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MatchBoxDAO launches esports experience for Web3 developers

The tournament, “0xMonaco: Battle of Titans,” is scheduled to kick off on Jan. 29 and will bring together developers from around the blockchain space.

Data suggests Avalanche’s (AVAX) rally was a buy the rumor, sell the news event

Avalanche (AVAX) came into the spotlight early at the beginning of 2023 by adding its blockchain support to Amazon Web Services (AWS) cloud. However, empirical and on-chain analysis suggests that Avalanche’s price surge is likely due to a broader cryptocurrency market pump which will likely end with the rest of the market.

Is Avalanche’s Amazon news exaggerated?

While integration with the world’s largest blockchain service is a positive step for Avalanche, the hype around its implications might be exaggerated. The evidence lies in a similar move that Avalanche’s team made in December 2022.

Avalanche’s team established a deal with Alibaba’s Cloud toward the end of 2022. The Asia-based cloud service commands a 6% share of the sector globally. Nevertheless, the blockchain’s validator count has remained consistent, implying that not many users of Alibaba Cloud are willing to run an Avalanche node.

Avalanche validator count. Source: Avax.network

AWS earns revenue from users willing to use blockchain nodes, which is probably why it keeps adding support for various blockchains. Amazon has supported an Ethereum node since May 2021. The recent Amazon partnership announcement might mislead some investors.

Avalanche’s ecosystem development

Avalanche’s blockchain usage data is also not encouraging. The gas used on the blockchain subsided steeply after the May 2021 crypto market crash and it hasn’t recovered since. The total value locked in Avalanche’s DeFi ecosystem is near two-year lows of $885 million, ranking sixth in comparative liquidity of other chains.

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Bitcoin price corrected, but bulls are positioned to profit in Friday’s $580M BTC options expiry

Bitcoin (BTC) price has held above $20,700 for 4 days, fueling bulls' hope for another leg up to $23,000 or even $25,000. Behind the optimistic move was a decline in inflationary pressure, confirmed by the December 2022 wholesale prices for goods on Jan. 18. 

The United States producer price index, which measures final demand prices across hundreds of categories also declined 0.5% versus the previous month.

Eurozone inflation also came in at 9.2% year-on-year in December 2022, marking the second consecutive decline from October's 10.7% record high. A milder-than-expected winter reduced the risk of a gas shortages and softened energy prices, boosting analysts' hope of a "soft landing." According to analysts, a soft landing would avoid a deep recession and possibly convince central banks to curb their interest rate hikes.

This week's Jan. 20, $580 million BTC options expiry looks like an easy win for bulls because the surprise 7-day 23% rally above $21,000 caused most bearish bets to become worthless. The recent move has holders (or hodlers) calling a market bottom and the potential end to the bear market, but the options market might hold the answer.

Can Bitcoin options help bulls secure the $20,000 floor?

It might seem like distant reality right now, but Bitcoin was trading below $17,500 just 7 days ago. As the weekly options expiry on Jan. 20 approaches, the bullish bets are about to pay off, while bears will see their options becoming worthless as the deadline looms over them.

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Binance tightens rules on NFT listings

The exchange will delist NFTs with low trading volume and listed prior to new KYC rules starting February.

Bitcoin faces $15K crash as US sparks 'financial meltdown' — Arthur Hayes

In his latest blog post released on Jan. 19, Arthur Hayes, the former CEO of BitMEX exchange predicted a “global financial meltdown” thanks to future United States economic woes.

Hayes: Crypto will "get smoked" in Fed pivot

Bitcoin’s current rally should likely not be taken as the start of a new bull run.

That is the opinion of Arthur Hayes, who in a fresh treatise on U.S. macroeconomic policy this week warned that current Federal Reserve behavior would flip from restrictive to liberal, but cause cryptoassets to “get smoked.”

With U.S. inflation easing, the Fed is the focus of practically every crypto analyst this year as they estimate the likelihood of a policy “pivot” away from quantitative tightening (QT) and interest rate hikes to flat and then decreasing rates, and potentially even quantitative easing (QE).

This essentially involves a move away from draining the economy of liquidity to injecting it back in, and while that practice led to new all-time highs for Bitcoin beginning in 2020, the same phenomenon would not be plain sailing next time around, Hayes believes.

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How to prevent AI from ‘annihilating humanity’ using blockchain

When he’s not working on hastening humanity’s rush toward the Singularity by creating an artificial general intelligence (AGI), Ben Goertzel plays in a jazz-rock band called Jam Galaxy fronted by a robot named Desdemona.

It’s one of his many side projects, which naturally led him to try and tokenize the music business by reaching out to members of Pearl Jam and Heart. Goertzel is also working on longevity research by crowdsourcing human health data with token rewards via an app called Rejuve.ai. That information is then pooled with animal and insect study data and analyzed with an AI to determine which parts of the genomes can make us live longer and then stimulated using gene therapies. “We’ve had some quite striking breakthrough-level discoveries,” he says. Oh, and just before our hour-long interview winds up, he casually mentions as an aside that he’s also creating a stablecoin for his decentralized AI marketplace, Singularity.net, that’s pegged to a synthetic index of environmental progress — because pegging it to U.S. dollars would be “lame.” 

“Progress on the environment is very stable. It never goes anywhere,” he points out.

“And to manipulate this, you have to actually solve global warming.”

It’s the exact sort of political comment meets high-tech know-how you might expect from Goertzel, who looks and sounds like a hippie scientist who stumbled into a time machine in 1971 and emerged fully formed in 2023. But don’t be fooled by the animal print hat, long hair and Electric Kool-Aid acid trip drawl: He’s a brilliant scientist with a grasp of the future light years ahead of most and who’s grappling with some of the biggest concepts humanity has ever considered. What is consciousness? How do we create artificial life, and what happens if it doesn’t like us, goes rogue, and guns everybody down like in Terminator 2?

Ben Goertzel (left) and Jam Galaxy fronted by Desdemona the Robot (second left)
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Ava Labs and Amazon's partnership could “expand the pie” for blockchain

The collaboration will allow both individuals and institutions to launch subnets that can operate as self-sufficient blockchain systems.

What are hierarchical deterministic (HD) crypto wallets?

A hierarchical deterministic wallet uses a single seed to create an infinite number of addresses, allowing users to recover funds using a master key.

Expect better blockchain games in 2023, says Animoca Brands CEO

Animoca Brands CEO Robby Yung believes we will see many great blockchain games released during the first nine months of 2023 as developers begin to deliver after raising funds in 2022.

Bitcoin can pass $30K before setting new bear market low — forecast

Bitcoin (BTC) may gain another 50% before seeing a mass sell-off to complete its bear market, new research predicts.

In the latest edition of its regular markets newsletter, “The Crypto Circular,” trading firm QCP Capital delivered a grim warning to those who believe that crypto winter is over.

Research warns of "final Wave 5 selloff"

Bitcoin has surprised by retaining new support levels abruptly reclaimed in its week-long bull run, so far topping out at $21,650.

Despite widespread suspicion over the “choreographed” move, BTC/USD has nonetheless clawed back key trend lines and psychological price points.

For QCP, there is still plenty of fuel to send the pair higher, but that still does not mean that the bear market overall is done and dusted.

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Aussie 'Big 4' bank mints stablecoin for carbon trading and remittances

This marks the second "Big 4" bank in Australia to launch an Australian-dollar pegged stablecoin in a bid to boost the digital economy.

Ripple CEO: XRP lawsuit resolved by June, SEC conduct 'embarrassing'

Ripple CEO Brad Garlinghouse said the firm's XRP lawsuit could come to an end within "single-digit months."

ConsenSys slashes headcount 11% as chief economist reveals formula for adoption

ConsenSys CEO Joseph Lubin confirmed the company would be cutting 96 of its staff to focus its resources on its core businesses.

Ethereum price rally under question after ETH slams into resistance at $1.6K

Ethereum (ETH) price is struggling to overcome resistance at $1,600 and this is the altcoin’s third attempt since September 2022. Some would say the 33% year-to-date rally could be interpreted as a failed opportunity to breach the $200 billion market capitalization mark. 

Ether/USD price index, 2-day. Source: TradingView

If Ethereum price were to break above $1,600, it would return Ether to a top-60 global tradable asset, surpassing giant multinational companies like Nike (NKE), Novartis (NVS), Cisco (CSCO) and Toyota (TM).

Unfortunately, at least for bullish traders, derivatives markets are not hinting that Ether will finally break the $1,600 resistance — at least, not until the U.S. Federal Reserve reverses its course of tightening the economy.

Bulls' frustrations can partially be explained by Silvergate Bank's $1 billion net loss in the latest quarter. The crypto-friendly bank laid off roughly 40% of its workforce on Jan. 5 and it now faces a class-action lawsuit over its FTX and Alameda Research dealings. The suit alleges that Silvergate aided and abetted FTX's fraudulent activities and the exchanges' breaches of fiduciary duty.

The negative newsflow continued on Jan. 17, as Japan's deputy director-general of the Financial Services Agency's Strategy Development and Management Bureau, Mamoru Yanase, argued that the crypto sector should face the same regulation as traditional banks and brokerages.

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Binance registers as virtual asset service provider in Poland

In compliance with new regulatory requirements, Polish users will have to sign new terms and conditions with Binance Poland in order to continue using the company’s services.

Bitcoin and Ethereum correct amid Bitzlato takedown, tech layoffs and economic worries

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Bitcoin (BTC) price and the wider crypto market corrected as news of coordinated “international cryptocurrency enforcement action” stirred up uncertainty among traders.

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Deal Box launches $125M blockchain and Web 3 venture fund

The firm previously specialized in tokenizing equity and bond issuance for startups.

Crypto Mason’s death threats from maxis: Hall of Flame

Name: Mason Versluis — aka “Crypto Mason”

Anonymous: No

Twitter followers: 146.2K

Known for:  Garnering over 1 million followers on social media before he could legally drink in the United States

Who is this guy anyway?

Mason Versluis may only be 22 years old, but he’s already a full-time crypto influencer thanks to his wise old father introducing him to the world of XRP and Ripple before his 17th birthday.


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