https://t.me/CryptoMarketUpdates

2022-09-06 05:27:02 Bitcoin projected to become first monetary system to hit net zero emissions by 2024

Bitcoin (BTC) continues to receive criticism regarding its carbon footprint impact as the asset records significant adoption in different jurisdictions. However, the situation might be changing, especially with mining operators increasingly opting for renewable sources of energy in a bid to reduce carbon emissions. In particular, Bitcoin is reportedly set to achieve a net zero emission by December 2024.

According to the study, the Bitcoin network currently has 62.4% zero emissions by factoring in carbon-negative mining. By March 2023, the activity is expected to have 72.7% zero emissions based on newly announced carbon-negative projects. Under the methodology, the researchers calculated the amount of Bitcoin energy emanating from positive carbon sources and then derived the positive carbon quantity.

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2022-09-05 05:20:02 Ether and ADA in the green ahead of respective upgrades

Bitcoin has lagged so far in September, down 1.49% at $19,704 over the past week, having surrendered gains made on Friday following jobs data in the U.S. Elsewhere, ether gained more than 4% and was trading at $1,551, while Cardano’s native token ADA soared 10.69%.

The Merge is set to happen in September, completing Ethereum’s move from proof of work to proof of stake after years of planning. During the build-up, traders were busy betting on the upgrade. Elsewhere, Ethereum co-founder Charles Hoskinson’s Cardano has a firm date for its own upgrade, dubbed vasil. The blockchain’s token, cardano, rose more than 10% to $0.498.In August, ether derivatives soared while bitcoin declined, and LedgerPrime noted in its market report this week that bearish bitcoin options strategies have been predominant.

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2022-09-04 06:56:02 Ethereum (ETH) TVL Loses More Than $2.9B as Merge Approaches

Ethereum saw a further decline in total value locked a few days to the highly anticipated “Merge” due to a continuous drop in the amount of liquidity poured into decentralized finance (DeFi). Ethereum has been the go-to blockchain for thousands of developers and millions of dApp users.

An overall bearish market that followed the new milestones reached in 2021 earlier in the year has extended into the third quarter of the year. Unfortunately, Ethereum as the leader of the DeFi sector has not been spared as the chain shed 7% of its opening day value locked. After reaching new highs in 2021, Ethereum made several attempts to shackle off the bears in January when it reached a yearly peak of $100.99 billion.

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2022-09-03 06:26:02 Revolut slashes crypto trading fees by 20% starting October 2022

Revolut has acquired regulatory authorization to provide cryptocurrency services to its 17 million customers in Europe and announced the bank has ambitions to expand its crypto workforce on the continent. On September 1, Revolut announced to its customer through email that as of October 3, 2022, it will change its fees for “buying and selling crypto from 2.50% to 1.99% or EUR 0.99, whichever is higher.”

The drop in crypto trading prices represents a decrease of 20.4%; whether this is due to the volatility in the crypto market remains to be seen as, despite the vast correction that occurred in 2022, the bank has reported a customer interest in acquiring knowledge about cryptocurrencies. Indeed, Revolut announced in August that its crypto learning platform has attracted about 1.5 million users a month after launching. The ‘Learn & Earn’ learners have utilized the platform.

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2022-09-02 07:09:02 Ethereum (ETH) Miner Balance Hits Four-Year High Ahead of Merge

Ethereum (ETH) has been increasing at a much faster rate than Bitcoin (BTC) and is up by more than 50% since the June lows. ETH had been decreasing underneath a descending resistance line since Dec 2021. The downward movement led to a low of ₿0.049 in June.

However, the price has increased sharply since and managed to break out from the line in the end of July, proceeding to reach a high of ₿0.081 in Aug. Despite this sharp increase, the daily RSI is showing signs of weakness, since it has broken down from an ascending support line. So, it is possible that it will return to the 0.382 Fib retracement support level at ₿0.069, validating the resistance line as support, before resuming its upward movement.

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2022-09-01 06:53:02 Study discovers 40% of web3 gaming accounts are bots using on-chain data

Levan Kvirkvelia, the founder of Jigger, an anti-bot protection software, has released a report asserting that 40% of the player base of web3 games are bots. The study found evidence of 20,000 bots across over 60 web3 games. Louis Regis, founder and CEO of Xborg, exclusively confirmed to CrytoSlate that “many games artificially boost their player bases with bots and multiple accounts in order to increase their valuations.”

Bots are a problem across most games that contain a method for accounts to acquire value. Outside of web3, people have bought and sold game accounts containing rare items, skins, or high competitive ratings. Investigating the source of the bots in web2 can be highly challenging as data is diverted through VPNs to mask the identity of the bad actors. A screenshot from Kvirkvelia’s company Jigger presents a visualization of the interconnected accounts, shown below.

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2022-08-31 06:20:02 LUNA Classic pumps 70% on ambitions to wipe the past, revive the chain

LUNA Classic (LUNC) is up 70% from its August 20 low following the implementation of plans to revive the ailing network. The purpose of the original Terra Luna token was to absorb price deviations of the UST stablecoin. But following UST’s depeg in May, Terra Luna has lost over 99.9% of its value.

Following troubles with the Terra chain, founder Do Kwon’s proposal to fork the chain, and create Terra LUNA, was accepted by the community. The first LUNA genesis block came into existence on May 28. Meanwhile, the existing Terra chain rebranded to LUNA Classic (LUNC) and operates with the original code of the Terra ecosystem. But more crucially, it was handed over to the community for its development and governance. Despite Do Kwon apparently stepping away, LUNA Classic still carries the burden of what happened in the past.

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2022-08-30 05:58:02 China set to explore blockchain technology to facilitate electricity trading

The China Energy Administration (CEA) is set to investigate the use of blockchain-based power trading platforms to promote energy trade between self-contained power generation units and state and national networks. Notably, the CEA, a state organization under the National Development and Reform Commission (NDRC), responsible for drafting energy policy.

According to the Institute of Electrical and Electronics Engineers (IEEE), the immutable property of blockchain technology may enable transparent and trustworthy power metering as well as evidence of transactions. The province of Yunnan has an abundance of hydropower resources and several small hydropower facilities all around the province. Before China’s crypto ban, Bitcoin miners gravitated into the province due to its abundant energy supply and favorable pricing structure.

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2022-08-29 07:06:02 Mt.Gox Creditor Denies Fake Report About Imminent Release Of 140,000 BTC

Eric Wall, one of the creditors of the infamous crypto exchange Mt. Gox denied the report about an imminent distribution of 140,000 BTC. He said that the payout system has not been created yet, not even a choice of exchange on which affected investors will be able to receive their payouts is ready. As it stands, there are no final dates yet.

According to rumors spread the day before, Mt. Gox was supposed to start Bitcoin compensations today, Aug. 28. Many were alarmed by the situation, viewing the rumor as a "black swan" for the cryptocurrency market. The panic created additional pressure on Bitcoin and the rest of the market, which already sagged significantly after the Fed's hawkish rhetoric at the Jackson Hole symposium. The price of BTC at the time fell below $20,000.

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2022-08-28 06:50:03 Most Acala Services Still Offline Twelve Days After Attack

Acala is still attempting to restore operations more than a week after suffering an exploit that collapsed its stablecoin. The project said today that “many of the services have been paused… including XCM transfer out.” This means that cross-chain transfers between Acala and other Polkadot parachains are not currently available.

Various other services are also non-functional. Users cannot transfer most tokens, use bridge services, mint the aUSD stablecoin, perform token swaps, use instant unstaking, or engage with the protocol’s various earn features. Only three services are operating normally. The first active service concerns basic on-chain transactions that involve the project’s native ACA token. The other two operational services concern staking: both liquid DOT staking and normal unbound period unstaking are operating as normal.

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