“Most cryptocurrencies traded higher on Friday after a volatile week. Ethereum (ETH) was the standout, climbing as much as 5% in the past 24 hours, just shy of $3,000 for the first time in two weeks. Meanwhile, bitcoin (BTC) rose above $42,000 and was up 3% over the same period.
Equities were also higher on Friday, while gold, a traditional safe haven asset, traded lower. The rebound in stocks and the outperformance of several alternative cryptocurrencies (altcoins) suggests a greater appetite for risk among investors.
We remain optimistic that any dips for ETH and BTC are buying opportunities.
Ether’s rise is partly due to progress on the merge of the Ethereum blockchain’s mainnet with the Beacon Chain. Earlier this week, Ethereum merged on the Kiln testnet ahead of the blockchain’s eventual move to a proof-of-stake network.
We have seen a corresponding increase in the number of active validators on the Beacon Chain from 300,702 at the end of February to 315,576 as of March 17.”
“The Argentine Senate on Thursday night approved a debt deal of $45 billion with the International Monetary Fund (IMF) linked to an agreement that includes a provision discouraging the use of cryptocurrencies.
For its part, the cryptocurrency provision was included in a letter of intent signed by Argentina and the IMF on March 3. The provision, entitled “Strengthening financial resilience,” says:
To further safeguard financial stability, we are taking important steps to discourage the use of cryptocurrencies with a view to preventing money laundering, informality and disintermediation.
The Latin American country, which recorded year-on-year inflation of 52.3% in February, has become one of South America’s the leading crypto hubs in the region.”
“What makes Dietz’s metaverse a “meta” metaverse (not to be confused with Meta’s metaverse) is its focus on interoperability. The digital ecosystem allows users to build projects on its virtual land using several different game engines, including Blender and Unreal Engine 5, used by Epic Games to run “Fortnite.”
Dietz’s metaverse itself is centered around a coordinate system that maps experiences within the platform’s many cubes, which users themselves can essentially own as virtual land. Inside the cubes are more cubes, and within them, more cubes. It creates what Dietz calls “the Alice in Wonderland effect,” where space can be embedded inside itself, and users can shrink themselves to experience it.
The MetaMetaverse also comes attached to its own layer 1 blockchain, boasting a new programming language called “metametalang” that allows users to build out metaverse ambitions of their own.
The programming language can be used for running games and simulations inside of [the cubes], and mapping parallel realities, all in a natively cross-chain environment.
The platform itself is still in development, and the team has yet to announce its first public land sale for the initial “Mars” universe.”
“The community behind decentralized stablecoin platform MakerDAO is mulling over a major tokenomics shift that could replace its governance token, Maker (MKR).
The proposed solution is a new stkMKR token which would replace MKR as the core governance token of MakerDAO. It would act as a staking or bonding token issued to those who have deposited MKR for governance purposes.
The staking proposal addresses some issues and inefficiencies with the current tokenomics model, which operates a “buyback and burn” mechanism. There is also a “weak crypto narrative,” according to monet-supply, who said that MKR issuance could be put toward improving the protocol. The current system also has limited deterrence against governance attacks or voting manipulation.”