Time: October 4, 2022 to October 11, 2022
• Wall Street saw its biggest two-day gain since April 2020 last week, however, all those gains were given back in the next few sessions, especially after the release of US non-farm payrolls. At the same time, Bitcoin has once again outperformed the stock market.
• Among all the blue-chip NFT projects, Clone X - X Murakami is one of the most active. Shortly after its physical clothing claim event in August, the Japanese contemporary artist-led project announced new plans. Not only that, Clone X holders will also be able to get free airdrops in November.
One of the strange things that often happens in financial markets is that investors often overinterpret, turning bad news into good news, or good news into bad news. Just last week, there were rumors that century-old banking giant Credit Suisse (Credit Suisse) might collapse in the style of Lehman Brothers. While the bank's shares plunged to an all-time low of $3.64 in the wake of the scandal, the major indexes were largely muted. In view of the fact that a sharp increase in interest rates may destabilize traditional banks, market participants believe that central banks may turn dovish in fiscal policy, coupled with the slowdown in manufacturing PMI and job vacancy data, Wall Street ushered in a long-lost two-and-a-half years retaliatory rise. However, the optimism didn't last long, as Friday's non-farm payrolls didn't meet expectations. As of this writing, the S&P 500 futures index is still struggling to maintain its 3,600 level. If this support is broken, the stock market will return to where it was two years ago, meaning that all the gains in those two years will appear as if they never happened. While bitcoin has performed relatively strongly compared to stocks, it faces the same dilemma.
Many cryptocurrency professionals have this saying: "Continue to build in a bear market." That's right, the development and innovation of cryptocurrencies have not stopped for a moment, such as the RSR mainnet, Xen Crypto, Aptos, etc. At the same time, the acquisitions have not shown any signs of stopping. Huobi Global, one of the largest cryptocurrency exchanges in the Asian market, has agreed to be acquired by Hong Kong-based investment firm About Capital. Soon after, About Capital officially announced the establishment of a global advisory board composed of blockchain industry leaders and traditional enterprises. Tron (TRX) founder Justin Sun is one of the members of the advisory board. Sun Ge said in the press release that the committee’s focus will be on supporting Huobi Token (HT), strengthening its position in the virtual asset industry, rather than launching new tokens. As soon as this remark came out, HT was revived with full blood, and it skyrocketed by 31.9% in a single day.
About a month after the end of the physical clothing claim event, Clone X released the trailer of the latest plan non-stop, and at the same time announced that it will issue airdrops to all NFT holders in November. This exciting news sent the Clone X floor price soaring 44% in just 3 days, highlighting the strong buying interest in the market. The 30-second trailer, which has amassed 274,000 views so far, features the adorable critters. In the ending cutscene, the heroine enters a secret room full of eggs, which will be airdropped to all NFT holders next month. I believe that all NFT enthusiasts hope that major blue-chip projects will release updates one after another to rekindle this long-cooled NFT market.
The trailer is very cool, top notch quality! Watch link: https://twitter.com/RTFKT/
Bitcoin surged past $50,000 due to increased institutional investment, driven by the approval of Spot Bitcoin ETFs and positive macroeconomic conditions. While retail participation remains subdued, experts anticipate further growth fueled by regulatory clarity and optimism surrounding the upcoming halving event in April.
JoySouth Korea tightens regulations on crypto exchanges to enhance oversight and consumer protection, aligning with global trends for clearer legal frameworks in the digital asset space. The measures include intensified scrutiny, license renewals, and investigations into alleged violations like OKX's unregistered operation.
JoyBinance founder CZ's sentencing for money laundering charges is postponed to April, stirring speculation. The delay raises questions about potential implications for the cryptocurrency industry amidst heightened regulatory scrutiny.
JoyGoogle's Gemini AI, formerly known as Bard, received upgrades, but users are cautioned against sharing confidential information due to human review processes. Concerns arise over data privacy as Google collects various user data to enhance its AI capabilities.
MiyukiBitcoin's recent surge to $50,000, driven by renewed investor interest and anticipation of the halving event, highlights its resilience and potential for further gains. Investors navigating the volatile crypto landscape should balance optimism surrounding the halving with caution, as reaching new highs remains uncertain amidst market realities.
WeiliangAhead of Bitcoin's upcoming halving, Litecoin's trading volume decreases, raising concerns among investors about its future performance amidst uncertainties. Meanwhile, KangaMoon disrupts the meme coin space with its innovative play-to-earn model, bridging gaming and social-fi elements, presenting a lucrative investment opportunity with its Stage 1 presale price and promising growth potential upon exchange listing in Q2 2024.
AlexDN404, a new NFT standard, challenges ERC-404 with its innovative approach, offering fractional ownership and potential market liquidity improvements. Amidst Ethereum gas fee surges and the rise of ERC-404 exemplified by Pandora's exponential growth, stakeholders must carefully assess the evolving landscape of NFT standards.
MiyukiThe cyber attack on PlayDapp resulted in the theft of $290 million worth of PLA tokens, highlighting vulnerabilities in decentralized gaming platforms. PlayDapp is actively collaborating with authorities to track the stolen tokens and implement measures to prevent further exploitation, while stakeholders grapple with the impact on user confidence and token value.
WeiliangWeb3Auth has integrated Farcaster into its SDKs, enabling users to authenticate via QR code scanning and granting self-custodial wallets for secure transactions. This integration prioritises user control over digital identities and lays the groundwork for future data read and write capabilities within the Farcaster protocol.
JoySingapore's blockchain sector seeks support from Budget 2024 for talent development and regulatory clarity. Stakeholders advocate for incentives to upskill developers and bolster sustainability initiatives while enhancing regulatory resourcing for digital asset businesses.
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