Daily Crypto, Finance, and Tech News Summary – November 2, 2023

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Welcome, and thank you for being part of the MyZucoins community! Let’s get into an interesting piece of crypto, finance, or tech news to stay ahead.

Bulls on surfboards riding waves

Hard Lessons Learnt For Crypto Industry’s Next Wave?

The crypto market is witnessing another surge, with Bitcoin’s value holding steady at around USD $35,000.

Analysts claim the resurgence is largely influenced by the imminent launch of ETFs, which could potentially channel billions of dollars into the crypto industry.

Moreover, the industry’s newfound optimism following the fallout from Sam Bankman-Fried’s trial has also contributed to this upswing.

The obvious evidence is that, as we already know, FTX was incredibly poorly managed, nothing related to the inherent nature of crypto technologies themselves.

With the onset of a potential new crypto wave, the industry is potentially bracing for a sea of speculative investment.

It is also seen as an opportunity to showcase the lessons learned from the previous boom-and-bust cycle that witnessed Bitcoin prices skyrocket to nearly USD $70,000 and saw the rise of innovations such as NFTs and DeFi, but also the emergence of controversial figures like Bankman-Fried (FTX – Bankrupt), Do Kwon (TerraUSD and cryptocurrency Luna which crashed), and Alex Mashinsky (Celsius Network also bankrupt), amongst numerous others.

The mantra ‘trust but verify’ resonates strongly within the industry.

Another lesson learned from the previous cycle is the need for crypto entrepreneurs to focus on product-market fit rather than simply releasing a token for quick financial gain.

The industry needs to make crypto as user-friendly as everyday tools like social media, music and movie streaming websites and online banking, to truly gain lasting traction.

The attitude within the crypto industry is also under scrutiny, with calls for more maturity and less hostility towards both regulators and investors.

Drama and eccentricity are seen as part of the fun in crypto, but there’s a growing demand for more professionalism as the industry embraces more institutions.

While it’s too early to confirm if the current surge is a sign of a new breakout moment, crypto veterans are challenged to demonstrate not just experience but wisdom in navigating this potential new era. Read more here.

More On This Topic:

Transition from a ‘Wild West’ mentality to a more regulated future.

Honest state of the traditional crypto industry.

Risky business – The dangers of many crypto exchanges. 

Seven Bitcoin exchange-traded fund (ETF) applications are awaiting their verdicts.

BlackRock, the world’s largest asset manager, recently applied for a spot Bitcoin ETF.

Bitcoin ETFs have been generating buzz recently, but what exactly are they?

An ETF, or Exchange-Traded Fund, is a type of investment fund.

Is Zucoins Ready For A Possible Crypto Industry Resurgence?

With Bitcoin maintaining its standing around USD $35,000, the launch of ETFs is eagerly awaited by many.

While many who used traditional cryptos were burnt during the last cycle’s crash, those who weren’t playing a game of music chairs are positioning themselves for this coming wave.

Internally, the industry is brimming with a positive outlook, signaling a possible new surge in crypto.

Zucoins, currently in the advanced stages of development, is focusing on factors such as decentralized scalability to handle mass transactions, adding to their arsenal of carefully considered system capabilities.

The industry is acknowledging the demand for a product-market fit over the rapid day-trading circus that overshadowed the industry during the last couple of market cycles (and it’ll probably appear in the next wave too).

What’s clear though, is the hardened focus institutions have on acknowledging solutions are needed to solve deep-rooted problems facing many blockchains.

As Albert Einstein is claimed to have mentioned, “In the middle of difficulty lies opportunity.”

Not by coincidence, like the institutions, this is where Zucoins has been heavily focused on too, providing real-time transactions, 2-factor authentication, and zero transfer fees, making crypto as easy to use as common apps.

The industry’s demand for maturity and professionalism is met by Zucoins’ sustainable and efficient digital asset approach, reducing environmental damage.

For Zucoin, the crypto industry’s potential resurgence is a chance to double down and show the world what Zucoins and its Splitchain network can really do.


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All the best,
Peter & Rob
MyZucoins

Disclaimer: Of course, this is not advice, financial or otherwise. It’s also important to consider the risks and challenges associated with any potential benefits.