CFTC Chair Declares $ETH A Commodity, Crypto Daily TV 10/3/2023

CFTC Chair Declares $ETH A Commodity, Crypto Daily TV 10/3/2023

Table of Contents

In Todays Headline TV CryptoDaily News:

Vitalik Buterin dumps altcoins that have "no moral value."

Vitalik Buterin, a co-founder of the Ethereum blockchain, liquidated a portion of his altcoin holdings this week, worth 220 ether, saying later that the tokens had "no cultural or moral value."

Silvergate Bank announces 'wind down' to liquidate assets.

One of the few major banks to support the cryptocurrency industry is winding down operations to begin the process of voluntary liquidation. Silvergate Capital Corporation, the holding company for the California-based Silvergate Bank, announced it would be shutting down the bank.

CFTC chair calls Ethereum a commodity.

Chairman of the Commodities and Futures Trading Commission Rostin Behnam has called Ethereum a commodity and not a security, in apparent contrast to SEC Chairman Gary Gensler who has consistently argued that every cryptocurrency other than Bitcoin falls under securities laws.

BTC/USD dove 6.2% in the last session.

The Bitcoin-Dollar pair dove 6.2% in the last session. According to the CCI, we are in an oversold market. Support is at 21209.3333 and resistance at 22537.3333.

The CCI points to an oversold market.

ETH/USD dove 6.0% in the last session.

The Ethereum-Dollar pair dove 6.0% in the last session. The Ultimate Oscillator is giving a negative signal, which matches our overall technical analysis. Support is at 1506.3333 and resistance at 1583.0133.

The Ultimate Oscillator is currently in the negative zone.

XRP/USD dove 4.7% in the last session.

The Ripple-Dollar pair fell 4.7% in the last session after gaining as much as 2.1% during the session. The RSI's negative signal is in line with the overall technical analysis. Support is at 0.3591 and resistance at 0.4157.

The RSI is giving a negative signal.

LTC/USD plummeted 8.2% in the last session.

The Litecoin-Dollar pair dove 8.2% in the last session. The CCI indicates an oversold market. Support is at 78.7533 and resistance at 88.6533.

The CCI is signalling an oversold market.

Daily Economic Calendar:

JP BoJ Monetary Policy Statement

The Monetary Policy Statement is released by the Policy Board of the Bank of Japan. The statement gives clues for future changes in monetary policy. Japan's BoJ Monetary Policy Statement will be released at 03:00 GMT, Japan's BoJ Interest Rate Decision at 03:00 GMT, Finland's Current Account at 06:00 GMT.

JP BoJ Interest Rate Decision

The BoJ Interest Rate Decision is announced by the Bank of Japan. The interest rates are a key mechanism through which the central bank influences inflation.

FI Current Account

The Current Account measures net flow of current transactions, including goods, services and interest payments into and out of the local economy. 

US Nonfarm Payrolls

The Nonfarm Payrolls presents the number of new jobs created during the previous month excluding the agricultural sector. The US Nonfarm Payrolls will be released at 13:30 GMT, the UK's Industrial Production at 07:00 GMT, Finland's Industrial Output at 06:00 GMT.

UK Industrial Production

Industry is a basic category of business activity. Changes in the volume of the physical output of the nation's factories, mines and utilities are measured by the index of the industrial production.

FI Industrial Output

The Industrial Output shows the volume of production of industries, i.e., factories and manufacturing. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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