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Topics - Tanimariya

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1
Goldman Sachs has moved forward its projection for the first Fed interest rate hike to July 2022. Bitcoin’s October rally appears to have put the cryptocurrency on a firm footing ahead of central bank meetings in the U.S., U.K., and Australia to assess the stickiness of inflation and determine policy response.

The top cryptocurrency rallied nearly 40% in October, hitting a fresh record high of $66,975 as investors cheered positive seasonality and the launch of futures-based bitcoin exchange-traded funds (ETF) in the U.S. That was the biggest single-month percentage rally since December 2020, according to CoinDesk data. Source Link


2
News related to Crypto / November Is Crypto Literacy Month
« on: November 03, 2021, 04:00:40 PM »
Few people in the world possess even basic knowledge of cryptocurrency. Crypto Literacy Month aims to change that.
Crypto is on the rise. Crypto knowledge, however, is stuck on the runway: It turns out that 96% of U.S. adults can’t pass a test on crypto basics.

That’s according to the results of a survey that polled over 1,000 people in the U.S. and thousands more worldwide. Nine out of 10 people were not aware of bitcoin’s supply cap of 21 million, and less than half had an understanding of how the asset’s price is determined. Source Link


3
The play-to-earn token inspired by the hit Netflix show has plunged to nearly zero after a dizzying rise. The developers behind a crypto project inspired by Netflix’s mega-popular show “Squid Game” say they’ve left the project after the price of its affiliated token crashed to nearly zero.

The latest development shows just how risky it can be to invest in a new and hyped token in the crypto market. Source Link


4
Some analysts expect a slight pullback ahead of a seasonally strong period for crypto prices. Bitcoin has traded in a tight range over the past few days. It appears that extreme bullish sentiment is starting to cool after BTC reached its all-time high of around $66,900 two weeks ago. For now, traders are gearing up for a strong November and expect positive crypto returns heading into the end of the year. Source Link


5
News related to Crypto / This Diwali Season Indians FOMO Over Shiba Inu
« on: November 03, 2021, 03:53:41 PM »
The motivation to buy SHIB is to earn good profit in a short time,” one investor told CoinDesk. Diwali, the five-day Indian festival of lights, has arrived, with the most important occasion of “Lakshmi Pujan” – worship of the goddess of wealth and prosperity – falling on Nov. 4. The auspicious day is considered the best time to invest in financial assets and has scores of people purchasing gold and stocks each year. Source Link


6
Ethereum News & Updates / The Evolution of Ethereum’s Monetary Policy
« on: November 03, 2021, 03:52:08 PM »
The combination of DeFi, EIP 1559 and Ethereum’s coming transition to proof-of-stake has worked to create what ether holders call “Ultra Sound Money.” Ethereum’s native asset was once discredited by bitcoiners and investors alike for its lack of hard monetary policy and ever-inflationary “tokenomics.” However, the combination of decentralized finance (DeFi), Ethereum Improvement Proposal (EIP) 1559 and the coming transition to proof-of-stake has worked to create what ether holders call “Ultra Sound Money.”

Ethresear.ch recently introduced multiple new models to predict the circulating supply of ether after the Merge takes place. To understand their findings and the variables involved in their models, it’s essential to know the following:

Ether is distributed to reward miners for producing blocks under proof-of-work (PoW) and, under Ethereum 2.0, will be used to reward validators for proposing blocks in proof-of-stake (PoS).
EIP 1559 introduced a deflationary mechanism to the network, creating a base transaction fee for utilizing block space on the network and then burning that fee out of existence.
Ethereum 2.0 has an adaptive yield demand curve that attempts to ensure “minimum viable issuance,” or that enough validators are working to secure the network.
Since EIP 1559 was implemented on Aug. 4, 620,000 ETH at a market value of $2.6 billion has been burned through transaction fees. Using that burn rate and the current network demand metrics, Ethresear.ch found that around 2.5% of ether’s circulating supply would be burnt annually. Under proof-of-work, the 2.5% burn only offsets a portion (~39%) of ether’s emission schedule. However, emissions fall drastically post-Merge, potentially even making the asset deflationary.

Going back to Ethereum 2.0′s adaptive yield curve, the blockchain looks to incentivize enough validators to properly secure the network and not any more. Assuming that staking yield falls around 3%, Ethresear.ch’s model predicts that the long-term supply of ether may fall anywhere between 27.3-49.5 million ETH or 23%-42% of today’s supply.

Such a reduction in supply could easily be met with the expectation that ether will be infinitely more scarce than it is today. However, the model requires assuming that demand for blockspace will stay at current levels, which is harder to predict now than ever. Alternative layer 1s continue to grow in popularity, but layer 2 systems built atop Ethereum are just getting started. Source Link


7
CRV was up 1.87% in the past 24 hours and nearly 65% over the past week. Curve dao (CRV), the governance token for automated market maker (AMM) protocol Curve Finance, has quietly risen to become a top performer of the week, despite the craze around the Shiba Inu coin (SHIB) and other dog-themed tokens.

At the time of publication, CRV was changing hands at $4.74, according to data from Messari, up 1.87% in the past 24 hours and nearly 65% over the past week. Among tokens with at least a $1 billion market cap, including SHIB, CRV is the third-best performer this week. Source Link


8
Scheduled for Nov. 16, the upgrade has highlighted some investors’ skepticism of the Bitcoin network’s ability to adapt and expand. The last time the Bitcoin network locked in a major upgrade, in July 2017, the bitcoin cryptocurrency’s price jumped almost 50% through Aug. 23, when the changes went live.

Now, as the original blockchain network prepares for its next big upgrade in November, known as Taproot, few investors are expecting a price reaction anywhere near that scale. BTC’s price has already doubled this year and hit a new all-time high near $67,000 last week. While further gains are possible, Taproot alone likely won’t be the catalyst. Source


9
There’s a common argument that bitcoin and other cryptocurrencies are environmentally dirty – but that’s not necessarily true. Advisors need to be aware that the worlds of ESG and crypto are continuing to intersect in new ways. Environmental, social and corporate governance (ESG) and cryptocurrencies are two of the most prevalent, if not the hottest, investing trends in the world right now. But are they diametrically opposed?

I’ve always considered myself a somewhat mission-agnostic investor. Yes, I’d like to avoid investing directly in criminal or immoral activity when possible, but I emphasize simplicity when I deploy my money in financial markets. That sets me apart from many investors my age, who want to make sure they put their money to work in ways in accordance with their values. Source


10
Bitcoin News & Updates / Why Bitcoin’s Volatility Is a Feature, Not a Bug
« on: November 03, 2021, 03:43:59 PM »
Many investors see bitcoin’s price volatility as problematic, but it’s actually beneficial. I’m a financial advisor, and my clients own bitcoin. A few of them remind me frequently about bitcoin’s price volatility, which they consider to be a problem.

I used to think that, too, but I was wrong. Bitcoin’s price volatility isn’t a bug – it’s a feature, and one that’s ultimately beneficial. Source Link


11
Dogecoin Forum / The Bias That Propels Shiba Inu and Dogecoin
« on: November 03, 2021, 03:42:26 PM »
A coin with a lower per-unit price can make novice investors feel a little richer. Bitcoin may be the alpha dog of crypto, but for many small retail investors these days, dogecoin and shiba inu are the pick of the litter.

Binance subsidiary WazirX, India’s largest cryptocurrency exchange, suffered outages as traders jumped into the fray, buying shiba inu and stressing out the platform’s servers to the point that trade executions were delayed this past Wednesday. Over half a billion dollars’ worth of trades were done on WazirX that day, the highest of any crypto exchange in India, CEO Nischal Shetty tweeted. Source Link


12
Since mid-October, we have seen higher interest in year-end and March upside ETH exposure, Deribit noted. Ether (ETH), the native cryptocurrency of Ethereum’s blockchain, refreshed record highs on Tuesday amid continued bullish flows in the options market. Meanwhile, tokens associated with virtual reality games extended their rally on Facebook’s recent championing of the metaverse as the next evolution of social technology.

Ether rose to $4,480 during the European hours, surpassing the previous peak price of $4,458 reached on Oct. 29, according to the CoinDesk 20. Source Link


13
The renewed buying amid rising inflation expectations across the globe suggests investment is the primary use case for bitcoin. Bitcoin whales or large investors with ample capital supply appear to be buying again as fears of inflation lurching out of control strengthen the case for investing in store of value assets.

Large investors, holding at least 1,000 BTC, snapped up 142,000 coins last week, taking the cumulative tally to nearly 200,000 BTC - the highest in 2021, blockchain analytics firm Chainalysis’ market intel report published on Tuesday said.
Source Link


14
The average transaction fee on Ethereum has risen a staggering 2,300% since late June. Rising costs on Ethereum, the world’s largest smart-contract blockchain, appear to be driving investors to coins associated with layer 2 products facilitating faster and cheaper transactions and rival programmable blockchains.

The average fee on Ethereum, known as gas, has risen by a staggering 2,300% since late June. It has more than doubled to $56 in the past two weeks alone, according to data provided by the blockchain analytics firm Glassnode, and the seven-day moving average of the mean transaction fee has hit a record high of $52. Source Link


15
Ethereum News & Updates / Looking Into Ethereum’s Economic Future
« on: November 03, 2021, 03:26:58 PM »
While weeks and months in crypto often feel like years, it has only been 60 days since the hard fork that contained EIP 1559 was implemented on Ethereum’s mainnet. A world of data regarding EIP 1559 has surfaced, but ultimately the upgrade is still in its infancy. In fact, a few weeks ago, I wrote about Nic Carter’s somewhat overly eager Ethereum takeaways and how it was probably too early to estimate EIP 1559′s impact on the network. However, this week I am changing my tone a bit and looking at the potential implications of the upgrade’s base fee burn and its effect on the longevity of Ethereum.

At a very high level, under proof-of-work (PoW) and proof-of-stake (PoS), Ethereum uses block rewards to incentivize miners and validators of the chain. This incentive helps properly secure the network by paying those that are beneficial for confirming transactions and logging the state of the chain, which in turn encourages competition to grow a large and distributed base of miners/validators. Source Link


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