Vitalik Buterin suggests replacing EVM language with RISC-V: A groundbreaking proposal

Vitalik Buterin, the co-founder of Ethereum, has put forward a new proposal to exchange the Ethereum Virtual Machine (EVM) language with RISC-V. This move aims to enhance the efficiency and security of the Ethereum network while also making it more adaptable for future developments. RISC-V is an open-source instruction set architecture that allows for greater [...]

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Tech Industry Leaders Call for AI Labs to Pause Development for Safety, Coinbase CEO Disagrees

This week, 2,600 tech industry moguls and entrepreneurs, including Elon Musk, Gary Marcus, and Steve Wozniak, signed an open letter requesting artificial intelligence (AI) labs to pause research and development for six months. The signatories believe that safety programs and regulations need to be strengthened, as they assert that AI labs are currently in an [...]

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Ethereum Price Alert: Double Top Pattern Suggests 42% Decline Signaling End of ETH Bull Market

Double Top Pattern on Ethereum Price Signals Potential 42% Decline as Bull Market Fades Ethereum’s price has recently formed a classic technical pattern known as a double top, which could signify a significant downturn in the near future. The double top pattern occurs when an asset reaches a peak price, experiences a temporary decline, then [...]

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Banker suggests taxing UK crypto buyers to drive growth in stock investing and boost economy

The United Kingdom has seen a surge in stock investing due to tax-savvy cryptocurrency buyers, according to a recent report. The trend has been attributed to investors looking for ways to maximize their returns while minimizing tax liabilities. A banker highlighted the increased interest in stock investing among cryptocurrency buyers, especially as they become more [...]

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Pakistan Crypto Council suggests utilizing surplus energy for Bitcoin mining a sustainable approach to crypto production

Pakistan’s Crypto Council is suggesting a novel solution to address the issue of excess energy in the country by proposing the use of Bitcoin (BTC) mining. In a groundbreaking move, the council aims to capitalize on Pakistan’s abundant natural resources to power the cryptocurrency mining operations. By harnessing excess energy from various sources such as [...]

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Biopharma Executive Suggests Bitcoin as Lifeline for Industry During Biotech Downturn

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Increasing Bitcoin Activity Suggests Market Bottom and Possible Reversal

Bitcoin has reached a critical juncture as the number of active addresses on the network has dropped significantly. This decline may signal a potential turning point for the market. The latest data shows a sharp decrease in the number of unique addresses interacting with the Bitcoin blockchain. This decline is significant as active addresses are [...]

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DOGE Suggests Cutting IRS Staff by 20% A Bold Move for Tax Reform

The popular cryptocurrency Dogecoin has caught the attention of many investors, with its value skyrocketing in recent months. However, amidst this surge, the Internal Revenue Service (IRS) has decided to crack down on Dogecoin holders. The IRS announced that it will be slashing its staff by 20% in order to focus on enforcing tax regulations [...]

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Yat Siu says blockchain gaming is more than is suggested by low user count

In blockchain news today, Animoca Brands co-founder Yat Siu says although on-chain transactions measure is an important metric to consider when addressing player engagement across blockchain gaming, the measure isn’t the best.

Bloomberg first reported on Siu’s comments on Sunday 23 October, citing remarks made during an interview ahead of the Hong Kong Fintech Week.

The observations also come days after a report that some of the best blockchain gaming platforms such as Decentraland (MANA/USD)and The Sandbox (SAND/USD) were recording very few numbers when it comes to daily active users.

According to Siu, the blockchain transactions metric, which includes such data as sales of NFT lands in the metaverse, does not reflect the broader outlook regarding user engagement.

He noted that in the case of The Sandbox for instance, the figure of 500 daily active users doesn’t reflect the fact that there are more NFTs holders looking to use their assets in-game than those looking to sell them.

In his view, there are other metrics to consider, including jobs created and revenue generated across platforms such as The Sandbox. He says these metrics offer a more accurate measure of player engagement than just the daily active user count.

He pointed out that The Sandbox has over 200,000 monthly active users, with individual landowner wallets pegged at $500,000 to $2 million.

So looking at daily on-chain transactions alone is like claiming that the number of people trading on Wall Street is equal to the population of the United States.

Earlier this month, The Sandbox CEO Arthur Madrid, commented that “on-chain transactions does not mean users,” with the gaming platform noting growth across various metrics.

Some comments about Web 3 metrics:
= Web 3 player worth more than Web 2 players engaged with a wallet, all payers VS low conversion in "Freemium" model;
= on chain transactions does not mean Users;
= NFT owners invest in an asset that will grow in value over time based Utilities; https://t.co/IIpsDjRUnm

Despite the cryptocurrency market swoon in 2022, the latest report by DappRadar shows blockchain gaming and metaverse projects netted more than $1.3 billion from investors in Q3, 2022.

Blockchain-powered gaming activity across 50 networks showed over 912,000 daily Unique Active Wallets in September.

Alien Worlds and Splinterlands had the most activity in terms of players, with more than 160,000 daily UAW registered. Among the top five Web3 games, BNB-based Gameta and Polygon-based Benji Bananas also saw decent gains in daily UAW.

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Bitcoin price: here’s what a closely watched technical indicator suggests

Bitcoin (BTC/USD) remains perched above $21,000 on Monday morning, having scrapped through the weekend without breaching the psychological $20,000 mark.

However, having touched lows of $20,700 over the weekend, and intraday lows of $20,900 so far today, the benchmark crypto could yet see new losses. Bitcoin’s 24-hour performance is -1.3%, while over the week, it has lost more than 12%.

The risk-off sentiment across risk markets continues following last week’s negative closes for equities and crypto, with fresh fears over the US Federal Reserve’s likely push for another 0.75% rate hike.

A look at the daily chart shows the moving average convergence divergence (MACD) has flipped negative. 

The closely watched indicator, which technical analysts use to gauge potential momentum direction, has the short term outlook for BTC in the bearish zone. The MACD, as shown in the chart above, remains below the signal line, with the bearish crossover having seen sellers push Bitcoin from highs above $25,000 last week.

The 50-day moving average is also providing an immediate resistance after price broke below in a -10% return on 19 August.

The monthly Relative Strength Index (RSI) indicator is also suggesting possible downside for Bitcoin, in comparison to the metric’s outlook in previous bear markets.

“There are initial signs that the Monthly BTC RSI 2015 & 2018 Bear Market Bottoms area (green) is turning into new resistance. If this trend continues, this could spell further downside in Bitcoin’s price over time,” crypto analyst Rekt Capital noted in a tweet on Monday.

Pseudonymous crypto analyst Alt Crypto Gems also sees a possible flip below current support. Pointing to the 4-hour chart and the appearance of another bearish indicator, the analyst opines BTC/USD may fall to support levels near $16,000.

$BTC is looking like it has formed an Inverted Adam & Eve pattern and a bearish divergence (4H chart).

This means; if it breaks down towards the support at $20,700, which was a resistance previously, we might see the pattern play out, and thus drop down towards $16.2K. ?? pic.twitter.com/T7H05ec2n0

Bitcoin fell to lows of $17,600 in mid-June amid the bear market turmoil, which makes current levels crucial. Notably, on-chain and technical analyst Cauê Oliveira noted last week that the levels of “maximum pressure” for Bitcoin could be around the $14.5k -$10k zone.

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Bullish Divergence on APE Chart Suggests 25% Spike to $7.89

Altcoin News A bullish technical indicator has flashed on the 4-hour chart for ApeCoin. On May 9, the price of ApeCoin (APE) dipped below $9.64, which was a long-standing support level for the coin. APE’s price posted lower lows and higher lows – a sign that APE may see a short-term spike. A bullish technical […]

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Elon Musk Suggests Making Dogecoin a Payment Option for Twitter Blue Service – Altcoins Bitcoin News

Tesla and Spacex CEO Elon Musk has suggested making the meme cryptocurrency dogecoin (DOGE) a payment option for the Twitter Blue subscription service. Musk is now Twitter’s biggest shareholder. He recently joined the social media giant’s board of directors and promised to bring “significant improvement” to Twitter. Elon Musk Suggests Allowing Payments in Dogecoin Elon […]

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Switzerland’s Largest Bank UBS Suggests Alternative Ways of Investing in Cryptocurrency – Markets and Prices Bitcoin News

Switzerland’s largest bank, UBS, has suggested some investment strategies for investors seeking to gain exposure to crypto assets with less risk than investing directly in bitcoin, ether, or other cryptocurrencies. “There are several main ways investors can access this potential while avoiding the high volatility and regulatory risks of holding bitcoin or rival cryptos,” the […]

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Russian Investors to Pass Exams Before Buying Cryptocurrencies, Draft Law Suggests – Regulation Bitcoin News

A new Russian law may oblige potential crypto investors to take a test before being allowed to purchase digital assets over a certain limit. The authors are also hoping to regulate cryptocurrency mining and cut access to cheap energy for those who mint coins in their homes. Bill to Bring ‘Tight Regulation’ to Crypto Industry, […]

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Crypto lending firm Celsius reportedly affected in BadgerDAO exploit

The BadgerDAO attack has reportedly impacted Celsius Network for more than $50 million, sources suggest.

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Is the Bitcoin Bottom In? Analysis of BTC Derivatives Suggest Limited Price Downside

Bitcoin seems to have hit a price bottom according to insights from BTC derivatives. The data from these derivative markets suggests that there might not be significant downside for Bitcoin’s price in the near future. Market analysts have been closely monitoring BTC derivatives to gauge the sentiment and potential changes in Bitcoin’s price movements. The [...]

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US Senator Suggests Trumps Latest Executive Order Could Lead to US Purchasing Bitcoin

The recent executive order signed by Donald Trump could potentially impact the cryptocurrency market, specifically focusing on Bitcoin in the United States. This action signals a shift in the traditional financial landscape, with the government potentially exploring the idea of purchasing Bitcoin. In the world of cryptocurrencies, Bitcoin stands out as the pioneer and most [...]

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Is XRP Price Heading to $18,000? One Cryptocurrency Group Suggests Its Within Reach

The XRP Price Could Reach $18K, According to Cryptocurrency Research Group A cryptocurrency research group has made a bold prediction that the price of XRP could soar to $18,000. This optimistic outlook has caught the attention of many investors and enthusiasts in the digital asset space. The research group, known for their accurate predictions in [...]

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Bitcoin ETF Inflows Stalling: Analysts Suggest CME BTC Basis Indicates Potential Price Reversal

The inflows of a spot Bitcoin ETF have come to a halt recently, according to reports. However, there are indicators from the CME BTC basis that suggest a potential price reversal on the horizon. This news comes at a time when the cryptocurrency market is experiencing some uncertainty, with Bitcoin prices fluctuating and investors unsure [...]

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Research suggests that Trumps tariffs could result in tax cuts and savings for Americans

In a surprising turn of events, the tariffs imposed by Donald Trump have actually resulted in cost savings for Americans similar to a tax cut. This unexpected consequence has left many people reevaluating their initial perceptions of the administration’s trade policies. Despite the turmoil caused by the trade wars initiated by President Trump, it seems [...]

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