Cryptocurrency News Today TheBitTimes.com

The Ethereum Foundation has denied that a wallet under its control was nearly liquidated. Earlier today, crypto traders spotted an unusual transfer of 30,098 ether (ETH) from a suspected Ethereum Foundation address into Maker, a stablecoin-focused crypto lender. Speculators guessed the reason for the $56 million deposit was an emergency collateralization to prevent an embarassing, expensive liquidation. However, Protos reached out to the Ethereum Foundation for comment and was told by a spokesperson that the wallet involved in this transaction was not controlled by the organization. ETH has halved in the past year and declined 27% in the past 30 days, dipping 4% in the last 24 hours alone. As its price continues to crash, the likelihood of liquidating ETH as a depreciating unit of collateral increases. Last month, in response to widespread criticism of the Ethereum Foundation’s governance, Vitalik Buterin replaced its leadership and approved its first-ever deposits...

Altcoins like Toncoin, Compound, Maker, and Hedera Hashgraph jumped on Wednesday. The US published strong consumer inflation data as the CPI soared to 3.7%. Cryptocurrency price s reacted differently to the latest US consumer inflation data. Toncoin’s TON token jumped by 10% while  Compound , VeChain,  Maker , and Aptos rose by over 9%. Bitcoin price remained comfortably above $25,000. US inflation jumped in August Crypto prices reacted mildly to the latest US inflation data. According to the statistics agency, the headline inflation jumped from 0.2% in July to 0.6% in August while core inflation rose to 0.3%. On a YoY basis, inflation rose by 3.7% while core CPI dropped to 4.3%. Gasoline was the main cause of this inflation. Data by AAA shows that the average gasoline price has surged to over $3.85. This trend will likely continue rising as the price of Brent is now comfortably above $92 and WTI has jumped above $89. Therefore, analyst...