Nuggets News創始人：Cardano尚且無法與以太坊競爭

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大約在去年的這個時候，IOHK首席執行官Charles Hoskinson預計 Cardano 將擁有數百種資產和數千個dApp。Nuggets News創始人Alex Saunders回應說，目前還沒有足夠多的開發人員熟悉基於Haskell的Plutus平台來實現這一目標，但五年後就有可能了。Saunders指出 Cardano 仍然沒有智能合約、ERC20轉換器、代幣或dApp。他補充稱，以太坊的網路效應使得其他項目無法與之競爭。（Crypto Slate）

Is the Bitcoin bull run only in the ‘disbelief’ market cycle phase?

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Bitcoin (BTC) topping out at $64,500 would mean that this bull market is unlike any other in history, one commentator argues.

In a tweet on Tuesday, Alex Saunders, founder and CEO of Nuggets News, used a classic Wall Street paradigm to suggest that BTC’s price is far from its macro top.

No Bitcoin bull run ends in “disbelief”

Bitcoin has so far failed to crack resistance even at $40,000, languishing 50% below its recent all-time highs.

As fear lingers as the driving force behind market sentiment, many are concerned that bullish momentum cannot compete with recent bearish price events.

Chief among them is the forced miner migration out of China. With months set to pass before the hash rate recovers, even the most tried-and-tested Bitcoin price models are being stretched to their limits.

For Saunders, however, China’s move to “go for the kill” when it comes to Bitcoin’s health has already failed to produce its intended result.

“In 9 years I’ve never seen a bull market end in disbelief. Consensus is sideways & 1 more leg down,” he summarized.

“So China decides to go for the kill. It didn’t work & that was their last ace. So expect them to try anything. You can’t beat the bull.”

Saunders referred to the classic market cycle paradigm in which “disbelief” precedes a dramatic price run-up in a given market. After a comedown from a macro high, “disbelief” likewise signals a reawakening after a protracted period of losses.

His comments came as fresh comments from the People’s Bank of China reiterated previous negative sentiment on cryptocurrency, warning banks not to allow transactions associated with the industry.

Unlike last time, however, the news had barely any impact on Bitcoin price action.

“Wall St. Cheat Sheet” graphic. Source: ritholtz.com

The hash rate bottom may already be in

He is far from alone in his belief that Bitcoin has not seen its highs in this halving cycle. Supporting him is stock-to-flow model creator PlanB, who is eyeing a minimum BTC/USD price of $135,000 by the end of 2021.

As Cointelegraph reported earlier this week, signs that the worst of China’s mining crackdown is already over are already visible in Bitcoin network fundamentals.

The hash rate has bounced off its recent lows, while difficulty is busy accounting for the biggest reshuffling in mining power that Bitcoin has ever seen.

This may nonetheless mean that difficulty sees an even bigger drop at the next readjustment in just under two weeks’ time. Thereafter, the added miner presence resulting from increased profitability should allow the network to complete its automated balancing act.

Crypto roundup: Market falls with Ether hitting two-week low; Crypto Visa card coming to Aus; Uniswap v3 on layer 2

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The crypto market is deep in the red this afternoon with nearly every asset down and Ethereum at its lowest level in two and a half weeks.

At 4pm AEST, Ether was changing hands for US$1,881, down 5.1 per cent from yesterday. Ether reached a nadir of US$1,751 in late June, but has otherwise traded above US$2,000 since early April.

Bitcoin was trading at $US31,926, down 2.9 per cent from yesterday and near the bottom of the range in which it has been trading since late May.

Cosmos (ATOM) was the worst performer, falling 13.1 per cent to US$11.40. KuCoin, Theta Fuel, Terra (LUNA), Synthetix, Telcoin, Enjin Coin, and Siacoin were all also down by double-digits.

Red-hot gaming token Axie Infinity was the best performer, hanging on to its gains with a 1.8 per cent rise over the past 24 hours to trade at US$20.40.

Crypto Visa card coming to Australia

A Sydney start-up has reportedly convinced Visa to let it issue a physical debit card to make cryptocurrencies more easily spendable.

CryptoSpend will let users deposit Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin and spend those assets directly from the app, at a variable rate.

The app is a project of two mates from UT Sydney, Andrew Grech and Richard Voice, the Australian Financial Review reported.

“Spending it directly is a more convenient way of selling it,” Grech told the AFR.

“We have a lot of demand for the card. If the market is green, someone could say it’s time to spend some of my profits. On the other side of the fence, another person might say it’s going to keep going up, I’ll hold onto it. But we have seen more spending volume when the price is going up.”

The card is being issued by Novatti (ASX:NOV) and should be launched by September.

Crypto.com has a prepaid Visa card available in Australia and BTC.com.au has a eftpos card, while Coinjar used to have one.

Uniswap v3 launches on Optimism

Leading decentralised exchange Uniswap has finally launched on Optimistic Ethereum (OΞ), a layer 2 scaling solution for Ethereum.

It’s an alpha launch, meaning there will be downtime and not all assets are available, but transactions should be ten times cheaper and confirm instantly.

(As users known, Uniswap transactions currently can take a minute or so to confirm, sometimes get “stuck,” and gas fees to use the Ethereum network can be several dollars or more).

3/ 🤑 Initial transaction cost savings can be up to 10x. 🏗️ Early adopters may experience higher fees due to rate-limiting while the OΞ network is battle-tested. 🏃Transaction capacity will ramp up over the coming weeks and months, significantly reducing gas fees over time. — Uniswap Labs 🦄 (@Uniswap) July 13, 2021

Australian crypto influencer Alex Saunders was impressed when he tried the network this morning.

Can’t help but feel Ethereum just had it’s dial up to broadband moment. 🦄🛠🌐 $ETH https://t.co/V9XAFU5Dpa — Alex Saunders 🇦🇺👨‍🔬 (@AlexSaundersAU) July 14, 2021

A detailed guide on how to use Uniswap with Optimism is available here.

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