Analysts forecast a market size of $81.5 billion for Web3 by 2030, but the growth comes with obstacles along the way. Source: https://cointelegraph.com/news/security-and-interoperability-the-challenges-ahead-of-web3-mass-adoption
Month: October 2022
Ethereum open interest hits $7.7B, raising the chance of a short squeeze above $1.5K
The Ether futures premium remains negative, while options markets are pricing similar risks for bulls and bears. Source: https://cointelegraph.com/news/ethereum-open-interest-hits-7-7b-raising-the-chance-of-a-short-squeeze-above-1-5k
Mike McGlone Says Gold Price Is ‘Firming’ — Commodity Strategist Insists BTC, ETH Will ‘Outperform Most Major Assets’ – Economics Bitcoin News
Over the last two days, Bloomberg Intelligence commodity analyst Mike McGlone published the firm’s commodity and crypto outlook reports, and McGlone’s latest analysis details that the price of gold could resume its rally after a foundation similar to 1999 is constructed. Moreover, as far as bitcoin and ethereum are concerned, the analyst argues that the two leading crypto assets will…
Autumn bulls vs. winter bears — Will October be bullish or bearish for Bitcoin? Watch Market Talks
In this week’s episode of Market Talks, we welcome Rekt Capital, a cryptocurrency analyst who shares macro research, commentary and technical analysis related to crypto markets. He publishes a popular newsletter and provides courses that help educate traders on how to make informed decisions when buying and selling cryptocurrencies. He has more than 328,000 followers across his various social media platforms, many of…
Dapper Labs Sets Launch Date for LaLiga Golazos NFT Marketplace
In brief LaLiga Golazos, an NFT platform based on the popular Spanish soccer league, will launch in closed beta on October 27. Dapper Labs developed the Flow-based platform, which follows the format of NBA Top Shot and NFL All Day. Following the path of NBA Top Shot and NFL All Day, Dapper Labs’ previously announced NFT platform based on the…
UNI Closes in on 5-Week High, While SOL Also Climbs – Market Updates Bitcoin News
Uniswap moved closer to its highest point since late August on Thursday, as the token extended recent gains. Today’s surge is the fourth consecutive day that prices have climbed, leading the token to break out of a key resistance level in the process. Solana was also in the green, recording a seven-day high as a result. Uniswap (UNI) Uniswap (UNI)…
‘Violent’ Bitcoin breakout due as BTC open interest nears all-time high
Bitcoin (BTC) stayed rangebound at the Oct. 6 Wall Street open with traders already planning for a “violent” breakout. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin whale activity highlights the importance of $19,000 Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it moved up and down by only a matter of a few hundred dollars on the…
Europe Bans All Crypto Wallet Services to Russia in New Sanctions Package
The European Union has placed a blanket ban on all crypto services to Russian entities as part of its eighth round of sanctions against the country. “The existing prohibitions on crypto assets have been tightened by banning all crypto-asset wallets, accounts, or custody services, irrespective of the amount of the wallet,” read the European Commission’s press release on Thursday. The…
Norway’s government proposes eliminating reduced electricity tax for Bitcoin miners
Trygve Slagsvold Vedum, the finance minister of Norway, has suggested the government abolish a scheme that allows crypto data centers to pay a reduced rate on electricity. In an Oct. 6 announcement, the government of Norway proposed that data centers operating in the country be subject to the same electricity tax rates as other industries, representing a potential change in…
On-chain data points to crypto consolidation in Q3
A third quarter industry report from DappRadar citing on-chain metrics suggests cryptocurrency markets are showing signs of recovery from ongoing bearing market conditions. A number of factors played their part in a busy third quarter of 2022, with Ethereum’s Merge marking a successful shift to proof-of-stake having a notable influence on layer 2 activity before the event. The report also…