After several very busy days and with a lot of news in the crypto market, including The Merge of Ethereum, the uncertainty and the race between blockchain projects continue. Cardano is not far behind, as its long-awaited Vasil hard fork, a critical part of the third cycle of their blockchain’s development, has been completed.
Last Thursday, the long-awaited Vasil hard fork of the Cardano network was successfully carried out, being part of the third stage of development of their blockchain. The announcement was made at 21:44 UTC, by Input Output, a research and development company in innovations with blockchain technology. This update is named after the Bulgarian-born Cardano developer Vasil Dabov, who passed away just a few months ago.
All was not roses, as the update was delayed twice due to bugs being discovered that caused quite a few issues during development. However, the event, long awaited by Cardano enthusiasts, was successfully completed.
This update will bring about significant changes to the blockchain network, directly affecting some critical factors, such as the cost of transaction fees, speed, scalability, and the development of decentralized applications (dApps).
It should be noted that, Charles Hoskinson has mentioned that although the update was carried out a couple of days ago, the effects of the update will be more visible starting tomorrow, Tuesday, September 27.
Last Wednesday, a new increase in interest rates by the Federal Reserve was announced, being the third consecutive so far in 2022. This increase was 0.75%, reaching a range between 3 - 3.25%, with the main objective of combating inflation.
As a consequence, Bitcoin reached a minimum value to very close to $18,000, and according to several analysts, several moderate falls are expected in the coming months, since there is still a long way to go in terms of economic recovery in the world, focused on neutralizing inflation.
In other news, cryptocurrency exchange CoinBase announced that, through its CoinBase Cloud service, it will launch its new Web3 developer platform. It will allow users to create new decentralized applications and non-fungible tokens (NFTs) completely free of charge. Its name is Node, and it allows users to carry out this type of development by accessing the Ethereum infrastructure and indexers.
In addition, it will offer several subscription plans with different services and advantages, however, the free plan includes access to advanced APIs for the creation of decentralized ecosystems.
Special day for the NFT community! Last Tuesday, the International Day of NFTs was celebrated. This date coincides with the time when the NFT ERC-721 standard was first introduced along with the phrase “non-fungible token” on September 20, 2017. Among the organizers of this celebration are a wide variety of NFT platforms, such as Dapper Labs, OpenSea, Flow, CoinBase NFT, among others.
In other news, Russia continues to search for alternatives to carry out its global business activities, and that is why the developers of InDefi Smart Bank, a DeFi platform, are developing the “crypto ruble, a stablecoin that will follow the value of the Russian ruble based on the Ethereum network.
The main purpose of this would be to grant Russians access to various global exchanges, in addition to being used for cross-border payments.
It is worth mentioning that the token will be linked to the national fiat, but it will be independent of the digital ruble that the country’s government plans to launch.
Hackers keep attacking! The Wintermute platform, a cryptocurrency market maker that supports a wide variety of DeFi services, has lost an amount of around $160 million in a hack related to its operation of decentralized finance protocols. However, Evgeny Gaevoy, CEO of the company, has declared that it seems that it is a “white hacker”, that is, a hacker without bad intentions, who seeks to find vulnerabilities in this type of project so that they can be corrected. This type of hackers usually return the funds, and even those affected usually offer them a remuneration for having found that error.
Bitcoin is above $19,100, after making a low of $18,125. We can find a quite interesting resistance level at $19,468, also very close to the upper end of a quite marked downtrend. We could see a small pullback to the upside, to then continue with a move down to $17,110.
BTC/USDT 1D (TradingView Chart).
For its part, Ethereum is above $1,328, bouncing just off a very interesting support zone, which had also worked as resistance. We could see a small pullback to $1,430, or a bigger one to $1,770. If it continues down, we can see a next level at $933.
ETH/USDT 1D (TradingView Chart).
We continue to see weeks with many innovations, developments and updates, which have not been reflected optimistically in asset prices, due to various factors that still maintain a high level of fear and uncertainty among a large number of investors worldwide. Very busy days are ahead for crypto assets, and it is essential that they stay informed with the latest news. Without further ado, we wish you an amazing week.
