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Crypto Flipsider News – September 15th – Solana Halt & Restart Plans, Google Partners with Dapper Labs, Bitcoin Energy Consumption & Price Shock, Rallying Alts: EGLD, ATOM, XTZ, and Market Cap Swaps: DOGE

Read in the Digest Instability halts solana & blockchain restart has been completed Google (NASDAQ:GOOGL) makes move to power blockchain-based Web 3.0 Bitcoin energy...
Crypto Flipsider News – September 15th – Solana Halt & Restart Plans, Google Partners with Dapper Labs, Bitcoin Energy Consumption & Price Shock, Rallying Alts: EGLD, ATOM, XTZ, and Market Cap Swaps: DOGE Crypto Flipsider News – September 15th – Solana Halt & Restart Plans, Google Partners with Dapper Labs, Bitcoin Energy Consumption & Price Shock, Rallying Alts: EGLD, ATOM, XTZ, and Market Cap Swaps: DOGE

Read in the Digest

  • Instability halts solana & blockchain restart has been completed
  • Google (NASDAQ:GOOGL) makes move to power blockchain-based Web 3.0
  • Bitcoin energy consumption reaches new highs & possible BTC price shock
  • Rallying Alts: EGLD, ATOM, XTZ
  • Market cap swaps: The billion-dollar DOGE joke

Instability Halts Solana & Blockchain Restart Has Been Completed

After a splendid Solana season, the popular Ethereum-killer seemed to have shot itself in the leg. Solana’s parabolic rally was halted by “intermittent instability” which broke the network.

On Tuesday, September 14th, Solana announced on Twitter (NYSE:TWTR) that its mainnet was down due to “resource exhaustion.” As a result, users on the Solana network experienced denial of service for hours while Solana’s engineers worked on a solution.

Although considered a bump in the road for the network, Solana’s development team quickly got to work in bringing the Solana blockchain back online.

Due to the instability in the network, SOL, the native token of Solana, experienced a sharp downtrend after its major pump. As of this writing, Solana is down by 11% over the last five days and is now trading at $160.1325 apiece.

The five days price chart for Solana (SOL). Source: Tradingview

Flipsider:

  • In addition to completing the restart of its network, Solana managed to launch its Mainnet Beta upgrade to 1.6.25. DApps.
  • Block explorers and supporting systems are expected to recover over the next several hours.

Why You Should Care

Solana has been referred to as an Ethereum-killer – a replacement for the second largest crypto. While Solana’s network was down, Ethereum’s held firm, even after its hard fork.

Google Makes Move to Power Blockchain-Based Web 3.0

Web 3.0 has been hailed as the next phase of the web. AI systems of the Web 3.0 are expected to make the internet more intelligent by processing information with near-human-like intelligence.

Search engine giant Google has made moves to be one of the leaders of tomorrow’s web, announcing a partnership with Dapper Labs, creators of the Flow blockchain and the $680 million NFT marketplace, NBA Top Shot.

The multi-year partnership will see Google help scale the Flow blockchain by letting Flow nodes operate on its low latency cloud service. Speaking on the partnership, Janet Kennedy, the vice president of Google Cloud North America, said;

"Blockchain technology is becoming more and more mainstream. So companies like Dapper need scalable, secure infrastructure to grow their business, and even more importantly, support their networks."

Flipsider:

  • The idea for web 3.0 was first conceptualized in 2006.
  • The actualization of Web 3.0 has remained elusive. Even finding products is still far from frictionless.

Why You Should Care

Web 3.0 has been referred to as a web that thinks for itself, rather than just following commands. If actualized, there would be a revolution in information sourcing, and finding products would become frictionless.

Bitcoin Energy Consumption Reaches New Highs & Possible BTC Price Shock

One criticism of Bitcoin that has stuck has been the energy consumption required for its mining. The environmental criticism of Bitcoin led to the popularization of greener mining and the Green Bitcoin.

According to a report, Bitcoin has already consumed more energy than it did in the entirety of 2020. The report stated that the Bitcoin network has already consumed more than the estimated 67 TW/h (terawatt-hours or one trillion watts per hour) for the whole of 2020.

The Cambridge Bitcoin Electricity Consumption Index estimates that the BTC network would consume as much as 95.68 TW/h by the end of the year.

In more encouraging news, Forbes Cryptographic Price Forecast has predicted a possible shock in the price of Bitcoin. Despite the famous market crash and BTC failing to profit last month, analysts believe there could be a major bull run for BTC.

The 30 days price chart for Bitcoin (BTC). Source: Tradingview

According to Marcus Sotiliu, a trader at GlobalBlock, “in the coming weeks or months, we may be flooded with announcements of Bitcoin purchases for institutional investors.” According to the prediction, Bitcoin could reach $100,000 before the end of 2021.

Flipsider:

  • While Bitcoin has been expected to reach $100k, another asset is expected to outshine BTC
  • According to the price forecast, the price of ETH could soar tenfold.

Why You Should Care

With constant criticism on the energy consumption of crypto mining, we are likely to see a move away from traditional mining and towards mining with renewable energy.

Rallying Alts: EGLD, ATOM, XTZ

While the majority of the crypto market has been in murky territory, some Altcoins have been riding the bulls. Among those rallying Alts are; Elrond (EGLD), Cosmos (ATOM), and Tezos (XTZ).

Over the last five days at the time of writing, Elrond has gained as much as 29%. EGLD is now trading at $272.72 apiece, with its market cap of $5.3 billion making it the 33rd largest crypto.

The five days price chart for Elrond (EGLD). Source: Tradingview

Cosmos (ATOM) is another top-performing crypto. Over the last five days, ATOM has spiked by over 15%, bringing it to trade at $33.504. ATOM now has a market cap of $7.45 billion, which makes it the 28th largest crypto.

The five days price chart for Cosmos (ATOM). Source: Tradingview

Tezos (XTZ) has also joined the rally, notching gains of over 19% over the last five days. XTZ is now trading at $7.2914 with a market cap of $6.26 billion. Tezos is ranked as the 31st largest crypto by market cap.

The five days price chart for Tezos (XTZ). Source: Tradingview

Flipsider:

  • After a solid weekly performance, EGLD and ATOM are beginning to correct.
  • Over the last 24 hours, EGLD and ATOM are down by 7.61% and 1.97%, respectively.

Why You Should Care

The ability for Altcoins to rally without any moves from either Bitcoin or Ethereum shows that the crypto market is maturing. In its earliest days, the majority of bullish runs were typically ignited by Bitcoin.

Market Cap Swap: The Billion-Dollar DOGE Joke

The meme of the crypto space, initially created to be valueless, once reached a market cap of over $90 billion, making it one of the most valuable cryptos in the world. DOGE’s rise to the top was sponsored by none other than Tesla’s CEO, Elon Musk.

Since hitting an all-time high of $0.7376 in May, DOGE has experienced freefall. Trading as of press time at $0.2416, DOGE is currently down by more than 67% of its ATH.

In a walk to forget, the market cap of DOGE has plunged to $33.82 billion. The drop in market cap has seen Dogecoin fall from being the 4th largest crypto to its current position of 9th.

The year-to-date market cap of Dogecoin (DOGE). Source: Tradingview

Flipsider:

  • While Dogecoin has suffered one of the largest market cap drops, YTD, DOGE is one of the top-performing coins.
  • YTD, DOGE, has yielded a return of investment of over 4,500%

Why You Should Care

For crypto to sustain a price rally, it must have true value and use cases. In the case of DOGE, after the Elon Musk effect waned, the price of the coin has been on a downward spiral.

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18-09-2021 02:10:52 (UTC+7)

EUR/USD

1.1730

-0.0034 (-0.29%)

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↑ Buy

Moving Avg:

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EUR/USD

1.1730

-0.0034 (-0.29%)

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↑ Buy

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Buy (9)

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GBP/USD

1.3740

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USD/JPY

109.92

+0.21 (+0.20%)

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AUD/USD

0.7275

-0.0014 (-0.20%)

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Neutral

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USD/CAD

1.2742

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Neutral

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EUR/JPY

128.93

-0.12 (-0.09%)

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EUR/CHF

1.0938

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Gold Futures

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US Coffee C Futures

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6,963.64

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24,920.76

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US Small Cap 2000

2,227.00

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IBEX 35

8,760.90

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63.085

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Adidas AG

281.60

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Deutsche Lufthansa AG

8.210

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Siemens AG Class N

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 EUR/USD1.1730↑ Buy
 GBP/USD1.3740↑ Sell
 USD/JPY109.92↑ Sell
 AUD/USD0.7275Neutral
 USD/CAD1.2742Neutral
 EUR/JPY128.93↑ Sell
 EUR/CHF1.0938↑ Buy
 Gold1,754.15↑ Buy
 Silver22.450↑ Buy
 Copper4.2460↑ Sell
 Crude Oil WTI72.08Neutral
 Brent Oil75.44Sell
 Natural Gas5.067↑ Sell
 US Coffee C186.75Buy
 Euro Stoxx 504,130.84↑ Buy
 S&P 5004,434.36↑ Sell
 DAX15,490.17↑ Buy
 FTSE 1006,963.64↑ Buy
 Hang Seng24,920.76↑ Buy
 Small Cap 20002,227.00Sell
 IBEX 358,760.90↑ Sell
 BASF63.085↑ Sell
 Bayer45.07↑ Sell
 Allianz190.23↑ Sell
 Adidas281.60↑ Sell
 Lufthansa8.210Neutral
 Siemens AG148.76↑ Sell
 Deutsche Bank AG11.080↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,600/ 5,665
(0/ 0) # 809
SJC HCM5,600/ 5,665
(0/ 0) # 810
SJC Hanoi5,600/ 5,667
(0/ 0) # 812
SJC Danang5,600/ 5,667
(0/ 0) # 812
SJC Nhatrang5,600/ 5,667
(0/ 0) # 812
SJC Cantho5,600/ 5,667
(0/ 0) # 812
Cập nhật 18-09-2021 02:10:54
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Sản phẩmVùng 1Vùng 2
RON 95-IV2149021910
RON 95-II,III2139021810
E5 RON 92-II2014020540
DO 0.05S1602016340
DO 0,001S-V1637016690
Dầu hỏa1508015380
ↂ Giá dầu thô thế giới
WTI$72.09-0.67-0.93%
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$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.640,0022.870,00
EUR26.118,3927.477,69
GBP30.621,6331.901,01
JPY202,13213,83
KRW16,7120,34
Cập nhật lúc 18:53:14 17/09/2021
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