The Week on News 📬 - March 23, 2021:
Hello investors 📊, traders📐 and HODLERS🔗,
The Weekly Roundup 📰
Last week, although not that exciting on price volatility, some important news just came out!
#Cardano (ADA) - buy the rumor. Sell the news...
The Cardano (ADA)listing on Coinbase was long awaited and in some opinions delayed unexplicably.
Some important action happen to the price as is usual...
A clear pump occurred the day of the anouncement, making ADA price jump almost 50%...!
But you know how the saying goes...
The price of ADA at the day of the listing on Coinbase (official communication) almost 20% from the latter top.
Still, an impressive number of projects waits on line to get into the Cardano Network!
Acording to NEWSBTC, the IOHK (Input Output Hong Kong) - an entrerprise cofounded in 2014 by Cardano's CEO Charles Hoskinson - is having trouble handling the aplications that "flood" in.
The CEO deffends itself against claims that Cardano has no apps running by blaming it on the excess of projects that want to get in, creating a bottleneck effect at the IOHK managment team.
According to Hoskinson:
“As if, smart contracts come and there’ll be no demand. We’re overwhelmingly subscribed. At the moment, our company has no more capacity to service deal flow that comes in for Cardano. People come to me, unless it’s a super high-value deal and some have jumped up the queue, we actually say no and turn them down…”
The Goguen might be the solution enabling, among other improvments, the ability to automatically process startups applications.
The Etherum Improvment Proposal 1559 (EIP-1559) saga continues between miners and developers... as the first battles to keep the mining profitable, the latter strugle to come through with further Ethereum development. The human consensus seems to be the biggest hindering factor for Ethereum.
The EIP-1559 proposes to burn the fee on each transaction, making the possibility of a tip to compensate the miners. As it might seem unfair for those who do all the work keeping the network alive. Still there was - and still is - a big problem with the enourmous ethereum fees, making DeFi unlucrative to most of the users.
The refered EIP is meant to improve the Ethereum's UX (user experience) by reducing the fees. In the process of burning the fee it is also making Ether deflationary, increasing the potential for future gains in price appreciation.
The NFT Craze continues soaring as Time magazine issues 3 unique covers inspired in the "Is god dead?" cover from 1966.
Other NFT case is that of Twitter's CEO, Jack Dorsey, selling his first tweet as a NFT for $2.9 Mil.
This are the NFT's geting mainstream. If in part I am glad that more and more crypto projects and use cases are brought out to the general public, on the other hand I am afraid that this could be the sign of a bubble ready to pop!
What do you think about the NFTs?
For XRP, the Ripple token, the news about the SEC's lawsuit continues with the team and the SEC, and their atorneys, keep exchanging public declarations and documents...
The Ripple lawsuit is an example of how regulatory compliance can hinder the cryptoesphere.
After the opening of the Lawsuit from the SEC against Ripple, several exchanges delisted the asset. Crypto.com is one of the few exchanges who still trade it.
Coinbase was one of the examples of hat delisting in the begining of the year.
Seems strange that one of the most compliancy oriented blockchain network, and with most of its investment coming from institutions could be charged by the SEC?!
And strangely, the former SEC Boss who sued the XRP company suddenly becomes Chairman of Apollo Global Management.
Ripple, through the XRPL aims for turning the world money transfers more effective without the need for lots of 3 party services, nor the hussle of waiting up to 5 days and paying enormous fees.
Apollo, as a credit negotiator could see in XRP Ledger the ultimate competitor!
Now a XRP Army gets 'RelistXRP' trending, demands exchanges comply which could help to explain the latter rise in XRP price.
Could the XRP price under the pressure of the delistings but with demand waiting for it to get back to the market?
Bulish news 📈
Time magazine to auction 3 NFT covers based on iconic ‘Is God Dead?’ design
NFTs hit the mainstream with TIME Magazine’s limited edition covers
Twitter CEO Jack Dorsey’s First Tweet Sold As An NFT For $2.9 Million
Bearish news 📉
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