Category: Cryptocurrency News

To attract more users and make blockchain gaming more mainstream, Kevin Shao says future titles should find a “balance” between and accommodate different users’ tastes.

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The Solana network had been one of the winners of 2021 after gaining widespread popularity among crypto users. Its incredibly fast transaction times had been one of the pulls, as well as the ability for developers to create decentralized applications (DApps) on the network. Since the beginning of 2022, the network has been racing toward an important milestone, which it has now successfully broken through.  Solana Surpasses 100 Billion Transactions Solana’s transaction count had been ramping up over the last couple of months. In just 2 years, it has become one of the most used blockchains in the space. Solana had taken the decentralized finance (DeFi) and non-fungible tokens (NFTs) space by storm, now commanding the second-largest market share of the NFT space of any blockchain. Related Reading: Why Investing In Terra Classic (LUNC) May Be A Bad Idea Last week, the network made it past the 100 billion transaction mark. Interestingly, the network is still in Beta testing, and it has grown so much. It had been able to grow above the delay transaction count of its largest competitor Ethereum after it clocked more than 40 million daily transactions.  SOL price trending at $35 | Source: SOLUSD on TradingView.com Solana continues to maintain its high transaction processing even with the massive growth it has experienced. At the time of this writing, the transactions per second (TPS) in the last 30 minutes were averaging around 3,000 TPS, according to data from Solana Explorer. SOL NFTs Rival Ethereum Ethereum NFTs had been the dominant tokens in the market and, understandably, remain so, even at this time. However, there have been numerous developments in the Solana NFT ecosystem that shows that the network is gearing up to rival Ethereum in this regard. One of the most recent NFT launches on the Solana blockchain, the y00ts NFT collection, is now billed as the “most hyped” NFT launch in history. It came from a critically acclaimed team behind the Dead Gods NFT collection. It sparked renewed interest in SOL NFTs, which helped to push the floor price higher. Related Reading: Staked ETH Nears 14 Million As Ethereum Readies For Breakout On Monday, Sentiment reported that SOL NFT sales had crossed 1.65 million. Solana NFT ecosystem Metaplex had also reported a significant uptick in the number of NFTs that are being minted on the platform over the month of September.  However, it is hard to predict how long this growth trend will last, given that interest in the NFT space, in general, is down. The number of new addresses that are using NFTs since its peak in mid-September is down more than 60%, from 30k to 8k. Featured image from The Market Periodical, charts from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

PRESS RELEASE. The preservation of the Euro sculpture in downtown Frankfurt, Germany, has been in danger in recent months as no sponsors were willing to provide the required financing. At the same time, the costs of maintaining the sculpture have risen considerably, mainly due to increased levels of vandalism. The independent non-profit association Frankfurter Kultur […]

A well-known, conservative crypto analyst gave a bullish commentary about the price of Bitcoin. According to a YouTuber, further proliferation of the digital asset will cause a steady rise of BTC to a million dollars. On a YouTube video, InvestAnswers signaled that BTC is approaching diminishing returns. Diminishing return is when an asset gets to a point where increased future investment yields less profit. The crypto analyst said that BTC yields investors five times less profit every new market cycle in comparison to the previous one.  Related Reading: Bitcoin Price Crashes To $19,000, But Stays Strong Against Other Assets Bitcoin Primed To Trade For Millions Of Dollars By The Year 2030 However, the analysts gave a different view on bitcoin that was in contrast with the apparent diminishing return of the digital asset. They cited that the value of networks grows as the number of participants increases, according to Metcalfe’s law.  If Bitcoin follows the trend of disruptive networks like cellphones and the internet, applying Metcalfe’s law projects a bullish case scenario for bitcoin. In that vein, a modest consideration of BTC’s future price will put it at over a million dollars by the year 2030.  The host made it clear that this prediction was strictly based on the scientific possibility that Metcalfe’s law holds for the number one cryptocurrency in the world. It is, however, not subject to wishful thinking. According to the analyst, the bitcoin digital assets’ adoption follows the historical patterns of preceding technologies.  Quite like InvestAnswers, there have been several sightings of multiple users across the internet, supporting the future appreciation of bitcoin’s price.  Crypto Market Cycles  Since speculation says bitcoin is still bullish in the long run, many are looking forward to taking advantage of the next market cycle.  The market cycle explains the ebb and flow of a market. Usually, new markets have a slow start. They pick off from a point where people show little or no interest. But as interest in the asset starts to increase, demand rises, and its price starts to inflate as a result. A complete market cycle has four phases: accumulation, markup, distribution, and markdown.  Related Reading: Do Kwon Statement: A Possible Trigger For Terra Tokens Price Surge As mounting interest takes the price of the commodity to new highs, it gets to a point where it eventually peaks. Investors become satisfied with their returns. And then sell off the asset causing tremendous sell pressure. Therefore, the price begins to drop. After one market cycle ends, the next begins shortly. Bitcoin Price Action  Bitcoin has roughly ranged between $22,000 and $18,000 for most of the 3rd quarter of this year. Investors are keenly eyeing the condition of the broader market as a go-ahead to pump funds into risky assets like bitcoin. Featured image from Pixabay and chart from TradingView.com

On Tuesday, September 27, 2022, Celsius Network CEO Alex Mashinsky submitted a letter of resignation from the company. Mashinsky added that he still plans to help the embattled crypto lender “achieve a successful reorganization.” Alex Mashinsky Resigns From Embattled Celsius — Founder Apologizes for the ‘Difficult Financial Circumstances’ After Celsius paused withdrawals on June 12, […]

After plummeting to significant lows in July, bitcoin has been locked in a sideways trading action angling towards higher prices. Still, investors are anxious to see what’s going to happen next.  Last week, the Federal Reserve’s decision to squeeze more US Dollars out of circulation with another interest rate hike sent BTC tumbling. After finding support at the $18,000 psychological level, BTC surged 7% on the 27th of September in a tremendous display of volatility. As a result, the number one digital asset recovered to trading above $20,000 for the first time in over a week.  Related Reading: Bitcoin 90-Day CDD Hits All-Time Low, What Does It Say About Market? Differed Opinions on BTC’s Volatile Tuesday Run  TradingView tracked the movement of BTC as it closed in the green by 7% on the 26th of September. Data from Bitstamp reported a price peak at $20,344 before it eventually settled at $20,200.  As expected, the move seized the attention of many traders in the crypto bubble. However, people gave bipolar reactions to the news. Other comments warned investors to avoid making hasty, late entries influenced by the fear of missing out.  Analysis from a user with a strong crypto presence on Twitter dismissed any hope of a market reversal just yet. Capo of Crypto believes there would be lower lows below $19,000 before we see any relief from the crypto winter.  Will The Bulls Run The Bears Out Of The Market This Month? BTC’s aggressive gains made September’s last Tuesday an eventful day in the crypto world. Besides users giving their varied points of view on the likely interpretation of the recent move, several crypto research firms cannot wait to jump in and give their perspectives.  According to an on-chain analysis from Santient, the future of BTC’s price rests in the hands of the bulls. If they defend the $20,000 position till Friday, cementing September with a green close, a bright future awaits BTC price action.  The crypto market data and analytics platform, Santient, also noticed a lot of users taking profits as soon as BTC crossed the $20,000 key level. It seems several traders set automatic and mentally-noted take profit signals at that mark. Santient also divulged a transaction log of users claiming profits and closing losses at the same price. How September’s Ending Might Define The Future Direction of Crypto Based on a tweet by Santient, reclaiming the $20,000 spot increases the odds of BTC closing higher than its starting point in September. And more importantly, finishing past this psychological level will have a hugely positive effect on investors’ sentiment. September has been a slow month for the world-leading crypto. Despite the 7% gains on the 27th of September, bitcoin is currently making moderate monthly gains of 0.7%. That’s a heavy contrast to the day before, which left bitcoin trailing at a 6% loss according to monthly P&L data by CoinGlass.  Related Reading: Ethereum Name Service (ENS) Looks Strong, Eyes $16 Reclaim However, it is pivotal that BTC finishes above its September starting point, no matter how little the gains. BTC will record its first “September green” month since 2016 to finish this month in profit.  As of writing, bitcoin has slightly slipped below $20,000 to trade around $19,150. Featured image from Pixabay and chart from TradingView.com

The Internet hacktivist group called on high-profile celebrities and big brands to speak up and take a stand.