Bitcoin rate updated minimum for two years. This is the start of forming a “Bottom” ?

Bitcoin fell below $18 ths, other cryptocurrencies were also affected. Our Crypto-Upvotes experts pointed out reasons for market decline. And also told about its short-term prospects

In the evening of November 8 Bitcoin rate momentarily fell to a two-year low of $ 17.1 ths. As of November 9, Bitcoin cryptocurrency is trading at $ 17.2 ths, it has fallen in price by 10% over the past 24 hours.

Bitcoin price decline accelerated as the rate of cryptocurrency exchange token FTX (FTT) plummeted almost six-fold, from $19 to $3. Altcoin now trades at $4+ and shows a daily decline of 74%.

The FTT token collapse and the overall situation around the FTX crypto exchange caused the entire crypto market to fall. First, the FTX exchange lost liquidity and its own token price collapsed. And then Binance announced about buying this exchange.

Possible FTX and Binance deal attracted attention from regulators. As well as other reasons that helped Bitcoin collapse

FTX and Binance deal attracted regulators, raising antitrust concerns. Regulators have the power to block major mergers. If they fear it will limit market choice. And there are strict laws against anticompetitive behavior.

Among other factors in a declining market is the tension between China and Taiwan. Because China is a pretty big player in the crypto market. Taiwan makes chips for mining. So this factor is important and pressures cryptocurrency prices down.

Another reason, our expert called the U.S. Congress elections. At the moment, Republicans are expected to win the elections to House of Representatives.

Cryptocurrency market sympathizes, first of all, with the Democratic Party. At least by the volume of investments in their election campaign. Foreign representatives of the cryptoindustry are betting exactly on Democrats.

In addition, all these problems of crypto-industry coincided with the growth of stock indices and weakening of USD.

Crypto market at an early stage of formation of the “bottom” ?

Buyers could not take advantage of the moment to pass the level of $22.5 ths. While USD is under pressure, and stock indices are set to rise. Buyers have a chance to return Bitcoin price to $20 ths. Now we need to wait for volatility to decrease. And exchanges FTX and Binance clarified the situation and their further actions, said our expert.

Our expert added that the current situation, which now presses the crypto market, could be a culmination of decline. Because the current situation in crypto industry may be the initial stage of forming a “bottom”. Because for many market participants such prices are of interest to increase buying volume or to enter this market.

Now there should be a set of factors that will be able to raise the price up. Therefore now the L-shaped recovery, rather than a sharp reversal of a bearish trend is more probable. If the situation with China and Taiwan does not worsen. It is unlikely that anything else can hurt the market more than it already has.

 

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FTX has withdrawal problems amid conflict with Binance

FTX platform users have begun to report problems and delays with withdrawals from platform in Bitcoin and Stablecoin. Crypto-Upvotes excerpts explain what’s going on

Exchange responded with a message on Monday that slow Bitcoin withdrawals were caused by limited network traffic. And problems with stabelcoin transfers arose because banks were closed for the weekend. However, according to the FTX team, withdrawal rates are being restored.

Importantly, analysts at Nansen said on the morning of November 7. That over the past 24 hours FTX has received more than $257 million in USDC due to a noticeable outflow of deposits from FTX.

These funds were transferred from the firm Alameda Research. By that point, significant outflows from FTX’s Ethereum balance sheet had also been seen. It dropped from 493,000 ETH to 162,000 ETH. In total, more than $400 million in assets have been withdrawn from FTX in the last 24 hours.

Our experts explain what happened

Problems began against the backdrop of worsening situation in international cryptocurrency exchanges market. FTX head Sam Benkman-Fried said on October 27 that the exchange is working on the launch of its own Stablecoin. November 2, the media actively began to publish the results of the investigation, which conducted a team portal CoinDesk.

The investigation touched the exchange FTX and the trading firm Alameda Research. These two companies that are considered friendly for the reason that Sam Benkman-Fried owns 50% of FTX and 100% of Alameda Research. Journalists gained access to the second firm’s internal documents and found a large number of FTT tokens on Alameda’s balance sheet.

CoinDesk investigation and reaction from Binance CEO

According to the investigation, Alameda Research had $14.6 billion in assets as of June 30. Of that, $3.66 billion was “unlocked FTT tokens” and $2.15 billion was “FTT in collateral” or “collateralized tokens.” That’s the company’s largest asset and third-largest asset, respectively.

Experts have concluded that most of the net equity in Alameda Research’s business is its own centrally controlled token. Alameda Research said in response to the investigation that it didn’t reveal the full picture. And in fact, the company still has “more than $10 billion in assets.” That’s the amount CoinDesk didn’t mention.

However, the investigation still won – the head of Binance Changpeng Zhao said he would get rid of the FTT token. He recalled that as part of the FTX exit in 2021, Binance received approximately $2.1 billion in cash equivalent in BUSD and FTT tokens.

The head of Binance did not name the reason for the CoinDesk investigation. But he said he was making the decision because of “recent disclosures”. He promised that he would minimize the impact of the deal on the market and expressed his willingness to finalize it in a few months.

According to the head of Binance, the decision against a competitor in the form of FTX is not directed. Because it is important for Binance to maintain the sustainability of the emerging industry. In response, Alameda Research CEO Caroline Allison said she was ready to buy FTT from Binance at $22 per token.

Conclusions of our experts

Our experts suggest that the situation between Binance and FTX is related in part to Changpeng Zhao personal offense to Sam Benkman-Fried. Because Sam Benkman-Fried admitted recently that he is one of the main sponsors of Democratic forces in the U.S. elections.

The head of FTX, Sam Benkman-Fried, is accused of lobbying the U.S. authorities, something the head of Binance cannot do. His exchange often faces pressure and investigations from U.S. regulators. As well as accusations of misconduct for ignoring sanctions.

All this annoys Changpeng Zhao, so in retaliation, he wants to move significant liquidity in the market from one exchange to another. Specifically, from FTX to Binance. Selling FTT tokens after FTX exits may be the first step.

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P2E. Why have tokens from many Play and Earn projects depreciated and what’s next?

P2E gaming blockchain projects have lost popularity. But does this sphere have prospects for further development? Review by Crypto-Upvotes experts

Rapidly falling token value of most play-2-earn projects has also intensified criticism of these concepts. In addition to several scathing articles. Popular documentaries and stories about Web3-game addiction have also appeared online.

The price of Axie Infinity first-generation P2E project token lost more than 90% of its peak price. The asset was one of investors’ biggest disappointments last season. The situation was exacerbated by the fact that an instant sale of the asset on a breakout of important price levels was out of reach for many. This was due to participation in a 90- or 180-day fixed stack from Binance with “most attractive” conditions of over 100% per year.

Less capitalized p2e projects suffered more than AXS: Aurory (AURY) on Solana lost more than 95% of its peak price. And also SolChicks (CHICKS) also on Solana lost more than 98% of the peak. And the liquidity of this asset almost completely disappeared from all centralized and decentralized sites. Gods Unchained (GODS) on Ethereum fell in price by 97% from maximum. As well as Age of Gods (AOG) on Binance – by 96% of maximum values.

Is gaming addiction dangerous for P2E users?

“At first I was happy, but soon I began to feel weak and insomnia began to appear. That’s how Orias, a Filipino man who is the protagonist of a Time article, described his experience with Axie Infinity.

The story follows the stories of several Filipino families. Who tried to make ends meet with the help of extra income from P2E games. Particularly emphasizing the negative factors for the human psyche and pointing out the randomness factor in gaming, often leading to gaming addiction. However, the dramatic stories of many Filipinos hide the multifaceted nature of the issue and the lack of a comprehensive approach in the study of the phenomenon.

To speak of a specific P2E gambling addiction would be to get to know a large part of the community of gamers. Did they have a predisposition to other gaming addictions before their experience with the game, or was P2E gaming the original factor that formed the addiction? Even without mentioning P2E, new users when encountering the web3 sector. It can be tempting to solve their financial problems with platforms that promise quick prosperity. Cryptocasinos, sweepstakes, and pyramid schemes are very popular in web3.

At the same time, even with the complete “cleansing” of blockchain space from the dangerous sources listed above. New users prone to gambling addiction will be able to use neutral market instruments for unrealistic enrichment. So, for example, futures with high leverage (10X or more). Can be reasonably used by traders to hedge risks of long positions. The same tool can be used for absolutely game-like bets on the smallest rate movements.

Besides Time magazine other publications such as CoinGeek, Bangkokpost and others criticized P2E games.

From P2E to X2E what next?

Despite multiple drops in P2E-projects’ stock prices. As well as gamers’ exodus from existing projects and a wave of criticism in media. Gaming industry may still be at the very beginning of its upcoming boom. Summer and fall of 2022 saw a tremendous amount of investment in blockchain-related games projects. For example: $500 million to create a Web3 gaming venture fund from Immutable. As well as $200 million for blockchain game firm Limit Break. Or $100 million for Web3 game publisher Animoca Brands and many other deals.

Many developers and investors of this sector agree that the next billion users in Web3 will come exactly through gaming. This topic was actively discussed at the recent World Blockchain Summit in Dubai. Many gamers are already used to lifestyle and behavior close to Web3. This is exchange and trade of in-game items. And also improving the characteristics of your characters by buying exclusive clothing and accessories and collecting them. And joint attendance at major online events in game reality.

Together with the influx of new funds and developers in the sphere of Web3-games, to replace the concept of P2E came the acronym X2E. It means that users should not just play. But to do some action to get desired tokens.

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Cryptocurrency trading volumes are falling. Our Crypto-Upvotes experts have analyzed what is happening

Deal volume in cryptocurrency market has fallen to values of December 2020. Our experts have analyzed what is happening in this industry and told us when volumes will start to grow again

In October, trading volumes on cryptocurrency exchanges updated the minimum since December 2020. The amount of transactions on trading floors last month amounted to $543 billion compared to $733 billion in September.

Main reasons for volume fall

The main factors that influenced the decline in trading volumes include falling cryptocurrency prices. And, as a consequence, a decrease in interest in popular and hype assets, such as NFT and DeFi. As well as external factors, primarily risks of recession in western economies on back of tighter monetary policy. And geopolitical tensions that have increased this year.

At the same time, according to our Crypto-Upvotes expert, it is impossible to talk about a decline in interest in cryptocurrencies. Despite the decreased trading volumes of retail players and low interest in social networks and media space. Blockchain technology itself and crypto-projects are actively financed by funds and institutional investors.

Market has been in a sideways trend for 137 days (4.5 months), our finance expert recalled. When the price trades in a limited range for a long time, investors get nervous, he said.

“Statistically, markets are in a sideways trend more than 75% of the time. You have to live with that. Buyers’ activity remains low on the background of risk aversion.” – explained our specialist.

Is “Crypto Winter” in hot phase? What will happen to cryptocurrency trading volumes?

Low trading volumes indicate that the cryptocurrency market is in the “crypto winter” stage.

However, the current situation in the crypto market cannot be called “crypto winter”. Unlike a similar period in 2018-2019, both capitalization and number of participants are much higher now. And development of blockchain products has not stopped, despite falling prices for cryptocurrencies.

Volume of investment in industry from outside also indicates normality of current market situation. And the volatility on individual top assets is quite enough to make money even in current periods of time.

Trading volumes will grow as volatility rises and prices of major crypto assets move out of the ranges they have been in since this summer. Once market participants understand the direction of further movement. They will immediately connect to it, which will allow trading volumes to grow according to our Crypto-Upvotes experts.

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Central Bank of India Launches Digital Rupee Pilot Project

The new form of India’s national currency Rupee will be used for settlements in the secondary market of government securities. Nine of the country’s largest banks will take part in the tests. Review by Crypto-Upvotes experts

The Reserve Bank of India has launched a pilot project to use the digital rupee, the Business Standard newspaper writes. Nine of the country’s largest banks began settling transactions with government bonds in the secondary market using an additional form of national currency.

On the first day, $33.3 million worth of bonds were sold using digital rupee. Participating banks made 48 transactions with the Central Bank’s digital currency.

The digital national currency will also be tested for retail use. At the same time, authorities have stepped up their fight against cryptocurrencies. As a result of the new tax regime, the volume of local crypto-exchanges decreased.

“The digital rupee will provide users with the same digital currency experience without any of the risks associated with cryptocurrencies,” said the regulator in a statement.

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Launchpads and review of startup sites for crypto projects

Our experts Crypto-Upvotes tell us how blockchain startups plan to raise funding. And also which Launchpads are trustworthy and what new projects will soon be fundraising.

Launchpads or startup platforms for crypto projects allow startups to raise initial funding for development. And investors can choose an attractive instrument for investing their funds.

Fundraisers are mostly held in Initial Exchange Offerings (IEO) formats – initial exchange offerings. And also Initial DEX Offering (IDO) – crowdfunding on decentralized platforms.

With these methods, it’s not the project creators who are looking for investors. Launchpad selects promising startups and promotes them. Startup platforms carefully check the project and its creators before launching a token sale – a token sale. Often after fundraising is completed, the exchange opens trading in this cryptocurrency.

The IEO and IDO have several advantages over the outdated fundraising model, ICO (Initial Coin Offering), analogous to an IPO in the traditional market. In launchpads, many more people can get early access to assets. And it’s easier for developers to promote a project and list tokens.

Despite the general downturn in the cryptocurrency industry, new projects continue to emerge and attract funding. In this article, we’ll talk about some of the platforms that are raising funds for startups.

Binance Launchpad

Binance Launchpad is one of the most well-known, easy to use and convenient platforms. To work with it, you need to pass a basic identity verification.

Before launching the tokensale, the Binance team conducts a rigorous vetting of the project and publishes a report. It takes startups at a relatively mature stage of development, with a strong and committed team.

This Binance incubator has launched well-known crypto projects such as Stepn, Axie Infinity, BitTorrent, SafePal, metaverse The SandBox, soccer clubs Lazio Fan Token and FC Porto Fan Token.

A total of 64 projects were launched on the site, raising a total of $ 109.7 million. The last of them was STEPN, which completed fundraising in March of this year. Binance Launchpad has not announced another IEO at this time.

Polkastarter

Polkastarter is a DEX platform developed on the Polkadot blockchain. It is also compatible with Ethereum, BNB Chain, Solana and other networks. Launchpad allows startups to raise funds by selling tokens or NFTs in a decentralized environment. The platform has launched 108 projects and raised a total of $48.5 million in funds for them.

This summer, the platform held fundraisers for 3 projects: Metaverse Planet Mojo sold $364k worth of NFT, and blockchain games WOMBAT and DEFY raised $600k and $200k respectively.

There are plans to have a token sale of a game project from developers Gameloft, Blizzard and Ubisoft. Their game metaverse CryptoCitizen plans to raise $650k.

Duckstarter

Duckstarter is an IDO blockchain startup and fundraising platform managed by the DuckDAO community. The platform launches in early 2021. It adheres to KYC principles and accepts USDC stablecoins.

A total of 66 projects have been launched on the platform, raising $3.47 million. The most recently completed tokenseals were fundraisers for gaming startups Bot Planet for $23.7k. As well as Sugar Kingdom for $100k in March of this year.

The IDO of the GEMS project will begin in early October. Its name is made up of the initial letters of the words GameFi, ESport, Metaverse and Social Fi. Project developers are positioning it as an ecosystem GameFi. Which allows eSports gamers to learn and immerse themselves in different Metaverse and GameFi worlds.

BSCPad

BSCPad was launched in March 2021. It hosted IDOs of such projects as Revomon, GameZone, Qmall.exchange, PureFi and many others.
The platform uses a token distribution system of 6 levels for users. It is based on the number of coins they contributed: bronze, silver, gold, platinum, diamond and blue diamond. In order to participate in tokenseals, users must pass KYC. As well as to deposit a certain amount of BSCPad platform’s native tokens for stacking.

The platform has conducted more than 100 fundraising rounds. Currently there are plans to launch a fundraiser for Taunt Battleworld. It’s an NFT fighting game simulator with the ability to earn money from developers at Amazon. The description of the project says that the game is set in a post-apocalyptic world. In which the gods have turned Earth into their own personal playground called Battleworld

DAO Maker

DAO Maker conducts token sales and sales of NFT crypto projects on its DAO Pad platform. This platform supports Ethereum, Solana, Polygon and other blockchains. Initial token offerings are in SHO (Strong Holder Offering) format. In it, each user gets a level corresponding to their funds. The more funds are in the wallet, the higher the chances of getting new tokens.

The platform has raised funds for a large number of popular projects, such as Infinity Pad, My Neighbor Alice and Seascape Network.

The SHO of the DeRace NFT project is currently being finalized. It’s a Metaverse in which players breed horses to race, have races, complete missions and earn rewards. According to the developers, blockchain technology provides transparent race results.

DAO Maker plans to tokenize the Muon Network project. This is a supercomputer in the form of a decentralized cloud computing network. It will be able to run any application and software and connect to all publicly available blockchains.

Another project launching on the platform soon will be Engines of Fury. This is a fighting game with rich 3D graphics and single-player and multiplayer modes.

GameFi

GameFi is a launchpad for blockchain game projects. It hosts fundraisers in the format of Initial Game Offering (IGO) or Initial Game Offering. Its only difference from IDO is that tokensales are conducted by gaming startups. In addition to initial token offerings, Launchpad conducts Initial NFT Offering (INO).

The platform features two pools for fundraising: the IGO pool, which requires tokenization. And also Community pool, which does not involve stacking. GameFi complies with KYC requirements, and users need to be verified to participate in IGO and INO.

More than 60 projects have been launched on the platform, including X-Metaverse, GameStation, Metawars, and many others. Currently there is an initial NFT offering from the DVISION WORLD project. This is a Metaverse where users can create and sell their own NFTs.

Tokensales for three more game projects have also been announced on GameFi. This is a platform project for developing and controlling characters in the Codyfight universe. As well as fighting games Evermoon and Engine of Fury (the same project that will hold a tokensale on Maker DAO). Start dates for these IGO have not yet been determined.

Poolz

Poolz is a decentralized launchpad that supports multiple blockchains. More than 90 IDOs have been held on this platform. The biggest recent fundraisers were for the NFT spaceship game Space Sip ($1 million) and the RPG Kryptomon ($450,000).

Users need to own at least 250 POOLZ tokens ($345) to participate in tokenseals. Top 100 native coin owners get priority access to IDO.

There are 9 crypto projects scheduled to IDO on the platform in the near future. These include a token sale to raise $500k from Moverse, a Web3 fitness project from move-to-earn. Also IDO for $250k from MeMusic, a service for earning audio content producers. In addition, Launchpad will launch tokensales for several gaming projects, the cryptocurrency Tofycoin. As well as the decentralized television platform Script Network.

TrustPad

TrustPad is a decentralized launchpad. It gives priority access to the most promising projects to TPAD native token holders. TrustPad supports most of leading blockchains. Verification of users is not required for all IDOs held on the platform, but only for part of them.

There have been 116 projects token seals held on this platform. They raised a total of $21.6 million. Among them were fundraisers such startups as QANplatform, BitHotel and Blocktopia.

TrustPad will hold several tokenseals in the near future. Among them is Animalia. It’s an online NFT game with collectibles on the theme of cryptomems. And also Metaverse Lifetise, where users can plan and build their lives. From owning a home, starting a business and getting married, to retirement.

The site also plans to raise funds to develop the Mizar trading platform with a wide range of tools. Here, traders can choose different strategies to allocate their capital. Upcoming is the IDO of the game project Medieval Empires. This is a complex multiplayer online strategy game. And the action of which unfolds in the modern territory of Turkey in late 13th century.

Red Kite

Red Kite is a launchpad that has raised more than $9.3 million for 70 cryptoprojects. Tokensales are open to holders of the PKF platform’s native cryptocurrency. Just like GameFi, IDOs on this platform take place in two pools. One is available to everyone. The other is only available to members of the Red Kite community.

MetaBeat, an NFT music platform, was the last to hold fundraisers on this platform. As well as the game universe of farmers Monsterra Community and the project category move-to-earn PULMx.

In the near future, the platform will host the IDO of the blockchain game The Unfettered. It is an upcoming action role-playing video game. It is about a mysterious and warlike woman, chosen by Gods, who fights subterranean monsters.

 

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Hong Kong announces legalization of retail cryptocurrency transactions

Hong Kong authorities is preparing to cancel the current rule, which allows trading in digital currencies only to persons with a wealth of at least $1 million. Crypto-Upvotes Expert Review

Hong Kong authorities intend to legalize retail operations with cryptocurrencies. As well as with other digital assets and exchange investment funds working with cryptocurrency. The government is preparing to cancel the current rule. Which allows trading in digital currencies only to persons with a wealth of at least $1 million.

At the same time, the Securities and Futures Commission (SFC) of Hong Kong for the first time presented the criteria for obtaining a license for exchange-traded investment funds. Which work with ETFs on cryptocurrencies. At the first stage, they will be able to invest in Bitcoin and ETH futures. And in future the list of available instruments will be expanded.

Last fall, authorities announced its own digital currency (CBDC). Work on the CBDC project began in June 2021 as part of the “Fintech 2025” strategy. Which aims to modernize Hong Kong’s existing economic system.

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Where to invest money. Our experts have named several promising young potential cryptoprojects

Gaming coins, management tokens and other promising cryptoprojects with potential for growth in price.Review by Crypto-Upvotes experts

Every year a number of cryptocurrencies grows and it becomes difficult to determine which of the new coins can potentially bring profit. And which cryptoprojects should be treated with more skepticism. Our experts have named several promising tokens that have been released recently.

Apecoin (APE) 

One of the interesting novelties of 2022 is APE token. It was introduced by the developers of the acclaimed NFT collection Bored Ape Yacht Club (BAYC). The idea of the project is to use the new token as a manager in the ecosystem under development.

The BAYC developers plan to create a full-fledged meta universe for the owners of NFT collection monkeys. Apecoin will be used as a token to provide in-game transactions. And allowing you to take part in voting on the future of the project, says our expert.

Bored Ape collection almost immediately after the launch has become a kind of cult. It is used primarily as an admission ticket to the private club of “crypto-snobs”. APE owners can indirectly benefit from the development of this small but rather strong community.

“Potentially, after the change in global market trend, we can expect a high interest in this project, and, consequently, practical application of tokens and their multiple increase in price,” – believes our expert.

Aptos (APT) 

Our expert also called cryptoprojects Aptos, a new blockchain, a rather bright and loud novelty of 2022. The project is interesting from the point of view of marketing campaign. But not only because of that, it can also be useful as a testing ground for new technological solutions in the industry.

The team of Aptos creators is trustworthy. Earlier this team was engaged in development of Diem cryptocurrency wallet for social networks of Mark Zuckerberg. This cryptocurrency project never took off because of the resistance of American regulators. But according to our expert, there is no doubt in the competence of the developers.

Aptos blockchain is aimed at the hottest topic of this year – Web3. And this also plays into the hands of the project, which only attracts participants and investors so far. This blockchain has all the major innovations. Such as parallel transactions to increase the conductivity of the blockchain. As well as smart contracts, a system of increased cybersecurity, and the ability to run NFT collections.

Now the ecosystem is actively being filled with applications. Our expert believes that by the new year there will be a significant inflow of liquidity into the ecosystem. Aptos is definitely worth keeping an eye on in the next six months although the start of APT token trading in the middle of October was quite scandalous.

“Unfortunately, the reality is that today it is not so much the most useful projects that survive as the most quoted ones. Although one should not belittle the merits and technical results of the Aptos team. But it is obvious that the emphasis of the project is on the marketing component,” said our expert.

Battle Infinity (IBAT) 

If we consider more risky, but no less promising cryptoprojects in 2022. Then we should also pay attention to Battle Infinity gaming tokens. Despite the fact that previously the team of developers from India has not been seen in successful cryptoprojects, their proposed concept is interesting.

Token essence, as in many similar projects, comes down to the role of manager and in-game token, our expert explained. He specified that in case of successful realization this project will unite several sports games inside its own single Metaverse. In this Metaverse IBAT will be the link of the whole ecosystem.

Buying this token is quite a risky investment for this type of project at its current stage of development. Especially with the bearish trend of the whole crypto market, our specialist warned. But, he noted that in case of success, it may turn out that the price of the token will increase many times due to its active use within the ecosystem. Although the project is risky, it is worthy of careful study.

Algorand (ALGO) 

Another cryptoprojects worth keeping an eye on, even though it is not as new as the above mentioned ones, is Algorand. Our expert explained that it is a decentralized platform with smart contracts for DeFi, digital asset release, Web3 projects and other similar developments.

Our expert again turned his attention to the team of creators. This project was started by MIT professor Silvio Micali. The team managed to achieve partnership agreements with a number of states over several years. These include states like the Marshall Islands and El Salvador. This means that blockchain is potentially interesting for launching national digital currencies (CBDC).

Also, our expert pointed out that USDT and USDDC stackcoins are already running on the Algorand blockchain. And this means that it is a sought-after network. In the long term, Algorand may take its niche among other DeFi-oriented ecosystems.

Disclaimer: We do not give financial advice on buying certain cryptoprojects. This review focuses on cryptocurrencies that are promising according to our experts

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Telegram launched Web3-marketplace for selling usernames

In the first phase, Telegram auctioned off usernames reserved by messenger team. Review by Crypto-Upvotes experts

Web3-marketplace Fragment was launched. It sells the names of Telegram users. On the evening of October 26, the first auctions were opened on the blockchain platform. Names in the form of digital assets are sold using smart contracts.

Names reserved by a Telegram team are put up on this platform. These are names such as @chat, @bank, @cryptotrader and others. Auctions last one week from the first bid. So far, the maximum bid is for the name @casino – 52.5 thousand TON ($84 ths.), @bank with a bid of 63 thousand TON ($100.8 ths.) and @auto – 31.5 thousand TON ($51.3 ths.).

Minimum bid depends on length of user name. Initial cost of a four-letter username is 10,000 TON (about $16,000). The minimum price for names with more characters starts from 500 TON ($800).

Pavel Durov announced plans to launch Web3-marketplace in late August. Other elements of Telegram’s ecosystem, including channels, stickers or emoticons, could also be part of that market later, said Durov, founder of Telegram.

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Vertu has released on sale a crypto-phone for $ 41.5K

Manufacturer of luxury smartphones Vertu has officially introduced a new device, METAVERTU. Calling it “the world’s first Web3 phone”. Review by Crypto-Upvotes experts

Vertu , which produces luxury smartphones, unveiled and released a series of new METAVERTU devices. Calling them “the world’s first Web3-phones. The line includes 10 models priced from $3,300 to $41,500.

Vertu supports Web2 and Web3 systems. It also has a built-in cryptocurrency wallet, and a marketplace of decentralized applications. Also, the device allows to create and store NFT. Especially for Ethereum validators, the phone has a version of a node for mining ETH.

Previously, other companies were engaged in similar developments. There were announcements of crypto-phones Exodus from HTC, Finney from Sirin Labs and KlaytnPhone from Samsung’s Galaxy Note line. But there are virtually no such handsets on sale. The KlaytnPhone website says the smartphone is only available in South Korea.

This June, Solana Mobile, a subsidiary of Solana Labs, announced the Saga. It is an Android-based smartphone with private key storage and a decentralized Web3 app store. The device is not yet available for purchase ! But it is already available for pre-order for the beginning of next year.

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