Is cryptocurrency winter 2022 over?

Youtube of same content here: https://www.youtube.com/watch?v=Gs1XDiOb1ho (if you prefer audio)

We’re in that time of crypto period again.

Where there’s lots of blood on the streets and fear in the hearts of many. Many lost a lot of money, such as in

• Terra Luna’s catastrophic meltdown
• 3AC liquidation
• Celsius bankruptcy

and there are scores more of such exchanges, tokens, coins and projects being killed or rugging people.

The last time I went through this, was when bitcoin (BTC) went into high of $19,000+ before crashing as low as $3,000+ (about 80%+ crash). Yep, that was AFTER I pumped more to buy more BTC at USD 18,000+.

Crydieme.

But it is what it is, I can see similarities today. Bitcoin as high as $69K, and been hovering around $19K (about 75% drop) for a long time now. It’s been wave after wave of negative events and news.

Should we be afraid?

It’s rationale and smart to be cautious and even afraid – it’s not a bad word.

Be cautious, but at the same time, I do not shun or look badly upon blockchain projects. If anything, I still hold onto my conviction that blockchain as well as cryptocurrency will change the world for the better. But there’s an important caveat:

Only the good ones will do that.

At least 90-97% of the blockchain projects and crypto are scams and rugpulls; and the okay-to-good ones, may be poorly managed due to insufficient regulatory measures in place.

It is kinda like a wild wild west world of venture capitalism (or downright gambling, anyone?), but if you choose the right project and at the right time, you may be able to sit on a rocket to earn some delicious gains.

Chainlink (LINK) Continues To Shine With Over 14% Gains

https://www.newsbtc.com/wp-content/uploads/2022/11/LINKUSD\_2022-11-01\_17-06-07-860x473.png

Chainlink, the blockchain oracle service provider, continues to keep impressive weekly gains. The token soared with the entire crypto market, bagging over 14% gains. The last week of October has been favorable for the entire crypto market. Just a few days back, the entire crypto market cap crossed the $1 trillion mark. This bullish move acted as a catalyst for most tokens to register substantial gains, including Chainlink. 

However, the daily chart has been bearish for most coins. Top coins like Bitcoin and Ethereum are facing measurable losses on the day. However, Chainlink has stood out of the crowd, refusing to drop to the red zone.

Chainlink Soars Thanks To Increased Whale Activity

Chainlink (LINK) made a significant rise this past weekend, surging all the way to $8. At the time of writing, LINK was trading at $7.84, giving the blockchain a market cap of $3.8 billion. Strong whale activity served as a backdrop to the LINK price spike over the weekend. On-chain information service Santiment reports that this past weekend saw the highest number of LINK whale transactions in four months. 

Santiment added: “Chainlink whales have gotten quite active this weekend as market prices have teased the $8 level a few times. Saturday saw 33 different $LINK transactions exceeding a value of $1 million. This was the highest whale activity day since June 27th.”

Over the last month, Chainlink (LINK) has been on the radar of investors and crypto traders. This is evident in the number of whale activities throughout the month of October. The price of $8 is a significant resistance for Chainlink at the moment (LINK). If LINK breaks out above that level, it might be the start of a significant upswing. Chainlink has been strongly consolidating in the $6–$8 level for quite some time now.

LINK’s price is currently trading at $7.74. | Source: LINKUSD price chart from TradingView.com

Popular Analyst Sees Bullish Future For Chainlink 

The cryptocurrency market was down for much of the day. While Chainlink is currently down 3.86%, it’s still one of the best performers among top tokens with a large market cap. One of the most-followed crypto analysts, Pentoshi (anonymously on Twitter), has expressed his optimistic view toward the asset. According to him, Chainlink’s chart has received the most attention over longer time horizons.

He instead prefers to talk about the upcoming Chainlink’s staking event, which is slated for December. Pentoshi argues that this will be the catalyst needed to drive LINK’s price to $12.45. At press time, the price of Chainlink is $7.83. So to meet the analyst’s objective, it would need to rocket by more than 55% from its current levels.

The expert continues by pointing out that the Total Market Cap of Crypto Index has recently hit a low. This index measures the total value of all altcoins, excluding Bitcoin and Ethereum. According to Pentoshi, the index will make an upward rise that will take it from $387 billion to roughly $456 billion. This signals a bullish outlook for the majority of the altcoins.

Featured image from Pixabay and chart from TradingView.com

What will bring mass adoption? 🤔

There is plenty in the pipeline but it will only take 1 true spark to bring the forest fire, From large chains to small there is already an abundance of utility. Cardano has something along the lines of identity cards in schools for Africa. It might Telecoin and a global peer2peer currency for mobile carriers. A Social network token wether it's twitter/doge or Deso or one that hasn't been introduced. It might even be the Metaverse and metaverse gaming. Deeds to houses and car titles as NFTs. Web3 internet, free speech. Maybe even huge corporations and banks will bring legitimate DeFi banking as opposed to the current system. Clearly it's not Zuckerberg and his metaverse but maybe a new generation can branch off. It might be attending events, concerts and school. It's starting to look like it could be the end of financial slavery to the dollar/pound ect, with the rate inflation is going. It could be bitcoin reaching 100k by end of year. 😅. A Global health insurance provider. Mass adoption through music/artists. There's plenty of reasons to back a variety of these ideas, but when push comes to shove it will only take 1 to be the tipping point and bring in TRUE mass adoption.

Does anyone know where to find a high quality version of this image?

https://i.redd.it/37dvrjvc3kx91.jpg

Islamic Digital Coin Fully Complies With Sharia Principles

https://preview.redd.it/8cd2hwuyglx91.png?width=1024&format=png&auto=webp&s=efd83e4b46ff0f9832143338efd59b506ba001ff

Cryptocurrency is taking more and more space in our lives. The financial market is rapidly developing in the decentralized finance sector. Against this background, in many Islamic countries, digital money was recognized as haram, since their value depends on unpredictable factors. For example, in bitcoin, financial transactions take place in a closed format and encrypted. Islam calls to stay away from dubious money.

Islamic banks perform the same functions as traditional banks. They also act as financial intermediaries and offer various banking products to their customers. However, the difference is that the Islamic bank does not charge interest. This is due to the huge influence of the Koran, which does not allow to benefit from usury.

The Islamic banking system operates in accordance with the moral and ethical standards of the Shariah. Someone may say that such an approach is contrary to the concept of the banking system and it will not be able to develop. But special interest in this topic arose after Islamic banks were not affected by the US mortgage crisis, which stirred up world markets. Therefore, the banking system, built on the principles of Islam, is gradually conquering the world with its reliability and weak response to crises.

Now there is a very important event that will affect many aspects of the life of the Muslim community — this is the emergence of an Islamic digital coin that complies with Muslim religious norms. Islamic Coin received a Fatwa from eminent Muslim legal scholars.

Islamic Coin provides real financial assistance to the Muslim community by sending 10% of the mintage of each coin to the Evergreen DAO charitable foundation. This fund invests in projects serving Muslim communities around the world.
In addition, Islamic Coin mining is carried out using new methods that can significantly reduce electricity consumption. And this applies not only to Muslims, but to all people of the planet.
All these factors allow Islamic Coin to quickly become a powerful force in the crypto space and gain more and more followers.

Cardano Daily Discussion - November 02, 2022

Hello everyone,

Welcome to the Cardano Daily Discussion!

The standard sub rules apply here (see sidebar), with the exception that price discussion is allowed in this thread, though we encourage you to try not to make this the focus and talk about the project itself. Please ask questions, help others and be civil - be sure to get involved in Project Catalyst too!

If you're new, please make sure you're read through the newbies guide and share it with others (use the ?newbies comment command to reference it).

​

⚠️ Scam Warning ⚠️

Please read the Cybersecurity guidelines for Cardano Users.

There are ongoing giveaway scams on youtube and many scammers lurking in Cardano's social channels impersonating ambassadors/moderators/official staff contacting users via direct messages.

For example, searching 'cardano' on youtube and sorting by most recent upload date shows several giveaway scams running (all videos in screenshot are scams):

​

Ongoing 'giveaway' scams on Youtube

The youtube scams are automated; use stolen footage usually of Charles Hoskinson and are restreamed so to appear to be 'live'; appear to have many watchers (which are bots); use bought hacked channels and are edited to appear like official channels.

Do not be fooled!

​

To be clear:

• ⚠️ There is no such thing as a Cardano giveaway
• ⚠️ Never share your seed phrase with ANYONE
• ⚠️ Never send ADA to someone promising to send you more ADA back
• ⚠️ You will never be contacted by ambassadors/moderators/staff

Please report scams on the Cardano Fraud Detection Bureau.

⚠️ Scam Warning ⚠️