The largest information within the cryptoverse for Nov. 3 consists of the personal dialog Korea obtained that proves Kwon purposely manipulated the LUNA value, the reveal of China’s $6 billion value of crypto reserves, and Stripe’s choice to downsize by 14%.
CryptoSlate Prime Tales
Korean authorities reportedly have proof of Kwon’s LUNA value manipulations
Korean prosecutors confiscated a non-public dialog between Terraform Labs founder Do Kwon and certainly one of his workers the place Kwon ordered him to control Terra’s (LUNA) market value, in keeping with native information sources.
Prosecutors additionally found Kwon was presently residing someplace in Europe. Since his passport was terminated by the Korean authorities on the finish of October, Kwon is presently an unlawful immigrant on European soil.
China holds $3.9B value of Bitcoin regardless of anti-crypto stance
CryptoQuant’s co-founder Ki Younger revealed that China holds $6 billion value of crypto, together with Bitcoin (BTC) and Ethereum (ETH). That is notably attention-grabbing since China is understood for its anti-crypto angle.
Younger revealed the information by way of his private Twitter account and disclosed that China seized 194,000 Bitcoins, 833,000 Ethereums, and others from the PlusToken rip-off of 2019 and has been holding on to them ever since.
Stripe lays off 14% of workforce to chop prices amid financial downturn
Funds processor Stripe’s CEO despatched an electronic mail to all workers on November 3 to announce that the corporate laid off 14% of its workforce, equating to over 1,100 workers.
The e-mail acknowledged:
“We had been a lot too optimistic concerning the web financial system’s near-term development in 2022 and 2023 and underestimated each the chance and impression of a broader slowdown.”
Rumors of Andre Cronje’s return trigger Fantom to spike 24%
iEarn Finance’s founder and architect Andre Cronje posted a meme saying, “right here we go once more” on his official Twitter and Linkedin accounts on Nov. 3.
— iamdefinitelyandre.ftm (@AndreCronjeTech) November 3, 2022
The meme led to rumors that he’s again within the crypto trade. Whereas Cronje didn’t deny or approve the rumors, Fantom (FTM) reacted to the information by spiking 24% up to now 24 hours.
eNaira CBDC ‘an enormous failure’ regardless of Nigerian central financial institution’s claims on the contrary
Nigeria’s Central Financial institution Digital Foreign money (CBDC) eNaira has didn’t attain its anticipated success. It was launched on Oct. 25, 2021, to “enhance remittances, foster cross-border commerce, enhance monetary inclusion and allow the federal government to make welfare funds extra simply.” Nevertheless, it solely facilitates slightly over 700,000 transactions since its launch.
Nevertheless, the Nigerian Central Financial institution claims that this can be a victory and that the eNaira fulfilled its goal: to familiarize individuals with crypto.
Cloud service supplier Hetzner blocks entry for Solana validators over TOS breach
Stake pool operator SolBlaze tweeted the screenshot of an e-mail from Hetzner, revealing that Hetzner blocked all Solana (SOL) validators.
🚨⚠️ Hetzner simply kicked off all @solana nodes hosted on their infrastructure. ⚠️🚨
Over 20% of stake weight on mainnet-beta is delinquent, with 1000’s of validators offline.
If you’re operating a Solana validator utilizing Hetzner, please swap to a distinct supplier ASAP. pic.twitter.com/rkXwKvXGVx
— SolBlaze.org | Stake with us! 🔥💃 (@solblaze_org) November 2, 2022
Hetzner reminded that its community doesn’t enable crypto-related actions and requested the validator to take away all Solana-related actions from their server.
Analysis Spotlight
Analysis: Bitcoin falling under key resistance for under the fourth time in its historical past
Analyzing Bitcoin’s realized value and price foundation cohorts metrics, CryptoSlate analysts revealed that the bear market is more likely to flip by the top of the primary quarter of 2023.
The conclusion was drawn from the price foundation cohorts, that are calculated based mostly on the realized value.
On the chart above, the Bitcoin value foundation cohorts chart exhibits that the present Bitcoin value is under the short-term holders’ and long-term holders realized costs. This incident has been repeated solely 3 times earlier than, which is demonstrated by the purple areas on the chart.
In every incident, Bitcoin recorded a surge. Judging by the historic proof, Bitcoin is more likely to break its present resistance quickly, presumably on the finish of the primary quarter of 2023.
Information from across the Cryptoverse
Haas F1 companions with OpenSea to launch NFT assortment
Haas F1 System Workforce inked a partnership cope with main NFT market OpenSea to launch a brand new NFT assortment, because the Haas F1 Workforce introduced.
Crypto Market
Within the final 24 hours, Bitcoin (BTC) elevated by +0.22% to succeed in $20,244, whereas Ethereum (ETH) additionally spiked by +1.61% to commerce at $1,542.
