Criticism of SEC Crypto Regulatory PracticesAccording to news on July 19, two Republican members of the U.S. House of Representatives have criticized the SEC's approach to regulating the cryptocurrency industry, saying its actions are aimed at covering up and undermining efforts to write comprehensive legislation. Reps. French Hill and Dusty Johnson wrote in a letter sent to SEC Chairman Gary Gensler on Wednesday: "While Congress is committed to closing the regulatory gap, the SEC has chosen to regulate through enforcement. This approach does not bring legal benefits. regulations and customer protections, which would instead create further confusion, as evidenced by the recent summary judgment.” The judgment referred to Ripple’s partial victory in its court battle with the SEC.
FTM trade ideas
A giant whale exchanged fUSDT for FTM, and lost $200,000On July 8th, according to 0xScope monitoring, due to the suspension of Multichain services, people are selling fUSDT and other stablecoin encapsulation assets in exchange for FTM, and depositing FTM in CEX to escape from the Fantom network. Fantom-related stablecoin wrapper assets are currently trading at $0.7. The giant whale address at the beginning of 0xe7 continued to sell 100,000 fUSDTs in exchange for FTM worth 70,000 US dollars (similar operations had been performed many times before), and its actual loss has reached 200,000 US dollars.
$FTM Finishing up accumulation before next leg!$FTM has been consolidating while putting in a corrective ABC... Fantom is looking poised for a breakout over the next week or two!
IMO This is more Likely to break towards the 1$-1.5$ area if the market continues trend whereas a break down would land somewhere between 0.30c and 0.40c and ultimately I can't see $FTM going below 1 billion Market Cap
Remember this is just the first subwave of the first wave in a 5 wave sequence! GL!
FTM (Fantom) Coin {Market Cap} Analysis 01/04/2022Technical Analysis:
There exist Bullish Divergence of Total Value and MACD which the sign of bearish trend reversal and start of the new Bullish trend which may lead to the new economical cycle,
There are Total of 3 Targets defined by the Average Confluences of the Fibonacci Expansion and Fibonacci Trend Base Extension. these confluences Points can even be counted as the Major Pivot Points.
The 3 TP gets its confirmation as the Bullish trend Triggers the 2 TP followed by some Price correction and Reaccumulation. on its Up Formation rally.
Currently the Total Value is at 61.8% Fibonacci retracement level; it means it has broken the resistance level and had rechecked it backed and it has been Proved to be the support area.
Probably we may not again see the 61.8% Fib or bellow...
