PRViously on Crypto: BTC, ETH, & ADA on a Roll as the World Marches Towards the Future of Finance!
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It’s that time of the week where we roundup the hottest news on crypto! With the announcement of PrivacyGames first ever installation Hack The Vault, PRV’s week was definitely a headliner.
However, there are still bigger headlines that created big impacts on this week’s cryptoverse dynamics. We have the new “Big Three” to keep tabs on and several countries who are on the march towards the new era of finance decentralization.
All of this and more on this week’s PRViously on Crypto!
Three Coins, One Future
If you’ve been an avid crypto news follower, or was religiously checking out our weekly updates, you would know that Bitcoin, Ethereum, and Cardano have been dominating the cryptonews landscape for the past couple of weeks.
Aside from the usual marketwatch for their prices, these three coins are pumping up the gas on developments, collaborations, and other utility launches. (Just like PrivacySwap’s lined-up utility features!)
Before we take a look at each coin’s updates, let’s see what crypto strategist Michaël van de Poppe has expressed his in-depth analysis of these three:
- he sees Bitcoin rallying as it takes out its immediate resistance at $42,000
- he predicts that Ethereum will correct against Bitcoin (ETH/BTC) before printing a bullish higher-low setup
- lastly, Van de Poppe expects ADA to form a bullish structure similar to the consolidation phase it experienced during March, April and May of this year, which drove the crypto asset to local highs against Bitcoin.
Do you concur with these predictions? Here’s some recent developments on the Big Three to help you decide!
Ethereum’s fork goes live
This week’s highlight on the Ethereum blockchain was its London Hard Fork and EIP-1559. It was teased on Monday to lower gas fees and boost ETH price.
More specifically, EIP-1559 introduces ‘rent control’ on gas fees, and periodic token burning to limit the available supply of ether creating pricing pressure.
Upon its arrival last Thursday, it immediately amped ETH’s price to 3.9% in about 24 hours!
In summary, the London Fork was to fix several issues on the blockchain by destroying or “burning” ether coins and by revising the way transaction fees work so that a layer of predictability is added.
How would this change the entire dynamics of Ethereum? It is still too early to tell!
Next up is the king of crypto.
Bitcoin hits an all time high in 3 months
Popular on-chain analyst Willy Woo has forecasted BTC’s price could explode higher. According to the guru, a combination of multiple indicators on the BTC blockchain could continue the benchmark cryptocurrency’s price rally further into 2021.
He predicted a range of $50,000–$65,000. Couple this with van de Poppe’s analysis and you’ve got two experts vouching for Bitcoin’s unstoppable rally. Is there some truth to this?
Well, just today, Bitcoin hit an astonishing price of $45,000! This is the coin’s first time since Mid-May!
Doing the math, this price means that BTC has now recovered more than 57% from its local bottom of $28,621 which was recorded last July 22.
See, we know what we are talking about when we said PRV’s bearish season is bound to end as well!
BTC’s price is projected to be bullish as Binance intends to bring Bitcoin payments to Shopify by partnering with Alchemy Pay and software technology firm, Arcadier.
This collaboration is set to enable peer-to-peer (P2P) crypto payments at over 2 million global merchants through its payments application Binance Pay. Transacting with 40 supported cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) in 18 countries would now be possible!
Finally, to complete the Big Three updates, we have the rising star, Cardano.
Cardano’s timelines are “holding strong”
Just this Sunday, EMURGO, a founding entity of Cardano, announced that it will be launching a new platform set to bridge interactions between Cardano users and other dApps on the blockchain network.
This is through the Yoroi dApp connector, whereby users will be allowed to purchase or sell tokens, ultimately facilitating the validation of ownership of specific assets and execution of transactions for the dApp.
As an update on the most-awaited Alonzo upgrade, Cardano founder Charles Hoskinson says that the timelines- August, September are “holding strong”.
On Wednesday, $ADA reached another milestone as it was finally approved for listing on a Japanese crypto exchange. This was no easy feat as few crypto assets are only approved on this listing, including Bitcoin and Ethereum.
Japanese crypto exchange BITPoint announced on its website on the same day that $ADA is scheduled to be listed on its platform in late August.
In other news, various countries are on the move as they implement and adapt strategies in their march towards the age of decentralized finance.
Let’s take a look at some!
International advances towards the future of finance
For starters, there had been a digital transformation law proposal authored by a group of Spanish legislators that would change Spain’s view on crypto. If approved, the law would allow mortgage payments to be paid with cryptocurrencies!
Uruguay has somewhat the same legislative development as senator Juan Sartori introduced a bill seeking to “establish a legitimate, legal and safe use in businesses related to the production and commercialization of virtual currencies.”
Likewise, a new bill in Ukraine is set to allow payments in cryptocurrencies like Bitcoin (BTC) despite not recognizing crypto as legal tender.
In Russia, where the legality of digital assets had remained in limbo, dawn breaks as the country’s largest bank was ordered to unblock the accounts of crypto traders. Analysts were quick to assume that this potentially signals a change in Russia’s regulatory stance on crypto.
And finally, records show that Africa’s appetite for digital currencies is growing significantly! In fact, a number of African countries are reported to be in the direction of launching their own virtual money, projected to be supported and issued by central banks.
Well that concludes our weekly crypto news roundup! Lots of exciting developments huh?
With all these new progress and paved direction towards the forthcoming era of digital-finance revolution, those who are open to the advancement of technology will reign supreme.
Therefore, it is best to start as early as now in your journey towards the future of finance! And with PrivacySwap, you are sure to be on the right track!
See you on the next episode of PRViously on Crypto!
