Day: March 9, 2022

Ethereum gas fees drop to lowest levels since August 2021

Brian Quarmby

Gas fees for transactions on the Ethereum (ETH) blockchain have dropped to the lowest levels since August. But they’re still not cheap. According to data sourced from Coinmetrics and shared by CryptoRank Platform, the seven-day moving average cost of an Ethereum transaction as of March 9 totaled $11.14, placing it back amongst the levels recorded mid-last year before it surged dramatically to as high as $55 at the tail end of 2021. The cost of transactions on the @Ethereum network has not been this low since Aug 2021. Notably, gas…

Crypto-friendly Yoon Suk-yeol wins Sth Korean presidency, ICX surges 60%

Tom Mitchelhill

Conservative South Korean presidential candidate Yoon Suk-yeol has officially been elected as South Korea’s next president. The election was one of the closest in South Korean history, according to BBC coverage, which saw Yoon, representing the conservative People Power Party, claim victory over his more politically progressive opponent, Lee Jae-myung, by a margin of less than 1%. Cryptocurrency played a leading role in South Korea’s election debate, with both candidates releasing campaign-related NFTs. Their crypto-sympathetic stances are in opposition to former-President Moon Jae-In’s crackdown on crypto exchanges last year, and…

SXSW 2022 – Technologists Say Look Beyond NFTs for the Real Future of the Internet: Web3: Future tech or Bubble2.0? – Features

Anthony B

Amy Webb Amy Webb, a self-described “futurist” and professor at New York University, has watched fads wash in and out of SXSW festivals since 2005. In the early 2010s, Webb was in Downtown Austin during the festival when gaming companies SCVNGR (“Scavenger”) and Gowalla were handing out T-shirts outside the convention center. Along with the better-known Foursquare, Webb recalled, these companies were peddling hype generated by the collectable badges made available via geolocation on their app-based game (precursors to 2016’s Pokémon Go). At the time, “everybody was going crazy for…

Ethereum Trims Gains, What Could Spark A Fresh Increase

Aayush Jindal

Ethereum failed to surpass $2,780 and corrected lower against the US Dollar. ETH price must stay above $2,570 to start a fresh increase in the near term. Ethereum struggled to clear the $2,780 zone and corrected gains. The price is now trading below $2,650 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $2,660 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend decline if it fails to stay above $2,570 and $2,550. Ethereum…

THORChain spikes by 34% after activating synthetic assets

Brian Quarmby

The price of the native asset for cross-chain decentralized exchange THORChain (RUNE) has spiked by 34% in a day following the activating of synthetic assets on the network. At the time of writing the price had settled back to a 21% gain over the past 24 hours to sit at $5.27.. Crypto synthetics or synths are derivative tokens of other digital assets that are pegged to the value of the underlying collateralized asset such as Bitcoin (BTC) or Ether (ETH). In THORChain’s variation, the project has opted to back its…

Crypto-related stocks jump in positive reaction to executive order

Tom Mitchelhill

The stock prices of crypto-related companies have jumped as the broader market reacted positively to President Joe Biden’s long-awaited executive order requiring US federal agencies to create a regulatory framework for digital assets, as well as exploring a future digital dollar. Coinbase (COIN) surged, up 10.5% at market close, while shares in Bitcoin-evangelist Michael Saylor’s MicroStrategy (MSTR) posted a 6.4% gain, according to TradingView. Blockchain-related exchanged-traded funds (ETFs) also enjoyed the markets’ renewed confidence in crypto, with ProShares Bitcoin Strategy ETF (BITO) gaining 10% and Valkyrie Bitcoin Strategy ETF (BTF)…

Bitcoin Corrects Gains, Why Dips Could be Attractive In Short-term

Aayush Jindal

Bitcoin rallied above the $42,000 resistance zone against the US Dollar. BTC is correcting gains, but it might find support near the $40,000 zone. Bitcoin extended rally and even traded above the $42,000 resistance zone. The price is trading above $40,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $40,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start a fresh increase unless there is a close below the 39,500 support zone. Bitcoin…

Are Tai Lopez NFTs the market top? Alibaba massage gun scandal… and more

Brian Quarmby

Some in the NFT community fear the market top may be in after Tai Lopez, the controversial entrepreneur and social media star, famous for his oddball marketing tactics, launched his own NFT project. Tai lopez has to be the top. this madness cant continue. — fxnction aka i gotabigdick.eth (@0x_fxnction) March 5, 2022 The NFT project is dubbed the “OG (original garage) Social Club” and pays homage to his highly memed-on ad from 2015 in which Lopez flaunted his Ferrari and the 2000 new books in his garage to promote…

Binance unveils plans for world domination by buying up companies in every sector

Tom Mitchelhill

Binance is looking to diversify its business interests by acquiring company’s outside the scope of cryptocurrency, according to a report from the Financial Times.  “We want to identify and invest in one or two targets in every economic sector and try to bring them into crypto,” said Binance CEO Changpeng Zhao, affectionately known to his 5.3 million Twitter followers as ‘CZ’. Already holding the title of the world’s largest crypto exchange, Binance is aiming to bring in companies from traditional markets in an attempt to further increase broad-scale crypto adoption…

Will Sanctions Exist in a World That Runs on Web3?

Anthony B

Photo by Hugöl Hälpingston on Unsplash A Challenge to Crypto-Coders In a Web3 world, would you be more or less helpless to respond to events in real life? Suppose the transformation to Web3 — whatever that means to you– were already complete when the tanks started rolling into Ukraine. If you, like myself, felt horrified by this, in a world of independent agents are we then all equally responsible for stopping violent aggression? Or are none of us responsible at all? Setting aside the question of responsibility, let us examine agency. Suppose that…