2 years ago
Coming each Saturday, Hodler’s Digest volition assistance you way each azygous important quality communicative that happened this week. The champion (and worst) quotes, adoption and regularisation highlights, starring coins, predictions and overmuch much — a week connected Cointelegraph successful 1 link.
Top Stories This Week
Andreessen Horowitz closes $4.5 cardinal crypto money amid marketplace turmoil
Venture superior subordinate Andreessen Horowitz, oregon a16z, has unveiled a caller $4.5 cardinal cryptocurrency fund. The a16z money is the 4th of its benignant and much than treble the magnitude of its 3rd crypto concern fund. With $3 cardinal earmarked for task investments and $1.5 cardinal for early-seed projects, the money volition look to put successful companies astatine assorted stages successful their beingness cycle. Andreessen’s caller money provides a beardown indicator that task superior involvement successful the crypto marketplace remains precocious contempt grounds of a brutal carnivore market.
JPMorgan places BTC just terms astatine $38K, declares crypto a preferred alternate asset
A client-focused enactment from JPMorgan this week elaborate the banking giant’s thoughts connected Bitcoin, claiming $38,000 arsenic the asset’s just value. The seemingly bullish outlook came connected the heels of depressed terms enactment for Bitcoin, which has been rangebound beneath $30,000. But adjacent successful February, erstwhile BTC was valued astatine $43,000, JPMorgan strategists said that $38,000 was just marketplace value. This week’s lawsuit enactment from JPMorgan besides pointed to the anticipation of affirmative terms enactment for the full crypto abstraction — provided task superior concern doesn’t waver.
WEF 2022: PayPal looks to clasp each imaginable crypto and blockchain services
Per comments from vice president Richard Nash, PayPal has its sights acceptable connected giving its level much blockchain and crypto influence. “Just walking dilatory successful the crypto shield with buy/sell/hold successful definite jurisdictions,” Nash told Cointelegraph astatine the World Economic Forum (WEF) successful Davos, Switzerland. “And past looking to enactment with others to clasp everything we can, whether it’d beryllium the coins that we person contiguous successful PayPal integer wallets, backstage integer currencies oregon CBDCs successful the future.”
GameStop unveils beta cryptocurrency wallet and upcoming NFT platform
With clip ticking down until GameStop’s NFT marketplace launch, the institution has unveiled the beta mentation of an Ethereum-based wallet. The self-custody crypto and NFT retention solution is called the GameStop Wallet. The browser-based wallet volition spell hand-in-hand with the company’s aboriginal NFT marketplace. GameStop is besides processing a mobile app mentation of the wallet.
Korean watchdog begins hazard appraisal of crypto arsenic Terra 2.0 passes vote
Korea’s Financial Supervisory Service (FSS) is moving to standardize its valuation of integer plus risks successful the aftermath of the Terra ecosystem collapse. While the FSS’s standardization efforts person lone conscionable begun, they are expected to pb to a ineligible model for evaluating integer assets. Meanwhile, Terraform Labs CEO Do Kwon is moving up with an ecosystem betterment plan, having gained bulk enactment from his community. The Terra 2.0 ecosystem went unrecorded connected Friday with a caller blockchain and crypto asset.
Winners and Losers
At the extremity of the week, Bitcoin (BTC) is astatine $28,449, Ether (ETH) astatine $1,729 and XRP astatine $0.37. The full marketplace headdress is astatine $1.17 trillion, according to CoinMarketCap.
Among the biggest 100 cryptocurrencies, the apical 3 altcoin gainers of the week are BORA (BORA) astatine 18.15%, Bitcoin Gold (BTG) astatine 17.79% and Ethereum Classic (ETC) astatine 11.09%.
The apical 3 altcoin losers of the week are TerraClassicUSD (USTC) astatine -46.13%, STEPN (GMT) astatine -27.38% and Elrond (EGLD) astatine -25.70%.
For much info connected crypto prices, marque definite to work Cointelegraph’s marketplace analysis.
Most Memorable Quotations
“Decentralization genuinely puts much power and powerfulness backmost into the people’s hands wherever it belongs.”
Sonali Giovino, caput of communications for Defiyield
“Projects indispensable ticker the interests of their assemblage and users because, successful the end, that’s the astir invaluable happening you have.”
Nicky Chalabi, ecosystem occurrence and enablement nonrecreational astatine Near Foundation
“A batch of the argumentation and regulatory issues that bounds the powerfulness of moving wealth person to bash with stripping radical of their economical freedoms.”
Jeremy Allaire, CEO of Circle
“In TradiFi radical are thinking, ‘I don’t privation to suffer wealth — however tin you assistance maine support my wealthiness careless of markets?’ So, it’s precise risk-management orientated. While successful DeFi, the degens are like, ‘Gimme those triple-digit yields, woo!’”
Alexander Fazel, main concern serviceman for SwissBorg
“The emergence of the word ‘Web3’ is encouraging due to the fact that it means that radical are seeing this underlying exertion provender into antithetic applications — the ones they didn’t needfully expect.”
Gavin Wood, co-founder of Polkadot and Ethereum
“There’s perfectly nary crushed that a deed to a location couldn’t beryllium a unsocial integer plus arsenic agelong arsenic that plus is created and stored successful the close way.”
Alex Altman, main operating serviceman of Seal Storage Technology
Prediction of the Week
Bitcoin terms whitethorn bottommost astatine $15.5K if it retests this beingness humanities enactment level
Bitcoin’s terms has continued to conflict successful caller days, often trading beneath $30,000, according to Cointelegraph’s BTC terms index. However, the plus could inactive autumn considerably further, according to Rekt Capital.
Over the people of Bitcoin’s history, the asset’s terms has respected the 200-week moving mean (200WMA). “#BTC tends to wick -14% to -28% beneath the 200-MA,” Rekt Capital elaborate arsenic portion of a thread connected Twitter. “And since the $BTC 200-MA present represents the terms constituent of ~$22000… A -14% downside wick beneath the 200-MA would effect successful a ~$19000 Bitcoin,” they added. “And if #BTC were to repetition the March 2020 downside wicking extent beneath the 200-MA $BTC would revisit the ~$15500 terms point.”
FUD of the Week
‘Yikes!’ Elon Musk warns users against latest deepfake crypto scam
Did you ticker a video of Tesla CEO Elon Musk advertizing 30% gains via deposits connected a crypto platform? Be warned that the video is simply a scam. Classified arsenic a deepfake, the video was doctored to look existent but is not, arsenic verified by a Twitter remark from Musk himself. The video harnesses existent footage of Musk doing a TED Talk earlier successful 2022, altered to deceive viewers into a scam. Deepfakes are thing new, however. This caller effort utilizes Musk’s fame successful tandem with his known crypto involvement.
Crypto spam increases 4,000% successful 2 years — LunarCrush
The past 2 years person resulted successful a 3,894% uptick successful crypto-related spam, according to caller information from LunarCrush, a crypto quality outfit. One facet making detection difficult: The undesirable enactment is not each bot related, with a astonishing magnitude coming from humans. Twitter is simply a hotbed for spam, based connected the LunarCrush data.
Targeted phishing scam nets $438K successful crypto and NFTs from hacked Beeple account
A hacker oregon radical of hackers precocious took implicit the Twitter relationship of Mike Winkelmann, a.k.a. Beeple. The hacker(s) that commandeered the well-known NFT artist’s relationship posted phishing scam tweets, angling the scam astir Beeple’s caller collaboration with Louis Vuitton. Although Beeple managed to instrumentality backmost power of his Twitter account, the phishing effort pilfered astir $438,000 worthy of Ether and NFTs from victims.
Best Cointelegraph Features
The Moon ‘created’ his lavish reality… and says you can, too
“Three years and BOOM, you tin beryllium thing you privation — a celebrated musician, a billionaire. It doesn’t substance what you privation to do, thing tin beryllium done with the close mindset.”
Crypto is changing however humanitarian agencies present assistance and services
“It’s astir similar the full thought of a decentralized, distributed exemplary is precisely what worked successful presumption of however we operated and deployed the system.”
How Terra’s illness volition interaction aboriginal stablecoin regulations
The illness of algorithmic stablecoin UST created a ripple effect for the broader crypto marketplace and enactment regulators connected highly precocious alert.
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