Glassnode Weekly Crypto Market Review:
- BTC continues to trade in a narrow range = an explosion of volatility is still expected - in which direction is unknown
- for bears: very low network activity + potential $1.5bn overhang from miners (potential selloffs)
- for bulls: long-term holders are unshakable - they not only continue to hold, but also accumulate
- BTC continues to trade in a narrow range = an explosion of volatility is still expected - in which direction is unknown
- for bears: very low network activity + potential $1.5bn overhang from miners (potential selloffs)
- for bulls: long-term holders are unshakable - they not only continue to hold, but also accumulate
NEAR Protocol to Wind Down Its Terra-Like Stablecoin.
To avoid another LUNA debacle, the undercollateralized USN will be phased out.
NEAR Protocol’s stablecoin is being shut down after it began to exhibit risky characteristics similar to those observed with TerraUSD, a cryptocurrency that spectacularly failed this year and lost investors billions of dollars.
https://decrypt.co/112771/near-protocol-to-wind-down-its-terra-like-stablecoin
To avoid another LUNA debacle, the undercollateralized USN will be phased out.
NEAR Protocol’s stablecoin is being shut down after it began to exhibit risky characteristics similar to those observed with TerraUSD, a cryptocurrency that spectacularly failed this year and lost investors billions of dollars.
https://decrypt.co/112771/near-protocol-to-wind-down-its-terra-like-stablecoin
Decrypt
Near Project to Wind Down Its Terra-Like Stablecoin - Decrypt
To avoid Terra's fate, popular blockchain Near Protocol will help shut down its USN stablecoin after it became undercollateralized.
🌚Terra (LUNA) Becomes Most Searched Crypto In 14 American States
Data Shows 14 US States Are Interested in Terra (LUNA), While Shiba Inu Is the Most Searched Crypto in New Hampshire.
Since the cryptocurrency market collapsed in April, many people are seeking to take advantage of the price crash and invest in selected cryptocurrencies in anticipation of a bull market. Despite the fall of the Terra ecosystem, Google Trend data show that many Americans are still interested in the project.
According to Google data compiled by Fintech Times, Terra (LUNA) is the second most popular cryptocurrency in the United States after Bitcoin.
https://cryptonews.net/news/altcoins/15007355/
Data Shows 14 US States Are Interested in Terra (LUNA), While Shiba Inu Is the Most Searched Crypto in New Hampshire.
Since the cryptocurrency market collapsed in April, many people are seeking to take advantage of the price crash and invest in selected cryptocurrencies in anticipation of a bull market. Despite the fall of the Terra ecosystem, Google Trend data show that many Americans are still interested in the project.
According to Google data compiled by Fintech Times, Terra (LUNA) is the second most popular cryptocurrency in the United States after Bitcoin.
https://cryptonews.net/news/altcoins/15007355/
cryptonews.net
Terra (LUNA) Becomes Most Searched Crypto In 14 American States
Terra’s popularity surges in the United States.Data Shows 14 US States Are Interested in Terra (LUNA), While Shiba Inu Is the Most Searched Crypto in New Hampshire. Since the cryptocurrency
✅Binance still serving Russians while seeking clarity on EU crypto sanctions
In the weeks following new sanctions from the European Union, Binance has kept its doors open for non-sanctioned Russian nationals, but that does not mean that the firm isn't complying with EU sanctions, according to Binance’s newly-appointed sanctions executive.
“There is still an active war going on in the region," he noted, adding that Binance continues to actively monitor the situation. Binance has more than 500 compliance executives globally, and about half of them are directly involved in sanctions control, including Anti-Money Laundering, name screening and other procedures.
https://www.bitcoininsider.org/article/191358/binance-still-serving-russians-while-seeking-clarity-eu-crypto-sanctions
In the weeks following new sanctions from the European Union, Binance has kept its doors open for non-sanctioned Russian nationals, but that does not mean that the firm isn't complying with EU sanctions, according to Binance’s newly-appointed sanctions executive.
“There is still an active war going on in the region," he noted, adding that Binance continues to actively monitor the situation. Binance has more than 500 compliance executives globally, and about half of them are directly involved in sanctions control, including Anti-Money Laundering, name screening and other procedures.
https://www.bitcoininsider.org/article/191358/binance-still-serving-russians-while-seeking-clarity-eu-crypto-sanctions
Bitcoin Insider
Binance still serving non-sanctioned Russians while seeking clarity on EU crypto regulations
There is a challenge of not overdoing EU sanctions against Russia, according to Binance head of sanctions Chagri Poyraz. In the weeks following new sanctions from the European Union, Binance has kept its doors open for nonsanctioned Russian nationals — but…
Binance CEO Zhao Considering Buying Banks: Report
Zhao wants his crypto exchange to become a bridge between traditional finance and crypto, according to a Bloomberg report.
Zhao did not name any specific targets, and also said he's open to either minority investments or a full acquisition.
“There are people who hold certain types of local licenses, traditional banking, payment-service providers, even banks. We’re looking at those things,” Bloomberg quoted Zhao as saying.
https://www.coindesk.com/business/2022/11/02/binance-ceo-zhao-considering-buying-banks-report/
Zhao wants his crypto exchange to become a bridge between traditional finance and crypto, according to a Bloomberg report.
Zhao did not name any specific targets, and also said he's open to either minority investments or a full acquisition.
“There are people who hold certain types of local licenses, traditional banking, payment-service providers, even banks. We’re looking at those things,” Bloomberg quoted Zhao as saying.
https://www.coindesk.com/business/2022/11/02/binance-ceo-zhao-considering-buying-banks-report/
CoinDesk
Binance CEO Zhao Considering Buying Banks: Report
Zhao wants his crypto exchange to become a bridge between traditional finance and crypto, according to a Bloomberg report.
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💥Elrond has rebranded - now it's MultiversX.
The main goal of MultiversX is to create a metaverse, and their first application will be xPortal. This is a portal that will unite the user's avatar and finances.
xPortal is a real super app.
Portal to the Metaverse.
Home for your avatar. All finance. Debit card.
Available to everyone, anywhere in the world.
https://twitter.com/beniaminmincu/status/1588162448103612416
The main goal of MultiversX is to create a metaverse, and their first application will be xPortal. This is a portal that will unite the user's avatar and finances.
xPortal is a real super app.
Portal to the Metaverse.
Home for your avatar. All finance. Debit card.
Available to everyone, anywhere in the world.
https://twitter.com/beniaminmincu/status/1588162448103612416
🔥Is Alameda Research Insolvent?
The hedge fund's finances appear to rest on the same scheme that destroyed Celsius Network. Will it work out any different for Sam Bankman-Fried?
On November 2nd, a report from Coindesk shared some critical financial details from Alameda Research, the crypto hedge fund controlled by crypto mogul Sam Bankman-Fried (“SBF”). Coindesk reported that they had obtained a copy of the hedge fund’s Q2 balance sheet. According to their reporting, the company’s balance sheet is comprised.
Bulk network
https://dirtybubblemedia.substack.com/p/is-alameda-research-insolvent
The hedge fund's finances appear to rest on the same scheme that destroyed Celsius Network. Will it work out any different for Sam Bankman-Fried?
On November 2nd, a report from Coindesk shared some critical financial details from Alameda Research, the crypto hedge fund controlled by crypto mogul Sam Bankman-Fried (“SBF”). Coindesk reported that they had obtained a copy of the hedge fund’s Q2 balance sheet. According to their reporting, the company’s balance sheet is comprised.
Bulk network
https://dirtybubblemedia.substack.com/p/is-alameda-research-insolvent
📊Comparison of BTC 2018 vs 2022 charts.
Do you think there is a difference?
Bulk news
https://social.wubits.io/wubits/home/63669f661fe44a5045654cb9
Do you think there is a difference?
Bulk news
https://social.wubits.io/wubits/home/63669f661fe44a5045654cb9
☎️Helium Network and Solana Team Up on Crypto Mobile 5G Service
Helium Mobile, a project of Helium developer Nova Labs, is announcing a partnership today with Solana Mobile. The collaboration between the popular blockchain networks will bring Helium’s mobile 5G network to Solana’s recently released Android phone, the Saga.
Using Helium 5G, Saga users will be able to connect to the internet from 6,300 active hotspot cells across the U.S. These cells, deployed and operated by other Helium users, will generate token rewards for owners each time a Saga user connects their phone to their hot spots. The program will provide Saga users with free 30-day trials of the network when the partnership takes effect.
Users can preorder the Saga on the Solana Mobile website for a $100 down payment. The phones are expected to ship in early 2023 when the partnership with Helium will officially begin.
Bulk news
Helium Mobile, a project of Helium developer Nova Labs, is announcing a partnership today with Solana Mobile. The collaboration between the popular blockchain networks will bring Helium’s mobile 5G network to Solana’s recently released Android phone, the Saga.
Using Helium 5G, Saga users will be able to connect to the internet from 6,300 active hotspot cells across the U.S. These cells, deployed and operated by other Helium users, will generate token rewards for owners each time a Saga user connects their phone to their hot spots. The program will provide Saga users with free 30-day trials of the network when the partnership takes effect.
Users can preorder the Saga on the Solana Mobile website for a $100 down payment. The phones are expected to ship in early 2023 when the partnership with Helium will officially begin.
Bulk news
🔻 The number of people who stake $SOL is declining
https://solanacompass.com/validators/change?epoch=370
https://solanacompass.com/validators/change?epoch=370
👀Sam just posted his official "sorry" on Twitter :
https://twitter.com/sbf_ftx/status/1590709166515310593?s=46&t=pRNb-EavVIcRLfqUTiYsKg
Bulk news
https://twitter.com/sbf_ftx/status/1590709166515310593?s=46&t=pRNb-EavVIcRLfqUTiYsKg
Bulk news
Twitter
1) I'm sorry. That's the biggest thing.
I fucked up, and should have done better.
I fucked up, and should have done better.
❌Crypto providers would be forbidden from touching the likes of monero or dash under proposed government amendments to anti-money laundering rules.
The European Union could ban banks and crypto providers from dealing in privacy-enhancing coins such as zcash, monero and dash under a leaked draft of a money laundering bill obtained by CoinDesk.
The Anti-Money Laundering Regulation was proposed in July 2021 by the European Commission as part of a package that would also forbid large cash transactions and create a new anti-money laundering agency, AMLA, to vet practices at large financial institutions.
Bulk news
https://www.coindesk.com/policy/2022/11/15/privacy-enhancing-crypto-coins-could-be-banned-under-leaked-eu-plans/
The European Union could ban banks and crypto providers from dealing in privacy-enhancing coins such as zcash, monero and dash under a leaked draft of a money laundering bill obtained by CoinDesk.
The Anti-Money Laundering Regulation was proposed in July 2021 by the European Commission as part of a package that would also forbid large cash transactions and create a new anti-money laundering agency, AMLA, to vet practices at large financial institutions.
Bulk news
https://www.coindesk.com/policy/2022/11/15/privacy-enhancing-crypto-coins-could-be-banned-under-leaked-eu-plans/
💸Aptos launches its own dollar-backed stablecoin ArgoUSD (USDA)
USDA is a dollar-pegged stablecoin backed by yield tokens deposited with Argo. USDA is valued at $1 when used for borrowing and repaying on Argo. USDA can be used like any other stablecoin
Bulk news
https://twitter.com/ArgoUSD
USDA is a dollar-pegged stablecoin backed by yield tokens deposited with Argo. USDA is valued at $1 when used for borrowing and repaying on Argo. USDA can be used like any other stablecoin
Bulk news
https://twitter.com/ArgoUSD
👀Someone paid over $500,000 for
‘DOGE’ username on Telegram
Among the 10 most expensive Telegram usernames sold on Fragment, one stands out for a particular reason – it is the only one related to the cryptocurrency sector, and it is one of Tesla (NASDAQ: TSLA) CEO Elon Musk’s favorite coins – the meme token Dogecoin (DOGE).
Indeed, the username @doge was sold on November 9 for 350,000 Toncoin (TON), which roughly equals to $546,000, making it the eighth most expensive Telegram username ever sold on the auction platform Fragment since its foundation, according to the data retrieved on November
This price is higher than the one reached by the likes of @alfa, @cash, @amazon, @adidas, @gold, @armani, @dior, or @elon. Topping the list as the most expensive Telegram username is @auto, which reached the price of 900,000 TON or around $1.43 million
Bulk news
‘DOGE’ username on Telegram
Among the 10 most expensive Telegram usernames sold on Fragment, one stands out for a particular reason – it is the only one related to the cryptocurrency sector, and it is one of Tesla (NASDAQ: TSLA) CEO Elon Musk’s favorite coins – the meme token Dogecoin (DOGE).
Indeed, the username @doge was sold on November 9 for 350,000 Toncoin (TON), which roughly equals to $546,000, making it the eighth most expensive Telegram username ever sold on the auction platform Fragment since its foundation, according to the data retrieved on November
This price is higher than the one reached by the likes of @alfa, @cash, @amazon, @adidas, @gold, @armani, @dior, or @elon. Topping the list as the most expensive Telegram username is @auto, which reached the price of 900,000 TON or around $1.43 million
Bulk news
❌Binance Suspended deposits of USDC (SOL) & USDT (SOL) tokens
Deposits of USDC (SOL) and USDT (SOL) have been temporarily suspended until further notice.
Bulk news
https://www.binance.com/en/support/announcement/deposits-of-usdc-sol-usdt-sol-token-suspended-ed279c11471b4c118c3fe9962eb12dc9
Deposits of USDC (SOL) and USDT (SOL) have been temporarily suspended until further notice.
Bulk news
https://www.binance.com/en/support/announcement/deposits-of-usdc-sol-usdt-sol-token-suspended-ed279c11471b4c118c3fe9962eb12dc9
👀Surf Wallet, the first community-based wallet launched on Sui blockchain
Surf Wallet launched a Chrome extension this week. People interested in Sui blockchain and who want to explore the web3 world are welcome to experience Surf Wallet.
“Today marks a milestone for not just Surf but the Sui ecosystem, as we push forth the notion of true decentralization and uphold the values of community and ownership through our MPC wallet cryptography,” said Dr. Daniel Lee, Core Contributor of Surf Wallet.
Bulk news
https://www.globenewswire.com/news-release/2022/11/18/2558864/0/en/Surf-Wallet-the-first-community-based-wallet-launched-on-Sui-blockchain.html
Surf Wallet launched a Chrome extension this week. People interested in Sui blockchain and who want to explore the web3 world are welcome to experience Surf Wallet.
“Today marks a milestone for not just Surf but the Sui ecosystem, as we push forth the notion of true decentralization and uphold the values of community and ownership through our MPC wallet cryptography,” said Dr. Daniel Lee, Core Contributor of Surf Wallet.
Bulk news
https://www.globenewswire.com/news-release/2022/11/18/2558864/0/en/Surf-Wallet-the-first-community-based-wallet-launched-on-Sui-blockchain.html