Cardano September 12th

According to the IOHK info video, recent updates are aimed at testing stability and security and ensuring that the basic code used to write smart contracts works properly.
The Cardano Network is in the third phase of the roadmap for the five eras. The current era of Goguen aims to add smart contract capabilities to Cardano to allow developers to create decentralized applications on the blockchain.
In the Cardano ecosystem, Alonzo is one of the subphases of the Gogen era, divided into three phases: blue, white and purple. Cardano’s clever contract language is called Plutus. Cardano considers Sunday, September 12th to be the date to switch to the mainnet, giving developers less than two weeks in the current test environment.
A Cardano spokesman did not immediately respond to a request for comment.


Cardano’s ADA Tops $3 for First Time as Smart Contracts Enter Test Mode

The Ada Token de Cardano increased more than 7% to a maximum of every day of more than $ 3, as the main developer of the project announced that the functionality of intelligent contracts was activated in a test network, which approaches a step closer Leading the competition with the lokchain of ethereum. The price of Ada increased as high as $ 3.09 before rising to about $ 2.94 on the press time. The graph of the last 24 hours shows Cartanos Ada Token arriving at all times over $ 3. (Messari). The last rally came as the main developer of IOHK, led by Charles Hoskinson, who had successfully the Cardano Test Network. Implement the ability of intelligent contracts and that the approach now the “Alonzo” update of the main network will refuge, still on the track “said on September 12. Cardano is the third largest Cryptomonance on the cover market ($ 93700000000), behind Bitcoin ($ 934 billion) and etherum ether ($ 439 billion). The burned ADA caused by 1.583% this year, compared to 69% for Bitcoin and 417% for ether.
Cardano is considered one of the so-called “murderers of ethereal killers,” fast and programmable blocks of blocks that can eventually disappear as the leader in decentralizing finance (DEPI), as well as in other cases of use, such as non-relied signs , or NFT. The signs of a group of entrants from ethereum, who include polkadot, solana and terra platforms, view triple-digit price profits last month, since ethereum seems to solve problems with congestion and high rates on their network.
Read more: SOL burned from Solana almost tripled in August, as investors bet on ‘ethereal killers’

Implementation test and network updates known as “fork” are widely regarded as significant milestones for developing a cryptocurrencia, as the block projects are slowly mature and add new features.


Record Doge NFT Sale

NFT distribution aims to mitigate the risks associated with NFT pricing.
Imagine someone trying to get a loan based on the value of CryptoPunk. You have to find a buyer, and the person offering the loan will charge the premium based on the risks associated with the fact that you may not be able to sell it immediately. ” Research analyst Mason Nistrom explains. “Now, in an ideal world where puncture men are fragmented and have more access to buyers, there is less risk to those who take out loans and less premiums paid by puncture owners. . ”

But like all innovations, some of NFT’s ownership is also risky and faces criticism, especially technology that is still in its infancy.
Dragos Dunica, co-founder of the website NFTDappRadar, states that by locking NFTs in a safe, NFT split issuers must risk attacks on smart contacts. However, fractional issuers often retain a majority ownership of NFTs. This means that minority owners need to be aware of possible “pump and dump” schemes.
When Dux Feisty was split and sold in August, some NFT market viewers called it a “scam.” Blockchain data suggests that the early workforce, Feisty Doge, has eliminated NFT liquidity from NFD / ETH trading pairs.
You’re trying to see everything broken and suddenly repackaged as a non-shit ERC-20 sign, “tweet Twitter user @ 0xShual, who discovered the Feisty Doge Fractional NFT issue.


Record Doge NFT Sale Highlights Growing Demand for Fractionalization

Only three months after the non-fungible token (NFT) with the image of the original Shiba Inu Doge Coin Meme was sold for about $ 4 million, NFT announced that after some of its assets were sold for more than $ 11,000. Worth more than $ 225 million. It’s ether.
Investors will quickly raise the price of doge NFTs to record levels by splitting doge NFTs into about 17 billion tokens called DOGs and selling 20% ​​of the offers at 24-hour auctions. I was able to. ..

This opportunity reflects the growing demand from investors for NFT split ownership, a new and easy way to enter the increasingly expensive and volatile NFT market. Critics have questioned the potential risks surrounding this NFT innovation, a trend that has increased in recent months.
In sorting, NFT owners deposit their NFTs in a safe on one of the NFT sorting platforms so that they can store their ERC-20 tokens. The owner of the NFT also determines the total supply of mint ERC-20 tokens. Unlike NFTs, which generally apply the Ethereum ERC-721 token standard, ERC-20 tokens are fungable and can be exchanged, transmitted and received by smart contracts running on the Ethereum blockchain.
The NFT division “provides broad access to the community and helps make NFT’s assets productive,” said Delphi Digital, co-founder and CEO of Anil Lulla.
Pleasr DAO, a group of investors who bought Doge NFT for 1,696 ethers (about $ 4 million at the time) in June, auctioned 20% of the total $ DOG offer on the platform (about 3.4 million DOG tokens). .. Decentralized fund-raising miso. This group sorted doge NFTs through a platform called Fractionional Art. PleasrDAO continues to hold a majority ownership of $ DOG.
Investors behind DAO, a decentralized autonomy, include venture capitalist Su-Hu from Three Arrows Capital, Tom Schmidt from Dragonfly, and Robert Leshner from Compound.
Fractional NFTs used to sell at surprisingly high prices. Another NFT related to Doge Meme sold for over $ 86 million at the end of August after being split into tokens. This is called the NFT Fighter Doge (NFD).


Rising fortunes

According to Skew’s data owned by Coinbase, FTX is the third largest cryptocurrency exchange on Bitcoin futures contracts, after Binance and Bybit.
In the Bitcoin spot market, FTX also gains market share over more well-known and established competitors such as Binance and Coinbase.
According to data from blockchain data company Kaiko, the amount of Bitcoin in FTX has increased by a percentage from 2.5% to 15.5% since November 2020, and the stock market known for derivative products has also turned many traders into the locomotive market. Indicates that you are attracting.
“FTX Global does not currently serve US traders, but the US subsidiary of the exchange is strengthening its marketing efforts, partnerships and regulatory relationships, which could pose a strong competitive threat to Coinbase.” Kaiko wrote in her weekly report on August 30th. Read more: $ 18 billion worth of FTX crypto exchange in a $ 900 million round of funding

In July, FTX entered the largest funding round in cryptocurrency history with a $ 900 million Series B round.
The scholarship still bears its name, spending $ 135 million on naming rights at the local Miami Heat Arena, defeating the popular $ 210 million esports team, and decorating the referee. I’m paying for it. Major league baseball with the FTX logo.
Binance is still the best in the global market, “Kaiko wrote in his report, but as we already know in the rapidly changing crypto industry, stock market dominance is not important.


FTX’s FTT Token Hits All-Time High Following LedgerX Acquisition

With the acquisition of cryptocurrency derivative platform LedgerX by FTX.US, FTT (FTX Exchange) hit a new high on Tuesday.
According to Messari data, the FTT reached $ 66.08 after the market opened in the United States on Wednesday. With a market capitalization of $ 6.19 billion, the FTT is the second largest centralized exchange token after Binance’s BNB.
The pending acquisition of LedgerX will allow FTX.US to offer calls to crypto futures, exchanges, pits and retailers. This is the latest sign of the growing ambitions of Sambank Manfried’s crypto empire in Hong Kong. “We’re probably gaining momentum as we’re making quite a few strategic acquisitions right now,” FTX institutional investor and head of free sales, Jonathan Cheeseman, told Coindesk.
Read more: FTX.US buys LedgerX, which is offered for US cryptocurrency derivatives.

LedgerX has several major licenses that allow it to offer Bitcoin and ether derivatives in the United States, making it easier and faster for FTX to enter the US market with such products. Founded in 2017, FTX is known worldwide for its cryptographic derivatives.
Analysts previously told CoinDesk that FTX’s acquisition of Blockfolio from FTX in May 2020 made it “very retail-friendly.” Called “FTX” in July, Blockfolio is a portfolio tracking application that primarily serves a small client base.
Cheesman also said that FTX has benefited from growing concerns about its competitors. Cheesman said that one of the exchanges was “in the limelight” due to regulatory concerns, without mentioning any particular exchange. (We call it for him: Binance).

Meanwhile, Chinese crypto exchanges, including Huobi and OKEx, are tightening their derivative rules in China’s new efforts to curb crypto trading.
Everything shows why FTT is increasing. Traders see these signs as a way to bet on stock market growth.
“We each made a little profit,” Cheeseman said.


Bitcoin Rises Above $50K After Ether’s Biggest Single-Day Gain in 6 Weeks

Bitcoin will become more solid in the wake of an airy rally to a three-and-a-half-month high on Wednesday.
According to CoinDesk 20 data, the best cryptocurrencies by market value exceeded the $ 50,000 market for the first time since August 23 and traded 2.7% higher on printing days.
Advances will take place the day after Ether, a sign of the indigenous peoples of the Ethereum blockchain, surpassed $ 3,800 and reached its highest level since mid-May. Ether ended the day with an 11% rise. This is the largest daily rise since July 21, and analysts predict a continuous rise. Bitcoin is also facing north, and the data shows a strong bias among large investors. A Trader Commitment (COT) report released by the US Commodity Futures Trading Commission (CFTC) on August 27 shows that asset managers had a record $ 165 million exposure. “Exposure to online asset managers has been positive for the first time since April, indicating that financial institutions have turned positive about Bitcoin,” Arcane Research said in a weekly report.
Some observers cite the recent decline in Bitcoin balances on the Nasdaq exchange’s Coinbase as evidence of new demand from large investors. William Clemente, Chief Insight Analyst at Blockware Solutions, tweeted, “Coinbase buyers are back,” along with a Glassnode chart showing the number of Bitcoin balances since August 23. Since Wednesday, Coinbase has 709,695 BTC. The lowest number since 2017.
Currency-based exits are often used to represent institutional demand, as exchanges provide postal services that are directly integrated with over-the-counter (OTC) desks. Financial institutions often make over-the-counter transactions so as not to affect market prices. However, some observers are skeptical of Coinbase’s bullish theory. Galen Moore of CoinDesk said in April that coins have replaced Bitcoin as the primary trading currency and exits are trending.
That said, other blockchain statistics show a new accumulation of investors. In a report released Tuesday, blockchain data company Santiment said that the amount of Bitcoin held by addresses from 100 to 10,000 BTC has increased over the past week, a new one among Bitcoin whales and investors. He said he was showing confidence.
“After the volatile start of the month, the total balance of these containers has increased by about 30,000 BTC [$ 1.5 billion] over the past seven days, now accounting for 48.95% of Bitcoin’s total circulating supply.” Santiment said. .. .. Address statistics are not a perfect indicator, as a converter can have multiple addresses.
According to Clemente of Blockware Solutions, supply chain dynamics guarantee a price tag of $ 58,000. From a technical analysis point of view, the Bulls need to establish a foothold of $ 50,000 or more to move to the next resistance at that level.


Moving forward

Cryptocurrency is a new asset class we have never seen before. It brings all new technologies, risks and opportunities. Clients wishing to participate expect to help their advisors keep their money safe and explain how this investment fits into their portfolio and financial life.

Learning about this new technology is key to these conversations about the most interesting asset classes we’ve seen for some time.