Cryptoverse’s biggest news on Oct. 31 includes Vitalik saying cryptocurrencies need to mature before mainstream adoption, crypto adoption surges as home currency fails Hoskinson, who predicts it will, veteran investor Argo Blockchain, who predicts the DOGE bear market is over. It was on the verge of shutting down operations after failing to secure $27 million in funding.
CryptoSlate Top Stories
Vitalik Buterin believes cryptocurrencies ‘need time to mature’ before mainstream adoption
Vitalik Buterin responded to Sam Bankman-Fried’s proposal on DeFi regulation, arguing that regulators should leave cryptocurrencies free to roam, but measures to limit the speed of mainstream adoption argued that should be taken.
To improve DeFi regulation, Vitalik recommends that limits should be placed on leverage while demanding full transparency in the audit process.
Hoskinson Predicts More Crypto Adoption As Sovereign Currencies Fail
As several countries battle steep inflation, Cardano founder Charles Hoskinson predicts that the failure of his country’s currency could lead to increased adoption of cryptocurrencies.
Many countries in South America have reported their currencies depreciated to double-digit inflation. adoption of cryptography It has surged by more than 40% in the last 12 months.
Peter Brandt Thinks DOGE Bear Market Is Over, But Bulls Haven’t Ruled Yet
Dogecoin (DOGE) surged about 97% to reach a high of $0.1388 over the past 7 days. As bullish sentiment continues to lead his Memecoin, veteran futures and FX trader Peter Brandt says DOGE has broken the bear market channel but the bull market cycle has yet to begin. rice field.
Nevertheless, crypto trader Rekt Capital believes DOGE’s bull market could spread the trend to other altcoins.
Aptos-based DeFi protocol Arco offers refund option after IDO issues
The Arco protocol IDO sale on October 29th failed due to network congestion and delays in the $ARC token claim process.
As a result, many of the protocol’s partners, including Wormhole, Celer Network, and Huobi, have moved to cancel partnership deals.
To remedy this situation, Aptos has twitter poll, Ask IDO participants to return their donations or continue building with the funds. So far, more than 40% of her voters have opted to get reimbursed.
Binance confirms a massive purchase of 120,000 Bitcoins between October 28th and October 30th.
On-chain data analyzed by CryptoSlate reveals that approximately $2.5 billion worth of 120,000 Bitcoins (BTC) moved off the Binance exchange between October 28th and October 30th.
The withdrawal is the highest amount of Bitcoin purchased on Binance since January 2022. Recent buying trends on the exchange show that investors may prefer his Binance over Coinbase to buy bitcoin for long-term holding.
World Cup Build-Up, Testnet Launch Catapult Chiliz Rises 15% to Lead Top 100
Chiliz Token (CHZ) has surged over 15% in the last 24 hours following its success. Scoville testnet Upgrades and anticipation for the World Cup starting November 20th.
As for the World Cup, national soccer teams including Argentina and Portugal have reportedly partnered with Chiliz to issue Fan Tokens. As a result, more sports fans are flocking to the ecosystem, pushing utility and price.
CRO Surpasses Bitcoin One Year After Crypto.com’s Matt Damon Commercial
Reddit user u/gnarley_quinn said Fortune favors the brave In an ad that aired a year ago, Crypto.com’s CRO token is down about 47%, trading at $0.11.
Despite CRO volatility, it was about 13% higher than Bitcoin, which lost about 60% of its value over the same period.
A failed strategic investment left Bitcoin miner Argo cashless and in trouble.
Argo Blockchain, a leading Bitcoin mining company, said it was on the verge of shutting down after failing to secure a $27 million investment.
Argo previously raised about $5.6 million from the sale of mining equipment to fund its operations. However, it has said it may suspend its services if it fails to raise further funding.
Hong Kong Releases Policy Statement on Cryptocurrencies
Hong Kong city in China Crypto Policy Statement We are trying to legalize crypto assets in this region.
The government issued licenses to virtual asset providers and set up a regulatory body to regulate their activities, according to a statement.
The government will integrate stablecoins and NFTs into the system, adding that it will provide an environment for crypto innovation to thrive.
SBF believes Hong Kong could become Asia’s Web3 hub
Sam Bankman-Fried (SBF) said in a speech at Fintech Week in Hong Kong that Hong Kong could become Asia’s Web3 hub ahead of South Korea’s Singapore and Busan.
Many crypto leaders, including TRON founder Justin Sun, Crypto.com CEO Kris Marszalek, and New World CEO Zheng Zhigang, endorse SBF’s view and support Hong Kong’s Web3 vision. promised to support
Over 97% of tokens issued on Uniswap are fraudulent – study
A study titled “Do Not Rug On Me” claims that over 97% (around 26,957) of tokens issued on Uniswap are fraudulent.
He argued that Uniswap’s simplicity and lack of regulation made it easy for fraudsters to perform tricks on decentralized exchanges.
OpenSea Ethereum Trading Volume Drops 13%
A report analyzed by CryptoSlate suggests that Ethereum NFTs on OpenSea are rapidly losing market dominance. For almost four months in a row, Ethereum trading volume and active traders fell by 13% ($303 million) and 5% ($332,824) respectively.
Conversely, OpenSea’s Polygon NFT surged about 69.25% to reach $10.6 million following the growing interest of nearly 3 million users in Reddit NFT avatars.
Inter-Generational Buying Opportunities Undiminished As Bitcoin Holds 60-Day Moving Average
According to some technical analysts, whenever Bitcoin crosses 60, 120, 200, 360 and 720 days, it signifies an intergenerational buying opportunity.
Over the past 7 days, Bitcoin has risen to $21,000 and surpassed its 60-day moving average (MA). It suggests a buying opportunity, but needs to break above the 120-day moving average to sustain the bias.
News around Cryptoverse
Happy 14th Birthday Bitcoin White Paper
On this day 14 years ago, Bitcoin hero Satoshi Nakamoto Bitcoin whitepaper.
India RBI set to test CBDC project
The Reserve Bank of India (RBI) has announced that it will begin testing the CBDC ‘digital rupee’ on 1 November. Reuters report.
The pilot launch will be in partnership with nine commercial banks, including the State Bank of India.
DOJ launches new investigation into Tether fraud accusations
The US Department of Justice (DOJ) has transferred the Tether fraud case to a new division for a thorough investigation. DBN.
Tether was accused of moving cash through banks without declaring the true motives for such actions.
E.Smitty predicts that 10 XRP will be worth $10 million in the future.
XRP Investor E.Smitty Predict That XRP will be the first multi-million dollar token in the near future, with 1 XRP being exchanged for $1 million.
Over the past 24 hours, Bitcoin (BTC) has fallen 1.36% to trade at $20,417, while Ethereum (ETH) has also fallen 1.86% to trade at $1,566.