Resorts in Soneva hotel chain can now be paid for in Bitcoin or Ethereum, review by our experts Crypto-Upvotes

Resort chain Soneva hotels in Thailand and the Maldives are now accepting payments in Bitcoin and Ethereum. Cryptocurrency payment provider TripleA and payment platform Pomelo Pay are helping to make payments.

The cryptocurrency payment option will be available at Soneva Fushi hotels. As well as Soneva Jani and Soneva in Aqua in Maldives. And in Soneva Kiri in Thailand. Also for Bitcoin and Ethereum it is now possible to buy real estate in the Maldives at Soneva Villa Ownership.

The resort network can directly book rooms. And pay with cryptocurrency through a secure link. In addition, you can use a QR code to pay in cryptocurrency. Soneva adds that while any payments made using Bitcoin or Ethereum are 100 per cent non-refundable, credits can apply in line with its flexible cancellation policy.

“At Soneva, we have always endeavoured to be a pioneer in the hospitality industry, hence accepting cryptocurrencies as a payment method is another example of enabling our international guests to easily make payments from anywhere in the world,” said Bruce Bromley, chief financial officer, and deputy CEO of Soneva.

Our experts told us what prevents Bitcoin from rising in price. And what the prospects are for it to return to its maximums as it was in fall 2021

In November 2021, 12 years after its appearance, Bitcoin reached a price high of about $69,000. On January 1, 2022, the cryptocurrency was trading at $46,200. In June, its price fell to $17,600, renewing its low from December 2020.

Proponents and critics of cryptocurrencies make various predictions about the direction in which Bitcoin will go next. And what levels it may reach.

Optimistic prognosis

A return to the historical high around $69,000 is hardly possible on the horizon of the next 12 months.

Our experts believe that the fundamental factors for Bitcoin growth. Growth in the cost of money in USA and Europe (an increase in key rates) is necessary. Despite the existing name of BTC “digital gold”, it has not yet become a protective asset. But nothing prevents BTC from becoming such in the future.

With the current volatility of Bitcoin, its price can change by $20,000 in half a year. And if volatility does not increase, the approach to the historical highs will not happen earlier than in a year.

Pessimistic prognosis

Bitcoin follows the rate of U.S. stock exchanges. And this has been observed for a long time. For example, during the growth of indices, the price of bitcoin also grows. And during the fall – it goes down. The downtrend on the U.S. stock market is for a long time. Because the dynamics of inflation in the U.S. promises a further increase in Fed rates. And accordingly, a decrease in the quotations of the technology sector.

Our expert says that according to different estimates, recovery of stock indices in USA. Which have lost more than 10% since the beginning of the year, will take at least three years. That means the same recovery period to record levels can be predicted for Bitcoin. Most likely, the coin will reach above $60,000 only in 2025.

Our experts told about its effect on cryptocurrency market “Merger” of Ethereum , and what will happen if it fails.

According to Ethereum developers’ plans, the blockchain update, also known as The Merge. Or Ethereum 2.0, is planned for second half of September. It is aimed at improving the efficiency and scalability of their network.

The speed of transactions in the network will increase to 100,000 TPS (transactions per second). It is now around 15 TPS, according to analytics platform Kaiko. The update will also improve Ethereum’s protection against coordinated attacks. Such as the 51% attack. In which, the person who controls most of the network. Can forcibly make fraudulent changes.

Phase 0 of the Ethereum 2.0 update, the Beacon Chain, was launched on December 1, 2020. Phase 0 began the blockchain’s transition to a proof-of-stake (PoS) algorithm. Its full implementation will mean the end of ETH mining.

Networks such as Ropsten and Sepolia have already switched to the new protocol. And on the morning of August 11 developers have successfully completed Goerli’s latest testnet upgrade. The tentative start date for the main network migration is September 19.

The cryptocommunity suggests that a bifurcation of the blockchain may occur during the “Merge” process. In this case, two parallel networks will emerge, each of which may have its own ETH token. Also, an update failure cannot be ruled out. These events could have an impact on the cryptocurrency market and token rates. Since the market was sensitive to Ethereum price changes after the completion of test updates.

Increased uncertainty in a crypto market

A failure of the transition to ETH 2.0 is unlikely. As all current updates in test networks are successful. In the worst case, the timing of the transition can be shifted, but not the refusal of the update and not its failure.

That said, the risks of a fork of ETH with a split into two coins, PoW and PoS, have increased in recent weeks. In the case of a fork, the PoW version of ETH will be more in demand at the expense of miners for the first time. Because of the continued ability to mine and accumulate tokens. However, in the long run, the PoS version will be more interesting for investment.

Splitting the network is not dangerous in terms of problems for the team and Ethereum project. But it could lead to uncertainty in cryptocurrency market. For example, it is unclear how long it will take to stabilize tokens, networks, exchanges and wallets. Which will have to account for not one, but two new protocols and two tokens.

Possible temporary collapse of Ethereum price

The market is already pricing in an option with a possible Ethereum upgrade. When the blockchain completely moves to the POS algorithm, there will not be any immediate reaction. If everything is “good and positive” with the market. Then ETH exchange rate will go up one way or another.

If the update will fail or will be postponed. Most likely there will be a local temporary dump of ETH price.

Ethereum has a lot of potential, especially after moving to PoS. There will be additional interest in it. Users will start investing in ETH to create nodes and get extra income from it. Our experts also said that it will open a road for institutional investors. And Ethereum itself will become more environmentally friendly due to the fact that less electricity will be used to mine it.

Market for virtual art continues to grow, despite falling prices for cryptocurrencies and collectibles. Which of NFT artist’s works sold the most, and what was bought this summer.

NFTs are unique crypto-assets that are often objects of art and digital collectibles. Rapid growth in popularity of NFTs began in 2021. And by the end of which NFT trading volume exceeded $13 billion.

This figure was up almost 400 times from 2020 ($33 million). However, due to the downturn in the cryptocurrency market in 2022. The NFT industry has shown a significant decline in sales: in July, it was about $647.23 million.

Despite this, investors and NFT enthusiasts continue to be interested in digital art. Prices for some works by virtual artists approach those of luxury goods. And in particular, they are comparable to the cost of a luxury home. The most popular tokens continue to be items from the Bored Ape Yacht Club, Cool Cats and Crypto Punks collections. Such NFTs are owned by celebrities including rappers Snoop Dogg, Jay-Z, footballer Neymar, Madonna, Ozzy Osbourne and others.

Our experts found the most expensive NFTs ever sold

The Merge – $98.1 million

This work of art was created by Pak, a student of Mike Winkelmann (also known as Beeple). This painting is made up of balls of different sizes. About 29 thousand people invested in The Merge, and total value of NFT was $91.8 million.

The First 5000 Days – $69.3 million

Work by American graphic designer Beeple. NFT was sold in 2021 for $69.3 million at Christie’s auction. First 5000 Days is a collage of Beeple work from 2007.

Clock – $52.7 million

This NFT was created by digital artist Pak to support Wikileaks journalist Julian Assange. The clock counts down how many days Assange has been in prison. It was bought by an activist group AssangeDAO.

HUMAN ONE – $28.8 million

Another NFT by Beeple, sold by him at Christie’s auction. HUMAN ONE is an animated 3d image of an astronaut. Beeple has access to this NFT and can change it periodically.

CryptoPank No. 5822 – $23.7 million

Pixel NFT with a blue punk in a bandana was sold for 8,000 ETH. It was bought for that amount in early 2022.

Expensive NFT buys over last few months

The Answer

The Answer was sold for 100 ETH ($174,900) This work is by one of the most successful digital artists of anyma. Who illuminates in his work the interaction between technology and nature.

gn

NFT gn desktop wallpaper by artist Rajon Bliss (@rivenribbon) was purchased by Snoop Dogg for 64.0 ETH ($97.3k).

88MPH In SoHo

A work by photographer Guido Di Salle was sold for 55.0 ETH ($74,000).

Synth Garden

NFT by Indian artist Archana Nair was sold for 124.69 ETH ($138,100).

Painting by actor Jim Carrey– Sunshower for 62,04 ETH ($69,500 )

Poloniex and MEXC began trading ETHW and ETHS tokens in anticipation of Ethereum updates. And BitMEX launched trading in futures contracts.

Three crypto exchanges have supported trading of tokens that may become available after hardfork Ethereum. Last week, Poloniex and MEXC announced the launch of ETHS and ETHW trading. And on August 8, BitMEX launched a futures product based on ETHPoW tokens.

Poloniex and MEXC allow Ethereum holders to exchange their cryptocurrency for ETHS and ETHW at a 1:1 ratio. These tokens function like derivatives and allow users to trade blockchain assets that have yet to launch.

On these exchanges, ETHS trades at a price close to Ethereum, while ETHW is much cheaper and trades in the $125-130 range.

In case two blockchains are formed. Then these exchanges will support the holders of both tokens.

If the ETH 2.0 update is completed without a blockchain fork. The cryptocurrency will keep its previous name ETH. In this case, Poloniex and MEXC will suspend and exclude ETHS, ETHW and related markets.

Our experts also noted that сryptocurrency exchange Binance has also announced that it will consider supporting new Ethereum tokens. Binance team has announced support for the upcoming Ethereum update. However, it warned that all new hardfork tokens will undergo the same strict verification process before listing on Binance as any other coin.

Major internet platforms in China have deleted more than 51,000 posts with illegal information about digital assets

China has blocked more than 12,000 accounts on local social networks. Their owners promoted and advertised cryptocurrency. This was reported by publication “Net Letter China” in its official account WeChat. In addition to closing accounts, Weibo, Baidu and other Chinese web platforms have deleted more than 51,000 posts with illegal advertising. Which advertises easy earnings through investing in cryptocurrencies.

Local units of Cyberspace Administration of China (CAC) have been tasked with interviewing more than 500 commercial entities. They have been asked to remove illegal content.

Find accounts, articles, and websites that publish information about cryptocurrencies. This year, users of these social networks themselves actively helped and reported these violations. CAC also plans to continue cooperating with other Chinese agencies. To strengthen the fight against illegal cryptocurrency activity and improve security of funds.

In late June, China’s largest messenger WeChat, updated its usage rules to prohibit posting information about services and services related to cryptocurrency or NFT.

Advertising in China is still possible. And our crypto marketing agency “Crypto-Upvotes” is working on this issue. Already now we can offer advertising of your project. In popular Chinese Media and Weibo influencers. In the near future we will be able to offer billboard advertising in China.

But despite WeChat and other prohibitions in China, cryptocurrencies in China are very popular. Chinese investors take leading role in the world. We do articles in popular Chinese media. To order you need to provide us with text and a picture for your article. Our team will translate the texts into Chinese and prepare them for publication.

Additionally you can order Weibo influencers. We can offer influencers for any marketing budget. To order you need to provide a text and a picture or video. And texts in Chinese we make ourselves. Weibo is very popular and they haven’t introduced restrictions for cryptocurrencies yet. So you have time to order now.

Crypto marketing agency “Crypto-Upvotes” will help to tell about your project to millions of new investors from China.

Our experts have analyzed possible changes in ETH price. And paid attention to factors which can lead to growth or decline of ETH in the near future.

Our experts believe that of all cryptocurrencies, Ethereum will make maximum profit by the end of this year. We predict 4 possible scenarios for ETH price as of March 31, 2023. In these possible scenarios, we consider two factors. These are the change in Fed rates and the Ethereum “Merger” ( blockchain’s transition to a new protocol) planned for September.

Scenario 1: Fed reversal (change of regulator’s policy towards lower key rate) and successful “Merger” of Ethereum. according to our experts, this is most likely scenario, with the target price of ETH at $5,000.

Scenario 2: Fed does not change policy, but ETH “Merger” is successful. In this case, expected price of cryptocurrency is about $3,560

Scenario 3: Fed does not change policy, “Merger” of ETH goes unsuccessfully. In such a case, we forecast a price equal to recent lows around $1,000.

Scenario 4: There is a reversal of Fed policy, with the “Merger” failing (ETH network will continue to operate as it does today). In this case, the price of ETH will be $1.6k.

There are all preconditions for these scenarios, but there is no guarantee that it will happen.

At this moment, both futures curves, money markets, and surveys of leading economists are signaling that the key rate hike will peak in December and January, and the start of FED policy easing will begin in March at best.

FED will raise rates in September by 0.75% and the market will refocus its expectations for a peak rate hike in March 2023. In that case, Ethereum could hold in a $1K-$1.7K range closer to a lower line.

Only after that by the end of the year a Merger factor will be triggered. And there will be prospects for the end of the cycle of tightening of monetary policy. And more headlines about Web3 and ETH will start to appear in the media. Then there will be more reasons to realize optimistic scenarios with Ethereum price returning to $3.5k – $5k.

Crypto platform MineXMR asked Monero miners to switch to other platforms by August 12

Monero (XMR) cryptocurrency mining pool named MineXMR announced its closure. Platform team asked miners to reconfigure their equipment to other pools by August 12.

MineXMR mining pool is largest pool in Monero network. As of August 1, about 9.5 thousand miners remain on the platform. And the pool’s Hashrate is 1.08 Gh/s . At the same time the total Hashrate of XMR network is about 2.6 Gh/s.

Platform team does not name any official reason for closing platform. Members of Monero community expressed dissatisfaction with MineXMR pool back in February. And called to boycott this platform. Users’ concerns were raised by fact that pool took control of almost 48% of Hashrate Network. This worried anonymous cryptocurrency community. Because of close possibility of 51% attack on XMR ecosystem on the side of pool management. This is an attack in which owner of more than half of network processing power can manipulate blockchain data.

Monero (XMR) cryptocurrency was created in 2014. Coin protocol includes mechanisms that make blockchain completely anonymous. Currently, Monero is a largest confidential coin with a market capitalization of $2.8 billion.

Our Crypto-upvotes experts noticed that due to high anonymity of this coin. So many financial regulators of different countries impose bans on its circulation. Therefore, our team can fully recommend this project for long-term investment.

When Tron project was launched, it was planned to create an analogue of a decentralized social network. Where entertainment content would be available to anyone. Let’s see how close creators TRX came to realization of their plans.

Blockchain Tron is one of the most controversial cryptocurrency projects. This year this project turned 5 years old! And according to some indicators, it really surpassed second largest by capitalization cryptocurrency ETH.

Decentralized social network

Blockchain Tron is a decentralized entertainment content ecosystem. TRX was launched in 2017 by Chinese entrepreneur Justin Sun. According to his idea. Developers can create their own entertainment applications (dApps) on the platform. And offer them directly to users, bypassing resellers.

Tron was originally launched on Ethereum blockchain. But in summer 2018, cryptocurrency was migrated to its own blockchain. In July 2018, BitTorrent was also integrated into Tron ecosystem. It’s a protocol for sharing files. And it has about 100 million monthly active users.

TRON network completed decentralization in December 2021. And it is fully managed by DAO community. When anyone can create content and share it with the community.

Tron today

Tron blockchain architecture consists of three layers: storage, management and applications. Third layer gives developers the ability to create DApps in a variety of programming languages. Such as Java, Scala, C++ and Python. This makes it one of its leading platforms for creating applications.

This blockchain is highly scalable. This opens up a lot of opportunities for devs to deploy their applications while being used by millions of people at the same time. Tron has better throughput than Ethereum or Bitcoin networks.

Also TRX has a sidechain project called Sun Network. Its goal is to help applications run with less power. And higher speed and enhanced security. At the same time, sidechain provides unlimited storage for the main TRON network. Sun Network is fully compatible with the core protocol. And it uses all of its key functionality.

TRC-20 tokens

Tron blockchain uses TRC20 token standard. According to TRONSCAN, total transfers in this network exceed $5 trillion. And total number of accounts in network is 105 million. The volume of blocked funds in the protocol (TVL) is about $11.3 billion. Many cryptocurrencies based on Tron blockchain (according to TRC-20 standard) operate. The best known tokens that support the TRC-20 standard are:

TRONIX (TRX) is the network’s own token, the main unit of account in the TRON blockchain. As of August 2, 2022, the token is the 17th largest cryptocurrency with a market capitalization of $6.3 billion, according to Coingecko.

Key advantage of Tron blockchain is the amount of commission. In TRC-20 form, it costs about $1 to transfer USDT tokens. And in ERC-20 form, the fee can be at least $2. And there is no upper limit: at the time of network congestion, the amount of commissions reached tens and hundreds of dollars.

USD Coin (USDC) is another Stablecoin tied to the U.S. dollar. USDC is compatible with several blockchains, including TRON network.

BTT (BitTorrent) is a TRC-20 service token that supports dApps. Which include BitTorrent Speed. BitTorrent file system and others.

APENFT (NFT) is the official management token of the APENFT marketplace. It is part of the Tron ecosystem and runs on the BitTorrent network. This coin serves as proof of rights to non-interchangeable tokens. Cryptocurrency owners can vote, share profits. And participate in token airdrop.

Our Crypto-Upvotes experts consider Tron platform one of most promising and safe. And we also recommend that you include this project. In your long-term investment portfolio. Because price of this project has not yet reached its ATH. And will rise in the next few years.

Cybercriminals send emails on behalf of Metamask cryptocurrency wallet support

New phishing attack targeting MetaMask crypto wallet users was detected by cybersecurity company Halborn. Scammers send a phishing link to your email. And they look like they were written to you by official Metamask support.

This email looks like a real message from MetaMask. It uses a logo of cryptocurrency wallet with a picture of a fox. And in this message there is a link to an open appeal to support. This email contains a demand to verify your wallet by August 30.

When user clicks on proposed link he is redirected to a scam site. Which is similar to MetaMask page. This site prompts the user to enter a Seed phrase (a unique set of words) from their wallet.

Team Halborn notes that their sender’s name and email address contain a spelling mistake. Their name is Metamaks instead of MetaMask. Scammers also use a fake domain (metamaks.auction) and a server unicarpentry.onmicrosoft.com. Which has nothing to do with the real wallet support service. Earlier in mid-July, FBI reported that American investors who used fake crypto-apps and websites. According to FBI data, 244 people were victims of scammers who created copies of web-pages and mobile wallets of famous companies.

Important

Our Crypto-Upvotes experts warn you. Never click on unverified links that you received to your email. Carefully read who sent you email and look for spelling mistakes in names or links you received. Because scammers use similar names of large companies. But they are different if you look closely and compare names. You should also go to official website of any company on behalf of which scammers have written to you. And check whether there are official important notices with any requirements for users. If there are no important announcements, you can delete this email. Remember an important detail, dear MetaMask users. Scammers can steal your funds. If only you tell them your secret Seed phrase. So never give this information to anyone.