Mark Mobius Predicts Bitcoin to Drop to $10,000 in 2023
The next target for Bitcoin is the $10,000 mark. Mark Mobius, a well-known investor in emerging markets, shared this forecast, writes Bloomberg .
The expert noted that he would not invest his own funds or clients’ money in cryptocurrencies, because “it is too dangerous.” At the same time, he does not believe that the emerging asset class will disappear.
โCryptocurrencies will remain as there are investors who still believe in them. It’s amazing how prices have held up amid the collapse of FTX,โ he said.
Mobius’ benchmark is consistent with the strike price of December options, where the maximum open interest on put options is recorded, according to Deribit data.
Earlier, Glassnode analysts recorded the fourth largest capitulation of Bitcoin investors in history against the backdrop of events around FTX.
Morgan Stanley saw a drop in the amount of retail investors interested in Bitcoin.
Against the backdrop of a protracted crisis in the cryptocurrency market, the interest of retail investors in digital assets has weakened, but the demand for regulated products from clients of traditional institutions has increased. This is stated in the report of the investment bank Morgan Stanley, according to CoinDesk .
After the collapse of FTX and Alameda Research, the market is reconsidering the value of issued tokens and their use as margin collateral, experts noted.
Industry participants surveyed by Morgan Stanley expect a further wave of deleveraging and bankruptcies.
Respondents found it difficult to name the deadlines for the completion of the process, but expressed confidence in the further development of โcryptography, blockchain and DLT, as well as increasing their role in trading financial assets.โ
According to analysts, the current bear market is reminiscent of the events of 2017-2018, when the price of Bitcoin fell by 70% from its peaks. The difference is greater leverage, which is caused by the increased role of market makers, trading firms and institutionals by reducing the influence of retail investors.
Morgan Stanley emphasized that infrastructure remains key for industry participants. They also noted that some investors believe it will take 10 to 15 years before cryptocurrencies enter the mainstream.
Earlier, Glassnode analysts pointed to the transition of market participants from the distribution to the accumulation of Bitcoin. The trend is common across almost all categories and is most pronounced among addresses holding less than 1 BTC.
Recall that JPMorgan predicted the continued superiority of centralized platforms over their decentralized counterparts despite the collapse of FTX.
The NBU will be more curious about whether or not it will be returning to a floating rate.
The fixed exchange rate helped calm the situation, bring it under control and provide an anchor for the population and businesses in the conditions of a perfect storm.
โA fixed rate is a departure from market principles, but on the other hand, it is a forced thing. Floating exchange rate and inflation targeting is what the NBU has been hard at work for, these are the basic things that I support,โ Pyshny said.
According to him, the general position of the NBU’s key personnel is that the fixed exchange rate should still play its role for some time.
โSo far, we do not see any grounds for re-linking the exchange rate, however, we consider a return to floating to be premature,โ the head of the NBU added.
He emphasized that this does not mean that the current peg is forever.
โSooner or later we will return to both the floating exchange rate and inflation targeting, but only when it is really appropriate,โ says Pyshny, adding that this topic is not a subject of discussion with the IMF, and there are no fundamental disagreements.
A popular analyst in the cryptocurrency community under the pseudonym Kaleo shared his thoughts on the future value of the flagship cryptocurrency โ investors should get ready for BTC to fall by 22% from the current price.
As Kaleo told his 545,700 Twitter followers, don’t expect Bitcoin to recover, the cryptocurrency hasn’t reached its bottom yet. The expert predicted the fall of the flagship cryptocurrency to $12,500 in the near future.
However, not everything is so bad, Kaleo believes – in 2023,ย after reaching the bottom, Bitcoin has every chance to grow to $40,000ย
โI donโt expect a new all-time high quickly, but a return to the $30,000-$40,000 range and then shortening the distance to ATH before the next halving is quite possible,โ Kaleo stressed.
The analyst’s forecasts changed after the bankruptcy of the FTX exchange and the fall of the entire cryptocurrency market. So back in early October, Kaleo was convinced that Bitcoin was in the accumulation stage and would soon reach twice its value. The crypto strategist also tracked the performance of the Grayscale Bitcoin Trust (GBTC), a financial instrument designed for institutional investors to access bitcoin without buying the underlying asset. According to Caleo, GBTC’s price trajectory in October was an exact replica of its performance during the latter stages of the bear market in 2018 – indicating that the asset had bottomed out and was preparing to recover. However, Sam Benkman-Fried made his own adjustments to this story.
Bitcoin (BTC) Price Prediction and Forecast The collapse of FTX will not kill BTC, it will make it stronger in 2023
Most cryptocurrency experts still believe in the successful future of Bitcoin, despite the recent fall in digital assets due to the bankruptcy of one of the largest exchanges in the world, FTX.ย Finbold experts have collected the most popular analyst forecasts regarding the cost of BTC in 2023.
According to crypto analytics firm TradingShot, if BTC holds ground over the next week, investors should expect significant gains in 2023.ย As TradingShot’s fractal analysis showed, Bitcoin’s support level is $16,628, if the flagship cryptocurrency manages to stay at this level, it could rise to $95,000.
Another indicator of technical analysis is the 200-week moving average, which remains positive for BTC, said a cryptocurrency analyst known by the pseudonym PlanB.ย According to the chart, the price of BTC has held above the 200-week MA throughout all the falls that have occurred in the market in recent months.
โThe collapse of FTX will not kill BTC, it will make it stronger,โ PlanB emphasized.
The owner of Twitter, Elon Musk, is also convinced that Bitcoin will take its toll.ย As he wrote on his social network, BTC will definitely reach new highs, but this takes time.ย With his comment, the billionaire agreed with the assumption of investor Jason Calacanis, who said that everything would be fine with the BTC.
Forecast for Bitcoin – why is it needed?
Traders Union makes a forecast for bitcoin so that users can view the history of price changes and indicative prospects.ย This will allow you to improve your own trading strategy and make transactions with less risk.
Forecasting is done by experienced people – experts with many years of experience and financial analysts;
Forecasts are stored on the platform for a year after being posted, so users have the opportunity to view historical data and draw reasoned conclusions;
forecasts are made taking into account various factors – political and economic events, important financial news;
in addition to the forecast, you can see an interactive chart of BTC price dynamics and get up-to-date data on the cost of the first cryptocurrency
Why track the BTC chart in real time?
An interactive bitcoin chart consists of many time frames. Using it, it is easier for traders to analyze how the value of a crypto asset changed over a certain period of time, which influenced the rate. This allows you to predict future dynamics, to determine in advance the fall or rise in prices.
What determines the price of BTC?
The value of bitcoin is influenced by various factors, including:
1. Behavior of other cryptocurrencies. If the Shiba inu (SHIB) price prediction indicates a fall in the exchange rate, it is possible that this will also affect bitcoin. The underlying crypto assets are interdependent.
2. Blockchain application and its structuring. The value of the first cryptocurrency is affected by the number of mined coins (issue – 21 million), as well as future mining opportunities.
3. Media activity, as well as the stability of the cryptocurrency community.
4. Important speeches by the heads of large companies regarding the use of the first cryptocurrency in the financial and other sectors.
5. Bitcoin regulation, political events aimed at introducing BTC into the economies of developed countries.
Summary
You can always find up-to-date expert materials on the official Traders Union portal. Analysts publish fresh Bitcoin forecasts on a weekly basis so that users can save time on self-analysis and know in which direction the Bitcoin price will move. Traders Union is a reliable assistant for traders who need qualified support and expert help in making money in the financial markets.
Bitcoin exchange rate forecast for tomorrow, week and month.
Bitcoin price forecast for Friday, December 2nd: $17495, high 18720, low 16270. Bitcoin price forecast for Monday, December 5th: $18208, high 19483, low 16933. Bitcoin price forecast for Tuesday, December 6th : $17905, high 19158, low 16652. Bitcoin price forecast for Wednesday, December 7th: $17892, high 19144, low 16640.
Bitcoin price forecast for December 2022 . The rate at the beginning of the month is $17,159. The maximum rate is $19881, the minimum is $15634. The average exchange rate for the month is $17718. Bitcoin rate forecast at the end of the month $18198, change for December 6.1%.
Bitcoin price forecast for January 2023 . The course at the beginning of the month is $18,198. The maximum rate is $20651, the minimum is $13103. The average exchange rate for the month is $17813. Bitcoin rate forecast at the end of the month $19300, change for January 6.1%.
Bitcoin exchange rate forecast for February 2023 . The course at the beginning of the month is $19,300. The maximum rate is $19300, the minimum is $15077. The average exchange rate for the month is $17472. The forecast for the bitcoin rate at the end of the month is $16212, the change for February is -16.0%.
Bitcoin price forecast for March 2023 . The rate at the beginning of the month is 16212 dollars. The maximum rate is $18299, the minimum is $15905. The average exchange rate for the month is $16880. Bitcoin price forecast at the end of the month $17102, change for March 5.5%.
Bitcoin price forecast forย April 2023ย .ย The rate at the beginning of the month is 17102 dollars.ย The maximum rate is $17729, the minimum is $15409.ย The average exchange rate for the month is $16702.ย Bitcoin price forecast at the end of the month $16569, change for April -3.1%
Trained bodyguards, armored cars, and in some cases even snipers on the roofs: the powers that be are scared for their own safety and are ready to pay a lot of money to live another day.
From world leaders to successful billionaires, these are the most well-guarded people in the world.
1. Alassane Outtara (Cote dโIvoire)
The President of Cรดte dโIvoire is guarded by a truly huge number of bodyguards and military personnel. There are even guards covering armored vehicles with their bodies, standing on the steps by the doors. They must be getting paid a lot to be ready to sacrifice their lives like that.
2. Kim Jong-un (North Korea)
The meek leader of North Korea is clearly very worried about his safety when going outside or visiting other countries. His presidential cortege is made up of armored cars and guards on motorcycles. In addition to that,ย Kim Jong-un loves having the guards running on foot beside the armored cars. From the outside, it looks strange and funny, but it works.
3. Shinzo Abe (Japan)
The youngest prime minister of Japan is guarded much better than the old emperor of Japan, who is basically a ceremonial decoration at this point. While the PM is moving around the city, he doesnโt block the road, but the bodyguards are literally hanging out from the carsโ windows to ask other drivers to let them through. If anything goes south, these boys are ready to bring the heat.
The post Top 8 Most Well-Guarded People in the World appeared first on Brain Berries.
This was announced by Prime Minister of Ukraine Denys Shmygal during a government meeting.
Components for the production of power equipment, water treatment facilities and satellite communications with the Internet (Starlink) fell under the tax incentives.
โWe have approved the necessary documents for Starlink to be imported to Ukraine without duty and VAT. This will reduce their cost and allow them to be provided to more people and organizations,โ Shmyhal said.
He also said that the government is negotiating the possibility of acquiring a new large batch of thousands of Starlink systems for Ukraine.
โFirst, the government exempted the import of generators and power equipment from duties and VAT. This decision makes such products cheaper by about 25%. We’re taking one more step. So that Ukrainian manufacturers who assemble such products in Ukraine do not find themselves at a disadvantage, the government additionally exempted spare parts for assembling generators and power equipment from VAT and duties. Thus, products manufactured on the domestic market will become about a quarter cheaper,โ explained Denis Kudin, First Deputy Minister of Economy of Ukraine.
Earlier, the government expanded the list of imported goods that will be imported into Ukraine without paying import duties and VAT – we are talking about equipment that should help the country survive the energy crisis: generators, batteries, and so on.
Recall that Starlink raised prices for Ukraine. The monthly payment for Starlink services will increase from $60 to $75. The new price will apply from December 29th. In addition, when ordering a Starlink terminal from the official website to Ukraine, you will have to pay $700 and another $50 for delivery. Previously, it was possible to order a terminal in Ukraine for $385.
When it comes to ocean creatures, you canโt tell for sure what youโll fish out. One time you hook a blue marlin, another time, itโs a giant squid straight from the abyss. For millennia, the fishermen have been telling stories about giant carps that can swallow boats, enormous whales that could cause a tsunami, and 50-foot blood-thirsty sharks. The creatures from folklore and myths are usually extremely exaggerated, but nowadays, when anyone can just snap a picture of their catch, it becomes obvious that some of those legendary sea-dwellers could actually be real.
Here are the ten largest creatures ever caught by fishermen.
1. The Largest Lobster
The worldโs largest lobster was caught in Nova Scotia in 1977. This crustacean colossus weighed over 44 pounds.
2. The Largest Catfish
The largest catfish ever caught was nearly 8 feet long. A group of villagers in Thailand fished out the beast, but it managed to slink away into the murky river despite their best efforts.
3. The Largest Stingray
The giant stingray is the largest freshwater species on Earth, and the prime specimen caught in Cambodia is a perfect example of how big they can get. This bottomfeeder was 13 feet and weighed over 550 pounds.
4. The Largest Salmon
The absolute giant of the salmon kingdom weighed almost 90 pounds, which is two times more than average salmon usually weigh
The post 10 Largest Creatures Ever Caught By Fishermen appeared first on Brain Berries.
Solana (SOL) Review All You Need To Know About Scalable Blockchain Clock
At the time of writing, there are approximately 7,200 cryptocurrencies in the world. Almost every one of them promises to bring something that no other cryptocurrency project has done before. Many of you know that most cryptocurrency projects either don’t live up to their promises or are never anything special from the start.
Solana is a cryptocurrency that does not fall into this category.ย This is a cryptocurrency project with a radically different approach to the principles of the blockchain.ย His efforts are focused on an element that is so devilishly simple that you’ll wonder why you didn’t think of it sooner.ย This element is time.ย As it turns out, adding decentralized clocks to the blockchain makes it more efficient than anyone could have imagined.
The history of the Solana project begins with a sunny Californian beach with the same name. Solana Beach is located just a thirty-minute drive north of San Diego, where Anatoly Yakovenko , the founder and CEO of the Solana cryptocurrency project , who worked in the telecommunications industry, spent most of his life. That’s a bit of an understatement considering Anatoly was instrumental in developing the technology used in all smartphones since he gave Qualcomm 12 years.
Image from Sunset.com.
At first, Yakovenko was not very interested in Bitcoin, and Ethereum only slightly affected his interests. However, he had been mining Bitcoin for a while when he was developing a deep learning computer network. In his own words , during a โ caffeine-induced 4 a.m. nap โ in 2017, he realized that Bitcoinโs hash function (SHA256) could be used to create decentralized clocks based on the blockchain.
Solana creator Anatoly Yakovenko. Image from the Twitter page
Yakovenko suggested that timestamped transactions could exponentially increase the scalability of a cryptocurrency blockchain without compromising its security or decentralization. He knew it was possible because Google and Intel were implementing similar technologies into their databases, even though everything was done centrally. Solana ‘s revolutionary white paper was published quietly in November 2017.
Solana is a high-performance cryptocurrency blockchain that supports smart contracts and decentralized applications. It uses a Proof of Stake consensus mechanism with a low barrier to entry and timestamps in transactions for maximum efficiency.
The Solana algorithm allows processing 50-65,000 transactions per second (TPS) with a theoretical limit of over 70,000 transactions per second (for comparison, Bitcoin has 7 TPS and Ethereum has 15 TPS). Unlike other similar projects such as Polkadot and Ethereum 2.0 (when it will be released), Solana is a single blockchain (layer 1) and does not delegate operations to auxiliary chains (layer 2).
โParachainsโ Polkadot. Image from the Polkadot Wiki page.
The Solana team has developed its blockchain with long-term plans. These plans stemmed from the personal experience of company founder Anatoly Yakovenko, who while at Qualcomm watched telecommunications technology almost double its capabilities every year.
The Solana project is being developed by a company of the same name based in San Diego, California. The Solana team is made up of former employees of Qualcomm, Google, Apple, Microsoft and Dropbox. In addition to being based on database technologies similar to those used by Google and Microsoft, Solana’s architecture is also inspired by Filecoin , a decentralized cryptocurrency storage solution.
Note: Solana is incredibly complex. Let’s start with a term you might have heard if you’ve paid attention to the project before: Proof of History (PoH). PoH is not a consensus mechanism. Rather, it is a component of the Proof of Stake consensus mechanism.
PoH involves adding timestamps to transactions when they are added to a Solana block. A new Solana block is generated every 400ms (for comparison, in Ethereum it is 15 seconds, and in Bitcoin 10 minutes). Without going into too much detail, the decentralized clock that is used as a reference for timestamps is a SHA256 hash function. The name SHA256 may sound familiar because this system is used in Bitcoin’s Proof of Work consensus mechanism.
Duplicate SHA256 output.
However, instead of working on computing hash functions to create a new block, Solana uses the repeated SHA256 output as reference timestamps. This creates a kind of โ clock ticking โ in 400ms increments (instead of one second like a normal clock).
Now let’s dispel some misconceptions about Solana. Many sources call the Solana Delegated Proof of Stake (DPoS) consensus mechanism. The definition is not entirely accurate, and the Solana team has talked about this many times . The fact is that there are various roles in the Solana blockchain (leaders, validators, archivers, and so on).
Cryptocurrencies like DPoS essentially delegate to these selected network members, but Solana doesn’t do that. Simply put, all nodes in the Solana network participate in all network roles.
For example, โ Leaders โ are engaged in the production of new blocks and change every 4 blocks (1.6 seconds). When a node takes the leadership position, it tries to squeeze as many transactions as possible into the four blocks it produced, and exposes these transaction blocks to special groups of nodes called Solana clusters. These nodes validate transactions using digital timestamps as a reference, and then quickly propagate the records to other nodes on the network.
Unlike other PoS cryptocurrencies, there is no minimum staking required to become a node owner on the Solana blockchain . Naturally, the amount of block reward you receive is proportional to the amount of SOL tokens you have locked.
Although the choice of leader is pseudo-random, the number of SOLs you wager also affects the likelihood that you will become a leader and be able to create blocks. Unscrupulous nodes have their stakes confiscated, with the confiscated funds added to block generation rewards.
Image from the Medium page.
Solana is based on eight basic functions. We have already mentioned one of them (Proof of History). Of the remaining seven, only two deserve attention for this article. They are called Sealevel and Gulf Stream.
The Sealevel feature allows you to quickly identify all non-overlapping transactions and process them simultaneously. Gulf Stream allows you to pre-determine several future Leaders so that they can start accumulating transactions before they start producing blocks.
If you didn’t get it right away, let’s look at a simple example to help you understand how Solana works.
Imagine a small company with 180 employees (that’s roughly the number of nodes/validators Solana currently has). Despite the fact that this company has different departments (for example, accounting, shipping and receiving, customer service), each employee is able to do the work of any other department. In addition, from time to time, each employee is pseudo-randomly selected to the position of boss (leader) for 1.6 hours, during which time he must sign incoming documents from various departments.
Although the selection of an employee as boss is partly random, each employee has a small window on the computer screen showing the next 10 people who will temporarily act as boss. This allows them to hand over their documents to the selected employee before he becomes the boss, so that the work gets done faster (Gulf Stream).
When the boss signs some documents, they are timestamped and sent back to the appropriate department for double verification (as the Solana node clusters are called), and if approved, they are added to the company’s database. All departments can do their paperwork at the same time, as they do not overlap (Sealevel).
Each employee has a role to play in keeping these documents, in checking them, and in controlling the behavior of the boss so that he really does his job, and does not mess around. Basically, this is how Solana works.
A technical overview of the Solana architecture.
The key advantage of the Solana network is that it distributes different tasks between different nodes of the network as needed to optimize speed, and all transactions are timestamped to ensure they are correct.
That is, one cluster of nodes (Solana Cluster) can be responsible for hosting a DeFi platform such as Uniswap , while another cluster is responsible for processing microtransactions created in the Decentraland virtual world. This makes the Solana network decentralized, scalable and secure without compromise.
SOL is the internal cryptocurrency of the Solana blockchain. It is used to pay fees on the Solana network, after which it is burned. You can also use SOL in staking to become the owner of a blockchain node.
In the future, SOL will be used to vote on changes to Solana. At the time of writing, it is not clear whether SOL is inflationary or deflationary due to documentation inconsistencies, although it is most likely deflationary.
Solana has had five funding rounds in total , with the most recent being a public ICO. Over the course of these five rounds, Solana has raised over $25 million in funding and even issued buyback guarantees at a price of just under 20 cents to those who signed up and staked their tokens within the first three months after the ICO.
Solana Staking Price Guarantee. Image from the Binance website.
The first closed funding round took place in March 2018, and just under 80 million SOL was sold for $3.17 million ($0.040 per SOL). The second round of closed funding took place in June 2018, and this time just over 63 million SOL were sold for $12.63 million ($0.20 per SOL).
The third round was held in July 2019, with just over 25 million SOL sold for $2.13 million ($0.22 per SOL). And the last round took place in February of this year – just over 9 million SOLs were sold for $2.29 million ($0.25 per SOL).
First four rounds of Solana funding. Image from ICOdrops website.
The Solana ICO took place in March 2020 on the CoinList platform. It sold 8 million SOLs for $1.76 million ($0.22 per SOL). This is just 1.6% of the total supply of Solana tokens.
The SOL cryptocurrency has a total supply of 500 million. Of this, 36.2% (approximately 160 million SOL) was sold to private investors in the four closed sales rounds mentioned above, and 12.8% (approximately 65 million SOL) was allocated to the Solana team.
Distribution of SOL tokens. Image from the Binance website.
10.4% (approximately 52 million SOL) was allocated to the Solana Foundation, a non-profit organization dedicated to educating people and spreading blockchain technologies. The remaining 39% (approximately 195 million SOL) is reserved for the Solana community (as rewards for validator nodes).
It is important to note that the Solana token release schedule is quite aggressive. Team funds will be slowly released over two years until January 7, 2021, but all other SOL tokens will immediately be in circulation.
The Solana cryptocurrency debuted on the market in April 2020 at a price of approximately $1 per SOL. Shortly thereafter, SOL began trading on Binance however this did not affect the price as the token dropped to around 60 cents and remained there until early July.
Solana price history. Image from CoinMarketCap website.
At the end of July, there was news that the popular cryptocurrency derivatives exchange FTX was going to introduce the Serum decentralized platform on the Solana blockchain. This caused Solana’s price to skyrocket to almost $5 over the next month.
Although the price has settled around $3 since then, the SOL remains in a visible uptrend. It is not yet clear how long this will last given the influx of tokens into the market in January 2021. With a current turnover of only 40 million SOL, a sudden increase in supply could have a negative impact on Solana’s price.
If you want to buy SOL cryptocurrency, there is only one option: Binance . The volume of trading on other exchanges is quite low, and the reputation of most of them is not very good (we will not name names).
Solana’s daily trading volume is also fairly low given the project’s market cap, and is slowly declining. This can lead to serious volatility, so trade with caution!
Unfortunately, there are not many cryptocurrency wallets available for Solana at the moment. When it comes to software wallets, the choice is limited to Binance’s Trust Wallet. The only hardware wallet that currently supports the SOL cryptocurrency is the Ledger .
Quite interesting is the Solana web wallet called SolFlare , which is a non-custodial type and developed by the community.
The Solana project does not currently have a well-defined roadmap. The latest roadmap shows that the team has not achieved any of their intended goals. And there are reasons for that. Anatoly Yakovenko noted in March of this year that in the development of Solana, the team faced almost every problem imaginable. Therefore, Solana’s main blockchain is still in beta
Despite some problems in development, the Solana team managed to conclude a number of serious partnership agreements. Their collaboration with FTX’s Serum DEX is especially important, in part because the FTX team studied dozens of alternative blockchains over the course of a year before choosing Solana.
The second major partner is Chainlink, with which Solana is developing a super-fast oracle. This oracle will be cheaper to use and will be able to update the price data for each Solana block (every 400ms). Most recently, the Solana team agreed to another major partnership with Tether to bring USDT into their ecosystem
In a recent interview , Yakovenko highlighted Solana’s goals. Most of them are related to the ability to work effectively with hundreds of millions of users and hundreds of thousands of decentralized applications.
On a more technical level, the Solana team wants to reduce the block generation time to just 80ms. In addition, the developers hope to enable 1ms cryptocurrency trades on decentralized exchanges based on the Solana blockchain. For comparison, the smallest timeframe on the Binance exchange is 1 minute.
No specific stages for the further development of the project are indicated. Although there has been a discussion on the Internet about the introduction of community governance with the participation of all SOL token holders, a detailed plan for this governance model and a forecast of the implementation timeline have not yet been published.
The creator of Solana in an interview mentioned something that everyone should think about: what will happen when decentralized exchanges become more efficient than centralized ones? Of course, the answer is that centralized cryptocurrency exchanges will switch to using a decentralized blockchain that provides this higher efficiency. The Solana team is determined to make their project this blockchain, and they have every chance to succeed.
Solana token emission schedule. Image from the Binance website.
The only obvious problem with Solana is the issuance schedule for SOL tokens. The visual representation of this issue can be safely called one of the scariest images in cryptocurrency. The number of tokens in circulation will increase from approximately 15% to 95% of the total supply in one week! It is very hard to believe that this will not have a negative impact on the price (at least in the short term).
It is also questionable whether Solana will be able to overtake competitors such as Ethereum 2.0 and Polkadot. While the project prides itself on not using layer 2 auxiliary blockchains, the point is that the average user of a decentralized application wonโt care how the underlying infrastructure works as long as it works well. This narrow-mindedness can ruin a project if not handled with care.
The Solana Team Image from Coindesk.
Overall, Solana is a very promising project, and heavyweights like FTX CEO Sam Bankman-Fried truly believe in its promise. First, the project team is very strong and far-sighted. Second, even though Solana is still in beta , it boasts a very slick interface with over 3.5 billion confirmed transactions.
Third, the company had a rather modest start and is not backed by hundreds of millions of dollars from venture capital investors looking to make a quick profit. Taken together, these facts point to one thing: the result.
In the EU, disputes continue over the limit on the price of oil from Russia.ย The level that will be a blow to the budget of the Russian Federation is $30-40 per barrel, writes RBC Ukraine.
Recall that diplomats of the G7 (G7) and the European Union are discussing a cap of $65 to $70 per barrel to limit revenues to finance Moscow’s military offensive against Ukraine without disrupting global oil markets.
But on November 28, the EU governments failed to agree on a cap as Poland insisted that the cap be lower than the one proposed by the G7.
The price cap is due to come into effect on December 5, when the EU ban on Russian oil will also come into effect.
