Overview
- PayPal joins Coinbase TRUST network.
- Acala traces “bad” aUSD.
- Arweave hits block 1m.
- BendDAO emergency changes amid NFT crisis.
Good morning Banter Fam,
BTC is seeing some sideways action today, while ETH seems to be heading in a different direction, down. Overall, the markets it seems are shifting from mundane to highly volatile from day to the next. However crypto may be performing better than many think, with it holding up better than the traditional markets (NASDAQ, S&P500, DOW) over the past day.
Without further ado let’s jump in and see what’s happening.
Market update 🌍
BTC/USDT 1D
Yesterday’s close saw the leading crypto close on $21,399.83, down -0.54% for the day.
So far today BTC has been moving sideways, with its current price at $21,455, which is up 0.26% on the day.
Bitcoin has been holding up quite well considering the state of the traditional financial market that saw the S&P 500 down -2.14% and the Nasdaq down -2.55%. But after losing the 200ma on Sunday, can it hold? That is the question, as historically the traditional markets have defined BTC’s price movement.
High-resolution chart
ETH/USDT 1D
Yesterday saw ETH close at $1,624.66, an upwards movement of 0.44% for the day.
ETH is seeing some downwards action this morning though, already on $1,592, which is down -1.91% on the day.
The biggest question on people’s minds is if the Merge has been priced into all this action. The truth is that the biggest ETH moves may come closer to the Merge.
High-resolution chart
| US markets close | Gain |
| S&P 500 | -2.14% |
| Nasdaq | -2.55% |
| Dow | -1.91% |
| VIX | 15.73% |
Notable Gainers (24h):
| Protocol (Coin) | Price ($) | Gain (%) |
| EOS (EOS) | $1.77 | 19.6% |
| Chiliz (CHZ) | $0.221895 | 17.0% |
| Lido DAO (LDO) | $2.22 | 17.1% |
| Cosmos Hub (ATOM) | $11.50 | 11.6% |
| Curve DAO (CRV) | $1.10 | 9.9% |
| Bitcoin Fear and Greed Index | 28 (Fear) |
| “Crypto” Google Trends 90d | 45 |
| “Bitcoin” Google Trends 90d | 32 |
Newswatch 📰
Arweave hits block 1m. In case you missed it, Arweave reached block 1 million. Arweave founder Sam Williams mentioned that “350m pieces of data stored permanently and the journey has only just begun!”.
PayPal joins Coinbase TRUST network. PayPal is the latest addition of crypto heavyweights to join the Travel Rule Universal Solution Technology (TRUST) network. The move helps them to comply with digital asset travel rules.
Acala traces “bad” aUSD. 7 days after the aUSD error mint incident happened on the Acala network, the team have posted on their blog with details about how they have traced the 3.022B aUSD error mints that were claimed by 16 identified addresses. The post goes into detail about how they plan to move ahead.
News Tidbits:
- Crypto.com renovates Staples Center.
- Samsung Securities to launch a cryptocurrency exchange in South Korea.
At the protocol level ⛓
- ENS registrations going strong.
- Coinbase Wallet launches support for the Solana dapp ecosystem allowing its 103m verified users access to the major Layer-1.
NFT & metaverse update 🐵
- BendDAO proposes emergency changes to the lending protocol.
- A Pudgy Penguin sells for 400 ETH amid NFT and crypto winter.
Banter’s take
It’s always when you least expect it that markets shift. Now we are not saying that the markets will shift imminently, but as you can see from the above stories (like with PayPal) we are seeing slow but continued adoption of blockchain tech in the traditional world.
So keep even though it may seem bleak out there right now, don’t forget that the developers are building, and the institutions are planning.
Gabri
Follow me on Twitter for daily updates!
Disclaimer
Good Morning crypto (issued by Crypto Banter) is a newsletter for entertainment purposes only.
All opinions expressed by the publisher, writers, and chartists should not be construed as financial advice and do not necessarily reflect the views of Crypto Banter. The publisher, writers, and chartists may hold positions in the tokens and assets discussed. Readers are encouraged to do their own research.
