Inside the Crypto Dimension - Wednesday 31st of August 2022
Vitalik Buterin to releasing a book 📖 | 40% web3 gamers are bots 🤖 | ₿ Bitcoin barely hanging on | Ethereum to face a huge correction 📉
The week has continued slowly. The cryptos are staying in the low digits (as has been the story for some time now) and the news do not seem to have a whole lot to change that. Some bad future predictions are being made around the web, which should not surprise anyone.
From trading perspective, the crypto winter seems to continue. Wednesday stays on the red. Bitcoin is keeping a steady 20 000 USD and ETH is fluctuating between 1500 and 1600 USD. Just try to hang on even though the cold breeze is still blowing in the crypto world 🥶.
Not much more to mention about the prices. So, let’s dive into the news. Keep on scrolling! 👇
Midweek News and Events from the World of Cryptos
Ethereum Founder Vitalik Buterin Releases a Book called Proof of Stake (website)
Vitalik Buterin, the founder of Ethereum is releasing a book called “Proof of Stake” on September 27th. The book consists of essays writen by Buterin before and during the rise of Ethereum. The book was announced by a Tweet on Tuesday. You can already preorder the book from the website.
Roughly 40% of All Web3 Gamers are Bots (8 min read)
The founder of an anti-bot protection software released a report on bots in games and services. The report shows that web3 player base consists of 40% bots. And that’s not all! All services with profit are flooded with bots, even decentralized exchanges and their referral programs have caused a flood of bots. Check out the Twitter thread for a full read.
Bitcoin Barely Hanging On (8 min read)
Glassnode Insights writes that Bitcoin does not seem to have short-term growth ahead. The markets have been really tough and many fundamentals are against Bitcoin. The amount of active users does not seem to grow and network is seeing only really small transactions. Many investors seem to lean towards the “just get my money back” -attitude, causing a negative sell spree. Glassnode even mentions that if this trend continues, Bitcoin could hit a rock bottom that has not been seen in many years.
Crypto Analyst Says Ethereum (ETH) About To Witness Huge Correction As Fed Stays Hawkish (5 min read)
Crypto Analyst Benjamin Cowen says that Ethereum is about to see a big correction in the coming months. This is due to the US Federal Reserve hinting of a tighter money policy. The article flashes a bottom of 600-800 USD for Ethereum over the next year or so. This sounds rather different from what people are expecting from Ethereum, especially as The Merge is closing near.