Digest

• Black Friday’s plummet was reversed by a rebound.
• Ripple’s CEO believes the case with the SEC will end in 2022.
• Cardano’s founder details plans for dApp security on the Network.
• Metaverse lectures have been popping up all over China to show citizens how to use GameFI on BSC.
• Japanese Sci-Fi novel translations to be available exclusively in NFTs.

Black Friday Plummets Bitcoin, Ethereum Ripple and Solana.

Black Friday wasn’t a good day for Altcoins or Bitcoin, as most prices dropped to their lowest monthly levels. BTC traded for as low $53,569 and Ethereum (ETH), below $4,000 the first month of November.

Despite this, Bitcoin is leading the recovery of the crypto market. Bitcoin gained over 5% during the past 24 hours and is currently trading at $57k.

This is the 24 hour Bitcoin price chart. Source: Tradingview

Ethereum joins the market’s recovery, gaining 5.7% in the last 24 hours. ETH now trades at $4,290 as of this writing

Here is the Ethereum 24 Hour Price Chart. Source: Tradingview

Bullish sentiment spread to almost all of the cryptocurrency market. Cardano and Solana gained 6.5% and 4% respectively. To trade at $0.9659 Ripple has increased 3.45%, while Polkadot has gained 4.8%.

Flipsider:

• While the crypto market recovers, investors have raised concerns about the new strain of Covid-19 – Omicron.

What You Need to Care About

It is evident that the cryptocurrency market has the ability to rebound quickly from the Black Friday plunge.

Ripple’s CEO Believes the Case with the SEC Will End in 2022

Brad Garlinghouse (the chief executive officer) of Ripple believes its case with U.S. Securities and Exchange Commission may be settled in 2022. Ripple Inc. was charged by the SEC with unregistered sales of $1.3 Billion securities in December 2020.

Garlinghouse explained that, despite the prolongment of the case, they are making good progress amid “a slow-moving judicial process.” He also believes that the case, which is almost a year old, would be concluded in 2022.

He also added:

The judge is asking good questions. This isn’t just Ripple, I believe. It will also have wider implications.”

Flipsider:

• XRP, which was sued by the company, has been removed from all major exchanges. It’s now 75% below its high.

What You Need to Care About

Ripple could bring about finality and be an important win for the entire crypto industry.

Cardano’s Founder Details Plans for dApp Security on the Cardano Network

Many of the new functions promised by Alonzo have been delayed, much to the disappointment of Cardano. The Plutus Application Backend has not been launched yet, suggesting that this process is still in progress.

Speaking on the issue of dApps on the network, Charles Hoskinson, the founder of Cardano, explained how the community should “manage expectations” for dApps.

Hoskinson stated that $10.5 billion had already been stolen or lost from dApps by 2021. Hence, the need to create “high assurance” software with minimal risks and bugs. While explaining that the process can be time-consuming, he added that “we’re moving as fast as I think any project ought to.”

Hoskinson says that

“Cardano Dapps are in construction. I would not be surprised to see them on the market within the next few weeks or months.”

Flipsider:

• Despite Cardano’s developments and decision making processed, Israeli cryptocurrency exchange “eToro” has announced that it will be delisting Cardano (ADA) for U.S. customersBefore the end of this year.

What You Need to Care About

Cardano (ADA), which is a cryptocurrency, needs patience as it develops into a fully functioning dApp ecosystem. Its utility will increase, and so should its value.

Metaverse Lectures Are Rising Up in China to Teach Citizens How To Play GameFi On BSC

As it is expected to revolutionize how we interact with the future, the metaverse topic is one of the top topics. The recent technology trend, which Grayscale says is a $1 trillion opportunity, has made its way into China’s anti-crypto spheres.

According to a recent report, “meta-universe” lecture seminars have appeared in Shanghai, teaching citizens how to play GameFi games on BSC. Shanghai Citizen Miss Cai stated in an interview that she was a participant in the meta-universe seminar held in Shencheng, in the early November.

However, she felt suspicious of the speech and called the 12345 public service hotline to report that someone was “brainwashing and promoting virtual meta-universe investment.”

The report explains that there has been “underground” growth of these meta-universe lecture salons which teach people how to partake in GameFi. Additionally, it explains that the investment in these gaming products has increased by 180% in just 40 days.

Flipsider:

• Growth is contrary China’s stance towards cryptocurrenciesThey are outlawed at the moment.

What You Need to Care About

The metaverse is rapidly growing and will soon engulf all industries, completely changing the way we interact.

Japanese Sci-Fi Novels Translated to Sell Exclusively As NFTs. New NFT Use Cases Transforming Digit Art

Its November transactions volumes exceeding $16 billion show the growth in non-fungible tokens. Creating a new use case, Miyuki Ono’s Japanese sci-fi novel “Pure” has been translated into English and is being sold exclusively as NFTs.

The OpenSea NFT Marketplace has three versions of this novel. Original story in Japanese and English translations by Laurel Taylor, Kalau Almony. Ono is a writer and believes that it could open up new revenue streams for translators or writers currently underpaid.

NFTs can be used in a variety of ways, including for digital arts. However, the possibilities for NFTs may not end there. The popularity of NFTs that generate new digital art is increasing and are attracting more people to them.

For example, holders of Bored Ape Yacht Club NFTs get digital vials of mutant serum, which they could infuse their Bored Ape with in order to create a new NFT – a Mutant Ape. There have been generative NFTs used in music. Very recently, American musician, Meek Mill, announced the release of the final installment of ‘Dreamchasers’ as an NFT.

Flipsider:

• Some investors believe digital arts, despite their increasing popularity, are still too expensive despite this fact.

What You Need to Care About

It is likely that NFTs will be adopted in mass numbers due to the increasing use cases in real life and growing interest in metaverse technology.

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