Welcome to another week of crypto analysis and pattern behaviour. So, what really happened this week? Let's see:
Monday, the US Federal Reserve Chairman tried once more to discredit Bitcoin, telling us that it can be a substitute for gold, but it is very volatile and ''therefore not useful as a store of value''. Coinsquare exchange was ordered to hand their customer data by Canadian Tax Agency. Talking about dodgy things, can you believe that the digital yuan ( launched by the People's Bank of China) is not anonymous, and can be visible to regulators? Global anti-money laundering watchdog - Financial Action Task Force (FATF) is working on a draft called ''Virtual Asset Service Providers'', believed to be a guideline and regulation for DEFI. How will this work with the anonymous developers and projects, we will see.
Microsoft started to do a survey about using BTC on the Xbox gaming console. Talking about some really good news, Tesla CEO announced BTC payments are now accepted for the electric car payments. Really quick question: are they selling cars for BTC or are they buying BTC paying with cars? Fidelity Investments is the latest to join the companies wanting to launch their own BTC ETF.And New Zealand is suddenly the best country to make retirement plans, with 5% allocation on BTC on Kiwisaver Growth Strategy retirement fund.
Jack Dorsey's first ever tweet NFT sold for $2.9M. Anyone else found this crazy? Happy ending though, the whole amount was donated to the charity Givedirectly Africa Response. Even Crypto.com announced that they will launch a NFT platform soon with partners like Aston Martin, Snoop Dog, Lioner Ritchie and Boy George. On the other side of the pond, Beeple said that he firmly believe that NFTs are a bubble right now, and the prices are insane. Even of ETH-721, the NFT number is all time high.
ETH NEWS, Uniswap version 3 was releasing, and they are promising more control over the price range, and minor improvements on gas fees and liquidity fragmentation. This time they licenced the code, delaying its comercial use for 2 years, maybe trying to stop other copycats to adapt quickly after. SushiSwap, i am looking at you. Also, good news about ETH2.0, Sigma Prime, a blockchain security provider, just did their first merge transaction between ETH1.0 and ETH2.0. with a 99.98% drop in gas fees. I cannot wait for this to be up and running. Sorry miners, but you must say bye bye to ETH and find some other blockchains to milk out.
At the beginning of the week the biggest gainers were Storj, Theta and CRV, even as Theta delayed their mainnet launch to 30th of June. Next day we had NPXS, DENT and ANT, STEEM having a surprising 50% increase, and Bitcoin Cash ABC going 80% up also.
EOS seems to be in trouble after CTO Dan Latimer left them, with Effect Network, one on the promising DEFI projects on EOS, moving to Binance Smart Chain. Talking about BSC, Turtle DEX project raised 9000 BNB in a pre-sale round, and converted all their funds into ETH, sending them to Binance wallets (and we talk about a project that was audited, with no major security issues discovered). Something fishy in the Turtle Bay! BAT is also joining Binance Smart Chain, with pools on PancakeSwap and Beefy.finance.
Chiliz, via Socios.com, launched $CITY tokens, after partnering with Manchester City. That's not all, Man City is also working with Animoca to launch their first blockchain games and NFT collections. Ronaldo also got his first cryptocurrency airdrop - 770 Juventus fan tokens, one for every goal he scored ($11550 total value).
Yours truly
George
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