PRESS RELEASE. Adshares (ADS) is putting another stake in Metaverse’s advertising territory through a partnership with Sandbox (SAND). The long-awaited partnership by the Adshares community has finally come to a head. The official partnership will bring the two projects closer, in order to jointly devise a clear and transparent path for the development of Adshares […]
Talk around the Cardano (ADA) Vasil hard fork has been circulating in the crypto space for the last month. The hard fork which was supposed to go live back in June had been rescheduled to July due to security issues but that has in no way reduced the enthusiasm around the hard fork. The new date was set for the end of July and as the day draws closer, the community has been buzzing with excitement. However, this has failed to translate to its price. The Cardano Vasil Hard Fork The growth of the Cardano network has made it a necessity for it to be upgraded and IOG, the developer behind Cardano, has not failed its community in this regard. The network with the most development going on, as it is being referred to, Cardano has seen an influx of developers looking to build on its platform. There are currently more than 1,000 projects being built on the network and this is despite the fact that it uses a programming language that is not as popular as others. Related Reading | Ethereum Liquidations Ramp Up As Price Struggles To Hold $1,100 With the Vasil hard fork, Cardano will be able to provide even cheaper transactions on its network. It will implement the CIP-33 mechanism that will lower the cost of transactions by reducing their size. This new “weight” will also make for faster transactions across the network. Additionally, the Vasil upgrade will make it much easier for developers to adapt to the Cardano network. This newfound ability will no doubt pull more devs to the platform, which will further the growth of the network. It is even expected that the ease of use may trigger an influx of developers who have been working on other Layer 1 blockchains to move to Cardano. ADA price declines to $0.42 | Source: ADAUSD on TradingView.com These are the reasons why there is a lot of excitement in the community regarding this. However, the impact on the price of the digital asset has been less than promising, prompting concerns about the ability of Vasil to move the price. ADA Continues To Struggle Back in June when the Vasil Hard Fork had received a set date, the price of Cardano’s native token ADA had soared off the back of the news. The same was expected to happen as the hard fork draws closer this time around but that has not been the case. Even with the community buzzing about the hard fork, the price of ADA has refused to budge. The digital asset continues to maintain its low momentum and there has been no significant recovery in its price. Instead, the price has been on a downtrend over the last seven days, touching as low as $0.42. Related Reading | Ethereum Price Falls Below Critical Level, Will It Hold $1,000? Nevertheless, the hard fork remains about two weeks out and as it draws closer, there is no doubt anticipation will grow. This will most likely happen in the last week of July when anticipation is highest. Hence, there could be some recovery in store for the cryptocurrency. However, it is not expected to be large given its current momentum. Indicators put the price of ADA at around $0.5 leading up to the hard fork, but anything higher may not be possible. Featured image from Zipmex, charts from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
According to the latest crypto prediction report published by the product comparison platform finder.com, 77% of 53 fintech specialists polled in the report say cryptocurrency markets are officially in a “crypto winter.” The poll further explains that only 29% of the report’s participants believe the bear market will end in 2022. While bitcoin is expected […]
Crypto research firm Nansen published a report shared with NewsBTC, on non-fungible tokens (NFTs) and their performance amid the persistent bearish trend across the industry. NFTs have been a hot sector since 2021 as they facilitated broader adoption of digital assets but have taken a toll as Bitcoin and other cryptocurrencies trend to the downside. Related Reading | Axie Infinity Sales Record A Massive Slump, Losing Over $120 Million According to Nansen, their NFT Blue Chip-10 and NFT 500 Indexes displayed strength last month. At that time, Bitcoin and larger cryptocurrencies were on the brink of recording yearly lows. BTC’s price crashed to a multi-year low of around $17,500. In the meantime, the Nansen Blue Chip-10 reported a 23.6% increase as early as June 2022 and possibly hinted at a decrease in selling pressure for the industry. In June, the crypto market saw a capitulation event as major crypto investment firms became forced sellers as they defaulted on standing debt obligations. NFTs operated as an indicator of future activity for the crypto market. As Nansen’s Indexes trended in the opposite direction throughout June, the positive performance extended and hinted at the formation of a local bottom for Bitcoin and Ethereum. The report claimed the following on the general sentiment across the crypto market and how NFTs have been outperforming even in periods of turmoil and persistent selling pressure: Blue Chip NFTs led the trend reversal in June (…). Although the last week of June saw a bear market rally within the broad crypto market, it appears that this uptrend started earlier in the NFT market. All Non-Fungible Token (NFT) sectors recorded a bounce in June (when measured in ETH), except for Gaming NFTs at the end of Q2 2022. In July, the crypto market has seen some relief with the price of Bitcoin trading above its 2017 all-time high, north of $20,000. However, BTC’s price has been losing steam and seems poised for another period of sideways movement and consolidation. What NFTs Spell For The Crypto Market In The Short Term Additional data provided by Nansen claims the recovery in this sector might be unsustainable. Despite the positive performance in June, these digital assets record a decrease in trading volume, transaction count, and active users, as seen below. This decrease in sector activity corresponds with NFTs investors reducing risk and adapting to current macro-economic conditions. Nansen noted: (…) Within the Ethereum (ETH) DeFi sector, we are witnessing a dramatic deleveraging event with a sizable investor base realizing historically significant losses. A ‘risk off’ sentiment is still highly evident in the NFT market and the limited liquidity in the NFT market hints that this uptrend might not sustain (…). Related Reading | Negative CPI Report Causes Bitcoin Market Cap To Lose $15 Billion In 10 Minutes However, the sector records an increase in first-time buyers and a decrease in its Buyers-Seller Ratio. This metric is used to measure the general sentiment across NFT investors which seems to be more optimistic than in the overall crypto market and, according to Nansen, “highlights the development of NFTs as a sector”.
submitted by /u/Perfect_Ability_1190 [link] [comments]
Over 4,567,000 merchants across the country now accept the e-CNY as payment.
If this isn’t allowed feel free to delete. I wanted to hear from those that play videos games, as the title says, would soulbound NFTs for gaming achievements be interesting to you? I’ve been interested in NFT usecases outside of the typical make money/flipping use cases. I love the idea behind “soulbound NFTs” and think…
Read more
Michael Barr was on the advisory board of Ripple Labs from 2015 to 2017 and has called on lawmakers to create a regulatory framework on stablecoins to prevent the risk of runs.
The international organizations affirm the “same risk, same regulation” principle by extending decade-old rules to the rapidly expanding new financial technology.
(follow up post) As some of you may know StarkNet is a leading L2 solution for Ethereum but has a host of problems including: – proprietary software – 8 billion dollar valuation – no native evm compatibility As it turns out the 3AC founder leaked something about the StarkNet token today and shortly after StarkNet…
Read more
