Shiba Inu Price Slips on Bearish Grounds, But Top Wallets Signal a Twist BeInCrypto
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- Upon hearing the judge’s decision, Howells said “it’s the great British justice system striking again”
- Howells lost his hard drive in 2013 when it was accidentally thrown away at the tip
- He has been trying to engage with Newport City Council for 12 years to recover his hard drive, but says he’s been “largely ignored”
James Howells has lost his case to recover a lost Bitcoin hard drive from a Welsh landfill that’s now worth around $740 million.
Howells accidentally threw out his hard drive containing 8,000 Bitcoin in 2013 during a household clearout. At the time, he had two hard drives of the same size: one was blank while the other contained his Bitcoin.
He mistakenly put the one containing the Bitcoin into a black bin bag, which his then-girlfriend took to the tip. At the time of his loss, his assets – that he mined in 2009 – were worth around $1.3 million.
In October, Howells sued Newport City Council for $646 million in damages after being denied access to the landfill due to environmental concerns.
Now, Judge Keyser KC, the Circuit Commercial Judge for Wales, has dismissed Howells’ case, stating that there are no “reasonable grounds” for succeeding at a full trial, reports the BBC.
A 12-year battle
Upon hearing the decision, Howells said he was “very upset,” adding “it’s the great British justice system striking again.”
Over the past 12 years, Howells said he has been trying to engage with Newport City Council to recover his lost hard drive, but has been “largely ignored.”
A court filing states Howells hard drive is located in Cell 2, Area 2 of the Docksway landfill. Yet, despite promises to safely excavate the Newport site and to modernize the landfill, the council have rejected Howells’ requests to dig due to “environmental concerns.”
Howells’ lawyers claim that the council have “simply ignored” that 10% of Bitcoin could bring “a huge and desperately needed investment in the local community.”
The judge’s decision comes as Bitcoin soared past $100,000 for the first time at the beginning of December, pushing to an all-time high of more than $108,000.
Uniswap is making a surprising move, rallying in the face of bearish market conditions, and showing signs of resilience despite the downward pressure seen across the crypto space. As bullish sentiment begins to build, market participants are now focused on whether UNI can maintain this upward momentum and break new ground.
As UNI continues to display strength, this analysis aims to determine whether Uniswap’s recent upward movement in spite of the broader bearish market conditions, has the potential to break through key resistance levels and reach new highs by examining the current price action and technical indicators.
Indicators Point Toward More Upward Movement For Uniswap
On the 4-hour chart, Uniswap is showing strength as it approaches the $8.7 resistance level while trading above the 100-day Simple Moving Average (SMA). UNI’s positioning above the SMA indicates a firm trend, suggesting that buyers are gaining confidence with the potential of targeting higher resistance levels.
An analysis of the 4-hour Relative Strength Index (RSI) points to the possibility of continued upward movement, as the RSI has rebounded to the 73% threshold after previously dipping to 52%. This rise indicates that positive momentum is gaining traction, suggesting that buyers are increasingly in control and that further gains could be on the horizon.
After successfully breaking above the daily 100-day SMA, UNI has been exhibiting strong upbeat movement signifying a shift in market sentiment, with buyers gaining confidence and pushing the price higher. If Uniswap can sustain this push, it may open the door for additional price appreciation and challenge higher resistance levels.
Furthermore, the RSI on the daily chart is currently at 65%, having risen from a previous low of 43%. This upward movement suggests that UNI is gaining momentum, signaling more growth. If buying interest continues to hold steady, the positive trajectory indicated by the RSI could support an extended rally for Uniswap, reinforcing positive sentiment in the market.
Potential Upside Targets: How Far Can the Bulls Push UNI?
As Uniswap maintains its upward momentum, the immediate resistance level to watch is $8.7, which could pave the way for a challenge of higher thresholds if surpassed. A breakout above this level could see UNI targeting the $10.3 mark, where significant psychological resistance may come into play.
However, if Uniswap fails to maintain this strength and breaks above the $8.7 resistance level, it could result in a pullback, with the price sliding back toward the $6.7 support zone. A breakdown below this level could lead to more losses, possibly targeting lower support areas.
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- Bernstein analyst says Grayscale ruling was a game changer.
- Gautam Chhugani expects Bitcoin to materially benefit from it.
- The world’s largest cryptocurrency is still lingering around $26,000.
The recent ruling in favour of Grayscale and against the Securities & Exchange Commission was a “game changer”, says Gautam Chhugani – a Bernstein analyst.
Chhugani expects Bitcoin to gain momentum
Last week, a U.S. Court said the regulator lacked adequate reasoning to block Grayscale from converting its bitcoin trust to an exchange-traded fund.
The verdict is a big step towards the first U.S. Bitcoin ETF and paves way for a significant institutions-driven rally in the world’s largest cryptocurrency, as per Chhugani.
Strong showing in courts improved ETF chances and the progressive institutional interest are positioning crypto for an unprecedented institution capital led cycle.
Earlier this year, Ripple secured a huge win in its long-running lawsuit against the Securities & Exchange Commission as well (find out more).
How soon could a Bitcoin ETF be approved?
Despite positive catalysts in recent months, Bitcoin is still lingering around the $26,000 level – well below its year-to-date high of over $31,000. Still, Bernstein’s Chhugani said in his research note today:
This is a cycle slower to take off, but is being laid on much strong fundamental grounds of regulatory clarity and more strategic long-term players entering the space.
He expects the first U.S. Bitcoin ETF to become a reality by March of 2024 at the very most. But the analyst does not expect that exchange-traded fund to be the end of it.
Chhugani is convinced that asset managers will push for a Spot Ethereum ETF afterwards and may even venture eventually into Solana and Polygon.
Charles Hoskinson to Level the Foundation Grounds of Cardano The Coin Republic
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The Switzerland-based Cardano Foundation, which is charged with developing the Cardano ecosystem and its ADA cryptocurrency, just announced a major addition to its leadership team. As the Foundation continues to scale up its operations, changes are bound to happen if the organization wants to succeed.
Open Source Developer And Asian Finance Sector Star Joins The Leadership Team
The new change comes to its leadership team. The Cardano Foundation announced the newest member of its Board of Directors, Fernando Luis Vasquez Cao, in a Thursday press release. His professional career has been both diversified and quite impressive.
Fernando worked at Japanese telecom giant NTT, straight out of college. After spending over 10 years there, he joined SBI where he held several leadership positions.
He will bring over 20 years of experience to the board in sectors such as governance, regulation, open-source technology, fintech, and capital markets. Given he was in Japan for the majority of his career, Fernando has unique knowledge of the Asian financial services sector, which could give Cardano a real advantage in the Asian markets.
Fernando’s appointment comes at a time when the Foundation is expanding its core operations to bolster crucial infrastructure and enterprise markets. The Enterprise Technology department of the Foundation is responsible for ensuring Cardano’s crucial infrastructure needs are satisfied to the best standards.
Cardano Foundation CEO Frederik Gregaard had this to say regarding the addition of Fernando to the board:
“The board plays an integral role in providing guidance and oversight for the Cardano Foundation. Fernando has a distinguished track record in business and software development and his expertise adds another layer to our prestigious board… He will be an invaluable asset to us as we continue to advance our efforts and scale our operations.”
With Fernando joining, the Foundation now has a four-person board of directors. He will be sitting alongside Mary Beth Buchanan, Andreas Eschbach, and Jillian MacNab who all have a diverse range of expertise.
Cardano’s Bright Future
Like Ethereum, Cardano is a blockchain that supports smart contract capability. Cardano promises better scalability, cheaper fees, and a higher transaction throughput than what the second-largest cryptocurrency currently offers.
Yet, critics abound. Mike Novogratz, for instance, told Yahoo Finance’s Zack Guzman last year that the Cardano community has “done something to create this weird cult”. Earlier this month, a partner at Placeholder, Chris Burniske, dismissed ADA as “vaporware”.
ADA has continued to thrive despite skepticism about its utility from these big industry names. According to a report recently published by the research team at Kraken cryptocurrency exchange, 2022 could prove to be Cardano’s best year yet as it looks poised to be the leading Layer 1 blockchain in the market.
With a market capitalization of just over $33 billion, Cardano is currently the industry’s seventh-most valuable network. If the flurry of activity around the blockchain and Fernando’s appointment are any indication, Cardano is looking at a very bright future ahead.
Source: https://zycrypto.com/ada-set-to-conquer-new-grounds-after-big-leadership-addition-at-cardano-foundation/
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