On Tuesday, Bitcoin (BTC) traded flat, halting a % price increase over the previous week. Stocks rose on Tuesday as Russian and Ukrainian authorities said that cease-fire talks had progressed.
Gold and the US dollar fell throughout the New York trading day, while the Chicago Board Options Exchange’s CBOE Volatility Index (VIX), a popular gauge of the stock market’s expectation of volatility based on S&P 500 index options, fell to its lowest level in a month.
The ongoing recovery rally in speculative assets may be supported by fading volatility, which suggests reduced concern among market players. Nonetheless, some researchers are waiting for hints of a short-term fall, mainly in crypto. Bitcoin is rising in pace with stock indexes, and it is widely used as a strong indicator of investor sentiment. As a result, a brief drop in bitcoin might imply a drop in stock prices. Let us look at what happened in the cryptoverse.
Related article | Bitcoin & Ethereum Market Overview
Here Are The Projects Pushing Cardano’s Price To The Upside
Cardano was pushed down in the crypto top 10 by market cap as LUNA and XRP took over its former place. ADA’s price has been recovering from a multi-month downside. There are hundreds of projects building on Cardano which could be re-fueling the Ethereum Killer narrative. The inventor of Cardano, Charles Hoskinson, celebrated the growth of the project. In 2021, Hoskinson predicted a boom in the number of projects built on this network. ADA’s price could have fuel for the mid-to-long term to sustain its rally.
Glassnode’s RHODL Ratio May Suggest Bitcoin Market Is Near Capitulation
Glassnode data shows the Bitcoin RHODL Ratio’s current trend suggests that the Bitcoin market could be near capitulation. This indicator measures the USD-dominated amount of Bitcoin held by investors hodling for different periods of time. Such values usually occur during price tops. The Bitcoin RHODL Ratio has observed a sharp downtrend in recent months. The trend means that the supply of 1+-year-old holders is going up, while that of one-week-old coins is declining. Such a trend after a bull run typically signals that the market is near capitulation.
Malice Or Ignorance? The New York Times Keeps Printing Lies About Bitcoin Mining
The New York Times’ campaign against bitcoin rages on. This time they had the perfect opportunity to write a balanced article, they didn’t. The author reports one positive bitcoin mining story after another while keeping a snooty attitude and suggesting it’s all a PR move. TeraWulf has pledged to run cryptocurrency miners using more than 90 percent zero-carbon energy. Sangha Systems, which “repurposed an old steel mill in the town of Hennepin” is run by a former lawyer. Argo’s new center bypasses the grid and buys energy directly from renewable power companies.
The Top 5 Metaverses to Look Out for in 2022
It’s still very early days for this groundbreaking reimagining of our digital lives. Decentraland currently reigns supreme as the industry’s biggest metaverse, but Ertha could be next in line to the throne. Wizardia tasks players with competing in intense turn-based battles in a truly magical role-playing game. In Ertha, players must right the wrongs of the past by building a new world, from the ground up. Wizardia is billed as the first triple-A Blockchain game.
It aims to combine the blockchain with traditional game mechanics like combat, crafting, and guild wars. Earn rewards and tokens for winning battles, renting out Wizard NFTs, and selling them on the play-to-earn model. Players who wish to invest in Wizardia can do so through its dual-NFT ecosystem. Illuvium is an open-world RPG while Star Atlas is a massive sci-fi world where players must side with three unique factions. The Moon Metaverse’s lunar land grants access to a unique in-game economy in which players can start businesses, develop real estate, and create thriving communities.
If developed and managed efficiently, lunar land has the potential to generate significant real-world income in the form of the game’s token. Players are tasked with building the first lunar colony by taking control of revenue-generating NFT land plots.
Binance ‘s CEO Visits El Salvador. What Will He Meet President Bukele About?
Changpeng Zhao, CEO of Binance, visited El Salvador on Wednesday. The Central American country is the first in the world to adopt bitcoin as legal tender. Zhao met with President Bukele and discussed “strategic projects such as Bitcoin City, Surf City among others”. The first nation to declare BTC legal tender received no other than Brock Pierce. An “Official Delegation of Bitcoin Ambassadors” reportedly met with President Bukele and other government officials.
Fed Chair Powell Says Crypto Requires New Rules, Citing ‘Threats’ To US Financial System
Jerome Powell: New regulations will be required if central banks, stablecoins, and digital currencies are to be implemented in the U.S. He proposed regulating stablecoin issuers, such as banks, in October 2021. Powell says distributed technology and DeFi have the potential to improve the payment system’s efficiency. The head of the US Departments of Justice, Commerce, and State has called for a study on whether the US should pursue a digital dollar. This is an impressive recognition from the director of one of the country’s premier financial institutions. CBDCs are digital representations of dollars or other fiat currencies that governments issue.
Play to Earn Game Edensol Integrates Secretum Messaging and Trading dApp
Edensol is a gaming Metaverse that combines fantasy action with the use of groundbreaking NFTs on the Solana blockchain. The main characters of the game are heroes, warriors, rangers, mages, and pets. Edensol adopts a play-to-earn model and permits the revenue capacity of NFT which is proven to be significant. Edensol allows players to maintain ownership of all their in-game items and currency, thanks to tokenization. All data is stored on the public Solana blockchain, which keeps track of what everyone owns.
This means that players, not the developers, own all of the assets, even if a server is turned off. Secretum is an OTC, P2P trading dApp with access to smart public channels. It is fast and cheap, with low fees and instant trades due to Solana’s capability of 50,000 transactions per second. Secretum provides a safe connection in the web 3.0 world and keeps players’ possessions secure and private.
Related article | What Does Open Source Mean?
Are you ready to dive into crypto?
MX Global– Built in Malaysia for Malaysians
Legal Risk Disclosure:
Trading on cryptocurrency carries a high level of risk, and may not be suitable for all investors.
The high degree of leverage can work against you as well as for you. Before deciding to trade with MX Global, you should carefully consider your investment objectives, level of experience, and risk appetite.
The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
You should be aware of all the risks associated with cryptocurrency trading, and seek advice from an independent financial advisor.
Any opinions, news, research, analyses, prices, or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice.
MX Global Team does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.