Welcome to the 74th edition of ‘The Digital Asset Digest’. Today, we discuss if Bitcoin could be the solution to inflation and talk about the 3 ways that its mining sector has changed.
SNIPPETS
Whales Moving Coins Hints At Bitcoin Maturity As Macro Asset
Source: NewsBTC
“Data shows large transactions are rising in dominance as whales are moving their coins. This hints at Bitcoin’s increased maturation as a macro asset.”
Dogecoin May Break Out with $0.43 in Target Range
Source: CryptoBriefing
“Dogecoin is the latest meme coin that looks poised to resume its uptrend. Both technical and on-chain metrics suggest that DOGE could possibly enter a new bull run in the short-term.”
JPMorgan CEO: Bitcoin Is Going to Be Regulated, ‘Whether You Like It or Not’
Source: CryptoPotato
“According to JPM’s Jamie Dimon, Bitcoin has no “intrinsic value,” and the US watchdogs need to regulate it soon.“
Bitcoin price is back at $50K, but exactly how ‘bullish’ are the bulls?
Source: CoinTelegraph
“BTC’s futures markets premium and options risk gauge show that there are not any signs of excessive leverage or FOMO from traders — yet.“
Bank of America Digital Asset Research Team Debuts its First Report
Source: BeInCrypto
“BoA officially launched its digital asset research project and released its first report on the subject.“
TOP GAINERS
TOP LOSERS
INDUSTRY WIDE SNAPSHOT
MARKET BREAKDOWN
Inflation is At Record Levels: Is Bitcoin the Hedge?
Across the world, the cost of living is rapidly rising this year. After a year of excessive government stimulus measures and the release of pent-up demand this year, inflation has soared. In an effort to preserve wealth some have turned to digital assets like Bitcoin. But can this digital asset really protect against inflation? Here’s a closer look.
EXPLORING NEW IDEAS
3 Ways the Bitcoin Mining Sector has Changed Forever
Bitcoin mining has come a long way over the past decade. Initially, anyone with a cursor knowledge of how blockchain technology works and a relatively mediocre laptop could mine BTC. Once Bitcoin became more popular and valuable, all the low-hanging fruit was gone.
Now, Bitcoin mining is dominated by multinational corporations and mining pools worth hundreds of billions of dollars. The industry has professionalized and that has permanently altered the economics of digital assets. Here are three ways Bitcoin mining has changed in recent years and what that means for users and developers across the ecosystem.
TOKEN OF THE WEEK
Cardano
Cardano is a blockchain project that offers a platform for developing decentralized applications. It bills itself as the first to be founded on peer-reviewed research and developed through evidence-based methods. Consequently, it leverages pioneering technologies to offer unparalleled security and sustainability on decentralized applications (dApps).
A brainchild of Ethereum co-founder Charles Hoskinson, Cardano was launched in 2015. The platform is named after Gerolamo Cardano, a renowned Italian polymath, proficient in biology, physics, chemistry, and astrology.
THIS WEEK’S DEEP READ
Bitcoin (BTC) Wave Count Analysis
Source: BeInCrypto
“The Bitcoin (BTC) has completed an A-B-C corrective structure after breaking out from a descending parallel channel.“
2 weeks ago, our final report in the series on Metaverse implementations came out. This 15+ page report on Upland is available to download, so give it a read before our State of the Metaverse Report comes out.
