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Summary of Past Week Articles September 16, 2022

The Russian Central Bank is looking for a Crypto Specialist:

Russia’s Central Bank has revealed plans to hire a cryptocurrency expert. It is a significant shift for the bank, which advocated a blanket ban on all crypto-related activities earlier this year.

The Central Bank advertised for a blockchain developer with cryptocurrency skills on the Russian job search platform Headhunter (HH).

The bank is looking for a developer with one to three years of expertise in the sector.

The new employee will also be assigned to “pilot” initiatives.

The Central Bank’s stance on cryptocurrency has softened slightly in recent months, but it remains at odds with the pro-industry Ministry of Finance.

However, hiring a crypto expert may indicate that the bank is now ready to go a step further – and possibly incorporate crypto-related technological breakthroughs into its operations.

What does this signify for Ethereum if this is a Netscape moment for Web3?:

Ethereum completed its long-awaited Merge on Thursday, switching from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus process.

The change immediately decreased Ethereum’s energy consumption by 99.9% and is the first big step toward making the blockchain cheaper and faster to operate in the long run.

But, although some call the event a “Netscape Moment,” what does it signify for the future of Ethereum?

The medium and long-term potential is vast and endless – Ethereum is now the leading blockchain for other firms to build and expand on, and the Merge makes it cheaper, faster, safer, and more energy efficient.

Following the Merge, the Ethereum Classic Hashrate has reached an all-time high. 

According to Bank of America, faster transaction speeds and a lower carbon footprint will likely promote institutional adoption. At the same time, it will be safer and more accessible for businesses to establish and deploy apps, programs, and technology.

Coinbase Japan nearly doubles the number of tokens listed:

Coinbase, a cryptocurrency exchange in Japan, has nearly doubled the number of tokens listed on its platform. In addition, it increased the total number of coins listed from six to eleven, implying that Japanese exchanges may begin considerably growing the number of tokens they handle.

However, the listing process in Japan is notoriously tricky.

Japanese crypto enterprises have asserted overregulation. Meanwhile, political opponents claim that Japanese crypto skills and cash are fleeing outside.

As a result, exchanges have seized the opportunity, and some rapidly extend the number of coins they list.

So far, no exchange listed more than 20 tokens at the start of the year. Others are on track to end the year with as many as 30 coins on their platforms.

Coinbase’s launch into the Japanese market took time.

Top 5 Trends Shaping the Future of Crypto Mining: What Miners Can Expect:

As the Ethereum blockchain prepares for the Merge and its complete transition to proof-of-stake (PoS), a more extensive debate over miners and their future has emerged.

The shift from carbon-based electricity to renewable energy sources is one of the most significant trends in the mining industry.

According to industry insiders, the Bitcoin network’s hash rate will skyrocket next year.

That means mining difficulty will skyrocket, maybe exceeding the all-time high of 248.11 EH/s established earlier this year.

Margin Reduction Miners will most likely struggle to benefit from their activities as mining difficulty and hash rate increase.

Finally, future chip availability is projected to be severely limited.

Buyers of the Ethereum Merge become sellers as the trouble-free upgrade falls short of expectations:

The Ethereum price has dropped by 1% in the last hour. The now-completed Merge has failed to spark a bull market as some had predicted.

ETH had risen above $2,000 in mid-August, and the second-largest cryptocurrency is becoming deflationary enthused investors. But the price action has been underwhelming, except for a mini-rally to $1,780 over the weekend.

As the tweet messages regarding the event suggest, the lack of a Merge-day bounce should be no surprise.

Ethereum has reduced its energy consumption by 99% today, but nothing has changed regarding performance gains, adoption, or circulating supply since yesterday.

Because according to predictions, the supply of ETH about demand will decline significantly over time.

As a result, there will be more demand for ETH, and the price will rise.

As venture capital flows in, GameFi and NFTs are expected to be the first to recover from the downturn:

In August, venture capital funding for NFT and gaming companies in crypto increased by 66%, from USD 507 million in July to USD 842 million.

This surge comes when total VC financing in the cryptocurrency sector has fallen, implying that NFT and GameFi coins may lead the way out of the current bear market.

Battle Infinity, a play-to-earn crypto gaming platform, sold out its presale in a matter of weeks in August.

Since the end of the presale, it has quickly gained a listing on PancakeSwap and LBANK, reaching an all-time high of USD 0.00554060 on August 30, representing a gain of 269% over the presale price. 

Tamadoge, an intriguing meme token-cum-metaverse platform still in presale, is also included.

Tamadoge provides play-to-earn game mechanics that allow players to breed and battle pet monsters. The company has raised USD 12.5 million and has over 63,000 Twitter followers.

When it occurs, the most recent investment data implies that NFT and gaming-related platforms will be at the vanguard of the next bull market.

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