Coming every Saturday, Huddler’s Digest Will help you keep track of every important news that happens this week. Best (and Worst) Quotes, Acceptance and Control Highlights, Leading Currencies, Predictions and much more – one week at Cointelegraph in one link.
This week’s top news
Indian crypto exchange CoinSwitch Kuber collects $ 260M
Indian crypto exchange CoinSwitch Kuber has closed $ 260 million Series C funding this week to add নিজেকে 1.91 billion to the prestigious Unicorn Club.
The fund round was led by Coinbase Ventures and Andreessen Horowitz, the latter of which has emerged as a leading crypto venture capital firm. After a valuation of 1.91 billion, CoinSwitch Kuber is said to be the most valuable crypto firm in India.
Speaking of funding, Sky Mavis, developer of the hugely popular NFT game Axie Infinity, announced a $ 152 million Series B funding round on Tuesday. Surprisingly, Andreessen Horowitz supported the participation from FTX as well as the funding scholarship.
Ethereum Fractal from 2017 which will result in 7,000% profit for ETH reappearing in 2021
The same set of bullish indicators sent by Ether (ETHThe 7,000% increase in 2017 reappeared in 2021, suggesting that the wealth is on its way to the moon before Dougcoin (Dogs).
Since 2017 the Fractal Indicator consists of at least four technical patterns that were helpful for price increases, including Relative Strength Index (RSI), Stochastic RSI, Bullish Hammer and Fibonacci Retracement Level.
At the time of writing, the price of ether is 3, 3,600, which indicates that the price could reach 13 13,000 if history repeats itself.
The Federal High Court of Nigeria has approved the eNaira CBDC rollout
Nigeria’s Federal High Court has approved the launch of e-Naira Central Bank Digital Currency (CBDC).
The CBDC was launched for beta testing on October 1 to celebrate the country’s 61st Independence Day and has now been given the green light to campaign alongside its Fiat rivals. CBDC is being considered as a faster, cheaper and more secure option for transactions. It will be supported by an eNaira wallet.
The official e-Naira website says a digital version of the Nigerian Naira will be made public, stating that “anyone can hold it.”
Judge rejects bid by XRP Hoodlers to join SEC against Ripple case as defendant
The ongoing legal dispute between Ripple Labs and the United States Securities and Exchange Commission (SEC) has taken another turn as U.S. District Judge Analisa Torres ruled Monday that individuals with XRP tokens cannot act as defendants in Ripple’s ongoing lawsuit.
The verdict came after several aspiring XRP holders submitted a “friend of the court” summary, which, if approved, would enable them to take part in a bloody battle as defendants, making XRP a SEC claim against security.
The judge said the verdict was for their own good, as it would force the trigger-happy SEC to take action against XRP holders as well. However, it was determined that they could participate as an “amicus curiae” – a party that is not involved in the lawsuit but allows the court to provide advice or information.
Bitcoin returns to $ 1T assets as the BTC price explodes at 55K
Bitcoin (BTC) His অবস্থা 1 trillion asset status returned this week as prices exceeded 55,000.
It appears that the damage caused by China’s mining embargo in May has been cleared, suggesting that new all-time highs could be reached in the coming weeks or months. At the time of writing, BTC is priced at $ 54,900 and 14.9% below the all-time high.
“Honestly, I think we’ll see the power on Bitcoin.”
“USDT pairs will be fine on altcoins, but we will probably be able to make some 6-8 week corrections to those BTC pairs before the new party starts. December / January is often the best time to buy Alts. ”
Winners and losers
At the end of the week, there’s Bitcoin $ 54,176, At Ether $ 3,612 And in XRP $ 1.07. The total market cap is 30 2.30 trillion, According to At CoinMarketCap.
Among the top 100 cryptocurrencies, the top three Altcoin recipients of the week are Shiva INU (Shiva) 244.87%, Phantom (FTM) 74.68% and Axis Infinity (AXS) At 47.02%.
Losing the top three Altcoins of the week is iCash (XEC) -10.20%, hubby token (HT) -8.70% and at Amp (AMP) At -6.85%.
For more information on crypto pricing, be sure to read Cointelegraph’s market analysis.
The most memorable quote
“Policymakers should implement global standards for crypto resources and increase their ability to monitor crypto ecosystems by addressing data gaps. […] Emerging markets facing cryptocurrency risks need to strengthen macroeconomic policies and consider the benefits of the central bank’s issuance of digital currency.
International Monetary Fund
“For us, digital resources are not about paying every month. They are a new computing paradigm – a programmable computer that is owned by millions of people everywhere and to everyone and worldwide.”
Bank of America Securities
“We did a survey on our membership, and it was very impressive: 110 countries are at any stage looking at the CBDC.”
Crystalina Georgieva, Managing director of the International Monetary Fund
“It’s such a crazy idea, that we as a country accept so many bright, young, talented people to replace our reserve currency. […] I wish all this passion and energy that went into crypto was directed towards strengthening the United States.
Why Griffin, Founder of Citadel LLC
“If you’re an investor, the best way to look at it is, either you believe in decentralized money and centralized financing, and you believe in Bitcoin and Etherium and blockchain, or you don’t. If you don’t, stay in gold as a hedge and if you But click on it.
Kevin O’Leary, Shark tank Judge
“I’m not going to get a token, but I think the securities laws are pretty clear – if you’re raising money. […] And the investing public […] There is a reasonable expectation of profit based on the efforts of others, which is in line with securities law.
Gary Gensler, Chairman of the US Securities and Exchange Commission
“Congress will determine the need to publish my bill with Women’s Ross when the ransom is paid and let us know how much money cybercriminals are taking from American entities to finance criminal organizations – and help us follow them.”
Elizabeth Warren, US Senator
“Bitcoin’s $ 50,000 resistance point has been seen to turn into crypto support value at 4Q since May.”
Mike McGlon, Bloomberg senior product strategist
Forecast of the week
BTC Bull Run ‘Must Go At Least Months’ – 5 Things To See In Bitcoin This Week
Bitcoin broke $ 50,000 this week and moved above 55 55,000. Although the price moved upwards in early September, Bitcoin has been on a downward trend for most of the month. Price action for BTC has put upward pressure on the ward so far for October, but time will tell how the rest of the month goes.
On a larger scale, in a tweet on October 2, stock-to-flow model creator Planby revealed the possibility that there are still a few months of upward moves to run the current bitcoin bull. “My guess: this second leg of the bull market will go at least another month,” Planby tweeted, posting a BTC stock-to-flow model.
Many other factors are also relevant for determining Bitcoin’s outlook, including asset hash rate estimates and technical index analysis.
FUD of the week
‘Evolved Apps’ NFT Creator Alleged Fugitive With 2.7 Million
Holders of the evolving apps NFT Avatar project were confused this week because a developer went awry and swiped 798 ETH, valued at about 2. 2.9 million.
The anonymous developer who went by the pseudonym “Evil App” is said to have dashed all the funds generated from the initial minting of 10,000 tokenized apps, with sales profits in the secondary market.
In addition to allegations of theft of the 798 ETH, the Evil App has also shut down the project’s website and Twitter account. There was also a blockchain-based fighting game that was promised by the creators of the project, and while the outlook is deadly, the community is running a recovery initiative called “Fight Back Apps”.
Billionaire Ken Griffin Condemns Crypto as ‘Jihadi Call’ Against Greenback
Hedge fund manager Ken Griffin was the source of some mixed FUDs this week as he called crypto against the US dollar a “jihadi call.”
Griffin, founder of the billion-dollar hedge fund Citadel LLC, said crypto was a “jihadist call that we don’t believe in dollars” because he targeted boring young people to spend so much time on digital assets.
He added: “I wish all the passion and energy that went into crypto was directed towards strengthening the United States.”
The founder of The Citadel, however, said his firm had not yet entered the crypto sector due to a “lack of regulatory certainty”, suggesting that he was more concerned about compliance than calling jihadists against the precious greenback.
Gensler confirms SEC will not ban crypto … but Congress can
SEC Chairman Gary Gensler said Tuesday that his agency has no power or intent to ban crypto, saying “it will depend on Congress.”
However, Gensler highlights that many crypto tokens fall under the SEC’s enforcement powers. He cites “financial stability problems” arising from a stable currency as a key area of focus for the agency.
“How do we get into this area in investor-consumer protection and work with bank regulators and others-how do we make sure the Treasury Department is in it for money laundering, tax compliance?” Gensler said.
Best Cointelegraph Features
Outside of Bitcoin: The future of digital assets is bigger than the first crypto
Although Bitcoin is the most recognized digital asset, it is one of the many here to develop financial services worldwide.
Finance in 2030: A future where DFI and CBDC can work together
With the coexistence of mutual benefits, decentralized money and the central bank’s digital currency will eventually make money globally.
What happens when banks break up: Iceland 200 2008 first
“Imagine if the money you have in your bank account now suddenly buys 1/10 of what you had? It happened in a week. ”