“The majority (over 95%) of NFT collections are currently viewed as devoid of worth, reflecting the dramatic deflation of the NFT bubble. Amongst the top 8,850 collections, 18% are deemed worthless with a further 41% priced between $5 to $10.”
Month: September 2023
Co-founder Conflict Slashes GALA Value & Bitcoin BSC Emerges as Compelling Alternative
The saga of the GALA token includes claims of illicit procurement and misappropriation affecting its price. Amidst this, emerging market sector Bitcoin BSC offers speed, low fees, and reduced environmental footprint. With a staking-based investment strategy promising 8-10% APY and stable pricing, it represents innovation and opportunity in a volatile crypto landscape.
Building Your Own Cryptocurrency Wallet: Alluring Innovation or Security Nightmare?
Using Trezor’s open-source code, electronics design manager Florin Cocos constructed his own DIY Trezor cryptocurrency wallet. However, creating a functioning hardware wallet requires expertise in electronics and significant time investment. Aspects including potential security vulnerabilities and the required level of technical know-how should also be considered before undertaking such a project.
Decentralized Future: How Blockchain Transforms the Adult Content Industry Amidst Controversies
“Content creators are exploring decentralised alternatives amid issues with traditional platforms like OnlyFans and Patreon. Web3 technology promises greater control and financial security, shifting power away from intermediaries. Blockchain-based alternatives like Only1 are offering creators a chance to realise their full earning potential and evade censorship.”
Assessing Bitcoin’s Calm Amid Market Storms: A Sign of Stability or Impending Shift?
“In a surprising departure from expected volatility in response to major macroeconomic events, Bitcoin’s price dipped mildly amid the Federal Reserve’s decision to pause interest rate hikes. Despite the seemingly serene market behavior, traders anxiously anticipate a potential breakout or a stronger bearish trend, creating a blend of caution and ambition in the crypto-sphere.”
Bitcoin Network Welcomes Alpha: A Threat to Friend.tech or a New Bitcoin Era?
Alpha, a new decentralised social network protocol, is making its entry into the Bitcoin blockchain, enabling users to benefit from their digital profiles and content creation via social tokens. Unlike its rival, Friend.tech built on Ethereum, Alpha utilises Polygon blockchain for data preservation and Bitcoin for its scaling network, offering added scalability, security, and efficiency for launching decentralized applications. Amidst increasing interest, Alpha’s future looks promising, potentially transforming the rules in the blockchain universe.
Endless Delays in Mt. Gox’s Bitcoin Repayment: A Battle Between Investor Trust and Cryptocurrency Growth
“The saga of the Mt. Gox security breach that lost 850,000 Bitcoins in 2014 continues with repeated repayment postponements causing demoralization among creditors. This incident underscores the critical importance of understanding blockchain technology for cryptocurrency investment. It highlights the ongoing struggle to establish credible security measures and repayment honesty in the unregulated crypto markets.”
Resilience in Cryptocurrency: The Curious Case of Rising Stablecoin Loans by Tether Despite Planned Elimination
“In an intriguing move, Tether has seen a rise in stablecoin loans despite an earlier announcement to eliminate these. The reason being short-term loan requests from long-standing clients. Transparency issues have arisen, however, Tether defends the over-collateralization of these loans while gaining market dominance and profit. This venture provides lessons on cryptographic money lending.”
Exploring Wall Street Memes ($WSM): The Next-Gen Meme Coin Revolutionizing Crypto Investing
“Wall Street Memes ($WSM) presale is finalized, showcasing a unique meme coin investment opportunity. With over $25 million raised and a community of a million, it’s poised to become a notable 2023 launch. The appeal is furthered by a calculated pricing strategy and a rewarding staking program, offering both immediate and future investment benefits amid a rapidly closing presale window.”
The Green Shift: Bitcoin Leaps Towards Sustainability, Boosting Investor Interest
“A recent Bloomberg report suggests more than half of the power fuelling the Bitcoin ecosystem is sourced from renewable means, driving a movement towards sustainability within the crypto-verse. The trend towards greener practices could potentially attract institutional investor interest and inspire a sustainable crypto industry without sacrificing cash inflow.”
NFTs: The Great Debate – Worthless Pixels or Million-Dollar Opportunities?
Recent study by dappGambl states that 95% of NFTs, held by over 23 million investors, hold no real value. The study sparked debate among the crypto community, invoking differing opinions about the future of NFTs and their potential worth. Some view it as an opportunity for a future rebound.
Alchemy Pay: A Step Towards Regulatory Acceptance for Global Crypto Firms?
“Alchemy Pay, a cryptocurrency payment gateway, has acquired a crucial payment license in Arkansas, positioning itself alongside major players authorized to handle crypto-to-fiat transactions in the state. This move signifies their dedication to regulatory compliance, and commitment to connect fiat and crypto global economies.”
PayPal’s Venmo and the Stalled Adoption of PYUSD Stablecoin: Analysis and Future Implications
“PayPal’s mobile payment platform, Venmo, has begun offering its Ethereum-based stablecoin, PYUSD, marking a significant step toward integrating cryptocurrency with mainstream finance. Despite its robust structure and support, PYUSD’s adoption has been slow, likely due to competition and regulatory contradictions.”
Busan’s Bold Pursuit to be a ‘Blockchain City’: A Step Forward or a Step Too Far?
South Korea’s second-largest city, Busan, seeks to become a ‘Blockchain City,’ building an Ethereum-compatible mainnet for its various blockchain services. The city has allotted a budget of 100 billion won ($75 million) under the Blockchain Innovation Fund (BIF) with hopes to stimulate a seamless transition into blockchain implementation, by enhancing private services’ quality and interconnection.
The CBDC Anti-Surveillance Act: Stunting Growth or Protecting Liberty in Crypto?
“The U.S. bill known as the ‘CBDC Anti-Surveillance State Act’ aims to prevent the Federal Reserve from issuing a central bank digital currency. This bill has sparked mixed emotions, with supporters seeing it as crucial for protecting personal liberties against state control, while critics argue it could stifle innovation and trust in digital currencies.”
UK’s Virtual Parliament on Metaverse: Blockchain Prowess Versus Regulatory Endeavors
In a virtual parliament session, politicians in the UK discussed their plans for the blockchain and Web3 industries, highlighting the potential of the U.K. becoming a profoundly blockchain-enabled “smart country.” Despite this, current regulations could possibly restrict blockchain and Web3 growth and innovation.
Optimism Network’s Major OP Tokens Private Sale: Economic Genius or Price Plunge Catalyst?
“Optimism Network plans to sell 116 million OP tokens via a private sale, expected to generate $160 million. The tokens are drawn from the unreserved portion of the OP token treasury and are subjected to a two-year lock-up period. This strategic approach aims at expanding Optimism’s market reach responsibly without affecting the token’s value.”
Mt.Gox Trustee Extends Crypto Repayment Deadline: A Boon or Bane for Creditors?
Trustee Nobuaki Kobayashi extends the deadline for repaying Mt. Gox exchange’s creditors to October 2024. This move to ensure all repayment stages, including base, early lump-sum, and intermediate repayment, can be accommodated. Despite potential deviations, creditors can expect payments sequentially within the year.
Unmasking Bitcoin’s Green Revolution: Sustainable Energy Debate in Crypto Mining
“The expanding Bitcoin network experiences growing emissions at a slowing rate relative to its growth. Over half of Bitcoin mining operational costs are energy expenditures, potentially contributing to the increasing hash rate and mitigating the carbon intensity. However, the sustainable energy mix usage in Bitcoin mining remains a subject of debate, with reports of percentages ranging from 37.6% to over 50%.”
Unearthing the Past: Zero-Knowledge Proofs, Hal Finney, and the Future of Blockchain
A rediscovered video of early Bitcoin pioneer, Hal Finney, discussing zero-knowledge proofs, a cryptographic principle now integral to blockchain technology, provides insight into the early workings of Bitcoin and Satoshi Nakamoto. Finney’s contribution to privacy-enhancing technologies, including the anonymous email system and Proof of Work system, underpin today’s blockchain infrastructure.
Regulatory Conflict: ASIC’s Crackdown on Crypto Exchange Bit Trade in Australia
“The ASIC alleges that Bit Trade failed to make a target market determination before launching its margin trading product in Australia, leading to customers experiencing combined losses of about $12.95 million. This highlights the ongoing struggle to properly regulate crypto and traditional finance intersection.”
Navigating the Virtual Seas: Unmasking the Balancer DNS Attack and Assessing Crypto Security Measures
“The decentralized finance platform, Balancer, suffered a security breach due to a ‘social engineering attack’ on its DNS service provider. The attack resulted in a loss of $238,000 in cryptocurrency. It’s speculated that ‘Angel Drainer phishing contracts’ were in play, causing significant concerns about DNS security patterns and considerations for switching to more secure DNS registrars.”
Blockchain Revolution In Content Creation: A New Dawn Or Uncertain Terrain?
“Content creators are pivoting towards decentralized platforms like Web3 amid payment issues and censorship fears. Blockchain technology promises full earning potential and low deplatforming risk, reflecting a power shift from intermediaries to creators. However, questions about potential challenges and unpredictability as a result of decentralization remain.”
Regulatory Tug of War: Examining NYDFS’s New Proposal on Crypto Coin Listings
“The New York Department of Financial Services (NYDFS) proposes stricter regulations on digital coin listings, increasing scrutiny for licensees and necessitating more comprehensive risk assessment. The updated list of “greenlisted” coins can be listed by licensees without facing additional regulatory hurdles.”
Revolution in Blockchain: A Deep Dive into Coinbase’s Base and the Emerging FriendTech Phenomenon
Coinbase’s layer 2 blockchain, Base, has seen a surge in daily transactions due to FriendTech, a decentralized social network built on Base. Questions about sustainability and authentic user engagement of such platforms have risen. Meanwhile, potential market shock following the sale of tokens from bankrupt crypto exchange FTX may be avoided.
Bitcoin Defies Death Cross Predictions: A Tale of Resilience or Market Manipulation?
“BTC has surged 8% despite the looming ‘death cross’ indicating a potential downturn, suggesting resilience in the cryptocurrency’s value. The Federal Reserve’s probable unchanged rate also provides support to the Bitcoin boom. However, the future is unpredictable with shifting odds.”
Navigating Malta’s Shifting Crypto Policies: Harmonizing with EU’s MiCA Regulations or Stunting Innovation?
“Malta is reshaping its regulatory landscape for cryptocurrency firms to align with the incoming pan-European Markets in Crypto Assets (MiCA) regulations, impacting businesses from exchanges to portfolio managers. This move indicates Malta’s commitment to global standards and ensures a seamless shift for local Virtual Financial Assets (VFA) Service Providers.”
PayPal’s Entry into Stablecoin Could Disrupt Financial Markets: Quigley’s Forecast & Scrutiny
Tether co-founder William Quigley has noted that PayPal’s venture into stablecoin could revolutionize multicurrency transactions by reducing costs. However, whether PayPal will transfer these savings to end users or retain them as profit is yet to be seen.
Stable Weekend in the Crypto World: A Careful Balance or Lull before the Storm?
The weekend was a quiet one in the cryptocurrency world, with main tokens like Bitcoin and Ether remaining stable. The overall market capitalization increased slightly by 0.4%, with a notable drop in crypto futures liquidations. However, traders may need to watch the looming rate decisions from the U.S. and U.K. central banks that could affect investor sentiment.
Implications of FTX’s Bankruptcy: Asset Liquidation & Market Stability Amid Chaos
“The liquidation of Bankrupt crypto exchange, FTX’s assets, including $1.16 billion in Solana (SOL), $560 million in Bitcoin (BTC), $192 million in Ether (ETH) and other tokens, may not crash the market instantly. Post court’s approval, a cap of $50 million per week for sales is initially set preventing spontaneous market drops, but long-term market impact remains uncertain.”
Whale-Spotted: ETHER Market Drawn in Massive Naked Buy -A Bullish Joust or Deep Pitfall?
An investor speculated to be a whale has been trading substantial call options, acquiring nearly 92,600 ETH call option contracts valued at about $150 million on Deribit. This activity, despite the gloomy phase for ETH, demonstrates the optimistic outlook of some whales on the future of the ether market.
Multiswap Revolution: Avalanche’s Pioneering Leap Toward Multiple Token Swaps in a Single Transaction
In a significant advancement for blockchain technology, the CavalRe team has launched Multiswap on the Avalanche blockchain, enabling users to swap up to 300 different tokens in a single transaction. This function paves a new path for blockchain trading and empowers users to execute intricate trading strategies quickly and cost-effectively. However, the promising tool may present potential security risks.