Crypto markets seem to have shrugged off news from the Securities and Exchange Commission (SEC) that it intends to file an appeal of the ruling in its case against Ripple, which ended in a partial victory for Ripple in July. Both Bitcoin (BTC) and Ether (ETH) are trading flat in Asia as the region begins its business day, with BTC trading at $29,581, down 0.8%, and ETH trading at $1,854, down 0.1%. “It should also be noted that the market is in a relentless period of HODLing at the moment with exchange balances at close to record lows, and the amount of Bitcoin and Ether that haven’t moved in 7-10 years at a record high, meaning that it’ll take a lot to move the market. More than news that the SEC is filing an appeal of a case that it might not win,” said a crypto analyst.
The recent Curve exploit fiasco revealed the susceptibility in the DeFi space, and has investors wondering what is a Bart pattern? A Bart pattern is a technical analysis pattern that is used to predict a bullish reversal in the price of an asset. It is named after the character Bart Simpson from the popular TV show The Simpsons.
The stablecoin market is expected to soar to almost $3T in the next 5 years, according to a report from Bernstein. Russia is also set to test its digital ruble with banks and clients on August 15.