Wizardia Weekly Crypto News: Edition #4

<h1><span style="font-size: 24pt;"><strong>Wizardia Weekly Crypto News: Edition #4</strong></span></h1> <p> </p> <p><span style="font-weight: 400; font-family: 'courier new', courier, monospace;">&#129497;&zwj;&#9794;&#65039; Welcome to the fourth edition of Wizardia Weekly Crypto News, your source for the latest insights into the ever-evolving cryptocurrency landscape. In this edition, we dive into significant developments across various crypto realms. </span></p> <p> </p> <ul> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Ethereum's historic milestone to the 10 billion-dollar club &#128176;&#128176;&#128176;</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">A Billion-Dollar Opportunity with skins &#128142;</span></li> <li style="font-weight: 400;" aria-level="1">Cryptocurrencies Pave the Way for Social Impact &#127760;</li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Bitcoin combating election fraud &#128679;</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">The regulatory winds blowing over crypto &#9878;&#65039; </span></li> </ul> <p><br><br></p> <h1><span style="font-size: 24pt;"><strong>&#128176;Ethereum's Monumental Achievement: $10 Billion in All-Time Revenue</strong></span></h1> <p> </p> <p><span style="font-weight: 400;">Ethereum, the beacon of the crypto realm, has reached a momentous milestone, surpassing $10 billion in all-time revenue. This achievement stands as a testament to Ethereum's relentless growth and its pivotal role in shaping the blockchain ecosystem. </span></p> <p> </p> <p><span style="font-weight: 400;">The catalyst behind this remarkable feat is Ethereum's impending merge with the Beacon Chain, a transition poised to revolutionize the network.</span></p> <p> </p> <p><span style="font-weight: 400;">The Ethereum merge, anticipated for September or October 2023, promises transformative changes. First and foremost, it is set to enhance Ethereum's scalability and operational efficiency, making it even more enticing for users and developers. </span></p> <p> </p> <p><span style="font-weight: 400;">Moreover, the merge aims to address the pressing issue of energy consumption, positioning Ethereum as a greener and more sustainable blockchain solution.</span></p> <p> </p> <p><span style="font-weight: 400;">Ethereum's journey to $10 billion in cumulative revenue has been nothing short of spectacular. In a mere 7.5 years since its launch in 2015, it outpaced tech giants like Meta (formerly Facebook) and Microsoft in reaching this financial zenith. </span></p> <p> </p> <p><span style="font-weight: 400;">This remarkable growth primarily stems from transaction fees and various activities on the Ethereum network, spanning from decentralized finance (DeFi) interactions to the creation and exchange of non-fungible tokens (NFTs).</span></p> <p> </p> <p><span style="font-weight: 400;">However, it's essential to acknowledge the volatility that has accompanied Ethereum's ascent, with a revenue decrease of over 77% amid the recent crypto market downturn. Yet, optimism persists as forecasts suggest Ethereum's network revenue could skyrocket to $51 billion annually by 2030 if adoption trends persist.</span></p> <p> </p> <p><span style="font-weight: 400;">The</span><a href="https://wizardia.io/blog/ripples'_case"><span style="font-weight: 400;"> rise of Rippl</span></a><span style="font-weight: 400;">e and alternative layer ones</span></p> <p> </p> <p><span style="font-weight: 400;"><picture><source srcset="https://wizardia.io/images/blog/thumb/eth-855.webp 576w, https://wizardia.io/images/blog/inner/eth-855.webp " type="image/webp"></source><source srcset="https://wizardia.io/images/blog/thumb/eth-855.jpeg 576w, https://wizardia.io/images/blog/inner/eth-855.jpeg " type="image/jpg"></source><img srcset="https://wizardia.io/images/blog/thumb/eth-855.jpeg 576w, https://wizardia.io/images/blog/inner/eth-855.jpeg " alt="" loading="lazy" width="900" height="600"></picture></span></p> <p> </p> <p> </p> <h1><span style="font-size: 24pt;"><strong>&#128142; The Enigmatic World of Counter-Strike (CS) Skins</strong></span></h1> <p> </p> <p><span style="font-weight: 400;">Counter-Strike, a juggernaut in the gaming realm, boasts a massive player base of approximately 900,000 active participants at any given moment. One of the game's alluring facets is the presence of skins-cosmetic in-game assets with no functional purpose but the power to make players stand out.</span></p> <p> </p> <p><span style="font-weight: 400;">Some CS skins have commanded staggering prices, with certain specimens fetching well over $100,000. The zenith of extravagance in this realm was witnessed in 2022 when a CS skin attracted a jaw-dropping bid of $1.5 million.</span></p> <p> </p> <p><span style="font-weight: 400;">At the heart of this billion-dollar market is DMarket, a blockchain-based marketplace. DMarket not only facilitates the buying, selling, and trading of CS skins but also empowers users to create their own NFTs based on these coveted digital collectibles.</span></p> <p> </p> <p><span style="font-weight: 400;">The platform leverages cryptocurrencies like Bitcoin and Ethereum for seamless transactions and offers superior user experiences, characterized by lower fees, swifter processing, and enhanced security, compared to traditional CS skin trading platforms.</span></p> <p><br><br></p> <p><span style="font-weight: 400;">10 more Ways NFTs Are </span><a href="https://wizardia.io/blog/nfts_art_gaming"><span style="font-weight: 400;">Revolutionizing Art and Gaming</span></a><span style="font-weight: 400;"> Industries</span></p> <p> </p> <p style="text-align: left;"><picture><source srcset="https://wizardia.io/images/blog/thumb/ccccc-936.webp 576w, https://wizardia.io/images/blog/inner/ccccc-936.webp " type="image/webp"></source><source srcset="https://wizardia.io/images/blog/thumb/ccccc-936.jpeg 576w, https://wizardia.io/images/blog/inner/ccccc-936.jpeg " type="image/jpg"></source><img srcset="https://wizardia.io/images/blog/thumb/ccccc-936.jpeg 576w, https://wizardia.io/images/blog/inner/ccccc-936.jpeg " alt="" loading="lazy" width="173" height="173"></picture></p> <p> </p> <h1><span style="font-size: 24pt;"><strong>&#127760; Cryptocurrencies Pave the Way for Social Impact</strong></span></h1> <p> </p> <p><span style="font-weight: 400;">Cryptocurrencies are proving to be formidable tools for fostering social change across the globe. Organizations like GiveDirectly have harnessed the power of crypto to provide direct cash transfers to individuals living in poverty. </span></p> <p> </p> <p><span style="font-weight: 400;">Meanwhile, the World Food Programme utilizes cryptocurrencies to extend vital food assistance to refugees and other vulnerable populations.</span></p> <p> </p> <p><span style="font-weight: 400;">The unique strength of cryptocurrencies lies in their capacity to sidestep traditional financial institutions, enabling direct financial support for those in need. This capability is particularly invaluable in developing nations, where large segments of the population lack access to conventional banking services.</span></p> <p> </p> <h1><span style="font-size: 24pt;"><strong>&#128679; Bitcoin's Battle Against Election Fraud</strong></span></h1> <p> </p> <p><span style="font-weight: 400;">Guatemala has embarked on a groundbreaking initiative, deploying Bitcoin's blockchain technology to combat election fraud. The country's Supreme Election Tribunal is employing the Bitcoin blockchain to cryptographically timestamp official election documents. </span></p> <p> </p> <p><span style="font-weight: 400;">This cryptographic timestamping ensures that the integrity of these documents remains unassailable, as they are permanently imprinted on the blockchain, immune to forgery or tampering.</span></p> <p class="text-center" style="text-align: center;"> </p> <p><span style="font-weight: 400;">What makes this application of Bitcoin technology particularly noteworthy is its focus on technology's efficacy, rather than speculative aspects or price dynamics. It demonstrates the potential of blockchain technology in bolstering transparency and trust in critical processes like elections.</span></p> <p> </p> <p><span style="font-weight: 400;">Learn how stablecoins are </span><a href="https://wizardia.io/blog/stable_coins"><span style="font-weight: 400;">Revolutionizing Finance</span></a><span style="font-weight: 400;"> and Reshaping the Global Economy</span></p> <p> </p> <p><span style="font-weight: 400;"><picture><source srcset="https://wizardia.io/images/blog/thumb/screenshot-2023-09-28-at-144648-5689.webp 576w, https://wizardia.io/images/blog/inner/screenshot-2023-09-28-at-144648-5689.webp " type="image/webp"></source><source srcset="https://wizardia.io/images/blog/thumb/screenshot-2023-09-28-at-144648-5689.jpg 576w, https://wizardia.io/images/blog/inner/screenshot-2023-09-28-at-144648-5689.jpg " type="image/jpg"></source><img srcset="https://wizardia.io/images/blog/thumb/screenshot-2023-09-28-at-144648-5689.jpg 576w, https://wizardia.io/images/blog/inner/screenshot-2023-09-28-at-144648-5689.jpg " alt="" loading="lazy" width="950" height="884"></picture></span></p> <p><br><br></p> <h1><span style="font-size: 24pt;"><strong><span style="font-weight: 400;">&#9878;&#65039; </span>Cryptocurrency Regulation: The Road Ahead</strong></span></h1> <p> </p> <p><span style="font-weight: 400;">Cryptocurrency regulation has emerged as a pivotal point of discussion and action. In the United States, the Securities and Exchange Commission (SEC) is diligently crafting regulations to address various aspects of the cryptocurrency landscape. </span></p> <p> </p> <p><span style="font-weight: 400;">Notably, the SEC has taken legal actions against several cryptocurrency companies for alleged violations of securities laws.</span></p> <p> </p> <p><span style="font-weight: 400;">Simultaneously, the European Union is diligently working on the Markets in Crypto Assets (MiCA) regulation, slated for finalization in 2023. MiCA represents a comprehensive regulatory framework designed to govern cryptocurrencies within the EU, ushering in a new era of compliance and oversight.</span></p> <p> </p> <p><span style="font-weight: 400;">Check out the story of $1.5 million in Bitcoin, a drug dealer, and the Swedish government </span><a href="https://wizardia.io/blog/crazy_crypto_events"><span style="font-weight: 400;">here</span></a><span style="font-weight: 400;">.</span></p> <p> </p> <h1><span style="font-size: 24pt;"><strong>&#128302; The Magic Crypto Ball</strong></span></h1> <p> </p> <p><span style="font-weight: 400;">The US government has sanctioned a crypto wallet tied to the </span><a href="https://www.coindesk.com/business/2023/09/26/ethereum-wallet-tied-to-sinaloa-cartel-sanctioned-by-us-government/"><span style="font-weight: 400;">Sinaloa Cartel</span></a><span style="font-weight: 400;">, which is used to launder profits from fentanyl sales.</span></p> <p> </p> <p><a href="https://www.usnews.com/news/technology/articles/2023-09-26/jpmorgans-uk-bank-chase-to-ban-crypto-transactions"><span style="font-weight: 400;">Chase UK </span></a><span style="font-weight: 400;">will ban all payments related to crypto assets starting on October 16, 2023.</span></p> <p> </p> <p><a href="https://www.investopedia.com/sec-delays-decision-ark-invest-bitcoin-etf-7642539"><span style="font-weight: 400;">The SEC</span></a><span style="font-weight: 400;"> has delayed its decision on Ark's Bitcoin ETF filing until January 10, 2024. </span></p> <p> </p> <p><a href="https://www.coinbase.com/blog/coinbase-obtains-bank-of-spain-registration-in-spain"><span style="font-weight: 400;">Coinbase</span></a><span style="font-weight: 400;"> has received registration from the Bank of Spain, allowing it to offer crypto custody and trading services in the country.</span></p> <p> </p> <p><a href="https://hypebeast.com/2023/9/bored-ape-yacht-club-x-bape-collaboration-release-info"><span style="font-weight: 400;">Yuga Labs, </span></a><span style="font-weight: 400;">the creators of the Bored Ape Yacht Club NFT collection, is teaming up with BAPE to launch a new NFT collection on November 4, 2023.</span></p> <p><br><br><br></p>