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NFT land sells for 550 ETH, eToro to delist ADA and 1M ETH burned since August: Hodler’s Digest, Nov. 21-27

NFT land sells for 550 ETH, eToro to delist ADA and 1M ETH burned since August: Hodler’s Digest, Nov. 21-27

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Market Analysts Explain Why This Correction Is Good For Bitcoin

The recent bitcoin correction down from its all-time high has had the market in a panic in the past week. However, not everyone has seen it as a bad omen. The digital asset’s price had gone down below $ 60,000 causing investors to believe the bear market had arrived. Mostly, small-time investors had been hit the most by panic as sell-offs happened through the space.

Nevertheless, the correction was bound to happen following the incredible run that bitcoin had. Market corrections are always normal and expected after a bull rally but market analysts have pointed out that this particular correction could have some positive implications for the digital asset going forward.

Related Reading | Bitcoin Whale Wallet Containing 1,299 BTC Activates After Eight Years

Be Grateful For The Slump

Analysts at BOOX Research recently released their analysis of the market and shared thoughts surrounding current market conditions. The analysts explained that the correction was good for the digital asset. This type of slump is important for a “healthy” market and bulls should be grateful for it, the analysts said.

The recent sell-off has not been bad for the market and although bears believe that bitcoin had already seen its top, this is not true. BOOX Research analysts further explained that the market is nowhere near the “crypto winter” despite its 20% downward retracement. Further stating that the fact that the digital asset had held above $ 50,000, which is an important psychological level for bitcoin, shows that it is still going strong.

BTC dip continues | Source: BTCUSD on TradingView.com

The analysts pointed out that a major pullback would have been witnessed if the price had broken below $ 50,000, leading to a $ 30,000 retest. However, it would take something impactful, like an “unforeseen major regulatory setback” for the asset to break below this level.

Bitcoin Headed For $ 100,000

Analysts at BOOX Research have echoed a widely held prediction in the crypto space. That is, bitcoin at $ 100,000. The analysts put the digital asset at this price point in 2022 but not without a bit of a hurdle. In their report, they state that the digital asset would have to first break above $ 60,000, which would set it up for an all-time high retest. Additionally, the asset is expected to accelerate towards $ 75,000 until it touches $ 100,000 next year.

“Bitcoin has made several key pivots around $ 50,000 going back to February of this year. We expect the bulls to put up a strong fight and hold that line if it gets down there, which could be a good spot to add to positions.”

Related Reading | JPMorgan Lists Ethereum As A Better Investment Than Bitcoin

For the pioneer digital asset, the pullback has done for good for it. Prices have stabilized somewhat – as stable as they can be for the highly volatile crypto market – setting the asset up for another bounce above $ 60,000. Bitcoin had recovered back up to $ 59,000 on Thursday and indicators point to a continuation of the bull rally.

Featured image from Republic World, chart from TradingView.com
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Bitcoin overtakes Paypal on value transferred, sets sights on Mastercard: Report

Bitcoin overtakes Paypal on value transferred, sets sights on Mastercard: Report

Blockdata’s report suggests that the Bitcoin network could potentially match the dollar value transferred on Mastercard’s network as early as 2026, or as late as 2060.

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Price analysis 11/24: BTC, ETH, BNB, SOL, ADA, XRP, DOT, DOGE, AVAX, CRO

Price analysis 11/24: BTC, ETH, BNB, SOL, ADA, XRP, DOT, DOGE, AVAX, CRO

Bitcoin and most major altcoins are struggling to find bullish momentum, a possible signal that prices could continue to erode.

Cointelegraph.com News

Cardano Increases Block Size By 12.5%, What This Means

Cardano has been making important changes to its blockchain since the launch of smart contracts capability. This had brought with it an increased usage and thus needed to be more scalable to accommodate this increase. Since the launch in September, there have been a number of improvements to the network and the latest is the increase in the block size.

Increased Block Size In Cardano

Cardano, in a recent blog post, announced that they were increasing block size by 12.5% to make room for the increased traffic that is expected on the network. The 8KB increase will see the total block size now at 72KB and will allow more transactions to be fitted in a single block. This will allow more transactions to be processed per second, greater data throughput, in turn providing greater capacity for its users.

Related Reading | Cardano Founder Says Metaverse Is Important For Crypto

Keep in mind that a year ago, Cardano only averaged 10,000 transactions per day. Now, a year later, this number has risen significantly to more than 200,000 and climbing. A 12.5% increase in block size may not seem large by the average margin but is important to accommodate for this increased usage.

ADA drops to $ 1.77 | Source: ADAUSD on TradingView.com

Another factor that warrants the increase in block size is the anticipation of DApps that are expected to launch on the blockchain soon. Since Cardano already has smart contracts capability, it is only a matter of time until developers begin deploying their apps. This anticipated rise in traffic has made increasing block size important for the network.

Plutus Script Memory Gets A Boost

Block size was not the only thing that got a boost. Cardano also increased Plutus script memory units by transaction. In another 12.5% expansion, the Plutus script memory units per transaction is now 11.25 million.

In the blog post, John Woods, Director of Cardano Architecture, explained that this change was brought about due to growing demand from developers. It will help developers in their journey as they test and deploy their DApps on Cardano.

“An increase in Plutus memory limits means that they can develop more sophisticated Plutus scripts, or that existing scripts will be able to process more data items, increase concurrency, or otherwise expand their capabilities.”

Woods notes that this is only a first in a series of changes that will take place to expand the real-world capabilities of Plutus scripts.

Related Reading | Cardano Founder Reiterates Long-Term Purpose Amid Sell-Off Panic

The changes in block size and Plutus script memory units by transactions will be implemented slowly. Cardano has adopted a ‘slow and steady’ mechanism going forward with the changes. Although this may look to be moving too slow for some, a 12.5% increase shows that the developer is not rushing to make changes that would adversely affect the network.

“It’s not just about creating more complex scripts. It’s also about putting more data through,” the blog post read.

Featured image from The Cryptonomist, chart from TradingView.com
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WEF releases resource suite for CBDCs and stablecoins aimed at regulators and businesses leaders

WEF releases resource suite for CBDCs and stablecoins aimed at regulators and businesses leaders

The publication contains eight separate white papers exploring topics including the impact of lawmakers regulating stablecoins and central bank digital currencies as well as informing readers about the risks, benefits and alternatives.

Cointelegraph.com News

Talecraft, a PvP Play-to-Earn Cardboard Game, Soon Launches on Roco’s RocoStarter IGO Platform

Crypto is changing. Where once ICO investment offerings were ideal, play-to-earn has become an increasingly popular way for users to gain exposure to crypto and appeals to many. Playing in a metaverse and earning rewards for the time committed reflects the model of the gaming industry and eager opportunities await. Rocostarter’s new metaverse cardboard game Talecraft seeks to fill the space vacant for metaverse-minded crypto investors. Roco has had success already in the play-to-earn market after partnering with Rise Online to launch on their platform.

Talecraft, a PvP play-to-earn cardboard game, launches on the Avalanche network soon through Roco’s RocoStarter IGO platform. RocoStarter acts as a launching point allowing partner companies to interact with potential players and offer the option to invest. Not only can companies reach potential player bases, but technical support is provided. RocoStarter also contributes to the token economy of projects by staking efficiencies provided after incubation and culture phases, ensuring safe trading opportunities for investors.

Hosted on the Avalanche network, RocoStarter is a community-backed startup platform based on decentralization. Aimed towards ensuring fair functionality for participants looking for early investment options, RocoStarter also seeks to provide priority participation to Venture Capital and similar groups. The end result should be a platform capable of ensuring equal opportunity access to the early-stage phases of crypto projects that are all too often difficult to access.

Not only does RocoStarter aim to accomplish the previously stated, but the platform also works to provide Initial Dex Offerings through the holding of $ ROCO tokens. Marketing, development, advertising, and further struggles like lack of consultancy can be relieved through a partnership with RocoStarter and the assistance of their in-house team of experts. DAO services are available to potential partnerships as well, enabling one to create a pool for staking on the platform.

In order to join an IGO on RocoStarter, one must complete the KYC process and then use Roco tokens to stake into starter pools. After that, users can stake the specified minimum amount of Roco tokens required, go to the IGO’s page, and vote for participating upcoming IGOs. If users are eligible to participate, they can then join the IGO once live by clicking the “Join IGO” button and swap their $ AVAX to buy the new project’s token. Once swapped, the new token will be sent to their wallet automatically.

Talecraft uses a unique mint and craft mechanic, allowing players to increase in power through NFT alchemy. Elemental base cards are sold weekly, allowing ardent players to participate in a medieval metaverse. NFT holders receive $ AVAX yield generated by the game’s ecosystem. For guaranteed participation with Talecraft, users will need to stake 400 $ ROCO tokens and vote to join the Talecraft IGO in order to purchase $ CRAFT tokens to use. Staking for Talecraft begins on the 19th of November. The project releases with a supply of thirty million CRAFT with 3.75 million available to the public at .28 USD per token, or one million and fifty thousand dollars.

The current crypto market is not the easiest thing to grasp. But with Roco’s Talecraft one can use their time put in the medieval metaverse created to increase their holdings, on a platform striving for transparency and equal opportunity for players. Join Talecraft and be rewarded for your efforts as well as acquire new exciting cards through alchemy. Play-to-earn is an appealing avenue for many crypto investors, and Talecraft releasing soon on the horizon is sure to be one worth keeping an eye on.

 

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VanEck’s Bitcoin spot ETF shunt solidifies SEC’s outlook on crypto

VanEck’s Bitcoin spot ETF shunt solidifies SEC’s outlook on crypto

The SEC rejecting VanEck’s spot ETF started a price reversal for Bitcoin as the regulator’s outlook on cryptocurrencies is revealed further.

Cointelegraph.com News

Manchester City officials sign and suspend partnership with mysterious crypto firm within a week

Manchester City officials sign and suspend partnership with mysterious crypto firm within a week

It is unusual for an organization such as a Premier League football club to publicly announce a partnership with a relatively unknown company in the crypto space and then quickly back out without explanation.

Cointelegraph.com News

Futurist film maker Ian Khan on tomorrow’s AI and blockchain

Futurist film maker Ian Khan on tomorrow’s AI and blockchain

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