Weekly Nutbox Report #7
Happy Mid-Autumn Festival, everyone! For those who are not familiar with this East and Southeast Asian Holiday, it is a celebration of the Moon worship, and it is the day the moon goddess, Chang'E, goes to the Moon. Well, for us in the crypto world, we are far from going to the moon lately.
What happened?
Some say that this event may be related to the claim from the Federal Reserve (FED) and US government, who may declare stablecoins as a risk to the present financial system; The deadline of the US Infrastructure Bill may also be a leading cause to the cryptoworld, which pushes a mini bear run in the market.
It may be also the result from South Korea’s crackdown of crypto exchanges. After September 24, Many South Korean crypto operations may have be to be forced to shut down. The government also plans to tax the capital gains of crypto trades next year. It is highly possible that these breaking news brought down the price of Bitcoin and other altcoins.
For those who plan to HODL $BTC for long-term, these news may not impact them at all. It is just another chance to buy in dip. However, those who has suffered loss during the crash earlier this year, and the ones who used all their fund to keeping on buying in the dips, the market may be a bit too cruel.
As long as majority of countries do not see Bitcoin as a legal tender like like El Salvador, the price of cryptocurrencies still need to peg their values to fiat money. We will have to see crypto as stocks since their prices would go back and down against US Dollars (or other currencies).
$PNUT Pricing
The $PNUT also suffered the bear market, and once again it dropped to below $0.03; it was down 13% comparing with the beginning of the week. Looking the bright side, token holders can take advantage of this opportunity to get more tokens, before the Walnut Network's airdrop.
No one can guess the future though, we have to see what would happen next.
Total Delegated SP
The total delegated power of Peanut project has reached ATH for three consecutive weeks. It seemed that the decline of prices did not have too much negative effect to the confidence. Although the rate of the growth has dropped, it still maintains positive growth.
Update on Walnut Platform
NOTE: Beta Testing Site (https://test.nutbox.io). Not fully live yet.
We talked about delegating HIVE on Walnut platform. It is similar to leo.voter. Delegate HP to earn community driven crypto tokens.
It aims to assist non technical users to utilize HIVE influence and create their own crypto economy.