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come every saturday Hodler’s Digest helps you keep track of all the important news stories that happened this week. He summarizes his week on Cointelegraph, including the best (and worst) estimates, adoption and regulation highlights, major coins, and predictions in one link.
Despite the US Federal Reserve’s announcement of a 75 basis point rate hike on Wednesday, the cryptocurrency market rose significantly on the same day and the momentum continued throughout the week. Quantum Economics founder and his CEO Mati Greenspan jokingly called it a “bullish rate hike” and said investors were clearly expecting much worse. Analysts such as Swyftx’s Pav Hundal have suggested that the recent rally may be due to easing inflationary pressures on gas and commodities such as corn and wheat.
On Thursday, lead Ethereum developer Tim Beiko confirmed that the final Goerli testnet merger will take place between August 6 and 12, ahead of Ethereum’s long-awaited merge and switch to Proof of Stake. clarified. After a long and long overdue roadmap since late 2020, the Ethereum network is now in the final stages of completing its biggest upgrade to date. The official Merge is scheduled for September 19th, but could be delayed further if there are issues with the Goerli testnet.
Meta CEO Mark Zuckerberg said the company wasn’t shaken by the $2.8 billion loss in the Metaverse division in the second quarter. He stressed that the company’s metaverse goals will take years to roll out, but as the sector matures, it is a “huge opportunity” to earn hundreds of billions and even trillions of dollars over time. “I’m happy to have played a key role in building this,” he said.
Cathie Wood’s investment firm Ark Investment Management, one of Coinbase’s (COIN)’s largest shareholders, reportedly sold 1.4 million shares of COIN shares on Tuesday. The sale was made through Ark’s three exchange-traded funds (ETFs) and was valued at approximately $75 million. The company reportedly held nearly 9 million shares of COIN as of late June, and has continued to gain shares since it opened trading at around $350 last April. Since then, the price has dropped significantly to just below $63. Ark probably should have shorted it last August when Jim Cramer said he was “cheap” at $248.
Elon Musk’s electric car maker Tesla has since made a profit worth $64 million. Sell 75% of BTC holdings in Q2The gain seems noteworthy given that the company was sold during a bear market.But more importantly and excitingly, Musk eventually lose interest in crypto I don’t need to contact him anymore. The company is said to still have 10,800 BTC on its books, worth around $255 million at the time of writing.
Bitcoin for the weekend (Bitcoin) is $23,559.86,ether (ethereum) and $1,674.34 When XRP and $0.36The total market capitalization is $1.08 trillion, according to Go to Coin Market Cap.
Among the 100 biggest cryptocurrencies, this week’s top 3 altcoin risers are optimism (OP) 75.71%, Ethereum Classic (etc) 58.20% and Qtum (QTUM) at 41.89%.
This week’s top three altcoin loser is Huobi Token. (HT) 9.10% Kusama (KSM) 8.98% and NEAR protocol (shortly) at 7.76%.
For more information on crypto prices, be sure to read Cointelegraph’s market analysis.
A lot of NFT projects are just speculation with no real concrete backbone or real story. Do you have a football club you root for every week?
Preston Johnson, co-owner of Crawley Town FC and co-founder of WAGMI United
Industries should not be allowed to write the rules they want to follow.
Sherrod Brown, U.S. Senator, Chairman of the Senate Banking Committee
We believe it is more appropriate for local projects to benefit the local economy and, for example, it is more important to bring products to the United States to benefit traders.
Lou Yu, Head of KuCoin Labs
“Powell is particularly good at delivering bad news. Clearly investors expected worse.”
Mati Greenspan, Founder and CEO of Quantum Economics, said:
The Metaverse is a huge opportunity for many reasons. Now even more so that developing these platforms will unlock hundreds of billions, if not trillions, of dollars over time. I feel it strongly.”
Meta CEO Mark Zuckerberg
I am worried about things that are not directly related to blockchain and the metaverse. I am worried about climate change and the division of society.
Neal Stevenson, author snow crash
Absolute Reports released a GameFi-focused report this week, estimating that the play-to-earn NFT gaming industry will be worth $2.8 billion by 2028. To hit the target, GameFi needs him to achieve a compound annual growth rate of 20.4% over his six years. , given that the sector was estimated to be worth $776.9 million last year.
Solana-based adaptive yield protocol Nirvana Finance’s algorithmic stablecoin NIRV has been cut 85% this week after the protocol was hacked with USDT worth $3.49 million. The incident was cited as a flash loan attack in which funds were siphoned from Nirvana’s Treasury, with the hack resulting in an 85% drop in his native token, ANA.
On Tuesday, distressed and bankrupt cryptocurrency lending company Celsius sent emails to customers whose email lists were leaked by employees of Customer.io, one of the company’s business data management and messaging vendors. I was notified that it was done. The company downplayed the incident, saying it “did not pose a high risk.” [its] After suspending withdrawals a few weeks ago, Celsius said the same thing about user assets, but added that they only wanted users to be careful.
Popular social media app TikTok has faced backlash over extensive data collection policies that could extract large amounts of sensitive information from users’ smartphones and computers. So cryptocurrency users are now worried about whether TikTok can scrape sensitive data such as private wallet keys. TikTok is more than just a video app. claimed.
Ethereum’s impending transition to a Proof-of-Stake consensus mechanism would transform its monetary policy and potentially make Ethereum even scarcer than Bitcoin.
Economics, explains Roderick McKinley, is the study of human behavior with regard to scarce resources and the effects of those behaviors on those resources.
A friend of mine, a veteran Web2 tech exec, joined the Web3 company in June. A switch-on operator, he asked to speak with all 16 staff members before deciding to join the company.
