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NFTs banned in Minecraft, SEC lists 9 tokens as securities and 3AC founder blames cockiness for company meltdown: Hodler’s Digest, July 17-23
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week
3AC founders reveal ties to Terra founder, blame overconfidence for collapse
After five weeks of being AWOL, the founders of defunct crypto hedge fund Three Arrows Capital (3AC), Su Zhu and Kyle Davies, resurfaced via an interview with Bloomberg. The duo admitted to operating the firm with overconfidence as a result of the multi-year bull market. They also noted that they were very close with Terra founder Do Kwon and, despite running a major hedge fund, were shocked that the project’s extremely risky algorithmic stablecoin went bust. Zhu and Davies said they overlooked several red flags as a result of the kinship.
Mojang Studios bans Minecraft NFT integrations
Minecraft developers Mojang Studios banned nonfungible token (NFT) integrations in their wildly popular flagship game this week. The firm cited issues with NFTs being associated with price speculation, exclusion and rug pulls. “To ensure that Minecraft players have a safe and inclusive experience, blockchain technologies are not permitted to be integrated inside our client and server applications,” the firm announced. Crypto-skeptic gamers also called on Fornite developer Epic Games to follow suit, but the company said it “definitely won’t” institute a similar ban.
Ethereum price 'cup and handle' pattern hints at potential breakout versus Bitcoin
Ether has printed a classic bullish reversal pattern against Bitcoin weeks before the Merge launch date.
Ethereum price 'cup and handle' pattern hints at potential breakout versus Bitcoin
Ether has printed a classic bullish reversal pattern against Bitcoin weeks before the Merge launch date.
Not just Bitcoin price: Factors affecting BTC miner profitability
As many crypto holders are gearing up for a bear market, what are the factors influencing the mining business?
Proof-of-time vs proof-of-stake: How the two algorithms compare
Blockchains use consensus algorithms to choose who gets to verify transactions on the network — what are the differences between the two?
Fans seek trust and better understanding of sports NFT market: Research
The prolonged crypto winter razed off the inflated floor prices across the NFT ecosystem, inadvertently changing investor sentiment and forcing users to rethink their long-term investment strategies.
Bitcoin network difficulty drops to 27.693T as hash rate eyes recovery
The reduced difficulty allows Bitcoin miners to confirm transactions using lower resources, enabling smaller miners a fighting chance to earn the mining rewards.
Bitcoin network difficulty drops to 27.693T as hash rate eyes recovery
The reduced difficulty allows Bitcoin miners to confirm transactions using lower resources, enabling smaller miners a fighting chance to earn the mining rewards.
Play-to-own, NFTs and Web3: Crypto Raiders drops knowledge with NFT Steez
NFT Steez chats with Crypto Raiders about the state of blockchain gaming and how to prioritize fun over “financialization” when it comes to NFTs and P2E models.
Bitcoin dips to $22.6K, risking further losses if it fails to hold above 200-week MA
BTC price slides back below its 200-week moving average as analysts stress the importance of staying above $22,800 for bullish momentum to continue.
Bitcoin dips to $22.6K, risking further losses if it fails to hold above 200-week MA
The mood across the cryptocurrency ecosystem is noticeably brighter on July 22 after a week of gains helped traders put the events of the past two months behind them and look toward a positive future.
Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) has been oscillating around support at $23,000 over the past couple of days and continues to hold slightly above its 200-week moving average (MA), which has been a reliable indicator of bear market bottoms in the past.
BTC/USDT 1-day chart. Source: TradingViewAs the debate about the market's direction continues to rage, here are the important levels to watch heading into the weekend, according to analysts.
Bitcoin needs weekly close above $22,800
The significance of Bitcoin trading above its 200-week MA was noted by independent market analyst Michaël van de Poppe, who posted the following chart highlighting the major support and resistance zones:
BTC/USDT 1-hour chart. Source: TwitterAccording to van de Poppe, Bitcoin is “facing crucial resistance again” at $23,500, and what happens next will determine if its price heads higher or pulls back to support at $21,500. He explained:
Finance Redefined: DeFi’s downturn deepens, but protocols with revenue could thrive
The majority of the top 100 DeFi tokens traded in green, with many registering double-digit gains over the past week.
Finance Redefined: DeFi’s downturn deepens, but protocols with revenue could thrive
The majority of the top 100 DeFi tokens traded in green, with many registering double-digit gains over the past week.
Inflation got you down? 5 ways to accumulate crypto with little to no cost
As high inflation destroys the purchasing power of fiat, these options offer hodlers a way to add to their portfolio without breaking the bank.
Inflation got you down? 5 ways to accumulate crypto with little to no cost
Experienced crypto traders know that bull markets are for selling and bear markets are for accumulation, but the latter can be difficult amid a backdrop of surging inflation that saps the purchasing power of fiat currencies.
As the crypto market heads deeper into crypto winter, with prices in the gutter and developers focused on creating the next popular protocol or breakout token, some crypto fans have begun to explore new ways of increasing their stack in preparation for the next bull market.
Here’s a look at the top five ways hodlers can increase the size of their crypto portfolio without breaking the bank so that the money they earn can go toward combating the rising cost of living.
Staking
Staking is perhaps the most tested and proven way to increase the number of tokens held, as the vast majority of proof-of-stake (PoS) networks offer a steady yield for locking up coins.
In addition to helping with transaction validation and network security, staking tokens in a smart contract reduces the available circulating supply, which, in turn, can help boost the price of the underlying crypto asset.
Inflation got you down? 5 ways to accumulate crypto with little to no cost
Experienced crypto traders know that bull markets are for selling and bear markets are for accumulation, but the latter can be difficult amid a backdrop of surging inflation that saps the purchasing power of fiat currencies.
As the crypto market heads deeper into crypto winter, with prices in the gutter and developers focused on creating the next popular protocol or breakout token, some crypto fans have begun to explore new ways of increasing their stack in preparation for the next bull market.
Here’s a look at the top five ways hodlers can increase the size of their crypto portfolio without breaking the bank so that the money they earn can go toward combating the rising cost of living.
Staking
Staking is perhaps the most tested and proven way to increase the number of tokens held, as the vast majority of proof-of-stake (PoS) networks offer a steady yield for locking up coins.
In addition to helping with transaction validation and network security, staking tokens in a smart contract reduces the available circulating supply, which, in turn, can help boost the price of the underlying crypto asset.
Price analysis 7/22: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, AVAX
Traders are still buying BTC and major altcoins on each dip, but selling near overhead resistance could be a sign that price action will remain range-bound in the short-term.