The only guarantee for failure is to stop trying (weekly crypto updates)
As I was a bit too busy with some family matters, I skipped the last week update on crypto markets, but as a bonus, I will try to cover both weeks today. What happened lately?
- Bitcoin: LocalBitcoins it is shutting up after more than 10 years in bussiness, not being able to survive the crypto-winter. You have 12 months to withdraw whatever you have in there. Bitcoin, ETH and stablecoins dropped 2.7% in the combined market cap dominance. MicroStrategy is considering adding BTC futures to its crypto strategy. IMF (International Monetary Fund) has said that the risks of El Salvador Bitcoin adoption have not materialized, over the country limited use. Yeah, right. Wait until they pay all their external debt. The number of non-zero addresses on BTC reached a 44M all-time high after Ordinals NFTs launch. The number of Ordinals surpassed 100K in less than a day after they reach 75K, and BTC traded surged 80%. Bitcoin block size reached and ATH of 2.20MB, and the hash rate surged by 10.3%.
- Ethereum: Technical analysis and golden cross historical performance indicate that BTC and ETH may have started their next bull cycle. Optimism released its second airdrop, 11M tokens to more than 300K users, and you don’t need to claim. Just check your wallet, all the OP from airdrop is there, if you were eligible. I got 3 OP too on the Round 2 of the Optimism Airdrop. AAVE V3 is finally coming to Ethereum, and you can use the V3 Efficiency Mode to boost your yield.
- Altcoins: Infinity Pools is a decentralized exchange offering unlimited leverage on any crypto with no liquidations, and this seems to be too good to be true. Let’s see what happen when they launch at the end of Q1 2023 (I will not use them). Check Camelot instead, on Arbitrum, and its Grail tokens, dual side liquidity and Grail locking may lead up to 197% right now. Do the research before using your crypto. Paxos stopped minting BUSD, after being ordered to do so by the New York Department of Financial Services. All the BUSD tokens remain backed 1–1 and held in bankruptcy remote accounts, Paxos said. Because of the SEC probe into Paxos activity, Paypal paused the development of their own stablecoin, in collaboration with Paxos. In the last 27 hours, Paxos burned $700M BUSD. The mixing service Brender, hit by US sanctions before Tornado Cash, has been resurrected under the name Sindbad, and already laundered $100M from the $1.7B North Korea stole hacking few major crypto…