of the Bor nodes, used for transaction ordering and block production, onto divergent network forks, according to Polygon co-founder Sandeep Nailwal. Nailwal said: Read more
Sate Senator Keith Kelley of Alabama echoed concerns made by some banking groups after the passage of the GENIUS Act in July. Keith Kelley, a Republican state senator representing Alabama’s 12th district, is sounding the alarm for the potential impact of the federal stablecoin bill, the GENIUS Act, two months after it was signed into law by US President Donald Trump. In a Wednesday op-ed for 1819 News, Kelley said there was a loophole in the GENIUS Act that, if exploited, could “devastate” the economies of rural areas like many in Alabama. According to the senator, the bill would allow “cryptocurrency platforms to distribute financial rewards,” incentivizing people to withdraw funds or close accounts at small community banks in the state. Read more
REX and Osprey clear the SEC’s 75-day window with multiple crypto ETFs poised to debut, even as regulators push back decisions on rival Ether, Solana and XRP products. New batches of cryptocurrency exchange-traded funds (ETFs) from REX and Osprey have cleared the US Securities and Exchange Commission’s (SEC) 75-day review window and are expected to begin trading by Friday, according to Bloomberg Intelligence analyst Eric Balchunas. “Post-effective means that it’s going to launch, basically,” Balchunas told Cointelegraph in a phone interview, referring to the lineup that includes the REX-Osprey Bonk ETF, Trump ETF, Bitcoin ETF, XRP ETF and Doge ETF. Cointelegraph previously reported that the Doge ETF was slated to debut on Thursday, with timing determined by its structure under the Investment Company Act of 1940. Unlike products filed under the Securities Act of 1933 — which was used to approve spot Bitcoin (BTC) ETFs last year — 1940 Act funds face a simpler path to market. Read more