Frontier narxFRONT

the only reason why this can be a local bottomon #btc is price hit equilibrium of gap on the monthly chart + front running short TP's otherwise why price would not come to 70k target?

A controversial tax rule proposed by the U.S. Internal Revenue Service, requiring decentralized finance brokers to report crypto transactions, could be overturned as lawmakers have pushed to repeal it. On Feb. 26, U.S. House Representatives advanced a resolution to scrap the rule, with the House Ways and Means Committee voting 26-16 in favor of the repeal. The resolution now moves to the full House for a vote. If it passes, the Senate will then decide its fate. A successful Senate vote would send the measure to President Donald Trump, who can either sign it into law or veto it. However, if it is not overturned, the rule will take effect on January 1, 2027. The “DeFi broker rule,” proposed by the IRS in August 2023 and officially finalized in January 2024, would require certain DeFi operators—including front-end service providers for decentralized exchanges—to collect and report user transaction data, including gross proceeds from crypto sales. According to the IRS, it would “level the taxpayer playing field” by applying the same standards as traditional finance institutions. However, industry leaders see it differently. Critics like Ways and Means Committee Chairman Jason Smith argue the rule is unworkable for DeFi, where platforms often operate without centralized control and do not collect user data by design. Commenting on the development, Miller Whitehouse-Levine, CEO of the DeFi Education Fund, welcomed the decision to repeal the rule, arguing that the rule represents an “unlawful and unconstitutional overreach” that undermines the financial privacy of Americans and stifles innovation in decentralized finance. DeFi advocates have previously raised concerns about privacy implications. Some fear platforms like Uniswap could be required to collect user identities, contradicting the fundamental ethos of decentralized finance. Others, like Consensys attorney Bill Hughes, see it as a last-minute attempt by the previous administration to clamp down on crypto before leaving office. A day after the IRS finalized the rule on December 27, Kristin Smith, CEO of the Blockchain Association, called it “unconstitutional” and warned that it could push crypto innovation offshore. Texas Blockchain Council President Lee Bratcher echoed this concern, saying compliance is “practically impossible” for many in the decentralized space. The Blockchain Association, DeFi Education Fund, and Texas Blockchain Council have already sued the IRS , claiming the rule would force DeFi developers to comply with regulations they simply can’t implement. Despite the controversy, the IRS remains firm. In a joint statement with the Treasury, the agency dismissed arguments that DeFi should be exempt, saying, “Persons with technology expertise that operate trades or businesses relating to financial services should comply with the same rules as any other person operating financial services businesses.”

Cardano (ADA) is showing significant signs of reclaiming the psychological price of $1 if it follows in the footsteps of BNB. Renowned market analyst Ali Martinez acknowledged, “If BNB is front-running the market, we should expect a similar price action for Cardano.” Source: Ali Martinez Therefore, if this analysis is successful, ADA will return to the $1 price level. With its uniqueness tied to its proof-of-stake (PoS) consensus mechanism called Ouroboros, Cardano verifies transactions by splitting them into smaller epoch chains, making the network infinitely scalable. As a result, Cardano has become one of the sought-after blockchains in terms of development. Is Cardano’s Parabolic Rally on the Horizon? According to Martinez, Cardano might be experiencing the calm before the storm since, based on historical data, the ninth-largest cryptocurrency has all it takes to surge to the $15 zone. The analyst pointed out, “Looking back at history, Cardano seems to be repeating the same pattern from 2020 to 2021 at a slower pace, which could soon lead to a parabolic rally.” Source: Ali Martinez Martinez added that if ADA is able to sustain a close above $0.73, then the altcoin is in for an upswing. At the time of writing, Cardano was hovering around the $0.782 zone, according to CoinGecko data. Meanwhile, Cardano founder Charles Hoskinson recently suggested using the network as an audit layer for the U.S. Treasury’s $7 trillion budget.

🚨 Smart whale move? 🐳💰 In the past 2 hours, 3 wallets (likely the same whale) just spent 39.85M $DAI to buy 16,114 $ETH at $2,473! 🚀 🔄 Previously, they sold 7,227 $ETH ($23.46M) at $3,246 on Jan 13. Now, they’re buying back cheaper! 🧠💎 Are they front-running the next #Ethereum rally? 👀🔥 #ETH #Crypto #WhaleMoves

The effects of large-scale crypto holders were seen in the last 24 hours before the Bybit saga weighed on sentiments. XRP whales purchased large amounts of tokens as altcoins flipped green. Institutional investors maintain their interest in XRP, citing cross-border solutions and a possible spot ETF approval in the United States. At press time, the total crypto market capitalization stood at $3.19 trillion. Whales Back XRP Growth In the last 24 hours, a group of whales scooped over $20 million worth of XRP, leading to an uptick in hourly trading volume. This follows similar trends in altcoins as bulls aim for a rebound before the end of the month, known for positive growth in altcoins. After a string of bullish activity, the asset ticked up 2% within hour,s taking down hourly numbers. However, these gains were short-lived because of the wider market downturn and the infamous Bybit scandal that wiped over $1.4 billion from the market. This week XRP holders showed enthusiasm after the approval of the first spot XRP ETF in Brazil sending positive signals to the United States market. Amid several applications for ETF products, crypto users rally behind XRP due to its institutional interests. According to Bitwise’s CEO, the chances of approval remain high. “I would say two things on things up front… I think there’s substantial demand for an XRP ETF. XRP has had a sustained community for extremely long period of time. It’s an asset that trades significantly on centralized exchanges. I think people would love to find a way to hold it in a simple low-cost easy-to-use ETP structure. And I would say the second piece is the SEC much more receptive to discussion under the new administration than they were in the past.” Traders Move To Altcoins Amid Cycle Swing Upward momentum in XRP led to similar trading patterns in a slew of altcoins. This was also fueled by the CryptoQuant CEO’s view on an altcoin season. For Ki Young Ju, the altcoin season has started as stablecoin holders back the asset. Although there is no capital rotation, Young Ju stressed that BTC dominance doesn’t reflect the trend anymore as it’s a “selective alt season.” Ethereum price also ticked up in hourly trading, showing signs of a strong rebound when the market flips green. Meme coins followed the same trajectory before the negative sentiment occasioned by the Bybit hack.