New trends in the crypto market – The Cryptonomist

New trends in the crypto market – The Cryptonomist

Blockchain Crypto Market Technology
September 10, 2022 by Coinvasity
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BNB Chain launches its zero-knowledge proof scaling technologyBinance Smart Chain Is Making Giant Leaps In The Blockchain SpaceIs AI the future of human trading?The CryptoVerse Expo # 2 Poland will be held on September 9 at the Kinoteka in WarsawDubai issues regulations governing virtual asset marketingMeasures needed to operate crypto in Africa get complicatedBinance participates
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BNB Chain launches its zero-knowledge proof scaling technology
Binance Smart Chain Is Making Giant Leaps In The Blockchain Space
Is AI the future of human trading?
The CryptoVerse Expo # 2 Poland will be held on September 9 at the Kinoteka in Warsaw
Dubai issues regulations governing virtual asset marketing
Measures needed to operate crypto in Africa get complicated
Binance participates in Philippine Senate hearing on cryptocurrency guidelines
Iran: more precise regulation on cryptocurrencies coming
UN: “monitoring the use of cryptography can make the Internet safer”
Forged document from the SEC against Tether
North Korea is the new realm of crypto hackers
SEC: Gary Gensler considers Bitcoin to be a commodity
The CryptoVerse Expo # 2 Poland will be held on September 9 at the Kinoteka in Warsaw
Asia’s largest Metaverse NFT event, Seoul Meta Week 2022 will be held in October
Discover golden opportunities for your business with Blockchain Dubai Summit 2022
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Cardano NFT Column: Yummi Universe
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Cardano NFT Column: CardanoBits
Chainalysis and the growing phenomenon of crypto hacks
SEC: many cryptocurrencies are securities
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The most crypto-friendly online banks
Fidelity: Bitcoin trading for retail clients
Some optimistic forecasts for Bitcoin are surfacing
Peter Schiff is back on the attack against Bitcoin
Bitcoin’s dominance remains flat
Ethereum: the countries most interested in the Merge
Ethereum: Seba Bank in Switzerland launches ETH staking
Ethereum: Bellatrix update has taken place
Bellatrix, Ethereum’s last hard fork before the Merge
Paraguay: new cryptocurrency mining law vetoed
Bitcoin mining: difficulty increased by 9.26%
Arrested a Russian man who mined crypto at a Covid-19 hospital
$349 million devaluation for Bitcoin mining company Riot
CEO of Circle comments on Binance’s new move
Tether: a response to Binance’s decision to block USDC
Russia considering cross-border stablecoin payments
BUSD overtakes ADA and returns as seventh most capitalized cryptocurrency
Trading: technical analysis of the price of Bitcoin and Ethereum
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Trading: technical analysis of Bitcoin (BTC) and Ethereum (ETH)
Bitcoin (18k), Ethereum (1.5k), Binance Coin Price Analyses
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FBI warns cryptocurrency investors about DeFi vulnerabilities
​​MakerDAO signs $100 million DAI loan with Huntingdon Valley Bank
DeFi: industry figures drop again
3 best Celsius alternatives in 2022
Crisis for Vauld? Withdrawals halted and corporate restructuring underway
Sony Music has filed a trademark to release NFT-backed music
NFT: the latest news on Unstoppable Domains, BAYC, Nifty Gateway and more
Sorare: after fantasy football here comes basketball with NBA and NBPA
Meta launches Creators of Tomorrow
Polygon welcomes GameSwift (formerly StarTerra) to launch Web3 games
Blockchain is at the service of gaming
Microsoft invests in blockchain gaming with StarHeroes
The best play-to-earn apps that pay for playing games
Meta launches Creators of Tomorrow
Renault: Agreement with The Sandbox metaverse
Meta: $150 million to teach in the metaverse
Incognito mode arrives in the metaverse
The Sandman: meet the Italian NFT artist who drew Goldie and more
Bruno Cerasi: the NFT project Faded22/ on display in Times Square
The true identity of crypto artist Pak might be revealed
“Crypto Art Begins”: the first NFT book by Rizzoli with 50 top artists
Prince Philip of Serbia and Yugoslavia joins Bitcoin startup JAN3 as CSO
Coinbase is funding a lawsuit by Tornado Cash users against the US Treasury
India is about to launch the Digital Rupee
New partnership between Gamestop and FTX
India is about to launch the Digital Rupee
Digital Dollar Project launches a project with Ripple
Revolut updates its app for younger users and launches Revolut <18
Visa: number of tokens issued surpasses cards in circulation
Binance will auto-convert the main stablecoins into BUSD
UK: new rules for cryptocurrency exchanges
Binance: CEO Zhao denounces hostile attitude toward the exchange
Kraken makes its books public to show the underlying
How to use Solidity from Ethereum
Ethereum: how do smart contracts work?
What exactly is a smart contract?
How to use Polygon in DeFi and earn MATIC on AAVE
Binance will auto-convert the main stablecoins into BUSD
UK: new rules for cryptocurrency exchanges
Binance: CEO Zhao denounces hostile attitude toward the exchange
Kraken makes its books public to show the underlying
Continuously losing money in the Crypto Market? A 20-year trader share his ways to profit
How to buy, sell and create NFTs on OpenSea. The ultimate guide
How Compound works for lending with cryptocurrencies
Crypto gadgets: new physical device for tracking cryptocurrencies
Bitcoin Beach: the wallet project born in El Salvador expands.
LaLiga Names Divi Official Crypto Wallet for MENA, SEA, & China, in World’s First for a Football League
How to configure a MetaMask wallet
Recover a Bitcoin wallet.dat password in 2 minutes!
By Vincenzo Cacioppoli – 9 Sep 2022
The Bybit exchange has released a new report regarding current trends in the crypto market.
Summary
What are the new trends in the crypto market and how is the market doing after going through one of the most difficult times in its entire history? These are some of the questions addressed in Bybit and Nansen’s new report on the state of the crypto industry.
One of the first aspects that the report dwells on is the merciless analysis of the huge loss of capitalization, on the order of 67% in the last seven months, due to the big drops in the market, which have seen all cryptocurrencies plummet from their November highs by 60 to 80% of their value. 
The beginning of the report reads:
“During the broader market sell-off in June, Bitcoin retracted due to the surging market share of stablecoins. This potentially signaled that the flight-to-safety period had ended, and the market had officially entered the capitulation phase.”
June shows how the Fear and Greed index signaled a feeling of extreme fear in the market. In early July, the index reached its lowest level since September 2019, before rebounding slightly in the following days, although its level still remains very low, given the difficult economic situation that also impacts cryptocurrency markets, which increasingly seem to be following a correlation with traditional markets, especially that of Nasdaq technology stocks.
Bybit and Nansen experts explain:
“The 30D correlation between equities and BTC decoupled to 0.5 in July for the first time since March this year, but resumed to an elevated level in August. With the Nasdaq 100 index rebounding 19% from its lows at the time of writing, a correction may likely lie ahead in the short term, indirectly posing headwinds for the cryptocurrency.”
According to the experts who authored the report, the July-August rebound was driven by futures and options, while spot trading volume seems to have behaved rather volatile. Another aspect that is highlighted by the report is the impact that the upcoming Merge update for the Ethereum blockchain may have, which is expected to have a strong impact on the entire cryptocurrency market.
The experts then continue:
“Most Ether options expired in September, revealing that most trades seem to have bet on The Merge and could possibly realize profits any time before the highly anticipated upgrade event.”
Another factor that is attracting the attention of many investors is that inherent in the stablecoin market, which has been hard hit by the failure of the Terra ecosystem and its UST algorithmic stable, which has rattled the entire industry for days. Recent stablecoin movements and technical indicators seem to point to a market trend turnaround.
August saw stronger outflows ($1 billion) than inflows ($2.1 billion and $1.4 billion in June and July, respectively) for the first time since May. The shift from inflows to outflows could indicate an early sign of a turnaround, in which capital may be returning to the DeFi space from the major exchanges after the capital flight of the past three months.
The report then turns to the state of the NFT market, which after booming in 2021 has slowed down sharply in the first 8 months of 2022. The decline in NFTs continues to remain very high in August. While the market is bearish, NFTs have underperformed Ether in dollar terms since the beginning of the year for the first time this year. Due to the collapse in minimum NFT prices, the market has seen a drop in the number of first-time buyers while the number of return buyers remains high.
The report then looks specifically at the correlation that has occurred between the NFT market and the performance of Bitcoin and Ethereum:
“Following the recent broader price correction, NFT correlations with BTC have spiraled in terms of both Ether and dollars. The repeating pattern where NFT correlations with BTC soar when Bitcoin plunges, and drops when the price rebounds or is range-bound, further affirms what we covered in the previous month’s report, that NFTs are not a good hedge against Bitcoin.”
Vincenzo was born in Genova but lived most of his life in Milan. He has a degree in political science. He is a journalist, blogger, writer, and marketing and digital advertising expert. After a long experience in traditional marketing, he started working with the web and digital advertising in 2011, creating a company called Le enfants. Passionate about the web and innovation, in 2018 he started exploring the topics related to blockchain technology and cryptocurrencies. Independent cryptocurrency trader since March 2018, he now collaborates with companies in the sector as a content marketing specialist. In his blog. mediateccando.blogspot.com, he has long been primarily focused on blockchain, which he considers to be the greatest technological innovation after the Internet. His first book about blockchain and fintech is scheduled for release in November.
Cryptonomist Editorial Staff – 9 Sep 2022
Reporting the future.
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