Crypto Winter & Ethereum Forecasts, Sustainable Bitcoin Mix, Terra Prosecutors, NFT Refusals and 20 Crypto Jokes
This past week in crypto, South Korean researchers said that crypto winter will end before the financial year is over, but that the US Fed will continue to influence the market, and FTX CEO said that new possible pandemics are the biggest threats to the markets in the next 5 to 10 years. Novogratz sees BTC at USD 500K and says it will win as inflation rises, and a panel said that ETH is likely to end this year at USD 1,711. Then, massive liquidations pushed ETH higher as the nearing Merge boosted sentiment, Polygon unveiled its ‘Ethereum-equivalent’ ZK scaling solution zkEVM, ETC rallied again and outperformed ETH YTD (likely shortly), an increasingly bearish panel predicted ADA would finish the year at USD 0.63, and Ripple co-founder Jed McCaleb appears to have finished his infamous dumping of XRP tokens.
In miscellaneous news: 3AC creditor list was unveiled and Celsius asked creditors to ‘go long’ on crypto, TronDAO wants to “acquire” Tencent’s NFT arm, Lido said it would be expanding to Ethereum L2s while a proposal sought an ‘operating runway’ for the DAO in stablecoins, a survey found that Bitcoin mining industry had a sustainable electricity mix of 59.5% in Q2, CryptoPunk sales topped monthly charts as other blue-chip NFT collections slumped, and Minecraft said no to NFTs while Square Enix unveiled its NFT project. Meanwhile, NFT hackers attacked again with influencer Zeneca and registration platform PREMINT as the latest targets, and the Bitfinex hack suspect Heather Morgan got cleared by a court to seek a job and get paid over USD 10,000 a month. Speaking of exchanges, Coinbase, Binance, and Kraken took the top three spots in an updated crypto exchange ranking, while FTX is reportedly raising capital again.
In South Korea, a financial regulator is set to go on the warpath in search of kimchi premium traders, the new crypto regulatory agency is set to be launched in days, and prosecutors raided 15 addresses as part of the Terra probe, including Upbit and Bithumb. Elsewhere, Vladimir Putin signed a new law that will (again) ban the use of digital assets in the payments space, Andorra is slowly moving toward crypto adoption, US SEC Chief Gary Gensler said that the crypto sector is rife with ‘non-compliance’, and the Chinese citizens have begun using the digital yuan to pay “inter-city” tax bills.
Also, Vitalik revealed 6 key points in his vision for Ethereum, Coinbase’s insider trading problems appeared outside, while the ECB raised its rates for the first time in more than a decade, and 3AC founders presented 3 reasons why they failed.
Enough news recaps, let’s laugh now!
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Morning, CT! What’s up?
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True story.
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Please don’t let markets be super stupid.
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Soooo… The diet of the rich and famous now is sell low?
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Let’s check on Bitcoiners and their opinion of Elon Musk.
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BTC veterans took their position.
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Seems about right.
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Just smile through it. What’s ETH 100 anyway…………
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Oh, the poor little not-so-clever fella!
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What about my self-worth?
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Gotta catch them all.
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You’ve done well, kid.
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Ouch. Burn. Pain.
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Here’s a poetry competition with a LUNAC 1M prize!
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Progress.
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That’s before the breathing taxes.
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A short documentary on Web 3.
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NGMI Bingo, created in response to Minecraft’s anti-NFT “idiotic” stance, per the creator.
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And this is for all you trough-the-dip-holding badasses out there.
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And here’s your weekly BTC documentary.
