MOBOX: MOMO CUP 2022
How to participant?
1. Connect Your Wallet.
2. Follow MOBOX & CoinMarketCap on Twitter + RT (MOMO CUP 2022 tweet), tag 3 friends, and comment with your BNB wallet address on the MOMO CUP Tweet.
3. Enter your Twitter username on the Event page.
4. Now, you are qualified to earn Campaign rewards (To be eligible, you must follow our Twitter for the final lucky draw)
LINK https://goo.su/gC6tPU
World Cup MOBall:
Is an exclusive branded BEP-1155 token. Win World Cup MOBall for 1 limited-edition legendary MOMO NFT. 100 Footballs can be swapped for 1 World Cup MOBall.Complete Event tasks to get more Footballs. You can also catch NFT MOMOs with the World Cup MOBall in the MOMOverse, using your World Cup MOBall in the MOMOverse will not affect the lucky draw.
MOMO CUP Tasks:
Complete social activities and game challenges in World Cup tasks to earn Footballs to swap World Cup MOBalls.
Participate in social activities and game challenges after completing the MOMO World Cup 2022 campaign.
Game Challenges will reset progress and rewards at UTC 9:00 every day during the event period.
CoinMarketCap Legendary MOMO:
Get excited about this exclusive and limited CoinMarketCap MOMO. The Legendary MOMO has special abilities and the highest hash power giving you an edge across all games on the MOBOX platform.
LINK https://goo.su/5EGoqT
MOMO NFT:
MOMOs are the names we have given our NFTs. These NFTs come in different qualities ranging from common, uncommon, rare, unique, epic and The Legendary MOMO. They can be used in MOMO mining and games on the MOBOX platform.
Mystery Box:
Is an NFT blind box that comes in the form of BEP-1155 token. Open the blind box to get a MOMO with random quality and hash power according to the probability.
MOBOX Avatar:
Is a virtual representation of YOU used in the MOMOverse.
MOMOverse:
A whole new world of fun where MOBOXers can create, explore, and be who they want to be in a MOMO World of infinite possibilities.
BOXing:
A special BOX (ing) device for the wild MOMOs, which they call the “MOBall”; Use your World Cup MOBalls and catch those wandering MOMO’s in the MOMOverse.
Clash of Moland:
Developed by the Infinite Game Studio and launched on the MOBOX platform! Build your empires, manage their resources, and conquer other territories!
Token Master:
A casual turn-based idle game.
Block Brawler:
A RPG game that focuses on battle strategy.
ChainZ Arena:
An idle RPG game that cross diverse platforms to give players a unique gaming experience.
MOland Defense:
Developed by the E-Game Studio and launched on the MOBOX platform! A tower defence game full of futuristic technology elements...
The landscape with most alternative coins is similar to the landscape with #BTC, which means that there are few very significant price movements. Almost all altcoins with a larger #capitalization have a slight increase. These include #Ethereum, #Binance Coin, #Ripple, #Cardano, #Solana, #Dogecoin, #Polkadot, #MATIC, #Tron and #Avalanche. #Shiba Inu is sitting with a small loss. Ethereum Classic stands out as the best producer among the alternatives with a larger capitalization. It rose 6.5% on the day and is trading above $23.
#Aptos, on the other hand, soared by 32% on the day. As a result, the native #cryptocurrency of the recently launched #blockchain network has approached $10. However, these winners did not push the capitalization of the cryptocurrency #market up, as the indicator remains at about $ 920 billion.
Electric car manufacturer #Tesla, owned by American businessman Elon Musk, has released a financial report for the third quarter of 2022. According to the document, there are still about 10,800 #BTC in the company's account.
Thus, Tesla did not sell bitcoins in the last quarter, but only stored them. To date, the value of its digital assets has remained at $218 million, as in the second quarter of 2022.
In early 2021, Tesla announced the purchase of $1.5 billion worth of bitcoins in order to "diversify and increase revenue from cash reserves."
By the end of the second quarter of 2022, electric car manufacturer Tesla had converted approximately 75% of its own bitcoins into cash, which brought it $936 million.
As the head of Tesla, Elon #Musk, said at the time, the sale of BTC was due to the need to increase liquidity during the period of anti-bullying restrictions in China. At the same time, the businessman stressed that Tesla is open for future investments in bitcoin.
Despite this sale, Tesla remains one of the largest public companies owning bitcoins. Only #MicroStrategy (130,000 BTC) and #Galaxy Digital Holdings (16,400 BTC) are ahead of it.
#Bitcoin #CryptoCurrency #IlonMask
The leading decentralized exchange #PancakeSwap (PCS) based on #BNB Chain offered the community to support the integration of the #Aptos protocol.
Voting will open on October 21 and will end in 48 hours.
As arguments, the platform team listed the advantages of Aptos:
This is a new generation of L1 network with low transaction costs;
the developers have deep experience in the field of #Web3 as ex-employees of Novi;
close relationship with the Aptos team.
The developers also announced their intention to turn PancakeSwap into a multi-chain #protocol.
#CryptoCurrency
The Senior Superintendent of the Indian Police in Firozabad confirmed the launch of the pilot project "Complaints to the police in blockchain", which is being conducted jointly with the #Polygon team.
In the video, Officer Ashish Tiwari said that the new pilot project is based on #blockchain technology, the main advantage of which is that information cannot be forged or changed.
#CryptoCurrency
The #Shiba Inu token (SHIB) is breaking popularity records among Indian cryptocurrency traders, despite the strict taxation on cryptocurrencies
Indian investors ignore large coins, such as #Bitcoin or #Ethereum, and buy up the popular memcoin Shiba Inu (SHIB). According to the Nomics analytical resource, this is the most actively traded #token on the country's leading crypto exchanges, including #Zebpay, #WazirX and #CoinDCX.
#SHIB accounts for 9% of the total trading volume in India. SHIB traders on Zebpay have traded almost $120 million since the beginning of the year.
According to WazirX, meme cryptocurrency accounts for 10% of the total trading turnover of the platform. Over the past ten months, traders have traded almost $1 billion. India's other major crypto #exchange, CoinDCX, reported that SHIB accounts for more than 5% of total trading volume.
These are large volumes for a country where there are high taxes for #cryptocurrency trading. When the country introduced new rules, trading volumes dropped sharply, and many companies were forced to withdraw from the local market. A common cryptocurrency legislation is unlikely to appear in India in the near future, because there is no global consensus on this issue yet.
The theory of cyclical price dynamics suggests that the #cryptocurrency market goes through the same phases over and over again, which are repeated at relatively long intervals.
Together they form a cycle. As soon as it ends, a new one begins. Such theories give us a sense of order and harmony, as well as a ghostly hope that we will be able to predict long-term price dynamics.
The cycle theory for bitcoin is based on the classical Wall Street model, which combines the cyclical nature of traditional markets with the phases of psychological reactions of investors.
The tendency of the human psyche to repeat lies at the heart of the cyclic theory. At any point in the cycle, investors are somewhere on the emotional state map from extreme fear (depression) to extreme greed (euphoria).
Hackers are airdropping NFTs to Solana cryptocurrency owners pretending to be alerts for a new #Phantom security update that lead to the installation of password-stealing malware and the theft of cryptocurrency wallets.
This ongoing attack started two weeks ago, with NFTs titled 'PHANTOMUPDATE.COM' or 'UPDATEPHANTOM.COM' sent that claim to be warnings from the developers of Phantom.
When opening the NFTs, wallet owners are told that a new security update has been released and that they should click the enclosed link or visit the site to download and install it.
"Phantom requires all users to update their wallets. This must be done as soon as possible," reads the warning in the fake Phantom update NFT.
#NFT #Solana #SOL
The #Portuguese government has proposed a new tax policy on cryptocurrencies, which should come into force within the framework of the national budget in 2023. The document on macroeconomic strategy and fiscal policy states that Portugal will levy a tax of 28% on capital gains from digital currencies received during the year. In addition, the country's authorities plan to introduce a 4% tax on any transactions with cryptocurrencies, and to levy a stamp duty. The initiative is aimed at equating the #cryptocurrency industry with others and laying the foundation for further work with it. Currently, 28% tax is the standard capital gains tax in Portugal. While the bill is under consideration. Back in May, the country's #finance minister Fernando Medina said that Portugal would have its own tax policy regarding cryptocurrencies. However, Congress rejected a proposal to impose an income tax on digital currencies. Now Portugal is a favorable place not only for users of digital currencies, but also for people engaged in ordinary business, since the country offers flexible visa and immigration opportunities, as well as a sparing tax policy.
#Huobi crypto exchange has announced the delisting of 21 trading pairs with #HUSD stablecoin. On October 10 token trading in pairs with #USDC, #BTC, #ETH, #HT, #DOT, #XRP, #LINK, #BCH, #LTC, #ADA, #EOS, #ETC, #TRX, #CRV, #UNI, #FIL, #ALGO, #OMG, #AAVE, #THETA and #DOGE was discontinued.
In the announcement of October 10, the project team asked users who own cryptocurrencies included in the published list to choose other assets other than HUSD to pair with them. Pending orders in a pair to HUSD will be canceled, funds will be automatically returned to the client's #exchange account, the message says.
After the publication of this message, the USD #stablecoin lost its peg to the US dollar and dropped to $0.84 per coin, according to #CoinGecko. After that, the coin recovered briefly, but then began to fall in price again. At 20:30 Moscow time HUSD is trading around $0.89.
At the same time, the rate of another #cryptocurrency exchange Huobi rose by 25% per day from $ 4.12 to $ 5.14. This happened after on the evening of October 9, the founder of the #Tron #blockchain and a well-known supporter of cryptocurrencies, Justin Sun, announced that he had joined the Advisory Board (Global Advisory Board) of the Huobi Global exchange. At the moment, the coin is trading around the $5 mark.
Last Monday, another adjustment of the complexity of #bitcoin mining took place. This indicator increased by 13.55% - this is the largest increase in complexity since May 2021 (according to BTC.com ).
The previous adjustment took place on September 14, then the difficulty jumped to 32.05 T. On October 10, it rose to 35.61 T.
In parallel, there is a record high activity of miners. According to Blockchain.com , on the eve of the bitcoin #hashrate set a new record, exceeding 257 Eh/s.
#BTC Mining #Blockchain
The creator of #Cardano "stole" the Twitter account of another cryptocurrency with hundreds of thousands of subscribers.
The Twitter account of the Ethereum Classic (#ETC) community with more than 670 thousand subscribers was suddenly renamed #Ergo yesterday, that is, now it allegedly belongs to the creators of a completely different project. The event is ambiguous, and its cause was the founder of Cardano, Charles Hoskinson, who de facto owns the account. A new account has already been created for #Ethereum Classic investors in this social network, but now it is clear that several years of efforts to form a circle of like-minded people have gone to waste.
The account was created by a certain cryptocurrency lover under the nickname #ChuckSRQ. Later, he gave the login to the account to the team from IOHK, that is, the information fell into the hands of Hoskinson. De facto, he gained control of the account, although he himself has always been considered "public": that is, one that belongs to the community.
That is, Hoskinson was the "keeper" of the account even after the conflict between #IOHK and Ethereum Classic. Everyone knew about this problem, and Hoskinson was repeatedly asked to transfer the data to people interested in the community. He ignored the requests, but later posted the following message:
"Return it? This is my account. As for the refund, I can't get back the millions of dollars spent on development, nor the years of time spent supporting the blockchain, which seemed to want to do nothing but maintain the status quo. We'll assume that we're even."
In this quote, Hoskinson hints at the "ingratitude" of Ethereum Classic fans: allegedly, IOHK seriously invested in the project, while receiving a refusal on its upgrade proposal, besides, Hoskinson also took part in its development. More fuel was added to the fire by a quote in the video of the head of Cardano, where he openly hints that the account is his "trophy". This outraged Bob Summerville, executive director of ETC Cooperative.
Only escalation followed. At the end of September, after the publication of the video, Hoskinson began openly threatening the altcoin community. Here's a quote.
"You're right, Bob. I really have to use this account for something. I will give a task to my team about this."
Actually, almost two weeks after the tweet, Charles Hoskinson turned his threat into reality — he renamed the account, so now it "belongs" to the Ergo community. The project received coverage of hundreds of thousands of subscribers overnight, although many of them, of course, do not like it very much.
#ADA #ETC #CryptoCurrency #Twitter
The FTX #cryptocurrency exchange announced the phased launch of the #Visa debit card in more than 40 countries in Latin America, #Europe and #Asia.
It is expected that residents of Spanish- and Portuguese–speaking countries of the Americas will receive #FTX cards first, followed by Europe before the end of this year, then Asia.
Evolve Bank & Trust became a partner in the implementation of the initiative.
The firm has opened a waiting list.
The program started in January 2022 with the #USA.
Visa FTX users will be able to safely pay with a card around the world due to their exchange balances in digital currencies 24 hours a day, 365 days a year in 80 million different retail outlets.
Assets will be automatically converted to the required amount in fiat at the time of payment.
The #exchange said it would not charge transaction fees, but warned about the possibility of third-party fees.
Top Crypto Gainers:
The reasons why the #cryptocurrency will return to new records again after the #crypto winter!
1.Cryptocurrency is becoming more and more useful;
2.Institutional investors have paid attention to the potential of the cryptocurrency and want more;
3.Cryptocurrency is Regulated, not prohibited by the authorities.
On Friday, October 7, the quotes of the first #cryptocurrency #Bitcoin failed the level of $ 20,000 after the release of the report on the unemployment rate in the United States. Over the past day, the asset has fallen by 2.5%, according to #CoinGecko.
According to the report, in September unemployment was 3.5% against the previous value of 3.7%. This is the lowest figure since April 2021, but it exceeded analysts' expectations.
Such data will force the Fed to take a more hawkish position and raise the key rate by 75 basis points.
In March, the Fed raised its key rate to 0.25–0.5% for the first time since 2018. The local rally of cryptocurrencies continued until April — bitcoin and #Ethereum reached annual highs.
In May, the Fed raised the rate again — by 50 bp. Against the background of the news, the first cryptocurrency broke the $40,000 mark, but on the same day it failed the $36,000 level, which was the beginning of a protracted correction.
In June, the agency raised the key rate immediately by 75 bps for the first time since 1994. The indicator reached the level of 1.5–1.75%, to which bitcoin reacted with a short-term increase to $ 22,000, and then collapsed below $ 18,000.
The July rate increase to 2.25–2.5% led to an increase in the digital asset market. Bitcoin then broke the $22,000 mark, and Ethereum — $1,500.
At the end of the summer, digital gold reacted to the speech of Fed Chairman Jerome Powell by falling below the $21,000 level.
On September 21, the Fed again raised the rate range by 75 bp, to 3-3.25%. The cryptocurrency market reacted with a fall.
#BTC
Cheaper miners began to enjoy significant demand.
After the ex-head of #Bitmain, Jihan Wu, builds a strategy for significant investments in the purchase of mining equipment, it became known that one of the key investment players in the cryptocurrency market, Grayscale, is coming out with the same intentions.
To this end, Grayscale Digital Infrastructure Opportunities (GDIO), a division of Grayscale, is being created, which will work closely with Foundry, whose mining pool Foundry USA is the largest in the world. It is worth recalling that both Grayscale and Foundry have a single parent organization — Digital Currency Group (DCG), which also manages a number of media resources on the topic of cryptocurrencies.
70 thousand new #ETH wallets appear daily
In a tweet published by Santiment, it says that recently there has been a large influx of new investors in the network. Thus, about 70,000 new wallets appear in #Ethereum every day; this is the highest number since August.
In addition, after the long-awaited merger update that occurred on September 15, causing uncertainty and turning into a news sale event, as well as significantly pushing the price down, the Ethereum supply held by digital exchanges fell to its previous lows of 14.6%.
The #DeFi Sovryn protocol was hacked for more than $ 1 million. According to the #Sovryn platform team, the hacker provided liquidity to the #RBTC loan agreement, closed his loan with a swap using #XUSD collateral, redeemed his #iRBTC token and sent WRBTC back to #RskSwap to complete the instant swap.
As a result, the attack allowed the criminal to withdraw 44.93 RBTC and 211,045 #USDT from the protocol. The protocol developers reported that they were able to return the assets when the attacker tried to withdraw them. At the moment, about half of the assets have been recovered.
Sovryn team member Edan Yago stated that this is the first case of protocol hacking in two years. He claims that Sovryn is constantly undergoing external audit, and its security policy provides a valuable reward for detecting errors. The team confirmed that the users' assets were not affected and any missing amount from the credit pools will be returned by the project.
#CryptoCurrency
Bitcoin exchange #Binance burned the first batch of #Terra Classic (#LUNC) in the amount of 5.6 billion tokens. In the equivalent of #USDT, this amounted to about $1.86 million.
The company has launched an initiative aimed at supporting the price of the coin. The mechanism involves burning spot and margin trading commissions in LUNC/BUSD and LUNC/USDT pairs.
The first batch of coins sent to the address of the incineration is calculated for the period from September 21 to October 1.
#CryptoCurrency #BURN #Token
According to Nomics, 12,100 tokens have stopped trading this year (no trading for at least 1 month), but continue to exist on the market. This is twice as much as the total number of "zombie tokens" for all previous years.
#CryptoCurrency #Token
Recently, the participants of #EthereumPoW (ETHW) have prepared and officially published the first list of projects from their ecosystem. We have just released the first batch of eco-Dapps and services:
1.Website
2.Functionality (for example, dex)
3.Link to your product guide for #ETHW users.
Each #Web3 project interested in creating ETHW was invited to apply for inclusion in this index. Now it has eight categories of decentralized applications (#dApps), including #DEX, bridges, wallets, infrastructure services, #NFT trading platforms, lending protocols, launchboards, and so on.
About 45% of the blocks in the #Ethereum network are verified through bots that comply with US sanctions, said Lakhan Fini, CEO of the #blockchain company Labrys, in an interview with Cointelegraph. According to him, the data of reports stating that only 25% of such blocks are already outdated, and at the moment, probably every second block is subject to censorship.
Feeney explained that an increasing number of #ETH validators are starting to use centralized MEV-boost relay flashbots, which are most often located in the United States and "censor certain transactions in the blocks they create, especially transactions from Tornado Cash."
#MEV bots are centralized software designed to extract maximum recoverable value (MEV). Such programs have become popular among validators because they effectively select those transactions that can bring the greatest income.
On September 28, Labrys released the MEV Watch tool, which shows which bots adhere to the sanctions of the US Office of Foreign Assets Control (#OFAC). According to Fini, in the case of strict censorship, bots "discard" blocks with transactions associated with sub-sanctioned addresses, which makes it impossible to make these transactions into the blockchain, no matter how high a commission is assigned.
These conclusions are confirmed by a study published on September 28, which states that out of more than 19 thousand blocks tested using Mev-Boost Relay bots, none included a Tornado cash #transaction.
#CryptoCurrency
The launch of the #Binance mining pool #EthereumPoW raised the price of #ETHW by 15%
The world's largest crypto exchange Binance has announced the launch of the Ethereum mining pool with proof of work (ETHW). After the announcement, the price of EthereumPoW (ETHW) soared by 15%, reaching a 24-hour high of $12.71.
Binance Pool has introduced zero commission to promote ETHW #mining in the Ethereum Proof-of-Work (ETHW) pool. From September 29 to October 29, all users will be able to mine ETHW tokens without pool commission. ETHW support in Binance Pool does not mean ETHW listing. EthereumPoW (ETHW) will undergo a rigorous verification process, as it happens with other tokens. At the moment, the crypto exchange supports only ETHW withdrawals, deposits are unavailable due to internal policy. However, users can sell ETHW for #BUSD or #USDT using the Binance #Convert service.
#PoW #CryptoCurrency
#Ethereum co-founder: the result of the "Merger" does not correspond to the initial idea!!!
After the successful upgrade of the "Merger", which transferred Ethereum to the Proof-of-Stake (PoS) protocol, it is expected that the #cryptocurrency, which occupies the second place by market capitalization, will grow in price and expand adoption. However, in the first days after this event, there were concerns about the centralization of the network. In particular, Ethereum co-founder Anthony Di Iorio expressed concern about the dominance of several holders in the network, noting that #PoS no longer seems to be an ideal system.
Iorio pointed to the dominance of players such as #crypto exchanges in the Ethereum network. He drew attention to the fact that this state of affairs does not correspond to the original idea of attracting more people to #asset management.
The US Securities and Exchange Commission has classified airdrops (free distribution of tokens) as illegal methods of distributing securities in the charges brought against Hydrogen Technology Corporation, its former CEO Michael Ross Kane and CEO of Moonwalkers Tyler Ostern.
The SEC's lawsuit states that in 2018, the New York company Hydrogen, which has ceased its work at the moment, created the Hydro #token, and then publicly #distributed it with the help of airdrops, rewards to individuals for promoting the token, employee benefits, as well as in the form of direct sales on crypto platforms. The Commission claims that Hydrogen, after distributing the token, hired the South African firm #Moonwalkers to create a false appearance of market activity in relation to the Hydro token using specialized software. As a result of these manipulations, Hydrogen allegedly made a profit of more than $2 million.
#CryptoCurrency #Airdrop #SEC
Circle company announced that after converting #USDC to #BUSD on the #Binance #cryptocurrency exchange, the number of blockchains supporting the USD Coin stablecoin will be increased from 8 to 13.
The issuer of the USD Coin (USDC) and Euro Coin (#EUROC) stablecoins announced that it is working on expanding the US dollar-backed #stablecoin on five major blockchains. In particular, Circle plans to launch USDC on #Arbitrum, #Cosmos, #NEAR, #Optimism and #Polkadot in early 2023.
Circle vice president of product Joao Reginatto said that this step will allow users to have "greater liquidity and interoperability" when performing operations. Currently, the USDC stablecoin is supported by the blockchains #Ethereum, #Solana, #Avalanche, #TRON, #Algorand, #Stellar, #Flow and #Hedera.
Circle has invited developers who support these blockchains to start testing the integration of networks with the #Circle API right now. Recall that earlier this month, the Binance cryptocurrency exchange ordered the list of low-liquid stablecoins, including USDC, converting them into #BinanceUSD (BUSD).
The #Ethereum network presents the #ERC20R and #ERC721R token standards with the ability to return transactions.
The loss of Ethereum tokens and any other cryptocurrencies, regardless of the reason - whether it is theft or a lost seed phrase — is an irrevocable phenomenon. It is very rare for cybersecurity experts to recover a private key, while attackers, for obvious reasons, will not return the stolen crypt.
However, the situation may change thanks to the work of researchers from the Stanford Institute Kylie Wang, Qingchen Wang and Dan Boneh. The day before, they proposed to create new Ethereum-based token standards called ERC20R and ERC721R. These are extended versions of the ERC-20 and ERC-721 standards with the ability to #return transactions.
ERC20R and ERC721R combine the smart contracts of the #token itself and its management. According to Decrypt sources, the managing smart contract is controlled by a "decentralized judicial system" in which a quorum of judges votes to freeze and cancel malicious transactions. For example, a victim whose funds were stolen can submit a request for freezing to the smart contract manager, providing the relevant evidence.
When submitting such a request, the victim must pay a "trial" commission so that judges have an economic incentive to engage in their own activities. It is assumed that for an additional fee, it would also be possible to increase the priority of consideration of cases, similar to an increase in commissions for a place in the queue for confirming a transaction in various cryptocurrencies with a mempool, that is, a queue of unconfirmed transactions. If the majority of the quorum votes in favor of the victim, the funds may be frozen, which will trigger a lawsuit.
During it, both parties — the victim and the hacker — can present their evidence to the decentralized judges, who will vote for the result again. According to the results of the vote, the funds are either returned to the victim, or the request is rejected. In theory, this idea can help with the return of funds after hacker attacks, but it has faced criticism from many crypto enthusiasts.
The problem here is that the reverse of transactions goes against the main principles of the #blockchain. It is impossible to make a refund, since the information in the blockchain, in principle, cannot be changed. Moreover, refunds can be arranged in other ways, representatives of the Argent project noted on #Twitter. Here's a quote.
This is an interesting idea, but it can be implemented in other ways that allow the crypt to remain truly free from restrictions. We can do things like fraud monitoring, distributing multi-signature wallets to everyone, or social recovery.
Another important point is that ERC20R and ERC721R smart contracts are difficult to integrate into the existing system of decentralized finance.
Such tokens can be changed to ordinary ones, which in theory negates their features, If this function is not implemented, then tokens with a return function will be suitable only for transferring value — and this is unlikely to attract the attention of many users. In addition, the inability to interact with the world of #DeFi is also unlikely to benefit the reputation of the novelty.
#CryptoCurrency #ETH #SmartContract
Analysts have pointed out that the value of #networks grows as the number of participants increases in accordance with Metcalf's law.
If #Bitcoin follows the trend of disruptive networks such as mobile phones and the Internet, the application of Metcalf's law suggests a bullish scenario for Bitcoin. In this vein, a modest consideration of the future price of #BTC will lead to the fact that by 2030 it will exceed 1,000,000 dollars.
According to analysts, the introduction of bitcoin digital assets follows the historical models of previous technologies.
#CryptoCurrency
The Proof-of-Stake (#PoS) consensus algorithm can lead to "excessive concentration of decision-making powers in the hands of crypto exchanges and custodial service providers with risks to the integrity of markets. This was stated by the IMF in a study on the regulation of the industry.
Experts offered their ideas regarding changes in the regulatory #framework that could limit the risks associated with digital assets.
The document states "the need for supervisory authorities to follow a technology-neutral approach, taking into account the regulatory consequences of various forms of technology."
The report also calls on the SPS to step up its activities, as this body is "able to take a leading role in coordinating and setting global standards to support national regulation of crypto assets."
Experts concluded that "digital assets have not acquired systemic importance for global financial stability, but their impact in some countries has already become noticeable." The latter manifested itself in an increase in the correlation between cryptocurrencies and traditional financial instruments during periods of market stress.
The IMF suggested that regulators license and authorize "key centralized organizations performing basic functions."
The authorities were also recommended to consider the risks associated with "volatility, market awareness, product knowledge and understanding of cryptocurrency usage scenarios."
Experts stressed the need for international coordination in building standards of supervision over the industry. Priority should be given to "building trust, not holding back innovation," they concluded.
#CryptoCurrency
Over the past day, the price of #bitcoin has increased by more than 8%, returning to above $20,000.
At the time of writing, digital gold is trading around $20,250.
The second largest #cryptocurrency by capitalization #Ethereum has come close to the level of $1,400, near which it was last traded on September 21.
The largest growth over the past day was demonstrated by the #UNI token from #Uniswap — 18.1%. #Solana (#SOL) and #Polkadot (#DOT) rose by 8.9%.
The total market capitalization has reached $1.01 trillion, according to CoinGecko.
According to the observations of on-chain analysts at Glassnode, short-term investors are currently suffering significant losses. Hodlers remain resilient, and many metrics indicate a "detoxification of the market cycle."
#ETH #BTC
Top Gainers:
@BOMBERuss
