Crypto Pirates

Ethereum (ETH) and Cardano (ADA) are two cryptocurrencies with a lot in common, but which one is a better investment? Where should you invest your money today?

Cryptocurrency's meteoric rise has been one of the most exciting developments in the investment world so far this year. Numerous cryptocurrencies have grown exponentially in value, but it can be difficult to determine which ones are the best to invest in.

Discover which cryptocurrencies may be the best in the following:

In general, cryptocurrencies remain a highly speculative investment. Nobody knows for certain what this market will look like in a few decades, as the technology is still in its infancy. As a result, cryptocurrencies are a risky investment at the moment; therefore, before investing in cryptocurrencies, ensure that you are comfortable with this level of risk.

Having said that, cryptocurrencies may also prove to be a profitable investment in the long run if they prove to be successful. Ethereum (ETH) and Cardano (ADA) are two rising stars in the cryptocurrency world, ranking second and fifth in terms of market capitalisation, respectively. Although ETH and ADA are similar in many ways, they do have some significant differences. If you're considering investing in one of these two cryptocurrencies, the information nextwill help you determine which one is the best fit for you.

Pros and Cons of Investing in Ethereum

Ethereum is one of the most well-known cryptocurrency companies at the moment, and its native token, Ether, is the second most popular cryptocurrency after Bitcoin.

Ethereum is one of the most widely used blockchains for decentralised applications (dApps) such as non-fungible tokens (NFT) and decentralised finance (DeFi). Additionally, it hosts smart contracts, which enable individuals to enter into safe and secure agreements without the assistance of a third party, such as a lawyer.

Additionally, because the Ethereum blockchain is open source, anyone can create new decentralised applications. Because all applications on the Ethereum blockchain require the use of Ether, Ethereum will benefit if one of these dApps is successful.

One disadvantage of Ethereum is that it currently relies on the energy-intensive Proof of Work (PoW) mining protocol. Cryptocurrency miners must use powerful computers to solve puzzles and verify transactions using this protocol. As time passes, these puzzles become increasingly difficult, requiring an increasing amount of energy.

However, Ethereum developers are currently working on a PoS protocol that is significantly more environmentally friendly. With a PoS protocol, miners are required to stake some of their cryptocurrencies in order to verify transactions and earn rewards. While moving to a PoS model is a wise move for Ethereum, there will almost certainly be growing pains along the way.

Investing in Cardano: the advantages and disadvantages

Cardano Because it was created by one of Ethereum's co-founders, it bears numerous similarities to its predecessor. It does, however, have some distinct advantages and disadvantages.

Cardano, like Ethereum, enables users to create decentralised applications (dApps) on its network. THEOS, an NFT marketplace, and Indigo Protocol, which will enable users to trade real-world assets (such as stocks) on the Cardano blockchain, are two of the projects currently in development.

Unlike Ethereum, Cardano already employs a proof-of-stake mining protocol, giving it an advantage over its rival. While it may take months for Ethereum to fully transition to a PoS model, Cardano is already doing so successfully.

With that said, Cardano is still in its infancy and will take time to catch up to Ethereum in other ways. While Ethereum and Cardano share many features, Ethereum has a longer track record and is currently more popular with users.

This does not mean, however, that Cardano will never be able to compete with Ethereum. Cardano has grown significantly in terms of transaction volume and market capitalisation over the last year, and if it continues to improve, it may gain an advantage over Ethereum.

Which cryptocurrency is the best fit for you?

Although both cryptocurrencies are risky, Cardano may be a higher-risk investment at the moment due to its youth and lack of a track record comparable to Ethereum. Cardano, on the other hand, has some advantages, and if you're willing to take on additional risks and maintain long-term investments, it may be the right choice for you.

Wherever you decide to invest, keep a long-term perspective in mind. Cryptocurrencies are notoriously volatile, and any investment is likely to experience ups and downs in the short term. However, by investing in high-quality assets (e.g. Ethereum and Cardano) and focusing on the long term, you increase your chances of seeing positive returns over time.

How to invest in cryptocurrency contract for difference (CFDs)

There are additional ways to invest in cryptocurrencies (Bitcoin, Ethereum, Cardano, Solana, Dogecoin, Litecoin, etc...), but the simplest is through cryptocurrency CFD trading.

One of the benefits of trading cryptocurrencies via CFDs is the ability to trade 24 hours a day, including weekends. Additionally, CFDs allow for 'betting' on both the upside and downside, providing an opportunity to profit (or lose) during both bullish and bearish phases.

Additionally, CFDs on cryptocurrencies offer retail investors leverage of 1: 2. This means that if you invest €1,000, your market position will double to €2,000. While leverage allows you to double your profits, it also exposes you to greater risk if prices move in the opposite direction of the direction chosen.

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What happens if whales are equipped with quantum computers?

The cryptocurrency world is a one-of-a-kind financial wonderland where timing is critical and nothing is certain. When you believe you've got a handle on the market, a billionaire tweets a meme and you're pushed towards one of the margins.

While enthusiasts of rollercoasters and thrill rides may enjoy the experience, investors seeking an escape from the oppression of centralised currency and banking may wish for a less volatile future.

Regrettably, the path forwards is not straightforward. Decentralised digital currencies such as Bitcoin and Ethereum appear to make perfect sense on paper.

If I own a dollar's worth of Bitcoin and the US government decides to deport me and declare my citizenship null and void, I retain that dollar's worth of Bitcoin. However, every penny of fiat currency I currently hold in US markets, banks, 401Ks, and other investments would be completely wiped out.

In a truly decentralised financial paradigm, no single government or other cryptocurrency holder should be able to revoke your holdings.

However, technology is frequently the only thing preventing government agencies from seizing cryptocurrency. What happens if that circumstance changes?

Today, we are assured that our crypto holdings are protected from intrusion, theft, and withholding through the use of literal cryptography. Just as the government is technically unable to read our WhatsApp conversations due to their encryption, it should be unable to access our cryptocurrency holdings.

Furthermore, because Bitcoin and similar massive cryptocurrencies are built on decentralised (but well-managed) blockchain platforms, there is little concern that a government will gain a technological advantage sufficient to seize assets. If, for example, China or the United States develops a quantum computer capable of breaking binary cryptography, the Bitcoin platform is large enough to solicit community support for countermeasures.

However, Bitcoin and Ethereum account for 99.9% of the market. And without cryptography to safeguard the contents of your digital wallet, there is no discernible difference between a complete scam and a genuine cryptocurrency.

If a cryptocurrency is unable to withstand quantum computing attacks from the IRS, FBI, Department of Defense, China's military ministry, and any other entity capable of financing and building a quantum computer, the cryptocurrency's future may be bleak. 

In such a technological paradigm, only a few Bitcoin-sized walled gardens would survive. 

While detractors may point out that quantum computing is still in its infancy, those detractors may not be up to date on the state of the technology.

It does not appear to be a significant gamble to speculate that useful quantum cryptography systems could be fully operational by 2050.

If governments can seize cryptocurrency with even greater ease than they can physically seize people's cash or freeze their fiat accounts, this will be a problem for people who hold crypto solely for its decentralised nature.

The issue is that when only a few cryptocurrencies are available, whales theoretically gain an even greater advantage by effectively becoming "the house."

Elon Musk, for example, can currently sway entire cryptomarkets with a single tweet due to the strength of his position and popularity among crypto enthusiasts.

However, there is some degree of equilibrium in today's market. For every DogeCoin riding the emotional wave created by Elon Musk, there are hundreds of other equally legitimate cryptocurrencies vying for a piece of the next whale's heart and social media feed.

That may seem flippant, but if you're one of the countless individuals who've converted their spare change into Lambo money using nothing more than a couple hundred dollars, a cryptocurrency trading app, and a Reddit account, you probably don't care.

The point is that the current crypto market creates such an illusion of choice that, as long as investors are only interested in short-term financial gain, there is plenty of money to be made by everyone, whether they are guppies or whales.

However, the imminent addition of quantum computers to government agencies has the potential to alter everything. Cryptocurrency holdings currently account for more than 90% of the total funds seized by the IRS in 2020, and the agency anticipates that percentage to increase in the fiscal year 2021-2022. 

We can logically assume that countries such as India, where an outright ban on public cryptocurrencies is currently being considered, and China, where all cryptocurrency activities are currently prohibited, would seize crypto-assets wherever and whenever possible. 

If only the world's largest cryptocurrencies can withstand government seizure and corporate manipulation, even decentralised coins will become artificially centralised in a marginalised market.

When Einstein coined the phrase "spooky action at a distance," he was referring to quantum physics' strange machinations. However, the sentiment holds true for cryptocurrency as well.

It's difficult to envision the next five minutes for the majority of coins. Attempting to forecast the field's future 30 years in advance is impossible.

All we can say with certainty is that actors with a whale position in the fiat market (such as the US government and Elon Musk) are unlikely to abandon it. Whether this results in them cornering or splintering the cryptomarket is determined by their motivations.

Meanwhile, those who support a decentralised cryptocurrency future should urge the communities and development teams behind legitimate coins to begin future-proofing immediately.

If you're waiting for IBM or Google to begin selling quantum computers on Amazon before preparing for the impending encryption nightmare, you're betting on the next 30 years of technological advancements being less eventful than the last.

And, given that Bitcoin was not invented until 30 years ago, that appears to be a huge gamble.

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Bitcoin had a less than convincing weekly close, failing to hold perceived critical support lines. However, at least one prominent analyst believes that a lengthening bull market cycle is unfolding.

Meanwhile, disregarding concerns about "blow-off tops," El Salvador's BTC-obsessed president is planning to construct "Bitcoin City" at the base of a volcano.

At the time of press, the total cryptocurrency market capitalisation is down 3% from yesterday's close, according to CoinGecko data, and is hovering around the US$2.7 trillion mark.

It's predominantly red all the way down the market capitalisation charts, including the top 100 coins. Market health indicators Bitcoin (BTC) and Ethereum (ETH) both fell roughly 4.5 percent over the last 24 hours.

Avalanche (AVAX) has meanwhile broken into the top 10, relegating Dogecoin (DOGE) to the dog house (well, #11) for the time being. Avalanche appears unstoppable at the moment (though it will have to come to a halt at some point), having recently reached another all-time high of US$144.96. It is up about 3% in the last day.

According to the excellent American crypto YouTuber and quantitative data analyst Benjamin Cowen, Bitcoin needed to close the week at least US$59.3k to see likely additional short-term upside. That was the eight-week moving average.

Cowen cites the Bitcoin "bull market support band," which is currently below current levels, as a possible area for the OG cryptocurrency to fall and retest as support. That band is formed by the combination of Bitcoin's 20-week simple moving average and its 21-week exponential moving average, and it is currently forming a range of approximately US$51k to $53k.

He is not predicting that it will fall that low, or that it must, merely that it is a critical area to hold.

Cowen believes that if the eight-week moving average is not quickly reclaimed (which may be slightly higher than $59.3k by the time you hear this), Bitcoin will likely remain stuck for "at least a couple of weeks" between the 20-week and eight-week moving averages.

And that could mean some sideways action between approximately US$53k and $59k.

This weekly close "is not the end of the world," according to the analyst, and "the market's overall structure remains relatively bullish."

He is a strong believer in a lengthening bull cycle this time around and does not believe in another "blow-off top" peak and subsequent market capitulation in December or January, as occurred during the 2017/18 bull market cycle.

Meanwhile, fellow analyst Rekt Capital is looking ahead to Bitcoin's November monthly close. Around US$58,700 is the end-of-month level he believes BTC must maintain in order for the market to maintain its strength as the year draws to a close.

El Salvador continues its celebrations, announcing the establishment of Bitcoin City

Just when you thought El Salvador president Nayib Bukele couldn't get any more bullish on Bitcoin, he announced that his Central American nation, which legalised BTC in September, will build a Bitcoin city... right next to a volcano.

The backwards-cap-wearing president made the announcement on stage at El Salvador's Bitcoin Week 2021 celebration yesterday, amid fireworks and colourful presentations and in front of a crowd of phone-flashing fans.

"Bitcoin City will have its own residential and commercial districts, as well as restaurants and a plaza," Bukele confirmed in a tweet. He also revealed that residents would be exempt from income tax, property tax, capital gains tax, and payroll tax, but would be required to pay a 10% value-added tax to fund infrastructure and services.

Bukele announced that the city will be initially financed with US$1 billion in Bitcoin bonds. And $500 million will go towards energy and mining infrastructure development, with the remainder going towards... you guessed it... was previously used to reinvest in Bitcoin.

Bitcoin City will be built near the Conchagua volcano, with a power plant nearby to provide geothermal energy for the city and for Bitcoin mining.

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Cardano, a futuristic and feature-rich cryptocurrency, is facilitating and validating the crypto adoption initiative. Nonetheless, the price of Cardano's native token, ADA, reflects little of this. At the very least in comparison to other "shitcoins." Perhaps the coin requires something similar to what a few popular altcoins have: spirit and followers. Nonetheless, Cardano is attempting or intends to revolutionise its blockchain by making it interoperable. Even compete with its primary competitor – Ethereum.

The following are a few of the points and ideas that Cardano's CEO discussed during the most recent AMA session.

Charles Hoskinson, one of the most well-known figures on the planet, shared his story about Cardano and its ecosystem.

Cardano's Layer 2 solution was developed concurrently with the blockchain in order to address the blockchain's eventual scalability issues. To begin, rollups. These operate independently of the Layer 1 blockchain. As is the case with the majority of Layer 2 solutions, rollups increase transaction output while lowering gas fees. 'Year after year, they improve. Now, I assert that every system contains some notion of that,' he continued.

"With Mamba, we'll receive free rollups, which means that when the EVM sidechain arrives, those rollup infrastructures can and will be rolled over as a scalability solution for the EVM Sidechain."

Along with this development, the Ethereum Virtual Machine (EVM) sidechain will assist Cardano in enhancing its DeFi space potential. However, the question persists. Is it necessary for Cardano to have roll-ups on the main chain? To be sure, he sees opportunity here. Additionally, he suspects that.

"A number of DEXs are going to move in that direction. Thus, there is something there; it is a purchase rather than a build, as there are already a number of excellent solutions for porting it to L2. We'll start with Ethereum, but it'll be fun to port some of those to the UTXO model."

Cardano takes aim at the sky

As previously stated, the UTXO model combines the best features of Cardano and Ethereum. Hoskinson reiterated or rather compared the same point in a previous interview in order to contrast his platform with its archrival, ETH.

He then discussed zero-knowledge proofs. These have evolved into a critical tool for addressing concerns about privacy and scalability in cryptocurrencies and other applications. Sonic, for example. Similarly, "we've seen a lot of great progress with plonk and a lot of Next Generation ZK material is coming to life," he observed.

As IOHK CEO acknowledged, StarkWare made some interesting design choices. 'From a prescient standpoint, their designs were future proof, as they employ some form of hash-based cryptography, indicating that they are post-quantum. However, Hoskinson added, they are not quite as efficient as the classical ones. This brings us to Cardano's Catalyst fund.

"This is an excellent opportunity for anyone interested in doing something on Cardano once Catalyst funds become available. We'll see a flood of ZK companies enter the market; I believe we're in one of the best positions of any venture in the cryptocurrency space to pursue this."

Additionally, Hydra will be critical, as will Cardano's rapid growth. Hydra increases the network's efficiency by allowing the majority of transactions to be processed off-chain, with the main-chain ledger serving as a secure settlement layer.

The Hydra Head protocol is still in its early stages of testing. While he did not specify a release date, he expressed optimism about the aforementioned developments. Nevertheless, as history demonstrates, some delays are possible. Even November's forking event will be combined with February's timeline for a "larger release," as things stand.

Nonetheless, the HODLers community remains bullish on this cryptocurrency.

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Abidi, 25, was born in Pakistan and immigrated to the United States as a teenager. A few months ago, she created her first NFT – a type of asset that uses blockchain technology to track ownership of digital items such as images, videos, and collectibles.

The activist from the United Kingdom is about to launch Women Rise, a campaign aimed at introducing 100,000 girls and women to cryptocurrency by the end of 2022.

She is one of an increasing number of female artists, coders, entrepreneurs, and investors who embrace cryptocurrency and NFTs and advocate for other women to join the blockchain movement and help close the gender divide in this rapidly expanding space.

"When I first heard about blockchain, I was sceptical that it was a good fit for me.

"However, I was drawn to the art and recognised that artists can contribute to this and that it can be an inclusive space for women and people of colour," she explained via video call.

"NFTs provide an opportunity for individuals who have not previously been able to invest in or sell their artwork in the traditional manner. Because cryptocurrency and NFTs are a means of achieving financial independence, it is critical for women and girls to be aware of them," she explained.

While large institutional investors drove bitcoin to new highs this year, adoption of cryptocurrencies has increased among younger investors and in developing countries, where anyone with a mobile phone can circumvent the formal banking system.

According to platform BrokerChooser, India has the most cryptocurrency owners in the world, with approximately 100 million, followed by the United States with approximately 27 million and Russia with approximately 17 million.

Meanwhile, according to market tracker DappRadar, NFT sales increased nearly eightfold to nearly US$11 billion (RM45.7 billion) in the third quarter of 2021.

However, according to a recent survey by CNBC and Acorn, more than two-thirds of US cryptocurrency investors are men, and about 60% are white, a gender divide that is wider than in other financial investments like stocks, bonds, and mutual funds.

While an Indian cryptocurrency exchange reported that women made up only 15% of its users.

"The crypto world appears to mirror the technology and finance worlds in terms of gender; there are women in the space, but it is heavily male-dominated," said Angela Walch, a research associate at the University College London's Centre for Blockchain Technologies.

"As cryptocurrency becomes more mainstream, it is critical to have a diverse set of perspectives involved in developing and operating the systems in order to make more informed decisions," she said.

Included more

According to the United Nations' technology agency, fewer than half of women worldwide use the Internet, compared to 55% of men, with the disparity widening in poorer countries (ITU).

Similarly, according to the World Economic Forum's annual gender gap report, women globally lag behind men when it comes to managing and accessing assets or financial services.

With its decentralised structure, blockchain technology – which underpins cryptocurrency and NFTs – has been heralded as a path to a more just, transparent, and inclusive world.

And cryptocurrencies are rapidly moving from the fringes of finance to the mainstream, as investors, businesses, and governments adopt them as an asset, a payment vehicle, and a hedge against uncertainty and hyperinflation.

Meanwhile, NFTs have attracted celebrities, artists, and investors, with the sale of a digital collage for more than US$69 million this year recording the highest-priced NFT sale to date – despite the fact that the number of NFT buyers remains relatively small.

However, while cryptocurrency has attracted a diverse range of demographics, women account for less than a fifth of US investors, according to a CNBC poll.

Black women – who have historically been excluded from a variety of investment sectors – account for just 4% of cryptocurrency investors.

This is why Lavinia Osbourne, a British entrepreneur, founded Women in Blockchain Talks as a space for women. She also plans to launch an NFT marketplace for female artists, entrepreneurs, and collectors called "Crypto Kweens."

"Inequity is ingrained in society in such a systematic way that people bring their prejudices into every aspect of life," she explained, adding that she had encountered bias "dripping with racism."

"This is why it is critical for diverse voices to be included in the blockchain conversation – otherwise, we will see a replication of the inequality that exists elsewhere," she said.

Towards progress

Women NFT artists and collectors use Twitter handles such as @crypto chicks, @NFTgirl, and @BTCbombshell to promote their work and encourage one another.

Numerous women and girls-related charities are also supported by many.

Their work is gaining attention: last month, the New York Stock Exchange displayed a physical version of an NFT from Boss Beauties, a collection of 10,000 NFT portraits of women.

While Tavonia Evans, a data scientist based in the United States and known on Twitter as @cryptodeeva, created Guapcoin, a cryptocurrency designed to "amplify the economic voice of the Black community."

"The crypto world is an extension of the technology industry, which has a massive diversity gap," she explained, adding that access to capital remains a significant barrier for women of colour.

"That is why we founded Guapcoin – to focus on our own underserved community and do our part to close the divide," Evans explained. Evans is a member of the National Policy Network of Women of Color in Blockchain, which advocates for greater inclusion.

These types of efforts will contribute significantly to closing the gender divide in blockchain, according to Walch.

"There are a number of well-respected female leaders in the crypto space who wield significant influence within the industry and have credibility with policymakers," she explained.

"Their success should serve as an inspiration for other female crypto enthusiasts."

While many prominent female cryptocurrency investors and artists are based in the West, more women are entering the space in countries such as India, where artists such as Sneha Chakraborty and 14-year-old Laya Mathikshara are rapidly gaining traction.

"When I first started, it took me a long time to find women, particularly women of colour, and to get my questions answered," said Abidi, who was looking forwards to meeting many of her peers at the National Federation of Teachers' annual conference in New York City.

"However, once you get past the white male gatekeepers, you'll discover a wonderful community of women." "I believe cryptocurrency has the potential to make a significant impact on women's rights," she stated.

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* Mastercard noted that adoption rates for emerging payment options such as cryptocurrencies have historically been higher in Asia.

* Consumers in Thailand and India are more accustomed to using cryptocurrencies than those in a highly developed market such as Australia.

* With nearly every central bank exploring or testing CBDC, Mastercard remains optimistic about its widespread adoption sooner rather than later.

Whatever your position on cryptocurrencies, the fact remains that these digital assets are gradually establishing a foothold in the world of payments. Simply put, cash will not always reign supreme, and that is a belief shared by Mastercard, a global payments leader. Indeed, Mastercard has begun offering its customers access to cryptocurrency-linked debit, credit, and digital wallets, as well as loyalty rewards programmes powered by cryptocurrency.

Earlier this month, the multinational financial services corporation based in the United States partnered with three leading cryptocurrency service providers in Asia Pacific to launch the region's first crypto-funded Mastercard payment cards. The digital asset service providers — Hong Kong's Amber Group, Bitkub in Thailand, and CoinJar in Australia — have all begun accepting applications for crypto-linked Mastercard credit, debit, or prepaid cards in their respective markets within the region. They will then be able to instantly convert their cryptocurrencies to traditional fiat currency using these cards.

In an interview with Tech Wire Asia (TWA), Rama Sridhar, executive vice president, digital & emerging partnerships and new payment flows, Mastercard Asia Pacific, discussed the company's strategy in the digital assets space, focusing on cryptocurrencies and central bank digital currencies (CBDCs).

Mastercard was the first to enter the western market with cryptocurrency products and services. How has acceptance been so far, and how do you anticipate it will be in the Asia Pacific markets?

Globally, the Asian region has always had a higher rate of adoption of emerging payment options. There are, however, a few reasons why Asia is the world leader in this regard. To begin, according to Mastercard's New Payments Index, 94 percent of consumers in the Asia Pacific region are considering using emerging payment methods this year.

According to Mastercard, emerging payment methods include QR codes, digital wallets, buy-now-pay-later (BNPL) transactions, cryptocurrencies, and biometric authentication. Having said that, the desire and enthusiasm for adopting a new payment method is extremely strong in this part of the world. The second factor is a sizable Asian population that operates completely cross-border, whether through online purchases or physical travel. As a result, expectations for a more global, seamless, and interoperable framework are higher in Asia than in the majority of developed Western economies. Right.

Which country in the Asia Pacific region does Mastercard consider to be the most cryptocurrency-accepting?

In comparison to a highly developed market like Australia, there are more consumers in Thailand and India who are very comfortable using cryptocurrencies. Even Vietnam and Indonesia are growing at double-digit rates at the moment, which bodes well for emerging payment methods.

This in and of itself speaks volumes about Asia's developing economies, where the cash runway is extremely long. Not to mention the fact that, according to the United Nations, over 60% of the world's youth live in Asia-Pacific, totalling over 750 million young women and men aged 15 to 24 years.

Now, as cryptocurrency matures over the next three to four years, many of these play people will be adults or will have begun their careers. In summary, Asia Pacific is demographically primed for higher adoption rates, which is probably the most accurate assessment. As nearly 30% of the global value of crypto transactions occurs in Asia, the region is destined to be the global leader when it comes to the future of money.

What was the tipping point at which Mastercard decided to incorporate cryptocurrencies into its payment network?

Mastercard's position on cryptocurrencies is fairly straightforward: it is a matter of choice. We are not recommending that you begin using cryptocurrencies. However, we are here to enable customers, merchants, and businesses to move digital value in any way they choose – traditional or crypto. It should be your decision; after all, it is your money.

Within the Mastercard network, we observed a significant increase in the number of people using cards to purchase crypto assets, particularly during Bitcoin's recent price surge. Additionally, we are seeing an increase in users using crypto cards to gain access to these assets and convert them to traditional currencies for spending.

Above all, we have been and will continue to be extremely selective about the assets we support, guided by our digital currency principles, which prioritise consumer protection and compliance. Currently, we have partnerships with over 30 crypto card programmes, and to be clear, not all of today's cryptocurrencies are supported on our network and will be in the future.

However, stablecoins, which are backed by a basket of fiat currencies or a single fiat currency, are gaining significant acceptance. To top it off, stablecoins are more regulated and reliable than they have been in the recent past, and it is these very stablecoins that we intend to integrate into our network.

Tell us more about your thoughts on CBDC and the "safe space" that Mastercard provides for governments and private sector banks to work out how they work.

We announced this proprietary testing platform for central banks last year. It essentially allows central banks to engage in a simulated environment where they can issue currency and distribute it among banks, financial institutions, and consumers in order to fathom how it would work in the real world. This will enable banks to identify and strategise the optimal regulatory environment in which to launch central bank digital currencies (CBDCs).

To be honest, almost every central bank is investigating CDBC today, not because they want to issue it immediately, but because it is proving to be a necessary component of the ecosystem. With that in mind, developing the framework, the rules, and determining the most effective method is simply a matter of time. And for Mastercard, anything the central bank does on a principled basis will automatically be assumed. That is how our collaborations progress.

Central banks in all developing economies, and particularly in Asia, are focusing their efforts on going cashless. As a result, many central bankers believe that CBDCs have the potential to significantly increase the number of people who use the digital financial system.

Transparency is the other real issue on central banks' agendas. As a result, all governments and regulators are moving in this direction. Yes, this is not the only way to do it, but it is a good way to do it because it enables rapid access to currency for populations where physical cash circulation is restricted.

Do you believe that a CBDC future will arrive sooner rather than later?

CBDCs are the way forwards to facilitate digital transformation, financial and digital inclusion, and the elimination of cash. Will it occur within the next two or five years? Unfortunately, I cannot predict, but I believe that a great deal of framework and work is required. Without a doubt, there will be numerous debates between central banks about the virtues and demerits of how things should be managed. They will need to ensure that other established payment ecosystems coexist peacefully with CBDCs.

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Since its inception, the crypto king has seen a plethora of changes. Numerous comparisons, falsehoods, regulatory pressure, and so forth. All of these factors could result in either a surge or a decline in Bitcoin and its price.

Bitcoin: a digital currency

In a CNBC interview, Microstrategy CEO Michael Saylor advanced his narrative. He discusses various aspects of BTC. According to him, regardless of the opposing party, the flagship token is the winner.

At the time of publication, MicroStrategy, a software company, was the largest Bitcoin HODLer. It currently holds over 114k BTC, or approximately.54 percent of the total BTC supply. That is not the case. 'We are going to continue stacking indefinitely,' Saylor added.

Following that, he discusses the rivalry between digital Gold and physical Gold. He stated as follows:

"It is fairly obvious that Bitcoin is winning and gold is losing... and it will continue... It's pretty clear that digital gold will supplant physical gold in the next decade."

Saylor has previously echoed the same narrative.

"Bitcoin has supplanted, is supplanting, or is in the process of supplanting gold as the primary store of value for the majority of investors."

As things stand, the debate looks as follows:

The majority of investors, including well-known'Gold bugs,' painted a bullish picture of digital gold. It has a long way to go, however, before it can dethrone the precious metal. However, benefits such as ease of transfer and low storage costs keep BTC on track.

Regardless, when asked about the future of the largest token, Saylor expressed the following:

"By the end of the decade, it will have flipped gold, monetary indexes, a small amount of bonds, a small amount of real estate, and a small amount of equity, and will have emerged as a $100 trillion asset class." As a result, it will be 100X larger than it is now."

Having said that, Bitcoin was not in direct competition with gold. It faced additional adversaries, including the global economy. The major currencies were the US dollar, the euro, and the Chinese yuan. Nonetheless, Bitcoin will continue to be unstoppable as a digital asset.

"When we arrive, it will account for between 5% and 7% of the global economy. The US dollar is likely to supplant 150 currencies. Perhaps there will be only two or three remaining. There may be a euro, a Chinese yuan, and a dollar. Everything else is almost certainly going to vanish. And at that point, Bitcoin will serve as the global monetary index."

Even though BTC has made a compelling case against weak currencies such as the Turkish Lira, the top three currencies position remains a far-fetched fantasy. However, it is not impossible.

However, as a result of the ongoing volatility and consolidation phase clock, BTC dropped to the #14 position. At the time of press, it was trailing the Swiss franc.

Overall, despite its promising potential, BTC faces another impediment – regulation. Previously, former Democratic presidential candidate Hillary Clinton raised concerns about the biggest nail in BTC's coffin.

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Commercial banks in the country have instructed their employees to begin monitoring accounts suspected of being used for cryptocurrency trading.

This was done in accordance with the Central Bank of Nigeria's (CBN) directive regarding this development.

The CBN took action against cryptocurrency trading in the country earlier this year, instructing banks to close the accounts of individuals engaged in cryptocurrency transactions. It then frozen the accounts of a number of individuals and businesses that it claimed were in violation of the directive.

According to an internal memo obtained by LEADERSHIP, staff at one of the country's commercial banks were directed to begin monitoring accounts with high volume transactions or those suspected of being used for cryptocurrency trading.

According to the memo obtained by LEADERSHIP, "we wish to reiterate that the CBN is closely monitoring non-compliance with the directive on the closure of all cryptocurrency-related accounts for the purpose of imposing severe regulatory sanctions."

"In light of the foregoing, all staff members are hereby advised to identify entities transacting in or operating cryptocurrency exchanges within their systems and to immediately close such accounts."

"Any member of staff who wilfully fails to disclose a cryptocurrency account in order to close it will be sanctioned in accordance with the bank's sanctions grid."

All bank employees are expected to participate in monitoring accounts, transactions, and customers in order to keep the bank safe and secure from criminals, organised gangs, money launderers, and financiers of terrorism."

Accounts with a high volume of daily transactions without a regulatory payment licence, as well as those with virtual or cryptocurrency in their memorandum of association, would be flagged.

Additionally, personal accounts used for business purposes, accounts with a high volume of daily inflow and outflow, and small businesses with daily transactions that exceed what is normal.

Accounts that receive significant inflows from a variety of payees and also make multiple outflows to a variety of beneficiaries should also be flagged.

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Cryptocurrency transactions are at an all-time high due to rising adoption and a surge in DeFi activity. As a result, the most popular network, Ethereum, has become congested inadvertently. This has resulted in the rise of layer-2 scalability solutions such as Polygon, which provide faster and more affordable transactions.

Naturally, cryptocurrency exchanges are integrating these protocols as a result of increased user demand and personal growth. While this includes prominent decentralised exchanges (DEXs) like Sushiswap and Aave, Uniswap has yet to integrate Polygon into its network. The team behind the L2 solution has now submitted a proposal to the Uniswap Governance Forum for the purpose of deploying the Uniswap protocol on Polygon.

Scalability solutions reduce the load on Ethereum's mainnet, making transactions more affordable and faster. According to the proposal, Polygon's protocol currently has a value of around $4.77 billion, making it "the second strongest DeFi ecosystem, right behind Ethereum L1."

Polygon's rapid growth over the last year has resulted in partnerships with top Ethereum L1s such as Aave, Curve, and Sushiswap, as well as numerous smaller DeFi projects, according to the proposal. Additionally, it stated that Polygon's DeFi eco-system is "self-sustaining," as the company recently discontinued all liquidity mining incentives. Despite this, "we continue to see capital and user inflows, as well as extremely high user retention," the company added.

Additionally, the proposal detailed the benefits that Uniswap could derive from this deployment, including user growth comparable to that of Aave, which reached 700,000 active users on Polygon PoS. Additionally, it noted that lowering the fee would encourage more users to interact with the network, which would result in increased user activity.

To entice the DEX even more, the Polygon team has proposed incentivising Uniswap adoption on Polygon, as the ecosystem would feel "incomplete" without DeFi's "flagship project." It stated in detail,

"We could consider allocating a sizable portion of our treasury capital to encourage liquidity. Second, we can use a variety of non-monetary activities to aid in the growth of Uniswap on Polygon."

This includes involvement in the design and implementation of liquidity mining campaigns, as well as the promotion of Uniswap V3 as a "money lego."

A similar proposal was previously made by members of the Uniswap community and garnered widespread support.

In addition to the DEXs mentioned previously, centralised exchanges are integrating Ethereum scalability solutions. Only yesterday, Crypto.com announced that its users can now deposit and withdraw ETH via Polygon.

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With Bitcoin's recent price decline, there have been conflicting views on whether the cryptocurrency is bullish or bearish. At the moment, the Bitcoin fear and greed index indicates that the coin has reverted to neutrality at 49. Could the market crash forecasts be a hoax?

Concerns about a Market Crash

Robert Kiyosaki, author of Rich Dad Poor Dad, expressed one of the most popular views on a market crash, predicting that the price of gold and the stock market would crash in October. Although there hasn't been a significant drop on the scale of a "market crash," the price of Bitcoin has dropped from $69K to $55K in just a few days.

However, when the term "market crash" is defined, there has been a significant drop in the price of Bitcoin. According to Investopedia, a market crash is a sharp and, most often, unanticipated decline in the value of an asset. However, there is no specific quantitative method for determining whether a market crash occurred or not.

Support for Bitcoin begins at $53K.

According to an article by CoinTelegraph, Peter Brandt, a veteran trader best known for correctly forecasting the 2018 crash, stated in October that the price action of Bitcoin could either become bullish or "morph into a larger congestion." Bitcoin's price soared above $69,500 in November, setting a new all-time high.

During Bitcoin's bearish price movement following its new all-time high, CoinDesk noted that the next support level may be at $53K. The coin fell to $55K but failed to reach the $53K price point.

Prediction of the Bitcoin Price

If Bitcoin exceeded $53K, it would have breached its support, potentially pushing the cryptocurrency lower. As of this press, the BTC/USDT pair on Binance shows Bitcoin trading in the mid $59K range, with the RSI reading around 44 over a 24-hour period.

Bitcoin's next hurdle to overcome in order to reclaim its bullish state is $60K, which is not far from its current price. According to a tweet by @BitcoinFear on Twitter, the coin's status on the Bitcoin Fear and Greed Index is now 49.

Tesla and China's Influence on Cryptocurrency

Bitcoin recently fell to 34 on the Bitcoin Fear and Greed Index before climbing to 43 and now 49. The currency is now officially in a state of "Neutrality," positioned squarely between Fear and Greed.

According to NationalWorld, a summer crash occurred as a result of Tesla's decision to discontinue accepting Bitcoin payments three months after the company purchased a massive $1.5 billion worth of the cryptocurrency. Additionally, the publication noted China's move to tighten its grip on cryptocurrency use in the country by prohibiting crypto mining and prohibiting banks and financial institutions from catering to cryptocurrency users.

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