Daily Crypto NewsEDITION #566, 11 August 2022

Eternal Mind Merger of Mr Buterin: Goerli joins PoS

Hey Moni Maker 🌟

Today is Mountain Day in Japan. Yeah, mountains. Many people don't understand the joy of mountains until they age. Some people don't get it their whole lives; why do mountains have so many fans? But sometimes make yourself a day-off, and drive somewhere mountainous. Yes, the mountains will remind you of your favourite shitcoins' charts at first, but then you'll feel their power. Or not.
 

Let’s go!

Should we write about dYdX restricting access to those users who interacted with Tornado Cash? We guess we'd better write about it in a big article on the site, and you can find by the #GemNews hashtag. Now let's get to something more positive. 

Ethereum, as you can see, pumped 16%; why? Because one of its testnets, Goerli, successfully went through a Merge and is now operating at Proof-Of-Stake. Tesnets Ropsten and Sepolia also successfully switched to PoS. The difference between them is that Goerli was operating on Proof-Of-Authority. Well, as they say, never mind.

It was the final network before the mainnet. Now Comrade Ethereum is supposed to switch to PoS as early as September 19th. We wrote about the pluses of PoS here.

But please notice that the move to PoS will not affect commissions (HA-HA!). Buterin said on the podcast that this is a myth. And we all thought the merge event would hit fees as well, but okay. 

Let's play macroeconomists, yep. According to the profile resources, inflation in the U.S. in annual terms slowed to 8.5% in this month, i.e. July. Btw, analysts had expected 8.7%.

This inflation rate slowed for the first time in 5 months, according to the U.S. Department of Labor report. 

So what? 

Usually, such news can be very favourable to the market's growth. But we should also consider the Fed's behavior and the geopolitical situation.

And you can check the latest Arthur Hayes essay - he told a lot about the US economy and set some strategies on Ethereum. 

Listing is the process when a particular coin first appears on an exchange. When coins are listed on popular exchanges, such as coinbase, they often go to the moon.

And more you can find in our Glossary!

– Hotbit stopped the exchange operation

– Ethereum Curve DeFi frontend hack

– Invisible blockchain in play-2-earn

– Coinbase made a $1 billion loss

– Iran makes international transactions by crypto

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