59th Edition

Sep 16, 2022

Ethereum Stamped Newsletter

This week in The Flippening, TL;DR

  • Major PE firm moves a portion of its funds to an open blockchain
  • The best soccer player will now get an NFT along with the trophy
  • The most talked about event of the year has finally arrived
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🔊 Top Highlights of the Week

Private equity firm, KKR, joining hands with a public blockchain.

Private equity firm, KKR, moving a portion of its funds to public blockchain.

A part of the private equity funds managed by KKR & Co. is now accessible via the Avalanche blockchain. Its Health Care Strategic Growth Fund will only accept investments from approved buyers with at least $5 million in investable assets. Investors will have the option to sell their holdings on a Securitize-run secondary market after a year.

Winners of the prestigious Ballon d'Or football award will also get NFTs

Winners of the Ballon d'Or football award will also get NFTs

In addition to their  trophies, the winners of this year's Ballon d'Or, the top prize for individual footballers, will also get digital tokens.

With a variety of NFTs, the organizing committee is attempting to enter the cryptocurrency market this year. The winners would get the NFTs for free, whereas there will be an auction for the people willing to purchase.

The Ethereum Merge is finally here! Carbon footprint to go down by 99.95%

The Ethereum Merge is finally here!

We have been talking about the Ethereum Merge for quite some time now. The upgrade is finally done! This upgrade will reduce the carbon footprint of the largest altcoin by 99.95%. Ethereum has a much higher utility, higher scalability, and lower energy consumption than the Bitcoin network.

It could only be a matter of time before Ethereum overtakes Bitcoin's market cap.

Other Highlights:

  • MicroStrategy Is sitting with almost 129,000 Bitcoins and thinking to purchase more.
  • Revolving Games, a publisher of mobile free-to-play games, secures a $13.2 million funding to create AAA rated Web3 games.
  • Metaverse and Altcoin Gets Added to Merriam-Dictionary Webster's
  • The Helium Network is migrating completely to SOL.
Top 5 Cryptocurrencies in last 7 days
Disclaimer: All price movements are recorded up to 04:30 AM UTC, 20th Sept 2022

We were expecting a fair bit of volatility after the Ethereum Merge. Moreover, the macro factor that contributed most to the sell-offs was the Consumer Price Inflation data that came out last week. Inflation was much higher than anticipated and the market sentiments suspect a 75 bps interest rate hike in the upcoming Fed meeting. Hold tight and trust your investments.

Top 5 Sectors in last 7 days
Disclaimer: All price movements are recorded up to 04:30 AM UTC, 20th Sept 2022

All the sectors ended the week in red. After a good start to the week, the sentiments seemed to be bearish towards the end. Diversification is the key during such choppy markets.

Coin of the week

Binance USD: $BUSD

It seems to be a good time to park a good chunk of the portfolio towards stablecoins. The market is extremely volatile and parking some profits in stablecoins allows investors to easily continue dollar cost averaging at comfortable prices.
BUSD being one of the most credible stabelcoins, backed by Binance, unanimously entered our stablecoin of the week. 

Crypto simplified

ETH down despite the Merge. What should you do?

It has finally happened. Ethereum smoothly transitioned into the Proof-of-Stake consensus mechanism. The developers indicated that the upgrade was completed flawlessly. It could perhaps be the single largest upgrade of the crypto ecosystem post the advent of Bitcoin in 2009.

However, several investors are baffled that the price of ETH is going down. In fact, there were several narratives suggesting that the ‘Merge’ would push ETH prices almost above $10,000 (almost 7x from current levels). However, the case has been completely different, with ETH losing more than 15% in the past week.

Note for dummies: Every investor needs to understand that both the stock market as well as the crypto market follows a ‘buy the rumor, sell the news’ approach.

ETH down despite the Merge. What should you do?

On Tuesday, the U.S. Bureau of Labor Statistics released its latest Consumer Price Index (CPI) figures, indicating high inflation’s stubborn persistence into August. The news—which will likely lead to the Fed once again raising interest rates to combat inflation—immediately triggered a massive sell-off in the stock market and a corresponding drop in the value of cryptocurrencies.

While ETH’s value appears to have been negatively impacted by the Merge in the short term, Ethereum’s transition to a more environmentally-friendly consensus mechanism has also attracted the interest of several traditional financial institutions.

This is the time to be bullish on the underlying technology, which is the Ethereum blockchain. With the increase in adoption, the price of ETH is bound to go higher sooner or later.

ETH down despite the Merge. What should you do?

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