Alien Worlds GameFi Surging Back To Top of Rankings – Crypto World Headline

Nov 1

The Alien Worlds metaverse ends the month of October atop the GameFi rankings among all blockchains and looks set for a strong winter..

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A revolutionary idea: Here's how the Bitcoin white paper is impacting millions of lives 14 years on – Crypto World Headline

Nov 1

BTC_whitepaper

When Satoshi Nakamoto released the Bitcoin white paper on this day in 2008, they proposed a novel system for a global digital form of money. The leaderless, nonpartisan network of Bitcoin nodes now maintains a truly borderless and permissionless monetary system.

Since the very first Bitcoin block was created in the wake of the 2008 global financial crisis, the Bitcoin protocol has revolutionized the very concept of money. With Bitcoin, it isn't up to a small cabal of politicians and bureaucrats to decide how much money circulates, or who gets access to the monetary system.

To understand the importance of the white paper, let's explore some situations where decentralized currencies have proven their worth. Earlier this year at Bitcoin 2022, activist Yeonmi Park pulled up a satellite image of her home country, North Korea. The photo showed two swathes of light surrounding an island of darkness.

"You see that there's a black hole between South Korea and China?" she said. "That's where I was born; I was born in complete darkness."

Yeonmi, a North Korean defector whose family fled to China in 2007, was part of a panel discussion moderated by Human Rights Foundation's chief strategy officer Alex Gladstein. She shared the stage with other activists as they discussed Bitcoin's ability to provide financial freedom to people living under authoritarian rule.

During the panel discussion, Yeonmi recounted a time when the bank restricted access to her bank account, locking away her family's life savings in the process. Yoenmi and her family turned to hiding the little cash they had in their own home. She explained that her family's savings weren't safe even when the cash was kept hidden away in pots and under floorboards. They were, in fact, afraid to hold and save cash.

To Yeonmi and her family, fiat currency had always been a means for the North Korean government to exercise control over its people.

Could Bitcoin be the answer?

The oppression Yoenmi and her family faced in North Korea isn't uncommon and the fight for the right to access financial services continues to be an uphill battle for many disenfranchised communities around the world.

In 2017, Economists Hanan Morsy and Hoda Youssef set out to investigate the inner workings of financial inclusion (and exclusion) vis-a-vis gender. Their seminal paper, Access to Finance – Mind the Gender Gap took a closer look at the underlying factors that disproportionately prevented women from accessing financial services and participating in financial markets.

Their findings suggested gender bias in financial services existed in 79% of the 141 countries studied. They went on to explain that women's access to finance seemed to be directly correlated to the strength of the legal rights bestowed on them by their governments. Some countries still require women to obtain their spouse's permission to open a bank account.

Bitcoin and other cryptocurrencies offer an alternative. The technology Satoshi created nearly a decade and a half ago has upended the status quo and given many of those who felt their lives were hopeless a new hope.

And it's working.

The struggle continues

As the inability to participate in the monetary system continues to plague a large portion of the world today, Bitcoin is becoming an increasingly attractive option for those hoping to take back control of their wealth and free themselves from the existing financial system.

In June this year, The United Nations Conference on Trade and Development (UNCTAD) published Policy Brief No. 100 outlining their recommendations for cryptocurrency regulation. In the report titled, "All that glitters is not gold: The high cost of leaving cryptocurrencies unregulated," the UNCTAD stated that developing countries made up 15 of the 20 economies with the highest share of the population that owns cryptocurrencies.

The UNCTAD, which was established by the United Nations General Assembly in 1964 to promote the interests of developing nations in world trade, explained why individuals from these countries found cryptocurrency so useful:

"First, the use of cryptocurrencies was an attractive channel, in terms of price and speed, through which to send remittances. During the pandemic, the already high costs of traditional remittance services rose even higher during lockdown periods due to related disruptions.

Second, cryptocurrencies, as part of financial investments and speculation, are mainly held by middle-income individuals in developing countries and, particularly in countries facing currency depreciation and rising inflation (triggered or accentuated by the COVID-19 crisis), cryptocurrencies have been perceived as a way to protect household savings."

Despite acknowledging the ways Bitcoin and other cryptocurrencies were improving the lives of people in developing nations, the policy brief reported that they undermined capital controls. UNCTAD then recommended extreme measures that would ultimately deter individuals from using the tools that could improve their ability to trade internationally and protect themselves from currency depreciation. Their recommendations included banning crypto exchanges from advertising in public spaces and barring regulated financial institutions from offering crypto-related products to clients. Fortunately, crypto's decentralized core helps it route around this damage if and when the need arises.

Spearheading global adoption

Since our inception, Kraken has remained committed to driving crypto adoption and empowering the individual. We believe that everyone should have the means to protect their money from government overreach and transact globally with ease. Bitcoin is already making it happen for millions around the world.

As we celebrate Bitcoin White Paper Day, we're also acutely aware that billions of people continue to struggle to access financial services today. Never in history has a tool like Bitcoin been more vital.

These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell or hold any cryptoasset or to engage in any specific trading strategy. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position.

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Coinbase submits amicus brief in Ripple case – Crypto World Headline

Nov 1

Crypto exchange Coinbase filed for permission to submit a brief in the ongoing case between the Securities and Exchange Commission and Ripple Labs, saying the lack of clarity in crypto enforcement actions is putting U.S. exchanges at a disadvantage.

Coinbase argues in its brief that the Constitution lays out that government agencies must give "fair notice" that conduct is illegal before taking action. In other words, the public must have a way of knowing the activity is illegal before the SEC can bring an enforcement.

The exchange filed a motion to submit an amicus curiae brief, and if approved, the accompanying document would be taken into account as the court weighs its decision. Both Ripple and the regulator recently moved for summary judgment, asking a judge to make a decision based on the agreed-upon facts rather than sending the case to trial.

The Coinbase amicus brief joins other attempts from the crypto industry to give context to the case, including a recent motion from The Blockchain Association as the SEC has yet to provide clear regulation for a fast-growing industry. Coinbase has repeatedly called for specific SEC rulemaking for crypto, petitioning the regulator in July.

The SEC first brought the case in 2020 when it alleged Ripple's XRP token constituted an unregistered security offering. The brief supports a part of Ripple's defense that claims the SEC failed to give adequate notice that XRP issuance and trading constituted illegal activity.

Coinbase claims the SEC sued XRP token sellers after allowing XRP to trade for years. The exchange says the regulator made public statements that longstanding tokens were not considered securities. Coinbase urges the court to deny the SEC's request for summary judgment on the grounds that a lack of rulemaking and the alleged mixed signals failed to give fair notice.

Additionally, the firm argues that those trying to be compliant incur significant losses over the SEC's lack of clarity. When the SEC brought its allegations against Ripple's XRP token, many platforms halted XRP trading and caused the price to drop, harming Coinbase customers.

"The absence of formal rulemaking has led to unexpected enforcement actions like this one that create market uncertainty and profoundly disadvantage U.S. trading platforms like Coinbase as they compete with offshore platforms in jurisdictions where there is no risk of regulatory enforcement surprise," the brief said.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Bitcoin miner Argo fails to raise $27M in funding – Crypto World Headline

Nov 1

London-based Bitcoin mining group Argo Blockchain's plan to raise $27 million from a strategic investor has failed to take place.

The London Stock Exchange today published a press release notifying that Argo no longer believes that this subscription would be consummated under the previously announced terms.

On 7 October, Argo had signed a letter of intent (LOI) to sell 87 million shares worth $27 million (£24 million) to an investor in order to resolve its liquidity pressures.

Multiple challenges before the mining industry

The mining industry is facing a crisis of existence as it confronts rising energy prices and sluggish value of cryptocurrencies. In addition, lawmakers and environment advocacy groups have continued to argue for stronger measures to be taken to contain harmful effects of mining.

Compute North, a leading crypto-mining data center, filed for bankruptcy in a U.S court on 22 September. The company owed as much as $500 million to at least 200 creditors as it filed its papers. However, this step wouldn't affect the mining operations of the unit, the company stated.

Last week, the world's largest Bitcoin mining company, Core Scientific (CORZ), warned that the unit might consider filing for bankruptcy in the court if it fails to improve its financial condition. Its shares fell down by 77% to as low as 23 cents as soon as the news emerged.

"Substantial doubt exists about the company's ability to continue as a going concern for a reasonable period of time," it said in a filing.

Global energy consumption due to Bitcoin mining mirrors Bitcoin's price. The current drop in the price is also reflected in the fall of related energy consumption. As we can see, the energy consumption follows the same patterns as that of BTC's price.

Source: BitcoinEnergyConsumption.com

The simple reason for this trend is the supply-demand rule of the market. As crypto prices keep soaring, miners are motivated to extensively mine coins. It leads to greater prices of mining hardware as more and more people join the mining community. A sustained slump in the market, on the other hand, forces miners to abandon the process and liquidate their operations.

A number of U.S lawmakers are very critical of the effects of crypto-mining on the environment. Massachusetts Senator Elizabeth Warren, in particular, has been critical of its enormous energy consumption. During a Senate Banking Subcommittee hearing last year, she called for cracking down on "environmentally wasteful" cryptocurrencies in order to combat climate crisis.

"Bitcoin requires so much computing activity that it eats up more energy than entire countries," she added.

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Monster Era Officially Launches Mainnet Nov 1 – Crypto World Headline

Nov 1

After more than one month since the September 15 $HUB token listing on MEXC, Monster Era has announced that Mainnet will be on November 1, 2022, at 6 PM UTC+7.

November 1 Mainnet

The GameFi market is proving its dramatic development with countless high-quality games highly valued by experts as well as the user community around the globe, and Monster Era is a leading one among those.

The Monster Era user community is excited ahead of the launch as the game brings about easily approachable, entertaining, and trendy gameplay. In addition, after three times of strict testnet, Monster Era is ready to officially present an optimum and complete Mainnet version to its over 12 000 users at 6 PM UTC+7 on November 1.

Monster Era will be the first game to appear in the forthcoming Hubgame platform. With a huge investment from large funds, the Hubgame platform is expected to have a presence with more than 50 different games. Find more information here.

With Monster Era, users can enjoy a better ROI, resulting in an enhanced GameFi experience. For instance, users can get a payback for investing in a team party with 5 Pets NFT after only 22.5 days or can even make more valuable profits.

In preparation for the release of the Mainnet version on November 1, the Monster Era team has kicked off many attractive events with $15 000 and gifts, including Box, NFT, and Token.

Lucky Eggs Event – Easy-to-play-easy-to-win (October 29 - November 11)

- Objects: All users

- Rule:

Step 1: Access the website https://monsterera.io/luckyeggs to join the event

Step 2: Connect your Wallet

Step 3: Complete daily quests to receive turns

+ Daily login gets 1 turn (0/1)

+ Share Landing gets 2 turns (0/2)

+ Join Telegram Group: 1 turn (0/1)

+ Invite 5 friends to get: 2 turns (0/2) (Maximum 2 turns per day but unlimited number of invites)

Step 4: Click "Play now" to proceed to pick up your favorite lucky egg

When the player picks up the egg, they will randomly receive 1 of 8 huge gift packages or "Good luck next time".

- Gifts:

+ Token: $HUB Token is the primary "earning" and "spending" in-game token of the Monster Era

+ Upgrade Box: 30 000 Exp Stone + 88 888 Gold

+ Evolution Box: 2 000 Evolution Stone + 66 666 Gold

+ Magic Box: 2 222 Magic Dust + 68 686 Gold

+ Summon Box: 2 Silver Orb + 1 Golden Orb

+ NFT Mythical boxes contain a random Pet NFT from a collection that will be revealed when you open the box. You can open the box at http://hubgame.io

+ Box opening rate:

Rare eggs: 70%

Super rare eggs: 30%

Apart from quick hands and sharp eyes, the user's luck is also a key factor in determining how many valuable gifts they will have.

Arena Top Race Season 1

You can also choose to fight in intense strategic battles with other users through "Arena top race Season 1" event from 6 PM on November 1 to 11:59 PM on November 20.

It is an event for all users of Monster Era. Users start joining to experience in-game Arena features. After every match win against rivals, users will get bonus points, and minus points if they lose. The top 500 users with higher scores will receive the following gifts:

Users should invest to buy NFT in order to have a strong team party that has a competitive advantage in the Arena Top race Event.

Monster Era, during the Testnet stage, has kept its promise by bringing unforgettable experiences to the user community and making remarkable accomplishments, including:

- More than 12 000 users around the world

- More than 72 000 accounts signed up for the Arena ranking event

- More than 600 accounts active daily

- More than 2 000 applications for downloading

- More than 4 000 Testnet boxes sold

Overview of Monster Era

Monster Era is a free NFT game in blockchain with match-3 puzzles and RPG gameplay.

-Easy to play and make money in 2 minutes

-Users can freely experience all in-game features

- Integrated with Fiat

-Free users can mint Non-NFT Monster into NFT

-Assured ROI for users and limit the possibility of earning Token of Monster with Energy feature

- Evolution feature helps burn Monster

-The gameplay helps users create their own playing style

-Users can receive in-game resources passively with Campaign Treasure feature

Monster Era is simply a fantastic puzzle game for everyone.

For more information about Monster Era, visit the following links:

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Introducing the Decentralized Storage Alliance

Nov 1

Learn how Seagate, EY, and AMD, are working with Protocol Labs and Filecoin Foundation to accelerate the adoption of decentralized storage by enterprises

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Fed Could Hike Interest Rates By 75 BPS, Here's What It Means For Bitcoin – Crypto World Headline

Nov 1

The FOMC meeting is currently looming above the financial markets, including bitcoin, given that it is just a few days away. Previous interest rate hike trends and the fact that inflation remains a prominent threat have led to a negative outlook for the FOMC meeting. It is expected that another Fed interest rate hike is on the horizon, which will no doubt have a profound effect on the crypto market.

FOMC Meeting Draws Near

The next FOMC meeting will take place on November 1-2 according to the official schedule. It happens around once every one to two months and is important as this is where the Fed decides what to do in regard to the economy and keeping it healthy.

Unlike the previous years, 2022 has been a very hard year, not just for the United States economy, but for economies all around the world. Inflation rates have been reaching levels not seen in decades and the Fed has had to tighten up its policy in response to this.

Interest rate hikes have been the norm for the last couple of months, in most cases, coming in higher in most cases than expected. This time around, Wu Blockchain has said that the expected interest rate hike is 75 BPS, with an 81% probability of this happening. If it does play out this way, then this would be the fourth consecutive interest rate hike of 75 bps by the Fed, which could have negative consequences for assets in the crypto space such as Bitcoin.

On November 2 next week, the United States will announce the Fed Interest Rate Decision, and the probability of raising interest rates by 75bps is currently 81%. The U.S. unemployment rate for October will be released on November 4. https://t.co/nGgrVQN0to

— Wu Blockchain (@WuBlockchain) October 31, 2022

How Will Bitcoin Respond?

The past performances of bitcoin in relation to interest rate hikes by the Fed can often be a guide for what to expect in the future. If the current prediction for another 75 bps turns out to be right, then it will be an extremely volatile week for bitcoin and the crypto market.

Bitcoin price chart from TradingView.com

BTC continues to trend upward | Source: BTCUSD on TradingView.com

Back in September when the Fed had last increased interest rates, the price of bitcoin had responded quite negatively. In fact, it would prove to be the most volatile reaction to the FOMC meeting given that BTC's price had dropped more than 5% in one minute. This was going off a three consecutive interest rate hike.

Another interest rate hike this week is expected to lead to even larger volatility in the market. This will also coincide with the profit-taking that is currently ongoing due to bitcoin's recovery above $20,000. It could be the last straw that drags the digital asset back below $20,000 once more.

However, the interest rate hikes are not expected to continue indefinitely. It is likely that 2023 is going to see a reversal in this trend, which would present a growth opportunity for risk assets such as biotin.

Featured image from Coinews, chart from TradingView.com

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

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Nigeria's Central Bank Doubles Down on Plans to Introduce Newly Designed Naira Banknotes – Economics Bitcoin News – Crypto World Headline

Nov 1

The Nigerian central bank was, on Oct. 29, forced to defend its controversial currency redesign plans, just a few days after they were publicly questioned by Nigerian Finance Minister Zainab Ahmad. The central bank insists the move is long overdue and urged Nigerians "to support the currency redesign project which is in the overall interest of every citizen of the country."

President Muhammadu Buhari's Written Approval

The Central Bank of Nigeria (CBN) has insisted its recently announced plan to issue newly designed naira banknotes is above board and "12 years overdue." In an apparent rebuke of Nigerian Finance Minister Zainab Ahmad, who has publicly questioned the plan, the central bank said it had "obtained the approval of President Muhammadu Buhari in writing to redesign."

Addressing lawmakers a day after the CBN's surprise announcement, Ahmad reportedly said she had not been consulted and therefore could not comment "on it as regards merits or otherwise." As recently reported by Bitcoin.com News, the CBN's plan to introduce newly designed naira banknotes is thought to have sparked the local currency's parallel market exchange rate plunge, where it tapped a new all-time low versus the dollar of N781:$1.

Opponents of the CBN's controversial plan insist that going ahead with the move could see the naira-to-dollar exchange rate fall to as low as 1000 naira per dollar by the end of January 31, 2023. However, in a defiant statement issued on Oct. 29, 2022, the CBN asked Nigerians to support the currency redesign policy.

"The CBN urges Nigerians to support the currency redesign project which is in the overall interest of every citizen of the country. The hoarding of significant sums of banknotes outside the vaults of commercial banks should be discouraged by anyone who means well for the country," the central bank said.

Currency Redesign a Global Standard

The CBN added that it had "tarried for too long considering that it had to wait 20 years to carry out a redesign." The statement also repeats the bank's earlier claims that the circulation of the redesigned naira is a standard practice globally that must be carried out every five to eight years.

The planned injection of new 100, 200, 500, and 1,000-naira banknotes into circulation is set to commence on December 15. Nigerians are expected to return the old notes by the end of January 2023. While critics of the currency redesign plan have called on the CBN to extend the deadline or drop the plan altogether, the latest local reports quote President Buhari expressing his support for the move.

Register your email here to get a weekly update on African news sent to your inbox:

What are your thoughts on this story? Let us know what you think in the comments section below.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Report: Uniswap Not Immune To Massive Rugpulls – Crypto World Headline

Nov 1

The percentage of rugpulls on Uniswap is a staggering 97%+! This is a fantastic reminder to Do Your Own Research. (Yes, this means you!).

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GMX is Trading -18.45% Below Our Price Prediction for Nov 05, 2022 – Crypto World Headline

Nov 1

GMX is Trading -18.45% Below Our Price Prediction for Nov 05, 2022

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

GMX is up 3.08% today against the US Dollar
GMX/BTC increased by 4.54% today
GMX/ETH increased by 4.94% today
GMX is currently trading 18.45% below our prediction on Nov 05, 2022
GMX gained 5.51% in the last month and is up 18.35% since 1 year ago

GMX price	$ 42.59
GMX prediction	$ 52.23 (22.63%)
Sentiment	Bullish
Fear & Greed index	31 (Fear)
Key support levels	$ 40.24, $ 39.12, $ 37.47
Key resistance levels	$ 43.02, $ 44.67, $ 45.80

GMX price is expected to rise by 22.63% in the next 5 days according to our GMX price prediction

GMX price today is trading at $ 42.59 after gaining 3.08% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 1.35% in the same time period. GMX performed well against BTC today and recorded a 4.54% gain against the world's largest cryptocurrency.

According to our GMX price prediction, GMX is expected to reach a price of $ 52.23 by Nov 05, 2022. This would represent a 22.63% price increase for GMX in the next 5 days.

GMX Price Prediction Chart

Buy/Sell GMX

What has been going on with GMX in the last 30 days

GMX has been displaying a positive trend recently, as the coin gained 5.51% in the last 30-days. The medium-term trend for GMX has been bearish, with GMX dropping by -2.00% in the last 3 months. The long-term picture for GMX has been positive, as GMX is currently displaying a 18.35% 1-year price change. On this day last year, GMX was trading at $ 35.99.

GMX reached its all-time high price on Jan 16, 2022, when the price of GMX peaked at $ 62.10. The current GMX cycle high is $ 61.25, while the cycle low is at $ 11.60. GMX has been displaying low volatility recently – the 1-month volatility of the coin is at 9.12. GMX recorded 15 green days in the last 30 days.

GMX technical analysis for today - Oct 31, 2022

The sentiment in the GMX markets is currently Bullish, and the Fear & Greed index is reading Fear. The most important support levels to watch are $ 40.24, $ 39.12 and $ 37.47, while $ 43.02, $ 44.67 and $ 45.80 are the key resistance levels.

Bullish sentiment for GMX

23 indicators are currently signaling a bullish prediction for GMX, while 3 indicators are showing a bearish forecast. With 88% of indicators favoring a positive prediction. This results in an overall Bullish sentiment for GMX.

Crypto market is currently experiencing Fear

Currently, the Fear & Greed index is at 31 (Fear), which signals that investors have a negative outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A "Greed" reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A "Fear" reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

GMX moving averages & oscillators

Let's take a look at what some of the most important technical indicators are signaling. We'll be going through key moving averages and oscillators that will allow us to get a better idea of how GMX is positioned in the market right now.

Period	Daily Simple	Daily Exponential	Weekly Simple	Weekly Exponential
MA3	$ 42.39 (BUY)	$ 41.37 (BUY)	-	-
MA5	$ 41.71 (BUY)	$ 41.76 (BUY)	-	-
MA10	$ 38.92 (BUY)	$ 40.32 (BUY)	-	-
MA21	$ 38.20 (BUY)	$ 39.40 (BUY)	$ 34.81 (BUY)	$ 37.56 (BUY)
MA50	$ 40.61 (BUY)	$ 39.92 (BUY)	$ 32.39 (BUY)	$ 33.60 (BUY)
MA100	$ 40.57 (BUY)	$ 38.48 (BUY)	-	-
MA200	$ 32.00 (BUY)	$ 35.38 (BUY)	-	-

Period	Value	Action
RSI (14)	53.39	NEUTRAL
Stoch RSI (14)	85.09	SELL
Stochastic Fast (14)	67.75	NEUTRAL
Commodity Channel Index (20)	66.67	NEUTRAL
Average Directional Index (14)	28.58	SELL
Awesome Oscillator (5, 34)	1.61	NEUTRAL
Momentum (10)	8.10	NEUTRAL
MACD (12, 26)	0.86	NEUTRAL
Williams Percent Range (14)	-32.25	NEUTRAL
Ultimate Oscillator (7, 14, 28)	50.13	NEUTRAL
VWMA (10)	40.15	BUY
Hull Moving Average (9)	42.63	SELL
Ichimoku Cloud B/L (9, 26, 52, 26)	46.04	NEUTRAL

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for GMX is at 53.39, suggesting that GMX is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of GMX over the last 50 days. Currently, GMX is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that's calculated by taking an average of the GMX closing price for the last 200 days. GMX is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this GMX prediction

After considering the above factors, we can conclude that the current forecast for GMX price prediction is Bullish. GMX would have to increase by 22.63% to hit our $ 52.23 target within the next five days. Moving forward, it will be important to monitor the GMX market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term GMX price predictions click here.

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Decentralized Storage Alliance seeks to bridge the Web3 gap through education and advocacy

Nov 1

The organization said that it intends to promote awareness and adoption of decentralized technologies, such as Filecoin, IPFS and Libp2p.

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Author: Cointelegraph By Judith BannermanQuist

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Reflecting On Satoshi Nakamoto's Manifesto, The Bitcoin White Paper

Nov 1

14 years later, Bitcoin has shown its strengths — and that it still has a long way to go to achieve its original goals.

This is an opinion editorial by Archie Chaudhury, a blockchain enthusiast and previous winner of top prize at the 2021 MIT Bitcoin Expo.

When Satoshi Nakamoto first published the Bitcoin white paper in October of 2008, the world was reeling from a financial crisis caused by the irresponsibility and negligence of the institutions that controlled our financial system. Hedge funds, central banks and other powerful agents had been all too happy to place over-leveraged bets on the economy, and to profit from the economic losses incurred by the working class when these bets collapsed.

Governments, in a desperate attempt to keep these institutions alive, spent hundreds of billions of dollars in bailouts and other monetary injections instead of ensuring the well-being of the average citizen. Bitcoin was Satoshi Nakamoto's answer to state-backed money; it was a vision for a decentralized digital currency that could provide the efficiency of online banking, the relative pseudonymity of physical cash, and the scarcity of gold.

Unlike previous attempts at creating digital cash, Bitcoin was not backed by or controlled by a singular entity or party, but rather by an anonymous developer (developers?), a set of faceless forum visitors and a small online community that believed in using cryptographic software for privacy and independence from authoritarian powers. Nakamoto's ultimate goal was to create an asset that was autonomous, decentralized and was not susceptible to the greed or will of any one individual. October 31, the day Satoshi Nakamoto formally announced their white paper to the Cypherpunks Mailing List, has come to be known as "Bitcoin White Paper Day" and is celebrated as an informal declaration of independence from corrupt state-backed money, heard across the world. The purpose of this article is to reflect on how far we have come since then, and how much work remains to be done in order to accomplish Nakamoto's goals.

The Bitcoin that we use today is vastly different from the Bitcoin that Satoshi Nakamoto and his fellow contributors created in the late 2000s and early 2010s. Beyond the numerous technical upgrades and hard forks, the network itself has grown significantly, with more and more people taking the proverbial "orange pill" and deciding to use bitcoin in some capacity.

There is another way in which Bitcoin has changed: the core network, and asset (BTC), is thought of more as a store of value rather than a platform for micropayments. Indeed, there was a significant cultural schism within the Bitcoin community that led to this change: the famous, and aptly titled, "Blocksize Wars" approximately five years ago led to this change, with forks such as Bitcoin Cash and later Bitcoin SV being created by community members who believed in scalability over all else, and the core Bitcoin chain being upheld by members who sought to preserve decentralization and to look at alternative methods such as Layer 2 payment channels to support scalability. The Lightning Network, which is the most popular payment channel, has slowly gained popularity, recently reaching a capacity of 5000 bitcoin.

Despite these changes, the core technological tenets espoused by Nakamoto in 2008 (Nakamoto Consensus with proof-of-work mining and a static maximum supply of 21 million) remain constant. This is not solely because of a technological or economic reason; in fact, it has been argued that changing Bitcoin's underlying consensus mechanism or supply cap could lead to increased performance and adoption respectively. Rather, Bitcoin's consistency in these areas can be attributed to the philosophy of its underlying community, who believe strongly in scarcity, security and decentralization over all else.

Meanwhile, bitcoin is being used by people around the world to stave off unruly economic conditions. Bitcoin's natural scarcity makes it attractive for citizens where corruption has led to unrestricted inflation. This adoption has even led some governments, such as El Salvador, to declare bitcoin a national currency, a move that would have been unfathomable to Nakamoto and Bitcoin's original contributors.

Perhaps the most interesting thing to take from Bitcoin's progress over the past couple of years is that it has happened without a central leader: unlike alternative assets that are more akin to decentralized software platforms, bitcoin functions purely as money, with key "policy" decisions being made by a community. There is no Bitcoin organization or representative solely responsible for promoting adoption, nor is there a central "chief scientist" that has a significant impact on key protocol-level decisions. While there are certainly major influences within the community, the protocol as a whole does not have an organizational structure to lead either adoption or development. In fact, Bitcoin's lack of hierarchy should be a goal for other distributed ledger projects who, while perhaps decentralized to a certain degree, are still largely influenced by a singular entity or individual.

While Bitcoin has certainly grown from its humble beginnings as a white paper and a couple hundred lines of scrappy code, it still has a long way to go if it is to achieve the ambitious goals discussed by Nakamoto and other early adopters in their email chains and forum posts. From a technical standpoint, the Bitcoin community needs to continue building technology that not only enables further scalability and security, but perhaps more importantly, also helps make the network more decentralized. One of the most staunch mottos that Bitcoin community members have adopted is the term "Don't trust, verify." This is, of course, in reference to running a full Bitcoin node and not relying on data from external third parties, such as node providers. Network optimization, rollups, and other scalability research has been proposed by various individuals in the Bitcoin community as a way for the network to simultaneously scale while decreasing the cost it takes to run a full node. A recent report, published by John Light through research funded by the Human Rights Foundation, Starkware and CMS Holdings, provides more detail about rollups-related scalability research.

Despite its roots in technology, Bitcoin has evolved over the years to become something more: it is now a community, a network, if you will, of like minded-individuals who all have some varying degrees of belief in a singular idea. Bitcoin is no longer a software, privy to only developers, coders or those with a highly technical background, and this marked shift should also signal additional non-technical priorities for the Bitcoin community to address over the next decade.

More effort needs to be spent on educating the general public and making them aware of not only Bitcoin's technology, but also the failures of the legacy financial systems that they use today. More effort needs to be spent not only on touting bitcoin's economics and technology, but also drawing on distinctions between bitcoin and other cryptocurrency platforms. Finally, more effort needs to be made among the cryptocurrency community as a whole to come together when the fundamental principles that Satoshi Nakamoto and his fellow cypherpunks believed in are threatened by authoritarian governments, regardless of the platform that is being attacked.

While discussions around varying blockchain networks have always been tribalistic to a degree, the recent trend has been to promote the success of your platform over all else, and even chide or insult platforms who face potential regulatory scrutiny. While believing that bitcoin is the most sound digital asset in terms of economics/construction, and getting into arguments about said belief is okay, and should even be encouraged, celebrating when an alternative platform is threatened with regulatory action or censorship goes against what Bitcoin is fundamentally all about.

The cypherpunks, Satoshi Nakamoto and a majority of Bitcoin's community all believe in the idea that one day, there can be a digital peer-to-peer currency completely independent of any government, intermediary or biased party. While we certainly have various disagreements about the pros and cons of our respective technology, belong to different "maximalist" groups, and in general have varying beliefs, we all ultimately belong to a space that was motivated by the idea of a censorship-resistant and non-partisan digital asset/network. We would do well to remember that fundamental principle as we continue to work on Bitcoin over the next 14 years.

Tweet from Erik Vorhees on the sanctioning of Tornado Cash and potential BTC regulation by ESG proponents.

This is a guest post by Archie Chaudhury. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.

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The Block: Bitcoin mining stock report: Monday, October 31 – Crypto World Headline

Nov 1

Most bitcoin mining stocks tracked by The Block declined on Monday.

Bitcoin was trading at around $20,400 by market close, according to data from TradingView.

BTCUSD Chart by TradingView

Argo Blockchain fell 51.92% on the London Stock Exchange and 43.65% on Nasdaq, after saying that it might become negative cash flow negative due to a financing deal that fell through.

Cipher Mining fell 12.17%, followed by Bitfarms (8.68%) and Hive Blockchain (8.58% on Nasdaq).

Here's how crypto mining companies performed on Monday, Oct. 31:

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Stablecoins have a new name in Great Britain: Law Decoded, Oct. 24–31

Nov 1

From El Salvador and Lugano's collaboration to yet another lawsuit against Do Kwon, this is what the last week in regulation looked like.

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Author: Cointelegraph By David Attlee

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State of dYdX Q3 2022 – Crypto World Headline

Nov 1

Key Insights

Median usage on dYdX improved from Q2, while aggregate numbers fell largely due to fewer volatile events in Q3.
Despite healthy user and volume activity, depositors continue to withdraw funds from dYdX. So far, this does not appear to be impacting liquidity and trading.
Governance in the third quarter was focused on optimizing reward spend. Votes passed to wind down the liquidity staking module, increase the weight of volume in the LP rewards formula, reduce LP rewards to BTC and ETH markets from 40-20%, and reduce trading rewards.
dYdX Chain Mainnet launch is expected for Q2 2023. As the protocol completes at least its fourth consecutive quarter of net expenses when comparing revenues to rewards, a new model using the token as an L1 token brings an opportunity to reset the protocol tokenomics, value accrual, and decentralization.

Primer on dYdX

dYdX protocol operates a derivatives exchange on the Layer-2 (L2) StarkEx network. The hybrid-decentralized exchange offers perpetual futures contracts similar to the ones found on Binance, FTX, and other centralized exchanges. The protocol's ultimate goal is to build a fully decentralized derivatives exchange where no single party, including the team itself, can claim authority over the protocol's fundamental operations.

In the summer of 2017, Antonio Juliano, an ex-Coinbase engineer, founded dYdX. The protocol's first two products, Expo and Solo, were built for margin trading on Ethereum. After seeing the explosion of perp trading on Bitmex in 2019, dYdX decided to become the first DeFi protocol to provide perp trading. The launch of perps for major tokens like BTC and ETH quickly grew in popularity among traders seeking to use margin. Ease of use was further improved with the addition of StarkEx L2 rollups in 2021.

In Q2 2022, dYdX announced a transition from StarkEx to its own native blockchain, called dYdX Chain, as part of its effort to fully decentralize.

Introduction

The third quarter lacked the fireworks of Q2, but The Merge was a significant event and certainly had an impact on quarterly numbers. Daily volumes and users on dYdX were as active in the third quarter as they were in the second, when measured on a median basis. Trading in ETH was a higher percentage than in previous quarters, as traders prepared for and in some cases tried to game the Ethereum hard fork. Despite healthy trader activity, dYdX continued to see large withdrawals from the network.

Governance efforts in the quarter focused on optimizing DYDX (the protocol's native token) inflationary rewards. For another quarter, revenues produced by the protocol were outpaced by the USD value of tokens paid as incentives. Revenues currently accrue to dYdX Trading, not the community treasury, leaving the treasury with only DYDX tokens to fund initiatives.

The move to V4, announced in June, reached a milestone with the launch of the developer testnet. The launch of dYdX Chain is now expected in Q2 2023, creating a decentralized order book and improving alignment between tokenholders and the protocol.

Performance Analysis

Revenues to dYdX trading fell 22%, from $29 million in Q2 to $22.6 million in Q3. Despite falling token prices, rewards paid (measured in USD after claiming) still surpassed revenues earned. The $9 million net cost was the smallest in the last four quarters. Spikes in rewards claimed are due to the epoch schedule that allows reward collection approximately every 28 days.

In Q3, volumes fell 14% to $91.6 billion. Q2 volumes were elevated by three large volume events in April, May, and June. Q3 had The Merge in September, which drove ETH volume share higher. Despite less total volume, the median daily volume on dYdX in Q3 was actually higher than Q2 by $115 million.

Similar to volumes, daily active users (DAUs) and the total number of trades were down in Q3. This likely is the result of fewer events. Network activity remained healthy with the median of both DAUs and the daily number of trades rising from Q2. dYdX had a median of 167,000 trades in Q3 and 1,667 DAUs.

Despite the healthy usage measured by trades and DAUs, dYdX continued to see withdrawals in Q3'22. After $362 million left the platform in Q2'22, $233 million was withdrawn in Q3. The timing of the larger withdrawal events doesn't seem to align with rewards reductions but could be focused at the end of epochs.

Pursuant to falling deposits, open interest (OI) on dYdX was cut in half in Q3. In contract terms, BTC OI fell 50%, while ETH fell 38%, holding up better. Other tokens fared much worse: SUSHI, SOL, LTC, EOS, and AVAX all saw OI fall 80% or more in token terms, while AAVE, DOGE, DOT, FIL, MATIC, MKR, and UNI fell by at least 70%. The only increase in OI was in ETC, up 59% in token terms in Q3.

Less volatile markets meant fewer liquidations in Q3, and liquidated volume fell 58% to $340 million. Ethereum liquidations increased from 52% of liquidations in Q2 to 65% in Q3. Falling volatility in Bitcoin led to a 77% decline in liquidated volumes, BTC liquidations made up only 14% of total liquidated volumes in Q3.

On July 2, a snapshot proposal was initiated to vote on winding down the liquidity staking module. Although forum discussions began in June, in the week following the Snapshot vote TVL in the module fell from $130 million to $42 million. This passed an on-chain vote that concluded on September 27. On October 29, a snapshot vote passed in favor of winding down the Safety Pool and sending the allocated DYDX tokens to the treasury. This still requires an on-chain vote for implementation.

On-chain events in Q1 and Q2 led to a higher volume share for dYdX in the first half of 2022. One positive for the protocol is to see volume spikes at the end of epochs normalizing. This typically non-productive trading was incentivized via rewards. Amending the reward schedule appears to have had the desired effect.

ETH perp trading across these five exchanges increased 17% from $350 billion in Q2 to $420 billion in Q3. Heading into The Merge there was a popular trade to hedge ETH longs with a short position in perps either to hedge tech risk or to game the ETH POW fork. dYdX maintained a 10-15% share throughout the quarter, showing competitive funding rates with the largest CEXs.

Qualitative Analysis

Liquidity Staking Module

dYdX offered a Liquidity Staking Module (LSM) where anyone could deposit USDC that could be used by community-approved Market Makers as collateral to provide liquidity on dYdX. The stakers were rewarded with DYDX tokens. The Market Makers get access to cheap (zero-interest) capital that can only be used within the ecosystem. On September 27, the dYdX community voted in favor of winding down the borrowing pool by setting DYDX rewards associated with staking USDC to 0.

Though an appealing design, the Liquidity Staking Module does not appear to be an efficient allocation of resources for the protocol. Funded by dYdX Grants, Xenophon Labs released a research report on the LSM finding that "81% of the rewarded tokens have been given for USDC that was not lent to any market maker." The issue is primarily that the amount of USDC staked is dependent on the price of dYdX, and the variability of available funding leads to very low utilization by Market Makers.

On July 6, the community voted to wind down the Borrowing Pool associated with the LSM and repurpose the remaining DYDX token rewards.

On July 31, Ryan Rodenbaugh of TrueFi posted a proposal on the forum to revamp the LSM utilizing TrueFi's "Automated Line of Credit" (ALOC) product. Ideally, TrueFi's floating-rate ALOC will charge variable interest depending on the utilization of the lending pools. These interest rates, largely USDC-based but also incentivized with some dYdX, should reduce the volatility of available capital and thus increase utilization. An important question, however, is at what rate will the Market Makers be willing to borrow?

Trading Rewards Equation

dYdX incentivizes usage on its exchange by rewarding trading with DYDX tokens to help compensate for fees paid. The previous version of the trading rewards formula included fees paid, open interest (OI), and stkDYDX (staked DYDX).

In March, new research demonstrated that the opportunity to gain rewards for large OI created a very large game space for farmers to earn dYdX without adding liquidity or paying fees. After an initial change to the rewards equation in April, reducing the weighting given to OI, the community voted to remove any reward attributed to larger open interest. The vote also reduced the total trading rewards per epoch by 25%.

OI has markedly fallen since these changes, but OI doesn't necessarily impact liquidity. In fact, OI and volumes on the exchange do not appear to be highly correlated.

The reduction in overall rewards helps bolster the treasury and gives more dry powder for longer-term investments.

LP Rewards Equation

Managing token rewards was a main theme of the quarter, and rewards for Liquidity Providers were also addressed. The first change came in February, which reduced the threshold for LPs and opened up rewards to more providers. Then in May, at the behest of Wintermute (one of dYdX's largest Market Makers), the community voted to add a volume factor to the LP rewards equation. This August, the community took that plan a step further. The August vote increased the weighting for the volume factor on all markets. Importantly, it increased the weight of BTC and ETH markets due to concerns that reducing the depth factor too much would have a negative impact on less liquid markets. To further balance that incentive, the community lowered the share of rewards that go to BTC and ETH markets from 20% each to 10% each, which now allows more rewards to go to other markets. These are the two deepest markets on the exchange and likely don't need to spend as much to attract liquidity.

So far, the changes have reduced spending to attract depth without harming liquidity in general. As the DAO focuses on optimizing resources spent in the bear market, tweaking the rewards they offer to users is a key lever they are using.

Funding Grants V1.5

On July 15, the community voted to fund a second grants program to be enforced by Reverie. The initial proposal was for a 33% increase from $6 million to $8 million, while the token that makes up the treasury has fallen roughly 85% in value. After some discussion in the forums, the grants program was reduced to $5.5 million for the next 6 months.

The renewed grants program highlights dYdX's process for decentralized management. The trustees of the dYdX Grants Program (DGP) make the funding decisions and execute them, while they outsource management and curation to Reverie. The community agrees to fund a central planner, Reverie, who executes on funding tools, research, and contributors. It is also an ode to the execution from the first grants program, as dYdX continues to align around their community values.

Final funding decisions are made by the trustees of the DGP. Despite receiving 65.5% of the vote, the Ambassadors program did not meet the 67% vote differential requirement for binding votes. The program offered community members the opportunity to join Burrows and work for the DAO in a part-time capacity. The Ambassador program was a decentralized alternative to applying for grant funding through Reverie, and it yielded many positive contributions.

dYdX Chain Update

On August 23, dYdX Trading published a blog updating the progress on V4. The major announcements were that Milestone 1, the launch of a developer testnet, was completed. Also, this update gave a timeline for the Mainnet launch, now expected in Q2 2023. Other plans include:

Milestone 2: Internal Testnet - Q3 2022
Milestone 3: Private Testnet - Q4 2022
Milestone 4: Public Testnet - Q1 2023

The launch of the developer testnet includes completing the order book, matching-engine, and the margining system. As a first step, the team achieved 50 trades per second. There are many optimizations and improvements still to make, but this is positive progress on a major change for the protocol.

Conclusion

Traders continue to transact on the largest on-chain perps exchange, despite continued withdrawals from the protocol. Median daily volumes and users increased from Q2 to Q3. Rewards paid to traders and stakers were again greater than revenues paid to the protocol. The community used governance and voting to change all of the key rewards programs, shutting down the liquidity staking module and reducing trading rewards. The launch of dYdX Chain is now slated for Q2 2023. It presents an opportunity to decentralize the protocol further and better align tokenholders with users.

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This report was commissioned by the dYdX Grants Program, a member of Protocol Services. All content was produced independently by the author(s) and any opinion, estimate, or probability does not necessarily reflect the opinions of Messari, Inc. or the organization that requested the report. Paid membership in Protocol Services does not influence editorial decisions or content. Crypto projects may commission independent research through Protocol Services. For more details or to join the program, contact ps@messari.io. Author(s) may hold cryptocurrencies named in this report, and each author is subject to Messari's Code of Conduct and Insider Trading Policy. Additionally, employees are required to disclose their holdings, which are updated monthly and published here. This report is meant for informational purposes only and should not be relied upon. This report is neither financial nor investment advice. You should conduct your own research, and consult an independent financial, tax, or legal advisor before making any investment decisions. Nothing contained in this report is a recommendation or suggestion, directly or indirectly, to buy, sell, make, or hold any investment, loan, commodity, or security, or to undertake any investment or trading strategy with respect to any investment, loan, commodity, security, or any issuer. This report should not be construed as an offer to sell or the solicitation of an offer to buy any security or commodity. Messari does not guarantee the sequence, accuracy, completeness, or timeliness of any information provided in this report. Please see our Terms of Service for more information.

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Bitcoin Fear Keeps Price From Lighting Up Halloween Night – Crypto World Headline

Nov 1

In this episode of NewsBTC's daily technical analysis videos, we examine Bitcoin price action on Halloween night to see if the market is in for any tricks or treats.

Take a look at the video below:

VIDEO: Bitcoin Price Analysis (BTCUSD): October 31, 2022

The forecast for Halloween night is cloudy with a chance of consolidation, according to the Ichimoku. As long as BTCUSD remains inside the cloud we shouldn't expect many tricks, nor treats. The most recent rally took pause at the 100-moving average and could return to the 50-day MA for a retest before moving further. Losing both moving averages would send Bitcoin to goblin town.

Bulls Run Into Resistance, But Bears Have Yet To Scare

Last night was a weekly close in Bitcoin, but the top cryptocurrency narrowly missed closing above the mid-Bollinger Band –– a sign that a bullish trend might be brewing that is now at risk of rejection.

During the 2018 bear market, closing directly below the mid-BB led to further consolidation before a larger breakout and it could happen again. Rejection would lead to nightmarish results.

BTCUSD_2022-10-31_15-17-39

Bitcoin bulls could be in danger | Source: BTCUSD on TradingView.com

Bitcoin Readies Final Nail In Crypto Winter Coffin

Bitcoin did manage to escape beyond the Tenkan-sen using the Ichimoku, which during the last bear market was enough to put the final nail in bear's coffins.

If crypto bulls are indeed out for blood, pushing prices to the Kijun-sen near $30,000 would inflict serious pain on the short side of the market –– which is currently a crowded trade.

BTCUSD_2022-10-31_15-21-19

Will BTC Survive All Hallows' Eve?

Only hours remain for the October month candle to close with a potential tweezer bottom –– similar to the candle structure from back in December 2018.

Bitcoin will also close the month with weakening bearish monthly momentum for the first time in nearly one full year. While the LMACD histogram has been bearish for its 14th month, momentum shows it will stay that way for at least a couple more months.

We are also looking ahead toward next month for the Fisher Transform to cross. The tool is used for finding precise turning points in markets, and in the past has accurately predicted tops and bottoms on the highest timeframes. Cyclical tools show that the turning point could arrive before the end of the year, but it isn't quite here yet.

BTCUSD_2022-10-31_15-29-33

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Unrealized Losses and Profits Signal Ongoing Accumulation of BTC Price

Nov 1

Many staunch HODLers refuse to sell their Bitcoins. Investors don't sell when the market is hot and bullish – they don't realize profits. They also don't sell when the market is cold and bearish – they don't realize losses. They HODL. That's what gives us clues today about how much longer the cryptocurrency winter may last and whether the BTC bottom is already in place.

Today's on-chain analysis looks at several indicators that show the relative level of unrealized losses and profits that investors are recording in the ongoing bear market. There are a number of arguments and similarities to previous cycles that suggest that the bottom of the BTC price has been reached and the ongoing accumulation is at an advanced stage.

Unrealized losses: macro bottom or another sell-off?

The Relative Unrealized Loss indicator is defined as the total loss in USD of all existing coins whose price at the time of realization was higher than the current price. The indicator is normalized by market capitalization, so it can be used to compare different cycles of the Bitcoin price.

On the long-term chart, we can see that the indicator reached its highest values at exactly the same time when the BTC price was dropping to historical macro lows (red lines and circles). Subsequent breakouts of the Relative Unrealized Loss indicator (blue lines) did not break through the previous peak, and the Bitcoin price did not fall below the previously reached low.

Despite this, the Relative Unrealized Loss is much lower in this cycle than in previous ones. In the current bear market, the indicator peaked at 0.491 on July 4, 2022. This happened shortly after BTC hit a low of $17,600 on June 18, 2022.

In contrast, for the 2015 and 2018 bear markets, respectively, this indicator peaked at 0.859 and 0.718. In both cases, this happened a few days after the historical macro lows.

Therefore, it can be concluded that as long as the Relative Unrealized Loss remains below the 0.491 level, the hypothesis that Bitcoin has already reached the macro bottom of the current bear market remains probable. If, on the other hand, there is a strong sell-off in the coming weeks and the indicator rises above the previous peak, the macro bottom may be reached much lower.

Bitcoin Relative Unrealized Loss — Relative unrealized loss chart by Glassnode

Unrealized profits: hidden bullish divergence same as last 2 cycles

The second indicator that draws a similar picture of the ongoing BTC price accumulation is the Relative Unrealized Profit. This indicator – like unrealized losses – is defined as the total profit in USD of all existing coins whose price at the time of realization was lower than the current price. Here, too, normalization against market capitalization is applied.

Also in this indicator, we see some correlation between the three historical bear markets. However – unlike in the previous indicator – Relative Unrealized Profit did not reach extremely low values at the time of the historical macro lows of the BTC price (red lines).

On the contrary, even after Bitcoin reached a bottom, unrealized profits continued to fall, creating a type of hidden bullish divergence (green lines). Despite the fact that the BTC price was generating higher lows, the indicator reached lower and lower values (blue lines). The lower the indicator fell, the more advanced the accumulation phase of the market bottom.

A similar situation is taking place in the current bear market. The Relative Unrealized Profit indicator is steadily decreasing, but the BTC price is not falling below the bottom at $17,600. If this trend continues, the accumulation phase may soon end and Bitcoin will start an upward trend.

Bitcoin Relative Unrealized profit — Relative unrealized profit chart by Glassnode

NUPL returns to the red area but does not fall below the bottom

Confirmation of the above arguments is provided by the famous Net Unrealized Profit/Loss (NUPL) ratio. Which is the difference between the previous ratios. To be precise, NUPL is the difference between relative unrealized profit and relative unrealized loss.

Currently, NUPL is again in the red capitulation area, from which it broke out temporarily in July-August 2022. Red is psychologically interpreted as the maximum fear and depression on the market. At the same time, it indicates the historically best areas to buy Bitcoin.

The value of NUPL did not fall below the lows generated at the macro bottom of the BTC price. According to the two previous bear markets. These were -0.528 in January 2015 and -0.388 in December 2018, respectively.

At the bottom of the Bitcoin price on June 18, 2022, the NUPL value was -0.108. So far, it has not fallen any lower. Therefore, if Net Unrealized Profit/Loss (NUPL) manages to stay above this level, there is a chance that the accumulation of this cycle is coming to an end and BTC will soon start a new bull market.

bitcoin Net unrealized profil/loss NUPL — NUPL chart by Glassnode

For the latest BeInCrypto Bitcoin (BTC) and crypto market analysis, click here.

The post Unrealized Losses and Profits Signal Ongoing Accumulation of BTC Price appeared first on BeInCrypto.

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Author: Jakub Dziadkowiec

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Ethereum flashes a classic bullish pattern in its Bitcoin pair, hinting at 50% upside

Nov 1

The formation of a bullish trading pattern suggests that the ETH/BTC pair could be on the verge of a trend reversal.

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Author: Cointelegraph By Yashu Gola

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Proof Of Stake: Explained | ZebPay – Crypto World Headline

Nov 1

Blockchains are decentralised. This brings several benefits like privacy, reduced points of failure and not relying on a third party. But one concern on a decentralised platform is whether all transactions are legitimate. This is where consensus mechanisms come in. They allow users to help the blockchain verify transactions and even be rewarded. While the first mechanism was Proof of Work consensus, the more popular choice today is Proof of Stake (PoS). So what is it and how does it work?

What is Proof of Stake?

The Proof of Stake algorithm allows users to engage with the blockchain and help secure it. Users participating in the validation need to lock in their digital assets. This acts as proof of their investment in the blockchain.

They then get a chance to validate new blocks. Most participants choose to be validators because of the rewards that come along with it. When you successfully add a block to the network, you earn more crypto tokens for the service you provide. But if you validate improperly or try to cheat the system, you stand to lose a part of your staked amount.

How Does Proof of Stake Work?

The first step of Proof of Stake consensus is staking. Participants "stake" or deposit the required number of tokens into a smart contract. Once they have done so, they have a chance to be selected as validators.

PoS employs a semi-random election process to decide the validators for each block. This process is based on several factors such as the number of tokens staked, total staking time and validation history.

Since there are several validators for each block, blockchains have a threshold for the number of validators who need to agree on its legitimacy for it to be added. Reaching this threshold is known as "achieving consensus". In most blockchains, if two-thirds of the validators agree on adding the block, then it is passed.

Proof of Work vs Proof of Stake

Advantages

Proof of Work	Proof of Stake
Increased Competition	Energy Efficient
More Open Network	Scalable
Highly Secure	Direct Incentives

Advantages of Proof of Work

Increased Competition – Competition is at the heart of Proof of Work. Participants are in a race to solve cryptographic puzzles the fastest. The one who does it fastest wins the chance to add a block and be rewarded for computing power. This makes the network secure.

More Open Network – You can start mining on proof of work today, by joining a mining pool with your existing computing devices. You do not need any additional investments to get started with this form of consensus.

Highly Secure – Hacking a proof-of-stake network would need you to have at least 51% of the computing power on the network, which is prohibitively expensive for any attacker. Therefore, the network is secure from hacking and malicious actors.

Advantages of Proof of Stake

Energy Efficient – Proof of stake does not require you to use any heavy computer hardware to mine blocks. You only need to stake your tokens to be a validator. This makes it highly sustainable and energy efficient when compared to proof of work.

Scalable – PoS is must faster than PoW. There are no increasingly complex puzzles to solve and blocks can be easily verified. This makes the network much more scalable and reaches speed many times faster than proof-of-work blockchains.

Direct Incentives – Proof of stake has a more tangible incentive-punishment cycle. If you validate illegitimate blocks, you lose your staked tokens. On the other hand, the punishment under proof of work is simply the cost of the electricity consumed to mine the block.

Disadvantages

Proof of Work	Proof of Stake
High energy consumption	Lock-in times
Not scalable	Hoarding Tokens
E-waste	Unproven at Scale

Disadvantages of Proof of Work

Energy Consumption – Due to the computing power necessary for solving cryptographic puzzles, proof of work is extremely energy intensive and a single blockchain can consume more energy than entire countries.

Not Scalable – By its nature, PoW puzzles must be challenging to solve. If they take very little time to solve, then the blockchain will not be secure. However, PoW cannot scale up to meet the demand for more transactions.

E-Waste – To remain competitive in PoW, miners must purchase the latest hardware to try and win out over all other participants. Older hardware is usually discarded which leads to e-waste generation.

Disadvantages of Proof of Stake

Lock-in times – Some blockchains can require you to keep your tokens staked for weeks or months after you decide not to engage in validation. This is a security measure to ensure there is no tampering with the blockchain but it can be an inconvenience to the users.

Hoarding Tokens – Validators may be incentivised to hoard tokens and increase their chances of being picked for each block. This locks in even more tokens and reduces the number of coins in circulation.

Unproven at Scale – The Ethereum Merge has recently been implemented, but it still remains to be seen whether the benefits of proof of stake hold up at scale. So far, the volume of transactions has remained relatively low on PoS blockchains.

Does Proof of Stake Lead to Centralisation?

Proof of Stake tends towards being more decentralised than Proof of Work. Under PoW, validation is a competition between all users. This prompts users to try and acquire the most powerful hardware and dominate the blockchain. By its nature, it promotes individuals to try and gather more power on the blockchain.

Proof of Stake instead implements semi-random election. While you will still have better chances of being picked if you stake more tokens, the network has safeguards in place to ensure all users have a chance to validate blocks. This leads PoS towards being more decentralised.

How To Earn From Proof of Stake?

Acquiring Tokens

The first step to earning from proof of stake is acquiring tokens to stake. This means you have to get a crypto wallet. This can be any software wallet from providers like Metamask or some crypto exchange.

Once you have your wallet, you can buy tokens from any crypto exchange and transfer them to the wallet.

Creating a Node

The next step to becoming a validator and earning block rewards is creating a node. A node is a computer system that holds a copy of the blockchain and participates in validating transactions.

Consult the website of the crypto project you wish to earn from. They usually have detailed guides on the minimum specifications required to become a validator on their blockchain. After assembling the required node, you are ready to start earning from Proof of Stake.

Staking Pools

If you do not have enough tokens or resources to become a validator and run a node, you can participate in staking pools. These are groups of users that pool their money together to run a single node. This allows you to earn from Proof of Stake without investing a lot of your income into it.

Is Proof of Stake Secure?

Proof of Stake is a highly secure method of consensus. This is why it is the mechanism of choice for most new blockchains. Even Ethereum, the second largest crypto token by market capitalisation has switched over to PoS. This would not be the case unless users of the networks trust this mechanism to fulfil the security requirements for crypto and Defi applications.

Final Thoughts

Proof of Stake has rapidly been taking over Proof of Work as the most popular consensus mechanism. Its energy efficiency and scalability are highly desired as the crypto market expands. It can offer faster transactions without compromising on security and decentralisation. Anyone can participate in Proof of Stake and earn through staking pools or by becoming a validator.

Trade Bitcoin and 100+ crypto tokens now on ZebPay. India's oldest and most trusted Crypto exchange.

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Can Avalanche Price Recovery Hit $22 In the Coming Week?

Nov 1

Earlier today, the Avalanche coin price showcased an 8.05% gain and tested $22 local resistance. However, a sudden selling pressure in the crypto market reverted the price with a long rejection candle and plunged the altcoin to its current price of $18.91. Thus, a possible correction could offer a pullback... Read more

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Author: Brian Bollinger

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1inch Partners With Revolut to Offer Crypto 'Learn & Earn' Course – Crypto World Headline

Nov 1

Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.

This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

Disclaimer: This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA.

Don't forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for BNB Chain and crypto.

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Team Finance hacker returns $7M of the exploited funds – Crypto World Headline

Nov 1

The perpetrator behind the $14.5 million exploit carried out on DeFi platform Team Finance has started returning his loot, indicating that this was a white hat attack.

Team Finance projects get 90% of their funds

According to blockchain security firm SlowMist, the projects affected by the hack have received $7 million from the hacker so far. Projects who are confirmed to have received refunds include Tsuka (765,000 DAI), Kondux (209 ETH), $CAW (5,073,000 DAI) and FEG (548 ETH).

The hacker has identified themselves as a whitehat, i.e a hacker who identifies vulnerabilities in a software and has no malafide intentions. However, the hacker will be keeping 10% of the exploited funds as bug bounty.

As per Team Finance's official website, all services have been restored and are running correctly.

"All user funds are unaffected and safe," the website reads.

More on the hack

Team Finance was alerted about the hack on their platform on 27 October, which led to a loss of $14.5 million. The exploit occurred during the platform's migration from Uniswap v2 to v3. Interestingly, the smart contract involved in the hack was previously audited.

The protocol, which has $3 billion secured over 12 blockchains, immediately suspended all activities on the platform and urged the hacker to get in touch in order to discuss a bug bounty.

Ethereum Input Data Messages (IDM) obtained from Etherscan show the plight of the users affected by this exploit. Helpless users lined up in the hacker's chat box to request refunds. The hacker responded by clarifying that he is a white hat and plans to return the majority of the looted funds.

Data from Defi Llama revealed that Team Finance's total value locked (TVL) plunged by as much as 14% in the hours following the hack, going from $147 million to $126.9 million. That figure has since climbed back up to $135.25 million.

Even as the month ends, bad actors in the space continue to exploit crypto-projects, cementing October's name as Hacktober.

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Hong Kong financial regulator issues guidelines for crypto futures ETFs

Nov 1

The Securities and Futures Commission hinted it would follow in the CME's footsteps by only initially allowing listings of ETFs linked to Bitcoin and Ether futures.

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Author: Cointelegraph By Turner Wright

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Kraken Daily Market Report for October 30 2022 – Crypto World Headline

Nov 1

Overview

Daily spot trading volume: $308.2 million, 30 day average spot: $431.0 million.
Total futures notional: $90.2 million.
The top five traded coins were, respectively, Tether (↓0.01%), Dogecoin (↓3.4%), Bitcoin (↓0.9%), Ethereum (↓1.8%), and USD Coin (↑0.01%).
Strong returns from Gala Games (↑20%), Chiliz (↑15%), and MXC (↑11%).

<td width="10%" style=" font-size: 11px; font-weight: normal; border-left: 2px

The post Kraken Daily Market Report for October 30 2022 appeared first on Kraken Blog.

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October 30, 2022 $308.2M traded across all markets today Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD
USDT $1.0002 ↓0.01% $76.1M	DOGE $0.1176 ↓3.4% $59.6M	BTC $20625. ↓0.9% $54.3M	ETH $1591.4 ↓1.8% $52.7M	USDC $1.0 ↑0.01% $15.4M	SOL $32.93 ↑0.12% $8.27M	ADA $0.4057 ↓3.5% $7.05M	LINK $7.7848 ↑1.9% $4.55M	XRP $0.4576 ↓2.7% $3.58M	LUNA $0.0002 ↑5.1% $3.41M
MATIC $0.9092 ↓2.6% $2.64M	SHIB $1.193e ↓7.5% $2.58M	DOT $6.6469 ↑0.15% $2.26M	DAI $0.9998 ↑0.0% $2.06M	SAND $0.8609 ↑6.2% $1.99M	ATOM $13.942 ↑3.4% $1.86M	LTC $55.37 ↓2.2% $1.67M	UST $0.0396 ↑2.4% $954K	FLOW $1.721 ↓4.1% $941K	LUNA2 $2.5073 ↑2.7% $854K
CHZ $0.2265 ↑15% $778K	XMR $147.71 ↓0.9% $768K	GALA $0.0441 ↑20% $762K	WAVES $3.4975 ↑4.0% $734K	MANA $0.6716 ↑1.4% $729K	MINA $0.692 ↓1.6% $724K	AVAX $18.26 ↓0.05% $704K	FIL $5.39 ↓5.7% $697K	UNI $6.909 ↓2.6% $691K	QNT $168.67 ↑2.8% $663K
FTM $0.2378 ↑5.7% $659K	ALGO $0.3605 ↑6.2% $615K	APE $4.794 ↓2.6% $542K	SUSHI $1.701 ↓8.0% $521K	ETC $24.536 ↓4.2% $449K	XLM $0.1110 ↓2.3% $421K	PHA $0.1558 ↓4.9% $375K	KSM $36.41 ↑1.1% $373K	EWT $4.031 ↓0.8% $362K	XTZ $1.4231 ↓1.5% $361K
AAVE $83.84 ↓1.9% $351K	INJ $2.187 ↓4.4% $302K	COMP $50.147 ↓2.0% $298K	KAVA $1.4681 ↓1.9% $288K	MLN $23.698 ↓0.5% $282K	TRX $0.0631 ↓2.0% $275K	EOS $1.1103 ↓2.4% $268K	LDO $1.5529 ↓5.2% $264K	ENJ $0.46 ↑0.9% $261K	ICP $5.322 ↓2.1% $249K
CRV $0.909 ↓2.6% $226K	SYN $1.0895 ↓0.7% $226K	OCEAN $0.1773 ↓5.2% $224K	APT $7.7939 ↓3.3% $220K	BCH $116.41 ↓1.9% $218K	GLMR $0.482 ↑0.0% $217K	GRT $0.0837 ↓0.6% $208K	AXS $9.259 ↓0.5% $201K	WBTC $20713. ↓0.6% $176K	NEAR $3.104 ↑0.4% $165K
IMX $0.613 ↓2.1% $160K	EGLD $58.26 ↑2.8% $160K	MASK $2.23 ↓9.7% $150K	ETHW $6.798 ↓1.0% $143K	DYDX $1.694 ↓4.0% $140K	CQT $0.0976 ↑4.1% $137K	ZEC $53.49 ↓1.6% $131K	KNC $0.921 ↑0.09% $116K	JASMY $0.0053 ↓5.2% $110K	LSK $0.9818 ↓0.8% $105K
SNX $2.45 ↓3.2% $91.4K	KEEP $0.1273 ↓0.26% $91.0K	SC $0.0033 ↓1.5% $89.6K	LRC $0.2766 ↓1.4% $87.2K	PAXG $1635.1 ↓0.02% $83.3K	OXT $0.0936 ↓0.7% $82.2K	GMT $0.533 ↑3.5% $78.9K	SCRT $0.924 ↓1.9% $78.8K	YFI $8167.0 ↓2.8% $76.1K	MKR $910.83 ↓0.5% $64.8K
STORJ $0.4347 ↓2.0% $63.5K	ENS $17.23 ↓2.5% $60.1K	RNDR $0.5689 ↑4.4% $55.5K	DASH $41.97 ↓1.7% $51.8K	RUNE $1.558 ↓2.4% $43.0K	SGB $0.0183 ↑4.0% $42.7K	RARI $2.13 ↓7.8% $40.2K	NANO $0.7401 ↓1.4% $39.7K	MIR $0.191 ↓2.1% $39.5K	OMG $1.6606 ↓1.6% $36.5K
REP $7.152 ↓2.8% $31.9K	MOVR $11.162 ↓1.1% $31.3K	LCX $0.0485 ↓2.9% $31.2K	GHST $1.1268 ↓0.5% $31.1K	MNGO $0.0169 ↓4.3% $30.9K	BAT $0.2964 ↓2.1% $30.1K	QTUM $2.8623 ↓3.5% $27.7K	ANKR $0.0292 ↓1.4% $27.4K	PERP $0.5446 ↓1.9% $23.9K	CTSI $0.1393 ↓1.0% $22.8K
MXC $0.0609 ↑11% $19.8K	BTT $8.3e-0 ↓1.2% $19.0K	BSX $0.0001 ↓1.2% $18.4K	GTC $1.928 ↑1.3% $17.7K	FXS $6.665 ↓4.3% $16.7K	REN $0.1251 ↓2.6% $16.4K	KILT $0.627 ↑1.3% $16.3K	CFG $0.2395 ↓0.4% $16.2K	1INCH $0.613 ↓1.8% $14.9K	ANT $1.8184 ↑0.8% $13.8K
ACA $0.16 ↑0.6% $13.6K	KIN $1.176e ↑0.3% $13.5K	ICX $0.2356 ↓0.5% $13.4K	FET $0.0845 ↓3.8% $13.3K	OGN $0.146 ↓0.8% $12.5K	TOKE $1.9 ↓1.0% $12.2K	LPT $9.18 ↓2.5% $12.2K	FIDA $0.407 ↓0.7% $12.0K	API3 $1.728 ↓4.5% $12.0K	AUDIO $0.1976 ↓5.1% $11.9K
RPL $23.46 ↓7.6% $11.6K	BAND $1.183 ↓1.4% $11.6K	ZRX $0.252 ↓4.2% $11.4K	NODL $0.0040 ↑0.8% $11.2K	BAL $6.74 ↓2.7% $11.0K	KAR $0.274 ↑5.8% $10.3K	SPELL $0.0008 ↓2.4% $9.78K	SAMO $0.0089 ↓8.8% $9.56K	SRM $0.777 ↓3.7% $8.66K	GNO $129.02 ↓1.1% $8.65K
KP3R $96.6 ↓0.21% $8.11K	MV $0.1714 ↓4.4% $7.99K	ACH $0.0113 ↓4.7% $7.87K	ASTR $0.0366 ↓1.9% $6.99K	C98 $0.3299 ↓3.0% $6.55K	KINT $1.08 ↓2.7% $6.22K	PARA $0.0190 ↓8.1% $6.15K	XCN $0.0493 ↓2.6% $6.08K	RBC $0.0785 ↑0.21% $6.05K	AIR $0.0091 ↓0.11% $6.04K
BOND $4.867 ↓0.7% $5.53K	TLM $0.0218 ↑1.2% $5.4K	SBR $0.0019 ↓1.2% $5.38K	CVX $5.34 ↓4.0% $5.16K	NYM $0.2905 ↑0.24% $4.95K	COTI $0.1043 ↓4.7% $4.76K	ATLAS $0.0049 ↑11% $4.76K	JUNO $3.1357 ↓1.8% $4.74K	STX $0.3168 ↑0.09% $4.74K	MC $0.721 ↓1.8% $4.58K
POWR $0.2129 ↓14% $4.4K	ALPHA $0.1176 ↓0.8% $4.3K	BNT $0.478 ↓2.8% $4.2K	YGG $0.3046 ↓3.0% $3.96K	CHR $0.1502 ↓4.1% $3.68K	BNC $0.1229 ↓0.8% $3.61K	DENT $0.0008 ↓0.9% $3.57K	INTR $0.029 ↓5.0% $3.52K	UMA $2.306 ↑2.0% $3.18K	STEP $0.027 ↓0.7% $3.13K
WOO $0.1819 ↓2.4% $2.88K	GARI $0.0513 ↓3.2% $2.87K	MSOL $34.75 ↓2.1% $2.79K	TVK $0.0369 ↓0.05% $2.44K	BLZ $0.0799 ↓0.8% $2.38K	AKT $0.2511 ↓1.3% $2.38K	PSTAKE $0.1085 ↓0.7% $2.28K	UNFI $5.908 ↓2.3% $2.27K	CVC $0.1238 ↓3.1% $2.23K	REPV2 $6.944 ↓0.3% $2.17K
POND $0.0111 ↑5.4% $1.89K	T $0.0266 ↑2.1% $1.73K	ALCX $21.29 ↓2.3% $1.73K	SDN $0.3474 ↓0.4% $1.72K	ALICE $1.724 ↑1.5% $1.69K	STG $0.504 ↓4.4% $1.56K	BADGER $3.3404 ↓4.0% $1.54K	RLC $1.0622 ↓0.8% $1.39K	TEER $0.5001 ↓0.0% $1.38K	FORTH $4.1602 ↓0.6% $1.37K
POLS $0.452 ↓1.5% $1.29K	BOBA $0.292 ↑0.03% $1.24K	ARPA $0.0344 ↓0.6% $1.22K	RAD $2.105 ↑0.0% $1.19K	MULTI $4.545 ↓2.6% $1.06K	FARM $38.7 ↓2.9% $1.0K	XRT $3.42 ↓2.3% $0.8K	CELR $0.0153 ↑0.29% $0.77K	RAY $0.523 ↓2.4% $0.74K	KEY $0.0043 ↓1.3% $0.66K
GST $0.025 ↑4.2% $0.63K	AGLD $0.3555 ↓0.3% $0.63K	POLIS $0.327 ↓4.1% $0.6K	CSM $0.0043 ↓3.9% $0.57K	SUPER $0.1264 ↓1.5% $0.56K	GAL $2.1941 ↓5.0% $0.53K	OXY $0.0449 ↑0.22% $0.52K

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Elon Musk Dissolves Twitter's 9-person Board of Directors to Become the Only Director

Nov 1

Following the elimination of Twitter's nine-member board of directors, Elon Musk is now the only director of the social media company. Musk's First Day At Twitter Musk immediately fired Twitter's CEO Parag Agrawal, CFO Ned Segal, and head of legal policy, trust, and safety Vijaya Gadde after assuming control of... Read more

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Author: Pratik Bhuyan

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2 metrics signal the $1T crypto market cap support likely won't hold

Nov 1

Despite the 8.5% weekly rally in cryptocurrencies, the lack of stablecoin premiums in Asia and futures markets activity shows buyers' lack of confidence.

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Author: Cointelegraph By Marcel Pechman

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Should You Buy This Potential Pullback In Shiba Inu Price?

Nov 1

The ongoing recovery in Shiba Inu price halts at the local resistance of the $0.000014 mark. In addition, the several higher price rejection candles at this supply zone indicate the exhausted bullish momentum and a higher possibility for price reversal. Thus, a bearish reversal could offer a pullback opportunity for... Read more

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Author: Brian Bollinger

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Bitcoin Songsheet: Bitcoin Maximalism Is The Continuation Of The Cypherpunk Ethic

Nov 1

Examining the various innovations that led to the Bitcoin white paper shows us that only Bitcoin continues the Cypherpunk ethos.

This is an opinion editorial by Jimmy Song, a Bitcoin developer, educator and entrepreneur and programmer with over 20 years of experience.

It's white paper day and for most people, they think of October 31, 2008 as the beginning of Bitcoin. This is understandable, since the release of the white paper and the subsequent launch of the network are celebratory events. As great as these days are, this is a very limited understanding of what happened.

There was a large amount of innovation that came from a subculture that not enough people are familiar with. And indeed it was within the context of the Cypherpunks that this beautiful monetary system sprung forth. To understand Bitcoin, we need to understand its origins and all that came before.

In this article, I give a brief overview of the many different experiments, most of which failed, that helped lead to Bitcoin. As you will see, the culture that Bitcoin was born from is very much alive in Bitcoin, but not in altcoins or in fiat money. Bitcoin Maximalism, in other words, is the heir to the cypherpunk spirit.

Origins

There were many innovations that were necessary for Bitcoin to work and the very first one was public-key cryptography. Public-key cryptography was invented by a couple of academics: Whitfield Diffie and Martin Hellmann. Indeed, the protocol for exchanging keys bears their names, ECDH stands for Elliptic Curve Diffie-Hellman. They invented public-key cryptography during the dawn of the internet age in 1976, some 33 years before Bitcoin would come along.

The main innovation in public key cryptography was the ability for someone to prove that they know a secret without revealing the secret. If this seems like a magic trick, it does for me, too, and I've been studying this stuff for 20 years. The mathematics are sound but it's not that intuitive that you can prove that you know something without revealing it. Still, this is something that's possible and public-key cryptography is now the basis for the modern internet and the security around a ton of digital properties.

The key aspect of public-key cryptography that's interesting from a Bitcoin perspective is that the system is asymmetric. Before, you needed both parties to know a secret before data could be transferred securely. With public-key cryptography, one party has a secret while the other party has a public identifier/key. The innovation allowed for encryption/decryption without the traditional setup of a shared secret as well as signing/verification which clearly identifies a private key as the originator of a message.

It took a bit of time before the academic breakthrough found its way to commercial products, and indeed, it's that frustration that led to the next step in our journey.

Cypherpunk Mailing List

Academic papers like the one that Diffie and Hellmann wrote are good and all, but the actual engineering didn't really take off until later. The early internet allowed for collaboration between strangers and it's in that early stage that communities started forming. The most significant of these communities was the Cypherpunks Mailing List. This was an email list created in 1992 that had an aim of using the many cryptographic technologies available for the good of the individual, not just militaries.

This list had an impact on the evolution of the internet, to put it mildly. Early Cypherpunks like Marc Andreesen would go on to create the web browser. Others like Julian Assange would expose government malfeasance. Still others like Adam Back and Nick Szabo would have roles in the creation of Bitcoin.

The list was a cultural break from the stodgy, academic approach of the previous generation. The pioneers like Diffie, Hellmann, Ralph Merkle and others were much more interested in writing papers than actually implementing software that would make a difference for the ordinary person. If the older generation were a bunch of scientists, the Cypherpunks were a bunch of engineers.

Some of the phrases from A Cypherpunk Manifesto are legendary. "Cypherpunks write code." "We must defend our own privacy if we expect to have any."

The general tone of the manifesto is making tools for the purpose of keeping privacy. This attitude reflects the culture of the Cypherpunks. We need to assert our natural rights through cryptography and not let would-be overlords take them.

The manifesto is prescient in the ways that our digital lives would eventually be centralized. This is all the more remarkable as back then, the internet didn't even have web pages, let alone online shops, social networks or live video servers. The internet back then was email, IRC and Usenet forums. Yet the Cypherpunks foresaw that privacy would be a future attack vector. This is not unlike the Bitcoin Maximalists today who foresee the consequences of a CBDC-based world order.

In particular, the Cypherpunks recognized that money was a big security hole. Knowledge about your purchases makes you significantly vulnerable as that's some of the most private data you have. To quote the manifesto:

"We are defending our privacy with cryptography, with anonymous mail forwarding systems, with digital signatures and with electronic money."

First Attempts At Money

The first attempts at using cryptography for monetary purposes was with David Chaum's Ecash. A mere six years after Diffie and Hellmann created public-key cryptography, Chaum came up with a way to do anonymous bearer digital cash, as long as you trusted the issuer. His Ecash system was a thing of beauty. You could transfer receipts digitally without revealing who you were through a process called blinding. Ecash could be assigned from one party to another, without any record of where that cash had been. The fact that you could verify that the cash really did come from the issuer without knowing any of the participants that transferred that cash was the innovation.

The early emphasis on privacy was very much a part of the Cypherpunk ethos as they recognized early that digital trails are permanent in ways that physical trails are not.

It took David Chaum another 14 years to bring this idea to market with his company DigiCash, which he thought could be a private internet money. Unfortunately, banks didn't really want to be issuers of Ecash as they wouldn't have that much control over who was using it. Clearly identifiable credit card transactions won instead, with companies like PayPal taking full advantage.

The defeat of DigiCash was disappointing to a lot of Cypherpunks. Instead of a private digital cash as the standard way to do commerce online, the standard was now credit cards, which let third parties know exactly what you're buying. What became clear was that there was a central party in the Ecash scheme, namely the bank that was issuing the cash. Centralization would be the big vulnerability that ruined the privacy, security and self sovereignty of this system. In other words, by linking Ecash to fiat currency, the Ecash system was infected by its rules and regulations.

Liberty Dollars And E-Gold

Additional attempts to create privacy-preserving money were tried, including two that ran for about 10 years: Liberty Dollars and e-gold. Both were meant to be used in a private manner, unlike credit cards.

Unfortunately, both projects suffered from the same critical flaw. They were centralized. In 2008 both were shut down and many people were jailed by the Department of Justice for not following AML/KYC laws.

As an aside, this is roughly how long it takes for government entities to go after some of these centralized schemes. I suspect that prosecuting centralized altcoins will take roughly the same amount of time.

A Decentralized Digital Ledger

In 1998, Wei Dai came up with a distributed common ledger for an internet money system. His b-money paper was a system based on an unspecified computationally difficult problem. Unfortunately, he couldn't figure out how to make the problem objective or prevent the number of units of the currency from going to infinity.

Wei Dai had created what would later be called a blockchain, but b-money was never implemented because of the money issuance problem. If doing X would get you some money on the ledger, and the money was valuable, there would be an infinite amount of money in the system. He couldn't figure out how to make the amount of money in the system scarce.

Proof-Of-Work

So, how to make digital money scarce? The Cypherpunks stumbled onto a solution from an unexpected direction.

The problem that Adam Back was trying to solve wasn't anything related to money. The Cypherpunks were working on a remailer, which would be a way to preserve privacy for emails. The design was distributed, as having a central party control everything would defeat the purpose of preserving privacy. But an essentially anonymous email system meant that these remailers would go down in the event of a denial-of-service attack, which we now call spam.

As there wasn't a central authority to filter these spam emails, he came up with a novel solution. He added computing cost to the emails to make denial of service not impossible, but at least expensive. This was called hashcash and the scheme was proposed as an effective way to filter large volumes of spam.

This innovation in 2002 sparked interest in a different group of Cypherpunks. Among the Cypherpunks was a group that were very interested in digital money. Nick Szabo, Hal Finney and Wei Dai were among them and when they saw hashcash come across the Cypherpunk mailing list, they realized almost right away that there was potential for digital scarcity.

Hashcash had the right properties. It was designed for a decentralized system and solved a real problem of zero marginal cost. Still, they weren't sure how to make all of it work.

Reusable Proofs Of Work

At this point, we had most of the elements that would be needed for private, digital money. Hal Finney recognized that between public-key cryptography, digital ledgers and proof-of-work, there was enough to at least implement a proof-of-concept digital money. This was called Reusable Proofs of Work and it was implemented in 2004.

The basic idea was that anyone could submit a sufficiently difficult proof-of-work for some amount of tokens on a central ledger. That ledger could be updated via transactions making for a monetary system. The ledger wasn't distributed, exactly, as proof that the transaction was valid was based on verifying the computer that the central server ran on. The hardware was known and could be queried by users to see if it ran the ledger without cheating.

This was fairly close to Bitcoin, but still had centralization or single points of failure. First, the computer was manufactured by IBM and the software relied on that hardware being auditable. IBM could manipulate their hardware in the future. Second, users had to trust that the central ledger would stay online. The problem with centralized services is that they can and do go down, which completely stops the system. This is, of course, the major problem with altcoins like Solana.

Once again, centralization was the vulnerability that couldn't be overcome.

Bitcoin

In 2008 Satoshi Nakamoto took all of these ideas and combined them to create Bitcoin as we know it today. In addition, he came up with a particularly clever innovation of the halving schedule, the difficulty adjustment and putting the proof-of-work into the ledger.

The combination of all three created real scarcity and removed the need for a central party. Instead of some arbitrary amount of money being given out to anyone with proof-of-work, there was a contest to find a given proof-of-work in a global search. The halving and supply schedule guaranteed an upper limit. For the first time, we had true digital scarcity.

The years of searching for a solution was a slow and steady one. First Ecash was an adjunct to the dollar. Then, b-money added using a ledger to keep track of a purely digital asset. Then proof-of-work added unforgeable costliness. And finally the halving schedule and difficulty adjustment on the proof-of-work required to issue new tokens strictly limited the amount issued.

A Culture Of Self Sovereignty

It's in this context that we can finally analyze the current Bitcoin culture. The Cypherpunks started and continued on an ethos of not just building, but in removing security threats. The lessons learned over 15 years of failed digital money was that centralization was the big security threat. Centralization is what sank Chaum's Ecash. Centralization is what prevented b-money and RPOW from working. Centralization is what makes fiat money such a perilous asset to be holding. Bitcoin was born of necessity, because these other systems didn't work.

Stablecoins are really attempts at Ecash, except worse due to their limited privacy capabilities. Altcoins are centralized promises, the kind which Cypherpunks detested as theoretical. Bitcoin is the only coin that continues this ethos of self-sovereignty. Indeed, altcoins hold onto their centralization and will never give them up because that's what gives their controllers money and power.

Altcoins reflect the values of their founder. Professor coins are theoretic and don't work in practice. VC/Business types create coins that increase their own wallets, but do little to provide self-sovereignty or even value to their users. Technologists mostly just mess around and make things without much regard to what gives self-sovereignty. Only a Cypherpunk could have created Bitcoin.

That self-sovereignty, that reduction of the attack surface, that focus on security and privacy is at the heart of the Cypherpunk ethic. Instead of focusing on getting rich, or famous, or disrupting some industry, Bitcoin came out of a much humbler origin — of wanting to keep the value we've already created without the potential of it being taken away.

Bitcoin Maximalism is the descriptive idea that money has a network effect and that Bitcoin will win due to its decentralization and value-saving without some entity which can tax/steal it away. Maximalism is an extension of the self-sovereign ethic of the Cypherpunks.

Carrying On The Legacy

Carrying on the legacy of Cypherpunks is not a small responsibility. They were on the frontlines against the tyranny of government in the digital realm. They were at the forefront of the Encryption Wars against the government. It's not a coincidence that Assange was a Cypherpunk. Bitcoiners are now on the front lines of this battle that is quickly expanding to battles around CBDCs, financial surveillance and worse.

In that sense, altcoiners are incredibly cringe. They are willing to sell their souls, comply with whatever governments want and bend the knee to keep their rent-seeking positions. They are corporate copies of Bitcoin without the Cypherpunk spirit. They are cheap imitations — not just in code, but in culture.

As Bitcoiners, we continue the Cypherpunk tradition. That means writing code, so to speak. You don't rest on your laurels and practice mental masturbation about what might be.

Altcoiners talk. Bitcoiners do.

This is a guest post by Jimmy Song. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

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Big Brother Comes to India With Launch of Digital Rupee

Nov 1

The Reserve Bank of India (RBI) will launch a wholesale pilot of its digital rupee on Nov. 1, 2022, to make interbank settlements more efficient, with plans for a retail Central Bank Digital Currency (CBDC) to follow.

It is launching the project in partnership with nine Indian banks, including The State Bank of India, Bank of Baroda, Union Bank of India, HSBC, and several others.

Digital rupee to force crypto out?

The RBI's plans are a source of concern for crypto traders and investors. In its previous report, the RBI believed cryptos are inherently biased against the government controls needed to ensure financial stability.

The pilot will focus on reducing the need for settlement guarantee infrastructure and collateral needed to manage settlement risk. Based on the pilot's findings, the RBI will then explore other interbank applications and cross-border remittances.

The interbank project will likely use an account-based approach, identifying owners by transaction records rather than by how many tokens they hold.

The announcement of the wholesale pilot comes about three weeks after the Indian central bank launched its roadmap for both a wholesale and retail digital rupee. In the report, the bank said that it would build the CBDC based on the recommendations of an internal working group. The currencies would be in a digital sandbox environment for design and functionality. Then, the RBI would stress-test them before pilots are started for both. The planned retail CBDC is likely still undergoing testing. The bank will launch the pilot to closed user groups of customers and merchants in specific locations.

Government control a concern for Indians

Notably, the bank does not view technologies like blockchain as having the necessary transaction throughput required in large jurisdictions. Therefore, it will likely use centralized and decentralized elements to build its CBDC architecture. This strategy raises questions about censorship and government surveillance.

By using digital currency, Indians will give up personal details located on their driving license or other identification documents. They will give up their transaction histories and metadata. The metadata could include the transaction time, entities that took part in the transaction, and where the transaction occurred. In short, Indians using the retail CBDC will kiss their privacy goodbye. They also potentially open themselves up to cybersecurity threats if the RBI is hacked. Even if the RBI imposes measures to prevent leaking data, the government would likely build the infrastructure with back doors.

Eswar Prasad, author of The Future of Money: How the Digital Revolution is Transforming Currencies and Finance, warns against tyranny. "In authoritarian societies, central bank money in digital form could become an additional instrument of government control over citizens rather than just a convenient, safe, and stable medium of exchange."

Unfortunately, the reality of government surveillance in connection with CBDCs is a crypto nightmare that is slowly coming true.

Turkey has announced that it will roll out its digital Lira CBDC in 2023, incorporating its FAST digital identity system.

One political commentator, Peter Imanuelsen, said," With a central bank digital currency, it becomes really easy for the state to stop dissidents from buying or selling. This is all about total control."

Given India's resistance to crypto, including hefty taxes on capital gains, traders and investors could soon find themselves out in the cold.

For Be[In]Crypto's latest Bitcoin (BTC) analysis, click here

The post Big Brother Comes to India With Launch of Digital Rupee appeared first on BeInCrypto.

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Author: David Thomas

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Hong Kong outlines new rules for crypto futures ETF issuers – Crypto World Headline

Oct 31

Hong Kong's regulator has detailed the basic requirements that exchange-traded fund managers need to meet in order to list crypto products in the city.

The list forms part of a wider effort by city officials to re-establish Hong Kong as a center for virtual assets. The finance minister and other senior officials on Monday laid out plans to attract crypto-related companies including clearer trading rules.

Hong Kong's regional government also re-emphasized its participation in China's broader experiment with central bank digital currencies.

Among those plans were crypto futures ETFs with underlying assets in instruments linked to bitcoin and ether futures traded on the Chicago Mercantile Exchange (CME), Securities and Futures Commission Deputy CEO Julia Leung announced at Hong Kong Fintech Week today.

A circular published after the forum closed for the day spelt out more details on what the SFC expected from any ETF issuer that sought regulatory approval to list a futures crypto product in Hong Kong.

Any product needs to meet requirements governing unit trusts, mutual funds and unlisted structured products.

The ETF issuer needs to show a minimum three-year track record and record of regulatory compliance.

Issuers will need to demonstrate digital asset ETFs have adequate liquidity.

Net derivative exposure cannot exceed 100% of the ETF's total net asset value.

Issuers are required to carry out investor education efforts before launch.

''It has been observed that there are meaningful developments in the VA ecosystem recently and some of the initial concerns over VA Futures ETFs have become increasingly manageable and could be adequately addressed with proper safeguards, disclosure and investor education,'' the SFC said in its regulatory notice.

But despite the announcement the agency raised caution about cryptocurrencies and other virtual assets. The SFC's announcement noted that, "a good part of the VA ecosystem (e.g., VA trading platforms) is still not subject to the same robust regulation as service providers or products in traditional financial markets, investment products that invest directly in spot VAs may continue to present investor protection issues.''

About Author

Benjamin Robertson is senior newsletter writer at The Block, based in Oxford. He covers global crypto policy and regulation news. Before joining, he worked at Bloomberg News where he wrote about crypto, regulation and finance in Hong Kong, and later reported on private equity and asset management in London. Get in touch via email at [email protected] or on Twitter at @BMMRobertson

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Portal Fantasy: A Fantastic RPG Experience

Oct 31

Pixel RPGs that are fun to play while also being truly rewarding are a dying breed. But the team behind Portal Fantasy aims to turn that around.

Designed from the ground up to be a community-focused RPG that places user-generated content at the forefront, Portal Fantasy is here to make sure it grows into a game that stands the test of time.

Portal Fantasy's game mechanics are very reminiscent of old-school Pokémon and Zelda games. Its level progression, which features traveling to multiple worlds, is very Metroidvania-esque. But it also stands very much on its own two feet with a fresh spin on the pixel RPG—community contributions.

The game's backers and partners are nothing short of incredible, Makers Fund, Blizzard Fund, Ava Labs, YGG SEA, Avalaunch, GFR Fund, Infinity Ventures, Genesis Block Ventures, Keychain Capital, C2 Ventures, Mirana, Wave Financial, D1 Ventures. Their faith in Portal Fantasy speaks volumes about its potential to set a new standard in blockchain games.

Players can choose two playstyles when starting Portal Fantasy: Hero or Architect. The former allows you to explore various hub-sized worlds using the Portal Altar. In them, Heroes can befriend and train Porbles, who are magical creatures that dwell within the worlds of Portal Fantasy. Heroes will also be rewarded for exploring and completing quests.

Meanwhile, the Architect path offers a more passive playstyle. Architects can use the Creator's Compass to design and build new worlds—this is where the community-run aspect of Portal Fantasy comes in.

The worlds created by Architects can then be explored by Heroes; the more heroes that interact with the worlds, the better rewarded the Architects are.

It was very important to the team behind Portal Fantasy that community interactions and user-generated content offered a lasting supply of exciting content for the game. Moreover, they worked hard to ensure that Portal Fantasy had a strong foundation of fun gameplay, rewarding progression, and exciting lore behind it.

It's not easy to create an economy that is both equally rewarding and challenging. It's harder to make sure your game's replayability doesn't take a hit from this, either. The Portal Fantasy team has poured over every aspect of the game's economy with a fine-toothed comb, running countless simulations to make sure its economy thrives as the game ages.

What's more, the game is designed in a way that the more players interact with the game; completing quests, creating worlds, and training Porbles—the higher their rewards will be.

Stats and player progression go hand in hand. For the first 100 Porbles the game will have upon release, players can rest assured that each Porble will have balanced stats that push them towards finding the next best one. This incentivizes players to become more and more invested in Portal Fantasy while being rewarded for their efforts.

Accessibility and player trust is a core part of the Portal Fantasy team's philosophy. When it comes to monetization, Portal Fantasy will be free-to-play from top to bottom. Players will never be asked to cash in if they wish to progress to a new level or quest. Connecting a wallet is completely optional, and players can do so later on if they choose.

As a blockchain game, Portal Fantasy utilizes fair and pro-consumer practices when it comes to rewards and monetization. Instead of relying on an influx of new players to support the existing playber base (as most blockchain titles do), the players will solely be rewarded for their individual efforts within the game.

The team behind Portal Fantasy aims to break down the stigma around blockchain gaming by showing players that well-made RPGs that are genuinely exciting to play can coexist with a play-to-earn structure.

Website | Twitter

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Bitcoin Price Analysis Ahead Of Its Monthly Close, Will $20,500 Hold As Support? – Crypto World Headline

Oct 31

BTC's price shows strength as it bounces from a downtrend range price rallied to a high of $20,500 with eyes set on $22,000.
BTC could rally more as the price creates more bullish bias by breaking out of a downtrend descending triangle with eyes set on rallying higher.
BTC's price remains strong on the daily timeframe abo the 50 Exponential Moving Average (EMA) as the price aims for more rallies.

The price action displayed by Bitcoin (BTC) in the past few days has been impeccably high, with the price rallying from a low of $18,800 to a high of $21,500, forming a more bullish bias with eyes set for more rallies ahead of its monthly close. The crypto market is looking increasingly welcoming as many altcoins continue producing over 50% gains. The likes of DOGE have seen some great runs recently, rallying from a low of $0.055 to a high of $0.15, with many others as Bitcoin (BTC) continues to lead the charge for more price recoveries. (Data from Binance)

Bitcoin (BTC) Price Analysis On The Weekly Chart.

Bitcoin (BTC) has struggled to regain its bullish momentum in recent times; despite the uncertainty that has befallen the crypto space, the price of BTC has enjoyed a measure of relief after showing so much strength on the weekly low, rallying from a low of $18,800 to a high of $20,500 as the price of BTC formed support above this region for more rallies.

Past weeks have been nothing short of a boring and difficult moment for BTC and the whole of the crypto industry as the price of BTC continued its range between $18,800 to $19,200 before showing strength to rally past this region, acting as a block for price rallies.

After its weekly close of above $20,500, BTC's price looked stronger as the price of BTC geared up for more upside price moves.; the price has faced a minor rejection to break higher to a region of $21,000.

Weekly resistance for the price of BTC – $21,200.

Weekly support for the price of BTC – $20,500-$19,800.

Price Analysis Of BTC On The Daily (1D) Chart

Daily BTC Price Chart | Source: BTCUSDT On Tradingview.com

In the daily timeframe, the price of BTC continued to look strong as the price broke out of its descending triangle, with good volume rallying to a high of $20,800 as BTC price formed a good support around $20,500. Still, the price of BTC faces a little rejection; flipping $21,200 into support would lead to more upside to a region of $22,000 for BTC.

The price of BTC is struggling to break and close above $21,200, which corresponds to the 32.8% Fibonacci retracement value (Fib Value); if the price breaks and closes, we could see the price rally to $22,500 at 61.8% Fib value.

Daily resistance for the APE price – $5-$6.

Daily support for the APE price – $4.5.

32.8% Fib Value – $21,200

61.8% Fib Value – $22,500

Featured Image From zipmex, Charts From Tradingview

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FEG Token Rallies After Recovery of Funds From Team Finance Exploit – Crypto World Headline

Oct 31

This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

Don't forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for BNB Chain and crypto.

If you need tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, cryptonomics explainers, and Trading Tool Kits from BSC News.

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Team Finance hacker returns $7M to associated projects after exploit

Oct 31

The individual who exploited the protocol intends to keep a 10% bounty of the stolen funds.

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Author: Cointelegraph By Ana Paula Pereira

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Bitget Launches 'Bitget Insights' to Enhance Social Trading Initiatives – Press release Bitcoin News – Crypto World Headline

Oct 31

press release

PRESS RELEASE. October 31, 2022 – Leading global cryptocurrency exchange Bitget announces the launch of its new feature "Bitget Insights''. The feature serves to integrate social media with social trading via the Bitget exchange. The launch signifies the next stage in Bitget's crypto social trading initiative, aimed at benefiting both new retail investors as well as seasoned traders.

With Bitget Insights, new traders will have the opportunity to glean insights from experienced traders. Compared to existing social media platforms, Bitget guarantees that all shared insights come from verified and credible traders in the first stage, thus saving new traders time, resources and potential losses resulting from cryptocurrency 'shilling', false endorsements or other crypto scams.

To assure that Bitget Insights provides valuable and insightful views to users, only those traders that meet certain criteria, which include being an actual verified trader on the Bitget platform, are able to share and post with this new feature. In addition, they must have a substantial and verifiable following across various social media platforms. Other traders can follow and take advantage of the insights, such as the technical strategies or market analyses, posted by the verified traders.

Bitget's decision to accredit qualified traders was based mainly on the fact that malicious agents are common, and scams are frequent on other social media platforms. This makes it difficult for new traders to make informed decisions about their trades and investments. Since traders are verified based on actual trading data on the exchange, Bitget Insights aims to provide better protection for new users entering the markets.

Bitget Insights also enables accredited traders to increase their community presence by sharing market views and trading strategies with potentially millions of existing traders on Bitget's global platform. Accredited traders can also benefit from Bitget Copy Trade, its flagship crypto social trading product.

Gracy Chen, Managing Director of Bitget, says, "Innovative trading products and social trading services are Bitget's quintessential and key features. Bitget is a pioneer in crypto social trading thanks to the way it works to improve products through innovation. On 'Bitget Insights', the social trading platform where valuable information is more accessible to everyone, the curated and verified traders and selected opinion leaders can post their chart analysis, technical strategies and articles, to share their insights with followers."

"Above all, we are actively listening to our community and we know that a lot of the information and misinformation about Web3 can be difficult to navigate, especially for new investors. As a crypto CEX (Centralised Exchange), we are in a unique position to help traders and Web3 investors gather information and glean insights from verified traders on our platform. Ultimately, this makes crypto more accessible to wider markets or individuals who might otherwise be hesitant about Web3."

To celebrate the launch of Bitget Insights, Bitget has prepared a User-Generated Content campaign, which includes giveaway and share contest for the users who post original insights and content on the platform. Winners can share up to 100,000 $BGB, souvenirs signed by Bitget's latest partner Lionel Messi, and more. For more information, please visit the Bitget website.

About Bitget

Bitget, established in 2018, is the world's top five leading cryptocurrency exchange with innovative products and social trading services as its key features, currently serving over 8 million users in more than 100 countries around the world.

The exchange is committed to providing one-stop and secure trading solutions to users and aims to increase crypto adoption by collaborations with creditable partners, including Argentinian legendary footballer Lionel Messi, Italian leading football team Juventus, PGL Major's official esports crypto partner, and the leading esports organisation Team Spirit.

For media queries, please contact:

sylvia.huang.yq@bitget.com

rachel.cheung@bitget.com

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Luiz Inácio Lula da Silva wins Brazil's presidential race — what does this mean for crypto?

Oct 31

The future president reportedly said that cryptocurrencies "deserved the attention of authorities," calling for Brazil's central bank to create a framework for digital assets.

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Author: Cointelegraph By Turner Wright

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Harnessing Advanced Security Capabilities in an Evolving World

Oct 31

The fintech industry has seen a wide range of new technological innovations, changes, and threats over the past few years. Finance Magnates spoke with Yuri Hefezt, CEO of Easy Technologies for his in-depth perspective on an evolving industry and his company's role within it.You are no stranger to the fintech industry, can you tell me about your experience and some background about Easy Tech?Coming from the world of financial services, I saw there was a lack of personalization amongst technology providers within the Fintech industry. As such, I established Easy Technologies, or Easy Tech for short - a technology provider that emphasizes not only a strong understanding of Fintech businesses, but also increased customized approaches and targeted communication.Easy Tech prides itself on adopting a customized approach when offering our complete turnkey solution for brokerages. With a dedicated in-house CRM, trading platforms, and more, we present our product and services to potential and existing clients as though we are business partners. This ideology adds an additional vested interest for us, which drives us to constantly optimize our solutions and seek improvements in an ever changing and developing industry. Data security and privacy is paramount. Why is this so, especially within the Fintech sector? What are some common cyber-attack surfaces that Fintech companies face?Financial service providers deal with sensitive information such as client personal details, addresses, and payment information like credit card numbers and banking details. As such, they have an obligation to protect their clients' data, which is many times considered the most valuable part of their business.Today, the industry is facing huge spikes in attacks like brute force, DDoS, and SQL injection. Therefore, we must be proactive in anticipating cyberattacks and employing adequate measures to prevent them.As a SaaS B2B company, what are some of Easy Tech's security protocols? How does Easy Tech protect its platform and client's data?Easy Tech uses the newest and the most advanced technologies to secure its client's data and to make our clients feel safe.We combine multiple security controls to monitor, detect, and combat cyberattacks. Namely, we employ a multi-layered security structure, that ensures if one protection fails, other defenses will still protect and operate smoothly, thereby reducing attack surfaces.Additionally, in order to keep our client's data safe, we encrypt all traffic, data, and disks with SSL, WAF, and 2FA encryptions.How long does Easy Tech keep data? Does it have data retention schedules in place, in line with legal and regulatory compliance?As Easy Tech is fully GDPR compliant, the storage of our client's data is carried out in accordance with their policies. As part of its data subject right of access (GDPR Article 15), we perform cold backups every day and operational backups by replication to another data center. This is to ensure that clients can obtain or even reinstate (closed their account but wish to reopen) their history with us. All such data information retention and backup retention policies are stored according to our terms of service and detailed further within each individual client agreement.What mechanisms does Easy Tech employ to delete or destroy data if requested to do so?According to GDPR Article 17 or right to erasure, we comply by storing our data in encrypted forms. Doing so allows us to prevent fully recovery of data, as even if some data surfaces it is only a partial picture and does not provide consistent data. Additionally, all information clusters are overwritten.Has Easy Tech set up appropriate incident management procedures to handle a security incident?For handling security incidents, we have log monitoring and our own developed detection system. It allows us to react immediately and solve any incident in the shortest time period possible, thereby ensuring complete data security for our users.Did Easy Tech ever have any security issues, and if yes, how did the company combat them?As the hacking industry evolves all the time, incidents happen.In many cases, breaches in security originate due to gaps on the client end. As such, we advise our clients on how to best secure their systems. Additionally, we implement the current best security practices on our end to prevent potential breaches, constantly search and strive for updated and new security protocols, and even engage third parties to assist us in continuously auditing the security of our systems.What data security feature(s) separate Easy Tech from its competitors?Possibly the main security feature that is unique, is that we actively isolate every single client's data from our own and each other's system by hosting them on different instances. Additionally, each instance is a separate system that does not transfer any data to outside services. Doing this reduces our and our client's cyberattack surfaces by limiting the avenues of entry.Does the company plan on adopting new security features, and if yes, which ones, and why?Similarly, to Apple, we have built a complete in-house and closed system. By not relying on outside solutions and providers for our own network, we thereby reduce the number of access points to our platforms. Doing all this makes it more difficult for attackers to penetrate our systems.In addition, we monitor innovations in security all the time and if we consider a particular solution can improve our system, we will then implement it.Where does the company see itself in a few years from now, both security wise and generally?Our company strives to improve and move forward. Naturally, we see ourselves in the future as a leader in balancing protection and performance of our product. Furthermore, we constantly listen to our clientele through our excellent support staff and adapt our services, offerings, and product to fit their business' requirements.

This article was written by Finance Magnates Staff at http://www.financemagnates.com.

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Crypto + Twitter + Binance + Elon Musk बड़ा धमाल होने वाला है Dogecoin buy karein kya? – Crypto World Headline

Oct 31

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Axi's Ben Swann Joins Eurotrader as Chief Technology Officer

Oct 31

Eurotrader, a retail multi-asset broker, has appointed Ben Swann, the Group Head of Technology at Axi, as its Chief Technology Officer (CTO).Swann, an information technology professional with nearly two decades of experience, announced his appointment on Monday.The executive left London-based Axi, an online forex and contract for difference (CFD) trading company, after three years, having joined in November 2019.Marcelo Spina, the <a href="https://www.financemagnates.com/executives/eurotrader-appoints-ex-thinkmarkets-exec-marcelo-spina-as-group-ceo/">recently-appointed</a> Group Chief Executive Officer of <a href="https://www.financemagnates.com/tag/eurotrader-group/" target="_blank">Eurotrader</a>, also announced Swann's appointment. "We are very happy to announce that Ben Swann has joined Eurotrader as our new Chief Technology Officer! Welcome to the team," Spina wrote on Linkedin.Apart from Spina, Eurotrader also recently <a href="https://www.financemagnates.com/executives/eurotrader-onboards-exinitys-martin-couper-as-head-of-global-compliance/">appointed Martin Couper</a>, a former executive at forex group Exinity, as its Head of Global Compliance.Swann's Industry ExperienceBefore Axi, Swann was the CTO at Star Financial Systems, a London-based trading platform provider.During his over 10 years stay at the company, Swann helped to fund and build "a successful technology company developing and hosting retail trading platforms for some of the biggest names in retail derivatives broking."In January 2016, the executive founded and ran on a part-time basis Analytica.ai, a machine learning and big data analytics firm targeted at improving brokerage risk management. Between 2005 and 2009, he was a Development Manager at the forex and CFD trading platform, City Index, where he "led the team that built out the full suite of in-house trading applications, back office functionality and risk management solutions."Furthermore, Swann spent a year at the defunct brokerage firm, MF Global, where he was a Lead Developer specializing in real-time trading applications."[I] worked in the team that launched the industry 1st real-time push technology retail trading platform," he wrote on LinkedIn.Additionally, he worked as a Developer at IFX Markets/ Financial Spreads between 1999 and 2005.

This article was written by Solomon Oladipupo at http://www.financemagnates.com.

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Bitcoin fails to break the $21K support, but bears remain shy

Oct 31

BTC futures and stablecoin margin data shows a lack of appetite from buyers even as Bitcoin gained 7.5% in a week.

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Author: Cointelegraph By Marcel Pechman

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State of The Sandbox Q3 2022 – Crypto World Headline

Oct 31

Key Insights

The Sandbox experienced declines across most KPIs tracked, such as primary and secondary sales volumes, while the number of secondary sales transactions increased.
New LAND parcel mints were paused in Q3 as The Sandbox team and its partners chose to delay most NFT launches until market conditions improve.
The Sandbox Alpha Season 3 has been a major success thus far, reaching a record 341,000 players and recording growth in average play time and player engagement KPIs.
Traditional and crypto-native brand partners continue to be onboarded at a similarly impressive clip as in previous quarters, despite lower trading activity across digital assets.

A Primer on The Sandbox

The Sandbox (TSB) is a platform for creating and hosting entertainment experiences in virtual worlds. In The Sandbox, anyone can create 3D assets like buildings, in-game items, and non-player characters. These assets can then be used to build diverse experiences such as games, music and fashion events, social activities, quests, art exhibits, and contests. The Sandbox offers creators a set of intuitive tools that neither require a background in coding nor in designing experiences. These tools include a 3D editor for making and animating items, a game maker for making experiences, and a game client. The Sandbox is actively working on making these tools as user-friendly as possible to unleash the creativity of its community. For instance, the 3D editor combines different in-game tokens to create user-generated assets.

These user-generated assets are ERC-721 non-fungible tokens that can be monetized on open markets. The Sandbox ecosystem leverages a series of tokenized gaming features including:

SAND – a digital in-game currency used for purchases, monetization, and asset creation
LAND – ownable digital land within The Sandbox virtual world
ESTATE – a combination of LANDs to create a larger plot
GAMES – a bundle of assets and scripting logic to create interactive experiences
ASSETS – 3D virtual images created by players
GEMS – tokens burnt to give attributes to assets
CATALYSTS – tokens burnt to create ASSETS

Thanks to the tradeable nature of these user-generated assets within its virtual world, The Sandbox has robust in-game economics.

Performance Analysis

LAND Parcel Distribution

There is a finite amount of LAND in The Sandbox — 166,464 parcels. New LAND parcels are typically minted (primary sales) through publicly scheduled minting events (fixed price or English Auction), but private sales to partner projects also occur. During these auctions, LAND is usually sold on a first-come-first-serve basis. Prices also vary based on rarity (regular vs. Premium), and larger ESTATES are often auctioned on OpenSea. Not all mints result in immediate sales, however. The Sandbox will also mint LAND for the purpose of private sales to partners to be completed at a later date.

With only 165 LAND parcels minted in Q3, the proportion of LAND parcels that have been distributed has increased by a modest 0.1% of the max LAND supply since the previous quarter. As of Q3, 67.4% of the maximum supply has been distributed. The rate of mints has slowed dramatically over the past quarter, as public LAND mints have effectively been paused in the face of recent market turbulence. The subsequent loss in user appetite for digital assets — a phenomenon experienced across the broader crypto market — has also had an effect.

The 165 LAND parcels minted in Q3 were solely related to private sales that The Sandbox regularly conducted with new partner brands joining the ecosystem. This conscious slowdown in LAND circulating supply growth is prudent given the recent market volatility and has at least partially offset some of the negative price pressures caused by a more risk-averse collector-base. The Sandbox anticipates releasing new LAND to the public through a series of brand partner launches planned for mid/late November. Though, more details regarding these minting events have not yet been announced.

LAND Primary Sales

Note: On-chain tracking of Private Sale, ESTATE Sale, and other non-standard sales data is limited without first having details on transaction size, wallet address, or other identifiable characteristics (often not readily available information). The Sandbox Team provided primary sales, feesalty fee, transaction fee, and secondary sales data to fill gaps in publicly available datasets.

The Sandbox recorded $0.6 million in primary LAND sales volume on 165 parcels minted in Q3'22. The sales are wholly attributable to private sales conducted with brand partners that recently joined the ecosystem. Private sales to brand partners are often used to bootstrap the formation of a new community within The Sandbox, which will be built and supported by the underlying brand partner. These private sales are typically followed by a public sale to mint and distribute additional LAND parcels in the surrounding area. The party purchasing LAND through a private sale is often not revealed until the subsequent public minting event has been announced.

The $0.6 million in primary LAND sales in the most recent quarter is a steep 93% decline from the $7.7 million in Q2 sales and a continuation of the trend since the Q1'22 peak. This decline is at least partially attributable to the ~39% QoQ collapse in average USD/SAND conversion rate, with SAND ending the quarter at $0.85 and averaging $1.11 throughout Q3. The price of SAND peaked in Q4'21 at ~$7.62 and has since fallen 89% as of Sep. 30, 2022.

Using LAND mints as an imperfect proxy for LAND parcels sold, average sales price during the latest quarter was ~$3,344 per unit, which has rebounded from the $2,156 estimated average sales price for Q2. However, this rough estimation neither accounts for the rarity of the parcels (normal vs. premium) nor other qualitative variables that may impact the price of any individual parcel (e.g., location).

Non-LAND Primary Sales

Non-LAND primary sales represent other NFTs sold and used within The Sandbox Ecosystem. The category refers primarily to Partner IP Avatar Collections, ASSETS, and User-Generated Content (UGC is currently only available in a limited capacity and not available for purchase). Due to the collaborative nature of the partner IP collections, these sales tend to be more volatile in regularity and size.

During Q3, The Sandbox generated $1 million in non-LAND primary sales. Most of these sales came through Special IP partners (typically in-game avatar NFTs) driven by People of Crypto and Steve Aoki's Avatars and Metazoo collections. Specifically, Special IP collections sales accounted for ~$790,000, while general in-game ASSETs accounted for the remaining ~$220,000. This compares very favorably to the $257,000 in non-LAND primary sales captured in Q2, representing a 293% increase QoQ. The high growth speaks to the irregular cadence in which these sales are generated. Also, the undulating sales may be an indication that markets have somewhat stabilized since the highly turbulent Q2 months.

Revenue

Revenue for The Sandbox can be divided into three main categories:

LAND & ESTATE primary sales via public auction or private sales.
Non-LAND primary sales via Special IP collections, avatars, and in-game ASSET NFTs.
Royalty fees and transaction fees are generated on secondary sales volume and public primary sales volume, respectively, as a 5% commission. The Sandbox Foundation and The Sandbox Company split this fee evenly (2.5% each).

Historically, Primary LAND & ESTATE sales have typically accounted for 65%-95% of total revenue. The second largest revenue contributor has historically come from royalties, given the large volumes from LAND trading on the secondary market. Transaction fees are a function of primary sales and have typically only accrued meaningful revenues when LAND minting volumes are high. Of the three main categories, Non-LAND primary sales have often been the smallest contributor to revenue due to the inconsistency of transactions, which are often non-recurring and dependent on the brand partners that collaborate with The Sandbox.

Total revenue for Q3 landed at $2.1 million, down 78% QoQ. Q3'22 primary sales only generated $20,700 in transaction fees, down 73% QoQ. The decline in transaction fee revenue is primarily the result of a pause in public LAND minting in Q3, along with a delay in Special IP collection launches as partners have chosen to wait for market conditions to improve. The $500,000 in Q3 royalties was a notable 69% QoQ dropoff on account of a 68% decline in secondary sales volume. In contrast to typical trends, non-LAND primary sales ultimately led the revenue categories in Q3, with $1.0 million in sales.

As all of The Sandbox's revenue and sales volume is denominated in SAND, the 39% depreciation in USD/SAND average conversion rate was a major driver of the revenue figures listed above. The other major driver being general risk-averse buying behavior demonstrated by market participants that impacted all risk assets, and especially those more speculative categories such as digital assets.

Secondary Sales Volume

Despite experiencing a 68% QoQ drop, secondary sales remain the leading contributor to USD volumes for The Sandbox, with the vast majority coming from g LAND parcels trading. Secondary sales peaked at $283 million in Q4 2021, followed by a 97% retracement over the three consecutive quarters since. The $8.8 million in Q3'22 volume is actually the first YoY decline in quarterly secondary sales that have been recorded, given the rapid rise in 2021 LAND sales has made for a difficult comp period while in the depths of this bear market.

The QoQ drop in USD volumes is driven entirely by the average selling price of LAND, given that The Sandbox actually saw a 47% increase in the number of secondary LAND sale transactions in Q3. This price decline is at least partially caused by the ~39% QoQ fall in average USD/SAND conversion rate in the most recent quarter, which has fallen as low as $0.84/SAND and has averaged $1.11 throughout Q3 ($1.84 average in Q2).

Network Activity

The number of distinct wallets purchasing land ("Active LAND Buyers") continued to slide in Q3 to 1,970 unique buyers, down 42% QoQ. This follows last quarter's 57% QoQ decrease from the 7,805 active buyers recorded in Q1'22 and well below the ~15,000 distinct wallet addresses recorded during the Q4'21 peak. The number of distinct land parcels changing ownership ("Active LAND IDs") declined at a steeper 61% QoQ, as landowners have seemingly braced for the deepening bear market.

As referenced in our previous report, participants in Alpha Seasons can also be used as a proxy indicator of network activity. Alpha Season 3 started on August 24 and will be open until Wednesday, November 3. Per gameplay figures provided by The Sandbox, 341,000 players have thus far participated in AS3, representing a ~16% increase from AS2, with one more week remaining in the current season. Average playtime per user also increased an impressive 88% from 203 to 382 minutes, which aligns with the increase in experiences this quarter to ~90 compared to ~35 in Alpha Season 2. Additionally, peer-to-peer engagement has risen through the past three seasons, with chat messages per user growing from two in AS1, to five in AS2, and most recently reaching 29 messages per user in AS3.

Qualitative Analysis

The Sandbox Ecosystem: Notable Events

Partnerships, Integrations, and Investments

Source: The Sandbox

Note: Recently announced partnerships plan to unveil their location through a future LAND auction and thus aren't currently reflected on the game map.

As highlighted on the new metaverse map, now with enhanced 1x1 LAND parcel detail, The Sandbox partner community continues to grow in both size and diversity. Given the recent turbulence in the market, many partners have chosen to delay the launch of their special IP NFT collections until conditions stabilize. However, throughout Q3, new partnership announcements continued to roll in. As a result, the list of likely partner IP collections to launch down the road has grown. The following entrants were welcomed into The Sandbox community:

Gaming
- FaZe Worldby FaZe Clan (gamified experiences to engage with one of the world's largest gaming organizations).
- Sofstar Metapark by Softstar (experiences showcasing IP from the classic PC games developed by this iconic Taiwanese brand).
- Monkeying Around Experience by Animoca Brands' Metaprints and Forj.
- Atari is showcasing two exclusive experiences during Alpha Season 3 (Sunnyvale and Crystal Castles)
Music
- deadmau5 Tower of Light collection and playable experience in Alpha S3.
- Steve Aoki "Metazoo" NFT Collection and Aoki Avatars for use in the Aokiverse Alpha Season 3 experience.
- The Sandbox launches WMG LAND and Sueco's "Split Personalities" experience in The Sandbox Alpha Season 3.
- Avenged Sevenfold launched their first experience in The Sandbox in Alpha Season 3.
Entertainment
- Care Bears virtual experience developed for Alpha S3.
- The Walking Dead NFT collection and multiplayer survival game in Alpha S3.
- Paris Hilton announced experiences for fans to celebrate Halloween and interact with her in her virtual Malibu Mansion.
- Playboy's "MetaMansion" digital gaming experience is based on the Rabbitar community.
- Hell's Kitchen with Gordon Ramsay by ITV Studios opens up the first "virtual restaurant" and chef-themed game in The Sandbox.
Diversity and Inclusion
- People of Crypto Lab's debut as the first-ever diversity, equity, and inclusivity hub in the metaverse.
- Metaverse Prideas part of the "Sandbox Belonging Week" contains three unique experiences.
Fashion and Lifestyle
- ISART Digital School, an exhibit in the NFT Institute experience in Alpha S3.
- Tony Hawk and Autograph partner to create the largest virtual skatepark ever made along with an accompanying NFT collection of avatars and skateboards.
- ComplexLand 3.0 by Complex Networks, a collab with The Sandbox that will focus on streetwear and sneaker culture within the metaverse.
Traditional Industries & Infrastructure
- Keb Hana Bank to provide banking services via a virtual branch in the metaverse in an effort to cater to the next generation of customers.
- AXA Hong Kongjoins the Mega City cultural hub within The Sandbox to engage with customers in a new interactive way.
- Renault Korea Motors to offer digital automotive experiences as a new medium of customer engagement.
- DBS BetterWorld launched to showcase the Singaporean bank's ESG principles and engage with customers.

The Sandbox Invests $1.7 million in INDEX GAME

In addition to the growing list of brand partners planning to invest their resources to build within its metaverse, The Sandbox also announced an investment of its own in Q3. In August, INDEX GAME, a Hong Kong-based metaverse agency, welcomed a $1.7 million investment from The Sandbox. The agreement includes an option for The Sandbox to increase its investment up to $6 million by 2023.

Launching in 2021 as just a small independent game studio, INDEX GAME has expanded its scope over the past year by developing a wide array of play-to-earn style content, adding robustness to virtual worlds. The metaverse agency has worked with over 15 brands and IPs to build engaging experiences within The Sandbox. As more brands and industries choose to onboard into the virtual world, INDEX GAME will now be able to work even more closely with The Sandbox to better facilitate the conversion of these IPs into immersive experiences.

The Sandbox Alpha Season 3

Source: The Sandbox

On August 24, The Sandbox launched its highly-anticipated Alpha Season 3 event. This third installment lasts 10 weeks, making it the longest season to date. Over these weeks, participants can access more than 90 digital experiences while completing quests and leveling up their avatars. As with past seasons, there are numerous raffle opportunities for prizes as well as a leaderboard for those seeking competitive play. In fact, the leaderboard has been tweaked via the implementation of Ethos Points, which players gain by completing quests. A certain number of Ethos Points will be awarded depending on the difficulty of the challenge and how the player performs compared to peers. The top 5000 players will earn SAND tokens, and at the end of the season (November 3) the first-place winner will earn a whopping 30,000 SAND (USD $25,000).

The Sandbox and The Sandbox Game Maker Fund will be responsible for ~37 available experiences. One of the emblematic features of Season 3, however, is the vast diversity in "experiences" representing well-known brands across traditional and crypto-native media and entertainment, including:

Snoop Dogg
The Walking Dead
Deadmau5
Sueco
Warner Music Group
Ubisoft's Rabbids
The Smurfs
Steve Aoki
Care Bears
Atari
BAYC
World of Women
Metapride

Even more refreshing will be the 12 user-generated content (UGC) experiences from independent creators as well as the 16 "Game Jams" contest submissions that will be competing for SAND.

Beyond Season 3, The Sandbox is preparing multiple experiences around brands' and celebrities' universes to create more immersive experiences for their individual communities and highlight new ways to engage in the metaverse.

Source: The Sandbox

Additionally, for the first time, "playable external avatars" have been introduced into The Sandbox. This means that some of the most iconic NFT brands have been integrated into the game as voxelized avatars, with their owners able to play as them. The debut of these "external avatars," along with the implementation of guaranteed SAND awards for those playing with avatars closely partnered with The Sandbox, are just some of the ways TSB is attempting to reward their most loyal, crypto-native players.

Asset Publishing Is Now Open

On July 12, Sandbox announced that all users could now publish the assets they create using the Game Maker tool. At the moment, these custom experiences can only be shared publicly through the Game Maker Gallery. However, eventually, the minting and sale of these assets as NFTs on The Sandbox Marketplace will also be made available. This rollout represents another step in the development of enhanced LAND functionality for LAND owners. The core investment thesis behind LAND speculation sits the expectation that one day landowners will be able to monetize their parcels via immersive in-game experiences.

Enhanced SAND Staking Option for LAND Owners

On September 22, The Sandbox unveiled a new "high APR" SAND staking option for LAND owners. LAND owners on the Polygon network are eligible to receive increased SAND rewards when they stake their SAND tokens. This program will distribute up to 250,000 SAND rewards per week for the first 12 weeks, with a cap of 500 SAND able to be staked at the higher APR per LAND parcel owned by the user. Notably, The Sandbox team developed a tool to detect LAND transfers, meaning LAND owners will not need to lock their land in the staking contract to be eligible for the increased SAND rewards. As such, LAND owners will be able to stake their SAND while maintaining complete custody of their digital assets.

This release comes as The Sandbox continues to seek ways to deliver additional value to LAND owners, with a focus on rewarding the loyal users choosing to remain in the ecosystem during this bear market. While this new staking option is exclusive to LAND owners, all TSB users can stake their SAND through the existing SAND staking contract or earn additional SAND through liquidity provided via the SAND/Matic Pool. The various staking options available are displayed in the Staking Dashboard, able to be viewed when users sign into their profile page on The Sandbox official website.

Roadmap

Enhanced Integration with the Creator Economy via User-Generated Content

Currently, in-game "user-generated content" (UGC) on land parcels is limited in scope and availability, but there are plans to gradually roll out additional functionality as the development of The Sandbox continues. With the unlock of asset creation for all users via the Game Maker tool, The Sandbox team has demonstrated its commitment to adding value for landowners. This unlock is a step in the direction that users have been waiting for. At the moment, UGC can only be shared via the Game Maker Gallery, without an option to list these in-game assets to The Sandbox's marketplace. However, The Sandbox team has relayed plans for further functionality by the end of 2022.

The Sandbox has also partnered with Digital Hollywood, a school for human resource development in IT and digital content. This partnership was described as an opportunity to train voxel artists and game makers in Japan, preparing them to create content in The Sandbox. This move aligns with a global trend focusing on the expansion of the "creator economy," which mirrors many of the same principles of Web3. The Sandbox's business model, which is rooted in the free flow of digital goods from independent creators to users, fits perfectly in this global shift toward creator empowerment.

Full Transition to Layer-2

In an effort to promote sustainable, more affordable participation in the ecosystem, the following features are expected to transition to Polygon over the coming year:

LAND sales on Polygon (the next public minting event will be held on Polygon)
LAND staking features
ASSET smart contract to be deployed/bridged
Open ASSET minting contract to be deployed
ESTATE creation and modification
Experience publishing on LAND through Polygon

Closing Summary

In Q3, a chill swept through the crypto gaming space as crypto summer turned to winter – an extension of trends that began in Q2. User figures, sales, and general trading activity all fell with many market participants entering "hibernation". Many of these same trends impacted KPIs we track for The Sandbox. However, The Sandbox team has no plans to hibernate.

While some users have surely left the ecosystem, who remains are the crypto-natives. Here to stay, they were treated to the latest Alpha Season, which focused on rewarding The Sandbox's most loyal users and NFT holders. Alpha Season 3 brought with it the most content yet. It also showed off one of The Sandbox's biggest strengths – an ability to procure partnerships and develop a community that melds the traditional and crypto worlds into one.

Even now, as the market freezes over, new partners have chosen to invest time and resources into this virtual world. For many brands, The Sandbox will be their first venture into "the metaverse". That's a powerful reputation that will pay dividends to The Sandbox and its loyal users for years to come. In the meantime, though, the core team should continue focusing on delivering rich, new experiences, while empowering creators that will ultimately shape its future.

________________________________________

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This report was commissioned by The Sandbox, a member of Protocol Services. All content was produced independently by the author(s) and does not necessarily reflect the opinions of Messari, Inc. or the organization that requested the report. Paid membership in Protocol Services does not influence editorial decisions or content. Author(s) may hold cryptocurrencies named in this report.

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This report is meant for informational purposes only. It is not meant to serve as investment advice. You should conduct your own research, and consult an independent financial, tax, or legal advisor before making any investment decisions. Past performance of any asset is not indicative of future results. Please see our terms of use for more information.

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Can Engage-To-Earn Change the Metaverse Experience? – Crypto World Headline

Oct 31

Dream Idols: Fantasia by X World Games will introduce the new Engage-to-Earn concept into its platform - but can it bring users into the metaverse?

New Engage-To-Earn for Metaverse

Blockchain engagement has undergone several evolutions over the past year, changing nomenclature from PlayToEarn to PlayToOwn to PlayAndEarn, among others. The latest evolution, Engage-To-Earn, looks primed to help change the way users interact in the metaverse.

Dropping in via a BNB Chain blog on Oct. 21, the novel concept of Engage-to-Earn is built to help solve poor interactivity in metaverses and blockchain gaming. The blog introduces a new project from the team behind X World Games––the popular BNB Chain trading card game––called Dream Idols: Fantasia.

"The Dream Idols project is one such platform that aims to introduce a fully functioning Engage-to-Earn platform for their users," writes Dardania.BNB. "...But whether Engage-to-Earn or any other protocol will succeed depends entirely on the dedication of the community surrounding it."

The Engage-to-Earn concept will give users passive income for how much time they participate during metaverse events and interact within the virtual world. Behind the recent news that the unicorn Ethereum metaverse project, Decentraland, has just a few dozen active monthly users, and many metaverses even less, new innovations for engagement are needed. Can Engage-to-Earn be the incentive that coaxes users back into the digital world?

Dream Idols Builds Hype for Engage-To-Earn Launch

The project highlighted in the BNB Chain blog, Dream Idols, has begun creating hype around the project's innovations and is getting ready for launch. With a launch back in October 2022, the team is hoping a wave of attention can show users "what the ultimate metaverse concert will look like."

The Dream Idols team already released the first Dream Idol character trailer in August 2022, but a new Medium blog, from Oct. 30, brought more news to the community about the upcoming expectations. A second trailer is in the works, debut expectations are aligned for the eight Dream Idol characters, and the announcement of the first metaverse experience event in Spring 2023 gives the community a proper timeline to follow and prepare for engagement.

"As with any SocialFi project, we want to always provide opportunities for our fans to receive rewards for their time spent supporting the project," the Medium blog explains. "That's why the Dream Idols team will be injecting up to $1 million dollars worth of tokens as winnable prizes in our Metaverse Concert Pool."

With a big war chest of tokens to dole out, the novel concept will indeed have enough to entice users to come to Engage-to-Earn in the first events. The beta launch on Oct. 26 to the Binance Mainnet gives the team plenty of time for trial and error before the Spring. The metaverse looks like a key lynchpin to the next stage of mass adoption, and this project's timeline looks sound for reaching the projected milestones.

What is Dream Idols: Fantasia:

Dream Idols: Fantasia is crypto's first virtual idol group consisting of four themed versions of NFT hero characters from the popular P2E video game Dream Card incorporated with SocialFi fan economics - developed by X World Games.

Where to find Dream Idols: Fantasia

Web | Twitter | Telegram | Discord | GitHub

What is X World Games:

Founded in 2018, X World Games ("XWG") aims to build the next-gen decentralized gaming metaverse. X World Games' vision is to build a diversified gaming ecosystem that connects traditional gamers with the blockchain world and invites more game developers into the crypto space by creating and providing the underlying blockchain framework. With its gaming innovation, crypto game - Dream Card & Hero Card, Metaverse entertainment - Dream Idols, NFT Marketplace and DeFi Pool, X World Games now serves over 2 million registered gamers. It has quickly become the fastest-growing crypto gaming platform in the ecosystem. X World Games is headquartered in Singapore with a 100+ dynamic team located worldwide.

Where to find X World Games:

Web | Twitter | Telegram | Discord | GitHub

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Bitcoin: Why BTC's fate may be at the mercy of bears over the next few days – Crypto World Headline

Oct 31

After a long green week, Bitcoin [BTC] might have fallen back into the hands of sellers who seemed committed to sending the coin below $20,000. According to a CryptoQuant analyst, Maartunn, market sell orders have triumphed over the buying power since BTC hit $20,900 on 30 October.

The analyst noted that the buy orders were nowhere close to matching up. This brought into question the viability of Bitcoin holding on to its current price. In clear terms, Maartunn said,

"At this moment, Bitcoin is trading around $20700 with the weekly and monthly-close closeby. During this period the Market Sell Volume is outperforming Market Buy Volume, which makes me wonder for how long Bitcoin can stay on this price-level."

Here's AMBCrypto's Price Prediction for Bitcoin [BTC] for 2023-2024

It seemed that Maartunn's fear was already coming to pass. This was because data from CoinMarketCap showed that BTC had lost 1.70% of its value in the last 24 hours. At the time of writing, BTC was trading at $20,459.

Holding the garment helm might not…

In assessing the short-term Spent Outfit Profit Ratio (SOPR), CryptoQuant showed that the value continually rose above the value of 1. This implied that short-term investors had made profits recently. This also indicated that they were selling off their holdings. Hence, if this activity establishes its stance on the market, investors still holding would risk losing the recently gained profits.

Source: CryptoQuant

In another update by another CryptoQuant analyst, long-term holders might not be left out of the equation. Tomáš Hančar, the analyst, pointed out that the BTC's stay below accumulation and redistribution levels have been more than 2012 and 2020.

With 138 days already spent below the level, Hančar stated that it was unlikely that BTC would avoid another market collapse before any long bullish run. This situation could therefore, invalidate possible bullish projections.

Source: CryptoQuant

Additionally, it might seem that long-term holders were not exempted from their participation in selling. According to Glassnode, the Bitcoin-adjusted Coin Days Destroyed (CDD) was 0.1588 at press time.

Since it was higher than the levels recently recorded between 17 July and 15 October, there was a high possibility that the number of coins sold by these holders had constantly increased. This implied that there was selling pressure on all fronts. Due to this, BTC bears might regain their stronghold of the market.

Source: Glassnode

Loyalty is not everlasting

On the other hand, the 24-hour active addresses, which increased incredibly on 26 and 29 October, had taken a fall. According to Santiment, the addresses stood at 841,000 at press time. This was an apparent decrease from over 1 million on 26 October. This data inferred that fewer buyers were interested in Bitcoin or having successful transactions with it.

Be that as it may, the one-day circulation had also shredded its initial increase. The BTC circulation in the last 24 hours at press time was 24,500. With the state of these metrics, it was evident that bulls might need bears to take their hands off the gear to regain command.

Source: Santiment

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Which Bitcoin Monster Do You See In The Mirror?

Oct 31

Which one of these four monstrous archetypes describe how you view your investment in bitcoin?

This is an opinion editorial by Will Schoellkopf, author of "The Bitcoin Dog" and host of the Bitcoin podcast "It's So Early!"

Halloween is coming up and it's time to face your fears. Can you honestly look at yourself in the mirror and not see something scary looking back?

I will draw inspiration from Dawdu Amantanah's article in Satoshi's Journal for four different Halloween monsters you may see in the mirror based on which type of bitcoin investor you are: newbie, technocrat, trader or maximalist.

To the newbie in the mirror, AKA Casper the Friendly Ghost:

So you want to buy bitcoin — but what if you don't want to be an investor? What if you just want to fly around as a friendly ghost and don't want to evaluate risk/reward responsibilities? Are you willing to just save the value of the work you've done for the future without getting tempted to join the other ghouls in their shenanigans?

To the trader in the mirror AKA the Boogeyman:

How tempted are ye to trade; "It's a way to make money off of bitcoin!" When bitcoin is the money! Are you going to spin that altcoin roulette wheel or keep rolling the dice for snake eyes? If the Boogeyman trades his bitcoin for fiat, is he really a Bitcoiner — or a monster?

To the technocrat in the mirror, AKA Dr. Jekyll and Mr. Hyde:

Are you sure you're not more attracted to "blockchain technology" than to Bitcoin? Dr. Jekyll appreciates proof-of-work and decentralized money, but when you hear about other protocols doing a "Merge, Surge, Verge, Purge, And Splurge" does Mr. Hyde emerge? Are you more tempted by zk-SNARKs, danksharding, and soul bound NFTs or are you content with an ossifying blockchain that wants to simply be a once-in-a-civilization monetary revolution for the world?

To the maximalist in the mirror AKA the Zombie:

If you truly are a maximalist, are you ready to be declared "dead" over and over again? Bitcoin is a volatile asset that's lost 90% of its value in short order many times. Can you become the living dead, get back up every time the price falls down, and HODL onto your "risky" bitcoin for decades? What is dead may never die!

To the final boss in the mirror AKA your reflection:

For some, the scariest monster of all is to look in the mirror and see your own worst enemy, yourself.

But stand firm! Just as:

1 BTC = 1 BTC

You = You

As you journey down the Bitcoin rabbit hole, you'll find the greatest return is not the purchasing power of your satoshis, but what you learn about yourself along the way.

I've learned the more I give the more I receive, so I'm happy to contribute more content to a medium for the plebs like Bitcoin Magazine!

Thank you for your support during my scary journey down the Bitcoin rabbit hole. I hope this article helps your self-reflection and keeps your torch alight as you press on further.

This is a guest post by Will Schoellkopf. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.

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Why Bitcoin Will Crush Opposition At $21K, Green November Likely – Crypto World Headline

Oct 31

Bitcoin is hanging out below resistance at $21,000 and could be gearing up for another leg to the upside in the coming days. The cryptocurrency broke out of a range last week, trending higher and reclaiming previously lost territory.

At the time of writing, Bitcoin (BTC) trades at $20,300 with sideways movement in the last 24 hours and a 6% profit in the previous days. This week might bring more volatility to the market with the U.S. publishing new economic data.

Bitcoin BTC BTCUSDT — BTC's price with small losses on short timeframes. Source: **BTCUSDT Tradingview**

Fed Pivot Takes Shape, Bitcoin Likely To Benefit

Per a recent market update from trading firm QCP Capital, the crypto market enjoyed "much-needed positivity." There has been a lot of speculation regarding the reasons for the upside short time trend, but the macroeconomic conditions are the most likely cause.

The U.S. Federal Reserve (Fed) is hiking interest rates to slow down inflation, and this monetary policy is wreaking havoc across global markets. As a result, the U.S. dollar has seen its highest levels in 20 years while investors take shelter amid economic uncertainty.

In this environment, nothing but the U.S. dollar thrived; other assets, including Bitcoin and Gold, and currencies, particularly the Euro, the Japanese Yen, and the British Pound, have seen losses. In that sense, the Fed is between a sword and a hard place.

The financial institution can continue hiking and tightening monetary conditions, but the pressure from the U.S. allies and elected officials is proving challenging. The market has begun pricing in a dovish Fed, according to QCP Capital, providing support for the Fed pivot narrative.

This thesis is bullish for Bitcoin and risk assets and contemplates a shift in the Fed's monetary policy to bring some relief to the market. The trading firm records a decline in the possibility of another 75 basis points hike for December.

A New Narrative To Save BTC?

The possibility of the Fed's hiking at 75 bps dropped from 55% to 45% and could continue to decline due to internal and external pressure. Recent reports show that the Fed itself is facing the consequences of the current economic landscape.

The Fed is running an operating loss as it pays more to banks and money funds on interest than it earns on its securities portfolio.

The central bank, which sends all surpluses to the Treasury, can create an IOU so the loss doesn't affect its operations https://t.co/1UepiR5HgZ

— Nick Timiraos (@NickTimiraos) October 31, 2022

QCP Capital wrote:

Other central banks globally have already begun to show dovishness with the BoC being the first to hike +50bps (vs +75bps expected) and the ECB easing their forward guidance, suggesting that they are nearing the end of their hiking cycle earlier than expected.

However, traders should be cautious of overly bullish sentiment. Bitcoin is still susceptible to macro forces in the short term, and the crypto market might negatively react to a "persistent hawkishness from the Fed," QCP Capital concluded.

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The Trojan Horse of NFTs – Crypto World Headline

Oct 31

October 31, 2022, 10:20AM EDT

• 9 min read

Quick Take

Reddit has sterilized NFTs by using euphemistic lingo.
Through this savvy rebranding, Reddit has managed to infiltrate NFTs into a community that has been notoriously opposed to NFTs.
Although the number of wallets holding a collectible avatar has surged to a monumental 2.9mm, only a tiny fraction has traded collectible avatars on the secondary market.

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Gain access to this research piece and 100s of others, including ecosystem maps, company profiles, and topics spanning DeFi, CBDCs, banking and markets. Together with additional services, we help organizations understand what's happening in the rapidly developing digital asset ecosystem.

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Bitcoin Technical Analysis Report | 31st-October-2022 – Crypto World Headline

Oct 31

BTC begins a key week of domestic and macro events trading above $20,000. After its highest weekly close since mid-September, BTC/USD remains macro-pegged to a higher trading range. Bulls have been keen to completely turn the tide, while warnings from more conservative market participants continue to call for entry into macro lows. So far, the war between the two sides and any internal or external triggers have had a temporary effect. This first week of November, the Fed will take a decision on the benchmark interest rate hike which is being priced at 0.75%. The global volume is down by more than 15% while the BTC dominance is at 38.92%.

At the time of writing, BTC was trading at $20,555.

BITCOIN was trading from $18,000 to $20,550 for a few weeks. The asset finally gave a breakout above the range and made a high of $21,020. However, the bulls are struggling to gain momentum and the asset is facing rejections at higher levels and has failed to give closing above $21k. Currently, BTC is hovering around the support of $20,550. Once BTC sustains above $20,550 it can go further up to $22,500 whereas $19,750 (50-Day Moving Average and $17,500 will act as strong support for the asset. $22,500 – $22,750 will be the major hurdle for the bulls.

Key Levels:

Support 2	Support 1	Asset	Resistance 1	Resistance 2
$15,000	$17,500	BTC	$22,500	$28,500

Disclaimer: This report is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate. The Company has prepared this report based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein. This report is preliminary and subject to change; the Company undertakes no obligation to update or revise the reports to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Trading & Investments in cryptos viz. Bitcoin, Bitcoin Cash, Ethereum etc. are very speculative and are subject to market risks. The analysis by Author is for informational purposes only and should not be treated as investment advice.

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Bitfinex Alpha | Inflation war far from won, but Bitcoin is outperforming tech stocks

Oct 31

With revelations last week that US Gross Domestic Product in the third quarter was still unabashedly strong on a real basis up 2.6 percent, and the latest core Personal Consumption Expenditure index above 5 percent, the Federal Reserve's ongoing battle with inflation is not over.

While this means we are almost certain to see another significant hike in rates following this week's Federal Open Market Committee meeting, longer term, there may be some light at the end of the tunnel.

Final sales of private domestic purchasers, which excludes volatile trades and inventory swings, edged up by only 0.1 percent in Q3, providing some small evidence that rising interest rates are beginning to weaken demand.

And while we anticipate that expenditure in the economy will continue to increase in the fourth quarter, as inventories and a strong dollar provide a tailwind, the upcoming holiday season in the US usually leads to a decrease in spending in the new year. Dwindling savings rates should also accelerate this trend, and as the midterm elections in the US approach, the expected uptick in political advertising is expected to further weigh on consumer sentiment. We expect the economy to shift gears next year, ushering in a new period of slower growth characterised by continued restrictive monetary policy.

Meanwhile on-chain, while there have been crushing declines in the value of Decentralised Finance (DeFi) protocols, as the crypto winter chills decentralised lending, zoom out and the overall picture for crypto is not so bleak. Bitcoin and Ether have performed better than stock indices over the past three months, and despite rate hikes and geopolitical uncertainty, have held up better than the Nasdaq100. On a year to date basis, BTC's negative 56 percent return and ETH's negative 59 percent return are significantly better than the performance of tech stocks, which has seen Meta fall by 71 percent, and Snap by 80 percent.

Indeed, by mid-October, we saw the lowest correlation between Bitcoin and stock indices since the first week of January, reaching zero at one point, indicating no statistical association between the two assets. (Correlation has since increased again as the earnings season swung into gear) It's therefore clear that the performance of cryptocurrencies, while impacted by economic outcomes and economic projections, were perhaps as not affected as some might have anticipated.

In this week's Bitfinex Alpha we also explore in our Learning Section how stablecoins continue to provide a source of stability in volatile markets, and in particular how USDt has continued to resolutely hold its value. We also highlight how crypto lending and staking services provide a source of growth if you just want to ride out the winter by hodling.
In our news section, we revisit important innovations that were unveiled during the week including the enablement of payments on Keet.io, the peer-to-peer (P2P) chat and video app, and the launch of Pear Credit, a P2P credit system that allows issuers to create P2P credit tokens.

The bear market is clearly for building. Have a great trading week.

Download Full Report

The post Bitfinex Alpha | Inflation war far from won, but Bitcoin is outperforming tech stocks appeared first on Bitfinex blog.

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Is Blockchain Decentralization a Myth? – Crypto World Headline

Oct 31

Is true blockchain decentralization achievable or even desirable? This is the big subject of our newest BSC News Roundtable discussion.

BSC News Roundtable on Blockchain Decentralization

Welcome to the BSC News Roundtable, where we leverage the expertise of our staff (inside and out of the newsroom) to discuss important topics in blockchain and crypto.

In this edition, we pondered the big question: "Is blockchain decentralization a myth?" In doing so, we built off our last Roundtable, where we discussed the $580 million BNB bridge exploit and BNB Chain's ability to quickly convince validators to temporarily pause activity on the chain.

All BSC News staffers who participated in the Roundtable agreed that decentralization is a myth, with several pointing out how chains like BNB, Ethereum, and even Bitcoin are more centralized than might initially meet the eye.

As to the benefits of decentralization, and whether it is desirable or even possible to achieve true decentralization, opinions were more varied.

Read on to view highlights from the discussion:

Kyle Heise, BSC News Director of Content based in California with a background in diplomacy, linguistics and technology, and a penchant for meme projects

"I've had a mantra basically the whole time I've been in crypto, and it's been that decentralization is a myth. I've never been able to shake this. If you think about BNB Chain, it's centralized around its validators. It's a very small amount of validators. You can almost count them on your fingers and toes."

"People like to talk about how Ethereum is truly decentralized. But in recent weeks, we've seen that only five entities hold two-thirds of all staked ETH. So all that staked ETH is centralized. Going further, look at the recent actions of Sam Bankman-Fried and the regulatory solutions he's putting forth here in the United States, where he more or less wants to have DeFi mirror traditional finance in a lot of ways. And there's been a lot of shouting at him in the past few weeks about that because people are fearful that it's going to become way more centralized than it should be."

"Bitcoin is really the true DAO -- a Decentralized Autonomous Organization. It's potentially the most decentralized crypto asset we have to date, which is why it is still the most powerful digital asset in existence. It is still the purest form of decentralization that we have. It's likely still the best tool to lead us toward a more decentralized life or more decentralized digital world in the future."

"To me, decentralization is 100% a myth. We have to be able to acknowledge as an industry, as a group, that we don't live in this perfectly decentralized world, that there are still several actors who hold a lot of sway and hold a lot of power. That's not a world we should be trying to preserve."

*****

Andrew Sawa, BSC News Journalist based in Nigeria, with a background in fintech and an interest in blockchain and Web3

"I don't know if there is a consensus definition on what decentralization should be or what decentralization is for blockchains."

"If you look at it in a real sense, even Bitcoin, which I think of as the gold standard of crypto, it's by far the most decentralized but when you look at the mining pools you'd see it is relatively centralized with a few of these pools controlling over 50% of the hash power."

"Decentralization is something that the users, the masses, the community want to be a reality. People have lost faith in centralized authorities, big governments, big organizations. As of today, we have to be sincere with ourselves, it's still a mix. Maybe it's the eventual goal we're striving for, but as of today you can hardly see decentralization as a reality."

"I don't know if there is a consensus on what decentralization should look like, but even so, it's still a myth as of today. I hope it becomes a reality. But for now it isn't."

*****

Ahamdi Abarikwu, BSC News Journalist based in Nigeria, with a background in electrical engineering and a passion for crypto, writing and editing.

"Decentralization is the basic idea of blockchain technology. But I personally doubt whether it can actually be implemented in its purest form. It's human nature. Decentralization wants to entrench equality, with more participation and equal rights. But is it practicable in our world?"

"We know what we want to achieve with decentralization, but at the point where we need to put it into practice, that aspect of human nature will eventually come up. How would you ensure that each party, every stakeholder in the system has equal rights? You can't regulate people's financial power, really."

"Decentralization does not want regulation. Decentralization can very well apply to things like gaming and gaming systems. But when it comes to financial markets, where people's lives and economies are at risk, there's always bound to be some form of regulation."

*****

Samuel Mbaki, BSC News Journalist based in Kenya, with a background in writing and journalism on many topics, including crypto

"Decentralization is a myth for me. I believe that the world should reach a point where decentralization and centralization are at a balance. For instance when you come to things like attacks, like what happened with BNB Chain, were it not for centralization, the chain would have lost a lot of money."

"Also, I still believe that even coins and things that are believed to be decentralized, they are still far away from that. For instance, Bitcoin. You believe it is the most decentralized coin that we have and the best one, but if you look, something like only four mining pools account for over 51% of the hash rate. That does not sound so decentralized."

"How far should decentralization go? Because if you let it go too far, it can ruin the system instead of making it as we would want it to be, in my view."

*****

Soumen Datta, BSC News Journalist based in India, with a background in laser physics and an interest in DeFi, P2E gaming and NFTs

"I believe we have a long way to go to achieve 'Decentralization' in decentralized finance. Even Bitcoin, the largest cryptocurrency by market cap, is held primarily by a few whales, and we know about MicroStrategy. Further, a handful of validators controlling one-third of the staked assets can hijack most proof-of-stake chains."

"Moreover, a single influencer, such as Elon Musk, can have a massive impact on the price of a token. In this sense, any cryptocurrency can become centralized as a result of an individual or group's influence on the community."

"To combat growing DeFi centralization, a community-first approach may be the way forward. Yet, much work needs to be done before we can get there."

*****

Patrick Brendel, BSC News Editor based in the Cayman Islands, with a background in many aspects of journalism and an interest in blockchain and crypto

"I'm not sure myself what the value of decentralization is. Is it something we should always be going toward, or does it matter as long as we have the luxury of having a variety of blockchains to choose from? I can do my project on Ethereum. I can use an L2. I can use BNB if I want. I can use Cronos. I can spread my own personal, very modest investments around to different projects on different chains with different DAOs. So I always have a choice of using the level of decentralization as one factor to consider when I'm voting with my wallet, so to speak. As long as new projects are being created, new blockchain options are coming online, then that element of freedom and choice still exists."

"The problem arises as power structures become more entrenched, through regular use, and the status quo starts to take hold. Then the really big caliber bullet in the chamber is government regulation. Then when they start stifling the creation of new projects, and the ways that blockchains can function, then that can stifle individual users' choices. One aspect of a heterogeneous system is you can choose the level of centralization or decentralization that you want, because there isn't one central authority setting a standard for what level of centralization is appropriate."

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Reserve Bank of India to reportedly launch digital rupee pilot in November

Oct 31

Now debuting the wholesale CBDC, the RBI plans to launch the digital rupee for the retail segment within a month in select locations.

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Author: Cointelegraph By Helen Partz

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SHIBA INU PUMP COMING || Shiba Inu News || Dogecoin Vs Shiba Inu || Elon Pump Shiba – Crypto World Headline

Oct 31

SHIBA INU PUMP COMING - In this video, I shared the Shiba Inu price, Shiba Inu pump, and Shiba Inu price predictions. According to big crypto traders, dogecoin and Shiba Inu will pump because Ethereum big whales continuously buy Shiba Inu and hold for good Profit.

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The content covered on this channel is NOT to be considered as investment advice.
I'm NOT a financial adviser. These are only my own speculative opinions, ideas, and theories/hypotheses on the market.
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The technical analysis on this channel has NO proven rate of accuracy and past performance is NOT indicative of future results.
Do NOT trade or invest based upon the analysis presented on this channel. Always do your own research and due diligence before investing or trading. I'll never tell you what to do with your capital, trades, or investments. I'll also never recommend for you to buy, sell, long, or short any asset, commodity, security, the derivative or cryptocurrency-related instrument as it's extremely HIGH RISK! You should always consult with a professional/licensed financial adviser before trading or investing in any cryptocurrency-related.

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Debunking this Halloween's Top 5 Crypto Creepers and Myths – Crypto World Headline

Oct 31

This Halloween season, Binance has unmasked and debunked some of crypto's most terrifying tales. From vicious volatility to rattling regulators and blood-curdling utility, we've taken your fears and shown they're not so scary after all, just in time for All Hallows' Eve.

Often people can wonder what exactly crypto is and how to use it. It can even be confusing when you see the volatility of the crypto markets too. Some more experienced users have a keen eye for regulation and may worry about its effects. Affecting everyone, of course, are security risks and scams. If any of these have made you ever stop and wonder, this video is just for you!

At Halloween, it's worth remembering not everything is as frightening as it seems. With our five crypto creepers laid to rest, you'll soon have some well-earned peace of mind. Knowledge really is power in the blockchain and crypto world!

But it's not just at Halloween that we unmask some of blockchain's biggest ghouls and monsters. There's always a learning opportunity with Binance's online educational resources on offer for free. From Binance Academy to our Learn and Earn program, plenty is available for the crypto-curious and seasoned veterans alike.

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All opinions and actions expressed and undertaken by the host are individual opinions and actions only and do not reflect the opinions and actions of Binance. #Binance cannot and does not guarantee the accuracy, applicability, reliability, integrity, performance or appropriateness of the content of this video, nor shall Binance be liable for any loss or damage that may be caused directly or indirectly by your use of these contents.

Binance is not your broker, intermediary, agent, or advisor and has no fiduciary relationship or obligation to you in connection with any trades or other decisions or activities affected by you. No communication or information provided to you by Binance is intended as, or shall be considered or construed as, investment advice, financial advice, trading advice, or any other sort of advice.

Binance does not recommend that any digital asset should be bought, earned, sold, or held by you. Before making the decision to buy, sell or hold any digital asset, you should conduct your own due diligence and consult your financial advisors prior to making any investment decision. Binance will not be held responsible for the decisions you make to buy, sell, or hold digital assets.

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ETH Above $1,600 as Markets Begin to Anticipate Fed Rate Decision – Market Updates Bitcoin News – Crypto World Headline

Oct 31

Ethereum was trading above $1,600 on Monday, as markets prepared for the latest U.S. Federal Reserve policy meeting. The Fed is expected to hike rates by 75 basis points this week, as inflation remains at historical highs. Bitcoin also rebounded, hovering marginally below $21,000 in today's session.

Bitcoin

Bitcoin (BTC) remained closer to $21,000 on Monday, as markets rebounded from yesterday's sell-off.

Following Sunday's low of $20,461.72, BTC/USD surged to an intraday peak of $20,791.67 earlier today.

The move sees the token edge closer to Saturday's high of $21,080, which was the strongest point the token had hit since September 13.

Bitcoin, Ethereum Technical Analysis: ETH Above $1,600 as Markets Begin to Anticipate Fed Rate Decision — BTC/USD – Daily Chart

Looking at the chart, Monday's surge sent BTC close to its long-term price resistance of $20,800, which hasn't truly been broken since early September.

Price strength has also rebounded, with the 14-day relative strength index (RSI) now tracking at 61.47, which is close to its own ceiling of 63.00.

In order for BTC to move past $21,000, bullish pressure will first need to overcome this current threshold on the RSI.

Ethereum

Ethereum (ETH) was also in the green to start the week, as the token continued to trade above $1,600.

ETH/USD moved to a high of $1,623.68 earlier in today's session, which comes less than 24 hours after trading at a low of $1,567.57.

Today's rise in prices comes as the world's second largest cryptocurrency climbed above its ceiling of $1,585.

As can be seen from the chart, the upward crossover of the 10-day (red), and 25-day (blue) moving averages seems to be reaching a summit, which could be a sign of slowing momentum.

The RSI is also in overbought territory, which means bears could be already positioning themselves for reentry.

Wednesday's United States Federal Open Market Committee (FOMC) meeting could likely be the trigger which either extends current momentum, or shifts its direction.

Register your email here to get weekly price analysis updates sent to your inbox:

Do you expect ETH to hit $1,700 before or after the Fed rate decision? Leave your thoughts in the comments below.

Eliman Dambell

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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Argo Blockchain is at risk of closing if it fails further financing

Oct 31

Argo Blockchain has been selling its Bitcoin holdings earlier this year to cut debt to Michael Novogratz's crypto investment firm Galaxy Digital.

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Author: Cointelegraph By Helen Partz

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TOP 5 Cryptos To Watch This Week – Crypto World Headline

Oct 31

The crypto market looks a lot better ahead of the new week compared to previous weeks as we saw some major rallies from the like of DOGE with over 100% return on investment within the space of few days and the price of Bitcoin (BTC) closing the week on a high ahead of its monthly close with high hopes of reclaiming $22,000 and higher if possible. The price of some altcoins has continued to look green in the face of the bear market with many exciting projects coming up and other projects gaining more attention in the crypto space due to the community and partnership deals. Let us discuss on top 5 cryptos you should pay attention to this week.

Disclaimer: The picks listed in this article should not be taken as investment advice. Always do your research and never invest more than what you can afford to lose.

Top 5 Cryptos- Bitcoin (BTC) Price Analysis On The Daily Chart

From the chart, the price of BTC bounced off from the region of $19,200 showing so much bullish uptrend as the price of BTC rallied to a region of $20,800 after forming strong support above $20,500. With the weekly close looking more bullish ahead of the monthly close we could see the price of BTC gain more traction in the next few days.

BTC is currently trading at $20,800 at the point of writing this article. The price of BTC has struggled to break above the region of $21,200 acting as strong resistance for the price to trend higher.

A breakout and close above $21,200 and forming support could see the price of BTC rally to a region of $22,000 acting as an area of interest for most sellers. (Supply zone)

Price Analysis Of Ethereum (ETH) On The Daily (1D) Chart

Daily ETH Price Chart | Source: ETHUSDT On Tradingview.com

The price of Ethereum in recent weeks outperformed BTC after showing a bullish trend ahead of "The Merge" rising to a region of $2,030.

ETH price was rejected from $2,030 with what seems to be a resistance for ETH price to trend higher. The price saw a sell-off to a region of $1,570 before continuing its spiral decline to a region of $1,260 where it formed demand for buy orders.

The price of ETH trade at $1,620 above the 50 Exponential Moving Average (EMA) on the daily timeframe as the price aims for a rally to a region of $1,720.

If the ETH price maintains its bullish structure, we could see the price retesting $1,720 as a key resistance region with high supply.

Price Analysis Of Binance Coin (BNB) On The Daily (1D) Chart

Daily BNB Price Chart | Source: BNBUSDT On Tradingview.com

The price of BNB was rejected from its resistance of $327 which saw the price of BNB suffer a huge blow with the price dropping to a region of $260 losing its key support. BNB's price responded swiftly as the price bounced off from that region reclaiming $300.

BNB has maintained its bullish structure despite the rejection. A break of above $335 could see the price of BNB retesting the region of $400 and possibly $450.

The price of BNB has found good support at $300 which corresponds to the 50 and 200 EMA. BNB needs to hold above to have a chance of trending higher.

Price Analysis Of Chainlink (LINK) On The Daily (1D) Chart

Daily SOL Price Chart | Source: SOLUSDT On Tradingview.com

The price of Chainlink (LINK) has continued to show bullish trends holding well above the 50 EMA as the price of LINK look set to breakout from its long accumulation phase.

The price of LINK needs to breakout and close above $8 price to rally to a region of $9.5 considering how fundamentally strong the price of LINK is as we head towards its staking plan in December.

Top 5 Cryptos- Price Analysis Of SOL On The Daily (1D) Chart

Daily LINK Price Chart | Source: LINKUSDT On Tradingview.com

SL has formed a bullish pattern after breaking out of a descending triangle with good volume as the price of SOL aims to rally to a region of $40 with the market looking more promising.

Featured image from zipmex, Charts from TradingView.com

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Why Bitcoin's Most Important Quality Is Decentralization

Oct 31

All of the unique benefits and attributes that make bitcoin valuable are underpinned by the network's decentralized consensus.

This is an opinion editorial by Neil Jacobs, a Bitcoin advocate, educator and content creator.

Bitcoin's most important quality is decentralization. In the Bitcoin white paper, there are more than a dozen references to removing trust in central entities. Decentralizing away from financial institutions was Satoshi Nakamoto's front-page motivation for creating Bitcoin: "allowing any two willing parties to transact directly with each other without the need for a trusted third party."

Unfortunately, entire crypto industries like DAOs, DeFi, and DEXs have appropriated the term decentralization into little more than a marketing buzzword.

Modern fans of cryptocurrencies rarely bother to ask what decentralization means anymore. Even their acronyms distance their activities from the claim of meaningful decentralization. Better for the public to assume that a Decentralized Autonomous Organization meaningfully exists, because, why, DAO is a popular acronym. Certainly the acronym must describe something meaningful about the thousands of entities managing billions of dollars whose leading adjective is "decentralized."

However, decentralization is exceedingly difficult to attain and maintain. Nakamoto constructed a sufficiently decentralized payment network away from trusted third parties after insufficient attempts were made by other cryptographers, acknowledging their work in the footnotes of the white paper.

See, almost everything about a blockchain improves with centralization.

A centralized team can increase speed, storage capacity, functionality and responsiveness. Centralized teams minimize bureaucracy, fix bugs quickly, reduce fees, improve user interfaces, respond to business opportunities and attend to press and community inquiries. Centralized blockchains are always cheaper and faster.

Yet centrally governed blockchains have no scarcity.

It is because of decentralization that someone puts a considerable amount of their wealth into Bitcoin. It is critically important to understand why this quality matters.

Decentralization is the only thing that provides Bitcoin with credible scarcity. All other coins are controlled by an oligopoly or small group of insiders. They can make — and change — the rules.

As Satoshi Nakamoto wrote in the white paper, a common way to build a double-spend-resistant financial network is, "to introduce a trusted central authority, or mint, that checks every transaction for double spending." Indeed, centralizing trust in authority is the cheapest, most convenient way to transact online. Bitcoin, in contrast, requires no trust in any central authority.

For example, Ethereum's ICO was pre-mined. Even today, just four entities control the private keys to the majority of staked Ethereum: Coinbase, Lido, Kraken and Binance.

Because decision-making about Ethereum's issuance schedule is so centralized, its future supply is unknown. Its leading analyst's estimate as to when the supply of ETH will equal 100 million spans anywhere from five to 38 years.

Ethereum Foundation insiders repeatedly delayed its promised difficulty bomb without community vote, which altered ETH's supply issuance. They silently activated dozens of hard forks without community notice that passed unilaterally within hours.

Only Bitcoin has over 14,000 fully validating, archival node operators that enforce bitcoin's 21 million hard cap. Because operating a full Bitcoin node is so cheap, new operators join the network daily.

Fully validating, archival nodes secure Bitcoin. Securing Bitcoin means enforcing consensus rules about what is included and added to the blockchain. Consensus is when everyone agrees on who owns what. Only full nodes can enforce consensus and provide credible scarcity over Bitcoin's supply.

Because Bitcoin has always prioritized low-cost node operation, it has allowed for, by far, the largest and most distributed network of people reaching consensus without trusting any third party. Fully validating, archival nodes ensure that no one double-spends bitcoin and that its 21 million supply cap persists.

Full nodes allow anyone to send and receive bitcoin without trusting any central party.

Decentralization makes consensus possible without threats of violence, imprisonment or civil forfeiture. Other projects simply use the word as a label to avoid questions about their controlling oligopolies.

As Satoshi Nakamoto wrote in October 2008, "What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party."

Today, nearly 14 years later, Bitcoin remains a decentralized payment network. It opts for inefficient decentralization on purpose. This unrivaled quality makes it the only technology for transacting online without the need for a trusted third party.

This is a guest post by Neil Jacobs. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.

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On This White Paper Day, Remember What Satoshi's Original Publication Is And What It Isn't

Oct 31

The Bitcoin white paper is far from a comprehensive definition of the Bitcoin network and too many have forgotten that.

This is an opinion editorial by Shinobi, a self-taught educator in the Bitcoin space and tech-oriented Bitcoin podcast host.

The Bitcoin white paper is one of the most important documents written this century to everyone reading this. Every Halloween, somewhere in the back of our minds, "this is when it happened" invades our consciousness. It really was one of those random, innocuous moments at the time that just interjected out of nowhere something that would radically shift the dynamics of the world. It laid out the framework of an idea that even today, at a ridiculously tiny size and significance in the world and its economy, has still had a massively outsized effect on this planet.

It was innocuously dropped on the cryptography mailing list at 18:10 UTC with the paper abstract and this little blurb:

I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party.

The paper is available at:

Click to access bitcoin.pdf

The main properties:

Double-spending is prevented with a peer-to-peer network.

No mint or other trusted parties.

Participants can be anonymous.

New coins are made from Hashcash style proof-of-work.

The proof-of-work for new coin generation also powers the network to prevent double-spending.

Only a relatively small handful of people saw this post or engaged with it, but that was where the first domino fell and the cascade of all the ones to come began. In that regard it is a pivotal piece of history that should be remembered and appreciated as such. But in the grand scheme of things, the white paper is not what many people in this space have held it up to be. It is not a specification of the Bitcoin protocol. It is not the definition of Bitcoin. The white paper did not actually create the Bitcoin network. The code and client that Satoshi Nakamoto released roughly two months later did.

What The Bitcoin White Paper Left Out

The white paper is just a high-level description of concepts. All it really does is go through, in a highly oversimplified manner, the fact that a solution to the double-spend problem was found. There is no deep analysis of the overall protocol and network structure, there isn't a comprehensive definition of the protocol itself, it's essentially just the academic equivalent of "Hey, I had this idea, check it out." So much of the protocol itself is not even mentioned at all in the paper.

For instance, section two of the paper states:

"We define an electronic coin as a chain of digital signatures. Each owner transfers the coin to the next by digitally signing a hash of the previous transaction and the public key of the next owner and adding these to the end of the coin. A payee can verify the signatures to verify the chain of ownerships."

There was an absurdly-complicated scripting system used to lock and unlock coins in the process of transacting them. It would allow the construction of scripts, or "predicates" (an equation that evaluates to true or false) as Nakamoto referred to them here, that could require all kinds of arbitrary conditions to be met in order to spend a coin. It is entirely possible, as has been done before, to create a coin that does not require any digital signature at all to spend.

The way the white paper describes what a "coin" is in the second section is a vast oversimplification that ignores all of the possible functionality of multisignature, escrows, hash locks and everything that can be built (and has been built) using those primitives. Because the point of the white paper was not to explicitly define the details of the protocol, it simply sought to get across the basic concept of being able to securely control a coin without depending on a central authority. The use of signatures, and all the other arbitrary conditions that can be created with script, can all be publicly verified by everyone scanning the chain.

In the fourth section, on proof of work, nothing in terms of actual specifics is mentioned in relation to the difficulty target. The difficulty period is not defined, the number of blocks on average, nothing. In the incentive section discussing the block reward subsidy and the ability to transition from new coins being issued to purely transaction fees, no total supply is discussed, no rate to dictate the slowing of new issuance, no time schedule for it — all of these things are left completely undefined in the white paper. Because it is not a definition of Bitcoin. It is purely a conceptual introduction at a very high level to the key things that make the system actually viable.

Talked About, But Never Implemented

Some things in the white paper that were explicitly talked about were never even implemented in the real system. In discussing simplified payment verification (SPV) in section eight of the paper, Nakamoto discussed the potential for malicious miners to fabricate invalid payments if they were able to overpower the rest of the network and trick SPV clients into accepting invalid transactions. This is possible because all they are using to verify anything is a blockheader and the Merkle tree path including that individual transaction, they see nothing from the rest of the block. Nakamoto suggested the possibility of nodes on the network sending "alerts" to SPV clients whenever they encounter an invalid block, so they can download and verify it. This was never built out because it's not possible to validate a block without having validated the block before it, and so on and so on back to genesis. It literally wasn't possible to do.

Now, the door might be opened in the future for such things by zero-knowledge proofs, but the vague idea laid out to solve a major problem here in the white paper has, as of yet, not been implemented. Nakamoto speculated on the possibility of zero-knowledge proofs in Bitcoin, but they were much less developed of a technology then and something clearly above Nakamoto's level in terms of deep understanding.

How To Think Of The Bitcoin White Paper Today

Looking at all of these examples, we can see that there were very critical and defining aspects of the Bitcoin protocol that was launched in January 2009 that were not even mentioned in the paper at all. We can also see that a very critical security protection suggested in the paper is still to this day not actually implemented in any Bitcoin software.

The white paper is a very important document in historical terms, and a very important document in terms of conveying the most basic concepts underpinning the design of Bitcoin as an abstract system, but in terms of the actual specific technical details of the protocol and network, it is essentially irrelevant.

This was the failure of many Bitcoiners that have drifted away from the system in favor of broken protocols like Bitcoin Cash or Bitcoin Satoshi's Vision — they treated the white paper like a protocol specification. It's not. It never was.

This is a guest post by Shinobi. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

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EU crypto sanctions against Russia has an unexpected enforcer

Oct 31

The Monetary Authority of Singapore says crypto exchanges in the country must comply with financial sanctions against Russia.

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Author: Cointelegraph By Savannah Fortis

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#BitcoinWhitepaperDay | Bitcoin turns 14 today

Oct 31

#BitcoinWhitepaperDay | Bitcoin turns 14 today 🥳

14 years ago today, Satoshi Nakamoto introduced Bitcoin Whitepaper to the world. 9 pages that brought in a new age of financial revolution.⁣
⁣
Today, Bitcoin has a market cap of $393 billion, and it is one of the top 10 assets in the world

Our host Shramana Chatterjee is joined by Anugrah Tibrewal and Nitin Kacharia to discuss Bitcoin and its various milestones over the past 14 years.

Read the Bitcoin Whitepaper in English: https://wrx.gg/bitcoin-english
Read the Bitcoin Whitepaper in Hindi: https://wrx.gg/bitcoin-hindi

*Crypto is an unregulated digital currency, not a legal tender, and subject to market risks. The information provided in this section doesn't represent any investment advice or WazirX's official position.

Buy your WazirX Merchandise here: https://wrx.gg/ytmerch
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Author: WazirX: Bitcoin & Cryptocurrency Exchange in India

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Aptos DeFi project under fire, asks community for confidence vote – Crypto World Headline

Oct 31

Aptos-based DeFi project Arco Protocol has handed over a decision to its community: back it or let the whole thing shut down.

The project explained that it had come under heavy criticism after its token sale was struck by issues, leading to the loss of key partnerships with exchanges and other protocols. Among all these issues, the project faced accusations that it was a scam and that the team intended to run away with the funds, it said on Twitter.

As a result, it has put out a Twitter poll asking for support in order to continue. It gave three options: back the project and keep it running; hand over control of the project to the community; or shut the whole thing down and issue a refund.

While the poll still has hours left, nearly half of the 9,000 votes — 48% — are in favor of a refund. This is followed by a third of votes backing the community and a remaining 20% that want it to be decentralized. While this does mean 52% of voters are in favor of the project continuing in some form, it will likely have to go with the most popular vote and shut down.

Arco claimed that "ArcoFamily" was the largest community on Aptos and that it was "unstoppable." Alas, if the vote continues on its current trajectory, that will no longer be the case.

About Author

Tim is a News Editor at The Block who runs the Crypto Ecosystems team, focusing on DeFi, DAOs, staking, governance and blockchain layers. Prior to joining The Block, Tim was a News Editor at Decrypt. He has earned a BA in Philosophy from the University of York and studied News Journalism at Press Association Training. Follow him on Twitter @Timccopeland.

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For Crypto Success, Move Away From Currency – Crypto World Headline

Oct 31

This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

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Uniswap's strong uptick could witness a break if investors fail to do this for UNI – Crypto World Headline

Oct 31

The Uniswap decentralized exchange experienced an increase in demand and utility in the last seven days. A reasonable outcome since the market moved from a previously low volume period earlier in October to a high volume phase towards end-month. This performance could give insights into what investors should expect moving forward.

Here's AMBCrypto's price prediction for Uniswap [UNI] 2022-2023

In theory, higher utility for Uniswap means more demand for its native token UNI. Furthermore, last week we saw an increase in the number of daily active addresses as the market started heating up. This increase notably started taking place on 23 and 24 October. Network growth also saw an overall increase from around the same time during the week.

Source: Santiment

The higher active addresses represented more network utility as crypto bulls took over following a previous period of relative dormancy. Uniswap's network transaction count registered a sharp increase between 23 and 25 October, before slowing down since then.

Source: Santiment

The drop in the transaction count may not necessarily reflect lower demand. It did, however, confirm that most of the demand was concentrated at the start of last week. While these metrics confirmed increased network activity and network growth, they weren't the only reason for the UNI demand.

The sudden switch to a bullish market sentiment may have also fueled demand for the UNI token. This may explain why it continued to rally even as the network transactions slowed down.

Source: TradingView

UNI managed to rally by slightly over 20% in the last seven days. It achieved a new two-month high of $7.37 before retracing to its $6.96 price of 30 October. Its latest price action managed to push past a key resistance level at the mentioned price level. This resistance level lied on the 0.382 Fibonacci retracement line.

What to expect from Uniswap this week

The last two attempts at the same resistance level demonstrated less momentum compared to the latest retest. This indicated that the price was indeed gaining relative strength in favor of the bulls. This has been the case since the RSI crossed above the 50 level.

Source: TradingView

We might see UNI continue on its upward trajectory in the next few days. This is because it still has some ground to cover before reaching the overbought zone. It remains to be seen whether the higher relative strength will allow the bulls to overcome any downside and proceed on their upward match.

Investors should be keen to observe is whether an increase in sell pressure will have a positive effect on UNI. Perhaps the resulting organic demand for UNI will absorb the market sell pressure. If not, we might see UNI give in to the current resistance range.

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Crypto in sports: What are ASR, JUV & ACM fan tokens?

Oct 31

To ride on the football fever ahead of the World Cup 2022, Polopedia created a new explainer series on "Crypto in Sports" last week to introduce the fan tokens created by Socios.com, the fan engagement and rewards platform, under the blockchain infrastructure, Chiliz.

This time, we are going to talk about the three top-flight teams in Italian football, AS Roma, Juventus and AC Milan. As the 2022–23 Serie A is now in full swing, you get a chance to understand how their corresponding fan tokens, ASR, JUV, and, ACM, work for influencing the clubs' decisions.

What is Chiliz (CHZ)?

What are they?

ASR Fan Token: On July 19, 2019, A.S. Roma became the second Italian football club to launch its official fan token: ASR, which allows fans to collectively vote for club-related issues, ranging from renaming the training ground, the team bus design, and writing fan messages at the stadium, etc. Besides, fans can also earn rewards by participating in quizzes and games. The more rewards they earn, the higher chances they will get the once-in-a-lifetime experiences. In the future, ASR will allow holders to earn Non-Fungible Token (NFT) rewards, too.

JUV Fan Token: Juventus FC is the first football team in the world to launch the fan token: JUV, using it to interact with fans. The supply of JUV is limited to 20,000,000, which guarantees scarcity to give token holders the privileges of making the club's decisions on the pennant design, the goal celebration song, the redesign of the "J" logo and more to get in the driving seat to steer the club to the right directions.

ACM Fan Token: In January 2021, A.C. Milan jumped on the Web3 bandwagon to launch its official fan token, ACM, on the fan engagement and rewards platform Socios.com, which is powered by Chiliz. With a total supply of 20,000,000, ACM allows token holders to join the decision-making process of the club, including choosing the official "fan motto" that features inside the club's dressing room, voting for the exclusive content that they wish to see in the summer tour, and joining hands together to create unique artwork or kit for the club legends. In the future, ACM may allow holders to earn NFT rewards.

What is Socios?

How do they perform?

ASR Fan Token:

As the official fan token of A.S. Roma, ASR is now trading at $3.15 by press time and DigtialCoinPrice predicted that the price of the token may go up to almost double to between $6.19 and $7.36 in 2024. Founded in 1927, A.S. Roma, commonly known as Roma, has had a brilliant track record in the past with three Serie A titles, nine Coppa Italia titles, and two Supercoppa Italiana titles, one Inter-Cities Fairs Cup in 1960–61 as well as one UEFA Europa Conference League title in 2012–22.

JUV Fan Token:

As mentioned above, Juventus FC, aka Juve, was the pioneer of partnering with Chiliz to launch its fan token: JUV, which hit an all-time high of $37.83 on Dec 21, 2020, according to CoinGecko. Although the price of JUV fan token has dropped to a single digit to around $4 by press time, it's expected to increase between $6 to $7 next year based on the DigitalCoinPrice data, since the club has won 36 Serie A titles, nine Supercoppa Italiana titles, 14 Coppa Italia titles, two European Cup/UEFA Champions Leagues as well as three UEFA Cups since its establishment in 1897, all of which proved that the club holds a strong position in the football industry.

ACM Fan Token:

ACM is the official fan token of A.C. Milan, which was founded in 1899. The token is priced at $3.15 by the press time. Because A.C. Milan, simply Milan, is one of the most popular Italian clubs with a good track record of snatching at least seven European Cup/UEFA Champions League titles, 19 Serie A titles, five Coppa Italia titles and beyond, DigitalCoinPrice predicts that ACM will go up to $5.64 next year.

Poloniex Exchange on Twitter: " #ASR #JUV #ACM are now live! Click the links below to trade!ASR/USDT: https://t.co/uhL4yX6Xd0ASR/USDD: https://t.co/cv2oxvxfFBJUV/USDT: https://t.co/Zx9rwzFSUNJUV/USDD: https://t.co/hJhWWpaUZ4ACM/USDT: https://t.co/6fgSYhyyKvACM/USDD: https://t.co/HW6bZdUrg0 pic.twitter.com/mSAP1AfYh3 / Twitter"

#ASR #JUV #ACM are now live! Click the links below to trade!ASR/USDT: https://t.co/uhL4yX6Xd0ASR/USDD: https://t.co/cv2oxvxfFBJUV/USDT: https://t.co/Zx9rwzFSUNJUV/USDD: https://t.co/hJhWWpaUZ4ACM/USDT: https://t.co/6fgSYhyyKvACM/USDD: https://t.co/HW6bZdUrg0 pic.twitter.com/mSAP1AfYh3

How can we purchase fan tokens?

No matter which football team you support, you can purchase ASR, JUV, or ACM tokens on the Socios platform to get involved in different club's governance. Or else, you can also purchase the aforesaid tokens at credible crypto exchanges, including Poloniex, where you can trade them on the spot market with cryptocurrencies including USDD and USDT.

Attention, please!

Sharing is a blessing! That's why Poloniex is joining hands with Chiliz to launch the "Learn & Earn" campaigns to allow users to share up to $120,000 worth of the fan tokens in the football season, and ahead of the World Cup 2022. Sounds fun? Please click here to answer the quizzes to share the prize pools of $120,000 now!

Learn & Earn: Fan Token - Share $120,000 Worth of Fan Tokens (ASR/JUV/ACM) by Answering Quizzes (Part 2)

Dogecoin (DOGE) Manipulated By Whales? A Look Off / On-Chain – Crypto World Headline

Oct 31

The Dogecoin (DOGE) price has had an incredible weekend. Following Elon Musk's confirmed Twitter acquisition, the DOGE price jumped 95% over the last seven days. The memecoin exploded to over $0.14 at times and is currently sitting at about $0.11.

Musk's gigantic influence on the DOGE price is an old acquaintance for the crypto market. Over the past few years, the Tesla and SpaceX CEO kept moving the price with his statements. But since the Twitter acquisition, he has gone quiet. Musk has not mentioned Dogecoin since the deal was closed.

However DOGE fans remember April when Musk floated the idea of letting Twitter users pay with Dogecoin for his premium subscription service, Twitter Blue. Currently, rumors are circulating that Musk plans to have all users pay $20 for a blue check mark.

Some Tesla products can already be purchased on the automaker's website using Dogecoin. The Boring Company accepts the cryptocurrency as payment for using the Las Vegas Loop.

Because of the massive influence on the market, not everyone believes that Musk has good intentions. In June, a $258 billion lawsuit was filed against Musk, SpaceX and Tesla for manipulating the DOGE price. In September, the lawsuit was expanded to include seven new investors and six new defendants, including his tunneling company, Boring Co.

According to the lawsuit, Musk and the other defendants intentionally drove up the price of Dogecoin by more than 36,000% over two years and then caused it to crash. In doing so, the defendants "made tens of billions of dollars at the expense of other investors," according to the complaint.

Are Dogecoin Whales Manipulating The Price?

But it's not just Elon Musk, other whales seem to be setting the tone for the Dogecoin price as well. As new on-chain data shows, there were three whale alerts yesterday. The largest whale transferred 450 million DOGE, while the seventh largest whale received 10 million DOGE. In total, 402 million flowed out of Binance.

Three Whale Alerts for $DOGE!

The top 1 holder transferred 450M $DOGE($54M) out.

The top 7 holder received 10M $DOGE($12M) again.

A total of 402.16M $DOGE($49M) flowed in to #Binance.#dogecoin #DOGEUSDT #DogecoinRise #DogecoinWhaleAlert https://t.co/8uTanG78bG pic.twitter.com/7Sx7eeDlFg

— Lookonchain (@lookonchain) October 30, 2022

The price of DOGE surpassed $0.10 for the first time since May 2022 on Saturday, with a 24-hour gain of nearly 30%. An anonymous on-chain analyst posted the table below, which shows the latest 30-day holdings change of the top 10 holders of DOGE.

Dogecoin DOGE whales — Top-10 Dogecoin (DOGE) addresses. Source: Twitter

According to the analysis, it can be seen that two addresses are highly correlated with the price of DOGE. One of them is the largest whale, the exchange Robinhood, which transferred a total of 1.05B DOGE ($107.4M) on October 05, October 28 and October 29. Not elaborating what this means, it can be assumed that Robinhood is gathering a lot of retail interest for DOGE.

Further, the analyst notes that coincidentally, the address "DPDLBA" transferred 1.35B DOGE in early August. After the transfer, the price of DOGE exceeded $0.85 and reached its highest level after May.

DOGE Dogecoin whales — Whale activity by a DOGE holder. Source: Twitter

The top-7 holder of DOGE is the other address impacting the market. From October 6th, the address received 5M or 10M DOGE every day. He also received 10M DOGE on Saturday and "it doesn't seem to stop".

"The last time address 'DMuFDC' received DOGE started on July 26 and stopped on August 5, after which the price of $DOGE started to rise. Now that he is still receiving $DOGE, does it mean that the price of $DOGE will continue to rise?", the analyst concluded.

DOGE USD Dogecoin chart — DOGE consolidates following the weekend rally. Source: TradingView

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Boo! Halloween-themed shitcoins materialize to haunt crypto Twitter

Oct 31

Halloween-themed cryptocurrencies are taking over the crypto ecosystem on Twitter, typically purchased as an off-the-shelf product providing no real use case or future for investors.

Go to Source
Author: Cointelegraph By Arijit Sarkar

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FTX US encourages staff to relocate to new Miami headquarters – Crypto World Headline

Oct 31

FTX US, the crypto exchange operator, is pushing staff to move to Miami a month after naming the city as its U.S. headquarters. Staff has been encouraged to make the move by mid-November, according to people familiar with the matter.

While FTX's other offices in the United States are not fully closing down, they are being downsized as the startup looks to concentrate its workforce in Miami, the sources said. The move is about getting staff in the same place and ensuring they can communicate well, one person added. Currently, most of the available roles on FTX's careers page are based in Miami.

FTX was contacted for comment but did not respond by 2:00 am ET.

Sam Bankman-Fried, FTX's CEO, announced that the exchange would be shifting its U.S. headquarters from Chicago to Miami in a tweet in September. Miami mayor Francis Suarez — who has been vocal about his hopes to turn the city into a crypto hub — lauded the move.

FTX has invested heavily in Miami. In April 2021, the exchange operator was named the exclusive crypto partner of the Miami Heat. The American Airlines Arena was renamed FTX Arena as part of a 19-year sponsorship deal worth $135 million.

FTX's leadership in the U.S. is also in transition, with former president Brett Harrison — who was based in Chicago — stepping down in late September to take on an advisory role. Miami resident Zack Dexter, who previously led FTX US's derivatives unit, took over from Harrison.

About Author

Ryan is The Block's deals editor. Before joining he worked at Financial News, and has also written for the likes of Wired, Sifted and AltFi.

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Here are top tips by the crypto community to get through the bear market

Oct 31

The common theme of advice revolved around focusing on long-term goals and avoiding short-term distractions be it price volatility or negative mainstream news.

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Author: Cointelegraph By Prashant Jha

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BTC price sees 'double top' before FOMC — 5 things to know in Bitcoin this week

Oct 31

Concerns that Bitcoin may have already topped come as volatility is expected around the Fed rate hike decision and comments.

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Author: Cointelegraph By William Suberg

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The Morning Cup: Binance helped Elon Musk to acquire Twitter, Dogecoin spiked after the takeover

Oct 31

Good morning, good day, and good evening. Welcome back to The Morning Cup. It's your weekly recap of the latest in crypto news and your start to the week, no matter where you are. Don't worry, we've selected just what you need to stay up-to-date, so you won't spend time pouring through the news you don't need, only the news you care about.

Market Watch!

DOGE spikes following Musk's Twitter buyout

Thanks to Elon Musk's acquisition of Twitter, his favorite crypto, Dogecoin (DOGE), also rallied over the week, gaining over 90% from around $8.1 billion to $15.9 billion at one point. According to CoinGecko, the spike makes DOGE the eighth largest cryptocurrency by market cap at press time. As for Bitcoin (BTC) and Ethereum (ETH), they are now trading at $20,506 and $1,581 respectively. For the 24h gainers on Poloniex, they are CHZ/USDT, SAND/USDT, XLMBEAR/USDT, SANTOS/USDD, PSG/USDT, LINKBULL/USDT.

So what happened this week?

Elon Musk takes over Twitter with Binance's $500M investment

The Musk-Twitter saga is over! But, the platform's future direction is unclear as Elon Musk fired four top executives, including the CEO Parag Agrawal, soon after taking ownership. Tweeted last Friday with a simple line: "the bird is freed", the world's richest man implied the Twitter deal was sealed after months of twists and turns in the courtroom. A filing with the US government confirmed the takeover worth $44 billion. Since Musk fired four top executives soon after the acquisition, some are concerned about the future direction of Twitter. In addition, Changpeng Zhao, the founder, and CEO of Binance, revealed that the exchange was Musk's equity investor with $500 million wired two days ahead of the takeover. Zhao also tweeted that Binance will establish a team to bring social media and Web3 together to widen the adoption of crypto and blockchain technology. Apart from Binance, Sequoia Capital, Fidelity Management, Andreessen Horowitz and Brookfield were also Musk's co-investors in the Twitter buyout. As Musk fully controls the board, it's unclear how the co-investors will influence the platform in the future.

Elon Musk on Twitter: "the bird is freed / Twitter"

the bird is freed

CZ Binance on Twitter: "Let's unleash the bird. / Twitter"

Let's unleash the bird.

BBC, Reuters

Crypto lobby group welcomes Rishi's appointment of UK Prime Minister

Crypto evangelists in the United Kingdom are excited about Rishi Sunak's appointment as their new Prime Minister since Sunak expressed hope to turn the country into an international hub for crypto during his time as the Exchequer. Sunak, 42, of Indian descent, was chosen by his Conservative Party members last Monday to replace Liz Truss, who was in office for just 45 days. Sunak served as the Chancellor of the Exchequer from 2020 to 2022. During his tenure as the Exchequer, he had expressed his intentions to make the country into a global crypto hub with the aim of regulating stablecoins as a form of payment. Although Truss's government had also expressed a commitment to Sunak's crypto plans, some have worried about the direction of the proposal after Truss's departure. However, the crypto world in the UK has reignited the hope again after Sunak's appointment and Crypto UK, the industry lobby group, is one of them. As reported by CoinDesk, the aforesaid body thinks that Sunak's appointment would bring a positive sign to the crypto and the general economy. Meanwhile, Hong Kong plans to legalize retail trading of cryptocurrency according to a Bloomberg report on the matter, with some believing that the city is now beefing up its policies on crypto trading so that it can compete with its neighboring country, Singapore.

Rishi Sunak on Twitter: "I will unite our country, not with words, but with action.I will work day in and day out to deliver for you.Watch my speech from Downing Street pic.twitter.com/diOBuwBqXc / Twitter"

I will unite our country, not with words, but with action.I will work day in and day out to deliver for you.Watch my speech from Downing Street pic.twitter.com/diOBuwBqXc

CoinDesk, Bloomberg

74% of institutional investors optimistic about buying crypto — Fidelity

A survey conducted by Fidelity, the international financial institution, shows that over 70% of institutional investors plan to buy crypto in the future, even if the crypto market is still bearish. Fidelity revealed last week that 58% of institutional investors, including hedge funds, financial advisors and high-net-worth individuals, had invested in digital assets in the first half of 2022, representing a 6% increase from the year before. Meanwhile, 74% of institutions said they were planning to buy digital assets in the future. In addition, 51% of the respondents hold a positive perception of digital assets, up from 45% in 2021. Fidelity's survey included 1,052 institutional investors spread across the U.S., Europe and Asia.

Decrypt, Blockwork

New Listings on Poloniex

Here's what we've listed recently:

New Coins

NEAR Protocol (NEAR)

GMX (GMX)

Optimism (OP)

Fan tokens

Manchester City Fan Token (CITY)

Arsenal Fan Token (AFC)

Paris Saint-Germain Fan Token (PSG)

Futures

Aptos (APT)

Chiliz (CHZ)

FOOTBALL (FOOTBALL)

Flow (FLOW)

Theta Network (THETA)

Polopedia

Socios, the blockchain-powered fan token platform created by Chiliz, was our subject this past week.

What is Socios?

Crypto Glossary

This week, we are going to explain a new acronym, NGMI, which refers to "not going to make it". NGMI is the opposite of WAGMI (what we explained last week) that the term is often used to make fun of or ridicule people with poor financial decisions. Besides, NGMI is also used to mock those skeptics who hold negative comments on the crypto markets.

What's happening here at Poloniex?

This is what Poloniex's week looked like

Campaigns

Our recap of ongoing campaigns that YOU can get involved in!

Trade APT Futures with $500 Subsidy to Win $20,000! (10/25–11/4/22)

Trade APT Futures with $500 Subsidy to Win $20,000!

Poloniex FIFA World Cup Carnival: Trade Fan Tokens to Split $100,000! (10/24–11/19/22)

Become a Poloniex KOL to Win a Commission of up to 60% and Share 10,000 USDT

Become a Poloniex KOL to Win a Commission of up to 60% and Share 10,000 USDT (10/1–12/31/22)

Become a Poloniex KOL to Win a Commission of up to 60% and Share 10,000 USDT

The community megaphone

Highlights from the community

Poloniex Exchange on Twitter: "We are excited to announce that Poloniex got a verified account in the @CoinMarketCap communityFollow us on #CMC https://t.co/wXA67vtIRS pic.twitter.com/5TaPJUfjWD / Twitter"

We are excited to announce that Poloniex got a verified account in the @CoinMarketCap communityFollow us on #CMC https://t.co/wXA67vtIRS pic.twitter.com/5TaPJUfjWD

And that about covers it for this week! Curious about our campaigns or upcoming events? Give us a shout in our Telegram channel-

Poloniex English

Poloniex's newsletter is now getting served fresh to your inbox. Get the latest news in crypto, Poloniex listings, new campaigns, and more! Click here to sign up to start your week with The Morning Cup.

Poloniex Exchange on Twitter: "Poloniex's newsletter is now getting served fresh to your inbox. Get the latest news in crypto, Poloniex listings, new campaigns, and more!Sign up to start your week with The Morning Cuphttps://t.co/EQm6zK9GRg Details: https://t.co/oaQJz80wj1 pic.twitter.com/FKrFJbAtHR / Twitter"

Poloniex's newsletter is now getting served fresh to your inbox. Get the latest news in crypto, Poloniex listings, new campaigns, and more!Sign up to start your week with The Morning Cuphttps://t.co/EQm6zK9GRg Details: https://t.co/oaQJz80wj1 pic.twitter.com/FKrFJbAtHR

Don't forget to show your appreciation by smashing that clap button to give us a round of applause

Thanks for spending some time with us as we went over what's going on. And wherever you are, from the team here at Poloniex, good morning, good day, and good evening!

The Morning Cup: Binance helped Elon Musk to acquire Twitter, Dogecoin spiked after the takeover was originally published in The Poloniex blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

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THE BIG WEEK || WEEKLY UPDATE – Crypto World Headline

Oct 31

Guys be very careful scammers are making fake crypto India telegram channel & fake youtube profile to scam people.(These channels will have high bought subs and will scam you)

So only join official channel with the link mentioned below :

https://www.telegram.me/OfficiaLCryptoIndia

Also remember we never ask for money, dont have paid course or paid group. We do everything for free - so if someone asks for money - Thats a scammer.

Timestamps :

0:00 Introduction

0:25 Market Update

4:23 Elon Buys Twitter

5:35 Twitter Acquisition Breakdown

6:02 US GDP Results

6:40 Important Dates

7:00 Bitcoin Mining Energy Consumption

8:00 Singapore Sets Rules for Retail Investors

09:33 Bithumb Director in Trouble

10:05 Hacktober

10:55 BitMex CEO Steps Down

12:06 MetaMask Grants DAO

---------------------------------

Trusted Exchanges that we use :

Indian Exchange :

CoinDCX : https://coindcx.com/signup?r=55032323

Gift Card Reward App :

Gosats : https://gosats.page.link/zbE6

P2P Exchange :

Paxful : https://paxful.com/?r=71zko2NgvYa
LocalBitcoins : http://tiny.cc/LocalBtc

Spot Trading Exchange :

Binance Spot Trading : http://tiny.cc/BinanceSpot
KuCOIN : http://tiny.cc/Kucoin
Huobi : http://tiny.cc/Huobii
OKex : https://www.okex.com/join/1/1823839
Gate.IO - https://www.gate.io/signup/1806186

Leverage Trading Exchange :

Binance : http://tiny.cc/BinanceFutures
BitMex : http://tiny.cc/BitMex
FTX : https://ftx.com/#a=CryptoIndia
Delta : https://www.delta.exchange/CryptoIndia

Telegram : https://www.telegram.me/OfficiaLCryptoIndia
Twitter : http://twitter.com/cryptooindia
Facebook : http://fb.me/cryptoindiaa

Buy Ledger Hard Ware Wallet - https://www.ledger.com?r=4280b88abd4e
Make Account on Trading View - https://bit.ly/2ZxknZt

#bitcoin #BitcoinAnalysis #BitcoinNews

DISCLAIMER

The Information provided on, from or through this channel is general in nature and is solely for educational purposes. The generic market recommendations provided by us are based solely on our personal judgment and should be considered as such. You're advised to enter into any transactions relying on your OWN judgment. Any market recommendations provided by us are generic only and may or may not be consistent with the market positions or intentions of our channel and/or our affiliates. Any opinions, news, research, analyses, prices, or other information contained on this channel are provided as general market commentary, and do not constitute an investment advice. All information contained herein should be independently verified and confirmed. We do not accept any liability for any loss or damage whatsoever caused in reliance upon such information or services. Please be aware of the risks involved with any trading done in any financial market. Do not trade with money that you cannot afford to lose.

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Argentine Tax Authority AFIP Notified 4,000 Crypto Holders to Ammend Their Tax Statements – Regulation Bitcoin News – Crypto World Headline

Oct 31

The Argentine Tax Authority (AFIP) is ramping up its fight against cryptocurrency-related tax evasion. On Oct. 28, the organization informed it had sent notifications to 3,997 taxpayers about incongruencies between their tax statements and reports on their cryptocurrency holdings. These statements being reviewed correspond to reports of operations happening in 2020.

Argentine Tax Authority AFIP Ramps up Crypto Vigilance

The Argentine Tax Authority (AFIP) is using the reports coming from local exchanges to cross the data in the tax statements and the crypto holdings of several taxpayers and has already found incongruencies. According to reports, the organization has already sent notifications of these problems to 3,997 Argentine citizens, that will have the opportunity to correct their statements to include their cryptocurrency holdings and pay additional taxes.

These notifications would be linked to statements that were filed during 2020 and would be sent to taxpayers that have operated using local cryptocurrency exchanges, that must pass their operational information to the AFIP by law. The notifications explain that the taxpayer has been operating with cryptocurrency in these exchanges. It continues declaring:

You are reminded that the results derived from the disposal of digital currencies are covered by the Income Tax and, if applicable, you must proceed to externalize them in the relevant affidavits as well as their possession.

Can Crypto Be Seized to Pay Tax Debt in Argentina?

However, asking for information and justification of the expenses and cryptocurrency purchases for taxpayers in 2020 might lead them to show the history of their cryptocurrency holdings since its purchase until that year. This might also derive from having to amend cryptocurrency statements of years before 2020.

These actions can lead to a possible seizure of bitcoin, which is still a controversial issue according to analysts. Daniel Perez, an Argentine attorney, believes that there are still no laws that allow the state to take control of these cryptocurrency wallets. In contrast, digital accounts can be seized, with the organization having seized more than 1,200 of these since Feb. In an interview with Iproup, he stated:

The law would have to be modified to clearly stipulate the possibility of seizing electronic wallets. The AFIP knows this, and that is why it is trying to sneak into the Budget an article that gives it the power to do so both with respect to fiat money and bitcoin.

The applicability of this new article would be also limited because it would only apply to cryptocurrency held in noncustodial wallet providers and exchanges. It is still uncertain the ways in which the state would force citizens to deliver their cryptocurrency private keys to government officials.

Tags in this story

afip, ammendements, Argentina, Argentine, Crypto, Cryptocurrency, digital accounts, evasion, local exchnages, Seizure, statements, Tax

What do you think about the recent notifications sent to taxpayers by the AFIP? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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Are Bitcoin bulls headed north of $25,000 or will BTC sustain the current range – Crypto World Headline

Oct 31

Bitcoin [BTC] just concluded a very exciting week observed in a while now. This was because the cryptocurrency's downside in October continued to build on the bearish performance since mid-August. As A result, the recent rally relieved the tension in the market downturn, hence excitement during last week's rally.

But can the bulls maintain this upside for a while longer? Let's find out.

Here's AMBCrypto's price prediction for Bitcoin (BTC) for 2022-2023

Yes, Bitcoin did witness a bullish recovery by over 10% last week, but its volatility notably dropped especially in the last three days. But can it resume the upside momentum or will we see the return of sell pressure? Well, here are some observations that may help provides eagle-eye view of where the market could be headed considering the current range.

According to a CryptoQuant analysis by TariqDabil (Pseudonym), the recent rally was fueled by retail buy pressure. In other words, the analysts suggested that whales and institutional investor participation was notably low.

Confirming low Bitcoin whale and institution participation

This analysis might hold true because the latest upside was not characterized by long daily candles to indicate strong big buys. This didn't necessarily mean whale activity was absent. In fact, some bullish pressure from addresses holding between 10,000 and 100,000 BTC through-out the month was witnessed. Last week's performance saw surge in buying pressure from addresses in the 100 to 100,000 bracket.

Addresses holding between 100 and 1,000 coins also saw net outflows during the week. This indicated profit taking by whales as prices went up. Addresses holding between 100,000 and 1 million registered a sharp outflow on 25 October. This whale category likely represents exchange addresses.

Source: Santiment

The above analysis also showed that the accumulation by top addresses levelled out. In addition, an increase in exchange reserves in the last seven days was also observed. This indicated that many traders were holding their BTC on exchanges. Furthermore, this also suggested that traders may not be confident enough in the bulls.

Source: CryptoQuant

Bitcoin's long-term holder SOPR had a 0.69 value at press time. This meant that long-term hodlers were still on the realized loss side of things.

All the above information pointed heavily on the expectations of another bearish retracement. This meant that Bitcoin might be doomed to extend its stay in the lower range. A look at its price action revealed that it was already experiencing resistance within the $20800 range. The same range previously acted as support and resistance in the last few months.

Source: TradingView

Are you doing okay BTC?

It will hard for Bitcoin to maintain the short-term upside without whale and institutional demand. After which an increase in sell pressure will likely push for another bearish outcome. On the other hand, investors should keep an eye out for the return of bullish demand from whales and institutions. This would ensure a continuation of the bullish momentum.

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Bitcoin Price Lacking Momentum Above $21k, BTC Holders Are Safe: Here's Why – Crypto World Headline

Oct 31

Bitcoin price started a downside correction from $21,000 against the US Dollar. BTC could start a fresh increase if it remains stable above the $20,000 support.

Bitcoin is slowly moving lower from the $21,000 resistance zone.
The price is trading below $20,500 and the 100 hourly simple moving average.
There is a key declining channel forming with resistance near $20,700 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start another upward move if it stays above the $20,000 support zone.

Bitcoin Price Starts Downside Correction

Bitcoin price made another attempt to clear the $21,000 resistance zone. However, BTC failed to gain momentum above the $21,000 resistance zone.

A high was formed near $21,074 and the price started a fresh downside correction. There was a move below the $20,600 and $20,500 levels. The bears pushed the price below the 50% Fib retracement level of the upward move from the $20,029 swing low to $21,074 high.

Bitcoin price is now trading below $20,500 and the 100 hourly simple moving average. There is also a key declining channel forming with resistance near $20,700 on the hourly chart of the BTC/USD pair.

The price is now holding the $20,450 support zone. It is close to the 61.8% Fib retracement level of the upward move from the $20,029 swing low to $21,074 high. On the upside, an immediate resistance is near the $20,600 zone and the 100 hourly simple moving average.

Source: BTCUSD on TradingView.com

The first major resistance sits near the $20,700 level and the channel trend line. The next major resistance is still near $21,000. A clear move above the $21,000 resistance might start a steady increase towards the $22,000 resistance. Any more gains open the doors for a test of the $22,500 resistance zone.

More Losses in BTC?

If bitcoin fails to rise above the $20,700 resistance zone, it could continue to move down. An immediate support on the downside is near the $20,450 zone.

The next major support is near the $20,200 zone. The main support sits at $20,000. A downside break and close below $20,000 might open the doors for a substantial decline in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $20,200, followed by $20,000.

Major Resistance Levels – $20,600, $20,700 and $21,000.

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Blockchain Association throws support behind Ripple in SEC duel

Oct 31

The United States-based crypto industry advocacy group the Blockchain Association has said it will stand with Ripple Labs amid its ongoing legal battle with the Securities and Exchange Commission (SEC), claiming the case could be very important for the future of the industry.

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Author: Cointelegraph By Stephen Katte

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Terrorists still prefer to use cash over crypto: UN officials

Oct 31

Cash and hawala remain the "predominant methods of terror financing," according to a UN official. However, "advanced" terror organizations are turning to cryptocurrencies.

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Author: Cointelegraph By Brayden Lindrea

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Terrorists are funding their horrible deeds with crypto: UN officials

Oct 31

Cash and hawala remain the "predominant methods of terror financing," according to a UN official, however, "advanced" terror organizations are turning to cryptocurrencies.

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Author: Cointelegraph By Brayden Lindrea

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World Reacts to Twitter Deal | This Week in Crypto – Oct 31, 2022

Oct 31

The post World Reacts to Twitter Deal | This Week in Crypto – Oct 31, 2022 appeared first on 99 Bitcoins.

Elon Musk's Twitter takeover boosts Dogecoin, FTX could launch a stablecoin and Ozzy Osbourne rocks …

World Reacts to Twitter Deal | This Week in Crypto – Oct 31, 2022 Read More »

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Theta Token is Trading -7.75% Below Our Price Prediction for Nov 05, 2022 – Crypto World Headline

Oct 31

Theta Token is Trading -7.75% Below Our Price Prediction for Nov 05, 2022

Theta Token is down -3.77% today against the US Dollar
THETA/BTC decreased by -2.48% today
Theta Token is currently trading 7.75% below our prediction on Nov 05, 2022
Theta Token gained 7.99% in the last month and is down -85.90% since 1 year ago

Theta Token price	$ 1.16
Theta Token prediction	$ 1.26 (8.40%)
Sentiment	Bearish
Fear & Greed index	31 (Fear)
Key support levels	$ 1.14, $ 1.10, $ 1.04
Key resistance levels	$ 1.23, $ 1.28, $ 1.32

THETA price is expected to rise by 8.40% in the next 5 days according to our Theta Token price prediction

is trading at $ 1.16 after losing -3.77% in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -3.08% in the same time period. THETA performed poorly against BTC today and recorded a -2.48% loss against the world's largest cryptocurrency.

According to our Theta Token price prediction, THETA is expected to reach a price of $ 1.26 by Nov 05, 2022. This would represent a 8.40% price increase for THETA in the next 5 days.

THETA Price Prediction Chart

Buy/Sell Theta Token

What has been going on with Theta Token in the last 30 days

Theta Token has been displaying a positive trend recently, as the coin gained 7.99% in the last 30-days. The medium-term trend for Theta Token has been bearish, with THETA dropping by -24.11% in the last 3 months. The long-term picture for Theta Token has been negative, as THETA is currently displaying a -85.90% 1-year price change. On this day last year, THETA was trading at $ 8.23.

Theta Token reached its all-time high price on Apr 16, 2021, when the price of THETA peaked at $ 16.07. The current THETA cycle high is $ 1.25, while the cycle low is at $ 0.922148. THETA has been displaying low volatility recently – the 1-month volatility of the coin is at 5.26. Theta Token recorded 16 green days in the last 30 days.

Theta Token technical analysis for today - Oct 31, 2022

The sentiment in the Theta Token markets is currently Bearish, and the Fear & Greed index is reading Fear. The most important support levels to watch are $ 1.14, $ 1.10 and $ 1.04, while $ 1.23, $ 1.28 and $ 1.32 are the key resistance levels.

Bearish sentiment for Theta Token

9 indicators are currently signaling a bullish prediction for Theta Token, while 24 indicators are showing a bearish forecast. With 73% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for Theta Token.

Crypto market is currently experiencing Fear

Theta Token moving averages & oscillators

Period	Daily Simple	Daily Exponential	Weekly Simple	Weekly Exponential
MA3	$ 1.19 (SELL)	$ 1.17 (SELL)	-	-
MA5	$ 1.16 (SELL)	$ 1.18 (SELL)	-	-
MA10	$ 1.09 (BUY)	$ 1.13 (BUY)	-	-
MA21	$ 1.05 (BUY)	$ 1.08 (BUY)	$ 1.20 (SELL)	$ 1.32 (SELL)
MA50	$ 1.07 (BUY)	$ 1.09 (BUY)	$ 2.48 (SELL)	$ 2.30 (SELL)
MA100	$ 1.19 (SELL)	$ 1.20 (SELL)	$ 4.37 (SELL)	$ 2.89 (SELL)
MA200	$ 1.41 (SELL)	$ 1.65 (SELL)	$ 2.28 (SELL)	$ 2.64 (SELL)

Period	Value	Action
RSI (14)	63.78	SELL
Stoch RSI (14)	100.00	SELL
Stochastic Fast (14)	100.00	SELL
Commodity Channel Index (20)	66.67	NEUTRAL
Average Directional Index (14)	26.05	BUY
Awesome Oscillator (5, 34)	0.08	NEUTRAL
Momentum (10)	0.27	NEUTRAL
MACD (12, 26)	0.03	NEUTRAL
Williams Percent Range (14)	0.00	NEUTRAL
Ultimate Oscillator (7, 14, 28)	73.38	SELL
VWMA (10)	1.10	BUY
Hull Moving Average (9)	1.17	BUY
Ichimoku Cloud B/L (9, 26, 52, 26)	1.09	NEUTRAL

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Theta Token is at 63.78, suggesting that THETA is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Theta Token over the last 50 days. Currently, Theta Token is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that's calculated by taking an average of the THETA closing price for the last 200 days. THETA is now trading above the SMA 200, signaling that the market is currently bullish.

The bottom line about this Theta Token prediction

After considering the above factors, we can conclude that the current forecast for Theta Token price prediction is Bearish. THETA would have to increase by 8.40% to hit our $ 1.26 target within the next five days. Moving forward, it will be important to monitor the THETA market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Theta Token price predictions click here.

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Hong Kong regulator to launch consultation on giving retail investors access to crypto – Crypto World Headline

Oct 31

Regulators in Hong Kong unveiled plans to explore opening the crypto market to retail investors.

The Securities and Futures Commission will launch a public consultation on potentially allowing retail investors to trade virtual assets (VA), with access to crypto through exchange-traded funds (ETFs) also on the table, a government announcement said this morning.

"We recognise the increasing acceptance of VA as a vehicle for investment allocation by global investors, be they institutional or individual," said the Financial Services and the Treasury Bureau, in a statement. "Having these products launched in Hong Kong will provide the connectivity between VA players and traditional financial institutions, offering investors with well-designed products, hence promoting the overall growth of the sector in our market."

The news comes as senior officials outlined plans, at the opening sessions of Hong Kong FinTech Week, to try to turn the city into a global center for the digital asset industry.

In a recorded video, finance secretary Paul Chan spoke of plans for Hong Kong to launch a Central Bank Digital Currency (CBDC).

"The HKMA has begun preparatory work to launch our very own CBDC," he said. "It is also working with the People's Bank of China, the Bank of Thailand, the Central Bank of United Arab Emirates and the Bank of International Settlements Innovation Hub in Hong Kong on a multiple CBDC project enabling real time cross border foreign exchange payment versus payment transactions."

In a separate speech, Eddie Yue, chief executive of the Hong Kong Monetary Authority, touched on a wide range of crypto-related topics, including the use of the metaverse by financial institutions for brand-building; the benefits of "composability" in DeFi; and how tokenization could be used to foster innovation in everything from bond issuance to art ownership.

But Yue cautioned that "a radically open mind does not mean that financial stability will fall by the wayside," stressing the need for the "right guardrails."

Hong Kong has long positioned itself as the world's trading gateway into China and in recent weeks officials there had spoken of their goal to also become an international virtual assets center. At the fintech summit, which this year focused on Web3 and the metaverse, visitors were given proof of attendance protocol tokens issued as a non-fungible token.

The city was one of the first to introduce a regulatory licensing regime for fund managers and exchanges that traded digital assets, with other governments around the world trialling their own approaches to supervising crypto-related activities. Singapore last week proposed new rules for retail crypto investors, including that they should not trade with borrow funds. The south east Asian city-state at the same time also issued a consultation paper on the regulation of stablecoins. Also last week, UK lawmakers voted through amendments to a finance bill that will widen regulatory supervision of digital assets.

Hong Kong lawmakers are currently reviewing new rules on crypto regulation that seek to broaden a licensing regime for crypto exchanges and service providers. At present, only professional investors in Hong Kong, who have to prove a set minimum net worth, can trade on exchanges run by BC Group and Hashnet, the only two operators to have gained licenses so far under local rules.

To date, other exchange operators looking at applying for licenses have been hesitant to proceed because of rules restricting the services they can offer, including a ban on more lucrative areas like taking leverage positions and derivatives trading, as well as limitations on providing liquidity, said Urszula McCormack, partner at King & Wood Mallesons. Firms can only offer pure automated matching, meaning international exchanges could instead offer brokerage or pursue an offshore reverse inquiry model without the same hurdles. ''While many are asking why would you bother, a lot of exchanges do value licenses, they are valuable from a reputational standpoint,'' McCormack said.

The consultation on retail access marks a clear shift from recent comments to lawmakers scrutinising the new supervisory framework for digital asset service providers. It was prudent that only sophisticated investors be allowed to trade crypto, government officials told lawmakers in July at a hearing on the proposed rule changes. After lawmakers pushed back at the meeting, suggesting that if retail investors were unable to trade on locally licensed exchanges they would use unlicensed overseas ones, officials said the regulator would likely hold a public consultation on the issue.

Leung sheds light on how ETFs might look

In a separate session at the conference, Julia Leung, deputy chief executive officer and executive director, intermediaries at the SFC, said that bringing crypto into the regulatory fold "is the only pathway to innovation."

"We could be on the cusp of the future of finance if we get it right, but that's a big if," she said.

Now is the "opportune time" to review Hong Kong's professional investor requirement, Leung added, referencing the "substantial advancement" of the crypto ecosystem in the four years that have passed since its introduction.

On the ETF front, Leung said the SFC believes the risks of crypto exposure have become "manageable" with proper guardrails. Initially, the SFC would limit the underlying assets in such instruments to bitcoin and ether futures traded on the Chicago Mercantile Exchange (CME), she added.

On Security Token Offerings (STOs), Leung said the SFC "sees potential benefits in the use of DLT in securities issuing and trading." The watchdog is also working on a circular that will outline a new regime for STOs.

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Bitcoin Whales Still Skeptical: What it Means for BTC Price

Oct 31

Bitcoin whales have maintained an eerily calm stance throughout last year after Bitcoin price made its $69,000 all-time high.

Bitcoin (BTC) price, after making a 6-week high of $21,085, has retraced back to the $20,470 level with price noting a 1.44% pullback over the last 24-hours. With sentiment still in fear and considerable profit-taking at the $21,000 price level, whale movement can be of value to judge where price movement can go next.

Bitcoin Fear and Greed Index is 31 ~ Fear
Current price: $20,634 pic.twitter.com/io8rzhdDHr

— Bitcoin Fear and Greed Index (@BitcoinFear) October 31, 2022

Bitcoin whales still in a dilemma

Whale addresses are often key to long-term price trend changes. For the most part of last year, large institutional holders and whale addresses have been dumping their Bitcoin holdings.

Bitcoin whale addresses | Source: Santiment

Whale entities had been accumulating quite heavily up until late 2021 before taking profit in late October right before the final all-time high in early November.

However, of late this cohort has shown no to low interest or movement in the market as seen in the whale transaction count data which presents no major spike.

Bitcoin whales Bitcoin whale transaction count | Source: Santiment — Bitcoin whale transaction count | Source: Santiment

While a positive trend was observed as 10,000 to 100,000 coins percent which saw a rise in their holding from 11.2% in early October to 12.13% at press time.

Bitcoin whales Bitcoin whale addresses | Source: Santiment — Bitcoin whale addresses | Source: Santiment

The same was more or less reversed as 100,000-1 million coins reduced their holding from 4.34% to 3.56%. All in all, whales still seemed to be skeptical of BTC's price movement with price action still in a larger drawdown.

How does BTC price look post profit-taking?

Age bands for BTC give a good insight into the current market condition. A look at the age bands suggests that supply from 1-day to 1-week is accumulating. Supply of less than 1-day (blue) started to rise before the recent rebound of Bitcoin but is now declining.

Data from CryptoQuant presented that on a longer timeframe, from 1-week to 1-month (purple) supply is moving sideways. This supply has been held and transferred to the 1-month to 3-month supply (red box).

On the other hand, the supply for 1-month to 3-month (green) noted a minor decline until recently, but is currently on a slight rise. Thus, as additional buying momentum weakens in the short term, it's unlikely that the rise will continue.

Furthermore, BTC price was still in a larger downtrend despite the recent gains. While short-term gains activated the retail side buying, profit taking still ensued. A spike in SOPR suggested that there was an increased urge to take profit at the $21,085 level even among the seasoned HODLers.

BTC SOPR | Source: Glassnode — Bitcoin SOPR | Source: Glassnode

Without much activity from whales and such minor gains from BTC price such profit-taking activities could continue to be the norm.

Bitcoin has built a significant demand zone between the $19,000 and $20,700 price level where over four million addresses purchased roughly 2.3 million BTC. In the short-term, the $20,850 and then the $21,167 mark would act as a key resistance for BTC's price.

BTC In/Out of Money Around the Price | Source: Into the Block — In/Out of Money Around the Price | Source: Into the Block

While the $19,540 mark would play as a strong support for Bitcoin's price.

Disclaimer: BeInCrypto strives to provide accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. You comply and understand that you should use any of this information at your own risk. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.

Got something to say about Bitcoin whales or anything else? Join the discussion in our Telegram channel. You can also catch us on Tik Tok, Facebook, or Twitter.

The post Bitcoin Whales Still Skeptical: What it Means for BTC Price appeared first on BeInCrypto.

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Author: Varuni Trivedi

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Roblox Agriculture: Potato Farming Will Appear in the Roblox Metaverse

Oct 31

Roblox farming is about to be a thing. Frozen food maker McCain Foods wants young consumers to grow potatoes in the metaverse in a new game on the platform.

The world's largest producer of finished potato products hopes to educate its customers about the challenges facing the farming community and the benefits of regenerative farming.

The farms of the future, integrated into Roblox's popular game Livetopia, allow players to grow potatoes virtually using regenerative farming techniques that improve and restore soil health. The game will be free.

Players will be rewarded when they apply regenerative techniques such as planting cover crops, integrating livestock through rotational grazing, and promoting biodiversity.

"It's important that we reach out to young consumers with the right message, in the right place, at the right moments of receptivity – meeting them where they are. This is important to raise awareness of building a more sustainable food system through regenerative agriculture," said Christine Calvenes, Global Head of Innovation and Marketing at McCain.

NFTs: The Hype is Dying Down. Should Brands Still Launch Collections? — Mmmm metaverse fries

Roblox and advertising

Meanwhile, the community is concerned about how brand ads affect underage players on platforms like Roblox. Companies use not only traditional methods of advertising, but also influence users through 'impressions.'

Roblox is a popular advertising platform among brands. McCain works not only with Roblox, but is reaching out across several media platforms. The company also teamed up with Bored and Hungry, a Bored Ape Yacht Club-style restaurant located in Long Beach, California. There are also plans to open temporary stores in London and Toronto on November 3-4 and 16-18, respectively. McCain will promote its new Regen Fries, grown using regenerative farming techniques.

Roblox Sees Losses Swell to $340m in Mid-2022

While there are some dubious efforts by advertisers to reach young kids in virtual worlds, farming potatoes has to be on the innocent side. Nothing like the taste of virtual fries! Good for your heart too, because nobody is eating them.

Got something to say about Roblox, potatoes or anything else? Write to us or join the discussion in our Telegram channel. You can also catch us on Tik Tok, Facebook, or Twitter.

The post Roblox Agriculture: Potato Farming Will Appear in the Roblox Metaverse appeared first on BeInCrypto.

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Author: Anna Kharitonova

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Reports Show Bear Market Didn't Affect Crypto Fundamentals – Crypto World Headline

Oct 31

Notably, the first half of the year brought the most drastic phase of crypto winter ever witnessed in the history of cryptocurrency. Coupled with the collapse of Terra and some crypto-related companies, the market was thrown into a state of crisis.

However, a report from Fidelity Digital Assets implies that the crypto fundamentals remained unscathed through the bearish trend. This information sprung following the manager's annual report tagged 22 Institutional Investor Digital Assets Study. This occurred as the firm x-rayed the crypto industry from an institutional perspective.

According to the research, the crypto market has fully repositioned to wade off the impact of macroeconomics it's been facing recently.

Survey Indicates Strength Of Crypto Fundamentals

Tom Jessop, the President of Fidelity Digital Assets, reacted to the research. According to him, digital fundamentals have stood firm through the storm. Also, he noted that the institutionalization of the crypto market for some years had fortified it to withstand recent impacts.

According to Jessop, institutional investors exhibited their experience scaling through different market cycles. He mentioned that the attractive factors in the market maintained their relevance as they moved across the bearish phase.

The research surveyed about 1,052 experts from different firms during the year's first half. As a result, it revealed the varying levels of crypto adoption among different types of investors.

According to the survey, adoption among institutional investors increased in some regions compared to the year's value. The US and Europe recorded an increase of 42% and 67%. Asian institutional investors have a slight drop. But the overall outcome showed that they had the highest adoption of crypto assets with an allocation of 69%.

Reports Show Bear Market Didn't Affect Crypto Fundamentals — Cryptocurrency stays short of crossing $2 Trillion | Source: Crypto Total Market Cap on TradingView.com

In terms of investor type, crypto adoption and consideration topped among high-net-worth investors, venture capital investors, financial advisors, and crypto hedge funds. The lower-scale adoption investors are endowments and foundations, pension plans, family offices, and traditional hedge funds.

Fidelity Digital announced its provision of Ethereum trading options for its institutional market earlier this month.

Top Appealing Features For Institutional Investors

The research from Fidelity Digital also recorded some appealing features, as noted by institutional investors. The surveyed participants' most appealing ones include innovation technology, decentralization, and high potential upsides.

According to the survey, the surveyed investors cited that crypto has no correlation to other assets as the fifth most appealing feature. But the crypto markets have shown a high correlation to tech stocks this year.

Additionally, the research covered investors' plans for cryptocurrency investments or purchases. It noted that 74% of the participants still had such plans, slightly higher than the 71% recorded last year.

The value is commendable, considering that 2021 was bullish while the bears dominated the 2022 digital asset market.

Featured Image From Unsplash, Charts From TradingView

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Doge coin will make new record | ELON MUSK can tweet #dogecoin meme anytime – Crypto World Headline

Oct 31

Doge coin will make new record | ELON MUSK can tweet #dogecoin meme anytime
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Maker: Can a surge of interest from these holders have MKR aiming for the stars – Crypto World Headline

Oct 31

MakerDAO has been on the radar of large investors and whales for quite some time now. One of the reasons for the renewed interest from whales could be MakerDAO's foray into short term bond investments.

_____________________________________________________________________________________

Here's AMBCrypto's Price Prediction for MakerDAO [MKR] for 2022-2023

_____________________________________________________________________________________

Swimming with the whales

WhaleStats, a crypto whales tracking platform, tweeted that MKR was on top 10 purchased tokens amongst the 5000 biggest Ethereum whales in the last 24 hours. Furthermore, at press time, the top 100 whales were holding $63 million worth of MKR.

JUST IN: $MKR @MakerDAO now on top 10 purchased tokens among 5000 biggest #ETH whales in the last 24hrs

Peep the top 100 whales here: https://t.co/kOhHps8XBB

(and hodl $BBW to see data for the top 5000!)#MKR #whalestats #babywhale #BBW pic.twitter.com/dcuCXkqvL0

— WhaleStats (tracking crypto whales) (@WhaleStats) October 29, 2022

Coinciding with this development was MakerDAO's $50 million investment in the US government bond ETFs. Additionally, 60% of that investment would be going in 0-1 year bonds and 40% of it would be going towards 1-3 year bonds.

From this development, it appears that the team at MakerDAO was constantly taking decisions to improve and strengthen the position of MakerDAO. Furthermore, MakerDAO also managed to perform well in the DeFi space. MakerDAO's TVL at the time of writing, was around $8.35 billion according to data provided by DeFiLama.

However, the overall fees and revenue collected by MakerDAO continued to decline as can be seen from the image below. Furthermore, the overall revenue collected by MakerDAO also witnessed a decline over the past month.

Source: DeFiLlama

Moreover, MakerDAO observed a massive spike in terms of social mentions and social engagements. According to social media analytics website LunarCrush, the number of social engagements of MakerDAO grew by 88% over the last week. The number of social mentions, on the other hand, increased by 46.59% as well.

However, its weighted sentiment continued to decline, as evidenced by the chart below. The weighted sentiment remained negative throughout the last month for MakerDAO. This indicated that the crypto community had more negative than positive things to say about MakerDAO over the past 30 days.

Source: Santiment

Some more declines to follow

Along with the declining sentiment, MakerDAO's volume depreciated as well. The volume went from 50 million to 36 million in the last two weeks. Coupled with that, MKR's velocity declined as well. This implied that the frequency at which the number of addresses were exchanging MKR had reduced.

Source: Santiment

At the time of writing, MKR was trading at $918 and had depreciated by 6.87% in the last seven days. Its volume had also depreciated by 31% in the last 24 hours. Despite its declining prices, MKR had managed to capture 0.1% of the total crypto market.

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Here are three big stories in crypto to look out for this coming week – Crypto World Headline

Oct 31

Hacktober is almost over. In what's likely to be a record-breaking year for hacks, this month saw the worst of it, with BNB Chain, Mango Markets, Team Finance, UvToken and FriesDAO among those targeted. Here's hoping for a quieter November.

Meanwhile, companies are continuing to announce their earnings for Q3, an important vote is scheduled for the Cosmos community on Monday and the first ever NFT.London will start on Thursday.

Earnings calls

Meta reported more than $9 billion in losses relating to its metaverse division Reality Labs earlier this week, resulting in a sharp sell-off. With overall expenses at the company rising at the social media business struggling, people have little patience for Mark Zuckerberg's pet metaverse projects.

Laith Khalaf, head investment analysis at AJ Bell said "spouting on about the metaverse when in the here and now the social media business is struggling is about as palatable for the market as Jack banging on about magic beans to his mother when all she wants is to put food on the table."

Let's hope other firms get a better response to their reports. Several more crypto and crypto-curious companies are set to announce their Q3 earnings over the next week. Microstrategy will hold its earnings call on Tuesday, followed by Robinhood on Wednesday. On Thursday, Block, Coinbase and Paypal are also expected to announce their results.

Cosmos community vote

The delayed Oct. 24 Cosmos community vote on its new security model for the network's central blockchain will take place on Monday. Called The Hub, Cosmos developers have proposed some new functionalities including interchain security and some changes to Cosmos Hub's native token, ATOM.

NFT.London

NFT.London, the British spinoff of NFT.NYC, will kick off on Thursday. It's the first time the event is coming to the UK and follows the New York edition earlier this year. Despite 15,000 attendees, conference goers noted a lack of interest in talks with lackluster attendance at sessions and little audience participation.

Nevertheless, expect plenty of NFT-themed weirdness including an NFT vending machine and a Bored and Hungry and McCains pop-up eatery collaboration.

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Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar – Economics Bitcoin News – Crypto World Headline

Oct 31

Economists Weigh in on Russia and China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar's status as the world's primary reserve currency.

Russia and China May Be Developing Gold-Backed Currency

Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine.

The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency.

Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat, explained that Chinese leaders have talked about reforming the global financial system and reducing the U.S. dollar's dominance for two decades.

"Two components in that strategy center around the development of a yuan-based global commodities trading system and efforts by China, in partnership with Russia and other like-minded countries, to challenge dollar dominance by creating a new reserve currency," he told Fox News Digital, elaborating:

In essence, Beijing and Moscow are seeking to build their own sphere of influence and a unit of currency within that sphere, in effect inoculating themselves from the threat of U.S. sanctions.

Swiss exports of gold to China in July rose to their highest level since December 2016. According to Swiss customs data, Switzerland shipped 80.1 tonnes of gold worth 4.4 billion Swiss francs ($4.4 billion) to mainland China during the month.

A research fellow and economist at the Heritage Foundation's Asian Studies Center, Min-Hua Chiang, believes that the appeal for the new Russia-China currency "will be limited" due to small trade volume, stating:

Even if both countries use a new currency for bilateral trade transactions, the relatively small trade volume will limit the impact on the U.S. dollar.

Data from the Society for Worldwide Interbank Financial Telecommunications (SWIFT), a global financial messaging firm, showed that 42.6% of global payments in August were in U.S. dollars, 34% were in euros, and 2.3% were in Chinese yuan.

The Heritage Foundation economist stressed that the yuan "is still leagues behind the USD and euro," adding that a multinational currency, like the euro, requires "a level of political and economic coordination and integration that is not present in Asia today." She opined:

The USD remains the safest, most convenient and most widely used currency in Asia and in the world today. No other currency (backed by gold or otherwise) is comparable, and that is unlikely to change in the near future.

During the BRICS Summit in July, Russian President Vladimir Putin announced that the BRICS economies plan to issue a "new global reserve currency." The BRICS nations are Russia, China, India, Brazil, and South Africa. Analysts believe the BRICS move to create a reserve currency is an attempt to undermine the U.S. dollar and the International Monetary Fund (IMF)'s Special Drawing Rights (SDRs).

Do you think Russia and China are developing a gold-backed currency that could undermine the U.S. dollar's status as the world's reserve currency? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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62% of Dogecoin hodlers in profit amid hopes of Twitter integration

Oct 31

DOGE price rallied 98.5% in the last seven days following Elon Musk's acquisition of Twitter, pushing the crypto into the eighth position in global crypto rankings.

Go to Source
Author: Cointelegraph By Brayden Lindrea

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Kraken Daily Market Report for October 29 2022 – Crypto World Headline

Oct 31

Overview

Daily spot trading volume: $473.3 million, 30 day average spot: $445.7 million.
Total futures notional: $212.6 million.
The top five traded coins were, respectively, Tether (↓0.01%), Ethereum (↑4.2%), Dogecoin (↑45%), Bitcoin (↑1.0%), and Solana (↑2.5%).
Strong returns from Mask Network (↑51%), Dogecoin (↑45%), and Covalent (↑21%).

<td width="10%" style=" font-size: 11px; font-wei

The post Kraken Daily Market Report for October 29 2022 appeared first on Kraken Blog.

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October 29, 2022 $473.3M traded across all markets today Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD
USDT $1.0002 ↓0.01% $109.8M	ETH $1620.4 ↑4.2% $105.9M	DOGE $0.1217 ↑45% $93.4M	BTC $20813. ↑1.0% $81.2M	SOL $32.881 ↑2.5% $18.9M	USDC $0.9999 ↓0.01% $15.9M	ADA $0.4207 ↑4.0% $13.4M	SHIB $1.29e- ↑10.0% $8.18M	XRP $0.4704 ↓0.5% $5.67M	MATIC $0.9335 ↓1.2% $4.57M
LINK $7.6346 ↑7.3% $3.5M	DOT $6.6367 ↑1.8% $3.36M	LUNA $0.0002 ↓2.5% $3.09M	LTC $56.63 ↑3.0% $2.73M	ATOM $13.477 ↓0.4% $2.47M	MINA $0.715 ↑12% $2.22M	AAVE $85.33 ↑0.5% $1.51M	UST $0.0383 ↓7.7% $1.21M	DAI $0.9998 ↓0.01% $1.16M	QNT $163.58 ↓2.0% $1.07M
XMR $149.12 ↑1.6% $1.03M	FLOW $1.796 ↑6.0% $971K	AVAX $18.31 ↓0.4% $968K	UNI $7.089 ↑3.2% $892K	SUSHI $1.837 ↑8.4% $856K	ETC $25.872 ↑1.5% $794K	EWT $4.072 ↓6.0% $776K	XLM $0.1135 ↑0.8% $750K	APE $4.9163 ↓1.6% $692K	INJ $2.2802 ↑11% $592K
TRX $0.0643 ↑1.2% $587K	ALGO $0.3395 ↑1.7% $581K	FIL $5.719 ↑6.5% $575K	PHA $0.1631 ↓9.7% $474K	SNX $2.522 ↑4.6% $469K	XTZ $1.4429 ↑0.06% $457K	KSM $35.89 ↑0.5% $437K	MASK $2.467 ↑51% $417K	APT $7.9522 ↓2.4% $381K	ICP $5.413 ↑3.8% $372K
SYN $1.0977 ↓10.0% $370K	MLN $23.941 ↓3.1% $369K	ETHW $6.864 ↓5.4% $367K	BCH $118.64 ↑2.4% $294K	KAVA $1.4942 ↑0.12% $276K	CRV $0.933 ↓1.5% $270K	CHZ $0.1973 ↓0.6% $266K	PAXG $1635.4 ↓0.4% $257K	MANA $0.6619 ↑3.0% $245K	DYDX $1.7593 ↑0.9% $243K
LDO $1.634 ↓2.4% $229K	EOS $1.1381 ↓0.4% $220K	WBTC $20812. ↑0.5% $204K	LUNA2 $2.4343 ↑0.3% $200K	GLMR $0.488 ↑2.7% $200K	GRT $0.0841 ↑2.3% $197K	SAND $0.8111 ↑1.9% $196K	OXT $0.0944 ↓0.02% $187K	YFI $8354.0 ↓0.07% $186K	ZEC $53.98 ↑0.6% $166K
ENJ $0.453 ↑0.4% $160K	BAT $0.3022 ↑2.9% $160K	WAVES $3.3256 ↑0.3% $155K	CQT $0.0945 ↑21% $140K	DASH $42.597 ↑0.11% $135K	COMP $50.93 ↓1.0% $125K	GALA $0.0365 ↑3.4% $122K	NEAR $3.075 ↑0.6% $115K	EGLD $56.52 ↓2.0% $108K	SC $0.0033 ↑1.8% $108K
OCEAN $0.1833 ↓0.4% $107K	FTM $0.2243 ↓1.1% $106K	AXS $9.297 ↑1.9% $106K	LRC $0.2781 ↑2.2% $104K	SCRT $0.939 ↓0.5% $102K	MKR $916.6 ↑2.2% $90.4K	NANO $0.7498 ↑1.5% $89.6K	GTC $1.934 ↑3.2% $88.1K	STORJ $0.4425 ↑2.2% $85.7K	ICX $0.2382 ↑2.4% $82.1K
ENS $17.7 ↑3.3% $80.1K	OMG $1.6794 ↑0.26% $64.1K	MOVR $11.109 ↑0.4% $59.7K	RARI $2.35 ↑2.2% $56.7K	FXS $6.966 ↑8.9% $51.9K	SGB $0.0177 ↓0.6% $49.8K	KP3R $97.7 ↑0.31% $48.3K	KNC $0.9078 ↓0.18% $46.2K	LSK $0.9865 ↑0.6% $44.9K	LPT $9.47 ↑1.1% $43.7K
MIR $0.194 ↑1.6% $42.8K	1INCH $0.623 ↑0.5% $40.7K	KILT $0.625 ↓1.1% $40.5K	BSX $0.0001 ↓4.3% $37.3K	LCX $0.0501 ↑3.3% $35.9K	ANT $1.8201 ↑0.31% $35.5K	ACA $0.159 ↓3.7% $34.0K	QTUM $2.9288 ↑1.4% $33.9K	BNT $0.4821 ↓11% $32.7K	SRM $0.7990 ↓2.3% $31.6K
REN $0.1275 ↓1.7% $30.1K	AUDIO $0.2028 ↑3.0% $30.1K	RUNE $1.5941 ↑0.8% $29.4K	SAMO $0.0097 ↑14% $28.2K	JASMY $0.0055 ↑21% $27.5K	BIT $0.4416 ↓1.2% $27.2K	GNO $130.24 ↑2.2% $26.0K	BTT $8.3e-0 ↑2.5% $25.4K	GMT $0.515 ↓1.0% $25.0K	CTSI $0.1415 ↑3.1% $24.6K
BAL $7.02 ↑4.3% $24.6K	IMX $0.621 ↓4.5% $24.0K	PERP $0.553 ↓0.4% $23.6K	ZRX $0.262 ↑1.2% $23.1K	ANKR $0.0295 ↑1.2% $23.0K	UNFI $5.941 ↑1.7% $21.9K	TOKE $1.94 ↑9.6% $21.9K	KEEP $0.1280 ↑1.2% $21.7K	CVX $5.6 ↓1.9% $19.9K	BADGER $3.509 ↑0.2% $19.3K
FET $0.0862 ↓0.9% $18.8K	GHST $1.143 ↑0.4% $18.1K	BAND $1.199 ↑3.1% $17.7K	WOO $0.1864 ↑5.0% $16.5K	RNDR $0.5423 ↓2.3% $15.7K	MV $0.1792 ↓5.7% $15.2K	TRIBE $0.237 ↓3.9% $14.7K	STX $0.3171 ↑0.7% $14.0K	KINT $1.11 ↓0.9% $13.6K	AKT $0.2543 ↓0.28% $13.5K
NYM $0.2978 ↑5.3% $13.5K	IDEX $0.0588 ↓0.7% $11.9K	XCN $0.0509 ↓0.9% $11.0K	JUNO $3.1655 ↓5.4% $10.8K	ACH $0.0118 ↓0.4% $10.1K	MNGO $0.0176 ↓1.1% $9.16K	YGG $0.309 ↑9.6% $9.03K	SPELL $0.0008 ↑1.0% $8.19K	BNC $0.128 ↑2.0% $7.85K	GST $0.025 ↑0.0% $7.7K
STG $0.5248 ↓3.2% $7.59K	KIN $1.174e ↑0.26% $7.42K	ASTR $0.0369 ↑0.0% $7.18K	SDN $0.348 ↑2.1% $7.17K	REQ $0.1096 ↑0.0% $7.15K	PARA $0.0198 ↑7.5% $7.14K	COTI $0.1089 ↑0.8% $6.96K	RLC $1.0804 ↑2.0% $6.75K	SBR $0.0019 ↓2.5% $6.23K	STEP $0.0273 ↑1.1% $6.03K
POLS $0.4552 ↑0.5% $5.88K	REP $7.366 ↓0.4% $5.81K	GARI $0.0523 ↓4.8% $5.71K	TVK $0.0365 ↑1.0% $5.33K	CFG $0.2414 ↑0.08% $5.33K	MULTI $4.6749 ↑2.4% $5.31K	FORTH $4.187 ↑2.2% $4.89K	REPV2 $7.003 ↓0.8% $4.88K	API3 $1.825 ↑1.3% $4.44K	ALCX $21.73 ↓1.9% $4.27K
RBC $0.0819 ↑6.3% $4.08K	TEER $0.4986 ↓3.9% $3.95K	ATLAS $0.0043 ↑4.5% $3.54K	MSOL $35.28 ↑1.2% $3.54K	CELR $0.0154 ↓9.3% $3.48K	BOND $4.958 ↑0.3% $3.26K	POND $0.0111 ↑5.1% $3.12K	RPL $22.95 ↓2.4% $3.03K	PSTAKE $0.1129 ↓2.6% $3.03K	ALPHA $0.1177 ↑0.8% $2.95K
POLIS $0.3410 ↑0.9% $2.91K	DENT $0.0009 ↑2.3% $2.89K	BLZ $0.0806 ↑5.8% $2.83K	NODL $0.0040 ↑4.9% $2.49K	MXC $0.0547 ↑2.3% $2.43K	KEY $0.0043 ↓4.6% $2.42K	ALICE $1.698 ↑0.4% $2.13K	GAL $2.1661 ↑0.1% $1.89K	INTR $0.0298 ↓3.0% $1.87K	AIR $0.0092 ↓4.5% $1.51K
SUPER $0.1309 ↑2.2% $1.5K	OGN $0.1442 ↓1.6% $1.42K	CVC $0.1275 ↑1.3% $1.4K	BOBA $0.2925 ↓0.27% $1.26K	TBTC $20400. ↓1.0% $1.15K	MC $0.731 ↓0.7% $1.05K	XRT $3.4393 ↓2.6% $1.03K	CSM $0.0045 ↓1.8% $1.02K	FIDA $0.407 ↑1.2% $0.88K	ROOK $30.77 ↑0.0% $0.87K
RAY $0.534 ↑0.4% $0.81K	KAR $0.259 ↓2.6% $0.81K	TLM $0.0216 ↑1.9% $0.79K	ARPA $0.0348 ↑1.0% $0.73K	RAD $2.084 ↓0.4% $0.69K	C98 $0.341 ↓3.4% $0.58K	RARE $0.1567 ↑0.8% $0.58K

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Bitcoin Price Struggles Under $21,000, Will The Bulls Power Through Again? – Crypto World Headline

Oct 31

Bitcoin price continues to remain under the $21,000 price mark as the bulls have lost force over the last 24 hours. In the past day, the coin lost 1.3% of its value.

Bitcoin price is consolidated under the tough resistance of $21,000. If BTC keeps maintaining a sideways movement, then the bulls could lose further steam and drop to the nearest support line.

The technical outlook of the coin remains positive on the one-day chart. The demand for the coin slipped slightly. However, it remains positive at the time of writing.

Buying strength was also optimistic for BTC on the 24-hour chart. If demand accumulates slightly, then BTC might attempt to revisit the $21,000 level.

A move above the $21,000 level will pave the way for a clear move to $22,000. The next levels that BTC might trade are between $28,000 and $22,000.

If BTC picks up the pace, then the coin can also revisit the $22,000 mark. Buyers need to remain confident that Bitcoin bulls will be able to move north over the next trading sessions.

Bitcoin Price Analysis: One-Day Chart

BTC was trading at $20,600 at the time of writing. The coin has been trading laterally over the last few trading sessions.

It is important that Bitcoin price doesn't lose its current support as that would pull the price of the asset down, causing the bears to gain strength.

If Bitcoin has to maintain its bullish momentum, the coin has to move past the $20,800 price level.

Moving above that level will help Bitcoin reach $21,000, crossing $21,600, which could prove to be another major resistance point, and can propel the coin to $22,000.

Losing bullish momentum will drag BTC down to $20,300 and then to $19,600.

In the last trading session, the amount of Bitcoin traded fell slightly, indicating that buying strength dropped slightly.

Technical Analysis

The altcoin has continued to display positive buying strength on the one-day chart. Buying strength for the coin has remained on the upside for most of this month.

The Relative Strength Index was still above the 60-mark despite a downtick. This meant that the coin was registering more buyers than sellers at the time of writing.

Bitcoin price was above the 20-SMA line was also an indication that demand for the coin had been positive and that buyers were driving the price momentum in the market.

BTC was displaying bullish signals as demand for the coin has remained consistently positive. The Moving Average Convergence Divergence indicates the price momentum and the overall direction of the coin.

MACD formed green signal bars, which were increasing in size, and they were the buy signal for the coin. Parabolic SAR measures the strength of the price trend.

The dotted lines were below the price candlestick, which meant that the price was on an uptrend.

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Sam Bankman-Fried set to cash in up to $100 million from Musk's Twitter purchase – Crypto World Headline

Oct 31

Sam Bankman-Fried, the founder and CEO of crypto exchange FTX, may cash in up to $100 million from Elon Musk's purchase of Twitter.

The exchange executive owned about $50 million to $100 million worth of stock in the social media giant before the acquisition completed on Thursday, a source with direct knowledge of the matter told The Block. Musk paid $44 billion to take Twitter private, which would put Bankman-Fried's stake at around 0.1% to 0.2%.

FTX declined to comment to The Block and Twitter didn't respond to a request for comment.

Musk, the billionaire CEO of Tesla and SpaceX, completed his purchase of Twitter last week following months of wrangling. He made an immediate mark on the firm by firing CEO Parag Agrawal and other top executives — while tweeting a conciliatory message to advertisers that "Twitter aspires to be the most respected advertising platform in the world." Twitter's shares were suspended from trading on Friday, before being officially delisted on Nov. 8.

Bankman-Fried had planned to be part of the Musk-Twitter deal but ended up not investing, the source said. Axios reported earlier this month that the FTX boss told Musk he was no longer interested after a phone call between the two.

Billionaire meeting

SBF, as the crypto executive is known, had committed to putting up as much as $15 billion, according to a series of texts that became public last month as part of Twitter's lawsuit to force Musk to complete the transaction.

Bankman-Fried's advisor Will MacAskill had attempted to set up a meeting between the two billionaires in March, but Musk seemed to have doubted Bankman-Fried's capability to invest in Twitter, per the series of texts. Musk had asked MacAskill whether Bankman-Fried had "huge amounts of money." At the time, MacAskill had said that Bankman-Fried was worth about $24 billion and would be willing to contribute as much as $8 billion to $15 billion. Later in April, MacAskill discussed financing with Morgan Stanley banker Michael Grimes and Grimes told Musk that Bankman-Fried would be willing to commit up to $5 billion.

Musk still appeared less interested in the deal, saying he didn't want to "have a laborious blockchain debate" with Bankman-Fried.

Meanwhile, FTX rival Binance is now a confirmed investor in Twitter. Binance had committed $500 million to invest in the social network alongside Musk's buyout and ended up wiring that much amount last week, Binance founder and CEO Changpeng Zhao tweeted on Friday. At the $44 billion price, Binance's stake in Twitter comes to around 1.1%.

As part of its investment, Binance aims to play a role in bringing social media and web3 together to broaden the use and adoption of crypto and blockchain technology, according to Zhao.

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Litecoin Price Revisits $56, What Is Next For The Bulls? – Crypto World Headline

Oct 31

Litecoin price witnessed an increase in value over the last 24 hours. In the past day, the coin surged more than 3%.

The past week for LTC has remained quite positive for the altcoin as it logged over a 9% gain in that timeframe.

The coin has continued to form higher highs on its chart, demonstrating that the bulls were in control of the price.

That caused the altcoin to break its consolidation and shatter above important resistance marks. The technical outlook for the coin was bullish at the time of writing.

The demand for Litecoin registered appreciation as demand for the coin also shot up. The coin has established strong support for itself at the $53 price mark.

Currently, LTC trades at a vital price mark as the coin has struggled to move past this price level for the past several weeks.

If the bulls fail to sustain the price at the current price, a fall through the $53 support line will bring the bears back on the chart.

At this price mark, LTC is trading at an 86% low compared to its all-time high that the coin secured in May 2021.

Litecoin Price Analysis: One-Day Chart

LTC was trading at $56 at the time of writing. After a solid consolidation, the coin has finally been able to revisit the $56 price mark.

If Litecoin has to remain bullish, it has to continue trading above its current price zone. The coin will encounter immediate resistance at $57.

A move above $57 will help LTC to touch the $60 price mark. On the other hand, a slight loss in bullish strength, can drive the altcoin's price down to $53 and then to $50.

The amount of Litecoin traded in the past session was in the green. This means that the buyers were back on the chart.

Technical Analysis

The altcoin has implied that the bulls were back as the demand for the altcoin noted an uptick on the one-day chart.

The Relative Strength Index was at the 60-mark, a sign of bullishness as buyers were more in number than sellers.

Litecoin price was above the 20-SMA line, which meant increased demand for the coin and also showed that buyers were driving the price momentum in the market.

The other technical indicators have also inclined towards the idea that bullishness has caused buying strength to increase on the one-day chart.

The Moving Average Convergence Divergence displays the price momentum and the direction of the asset.

The MACD was bullish with green histograms above the half-line, which was the buy signal for the asset. Bollinger Bands indicate the price fluctuations and volatility of the coin.

The bands were starting to expand, hinting that there could be a chance of an upcoming price fluctuation.

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Ethereum: Decoding if ETH would lose sight of $1,600 and its dominance over this… – Crypto World Headline

Oct 31

As October nears its end, Ethereum [ETH] has been able to sustain its price dominance over Bitcoin [BTC] with signs to even command better. An overview of the last thirty days showed that ETH increased 21.52% while trading at $1,628 at press time. According to CoinMarketCap, BTC's rise within the same period was a minimal 6.55%.

Here's AMBCrypto's Price Prediction for Ethereum for 2022-2023

According to Santiment, BTC was less likely to win the "battle" anytime soon. The on-chain analytic platform reported that the ETH had gained new addresses much better than that of the king coin. However, the increase had not impacted much on the network growth which decreased to 65,600.

Normally, an increase in active addresses should lead to a rise in the network growth. In turn, this should impact the price barring any other external factors.

Source: Santiment

Time to do more or else…

The on-chain analytic platform noted that ETH might need more than the current active addresses momentum to maintain the price rise. If not, the number one altcoin might lose its grip on the $1,600 region, and possibly squander the dominance it held for months. So, is there a chance that other parts of the Ethereum chain are making up for the minimal address increase?

According to Glassnode, it seemed that retail investors formed a large part of the new addresses gained. This was because the addresses with 1,000 to 10,000 ETH had decreased. At press time, addresses with 10,000 ETH were 1,160— a reduction from 1,165 on 28 October.

In comparison with the addresses with 0.1 ETH and 1 ETH, the deep-pocket investors were accumulating really low. As of this writing, the retail unique addresses count had massively increased. The implications of this trend was that ETH had potential to surpass the $1,600 zone considering that addresses continue to spike. Moreover, the coin might need a better impact from institutional investors to sustain the current momentum.

Source: Glassnode

ETH might require more action

While ETH might have done well with its smart contracts supply, maintaining its dominance might require more than investor activity. For context, the network responsiveness might need to play a major role. However, the ETH participation rate had not been able to match up the validator impact on 26 October. At press time, Glassnode data showed that the participation rate was 99.09%. At this rate, slots missed by network validators were minimal. Still, it had the potential to be better.

Interestingly, the current ETH price stood more profitable for investors. As revealed by Glassnode, the ETH supply in profit was 56.78 million. With the performance of these metrics, it was highly likely that ETH would see the BTC dominance till year end.

Source: Glassnode

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Can New Features Keep Project Pumping? – Crypto World Headline

Oct 31

Baby Doge Coin is growing into more than just a meme coin with the latest features and developments. TVL on the BabyDogeSwap platform surpassed $27 million.

BabyDogeSwap Passes $27M in TVL

A slew of new milestones over the past week from Oct. 25 has helped bring increased attention to the already incredibly popular memecoin Baby Doge Coin. The week saw Total Value Locked (TVL) on the BabyDogeSwap platform surpass $27 million, two new partnerships inked, trillions of tokens burned, and more.

BabyDogeSwap headlined the week of news by climbing past $27 million, while quickly approaching $28 million in TVL. Early hiccups with the swap couldn't slow user engagement on the platform, powered by the hype behind Baby Doge Coin. The team tweeted on Oct. 30 that new features for the swap are incoming that include more ways to observe stats on the platform.

New #BabyDogeSwap Features coming in next :

1. Leaderboards for doing swap competitions

2.@Tradingview charts integration

3. Burn tracker

4. WAGMI improvements- better wallet support, more stable RPC connections, misc improvements/fixes

What would you like to see next?

— BabyDogeSwap.com LIVE (@BabyDogeCoin) October 30, 2022

More Partnerships, More Utility for Baby Doge

The two new partnerships include one with the horse-racing metaverse game DeRace NFT and the launchpad network UniCrypt. The UniCrypt partnership brings tertiary utility to the BabyDoge Army, giving them the ability to launch projects on BabyDogeSwap, which also includes farm and staking pools.

The DeRace crossover includes "exciting events" for both communities, according to the DeRace tweet from Oct. 26. The tweet was also accompanied by a video showing a DeRace horse sporting a Baby Doge insignia on the horse's hind legs. BSC News reached out to DeRace for comment but it was not returned in time for publication.

The swap service and further partnerships are growing Baby Doge Coin into more than just a memecoin. The swap brings Decentralized Finance (DeFi) utility to the project, bringing it more in line with the characteristics of a Decentralized Exchange (DEX).

As the bear market is a time for building, the new features and services are rounding out Baby Doge Coin into a robust blockchain project with a variety of services that match popular DEXes on BNB Chain.

The micro-cap token of $150 million saw an 11.9% price increase over the last week, according to CoinGecko. The trading volume increased from around $4 million to just over a high of $14 million but remains above $13 million, as of the time of writing.

What is Baby Doge Coin:

Baby Doge Coin is the acclaimed "son" of popular meme token, DOGE. Baby Doge Coin has a hyper-deflationary system that progressively increases its scarcity and increases its liquidity. The project team hopes to ride the momentum of its "father" coin but with faster transactions and enhanced cuteness.

The Baby Doge Coin project looks out for the welfare of dogs and is actively reaching out to dog shelters & organizations that benefit dogs. Helping rescue as many dogs as possible is its goal.

Where to find Baby Doge Coin:

Website | Twitter | Telegram | Reddit

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After Years of Uncertainty, Cryptocurrency Exchanges Can Open Bank Accounts in Chile – Exchanges Bitcoin News – Crypto World Headline

Oct 31

After years of court battles in Chile, a cryptocurrency exchange has managed to open a bank account in Bci, a financial institution that established a protocol to serve these businesses. The first exchange that opened a bank account with the institution was Buda, a local exchange, which satisfied the requirements of the bank in the mentioned protocol.

Cryptocurrency Exchanges Can Now Open Bank Accounts in Chile

On Oct. 28, Bci, a bank in Chile, announced that it had developed a protocol to allow cryptocurrency exchanges to open checking accounts with the institution. This marks a milestone for cryptocurrency exchanges in the country, which had been fighting for the right to use traditional banking services for years.

The protocol developed includes a series of requirements inspired by recommendations issued by the Financial Action Task Force (FATF), which include the fulfillment of compliance processes, traceability of transactions, prevention of money laundering, financing of terrorism, and audit reports from an outside company.

A spokesperson for the bank told the local newspaper Diario Financiero that this move would be beneficial for customers of the exchanges. The bank stated:

Our objective is to accompany their clients so that they can operate in this market within a framework of security and trust.

First Account Opened

The history of the battle between cryptocurrency exchanges and banks in Chile goes back to 2018, when Buda and Crypto MKT, two local cryptocurrency exchanges, started a court battle to be able to enjoy banking services after their accounts were closed. The legal battle continues to this day, as the exchanges declare that banks are abusing their power position to cripple the possible competition that alternate financial systems including cryptocurrency might pose for them.

Buda, which is one of the exchanges still embroiled in the mentioned judicial battle with other banks, was the first cryptocurrency exchange to open a checking account in Bci, after signing an agreement with the bank. This agreement also allows other exchanges to seek banking services with the institution, having to fulfill the requirements stipulated in the established procedure.

On this development, Buda CEO Guillermo Torrealba stated:

We are happy with this agreement and grateful for Banco Bci's vision. Sooner rather than later, cryptocurrencies will be a fundamental part of banking and we want to help accelerate that moment.

In other countries of Latam, banks have been more open to offering cryptocurrency-related services, like Santander, which already has a cryptocurrency asset division and is planning to offer cryptocurrency services to its customers in Brasil.

Tags in this story

bank accounts, bci, Buda, Chile, Crypto MKT, Cryptocurrency, Exchanges, fatf, Financial Action Task Force, guillermo torrealba, itaú unibanco, Santander

What do you think about Bci opening banking services to crypto exchanges in Chile? Tell us in the comments section below.

Sergio Goschenko

Image Credits: Shutterstock, Pixabay, Wiki Commons

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The state of crypto in Northern Europe: Hostile Scandinavia and vibrant Baltics

Oct 31

The Nordics remain a cold place for crypto, but Estonia still leads as the public blockchain adopter.

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Author: Cointelegraph By David Attlee

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Tech talent migrates to Web3 as large companies face layoffs

Oct 31

Web3 companies continue to hire amidst a bull market as tech giants undergo layoffs and hiring freezes.

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Author: Cointelegraph By Rachel Wolfson

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Monday, October 31, 2022

Daily digest for Crypto World Headline, on November 1, 2022

Could Bitcoin be the answer?

The struggle continues

Spearheading global adoption

Like this:

Multiple challenges before the mining industry

November 1 Mainnet

Arena Top Race Season 1

Overview of Monster Era

FOMC Meeting Draws Near

How Will Bitcoin Respond?

President Muhammadu Buhari's Written Approval

Currency Redesign a Global Standard

Terence Zimwara

GMX price is expected to rise by 22.63% in the next 5 days according to our GMX price prediction

GMX Price Prediction Chart

What has been going on with GMX in the last 30 days

GMX technical analysis for today - Oct 31, 2022

Bullish sentiment for GMX

Crypto market is currently experiencing Fear

GMX moving averages & oscillators

The bottom line about this GMX prediction

Key Insights

Primer on dYdX

Introduction

Performance Analysis

Qualitative Analysis

Liquidity Staking Module

Trading Rewards Equation

LP Rewards Equation

Funding Grants V1.5

dYdX Chain Update

Conclusion

VIDEO: Bitcoin Price Analysis (BTCUSD): October 31, 2022

Bulls Run Into Resistance, But Bears Have Yet To Scare

Bitcoin Readies Final Nail In Crypto Winter Coffin

Will BTC Survive All Hallows' Eve?

Unrealized losses: macro bottom or another sell-off?

Unrealized profits: hidden bullish divergence same as last 2 cycles

NUPL returns to the red area but does not fall below the bottom

What is Proof of Stake?

How Does Proof of Stake Work?

Proof of Work vs Proof of Stake

Advantages

Advantages of Proof of Work

Advantages of Proof of Stake

Disadvantages

Disadvantages of Proof of Work

Disadvantages of Proof of Stake

Does Proof of Stake Lead to Centralisation?

How To Earn From Proof of Stake?

Acquiring Tokens

Creating a Node

Staking Pools

Is Proof of Stake Secure?

Final Thoughts

Team Finance projects get 90% of their funds

More on the hack

Overview

Origins

Cypherpunk Mailing List

First Attempts At Money

Liberty Dollars And E-Gold

A Decentralized Digital Ledger

Proof-Of-Work

Reusable Proofs Of Work

Bitcoin

A Culture Of Self Sovereignty

Carrying On The Legacy

Digital rupee to force crypto out?

Government control a concern for Indians

About Author

Bitcoin (BTC) Price Analysis On The Weekly Chart.

Price Analysis Of BTC On The Daily (1D) Chart

Media

Key Insights

A Primer on The Sandbox

Performance Analysis

LAND Parcel Distribution