The cryptocurrency market has been fluctuating the past few weeks, with Bitcoin reaching an all-time high on Nov. 8th and cryptocurrencies hitting a low point for November 9th. However, it is important to keep in mind that this volatility is not necessarily bad news – there are many opportunities in these fluctuations if you know where to look.;
Some interesting stories about the cryptocurrency market.Bitcoin’s price has been a roller coaster of emotions. It started with a large dip on November 9th, then it went up to $7,000 before going down again. Read more in detail here: bitcoin price news.
The rate of inflation in Ethereum is now lower than in the United States.
(CoinMetrics): The most recent Ethereum update permitted ETH to be burnt (or taken out of circulation), and the good news is that more ETH is being burned, resulting in a net yearly inflation of 1%. Takeaway for investors: Your ETH is still vulnerable to inflation, although at a lesser rate than the US dollar.
$MASK Token Could Be Issued by MetaMask
(The Defiant): While nothing has been verified, ConsenSys CEO Joe Lubin teased that MetaMask would release its own coin. Takeaway for investors: If and when the MetaMask browser wallet releases, consider downloading and utilizing it in the hopes of receiving an airdop of $MASK.
Humanity inspires me.
(Bankless): This is a work that should be shared. It’s a hopeful, forward-thinking look at what cryptocurrency may accomplish for our world and species. Takeaway for investors: This might be the most exciting period of your life.
Ethereum’s net annual inflation rate is presently 1%, significantly below the 5.4 percent average in the United States (source). Consider putting some money into ETH. (Credit: CoinMetrics)
We used to wonder how widespread adoption would work in reality. Today, we can easily see it.
The new Ethereum Name Service governance token ENS, which went live today and has a market value of more than $500 million and a fully diluted valuation of $4.8 trillion, close to four times the size of bitcoin, is the talk of the metaverse today.
In a novel attempt to decentralize control of the service itself, the airdrop was communicated early this morning to everyone who utilized the service to park a.ETH domain.
Token holders will have the opportunity to vote on the proposed constitution during the next week, which will specify the regulations that will be utilized to oversee the community.
They will be securing their rights as members of the community and proprietors of the immutable web by participating. The token distribution is broken out in this diagram.
“There are no tokens allotted for investors, since there are none,” says one of the most intriguing parts of this structure.
The Ethereum Foundation provided funds for the platform’s entire development. Those of you aware with the SEC’s adoption barriers will know that if there are no investors, the Howey Test does not apply, and no government body can argue that ENS should be classified as a security.
This is an excellent illustration of how technology advances at light speed.
We discover methods to construct stronger, more resilient systems despite all apparent impediments.
The massive influx of people
In hindsight, we can see how they were likely planning to decentralize from the start, but many incumbent web 2 behemoths are also planning to decentralize.
Twitter announced intentions earlier this year to move its operations to a more decentralized system dubbed bluesky.
This occurred more recently.
The headlines in this instance hardly do credit to the magnitude of the issue. To begin with, the 500 million number does not include new Reddit members. They’re referring to the fact that they’ll be onboarding their 500 million active members into the Ethereum blockchain.
For the last several months, the social media behemoth has been experimenting with a cryptocurrency dubbed Moons, in which users who earned karma points by uploading content on the network were rewarded with ERC-20 tokens. Moons are exclusively accessible to members of the subreddit r/Cryptocurrency.
It’s evident that the pilot is succeeding, and the encryption system is now being implemented over the whole network.
Those of you who have spent time on Reddit know that there are a plethora of awards that people may bestow on one another, and the tokenization possibilities are endless.
But Rahul, who represents himself on Twitter as a Reddit Crypto engineer, was even hinting at the possibility of forking communities using the blockchain, which is a particular raw area for those who have ever seen their community split in two.
This is frequently a messy process, but it may now be made more systematic.
Regrettably, Rahul’s Twitter thread was mysteriously erased. We’ve also yet to hear from any official Reddit spokespersons, leaving us to worry what lies next.
Wizard of the Web 3
With bitcoin and ether hitting new all-time highs, crypto-related news from Apple Inc. CEO Tim Cook, Mastercard Inc., and even Zimbabwe all came out on the same day.
We also have a discovery for you, one that is a little more serious but has a lot of transforming power.
With this, we’d want to convey our best wishes to crypto magician Oz Sultan in his battle against terrorism, and we fully support his Sol Shaman endeavor.
It’s beneficial to be well-informed.
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The “bitcoin news twitter” is a website that posts the latest breaking news about cryptocurrency. The site posts stories on their Twitter account every day.
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