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Gate.io Weekly Newsletter: Bug Bounty Announcement, Facebook to be called META, and Tesla to Reaccept Cryptocurrencies
Gate.io Weekly Newsletter: Bug Bounty Announcement, Facebook to be called META, and Tesla to Reaccept Cryptocurrencies
29 October 17:48
Gate.io Weekly Newsletter | Market trends? Global headlines? We got you covered.
TL;DR? Listen on the Go!
Updated Weekly on Buzzsprout, Spotify, Stitcher, and Soundcloud.
Gate.io Bug Bounty!
Help us find out where to improve!
Most of us prefer to use our phones, that's why to improve the mobile experience, Gate.io has announced a prize giveaway for volunteers to submit their finds.
If you upload a screenshot or a short video describing the details of your finds, you will receive a single reward of up to $100 in tokens, and the rewards can be stacked without limit.
Fill out the form now and give us your valuable opinions. We will treat the problems or suggestions uploaded by users seriously and optimize and improve the app.
Cryptocurrency Markets
This week, the cryptocurrency market showed a trend of oscillation before rising, with the bitcoin price hovering around the $60,000 mark. On the 26th and 27th, the bitcoin price fell below the $60,000 mark for two consecutive days. Then on the 28th, the bitcoin price was back above $60,000.
After this adjustment, bitcoin price is once again back in the middle of the Bollinger band, having stabilized on the 20-day SMA for once.
Looking at the bitcoin chart, the bitcoin price has ended the current round of surging trend in two cycles and entered a shocking upward trend. The bitcoin ROC indicator fell significantly after the 21st, once again confirming that the upward price impact of this round is starting to weaken. On the 26th, the MACD indicator showed a dead cross pattern, and the current round of trend increment process can be temporarily drawn to a close.
As for other tokens, Ether continues to maintain a similar price movement trajectory as bitcoin. The decline in Ether is significantly weaker than bitcoin, although the price increase is higher than bitcoin. Looking at the MACD indicator, Ether has not formed a dead cross structure and is still in the holding phase, and Ether prices still have room to rise.
This week, the two most talked-about tokens were undoubtedly SHIBA and Dogecoin, with the former up by up to 60% in a single day and the latter also seeing gradual upward movement.
Currently, the price of dogecoin has risen by more than 20% in a single day, with the price surpassing $0.294.
Crypto News
Facebook changed its name to "META"
Facebook announced on Thursday that it will change its name to "META". The company said the stock symbol will also change to "MVRS" from December 1st.
In a letter sent out on Thursday, the Facebook CEO wrote, "We hope that over the next decade, the Meta Universe will reach one billion people, host hundreds of billions of dollars in digital commerce, and support the work of millions of creators and developers."
Zuckerberg predicted that elements of the metaverse could become mainstream within 5 to 10 years.
Buterin said NFT needs more time to understand its true value
On October 26, the 7th Blockchain Global Summit was held in Shanghai, and Vitalik Buterin, the founder of Ether, said that NFT is very valuable and he gave the creators a new business model.
But he reminded the public that people should not assume that NFT is economically sustainable in its current form and that NFT needs to experience multiple winters.
NEAR Launches $800 Million Fund to Focus on DeFi Sector
NEAR announced the launch of an $800 million eco-development endowment program, of which $250 million in eco-funds will be allocated over four years; $100 million will be used for regional funds; and $100 million will be dedicated to startups, with DeFi being the focus of the program.
News in the Financial Market
Tesla plans to restart crypto payments
Electric car manufacturing giant Tesla may soon look to restore support for crypto payments.
In its quarterly filing with the SEC in September, Tesla stated it believes in the long-term potential of digital assets as an investment and cash alternative, and it may restart the practice of cryptocurrency transactions in the future.
Wharton accepts BTC, ETH for tuition
The Wharton School of the University of Pennsylvania is launching a blockchain executive education program and is accepting students to pay with cryptocurrencies.
Citigroup CEO: Digital assets will become part of the financial market
Citigroup CEO Jane Fraser recently said that digital assets will become part of the future of financial services and financial markets. Instant payments are all accessible, they will become more global and ubiquitous, (they) will appear shortly, and digital currencies may be part of the future.
Global Headlines
Nigeria Officially Launches National Digital Currency
On October 25, Nigeria's President Muhammadu Buhari announced the launch of CBDC e-Naira at the Abu California Parliament building. CBN Governor Godwin Emefiele said that e-Naira will be used as a wallet where customers can hold funds in their bank accounts.
El Salvador Buys 420 Bitcoins Again
El Salvador's government has purchased an additional 420 bitcoins, bringing the country's total bitcoin purchases to date to 1,120. At current prices, the new bitcoin purchases are worth about $24.7 million.
India won't ban cryptocurrencies altogether
On Oct. 27, a legal framework to regulate and govern India's cryptocurrency investment market could come out in February next year.
Indian finance ministry officials said the government may choose to regulate cryptocurrencies as an asset class, similar in some ways to commodities.
Gate.io Weekly Blogs:
Author: Byron.B & Charles. F (Gate.io Researchers)
* The article only represents the researcher’s views and does not constitute any investment advice.
* Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all other cases, legal action will be taken due to copyright infringement.
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