Kevin O’Leary warns against crypto crash

Kevin O’Leary, the star of Shark Tank and a millionaire that has shifted his stance on cryptocurrencies now warns against short term turmoil that can have a sever impact no the price of cryptocurrencies. O’Leary expects massive capitulation to happen, leading to fear and panic amongst the crypto investors.

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NEAR Protocol x Google Cloud

NEAR Foundation just announced a brand new partnership between Google Cloud and NEAR Protocol. Google Cloud will provide technical support for NEAR grant recipients and developers as they build and scale their Web3 projects and decentralized applications (dApps).

Warner Music Group & OpenSea

The American record company, Warner Music Group, has partnered with the NFT marketplace OpenSea. In an effort to increase fan participation and foster community, artists signed to Warner Music Group will have their own drop sites on OpenSea. This could increase the adoption of NFTs despite their massive drop in popularity in 2022.

Crypto Punks NFTs traded 1m ETH

Crypto Punks, the most popular NFT project, just reached an important milestone. The total trading volume on OpenSea crossed 1 million Ethereum today, which is more than $1.3 billion at ETH’s price now. On average, a Crypto Punk NFT sells for approximately $100k, but someone bought Crypto Punk 2924 for $4.3 million today.

Interpol issued red notice on Do Kwon

Interpol issued a red notice on Do Kwon, the co-founder of Terraform Labs. Do Kwon insists that he is not hiding, but it is unclear where he is because Singaporean authorities claim he is not in the country.

Russia is about to legalize crypto

Russia took the first step toward legalizing crypto, and it benefits everyone. Kommersant reported that the country’s Deputy Finance Minister Alexei Moiseev and the Bank of Russia have settled on using cryptocurrency for cross-border payments. Locals are permitted to process international payments using crypto.

Vitalik Buterin expects others to use PoS

All blockchains, including Dogecoin and Zcash, according to Ethereum co-founder Vitalik Buterin, should switch to proof of stake. Vitalik believes that now that the Ethereum merge is complete, other blockchains should follow.  “As proof of stake matures, I expect it to just increase in legitimacy more and more over time,” said Vitalik.

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Silver falls by 5% 📉

Silver rose rapidly from $18 to $21 in just a few days, and safe-haven bids propelled this growth. Now silver falls by more than 5% below the $20 mark.

Higher US jobs numbers

Private businesses in the US created 208K jobs in September 2022 compared to an upwardly revised 185K in August. This was followed after schools reopened and pandemic concerns receded. However, while job growth is stable, it remains below the recent three-month average.

NEAR Protocol x Google Cloud

NEAR Foundation just announced a brand new partnership between Google Cloud and NEAR Protocol. Google Cloud will provide technical support for NEAR grant recipients and developers as they build and scale their Web3 projects and decentralized applications (dApps).

Elon Musk buys Twitter for $44b 🔥

Elon Musk has decided to carry out his $44 billion plan to purchase Twitter. The announcement caused Twitter’s shares to soar, increasing by more than 22% in a single day. In addition, Carl Icahn reportedly bought a stake in Twitter worth more than $500 million and made a large profit from this news.

RBNZ hiked interest rates but NZD falls

The Reserve Bank of New Zealand announced its fifth consecutive 50 bps rate hike. This move was strongly anticipated, and the New Zealand dollar stayed close to $0.57 during the day. To lower the high inflation, the RBNZ has raised the cash rate to a seven-year high of 3.5% and hinted another tightening.

European PMI declines

Purchasing Managers Index (PMI) declines more than expected in Spain, Germany, Italy, and France. As a result, the whole European PMI falls directly due to the aggressive monetary policy adopted by central banks.

News

Poland surprisingly does not raise its interest rates

Neither the neighbouring Czech Republic nor Hungary are likely to raise rates. Is this the end of interest rate hikes?
Correlation of Bitcoin and gold reached 12-months high
BTC
-0.86%

Correlation of Bitcoin and gold reached 12-months high

Bitcoin, like any other asset, is correlated to other asset classes, and lately, it has been correlated with gold more than usual.
NZD/USD fails to strengthen despite 50bps rate hike
2.22%

NZD/USD fails to strengthen despite 50bps rate hike

It looks like the bearish sentiment might resume, despite another hawkish RBNZ decision.

Azerbaijan urges to increase gas pipeline capacity to Europe

Azerbaijan has begun talks with partners to double the capacity of its gas pipelines to Europe. Could this be a lifeline for Europe?