where do I start? Cryptocurrency is in free fall. Bored Ape’s market floor is now below $100,000, Bitcoin and Ethereum have breached 2020 lows, and we are now in “crypto winter.” So the question is, can he recover?
After screaming internally, in short, my answer is yes.
Now, I am not here to “be an expert,” but as a long-term investor and tech supporter, there is a need and benefit to using blockchain for a number of reasons. The good news is that we don’t even have to engage in this conversation to justify a bounce in this harsh market climate. Global companies are investing in NFTs, the scalability of the metaverse, and the support of cryptocurrency through payments. On the contrary, the market is not even close to breaking the tip of the iceberg.
It is just a matter of time.
I think it’s important to note that many other markets, including Wall Street and the stock market, will continue to fall, some of which may last for years. Public goods, gas and the cost of living are also increasing. Inflation is reaching unreasonable levels worldwide. This is the perfect time to be frugal and focus on maintaining good habits!
Dear Elon Musk, we hope so by Christmas. Thanks.
Now for some market updates.
Binance Doubles Its Commitment To The Cryptocurrency Industry
With global cryptocurrency exchanges hurting workers ahead of the “crypto winter” and market numbers may be futile, industry leader Binance has doubled down on its commitment to the crypto sector. Binance CEO Changpeng Zhao announced the company’s promise to expand its global strengths through 2022.
Binance is recruiting more than 2,000 jobs globally. Click here to view job opportunities at Binance.
An anonymous major developer of Shiba Inu teases a highly anticipated second-tier series, Shibarium
Shytoshi Kusama, the anonymous lead developer of Shiba Inu, has shared a new update on WELLY’s Discord. Shy confirmed that a Layer-2 solution, known as Shibarium, is coming soon, adding that it is “already under discussion to advance efforts.”
Shibarium is one of the most envisioned Layer-2 Ethereum blockchain solutions that we hope will provide slower transactions, secure and creative space within crypto and the Web 3. The release of this project should add tremendous value to the Shiba Inu ecosystem as a whole.
As of now, there is no official timeline for the release of Shibarium.
Scientists introduce a fully decentralized stablecoin linked to electricity
Scientists and researchers at Lawrence Livermore National Laboratory in California have introduced a new, fully decentralized stable attached to a physical asset; Electricity.
But what exactly does that mean?
This “fully secured stablecoin” is tied to a physical asset and its value depends on the use of electricity as a utility. According to the scientists, power can be transmitted without the need for physical cables or a grid-based transmission system. Initially introduced as an electronic stablecoin or electric stablecoin, this stablecoin will be the first of its kind.
“Any anonymous party can mint E-Stablecoin with input of approximately one kilowatt-hour of electricity. They can then treat the digital token like any other cryptocurrency or even convert it into usable electricity without the need for power companies, power transmission lines or permissions. Or authorities.Maxwell Moriado, one of the scientists involved in the project, explained that it is an unreliable top-down system.
This news is likely to mean the end of transaction fees generated by global exchanges and could create new excitement within the industry.
Coinbase licenses the highest employee rates of any crypto-asset exchange
Coinbase is laying off nearly 1/5 of its active workforce, recently laying off workers through massive global cryptocurrency exchanges. As a result, CEOs and CEOs are preparing for a sharp decline in market value, production, and the inevitable “crypto winter.” Crypto.com 5%, Robinhood 9%, Gemini 10%, BitMex 25% and many more job cuts are expected in the market.
For Coinbase, the latest takedown announcements have fallen frighteningly after their new ad was released during Monday’s NBA Finals.
WELLY NFT Community Hit Ship . Collection Editions
The WELLY NFT set was introduced this week and has proven to be a huge success thanks to the tireless efforts of the Shiba Inu ($SHIB) community. While thousands of NFTs were collected over the weekend through minting or initial purchase on OpenSea, the remaining unsealed supplies were burned by WELLY NFT developers, adding value to the assets held for those who participated.
Each NFT owner owns a minority stake in all current and future WELLY franchises.
disclosure: At the time of writing this article, the author owns several crypto-assets and NFTs. The information in this article is not financial advice.