Bitcoin sees best weekly gains in three months, but is its fundamental value in line with market price? The amount of bitcoin held on exchanges continues to decline. Billy Bambrough says bitcoin is poised for a ‘black swan shock’. Check out this history of bitcoin crashes and bear markets. Some people might say bear markets No. 4 and 5 are a part of the same bear market. Everyone is going to have to decide for themselves whether bitcoin’s fundamental value is too low or too high. Act accordingly.
Michael Saylor says Ethereum is obviously a security. The network’s average gas fee has fallen to 88 cents. What’s that mean for Ethereum’s brawl with Polygon? Seriously, will low gas fees kill the “Ethereum killers?” Probably not, and the reason is because when ETH’s price goes up again, so will gas fees. However, lower ETH fees during crypto winter means Ethereum will have more long-term staying power, but it also means competing blockchains will have to find some other way to retain and attract users besides repeating the line, “cheaper gas fees.” That’s not a selling point.
Some XRP fan boys predict Ripple’s cryptocurrency could rise as high as $35,000 to $50,000. Optimism is healthy, but what do you make of a prediction like this for a coin that hasn’t gone past $3.84?
Tron founder Justin Sun poised to spend $5 billion to help struggling crypto businesses.
Polygon takes NFT and other crypto projects from Terra. Somebody has to.
Nexo could be the biggest winner in the crypto liquidity crisis. Celsius gets a new legal team and pays off $20 million in Aave debts. Could it get worse before it gets better?
The crypto market has lost $2 trillion in eight months. Boing!
Fed vice chair says bank involvement in crypto could lead to financial instability. This is huge. It’s the first I’ve seen of anyone mentioning that bank involvement in crypto could lead to financial instability, and it’s the basis for a new call for regulation. Is she serious or blowing smoke?
How will DAOs survive the crypto winter?
Think TWICE before creating that NFT. You might think three times after reading this.
Is the Web3 discussion focused on the wrong question? Luxury brands need to take Web3 and the metaverse more seriously. McDonald’s files trademark applications for metaverse restaurant, products, and services. I’ll have a virtual Big Mac please, and, yes, I’ll have fries with that! On another note, Animoca Brands is building a Hollywood studio in the metaverse. Can I have fries with that?
Hardware crypto wallet makers are seeing a bump in revenue.
The International Monetary Fund (IMF) says central bank digital currencies (CBDCs) are more efficient payment options than debit and credit cards. Yes, but they have their associated risks. Could borderless money kill cross-border payments? (AN AWESOME READ) Do bear markets #$*@% in the woods?
The Financial Stability Board (FSB) wants to create global rules for cryptocurrencies.
Why the crypto crash is a cautionary tale for public pension funds.
Project Twelve breaks record for most NFT holders.
Don’t you think it’s time you got a Goth Girlfriend? I’d love to have a Goth Girlfriend. Does she bite?
The city of Dubai has been a leader in blockchain technology and cryptocurrencies for cities. Now, the UAE global center of commerce wants to take over the metaverse.
The Reserve Bank of India will launch its CBDC before legislation.
ING Bank spins off crypto custody platform.
Get the lowdown on this can’t-miss event
Snark and commentary in italics. Just the way you like it.
Cryptocracy is a decentralized newsletter published several times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto.
First published at Cryptocracy. Not to be construed as financial advice. Do your own research.
Image credits: Borderless money: GIS; Goth Girlfriends: AltFi
