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Ignite Becomes Independent Entity Alongside NewTendermint

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Today’s Cryptocurrency Headline

Ignite, the Cosmos development company, will be split into Ignite and NewTendermint. Ignite co-founder Jae Kwon will be the CEO of NewTendermint. Peng Zhong, the current CEO of Ignite, will continue to serve as the CEO of the restructured Ignite. Ignite and NewTendermint said the two companies will be fully independent, with Ignite continuing to focus on the development of its flagship product Emeris Portfolio Manager and the Ignite CLI developer toolkit. NewTendermint will focus on the development of core blockchain infrastructure, including Tendermint Core, Cosmos SDK and smart contract platform Gno.land.

BingX’s Bitcoin Chart

Source: TradingView & BingX

According to BTC.com, the Bitcoin mining difficulty was lowered by 4.33% to 29.90T at block height 737856, the largest drop since August 2021. Bitcoin is down 2.5% over the last 24 hours and fell to an intraday low of $28,000.00. The relative strength index (RSI) on the daily chart is moving from oversold levels, but it is still below the 50 neutral mark. The cryptocurrency remains in a tight trading range over the last few days, suggesting the price has been consolidating in the $28K-$30K zone. If bears manage to push the price below this zone, a deeper drop towards $24K and even towards the $20K level could be expected.

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