BTC's Aug-Sep Dump? & Modular / ZK Blockchains: Navigating The Summer Markets.
Coinbase Enters Canada, Bitcoin's Downturn and Expert discussions on Modular Blockchains
While Bitcoin hasn't experienced significant movement this summer, the world of Web3 has been abuzz with activity.
In this episode, I delve into the technical analysis and market trends surrounding Bitcoin and some promising mid market cap coins. On the interview front, I've had enlightening conversations with numerous remarkable blockchain experts, blockchain bridge developers, and financial professionals who share their insights on capitalizing on opportunities within the blockchain industry. This episode is quite extensive, so fasten your seatbelts and make sure not to miss out on the valuable insights.
Let's kick off by discussing recent conversations I've had with industry experts.
Our journey begins with Bill Wolf from Archblock. With over 30 years of experience in traditional finance, Bill transitioned into the blockchain realm as an investor in a blockchain project. His realization of its immense potential led him to take on the role of Chief Investment Officer.
During our discussion, he explores the future of financial instruments, Central Bank Digital Currencies (CBDCs), stablecoins, the competition between the USA and China in financial innovation, and more. If you're interested in gaining insights from the perspective of a sharp and experienced Traditional Finance (TradFi) expert, I highly recommend watching this interview.
Blockchain Bridges: Safely Moving Crypto Between Chains
To discover the secure process of bridging crypto assets to other blockchains and effectively connecting with nascent chains, I invite you to watch my insightful interview with Wormhole. Significant profits have been generated by those who proactively adopt emerging blockchains, necessitating early asset bridging to these new networks.
Wormhole stands as the most reliable blockchain bridge, but offers much more than that. Understanding the mechanics of bridges, asset movement to new chains, and integration with Layer 2 networks like Arbitrum, Optimism, and the BASE chain — all of which are experiencing substantial capital inflows through bridges — is pivotal. In our discussion, Wormhole's Dan Reecer adeptly explains these concepts and more.
Modular Blockchains: Pioneering the Future?
Equally imperative is the exploration of Layer 3 modular blockchains and their role in supporting Layer 1 networks such as Ethereum. Consider the case of SKALE Network, presently valued at $130 million with a past peak of $1 billion. Despite its early stage, there's strong potential for the network to regain and surpass its previous size. Watch the video to find out more about “What is a Layer 3 and What is Modularity?”
In the previous week, I had the privilege of speaking with another modular blockchain, Aleo. Positioned as an Ethereum-like platform, Aleo boasts integrated privacy features and cutting-edge zero-knowledge proof technology.
Notably, despite the challenging fundraising landscape of 2022, they remarkably secured $200 million in a series B funding round. Their coin and mainnet are still pending launch, making them a promising entity to watch closely. I encourage you to listen to my discussion with Aleo to gain valuable insights.
Be sure to subscribe to the newsletter to see the best of my interview for next week.
Other Crypto News:
BASE chain from Coinbase built on the Optimism Layer 2 network starts getting wild attention after memecoins are created and 100M+of capital flows into the chain.
HEX and PulseChain founder Richard Heart is sued by the SEC for securities fraud.
Coinbase enters Canada, considering it the world’s third most aware nation on cryptocurrencies: article.
SBF Goes back to Jail for tampering witness evidence after being out on bond, rumoured to have made over 100 calls to the press to and release personal information about his CEO Caroline Ellison.
SBF also indicted on new charges for donating $100 million in stolen customer funds to US politicians.
$HBAR token has surged over 15% after the U.S. Federal Reserve’s instant payments FedNow added ‘Dropp” to their platform, a Hedera based service provider.
Market Analysis:
Bitcoin has been exhibiting a multi-month bullish flag pattern characterized by both low volatility and diminished trading volume. Since our last communication, the market has seen relatively weak activity, lacking much excitement. Unfortunately, the prospects for the rest of the August trading month don't appear to be any different.
Historical returns in August for Bitcoin have been bad, and it looks to be around the halfway point of the month (right now) when Bitcoin starts getting even slower as traders take time off to enjoy the rest of the summer.
With that being said, not everything is completely dormant, and there are traders who are quite eager, managing to find opportunities to invest in projects that are yielding returns this month. For instance, a lower market cap project, #ARC (trading on MEXC), has surged by 500% since the start of August.
Investors with a longer-term perspective who allocate to midsize market cap projects, riskier than Bitcoin yet not entirely novel, have notably been discussing LINK and HBAR recently.
When LINK breaks out of the channel it has adhered to for 464 days, assuming a positive breakout, it could potentially revert to its all-time high price, representing a sixfold increase. With the launch of the CCIP Inter-blockchain Community Protocol for Chainlink’s Oracles, its growth prospects are poised for acceleration.
If you’re curious about HBAR, I’ll leave you to research it (It just broke $0.07!), and there will be more on HBAR in my next newsletter, coming out soon.
That’s all for this episode. Thanks for reading!
-Ashton Addison, CEO of Crypto Coin Show