“Despite losing $4,000 in a single day on Nov. 10 and trending sideways since, Bitcoin is anything but bearish, many analysts argue. Bitcoin (BTC) is still on to run to $90,000 in the coming weeks after “trapping” leverage traders.
With short-term conditions punishing leveraged long traders but funding rates still high, hodlers may be in for more pain before a recovery kicks in. When it does, new all-time highs are due, Decentrader believes.
We remain bullish on high time frames and continue to expect the price to rally up to the $85,000 –$90,000 region in the coming weeks, which aligns with the 1.618 fib retracement level.
The last time Bitcoin had such a major upgrade was the Segwit upgrade in Aug 2017. At that time, the price of Bitcoin was at $4000, it then went on to rally up to nearly $20,000 in the following four months.”
See Also: Locked In: Bitcoin’s Taproot Upgrade
“According to the report, issued USDT is primarily acquired by just two market makers. Between 2014 and October 2021, Alameda Research and Cumberland received a projected $60.3 billion in USDT, accounting for almost 55% of all outbound volume ever. According to Protos, the closest competitor minted a few hundred million USDT.
Alameda Research, which is led by 29-year-old cryptocurrency billionaire Sam Bankman-Fried, acquired $36.7 billion or nearly a third of all Tether produced. Cumberland Global, the world’s largest crypto liquidity provider, comes in second with $23.7 billion received. Cumberland is a DRW Holdings subsidiary, which was founded in 1992 and is regarded as one of the world’s major financial traders.”
“On Thursday, Universal Music Group (UMG) announced it had signed Kingship – not a musician, but a collection of four anthropomorphic non-fungible tokens (NFT). Billed as a “metaverse group,” Kingship is a partnership between UMG and the NFT investor Jimmy McNelis, who owns the four tokens in question.
The plan is to give audiences a taste of the IP first – the stories and world-building behind the four characters – before any music comes into play. Each image comes along with its own fabricated backstory.
You’re going to see the personalities, the characters, they’re going to come to life as 3D. It’ll be almost like the way Marvel looks at [its] vault and IP [intellectual property] and starts to storytell.
The closest analog is probably “Jenkins the Valet” – a brand built around an invented persona for one of the Bored Apes – which proved there’s a market for this sort of thing. “Jenkins” has released its own spin-off NFT collection, and recently signed with Creative Artists Agency.”
“Forte’s platform is used by gaming publishers to incorporate blockchain technology into their games. The platform also allows non-fungible tokens (NFTs) to be minted and sold.
Funding will be used to expand Forte’s products and services, as well as speed up the onboarding of emerging game and content publishers.”
“The Costa Rican government will use Chia’s blockchain technology to develop an open-source software platform for improving the management of its “climate inventory.”
The platform, which will be shared free of charge with other countries, will also operate national registries ‘to manage carbon inventory, climate registry and record bilateral corresponding adjustments with trades to shift credits among countries.‘”