Decentral Block Post

The decentralized autonomous organization (DAO)-operated golf startup, LinksDAO, may soon put in an offer to purchase the newly marketed Spey Bay Golf Club in Scotland worth about $900,000. 

LinksDAO — self-described as a “global group of golf enthusiasts” that is on a mission to build the “world’s greatest golf community” — officially opened the proposal vote on Feb. 20, which came after a few weeks of informal deliberation.

It would be the DAO’s first ever golf course purchase.

While voting officially closes on Feb. 22 at 12pm Eastern Time, over 88% of the 4,100 LinksDAO token holders have already voted in favor of the proposal.

If the final tally remains in favor of the purchase, the LinksDAO acquisition committee will meet with the relevant parties required to construct a “compelling offer” for the purchase of the club “with the full intent of successfully purchasing the golf course,” the proposal stated.

Solana Spaces will close down its two Solana (SOL)-themed, community-oriented retail stores in New York City and Miami at the end of the month, as the physical stores didn't onboard as many users as it initially anticipated.

Solana Spaces tweeted the news on Feb. 21 sharing a note from its founder, Vibhu Norby, explaining the reasons behind the store shutdowns.

Norby — who founded Solana Spaces in early 2022 — explained the company reached an “inflection point” with the stores, prompting them to shift its investment focus to “DRiP,” the firm’s new nonfungible token (NFT) artwork airdrop platform.

“While our stores onboard between 500 and 1,000 people per week, DRiP onboards that same quantity EVERY DAY,” Norby said, explaining the decision to shift its investment focus.

The decision to close the shops — located in Hudson Yards, New York and Wynwood, Miami — was made “a few weeks ago” and will “sunset” at the end of February, said Norby.

The price of Ether (ETH) rallied 18% between Feb. 13 and Feb. 16 but has since been range trading near the $1,700 level. Despite the recent price improvement, Ether derivatives metrics remain neutral-to-bullish ponder the investors the tighter regulatory environment and the potential impact of Ethereum’s Shanghai upgrade.

Investors' biggest concern right now is regulation, especially after the United Kingdom’s Financial Stability Board (FSB) recently stated that most stablecoins fail to meet international standards. The entity was created by the G20 and is affiliated with the Bank of International Settlements (BIS). FSB chair Klaas Knot stated that the appropriate regulation of crypto-assets should be "based on the principle of same activity, same risk, same regulation."

In more positive news, there has been some improvement in China after the government is reportedly taking a softer approach to Hong Kong’s crypto hub aspirations. According to a Feb. 20 Bloomberg report, representatives from China have been frequenting Hong Kong crypto gatherings seeking to understand local crypto business operations.

A recent Binance report detailed the status of Ether staking and explored why the Shanghai upgrade may not result in the ETH sell pressure that some traders have predicted. Their rationale is based on liquid staking derivatives, which allow users to benefit from staked Ether while retaining the ability to sell the derivative token.

Let's look at Ether derivatives data to understand if the $1,700 price rejection has impacted crypto investors' sentiment.

The price of Ether (ETH) rallied 18% between Feb. 13 and Feb. 16 but has since been range trading near the $1,700 level. Despite the recent price improvement, Ether derivatives metrics remain neutral-to-bullish as investors ponder the tighter regulatory environment and the potential impact of Ethereum’s Shanghai upgrade.

Investors’ biggest concern right now is regulation, especially after the United Kingdom’s Financial Stability Board recently stated that most stablecoins fail to meet international standards. The FSB was created by the G20 and is affiliated with the Bank of International Settlements. FSB chair Klaas Knot stated that the appropriate regulation of crypto-assets should be “based on the principle of same activity, same risk, same regulation.”

In more positive news, there has been some improvement in China after the government is reportedly taking a softer approach to Hong Kong’s crypto hub aspirations. According to a Feb. 20 Bloomberg report, representatives from China have been frequenting Hong Kong crypto gatherings seeking to understand local crypto business operations.

A recent Binance report detailed the status of Ether staking and explored why the Shanghai upgrade may not result in the ETH sell pressure that some traders have predicted. Their rationale is based on liquid staking derivatives, which allow users to benefit from staked Ether while retaining the ability to sell the derivative token.

Let's look at Ether derivatives data to understand if the $1,700 price rejection has impacted crypto investors’ sentiment.

Starting to invest in cryptocurrency does not necessarily require connecting with a bank account or spending fiat to purchase Bitcoin (BTC) and Ether (ETH). Another way to earn cryptocurrency and build a portfolio is to complete a variety of tasks on various Web3 platforms.

Using decentralized applications and decentralized finance (DeFi) platforms, users can earn cryptocurrency and then swap, sell or hold it in centralized or decentralized wallets without even having to spend money.

Let’s look at a few ways to build a crypto portfolio without connecting a bank account.

Interact with Web3 browsers

A person without cryptocurrency knowledge might be intimidated by the process of downloading wallets and performing on-chain transactions. An alternative is simply interacting with technology, and currently, there are multiple ways to experiment with different crypto platforms. One is replacing Web2 technology with a Web3 counterpart browser.

Google dominates the web browser and search engine space, making money off users by selling data to advertisers. The Brave browser is an alternative platform where users earn Basic Attention Token (BAT) and fully own their data while searching. Users earn from their activity on advertisers’ websites, and Brave does not sponsor search engine posts, which provides users with a more decentralized search experience.

Ether (ETH) fell short of a bullish breakout based on technical and on-chain analysis, suggesting that the consolidation below the $2,000 price level could continue in the medium term. At the same time, a lack of sellers and strong fundamentals will likely protect Ether from steep declines.

Ether encounters resistance at long-term bullish reversal points

ETH/USD has increased by 42.80% since the start of 2023 thanks to a short squeeze in the altcoin market, negative investor sentiment and low liquidity conditions. Based on on-chain and technical levels, the rally has paused at a crucial bull-bear pivot.

Glassnode’s Relative Unrealized Loss metric measures the loss scale on Ether holders’ books. The orange line represents the bull-bear pivot line, where consolidation above this level signifies bear trends and vice versa. Usually, the market begins bullish trends after a breakout from previous all-time highs or consolidation over long periods, signified by a steep decline in the Unrealized Loss metric.

Similarly, from a technical perspective, Ether bulls failed to overcome the resistance at 0.082 Bitcoin (BTC), bringing the price back to the parallel trading range between 0.053 BTC and 0.082 BTC.

Will this time be different?

Based on historic levels, Ether missed the previous bottom levels by a huge margin; the minimum percentage of supply in profit extended to 42.1% compared to the 20%–30% tapped during previous bear markets. It suggests the likelihood of more pain ahead for ETH holders. However, on-chain trends show robust activity and buying, reducing the downside risk significantly.