Dear Valuable Clients,
We aim to present you on a monthly basis some key insights which might be helpful for you.
Overall take-home message:
Bitcoin seems to follow the plan and is holding the level. Looking at BTC there seems to be an very interesting pattern in regards to the yearly candles:
Looking at Ethereum we are still somehow in a holding pattern waiting for the impact “The Merge” might have. There are various predictions out there from pessimistic to optimistic in regards to “The Merge”. The greatest question that remains is the risk of a split of the ETH community in an ETH-Classic and an ETH 2.0 community. Would this have a price impact?
What is “The Merge”?
The Merge is an upgrade on Ethereum platform that will merge Ethereum Mainnet with the Beacon Chain, marking a transition from proof-of-work (PoW) to proof-of-stake(PoS). In simple words: The Merge is an Ethereum upgrade which moves from mining (high energy consumption) to staking. Following The Merge Ethereum should become a lot greener lowering its energy consumption by 99,95%.
There are always trades and opportunities but sometimes you are better off just waiting!
1) What happened last month?
Mastercard and Binance announced a huge corporation rolling out a Crypto Card. The partnership was announced on 4th of August and the program is going to be rolled out in Argentina. With this partnership all Binance Card holders will be able to make purchases with cryptocurrencies at over 90 million merchants worldwide.
Cyber attacks targeting blockchain projects are becoming more popular. According to the REKT database, around $2.1 billion have been stolen in 2022, which does not include the Luna implosion of $40 billion. Looking at some of the biggest hacks this year:
Solana Wallet Hack ~ $7 million
Nomad Hack ~ $190 million
Axie Infinity Ronin Bridge Hack ~ $625 million
Wormhole Cross Chain Bridge Hack ~ $325 million
Ethermine, the largest Ethereum mining pool, will phase out operations as soon as ETH on 15th September transitions to a proof of stake blockchain.
Cardano Vasil hardfork initially was planned to happen in June 2022 but was moved several times. On 26th August 2022 Charles Hoskinson announced that the hardfork will happen around the 15th September 2022.
What is Cardano’s Vasil Hardfork?
The short answer is an upgrade for the Cardano Blockchain. It is the second significant upgrade, which focuses on overall network stability and connectivity. Vasil Cardano will receive a higher throughput and an enhanced range of DeFi, DEX and smart contracts.
2) Where do we stand?
Currently we are at a peak inflation and at a peak energy crisis, but we are starting to see signs that prices in gas, oil and energy will be falling down which probably will lead to reduced CPI and deflation. As per Holger Zschaepitz: “The Power Price Bubble continues to deflate. German 1 year power price drops another 7% and is now down 49% from it’s all time high.” Taking those numbers into consideration we can expect a relief in the markets and cryptos going up.
3) Outlook: What could happen?
Past months have been hard for investors around the globe but as of today it looks like we are starting to see light at the end of the tunnel. There is a high possibility of seeing a tough September 2022 but we should expect a much more prosperous October. The two major Blockchain updates in September, ETH and ADA, will allow us to benchmark the investors sentiment and make clearer predictions for the last quarter of 2022.
September is looking like a month where we could consider taking a break. Our main focus should be on chopping and staying in range. This seems perfect for small profits that should be taken early and often.
Offer Of This Month
The First Free Consulting Call:
This month we offer a free 30 min consulting call for you or friends of your network you want to refer to us. Please feel free to share the link within your network or use it yourself.
Free Consulting Call Link: https://calendly.com/ptgrag-consulting/freeconsultingcall
In addition we will be holding our bi monthly for german speakers Webinar on 15 September 7pm CET. This time we are going to focus on PTGR AG and how we are generating unique value to our clients and customers. We are looking forward to welcoming you to our Webinar. If you have any contacts that might be interested in the topic please do not hesitate to share the invite. Here is the link to our Webinar.
Cube Token and Dash Review
CUBE is an ERC-20 token (on Ethereum) and serves as the Somnium Space platform’s native utility token. Assets from within Somnium Space can be bought and sold through CUBE. Ultimately, CUBE’s value will depend on the growth and usage of Somnium Space. The more people use this metaverse space, the higher the need for CUBE as the metaverse’s transactional unit.
The overall potential of Somnium Space is related to how strong virtual metaverse worlds will catch on going forward. With VR and VR gaming seeing continuous growth as a technology it is likely that blockchain-based metaverses will grow in popularity too. Being based on blockchain technology, they allow for virtual asset ownership. It’s probable that digital property rights will be in higher demand in the future.
Somnium Space’s competitors are projects like Decentraland, Crypto Voxels, or the Sandbox. As with general gaming, it might certainly be the case that there won’t be one metaverse dominating but a few projects that might catch on. One interesting fact about Somnium Space is: They allow players to perform an automatic recording mode of themselves on their own property. Through future AI analysis players can bring themselves alive within Somnium. Also, Somnium Space has increased the utility of their CUBE token as players can use CUBE to produce their own full-body avatars on the blockchain as an NFT.
Potential: Medium. Metaverse as a promising field but facing high competition
Risk: Medium to High
DASH is one of the older cryptocurrencies, having been created in 2014. The cryptocurrency was founded as a transactional cryptocurrency with privacy features that was forked from the Bitcoin protocol.
DASH is the coin behind the Dash blockchain. DASH represents a transactional unit that is supposed to function as a medium of exchange. As a blockchain, Dash is made up of two tiers. The first tier is a proof-of work layer that allows for DASH mining. The second tier is made up of masternodes. These masternodes are responsible for Dash’s InstantSend and privacy features, and also have governance and funding proposals rights.
Because Dash has been around for years, it has been adopted by a few early crypto enthusiasts. They have bought in when prices were comparatively low. This is why, many of the early dash users and investors are still in profit to this day, which also incentives them to push for Dash adoption. Because of this early starter advantage, Dash is also integrated into quite a few crypto ATMs. Also, Dash was initially used in Venezuela to counteract hyperinflation. Nowadays, other cryptocurrencies have become more popular in Latin America and Dash has mostly been crowded out. Also, when it comes to its privacy features, Dash does not seem to have a considerable edge compared to other privacy-focused cryptocurrencies. As such, the project might not have such great potential, while its risk might also be low because most of the Dash community will have the ability to stick around for quite a long time since they have been invested from early on.
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