Weekly Crypto News: Edition #1

<h1><strong>Weekly Crypto News: Edition #1</strong></h1> <p><span style="font-weight: 400; font-family: 'courier new', courier, monospace; font-size: 12pt;">G'day <em><strong>Wizardians</strong></em> and Crypto enthusiasts! Welcome to <em><strong>edition #1 of weekly crypto News</strong></em>! Where we battle the tumultuous spells of crypto volatility to guide you safely to the magical realm of financial success. Today, we've got a Enchanted Cache of crypto updates to share with you.</span></p> <p> </p> <ol> <li><span style="font-weight: 400; font-family: 'courier new', courier, monospace; font-size: 14pt;">Emerging BTC Trend</span></li> <li><span style="font-weight: 400; font-family: 'courier new', courier, monospace; font-size: 14pt;">The Vulnerability of Discord</span></li> <li><span style="font-weight: 400; font-family: 'courier new', courier, monospace; font-size: 14pt;">Visa X Solana</span></li> <li><span style="font-family: 'courier new', courier, monospace; font-size: 14pt;">The Magic Crystal Ball</span></li> </ol> <h2 id=""> </h2> <h2 id="an-emerging-crypto-trend-btc-as-margin-collateral">An Emerging Crypto Trend: BTC as Margin Collateral &#129488;</h2> <p><span style="font-weight: 400;">Lately, a fascinating trend has been sweeping through the cryptosphere. Savvy investors are employing Bitcoin as collateral in futures trading, and the numbers don't lie. Since July, Bitcoin futures contracts using BTC as collateral have surged from 20% to an unprecedented 33%.</span></p> <p> </p> <p><span style="font-weight: 400;">This means that crypto aficionados are not only using their BTC holdings to bolster other crypto investments but are also harnessing the power of leverage to amplify their Bitcoin holdings. It's like a feast for the DeFi champions!</span></p> <p> </p> <p><span style="font-weight: 400;">However, some sharp-witted analysts are raising alarm bells for two good reasons:</span></p> <p> </p> <ol> <li> <h3><strong> Liquidity Concerns</strong></h3> </li> </ol> <p><span style="font-weight: 400;">The surge in using BTC as collateral points to a liquidity crisis in the crypto market. When investors resort to putting up their beloved Bitcoin as collateral, it's a clear sign that cash is in short supply. </span></p> <p> </p> <ol start="2"> <li> <h3><strong>The 2 Faces of Derivatives</strong></h3> </li> </ol> <p><span style="font-weight: 400;">While the concept of using crypto as collateral might sound appealing when you're low on cash, it can open a battery of volatility and liquidation in the market. Imagine this: when your collateral is also an asset that's losing value, your lender starts to break a sweat. And when lenders get nervous, they tend to liquidate, seizing your assets in the process&hellip;.</span></p> <p> </p> <p><span style="font-weight: 400;">Blockware Intelligence refers to this as the "<em>double whammy</em>”.</span></p> <p><span style="font-weight: 400;"><picture><source srcset="https://wizardia.io/images/blog/thumb/untitled-design-7-removebg-preview-4089.webp 576w, https://wizardia.io/images/blog/inner/untitled-design-7-removebg-preview-4089.webp " type="image/webp"></source><source srcset="https://wizardia.io/images/blog/thumb/untitled-design-7-removebg-preview-4089.jpg 576w, https://wizardia.io/images/blog/inner/untitled-design-7-removebg-preview-4089.jpg " type="image/jpg"></source><img srcset="https://wizardia.io/images/blog/thumb/untitled-design-7-removebg-preview-4089.jpg 576w, https://wizardia.io/images/blog/inner/untitled-design-7-removebg-preview-4089.jpg " alt="" loading="lazy" width="666" height="375"></picture></span></p> <p> </p> <p><span style="font-weight: 400;">Once the liquidation dominoes start falling, it's a challenge to predict when they'll come to a stop. Lower prices lead to more liquidations, creating a savage cycle that can swiftly crash prices.</span></p> <p> </p> <h2 id="the-vulnerability-of-discord">The Vulnerability of Discord &#128064;</h2> <p><span style="font-weight: 400;">Discord stands as one of the go-to messaging apps in the crypto and gaming realm, serving as the news bulletin for project updates and investor conversations. It's crypto's equivalent of AIM for the "cool kids" of days gone by.</span></p> <p> </p> <p><span style="font-weight: 400;">But, here's the thing&hellip;. Discord recently rolled out a new feature for all users - hidden links.</span></p> <p> </p> <p><span style="font-weight: 400;">Why does this matter, you ask? While Discord is a central hub for crypto enthusiasts and gamers alike, it's also a haven for hackers, scammers, and dreaded rug-pullers. Discord servers of major projects and artists like Arbitrum and Beeple have fallen prey to malicious actors with nasty intent. NFT thieves have swiped tens of millions from crypto investors, and there's even a "scam-as-a-service" market where hackers create fake websites, sell them to fellow bad actors, and pocket hefty commissions on the stolen loot. Pirates compounding on Pirates. </span></p> <p> </p> <p><span style="font-weight: 400;">This new hidden link feature makes life even easier for scammers.</span></p> <p> </p> <p><span style="font-family: 'courier new', courier, monospace;">Stay vigilant, Wizadians, keep your wits about you, and always remember... Never click on random links. <strong><em>I repeat, never!</em></strong></span></p> <p> </p> <p><span style="font-weight: 400;">Check out the top 10 ways to avoid scammers </span><a href="https://wizardia.io/blog/avoid_crypto_scams"><span style="font-weight: 400;">here</span></a><span style="font-weight: 400;">.</span></p> <p> </p> <h2 id="visa-x-solana">VISA x Solana &#129309;</h2> <p><span style="font-weight: 400;">In a groundbreaking partnership announcement bringing a tear of joy the Sol-army and wider crypto community as a whole&hellip; Visa is teaming up with Solana and Circle to bolster its stablecoin settlement capabilities. </span></p> <p> </p> <p><span style="font-weight: 400;">Here's the sitch:</span></p> <p><span style="font-weight: 400;">Select merchants can now have the option to settle payments using USDC on the Solana network instead of traditional fiat currency. </span><span style="font-weight: 400;">This positive move promises faster and cheaper payment settlements, a significant departure from the days when cross-border settlements could drag on for what felt like an eternity.</span></p> <p> </p> <p><span style="font-weight: 400;">Visa has already successfully piloted this initiative, transferring millions of USDC over the Solana network.</span></p> <p> </p> <p><strong>Honorable mention: </strong><span style="font-weight: 400;">SOL experienced a modest 4% boost in value following this news.</span></p> <p> </p> <p><span style="font-weight: 400;"><picture><source srcset="https://wizardia.io/images/blog/thumb/untitled-design-8-3722.webp 576w, https://wizardia.io/images/blog/inner/untitled-design-8-3722.webp " type="image/webp"></source><source srcset="https://wizardia.io/images/blog/thumb/untitled-design-8-3722.jpg 576w, https://wizardia.io/images/blog/inner/untitled-design-8-3722.jpg " type="image/jpg"></source><img srcset="https://wizardia.io/images/blog/thumb/untitled-design-8-3722.jpg 576w, https://wizardia.io/images/blog/inner/untitled-design-8-3722.jpg " alt="" loading="lazy" width="940" height="1270"></picture></span><br><br></p> <p><span style="font-weight: 400;">This development highlights the transformative power of blockchain technology and stablecoins, offering expedited transactions, reduced fees, and fewer headaches - everything an investor dreams of.</span></p> <p> </p> <p><span style="font-weight: 400;">Not only Visa has been getting in on the action. In recent months, industry titans like Visa, Shopify, and PayPal have all turned to crypto, embracing stablecoin payments. Who could be next on this crypto journey? </span></p> <p> </p> <p><span style="font-weight: 400;">Read how Stablecoins Are Revolutionizing Finance and Reshaping the Global Economy </span><a href="https://wizardia.io/blog/stable_coins"><span style="font-weight: 400;">here</span></a><span style="font-weight: 400;">.</span></p> <p> </p> <h2 id="the-magic-crypto-ball">The Magic Crypto Ball &#128302;</h2> <p><a href="https://nftnow.com/collectibles/casio-debuts-free-virtual-gshock-community-nft-passes/"><span style="font-weight: 400;">Casio has partnered with Polygon</span></a><span style="font-weight: 400;"> Labs to introduce free NFTs based on its iconic G-Shock watch. Holders of these NFTs gain access to Casio's exclusive Discord channel, where they can participate in "co-creation" competitions to design new NFTs.</span></p> <p> </p> <p><a href="https://www.plus500.com/lt/?ncc=true&id=4711&tags=bi_sr+382778504_cpi+LithuaniaSearch_cp+1217159851497225_agi+Trading.Trading_English_agn+trading+market_ks+kwd-76072843615963%3aloc-108_tid+bp_mt+m_de+o_nt+_ext+138473_loc+UURL&=%d7%90&msclkid=f4659aee374316a24c74fe17b43dd0a2&utm_source=bing&utm_medium=cpc&utm_campaign=LithuaniaSearch&utm_term=trading+market&utm_content=Trading.Trading_English"><span style="font-weight: 400;">Genesis</span></a><span style="font-weight: 400;"> is bidding farewell to its crypto trading desk in the U.S. market. The over-the-counter trading platform will shutter its doors on September 18, with all remaining accounts closing on September 30.</span></p> <p> </p> <p><a href="https://www.art-critique.com/en/2023/09/pixel-pioneer-debuts-unseen-digital-works-by-keith-haring/"><span style="font-weight: 400;">Christie's auction house </span></a><span style="font-weight: 400;">is set to auction off five digital works originally crafted by Keith Haring. These artworks were once only accessible via floppy discs but have now been immortalized on the Ethereum blockchain as NFTs.</span></p> <p> </p> <p><span style="font-weight: 400;">The USDC stablecoin has made its debut on the </span><a href="https://cointelegraph.com/news/usd-coin-expands-base-optimism-networks"><span style="font-weight: 400;">Optimism and Base networks</span></a><span style="font-weight: 400;">. Circle account holders can now seamlessly transfer USDC between these two blockchains.</span></p> <p> </p> <p><span style="font-weight: 400;">El Salvador is gearing up to introduce </span><a href="https://cointelegraph.com/news/el-salvador-to-introduce-bitcoin-education-in-schools-by-2024"><span style="font-weight: 400;">Bitcoin into its school curriculums</span></a><span style="font-weight: 400;"> by 2024. The Bitcoin diploma program will educate 150 public school teachers from 75 institutions, equipping them with fundamental knowledge of Bitcoin.</span></p> <p> </p> <p><span style="font-weight: 400; font-family: 'courier new', courier, monospace;">There you have it Crypto Wizards! We hope this report on the latest crypto current events provides you with al the right insights for your journey in the world of digital currencies. </span></p> <p> </p> <p><span style="font-family: 'courier new', courier, monospace;">See you in the <a href="https://wizardia.io/p2e-duels" target="_blank" rel="noopener">Arena</a> ;)</span><br><br><br><br><br><br></p>