Survey Highlights Divided Opinions on NFT Market Outlook
According to a recent survey by CoinGecko, published on August 18, 2024, sentiments around the recovery of the NFT market are mixed. Around 54% of respondents are doubtful that NFTs will bounce back during the current market cycle. Of these, 29.5% are certain that NFTs won’t recover, while 24.7% remain pessimistic.
Meanwhile, 26.4% of those surveyed take a neutral position, unsure of the market's direction. Only 19.4% of participants still hold out hope for a revival of NFTs in this cycle. Interestingly, builders and market observers are more optimistic about a potential recovery, with 28.9% and 29.1% respectively believing in a rebound. In contrast, only 17.1% of investors and 20.9% of traders share this positive outlook.
Dubai has officially approved the use of Bitcoin and other cryptocurrencies for salary payments, as reported by Odaily.
This groundbreaking decision marks a major shift in the region's approach to digital currencies, potentially accelerating the adoption of cryptocurrencies in everyday financial transactions.
With this move, employers and employees in Dubai will gain unprecedented flexibility in how salaries are paid, embracing innovation in the financial sector.
As Dubai continues to establish itself as a global leader in technology and finance, this development underscores its dedication to adopting cutting-edge financial solutions. The implications of this decision could be far-reaching, influencing how other regions approach digital currencies in the future.
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Bitcoin (BTC) has recently seen a sharp decline, emphasizing increased market volatility and negative economic factors. Now trading at $51,633.31, Bitcoin has dropped by 13.26% in the last 24 hours, intensifying a broader downtrend over recent weeks. It briefly hit $49,000 on major exchanges like Binance, marking a significant fall from its peak of over $70,000 just a week ago. The recent price drop saw a significant increase in trading volume, up by 184.51% to $77.88 billion. This surge during a price decline suggests panic selling, with investors rapidly selling their assets in response to falling prices and negative market sentiment. The market capitalization has also dropped by 13.34%, now standing at $1.04 trillion, reflecting a sharp decline in investor confidence. Technical Indicators Show Bearish Sentiment
Bitcoin’s present resistance area lies between $64,500-63,000 coinciding with the 50-day and 100-day exponential moving averages (EMA). However, if the price drops below $63,500, it could trigger another wave of sell-offs, potentially pushing Bitcoin below $50,000. Key Factors Behind the Crypto Sell-Off Geo-Political Tensions Rising global conflicts are hurting investor confidence, destabilizing the cryptocurrency market. Recession Fears Concerns about a potential economic downturn are causing investors to sell off assets, including cryptocurrencies. The Sahm Rule Recession Indicator has passed 0.50, often signaling the start of a recession in the U.S. Yen Unwind The Bank of Japan’s recent interest rate hike from 0% to 0.25% is causing instability. Higher rates make it costlier to maintain investments funded by cheap yen, leading to fewer funds for crypto investments. Mt. Gox Distributions As former creditors receive their Mt. Gox payouts, some are selling their Bitcoin, increasing supply and pushing prices down.
FAQ
Q1: What caused the recent crypto market dump? A1: Geopolitical tensions, recession fears, the Bank of Japan's interest rate hike, and Mt. Gox Bitcoin distributions. Q2: How do geopolitical tensions impact the crypto market? A2: They decrease investor confidence, leading to sell-offs. Q3: Why are recession fears affecting crypto prices? A3: Economic downturn concerns make investors cautious and sell off assets. Q4: What effect did the Bank of Japan's rate hike have? A4: Increased the cost of leveraged investments, reducing funds for crypto. Q5: How are Mt. Gox distributions influencing the market? A5: Former creditors selling their Bitcoin increases supply, pushing prices down. Q6: Could Bitcoin drop to $20,000? A6: It's possible if key support levels are breached, triggering more sell-offs. Q7: What should investors do during a market downturn? A7: Stay informed, consider risk tolerance, and follow a long-term strategy. Q8: How to stay updated on crypto market news? A8: Follow reliable news sources, market forums, newsletters, and social media channels. #MarketDownturn #RecessionOrDip? #BTCMarketPanic
Farm $AEVO by staking BNB or FDUSD starting March 8th.
️ Listing on Binance on March 13th.
Don't miss out on this opportunity! #AEVO #BinanceLaunchpool #DeFi $BNB $FDUSD
LIVE
Crypto Eagles
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AEVO - BINANCE 48th Project on Binance Launchpool
@Binance is the world's most popular exchange, with the best performance in each product and category. With the successful launch of the recent Launchpool project, BINANCE Launchpad is ready for another big project. Its AEVO (a decentralised L2 derivatives Exchange) What’s AEVO? Crypto is all about decentralisation. Half of the crypto community loves CEX, and half of the community loves DEX. What if we told you that AEVO brought decentralised Trading With CEX-Like Performance! 🫡 Trade Options, Perps and Strategies all in one place. Aevo supports options, perpetual futures, and many other products within a single margin account. Combining off-chain matching with on-chain settlement, the platform allows traders to have unparalleled performance and latency.
How AEVO is better? Custom L2 Solution: Aevo is built on a custom L2 based on the OP stack, enabling high throughput and performance while inheriting the security of Ethereum. One Stop Shop for Traders: Everything a trader needs is available on AEVO Exchange either it is trade options, perpetual trading, yield or structured product in a single place. That’s crazy. Experienced Team: The Aevo team originally from well established companies such as Coinbase, Kraken and Goldman Sachs, and institutions such as Stanford, MIT and Cornell. Binance Launchpool: There are hundreds of products with good tech and utilities in crypto market but most them don’t have enough fortune to be selected in Binance Launchpool. Now AEVO has another edge of Binance Launchpool #AEVOLAUNCHPOOL Community Interest: Its common in crypto if anyone has good community interest in beginning then there is good opportunities for project to stand tall in crypto market. Since its inception in 2020, $AEVO has processed over $10 billion of options trading volume and built up a reputation for trust and security.
Milestones of AEVO: Total Volume Traded >$10b Current Open Interest >$50m Aevo Transactions per Second >5k tps Aevo Exchange Latency <10ms Token info: Token Name: AEVO ($AEVO) Max Token Supply: 1,000,000,000 AEVO Launchpool Token Rewards: 45,000,000 AEVO (4.5% of max token supply) Initial Circulating Supply: 110,000,000 AEVO (11% of max token supply) Smart Contract Details: Ethereum Staking Terms: KYC required Hourly Hard Cap per User: 30,000 AEVO in BNB pool 7,500 AEVO in FDUSD pool Prediction of $AEVO: Projects with strong utilities and good revenue model always lead market even in bear markets. $AEVO has good utility, perfect revenue model and target audience of above millions so we can predict $AEVO is here for long term. In my opinions, it is reliable and sustainable project and I want to thanks #BINANCE for bringing good projects for us. BTW #DYOR🟢. and its not #NFA
Farming Period: 2024-03-08 00:00 (UTC) to 2024-03-12 23:59 (UTC) You can Farm directly here https://s.binance.com/3uyHjAhK #BINANCE #AEVOLAUNCHPOOL #BinanceLaunchpad
Earlier, the Binance Launchpool project, launched on Binance Launchpool, Pixels (PIXEL), gained significant popularity and emerged as the most traded cryptocurrency among the recently launched tokens on the exchange platform.Are you ready to climb on the next Binance Launchpool, I am sure it will gain significant popularity.WHAT IS AEVO?So, AEVO - a decentralized derivatives exchange program opts to shine above other exchanges. Now, you can have decentralized trading With CEX-Like performance!IMPORTANT NOTEYou guys can farm AEVO by staking BNB or FDUSD. And, you’ll be able to stake FDUSD & BNB in separate pools to farm AEVO! Farming starts on the 8th of March!LAUNCHPOOL DETAILSThe AEVO will listed on BINANCE on March 13th. This announcement has caused significant anticipation among traders who are eagerly waiting to leverage their skills and expertise to trade the token.With a massive 1,000,000,000 AEVO supply, it has tied the trader's confidence to invest in this token!Traders could stake 30,000 AEVO tokens in the BNB pool, while 7,500 AEVO tokens FDUSD pool within one hour.ARE YOU READY FOR HUGE GAINS WITH AEVO?#TrendingTopic #Aevo #Launchpool #ETH
The Green Side of Crypto: Sustainable Practices in Blockchain Spotlight the industry's efforts to adopt environmentally friendly practices, including the development of eco-friendly blockchain networks and the promotion of sustainability within the crypto community. Address concerns about the environmental impact of certain proof-of-work blockchains.
Privacy Coins: Balancing Anonymity and Legitimacy Examine privacy-focused cryptocurrencies like Monero and Zcash, discussing their enhanced privacy features and the ongoing debate about their legitimacy and potential regulatory challenges. #TrendingTopic #BTC #binance- #BinanceSquare
Staking and Yield Farming: Earning Passive Income in Crypto Explore the concepts of staking and yield farming, where users contribute their crypto assets to secure and validate blockchain networks, earning rewards in return. Understand the risks and rewards associated with these practices. #TrendingTopic #BTC #BinanceSquare
Crypto Regulations: Navigating the Legal Landscape Navigate the evolving regulatory environment surrounding cryptocurrencies globally. Understand the challenges and opportunities it presents for users, businesses, and the broader crypto industry
Crypto Regulations: Navigating the Legal Landscape Navigate the evolving regulatory environment surrounding cryptocurrencies globally. Understand the challenges and opportunities it presents for users, businesses, and the broader crypto industry #TrendingTopic #BTC #Portal
Altcoins on the Rise: Exploring Beyond Bitcoin Distinguish various alternative cryptocurrencies beyond Bitcoin, discussing their unique features, use cases, and why they have gained popularity in the diverse landscape of digital assets.
Ethereum 2.0: The Next Chapter in Smart Contracts Investigate the enhancements brought by Ethereum 2.0, including its transition to a more energy-efficient proof-of-stake consensus mechanism. Learn how it aims to improve scalability and sustainability. #TrendingTopic #BTC #Arweave
NFTs: Unlocking the World of Digital Collectibles Explore the booming market of Non-Fungible Tokens (NFTs), unique digital assets stored on the blockchain. Understand their role in revolutionizing the ownership and distribution of digital content.#TrendingTopic #BTC #Portal
DeFi Boom: The Rise of Decentralized Finance Examine the transformative impact of DeFi, a decentralized financial ecosystem that operates outside traditional banking structures. Learn about lending, borrowing, and trading without intermediaries.#TrendingTopic #BTC #Portal #Arweave
Crypto Investment Strategies: Navigating the Volatility Delve into various strategies for navigating the volatile crypto market, including long-term investment approaches, day trading tactics, and risk management techniques.
Decoding Blockchain: Unraveling the Tech Behind Modern Crypto Explore the foundational technology of blockchain, which ensures secure, transparent, and tamper-resistant transactions. Understand how it's the key innovation behind modern cryptocurrencies like Bitcoin and Ethereum. #TrendingTopic #BTC #Portal