Crypto Hebdo: From Aptos’ Bad Start to THE Protocol’s Crazy Growth – BeinCrypto

Last week, former Diem contributors launched their cryptocurrency, Aptos, after four years of development work. Unfortunately, the beginnings of the project were not the most glorious. The APT token lost 40% in the space of 24 hours. Yet one meme-corner took 4,500% thanks to a tweet from Vitalik Buterin. Among other things, a study shows that Bitcoin is less volatile than the SP 500. We will end the weekly with the statement of the boss of Walmart on crypto-currencies.

Complicated beginnings for Aptos

Announced as one of the projects that will mark the world of crypto, Aptos is having a difficult start. Launched on October 18, the project was quick to attract the biggest exchanges on the market. Binance, FTX, Coinbase promised they would launch crypto soon. We were already expecting a return to the Internet Computer for Aptos. However, an event was to topple all the enthusiasm for the project of the former Diem contributors.

Within a day of rolling out its mainnet, Aptos’ tokenomic leaked onto the market. It has been the subject of serious controversy because much of it is confusing. According to the document, more than 50% of the tokens must be allocated to the “community”. In fact, the word “community” was going to cause a lot of problems because according to many observers, it is an embellished way of justifying the remuneration of venture capital.

Thus, the criticisms started raining down on Aptos. Some exchanges understanding that there might be a big move in crypto have decided to issue APT perpetual contracts. So, not surprisingly, the price of the token lost more than 40% after its IPO.

To learn more, read the following articles:

👉: Aptos (APT): Why all the fuss over Diem alumni cryptocurrency?

DIE explodes after Vitalik’s tweet

A new coin meme is packing the crypto market. Its course took 5,500% in the space of 12 hours. This is DIE Protocol, or Le Protocol in French. The “shitcoin” originated from a joke by Vitalik Buterin on Twitter. Indeed, the latter had, in a post written in German, ironically asked his followers if they would like him to launch a project called “The Protocol”. Without much delay, developers quickly launched the meme-corner “Die Protocol in reference to the idea of ​​the creator of Ethereum.

The token gained 5,500% after its launch on the exchange. The cryptocurrency has a capitalization that exceeds $10 million. However, Bubblemaps revealed that 15 wallets hold 20% of the DIE tokens in circulation.

To learn more, read the following articles:

👉: Born from a Vitalik Buterin joke, this memecoin soared 5,500% in 12 hours

The noh 1 of the crypto market fluctuated less than the SP 500 in October

The overall bearish trend continues to weigh on risky assets. While a rebound at the beginning of the month presaged a reversal of the situation, the acceleration of inflation swept away the recovery under fear of continued rate hikes by the various central banks. However, one statistic would surprise investors.

The realized volatility of Bitcoin in 20 days is below that of the SP 500 and the Nasdaq. Even more surprisingly, a researcher from Kaiko’s firm found that: “The spread of 30- and 90-day volatilities between BTC and stocks has also narrowed since the second half of September.”

Faced with this observation, some are wondering if the biggest project in the crypto market is not in the process of breaking away from the stock market indices, with which it has shared very strong correlations for almost two years. In any case, Mike McGlone thinks that by forcefully preserving the $19,000 zone, Bitcoin could take over the SP 500. He thus stated:

Bitcoin at $19,000 Could Take Over the S&P 500 at $3,600 – #Bitcoin’s Lowest Price Ever From Its 200 Week Moving Average & The Fact That The Oct 18th Level Is Around four times higher than the Q1 2020 closing low could signal a lasting bull market after a steep discount.

To learn more, read the following articles:

👉: Bitcoin less volatile than the SP 500? A first since October 2020

Walmart boss sees cryptocurrencies revolutionizing payments

In his address to the Yahoo Finance All Markets Summit, Walmart CTO Suresh Kumar said cryptocurrencies will have a disruptive effect on payment systems around the world. According to him, digital coins will play an important role in the daily lives of online customers.

“Cryptocurrencies will be an important part of how customers transact. We want to make sure the process is as smooth as possible for customers…so they can get value out of it.”

would he have said

Suresh Kumar also gave his thoughts on the potential of the metaverse. According to him, part of customers’ lives will take place within immersive worlds. A sector in which Walmart is interested, because since 2021, the company would already have several patents related to the metaverse. Last month, he even launched lands (virtual lands) and a Walmart’s Universe of Play game on the Roblox app.

To learn more, read the following articles:

👉: Walmart official says metaverse and cryptocurrencies will play a role in user experience

Other news in the crypto universe

  • According to statistics provided by DappRadar, the volume of transactions at the project level of the metaverse went down of 91.61% during the third quarter.
  • Holdonaut won his defamation lawsuit against the impostor Craig Wrightwho claims to be the creator of Bitcoin.
  • Ripple eventually managed to recover William Hinman’s documents as part of his legal battle with the SEC.

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Crypto Hebdo: From Aptos’ Bad Start to THE Protocol’s Crazy Growth – BeinCrypto


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