• Cardano’s (ADA) price has seen a notable increase since the SECP upgrade.
• 63.5 million ADA coins were transacted over the past week.
• The ecosystem is undergoing continued development, including features for dynamic P2P networking, wallet improvements, and much more.
Cardano’s Recent Price Increase
Cardano has witnessed a remarkable volume of transactions in recent weeks, with the price of ADA reaching its highest increase since the SECP upgrade. The Cardano ecosystem displays promising and ongoing development, preparing itself for the Age of Voltaire—the fifth and final stage of its evolution which will make it fully decentralized and self-sustaining. Amidst Cardano’s remarkable growth and whale action, the price of ADA briefly increased to $0.38, displaying a promising uptrend for the first time since the SECP upgrade before dipping slightly once again.
Continued Development On The Ecosystem
The Cardano network has been bustling with updates, developments, and partnerships in recent months — including an Input Output report detailing five key highlights blooming across the ecosystem: dynamic peer-to-peer (P2P) networking available on mainnet; wallet improvements such as Lace desktop development; Layer-2 scalability solution Hydra; node mainnet compatibility; and Marlowe blockchain-agnostic features being improved with new functions.
63.5 Million ADA Transaction Volume
The native cryptocurrency of the Cardano network saw 63.5 million coins transacted over last week—an impressive feat that brings attention to increasing adoption as smart contract capabilities push demand up ahead of upcoming launches on mainnet such as Mithril beta version becoming available soon.. Additionally, commercial arm Emurgo recently partnered with Thailand’s “biggest cryptocurrency exchange” Bitkub to further boost adoption across Asia Pacific regions.
CIP-1694 Governance Discussions Across The Ecosystem
Cardano founder Charles Hoskinson is asking community volunteers to weigh in on CIP 1694 governance security discussions happening across the ecosystem as they look to continuously improve upon existing systems while introducing new ones that will benefit users around the world. In addition to Hoskinson’s call for input from community members worldwide, these conversations are being used to better understand how best to move forward into a more secure future through decentralized governance solutions that accommodate both user privacy concerns as well as global compliance standards in order to safeguard against potential malicious actors attempting malicious activities within any given system or platform at large scale levels without getting caught too easily by law enforcement personnel or other regulatory bodies tasked with keeping digital ecosystems safe from exploitation attempts or fraud attempts alike by bad actors who may have nefarious intentions towards any given system or platform at hand be it financial services related software platforms like banks or even decentralized networks like Ethereum 2nd layer scaling solutions or similar types of projects looking thematically similar platforms out there today that require being secured properly against malicious actors attempting exploiting such platforms either directly via technical vulnerabilities found within code bases themselves or indirectly through social engineering attack vectors targeting individual user accounts instead relying on exploiting technical vulnerabilities found within code base levels respectively instead going after human weaknesses primarily instead when trying attacking digital systems in general basically speaking then overall considered here henceforth accordingly hereby evidently concludedly viewed thusly stated ultimately summarily conclusively all told then finally so apparently then accordingly stated finally all said and done ultimately henceforth all included herein hereby evidently specified thusly conclusively concludedly summarized all told therefore eventually presumably probably seemingly likely perhaps maybe potentially possibly potentially altogether eventually presumably probably most likely apparently consequently then afterwards afterwards thereafter thenceforth thenceforward thuswise ultimately consequently ultimatively thereby herewith whereby whereupon whereat whereof wherefore thereat thereto therefrom theretofore therein thereof wherewithal herefrom thereafter thereunder thereafter heretofore hereinabove so aforesaid aforetime finally evidently whence forthwith whereinto peradventure thitherto thuswherefrom thencehence whencesoever evermore
Bitcoin (BTC) Nears $27,000
• Bitcoin (BTC) has seen huge growth in the last seven days, currently hovering around the $27,000 mark.
• Some are calling for a new crypto bull market due to issues with the banking system in the U.S. and investors panicking.
• BTC is up 6.5% in the past 24 hours and a staggering 30% in the past week, with its market capitalization at $513 billion and total cryptocurrency market cap at $1.17 trillion.
Banking System Issues
The banking system in the United States seems to be on the verge of collapsing as multiple banks announce liquidity issues and other concerns, despite help from the Federal Reserve. Investors are panicking as banking stocks plunge, driving Bitcoin and other cryptocurrencies up significantly and leading some to call it a new bull market beginning.
Bitcoin Price Growth
Bitcoin (BTC) has grown tremendously over the past week, trading at $26,574 and up 6.5% in 24 hours and 30% in 7 days. The last time BTC traded at $27,000 was June last year when it dropped from $31,000 to $17,000 after the Terra-Luna ecosystem imploded. Ethereum (ETH), which is currently trading at $1,712 is up 3.4% on the day and 19.7% in a week but down 3%, its lowest since July 2022 as staked ETH withdrawal nears on April 12th., making investors predict that it will go down even lower before it finds a bottom.
Start of Bull Market?
As BTC continues to pump some believe this marks a new bull market beginning with #Bitcoin Bull Market being underway far from Belief/Denial range signaling cooldown period followed by rally coming soon due to massive room for growth with third green monthly candle already confirmed this month further confirming this theory
Overall Bitcoin has seen significant growth over recent weeks despite issues with banking systems causing panic among investors leading many to believe that this is just the start of another bull run for cryptocurrency markets with Bitcoin leading them all into an exciting future!
• Silicon Valley Bank is facing huge liquidity issues due to U.S. interest rate hikes
• This poses a significant risk to the crypto industry, especially crypto-friendly venture capital firms
• Crypto VCs are already advising portfolio companies to withdraw funds from the troubled bank
Silicon Valley Bank’s Troubles
Silicon Valley Bank is a top 20 bank in the U.S. with $200 billion in assets under management (AUM). The bank, known for its dominance in the U.S. startup world, recently announced a $1.75 billion stock offering and a $500 million common stock purchase by private equity firm General Atlantic to shore up its balance sheet. As a result of this news, Silicon Valley Bank’s shares went down 60.41% on Thursday and 62% on Friday’s premarket session according to data from Yahoo! Finance, trading at $39.49 per share. Additionally, some users report not being able to log into their accounts at all as liquidity issues come into play for the bank.
Impact on Crypto Industry
The potential collapse of Silicon Valley Bank poses a significant risk to the crypto industry, especially those venture capital firms that are already crypto-friendly such as Sequoia and Andreessen Horowitz (a16z). In response, many VCs have already advised their portfolio companies to withdraw funds from the troubled bank before it gets worse.
Risk of Collapse
Of SIVB’s total assets of $200b , about $116 are securities while around $80b consist of high quality liquid assets that can be sold or repo’d for cash if needed . This shows how deep these liquidity issues go , making it increasingly risky if Silicon Valley Bank does not take necessary steps soon .
Why It Matters For Crypto
Crypto projects heavily rely on venture capital firms for funding and advice , so any disruption in this sector could lead to serious trouble for them . The absence of Silicon Valley Bank from this market would also mean fewer options for crypto firms looking for banking services .
What Can Be Done?
The best course of action would be for crypto-focused venture capitalists and startups alike to diversify their banking portfolios and find alternative ways of financing themselves outside of traditional banks like SIVB . This way they could protect themselves against potential risks associated with having most or all their operations tied up with one single financial institution .
• Animoca Brands has released NFT licenses to enforce creator royalties
• The licenses bind creators to a set of conditions and ensure payment of creator royalties
• The licenses are legally binding under the jurisdiction of New York State Law
Animoca Brands Launches NFT Licenses
Animoca Brands has released NFT licenses that enforce creator royalties. The venture capitalist released the licenses in light of leading NFT marketplaces exploiting creator royalties. The rising concerns for creator royalties led to Animoca Brands taking things into their own hands, with chairperson Yat Siu at the forefront, advocating for creators‘ rights.
Creator Royalties Protected
The company believes that royalties for NFT creators are essential to keep the web3 ecosystem healthy and are a critical part of the web3 ethos. Keeping Web3 Healthy with NFT Licenses, Animoca Brands has rolled out a set of three NFT licenses that require the payment of creator royalties as a condition for using the underlying NFT.
The Web3 leader has introduced a license for personal use, permitted commercial use, and unlimited use. Furthermore, the licenses fall under the jurisdiction of New York State Law. By signing the agreement, each party agrees to submit itself and its property to the jurisdiction of any New York State court or federal court in New York City. Each license lays a clear framework for NFT usage rights for creators and holders with different restrictions and conditions.
Benefits Of Royalties & Licenses
The incentive alignment is strong when it comes to royalties &NFT marketplaces without them high entry costs make participation difficult. All licenses protectthe Creator’s trademark, trade name, business name and logos from being used without permission or payment from those who hold an issued license from Animoca Brands.
All in all Animoca Brand’s new licenses provide legal protection while ensuring fair compensation is allocated back to its rightful owners -creators- thus benefiting both sides involved in transactions involving digital artwork created by said creators