Crypto News Ethereum

Blue Chip NFTs 101: The World Of Women Collection, Including And Conquering

The World Of Women NFT collection has great marketing, strong leadership, and first-mover advantage. Plus, a flourishing community. Also, behind the punks and the apes, these ladies seem to have the biggest celebrity support. From World of Women’s partner Reese Witherspoon to Eva Longoria, to Bryce Dallas Howard; from Snoop Dogg to Gary Vee, everyone wants to be a part of the club.  Launched in July 2021, the WoW digital collectibles are technically ERC-721 tokens. The collection lives in the Ethereum blockchain, and its high-quality images are hosted on IPFS. Like most successful NFT collections, the images aim at becoming profile pictures or PFPs. The World Of Women consists of 10,000 unique algorithmically generated pieces. The collection’s main artist is Yam Karkai. Among other things, World Of Women holders get immediate intellectual property rights over the piece they own. And they can download a high-resolution version with ease to use it as they please. They become automatic voting members of DAWOW, the DAO that controls the World Of Women community. And they’re part of a club that each month receives “ArtDrops,” free NFTs from interesting artists from around the world directly into their inbox. Plus, they also get members-only discounts, raffles, pre-sales, and mint passes.  So, utility is strong in this NFT collection. The main reward, though, is being part of an organization that’s a net positive for women and inclusion worldwide. So far, World Of Women has donated over $250K from the collection’s royalties to women-centric charities all over the world. They even have their own nonprofit, Too Young to Wed’s “mission is to empower girls and end child marriage globally.” World Of Women also commits a percentage of their royalties to buy 1/1 NFTs from women-centric artists. Recent World Of Women Projects According to World Of Women’s About Us, this is the organization’s vision: “WoW’s vision is to build an inclusive web3 through its collection and community. According to research published in Nov. 2021, female artists accounted for just 5% of all NFT art sales in the prior 21 months. WoW is on a mission to change this.” The original World Of Women collection is only available on the secondary market, the floor price at OpenSea is 4 ETH and the collection has a total transaction volume of 70.8 ETH. Recently, the organization sold out its second collection, World Of Women Galaxy. Holders of the originals got a free mint and retail customers could mint them for 0.3 ETH. The idea was to lower the entry price to get new people into the community. Currently, the secondary market values the WoWGalaxy collection at a 0.47 ETH floor price at OpenSea. So, the entry price is still low. Related Reading | Blue Chip NFTs 101 – How Did Moonbirds Conquer The World In A Bearish Market? More recently, in March this year, World Of Women announced a partnership with the Sandbox metaverse. Both organizations launched the WoW Foundation with the objective of promoting diversity both in the NFT world and the metaverse. WoW & WoWG holders, if you’re interested in hosting meet-ups in your city but don’t know where to start – tag me on our discord! let’s do more of these 🤩 upcoming meet-ups –#WoWToronto : june 4th @nft_leen #WoWNYC : june 7th @mebynetta rsvp in meet-up threads!!! 👋 — kashvi 🦉 (@kashviETH) May 29, 2022 The organization has also created derivative pieces, like the Mother Earth Muse collection. For these limited-edition NFTs, they gave eight photographers the task of recreating some of the classic original WoW pieces. With actresses, in the real world. All of the profits from this endeavor went to the artists, the WoW community, and charity organizations. ETH price chart for 07/01/2022 on Poloniex | Source: ETH/USD on TradingView.com WoW As Art Collectors The WoWFund curates the collection, places bids, and acquires. The fund announces all of its moves through the organization’s Twitter feed. The funding comes from 15% of the primary sale royalties. The WoWFund’s focus is 1/1 NFTs, as opposed to generative art collections like World of Women.  Welcome to the @worldofwomennft Museum! ♀ A breathtaking shrine that will highlight the work collected by the WoW Fund, which aims to bring visibility to outstanding artists in the #Web3 space. Created by @nabiya_creative. Discover more! ⤵️https://t.co/w55FEwKjSZ pic.twitter.com/B8WCpc7kzo — The Sandbox (@TheSandboxGame) June 27, 2022 The organization recently unveiled the World of Women Museum in the metaverse. The Sandbox described it as “a breathtaking shrine that will highlight the work collected by the WoW Fund, which aims to bring visibility to outstanding artists in the Web3 space.” 🖼 WoWFund June curation 🖼 We placed a bid on "Veiled Beauty" by @wafudraws, an artist from India 🇮🇳 “Paying homage to the Kishangarh school of arts, the signature graceful features, including arched eyebrows, lotus-like elongated eyes and pointed chin have been maintained.” pic.twitter.com/nc8Nud8Uj5 — World of Women (@worldofwomennft) June 29, 2022 World Of Women ’s Real-World Impact The organization is committed to bringing more women into DeFi and Web3. Reportedly, World of Women will create an academy geared toward educating women and guiding them through this wild-wild world. The academy will focus on minority and underrepresented groups.  Besides that, the organization recently held a meetup in meatspace, more specifically in Los Angeles. The event was such a success, that WoW’s community manager tweeted: “WoW & WoWG holders, if you’re interested in hosting meet-ups in your city but don’t know where to start – tag me on our discord! let’s do more of these.” And announced a meetup in NY and another in Toronto. Huge thanks to @nft_leen and @NiSangria for organizing the first (and hopefully more) #WOWToronto meet up! Great atmosphere and amazing commity. @worldofwomennft pic.twitter.com/4b2Yf1iUcR — Sal (@i_amSamm) June 5, 2022 Last but not least, World Of Women recently closed its participation in the NFT NYC conference with a performance by no other than Madonna. What an honour to host #WoWFinallyEnoughLove, a celebration of Pride, on the closing night of NFT NYC with queen @madonna! 💜✨ Thank you WoW family for being a part of this journey, we hope you had the experience of a lifetime 🌈 pic.twitter.com/iHAo63R1hV — World of Women (@worldofwomennft) June 28, 2022 On the left there, Yam Karkai, WoW’s main artist. Oh, and speaking about celebrities… What Does Reese Witherspoon Have To Do With It? The actress’ production company, Hello Sunshine, signed “a storytelling partnership” with World of Women. The idea is to create “entertainment properties” based on their IP and produce a “live event” in conjunction with other women-centric NFT projects. Variety quotes Reese Witherspoon detailing the plans: Related Reading | Blue Chip NFTs 101 – Let’s Travel To Space With The Doodles Collection “We’re proud to partner with WoW to expand their universe of characters and to develop innovative scripted and unscripted content. We look forward to engaging with the remarkable WoW community at every step of this partnership and creating opportunities for WoW holders to work collaboratively with Hello Sunshine on transforming the WoW art into powerful stories.” Will something come out of it? Will the public react favorably to it? Hollywood is a harsh mistress, nothing is guaranteed. If Reese and World of Women succeed, though, it could translate into big things for this collection’s holders. The WoW story is just beginning. Featured Image: Screenshot from WoW’s website| Charts by TradingView

Bitcoin Crypto News

Bitcoin Sees Worst Quarter In 11 Years

The leading cryptocurrency in the world, Bitcoin (BTC), saw its worst quarter-over-quarter drop in 11 years. According to data from CoinGecko, BTC has lost over 57.43% in the second quarter of 2022. Additionally, by selling below $19,000 on the final day of Q2, Bitcoin had its most significant quarterly loss in more than a decade. The current state of the Bitcoin market is not good. The position was favorable even at the end of Q1 when it was approaching close to $50,000. But after that, things became more complex, and the price kept dropping. Related Reading | TA: Ethereum Trims Gains, Why ETH Remains At Risk Below $1,100 From $45,524 at the beginning of the year, bitcoin slid to a low of $17,593.2 on June 18. It recorded its worst-performing quarter as a result of its persistently negative price moves, which have seen it drop below $20,000 several times in June. According to CoinGecko data, BTC dropped by 38% over the month of June and is currently trading at $19,447.62. Since its launch in January 2009, the price of bitcoin has been on an up-and-down Ferris wheel. Like Q2 2021, the second quarter of 2022 will be referred to as the “Bloodiest Quarter In Crypto. Quarter 2 of last year lost more than 40% of its value.  Concerns About Risks Due To Market’s Downturn Situation After the news that the Federal Reserve is preparing to reduce liquidity in the financial markets, Bitcoin fell precipitously and the downturn continued. Investors avoided riskier assets because of rising inflation and interest rates. As a result, the market lost huge profits.  Throughout the quarter, several significant problems have surfaced. For example, Celsius; recently, the firm decided to halt all account withdrawals, raising concerns that the business would soon go bankrupt. Cryptocurrency exchange CoinFlex also stopped customer withdrawals on June 23, due to the harsh market conditions. CEO of CoinFlex, Mark Lamb stated: Due to extreme market conditions last week & continued uncertainty involving a counterparty, today we are announcing that we are pausing all withdrawals. Moreover, on the other hand, regulators have become ever more concerned about cryptocurrencies’ hazards. Everyone is terrified due to the recent failure of TerraUSD (UST) and the issues experienced by crypto lenders, including Celsius. In order to address the possible threat that crypto-assets can bring to the financial system, the European Systemic Risk Board (ESRB) urged urgent regulation to solve the situation.  Related Reading | Avalanche Might Continue Its Downtrend As Price Slips To $16  In a report on June 30, the EU stated: While potential systemic implications stemming from these market segments currently seem limited, systemic risks could materialise quickly and suddenly. Europe is not the only one. There are 103 countries listed in November 2021 whose governments urged their financial regulatory agencies to set legislation and policies for financial institutions concerning cryptocurrency. Including France, Germany, Japan, Mexico, and many others.   Featured image from Flickr, chart from Tradingview.com

Crypto News

Mark Cuban Claims Bear Market Will End After Crypto-Apps Become Handy

The declining crypto market has raised lots of concerns among investors. Through several analyses, this prevailing price fall seems to be the worst in history. The crisis keeps raging with numerous losses recorded and more panic sell-off from traders. As a result, many people present ideas that could yield solutions to the situation. One of the trending reports is the statement of billionaire entrepreneur Mark Cuban concerning the bear market. Cuban, popularly known as the top investor in Shark Tank, a reality TV show, believes in the role of applications. He mentioned that proper focus on applications with utility is the solution. Related Reading | Extreme Fear Remains: Recapping What’s Behind The Crypto Market Panic The billionaire is convinced that applications with utility would create a turnaround in the prevailing market stance. Currently, most of the applications are geared toward collectibles and financial technology. But in Cuban’s opinion, the market needs a different spark that business-focused apps could bring. Cuban cited an instance with the decentralized brand of QuickBooks. According to him, such an accounting management software that is business based created a difference. Hence, he argued that a similar projection in the crypto market would lift the bearish trend. The Bankless Podcast episode on June 23 featured Cuban. While answering the question on the lasting period for the crypto bear market, the billionaire stated it would continue till the emergence of a catalyst. According to Cuban, that catalyst has to be an application; otherwise, prices would get even lower. In his past statement, Cuban had kept up to 80% of his non-Shark Tank funds in cryptocurrency. Cuban Said Crypto Market Is Still Not Cheap In Cuban’s opinion, the crypto market is yet to reach its low price. This contradicts most of the predictions for BTC and other crypto tokens. Many analysts have already concluded that digital assets have reached the bottom line. Cuban x-rays the high market cap for most crypto protocols while stating they are still not cheap. To him, having market caps worth billions of dollars is not cheap. He mentioned that during DeFi Summer, most protocols recorded market caps within the cycles of hundreds of millions of dollars. Related Reading | Mining Operators Fret As Bitcoin Looses Ground, What Lies Ahead For The Mining Community Also, their token prices were just around a few pennies. But he still complained about the lack of utility even with low market caps. In further explanation, Cuban anticipates a robust crypto industry through mergers of blockchains and protocols. To him, it’s a great consolidating move that could occur in any industry. When it comes to making a choice based on his optimism in different tokens, Cuban went for carbon offset DeFi tokens. According to him, it’s a measure to offset his carbon footprint when he burns them. Featured image from BBC, chart from TradingView.com

Crypto News

Web3 Wallets Realize the Frontier Exploration of On-chain Addresses

An Ethereum address is a complex 42-bit string starting with 0x. As the most basic part of the crypto infrastructure, addresses are the carriers of users’ assets, rights, and on-chain interactions. We often see people name their Twitter starting with 0x to indicate their identity as a blockchain player, which demonstrates the importance and representativeness of addresses to users on the chain. As the necessity for users to step into the on-chain world, there are more than 200 million unique addresses on the Ethereum chain alone. Over the past year, there have been an average of about 500,000 active addresses interacting on-chain every day. Users often use mainstream wallet products such as Metamask to manage addresses. However, the increasing Web3 protocols have opened rich usage scenarios for users, and also stimulated many users’ demands yet to be met, such as address co-management, private key recovery, address privacy and so on. On-chain developers are also actively proposing various innovative solutions based on these demands. In this article, people will learn about the ambitions of infrastructure developers to improve the security and usability of address management through the examples of Gnosis Safe and Argent Wallet. By looking into Blank Wallet, a project focusing on private transactions, and A3S Protocol, a pioneer in “transferable addresses”, having a glimpse of how the “careerists” bring revolutionary changes to this entrance-level field of the Web3 world. 1.   Dreamers who pursue security and usability 1.1 Security: A Multi-Signature Management Scheme for Addresses Gnosis Safe represents the multi-signature wallet solution in the context of implementing secure co-management of addresses. The multi-signature function simply means that the user needs to set up several owners or devices, and the transaction must be approved by a minimum number of roles before it can be carried out. Based on this, Gnosis Safe also provides users with more rights management functions, such as batch transactions and custom modules for authorization under certain conditions including social recovery modules and allowance modules. 1.2 Usability: mnemonic-free management of addresses In terms of usability, a representative project is Argent, featuring “no private key” and “no mnemonic”, thereby greatly reducing the user’s threshold. Argent allows users to set up several other accounts or devices as Guardians, to facilitate the recovery of accounts and assets through Guardian’s verification if the device is replaced or the address is stolen. The wallet owner can also grant the “keeper” several permissions, including locking and unlocking accounts, triggering account recovery procedures, and approving large transactions. At the same time, Argent also gives away 1 ENS domain per user, which allows users to convert a long list of complex addresses starting with 0x into easier-to-remember “URLs” ending with “.eth” to further improve the user experience. 2.   Strong Anonymity, Subversive SBT Careerist 2.1 Privacy: Privacy Protection for Addresses As a public ledger, users’ privacy is one of the weaknesses of Blockchains. When users try to conduct private transactions, they often need to go through a currency mixer such as Tornado Cash. Under the ambition of pursuing privacy and emphasizing anonymity, Blank is an address management protocol designed for private transactions. It adopts the method of currency mixing and zero-knowledge proof to realize private transactions. Specifically, whenever a user transfers funds, Blank will generate a password for the transaction and mix the funds, which will also become the proof of the payments sent; when a user accepts the transfer, Blank will create a brand-new address to receive the funds; also, the transaction will be mixed with Blank’s internal fund pool to conceal user’s financial information. Blank can provide users with wallet applications and be incorporated into other wallets and DeFi projects as extensions. 2.2 Liquidity: Control separation and transferability of addresses Due to the nature of the private key, the ownership of addresses can only be shared but is difficult to be transferred as it’s almost impossible to ensure one has completely forgotten or discarded its private key. A3S Protocol, trying to separate the control of the address from itself, endows the address with liquidity. Users discovered this pioneering idea from the much-anticipated Grants Round 14 of Gitcoin (GR14). The relevant information remains to be limited as people try to understand the project developer’s “ambition”. A3S Protocol is not a wallet and no longer uses private key signatures to control addresses. It is a protocol that uses NFT as the “controller” of the addresses. In simple terms, the protocol allows users to mint an address controlled by an NFT, and transfer control of the address through the circulation of the NFT. A3S Protocol also discards mnemonics, replacing the abstract mnemonics and private keys with more concrete NFTs. Just like a real key, whoever holds the “key” has control of the address. Due to the non-fungible nature of NFT, the “key” is also unique and there are no concerns of being copied. In addition, this “key” being an NFT can be easily adapted to the existing NFT infrastructure. According to the project conception, after such NFT-Gated Addresses open up the address liquidity, there will be more potential user demands being fulfilled in many ways: OTC transaction of non-transferable on-chain assets and interests: for example, non-transferable assets such as veCRV in the Curve protocol, or NFT whitelist qualification attached to addresses, can be transferred directly by transferring addresses. Temporary escrow of addresses: temporarily entrust others to operate your address, such as automatic investment, P2E on Gamefi, etc. After the end of the escrow period, the control of the address will be fully recovered through the return of NFT, and the continuation of the interaction record can be maintained. Addresses being the new collectibles: trading addresses of celebrities, such as auctioning addresses used by Elon Musk, Stephen Curry, Jay-Z, etc. Basic services on-chain: When users occasionally need a large number of addresses to interact with protocols, users can simply buy or rent the addresses with gas in bulk, thus eliminating the tedious and expensive operation of transferring small assets in and out. In other words, A3S Protocol realizes the capitalization of addresses and provides a new possibility for value transfer. Just like domain names, addresses can become the new subject matter for collectibles and leases, or become a unique on-chain service. At the same time, the “restrictions” and “privileges” for addresses will therefore no longer be exclusive. Although A3S has not yet launched its product, if the design of the project can be implemented, it might become the No. 1 public enemy of the anti-Sybil attack, SBT, and NFT communities. Conclusion With the development of the crypto market and Web 3, users have growing diversified needs for address management. The value of addresses has become increasingly prominent, and addresses are more than something that can be discarded carelessly. How to manage the “first stop” in the crypto journey and uncover more value embedded in addresses will certainly become the focus of more and more projects. Developers are continuing to design revolutionary solutions in the process as we keep paying attention to the progress and updates of address-related projects and sharing our research.

Crypto News Ethereum

Ethereum Keeps Sliding Down, Will The Support Line of $1,100 Break?

Ethereum continued on a bearish path as the coin has now found support level at $1,100. Over the last two days the coin surged and touched the $1,200 mark but shortly after that, it witnessed a pullback on the chart. Ethereum’s strong resistance currently stood at $1,300. The technical perspective of the coin has also remained bearish. Over the last 24 hours, ETH lost 9% of its value and invalidated most gains it secured in the past one week. After the bulls could not manage to move past the $1,300 price ceiling, the coin has slipped down. ETH has depicted a consolidated price range with price of the asset sandwiched between $1,280 and $1,110, respectively. If Ethereum doesn’t rise and break past the $1,300, price could dip and fall below the $1,000 mark. Buying strength also faded as price of the coin kept falling on the chart. The global cryptocurrency market cap today is at $937 Billion with a fall of 5.5% in the last 24 hours. Ethereum Price Analysis: One Day Chart ETH was trading for $1,111 at the time of writing. Immediate support for the coin stood at $1,000, but if ETH starts to fall then the coin can trade at the $900 price level. Immediate overhead resistance stood at $1,200 and then at $1,300. The last time the altcoin hovered around this price region was in the month of January 2021. If Ethereum falls to $900, it would mark a new low for the coin in the year 2022. If price of the altcoin manages to jump to $1,300 and trades above that level for significantly long, then rally to $1,700 could be possible. Volume of Ethereum traded fell on the 24 hour chart which meant that buying strength decreased. The trading volume bar was red indicating bearishness. Technical Analysis ETH was oversold over the last 48 hours, but the coin recovered and moved above the oversold zone. Despite this recovery Ethereum’s buying pressure remained extremely low on the chart. The Relative Strength Index noted a downtick and was nearing the oversold mark again. Consistent downfall in demand can bring Ethereum to touch the $900 level over the next trading sessions. On the 20-SMA, the coin was seen below the 20-SMA line. A reading below the 20-SMA line means that the sellers were driving the price momentum in the market. Related Reading | Why Ethereum Could Trade At $500 If These Conditions Are Met ETH noted a fall in buying strength despite that the coin flashed buy signal son the one day chart. Moving Average Convergence Divergence depicts the price momentum. It displayed a bullish crossover and flashed green signal bars which are buy signals for the coin. The current price level could potentially turn into a demand zone for the king altcoin. Chaikin Money Flow demonstrated capital inflows and outflows on the chart. CMF was below the the half-line which meant that capital inflows were lesser than capital outflows signifying bearishness. Suggested Reading | Ethereum Needs To Breach This Level To Sustain Bullish Pace Featured image UnSplash, chart from TradingView.com

Altcoins

Ripple Launches Innovation Challenge for CBDC Solutions on the XRP Ledger

Ripple is launching an innovation challenge aiming to promote the development of XRP Ledger (XRPL) apps for central bank digital currencies (CBDCs). According to the contest page, entrants can submit projects to three categories: interoperability, retail-facing, and financial inclusion. According to the contest rules, interoperability projects should involve solutions that help CBDCs bridge with other […]

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Crypto News Ethereum

Why Ethereum Could Trade At $500 If These Conditions Are Met

Ethereum has returned to the red as it was rejected as a major area of resistance. The cryptocurrency is bleeding out and records the second-worst performance in the crypto top 10 by market capitalization with a 10% loss in the last 24 hours. Solana (SOL) holds the number one position with a 13% loss. Related Reading | TA: Ethereum Topside Bias Vulnerable If It Continues To Struggle Below $1.2K The general sentiment in the market seems to be at an all-time low, but there is room for it to enter into a capitulation state, according to Daniel Cheung, Co-Founder at Pangea Fund Management. ETH’s price could succumb to macroeconomic conditions. Cheung claims the second crypto by market cap is correlated with traditional equities, in particular with the Nasdaq 100 via the Invesco QQQ Exchange Traded Fund (ETF). In that sense, the crypto market has become susceptible to stock price movement making it “a market regime where it is all just one big Macro trade”. The analysis claims that Ethereum could see a 40% drop from its current levels as the Nasdaq 100 has “a lot of room to fall”. This index has only experienced a 30% crash, and historically it has dropped by as much as 45%. The potential upcoming crash in the Nasdaq 100 (tech stocks), and in Ethereum as a consequence, will be driven by a poor earnings season, Cheung believes. This is one of the conditions that could force ETH’s price to break below $1,000 and into $500 for the first time since 2020. The analysis claims that the traditional market is misreading the U.S. Federal Reserve (Fed). The institution is attempting to slow down inflation, currently at a 40-year-old high as measured by the Consumer Price Index (CPI), by increasing interest rates and unloading its balance sheet into the market. Will Ethereum Follow U.S. Stocks To The Downside? The objective is to reduce consumer demand, and reduce prices across global markets, in hopes that this will bring down inflation. Market participants seem to be underestimating the Fed, and thus could be unprepared for the consequences, Cheung argues: (…) there will likely be more iterations of lower earnings revisions that follow over the coming months especially given this is a market regime that very few investors have experienced This will bring equities lower and crypto to follow with it more downside to come. In fact, the analysis argues that the U.S. could already be in an economic recession. This could bolster the Fed to put more pressure on the market, having an even worse impact on Ethereum and other cryptocurrencies. Related Reading | Bankman-Fried Is Looking At “Secretly insolvent” Small Exchanges & Crypto Miners This could be confirmed today with the report on GDP growth to be posted by U.S. financial entities. If this report spells economic slowdown, adding more downside pressure and further impacting companies’ earnings season, Cheung claims while adding: If the GDP print + CPI print + FOMC commentary all play out according to plan – we will likely be at a triple digit $ETH price once again. However, the land mine that investors would have to overcome would still not be over as 2Q22 company earnings would be just on the horizon.