The crypto market starts the new week with a correction. At the same time, new allegations against Binance are loud.

At the start of the week, the crypto market switches to correction mode. With a few exceptions, almost all coins suffer losses in the double-digit percentage range. The loss margin among the ten most valuable cryptocurrencies by market capitalization is between four and eleven percent. Solana does the worst here. Just a week ago, the Ethereum competitor celebrated a new all-time high at around $ 214. Since then, however, the SOL course has only tended in a southerly direction. At the time of going to press, Solana is trading at $ 144.59, down 13.87 percent.

In addition, there are new reports about Binance . As Bloomberg claims to have learned from anonymous sources, several American authorities, including the Commodity Futures Trading Commission (CFTC), are said to have initiated investigations against the world’s largest crypto exchange. The allegations are of insider trading and market manipulation. The authorities are investigating to what extent Binance or individual employees could have achieved advantages for themselves or the company by taking advantage of customer orders. To this end, the CFTC recently looked for witnesses and initiated an interrogation. However, the authority was not prepared to comment.

Binance rejects the allegations. In a statement to Bloomberg, a company spokesman emphasized the “zero tolerance policy” towards insider trading and at the same time referred to a “very strict ethical code” that Binance has towards its customers and the crypto industry. The trading platform has long since introduced strict guidelines in this regard, which would also result in criminal penalties in the event of violations.

At the same time, there are further investigations against Binance in the USA. Both the Internal Revenue Service (IRS) and the US Department of Justice are currently examining possible money laundering activities on the crypto exchange.

Binance has been under regulatory pressure for some time

For Binance, the expansion of the investigation comes at a time when the exchange is already under massive observation by international supervisory authorities. As a reminder, at the end of June , several authorities warned citizens about derivatives trading on Binance. The platform did not have any permission for such activities, it was said at the time. As a result, several payment partners ended their cooperation with the crypto marketplace.

Binance itself has since done quite a bit to address regulatory concerns. At the end of August, for example, an extensive KYC process was introduced that every user has to go through. In addition, the withdrawal limit for non-verified users was reduced from 2 to 0.6 BTC. Measures which at least were able to appease the British authorities to some extent, although a resumption of trading activities failed to materialize.

One of the main reasons for the continuing skepticism towards Binance is probably due to the fact that the crypto exchange still does not have a clear headquarters. For example, Malta, the Cayman Islands and the Seychelles are considered possible business locations, but this information has not yet been verified. One now wants to change that. As CEO Changpeng Zhao (aka “CZ”) said in an interview with the South China Morning Post , the company wants to become “more centralized” in order to be able to work better with regulators. As a first step, the aim is therefore to set up a main directorate. However, when and, above all, where this new location is to be built, CZ left it open.

A new cryptocurrency could soon rise parabolically: Cosmos Coin (ATOM). One industry observer even calls Cosmos Coin (ATOM) the most important cryptocurrency of all. What does that mean for the price?

Does Cosmos have a future?

Numerous traders and analysts have recently been expecting strong price gains for a crypto currency called Cosmos Coin (ATOM). In fact, Cosmos has been demonstrating tremendous strength for a few days : the blockchain project was able to grow more than 35% within the last seven days, within 24 hours it was almost 4% (data from Coinmarketcap.com). (Also Read: Ethereum: Burned more than 1 billion US dollars since hard fork “London”)

Yesterday, on September 18, Cosmos Coin (ATOM) also hit a new all-time high of $ 41.34 . ATOM is currently trading at $ 39, so it is happily pumping the Cosmos network – and the upward trend could continue, various industry observers believe. (Also Read: Polygon (Matic) Price Prediction: Bulls are struggling to overcome a trend line)

For example, full-time trader Michaël van de Poppe (@CryptoMichNL on Twitter) comments: Cosmos Coin (ATOM) could almost double its value from here.

“ATOM could go up to $ 70.”

$ATOM could run to $70. pic.twitter.com/lyXfPuFMVO

— Michaël van de Poppe (@CryptoMichNL) September 10, 2021

Poppe is not alone with his bullish stance on Cosmos. Many colleagues are similarly positive, such as the popular pseudonymous KALEO (@CryptoKaleo on Twitter). He writes to his more than 382,000 followers:

“I can’t believe I haven’t even mentioned ATOM here recently. [To be honest] probably because I had FOMO that I didn’t [accumulate] enough. As much as I believe in LUNA, of course I also believe in the Cosmos ecosystem. Currently at [dollar all-time high]. Should see $ 50 + soon. “

Can’t believe I haven’t mentioned $ATOM once recently on here. Tbh I think it’s because I’ve had FOMO that I haven’t stacked enough. As much of a believer as I am in LUNA, I’m obviously a believer in the Cosmos ecosystem. Currently at USD ATH. Should see $50+ soon. pic.twitter.com/TkNA2Tv6hu

— K A L E O (@CryptoKaleo) September 12, 2021

What is Cosmos Atom?

According to “Guy”, the pseudonymous moderator of the popular YouTube channel Coin Bureau, Cosmos Coin (ATOM) could even become the most important cryptocurrency on the market – even before Bitcoin. (Also Read: Crypto market in Africa grows by 1,200 percent in one year)

According to Guy, Cosmos is potentially so valuable because it fulfills an important task within the crypto ecosystem, namely: to let different blockchains communicate with each other in a decentralized way. Cosmos has progressed so far with regard to this so-called interoperability that the coin could become the market leader in this area, according to the Youtuber in a current analysis:

“Cosmos is probably one of the most important, if not the most important, cryptocurrency projects out there. This is simply because cryptocurrencies are doomed to fail without widespread interoperability. “

He also gives a price target for Cosmos Coin : Like the pseudonymous analyst Mr. Pepper , he expects at least 100 dollars.

Cosmos Forecast: Market Sentiment

The more, the merrier and so the more the experts, the more the opinions for Cosmos (ATOM) price predictions:

News: Based on our price predictions, a long-term increase is expected at Cosmos (ATOM) price, the prognosis for 2026 is $130.699 based on the current movements. With a 5-year investment, the revenue is expected to be around +683.94% in the cryptocurrency market.
Wallet Investor

According to our Cosmos forecast, the ATOM might trade around $24.62 by the end of 2021 and $50.79 by 2025.
Digital Coin Price

Based on the current price and our ATOM price predictions data, the Cosmos (ATOM) price has been on an uptrend for the past 1 year. Our price predictions take several variables into accounts such as volume changes, price changes, market cycles, and similar coins. Future ATOM/USD price is predicted at $33.863784 after a year according to our forecast.
GOV Capital

Based on our ATOM price predictions, the maximum value might be around $13.52, a minimum price of $10.90 by the end of 2021. The average Cosmos (ATOM) price for December 2021 might be $11.99. Cosmos price forecasts at the end of 2021 might be around $12.64.
Long Forecast

The Cosmos (ATOM) price is forecasted to reach $14 by the starting of December 2021. The expected maximum price is $17.765, minimum price $12.080. Based on our ATOM price predictions and analysis, The future price of this coin might cross $14.212 by the end of this year.
Trading Beasts

According to Redditors’ price predictions, the ATOM price is set to surpass the expectations in the upcoming years. By 2025, the Cosmos (ATOM) price will breach the mark of $60.082.
Reddit Community

Cosmos (ATOM) price predictions, the ATOM/USD will spike up and reach a price range of $26.84, eventually potentially scaling even to a whopping $1 trillion market cap as a result of the rise in demand for DeFi asset in the next five years to come by traders.
CoinSkid

According to news and our ATOM price prediction, a lot of ATOM projects are in the pipeline awaiting release. Right from the beginning concept search phase to the testing phase and by the end of the year, a lot of new projects would have been completed, hence, all-around bullish price predictions of crossing an all-time high of price $21.0400 creating more opportunities to trade, buy cosmos making it a profitable investment.
Coin Price Forecast

Cosmos Price Prediction 2021
Updates will push the scalability of the Cosmos network to 1,00,000 transactions per second moving the blockchain from energy-intensive methodology. The network is super popular with numerous projects built on it, given the advancements are maintained we can see ATOM soar to $30 making it an all-time high.

Cosmos Price Prediction 2022
With multiple partnerships & collaborations and community funding, the market looks back at ATOM to perform reaching a level of $38, which is quite optimistic but surely feasible.

Cosmos Price Prediction 2023
With any changes in Govt. policies and regulations, the ATOM price may have its share of hazy days. If ATOM price holds the support at the 100 SMA firmly, buyers will then have ample time to sell Cosmos for gaining profit and stability. By the end of 2023, the predicted high of ATOM might be around $42.

Cosmos Price Prediction 2024
Racing up to climax will not be hence so difficult for Cosmos price as additional short-, medium-, and long-term price targets can be found to buy or sell ATOM. Starting with a minimum of $50 in the long term it may cross $55.

Cosmos Price Prediction 2025
ATOM/USD though plummeted but based on predictions and resistance level one of the most bullish on-chain metrics in favor of ATOM is the significant increase in the number of coins deposited into the contract. Cosmos (ATOM) price is set to show promising signs reaching a zenith of $60 by the end of 2025.

Ethereum founder Vitalik Buterin is convinced that the main task of many blockchain projects in the next few years will be to switch from a central to an effective decentralized governance structure – how can that succeed?

On August 16, Vitalik Buterin published an article in which he dealt in detail with the governance of decentralized protocols. The Ethereum founder is of the opinion that the existing administrative mechanisms (governance) are flawed and, in particular, prevent protocols from Decentralized Finance (DeFi) from reaching their full potential. (Also Read: Ethereum: Burned more than 1 billion US dollars since hard fork “London”)

Currently, the majority of DeFi projects manage their protocols with so-called governance tokens . For example, at Uniswap, the holders of UNI tokens can submit proposals for protocol changes and vote on which upgrades should be implemented and which should not. Other examples of DeFi projects where these governance mechanisms work similarly are Yearn Finance (YFI), Synthetix (SNX) and Compound (COMP). But there are also a multitude of decentralized protocols outside of the Ethereum ecosystem that have to make governance decisions. Regardless of whether it is about financing infrastructure, introducing an upgrade or other improvements; Governance in DeFi-Space is omnipresent and essential for the success of a project,says Vitalik Buterin .

Vitalik Buterin criticizes decentralized governance

Time and again, DeFi projects come under criticism because they allow large whales to determine what happens to a project almost single-handedly in governance votes. Many accuse them of having large amounts of governance tokens that they use to make decisions that are in their own best interests.

In addition, too high a token concentration can lead to projects falling victim to hostile takeovers. A recent example of such a case is Tron’s acquisition of Steem. Together with several crypto exchanges, Tron used a large number of STEEM tokens to specifically influence decisions within the decentralized platform. You can read here what exactly happened back then .

Vitalik Buterin is of the opinion that such attacks on decentralized applications are inevitable and will increase rather than decrease in the future. He therefore considers it important that decentralized governance must be further developed and go beyond the coordination processes currently based on governance tokens.

The most important thing that can be done today is to move away from the notion that governance token voting is the only legitimate form of decentralized management of protocols.

Otherwise, according to Vitalik Buterin, there are always malicious actors who manipulate the governance systems of decentralized protocols by “buying votes”. But what solutions does the Ethereum mastermind have for these complicated problems?

“Decentralized governance needs to be taken to the next level”

In his contribution, Buterin advocates research into three governance systems, the idea of ​​which we want to take a closer look at below:

1. Limited governance

One way to solve the above problems would be to implement certain governance limitations set out in the code. This could, for example, stipulate that certain properties of a decentralized protocol, similar to those in a constitution, may not be changed. Uniswap is already doing this by only allowing governance to decide on the distribution of UNI tokens and the fee structure. Another would be to implement delays in introducing a new upgrade. A governance decision made at time T only takes effect after T + 90 days. This allows users and applications who find the decision to be unacceptable to switch to another application.

2. Governance without tokens

Another option proposed by Buterin is to forego governance tokens altogether. Instead, a governance system could be introduced in which only users or active members of a decentralized application are allowed to participate. In such a system, each user would have one vote, which enables “fairer” voting. In addition, the votes of extremely active users could be weighted more heavily than those of less active users. Vitalik Buterin named ProofOfHumanity and BrightID as examples of projects dealing with such governance systems .

3. Skin in the game governance

As a third approach, Vitalik Buterin suggests changing the rules of voting in order to change the fundamental problem of token-based governance systems.

Token-based governance decisions fail because voters are collectively responsible for their decisions, but not every voter is individually responsible for the consequences of their own decision.

Currently, all voters are collectively responsible for the outcome of a decision in governance votes. Therefore, should everyone make a damaging decision, the value of their tokens will drop. On the other hand, those who supported such a decision suffer no more than those who opposed it. By changing these dynamics and punishing individuals for bad decisions, one could fundamentally change the dynamics of governance decisions. In this way, voters would also be individually and not only collectively responsible for their decisions.

In conclusion, Vitalik Buterin pointed out that the governance of decentralized protocols was still in its infancy. For this reason, the community should currently focus on experimenting as much as possible with the various systems of governance .

DeFi could become a billion-dollar industry, says Blockdata. For this, banks would only have to invest 1 percent of their AUM. At the moment there are still concerns.

Bitcoin treads on the spot. Compared to yesterday’s trading day, the digital store of value recorded a slight price loss of 0.87 percent. As of press time, the digital store of value is trading at $ 47,887. In the altcoin sector, too, hardly anything has changed significantly among the ten most valuable cryptocurrencies. The majority of the top 10 coins are listed in a slight minus range of around 2 percent. The biggest loser is Solana with a price decline of 6 percent. Only Polkadot and Dogecoin can report green numbers. Outside the ranking, Shiba Inu in particular benefited with an increase of 35.76 percent. The Dogecoin blend was previously listed on the US crypto exchange Coinbase .

Aside from this, a report by the crypto analysis company Blockdata is currently causing a stir in the DeFi space . In it, CEO Jonathan Knegtel predicts that around one trillion US dollars could flow into the decentralized financial market in the next five years. He writes:

If even 1 percent of the assets under management of the world’s 100 largest banks were invested in DeFi, even if only on a trial basis, we would be faced with a cash injection of nearly $ 1 trillion.

Jonathan Knegtel, Blockdata CEO

According to Blockdata , 55 of the 100 largest banks have already invested in cryptocurrencies and / or in blockchain-based companies. As a result, the leap from crypto to DeFi space would not be far. Thus, the entry of “one or two big banks” could be enough to trigger a chain reaction that would drive more financial institutions into the sector, says Knegtel.

Regulatory concerns are holding back DeFi investments

In general, the traditional financial sector is closely following the development of the rebellious DeFi space. The rapid growth of the industry since last year in particular has made some investors itchy fingers. But many seem not yet ready to open their wallets. The Blockdata CEO believes that the regulatory concerns are too great.

The industry has also recognized this and is now responding with a new wave of DeFi solutions. These are projects that want to create a kind of link between the DeFi space and the regulatory needs of institutional investors. For example, the US FinTech Circle is currently working on a platform that will enable companies to access the DeFi lending market via API.

Blockdata also welcomes recent regulatory efforts from SEC chief Gary Gensler. In an interview with Bloomberg in early August, the former MIT professor called for at least parts of the DeFi sector to be placed under the care of the US stock exchange regulator. One possibility is to treat lending platforms as investment funds. “If companies advertise a crypto asset with a certain interest rate, that could be enough to put the loan under SEC supervision,” Gensler said at the time. 

The amount of Ethereum that has been burned since the London Hard Fork in early August is now more than $ 1 billion. Deflationary effects are likely to occur more frequently in the near future.

The amount of Ethereum that has been burned since the hard fork “London” in early August has just passed the $ 1 billion mark. At the time of this writing , the ultrasound.money platform , which is tracking the combustion process, reports a total consumption of 304,321 ETH. At the current exchange rates, that’s a little over a billion US dollars. Previously, Anthony Sassano, founder of EthHub and Daily Gwei, tweeted that the amount of ETH burned exceeded 300,000. (Also Read: Crypto market in Africa grows by 1,200 percent in one year)

The combustion process started on August 5th when the Ethereum upgrade called “London” and with it the long-awaited upgrade EIP-1559 was introduced. This upgrade changed the mechanism of transaction fees . The auctions where fast processing meant high fees no longer exist. Instead, the basic fee is now set algorithmically and adapts to the network load. In return, the upper limit of the block size of 25 million gas units is now twice as high as before. If the demand exceeds this rate by half, the basic fee goes up. Otherwise it will drop again. 

Transaction costs with Ethereum are significantly lower

By and large, the Ethereum community should welcome the hard fork. After all, according to an estimate by the Gemini crypto exchange, it is accompanied by a reduction in transaction costs of around 90 percent. Since with the innovation the fees are not transferred to miners as before, but are simply burned, the flow of ether slows down significantly . Deflationary phases, which burn more ether than gain new, could therefore occur more frequently in the near future.

This applies all the more from the point in time at which the ETH 1.0 chain is merged or “docked” with the ETH 2.0 Beacon Chain, which means the end of proof-of-work and the transition to proof-of-stake. According to the official documentation, this should happen sometime in the first or second quarter of 2022. It is obvious that the miners will no longer play a role in the network. 

Currently, the largest consumer of gas fees is the NFT marketplace OpenSea , which generated around 850 ETH or almost three million US dollars in fees within one day. In any case, the hype about DeFi and especially NFT has ensured that the old fee structure of Ethereum could no longer keep pace and therefore made the hard fork “London” necessary. 

U.S. financial regulators, led by the Treasury Department, have started investigating crypto-asset operators under the leadership of Secretary Janet Yellen. The company Tether and the USDT stablecoin issued to it will be particularly verified, as they are the main players in the cryptocurrency market. According to Treasury officials, it is they who represent the greatest danger. 

According to experts, US regulators are bracing for further restrictions on the crypto-asset industry. And this is what explains their desire to proceed with official stablecoin verification.

According to fxstreet.com, the US Treasury Department will report on the risks of stablecoins, a presidential task force overseeing financial markets. This report is expected to lay the groundwork for a new approach to the crypto-asset industry in the country.

Tether and other US Dollar (USD) backed stablecoins are among the most traded cryptocurrencies in the industry. The rate of these tokens is tied to the US Dollar, so traders often use them to wait for the price of Bitcoin (BTC) and other cryptoassets to drop. However, regulators are concerned about this situation and believe that stablecoins can be used to manipulate the markets.

US Treasury Department has been scrutinizing stablecoin operators under Secretary Janet Yellen. #Tether and other stablecoins deemed the most urgent risks by Treasury officials. US regulators preparing to clamp down on the digital asset industry https://t.co/KL0LFeP02G

— FXScrypto (@FXScrypto) September 17, 2021

Secretary of State Janet Yellen has previously called on the Presidential Financial Markets Task Force (PWG) to consider strengthening the regulation of stablecoins. She advised creating an appropriate regulatory framework in the United States. These conversations have been taking place since July 19. Next, a group of major financial regulators, including Yellen, Federal Reserve Chairman Jerome Powell, and Securities and Exchange Commission (SEC) chief Gary Gensler, met to discuss their approach to stablecoins. 

Also Read:

• Conflict between SEC and Crypto exchange platform Coinbase continues to escalate
• OpenSea employee accused of NFT insider trading

According to a recent Bloomberg report, the Treasury and other government departments are set to investigate whether stablecoins threaten financial stability.

This is confirmed by data from Reuters. The agency writes that last week, Treasury officials already met with regulators from other financial institutions on the coordination of stablecoins and other crypto assets. The outcome of the meeting was agreement on a formal investigation by the Financial Stability Supervisory Board to determine whether stablecoins pose a threat to the U.S. economy.

The Securities and Exchange Commission continues to put pressure on the Coinbase crypto exchange. What does this mean for Bitcoin?

The conflict between the US Securities and Exchange Commission (SEC) and the largest US crypto exchange platform Coinbase continues to escalate. Recall that representatives of the regulator recently said that legal proceedings could be initiated against Coinbase because of its new service called Lend. Now SEC chief Gary Gensler has made another statement: the exchange may now be subject to additional sanctions, as many of the coins on its platform inherently comply with the definition of securities, while Coinbase does not. is not licensed to provide such services. We talk about the situation in more detail.

Recall that Coinbase was in the Commission’s field of vision because of the Lend platform. The latter allows exchange clients to invest their Stablcoins – i.e. cryptocurrencies linked to the US dollar – and profit from them. In this case, the return is 4% per annum, which is a huge amount in the context of deposits in US banks. Many analysts felt that such actions on the part of the SEC could be seen as an attempt to eliminate the future competitor of the banks, which would lose appeal in the context of the launch of such cryptocurrency projects.

Top US regulator Gary Gensler ups the pressure on crypto exchanges after Coinbase spat, saying they need to ‘come in and talk to us’: Gary Gensler is increasingly focused on crypto trading platforms, although there’s a debate over what the SEC can and… https://t.co/MQeC6SGrpE pic.twitter.com/ubEUNkZUQJ

— you-betterknow (@BetterknowYou) September 14, 2021

Additionally, Commission officials did not provide clear instructions to Coinbase on future actions. Instead, they simply made it clear that the case would end in a trial.

Coinbase is in play

Gensler spoke out before the Senate Banking Committee. In August, he already expressed his concerns about the state of the crypto market, in which many tokens are said to have properties of securities, but are not governed by the relevant laws.

Coinbase management is trying to avoid a direct confrontation with the regulator. Platform CEO Brian Armstrong previously wrote on his Twitter that the Securities and Exchange Commission had not been able to provide clear rules for regulating the industry, so his company did everything simply no proper guidelines to act. According to him, Coinbase is ready to comply with the regulator’s requirements, but they are just not in clear form.

Reporters at Decrypt point out that sometime after Armstrong’s tweet, a short video of what could be considered a title under the law appeared on one of the SEC’s Twitter accounts. However, many crypto enthusiasts saw it as a “trolling” of Coinbase.

The question of what should be considered a security has long haunted the crypto industry. Previously, the Securities and Exchange Commission officially recognized that Bitcoin and Ethereum are not securities, but many other tokens could well fall into this category.

During Gensler’s Senate speech, Senator Pat Toomey said the SEC “has not provided clear rules on which a certain financial product can pass the Howie test.” As a reminder, the Howie test is a mechanism for defining “investment contracts” in financial transactions developed by the United States Supreme Court.

Furthermore, Toomey does not believe that Stablecoins, previously often criticized by Gensler, can be equated with securities because they do not generate any expected financial return for their owner. The SEC chief tried to refute all of the aforementioned remarks: he is convinced that the US Congress has given enough flexibility to the regulator to independently define the concept of securities.

Coinbase’s deepening relationship with the SEC may have negative consequences for the cryptocurrency industry, but it’s unlikely to expect anything huge. Most likely, American investors will be hit again, who cannot communicate with new crypto projects and various exchanges. But there are positive circumstances – nonetheless, the Securities and Exchange Commission did not prevent Coinbase from going into IPOs in April of this year, which means its representatives are not planning to block the oxygen of the larger trading platform for working with digital currencies in the country. Overall, we believe the coin industry has nothing to worry about. First, the Securities and Exchange Commission only affects US investors. Second, its representatives have already taken legal action against Ripple – and its implications for the XRP token were only short-lived. Most likely, the same will happen this time.