Moola Market (MOO) news

BGB Sail: October Edition

Bitget Academy is delighted to announce the release of our new BGB Sail Series, which reflects on BGB performance each month alongside the market summary. BGB Sail: September Edition can be found here. Market Summary Bitcoin realised volatility, for the first time in two years, reached the lowest of 40%. Higher volatility and high risk always go hand in hand; we can see that, apparently, 2022 so far turned out to be much less volatile than last year. Bitcoin’s 20-day volatility also matched that of NASDAQ and was only a tad higher than that of the SP500 in October, also for the first time since 2020. Source: Glassnode Studio Source: Kaiko Analytics In addition, Bitcoin’s correlation with gold is increasing unstoppably, now nearly at 0.60. Maybe time for the ‘digital gold’ narrative again? Source: Bloomberg Be it true or not, the number of and value of BTCUSDT">Bitcoin perpetual contracts increased massively in October. Within the first four days of October, Bitcoin's open interest across exchanges has risen by at least 60,000 Bitcoin. Source: Arcane Research But other cryptocurrencies were hurting in the bear market. Crypto blue chip yields have been sliding since the dismay of May and seeing year’s lows in September and October. That’s definitely not good news for the industry. Source: Delphi Digital It’s not just that. Blockchain projects saw a dropping in capital injections for the second consecutive quarter, falling to the second lowest quarter of funding since 2021 at US$6,217,000,000. Source: The Block One contributor to the dread may very well be the hacks and attacks, which further smeared the industry name. The biggest exploits in October include the notorious US$586 million hack on BNB Chain, the US$2 million hack of QANplatform’s offline bridge, the US$2.3 million TempleDAO hack, the US$100 million hack of Mango Markets on Solana, the US$8.4 million hack of Moola Market, the 30,437 OHM hack and the exploit of Ethereum Alarm Clock's smart contract for 204 ETH. Analysis by Solidus Labs also shows that BNB Chain is home to the most scam projects, with 12.02% of the token contracts being a sham. Source: Solidus Labs Most important of the month is Elon Musk’s acquisition of Twitter, his plan to incentivise content-creating activities on the platform, and NFT-ise Twitter with the NFT Tweet Tiles pilot. BGB Performance in October BGB recorded a new all-time high of US$0.2176 on October 20, 2022, after September’s high of US$0.200031. Our newly established support levels are between US$0.17 and US$0.18, a huge move since the LUNA case. Source: CoinMarketCap BGB has been holding itself well amid the bears’ suffering. Period. Analysis of previous months is available here: BGB Sail: September Edition BGB Sail: August Edition BGB Sail: July Edition BGB Sail: June Edition BGB Sail: May Edition For different risk appetites With the launch of Bitget’s new DeFi product series, BGB becomes strictly a necessity. The more BGB you own, the more you can earn. If you are a risk-averse user, why not try BGB Earn? Mind you, interest rates may be on the rise, but a strong US-Dollar is hurting all other fiat currencies. For example, the Euro (EUR) has lost ca. 15.9% from January to September, the British pound (GBP) 21.8%, the Japanese Yen (JPY) 26%, etc. Even the Swiss Franc (CHF) has been weakened by roughly 7.6%, whereas the BGB net value increased by 20%! Given that BGB Earn offers a 6% APR, the only question is just how many times your asset value could grow if you are a BGB holder? An alternative is putting your BGB to work via Bitget Launchpool. An estimated 107,500 USDT in staking rewards has been distributed to participants of 9 pools. BGB is a default choice for staking tokens, which is to create lucrative opportunities for BGB holders. A lower APY for staking BGB is, however, justified, given that BGB value skyrocketed, as shown in the chart above. Bitget-Verse It’s KCGI time! Bitget’s biannual trading competition is back just in time for the World Cup 2022 in Qatar. To prep you for the event, we have listed ITAUSDT on Bitget Spot Trading and FOOTBALLUSDT on Bitget Futures Trading! Spot Futures Activities Futures activities, represented by the aggregated volume of all contracts, saw an increase of a whopping 68%, again confirming the interest of ‘degen scalpers.’ Bitcoin dominated the futures markets, standing at 67.8% (on average) of the total open interest for October. To assist investors with trading in the sideways market, Bitget team has made Spot Grid Trading available even for very low investment capital! Learn more about this opportunity here. Enthusiastic investors can also trade fan tokens with Bitget Spot Grid Trading as well! Bitget ABCs Program has come to an end, with more than 80 new pairs listed on Bitget Spot Trading and 25 more to be listed after the completion of their mainnet integration. We thank you for your passion and support along the way! Now it’s time to look back at our achievements together with the roundup here. Bitget Insights New for us, new for you: Bitget Insights is officially launched! Bitget Insights is a feature that allows high-quality traders to share their professional opinions publicly to not only help their fellow traders but also earn more followers on Bitget Copy Trade. For a limited time, Bitget Insights is open for all users - the best will secure the right to permanent publishing and access to juicy rewards! Check out our exclusive Bitget Insights campaigns, including Everyday Bitget Insights AMA and Bitget Insights Global Launch Event. Bitget KCGI The biggest event of the year is back! In the last series, the best performers of 4,754 participants shared a total of 10 BTC (around US$300,000 in June) and achieved stardom thanks to Bitget’s extensive media coverage. Guess what the upcoming theme is? It’s World Cup’s time! We are proud to bring you the most exciting trading event, together with Lionel Messi. Sign up right now and start trading to have more winning chances! Begin Strategy Trading With Bitget Strategy Plaza As Bitget continues to revolutionise the social trading landscape for all things crypto, we are delighted to now introduce Bitget Strategy Plaza. Together with our One-Click Copy Trading and newly launched Bitget Insights, Bitget Strategy Plaza will offer investors and traders more flexibility in the way they interact with one another whilst fine-tuning their approach to the cryptocurrency market. If you’re new to the world of Strategy Trading, you can learn more about it over at our guidelines below: Bitget Strategy Plaza Introduction Bitget Strategy Plaza: How-To Guide for Users Bitget Strategy Plaza: How-To Guide for Strategists Join us now on these bountiful events: KCGI Special: Register to Win an iPhone 14 Pro Max and Bonuses! Triple Gifts! Contact VIP to Get 400 USDT, 45% Trading Fee Rebate, Plus a 60-Days VIP+1 Trial! GET $5 FREE on your First Trade, Available to All! Invite a Friend to Share $10, No Limit on Rewards! Bitget Insights Global Launch Event: Win Messi-Signed Gifts Share 100,000 BGB Join Bitget KCGI Internal AMA, Win USD $2,100 in BGB Bitget x ATAS Promotion: Share $40,000 in Trading Bonuses! New Traders Special: Join Bitget and Earn 40 USDT! High-Interest Earn in Limited Time and Amount, With VIP Privileges and BGB Packages! Follow Bitget Academy for more insights: Twitter | Telegram | LinkedIn | Facebook | Instagram

Bitget Hot Takes (October 17 - October 23)

Bitget Hot Takes is the exclusive weekly newsletter series by Bitget Academy, the 360-degree onboarding guide for all crypto enthusiasts. Bitget Hot Takes last week can be found here. Central Themes • BGB is up by nearly 20%, reaching the new ATH of US$0.23900. • Several countries are becoming more crypto-friendly. • BTC volatility is about to hit the all-time low. • Fidelity offers ETH to institutions. • After Aptos (APT), zkSync will be the next L1 token to be highly anticipated. BGB Recorded The New All-Time High This was an incredible week for BGB. Token price reached the new all-time high of US$0.23900 on Friday (October 21), keeping BGB hovering around US$0.20 ever since. That also led to BGB’s superiority in terms of weekly performance, especially in the category of exchange tokens. In terms of volume, BGB and FTT were the only two exchange tokens to see an increase in the last seven days. The numbers are 13.78% for FTT and a whopping 53.70% for BGB. At a current e2bfcae8-b458-4710-9cfc-35b6fd588501 capitalisation of less than US$500 million, BGB still has much room to grow. And it’s been riding the market’s waves since the beginning of 2022: BGB Sail: August Edition BGB Sail: July Edition BGB Sail: June Edition BGB Sail: May Edition Around The Crypto-verse More countries are seeing crypto as an opportunity rather than a threat. The Israeli government, in partnership with Fireblocks and VMWare, is about to issue blockchain-powered state bonds. The process should reduce costs and speed up the issuance as well as clearing. Japan is another country to stay crypto-friendly as the Japan Virtual and Crypto assets Exchange Association (JVCEA) plans to implement a shorter listing process for tokens (within 30 days) by March 2024. Hong Kong’s Securities and Futures Commission (SFC) is also considering making virtual assets available for retail investors despite regulatory clarity. And in the U.K., the resignation of PM Liz Truss has made way for pro-crypto Rishi Sunak to run for leadership. Changes in equities and forex markets have been rough. Surprisingly (or maybe not), cryptocurrencies have been able to hold themselves quite well: Bitcoin is still trading around US$19,000 - US$20,000 and global market capitalisation remains above US$900 billion. And Bitcoin’s volatility will soon hit the all-time low, as per Twitter KOL @i_am_jackis, whereas its 20D volatility is equivalent to that of NASDAQ for the first time since 2020. SP500’s volatility is also converging Bitcoin’s. Bitcoin volatility Source: Twitter @i_am_jackis and TradingView Source: Kaiko Analytics In general, trading Bitcoin futures, i.e. aping on price changes of the largest cryptocurrency, tends to outpace spot when it comes to volume because of high liquidity and no ownership/wallet knowledge requirement needed. Cash-margined futures has been replacing the previously popular crypto-margined futures since last year as it represents a less risky collateral structure. Last week, cash-margined OI Dominance reached the all-time high of 65%, meaning that two-thirds of the open positions are backed by cash. Source: Glassnode Bitget offers two options for cash-margined futures, including Bitget USDT-Ⓜ Futures and Bitget USDC-Ⓜ Futures, while supporting three major cryptocurrencies (BTC, ETH, and EOS) in Bitget Coin-Ⓜ Futures. Bitcoin mining sees more troubles as the European Union slides further into the energy crisis and mining difficulty once again made a new all-time high. Riot Blockchains, Inc., Coinbase, and ProShared Long Bitcoin Strategy funds are the three losers of the week. Talking about major cryptocurrencies, Ethereum's popularity has been driven by institutional investors after The Merge. Grayscale Ethereum Trust shows inconsistent returns, but that doesn’t stop Fidelity from offering Ethereum services to their institutional customers starting from October 28. That can’t be more perfectly timed: Ethereum staking rewards have climbed to 11% APR. Source: Lido Finance Aptos: Listing of the week The hottest name of the week must be Aptos. It’s the much-hyped, venture-backed Layer 1 built by former Meta employees. Its mainnet goes live on October 17, 2022, one day before its official listing on cryptocurrency exchange. What seems odd here is that the tokenomics summary was released only shortly prior to trading, and APT perpetual trading is available within less than 48 hours after spot trading. However, APT managed to reach US$10.25 and is still trading above US$9.00 at the time of writing. Trade APT Spot: Click here Trade APT Perps: Click here The next listing to watch for is that of zkSync with its mainnet launch in October and token detail release in early November. The community of DeFi giant Uniswap has reached a consensus to allow the deploying of Uniswap V3 on this blockchain. zkSync is expected to solve Ethereum’s scalability issues using zero-knowledge proof. Metaverse news In a sense, Metaverse has successfully infiltrated our normal life, with more and more companies embracing this opportunity:• Hollywood premier agency WME has signed a representation deal with Mack Flavelle, co-founder of Dapper Labs and CryptoKitties; • The Major League Baseball (MLB) is hiring an NFT and metaverse licensing manager; • Warner Bros released 10,999 NFTs for Lord of the Rings: The Fellowship of the Ring on October 21 at 9:00 AM (PST);• Ozzy Osbourne, DJ Dillon Francis, and Soulja Boy are the next to join Decentraland’s 2nd Metaverse Music Festival. And in South Carolina, U.S.A, a 3-BR house was sold as NFT for 175,000 USDC six days ago, marking the first NFT house sales ever. Exploits cont’d The victim of this week is the Celo-based DeFi lending protocol Moola Market, which suffered from an US$8.4 million attack on October 18. The team quickly offered a bounty reward for the hacker and received a positive signal as 93.1% of the stolen funds (US$7.8 million) were returned to the protocol’s wallet. Three days after the Moo-case, 30,437 OHM tokens were drained from one Olympus DAO’s smart contract on Ethereum and also returned within a few hours. Even the Ethereum Alarm Clock's smart contract was targeted by exploiters, which allowed them to receive 204 ETH in gas fee reimbursements. In For US$210 Million A total of US$144 million has been invested in blockchain projects in the last seven days with the following break-down: • US$4 million in Tapio, a synthetic asset protocol on Polkadot • US$18.8 million in blockchain dev tool provider ChainSafe • US$7 million in Web3 Builders • US$18 million in WazirX founder’s blockchain project Shardeum • US$30 million in crypto gaming infrastructure platform Stardust • US$3.2 million in Arcade2Earn, a gaming platform on Solana • US$55 million in modular blockchain infrastructure builder Celestia Labs • US$7.5 million in Mercury, a project focusing on college fan clubs Another US$66 million has been funded for crypto hedge fund Edge Capital’s two DeFi funds. The Latest Bitget News Do you know that you can earn up to 12% on your USDT deposit with Bitget Savings? Check out the tiered products here: Bitget Savings launches APR Tier for USDT Flexible Savings! To help investors overcome the sideways market, Bitget team has made Spot Grid Trading available even for very low investment capital! Learn more about this opportunity here. Enthusiastic investors can also trade fan tokens with Bitget Spot Grid Trading as well! Bitget’s KCGI The biggest event of the year is back! In the last series, the best performers of 4,754 participants shared a total of 10 BTC (around US$300,000 in June) and achieved stardom thanks to Bitget’s extensive media coverage. Guess what the upcoming theme is? It’s World Cup’s time! We are proud to bring you the most exciting trading event, together with Lionel Messi. Early birds can begin to claim their part of the 5,300 USDT prize pool as of this week! New Listings Spot Trading APTUSDT TAMAUSDTUNFIUSDT TITANUSDT TONCOINUSDT TRBUSDTTWTUSDTSAITAMAUSDT SNMUSDT SNTUSDTSOCUSDTSTMXUSDT STPTUSDTSUPERUSDTSYNUSDT ROUTEUSDTREPUSDTQKCUSDTQNTUSDT Futures Trading APTUSDT FOOTBALLUSDT AVAXUSDT New Events Bitget KCGI Warm-Up Competition: Share The 5,300 USDT Prize Pool Get $200 Free On Bitget P2P! Bitget Halloween Party Promotion Share A 30,000 BGB Prize Pool At “Zero Risk” With Bitget Grid Trading Easy $25 Reward For P2P Merchants! Bitget x Scott Melker: 180 USDT To Be Won For Each Trader Zero Fee Spot Trading Plus 120 XRP In Rewards! Bitget VIP: Deposit Trade For Mystery Boxes Of Up To 1 BTC Deposit Trade As A VIP Good Reads Bitget’s KCGI Full Guide (Part 1) Introduction To Spot Trading Managing Risks In Crypto Spot Trading What Is A Trailing Stoploss? Swing Trading Versus Day Trading Follow us for the latest updates: Twitter | Telegram | LinkedIn | Facebook | Instagram