Web3🌕Monday Watch: Bitcoin Surges, Hal Finney's Mystery, Developer Shortage, Google & BlackRock's FTX Move
1. Bitcoin Breaks $30K, Paving the Way for SOL, LINK, AAVE, STX
2. The Hal Finney Enigma: Non-Satoshi Status?
3. Web3 Grapples with Developer Shortage
4. Google & BlackRock's Move into FTX Investment
Let's delve into the specifics!🚀
Hello, and welcome to a brand new week in the dynamic world of Web3! We're starting off with a bang as Bitcoin smashes through the $30,000 mark, setting the stage for potential surges in SOL, LINK, AAVE, and STX. But that's not all - there's a captivating revelation about the legendary Hal Finney's role in the creation of Bitcoin. Moreover, Web3 faces an intriguing challenge with a shortage of developers. And in a surprising move, industry giants Google and BlackRock are making waves with their investment in FTX. Join us as we dive into the exciting details of these groundbreaking developments!
1. Bitcoin Breaks $30K, Paving the Way for SOL, LINK, AAVE, STX
Bitcoin (BTC) has recently surged to $30,000, sparking speculation about the sustainability of the rally. Analysts at Stockmoney Lizards suggest that an ETF approval could drive further adoption and propel a rally before the 2024 halving. This optimism has also influenced several altcoins, hinting at a positive shift in sentiment.
In Bitcoin's case, a consolidation around $30,000 indicates bullish resilience, potentially pushing it towards the $31,000-$32,400 range. However, a drop below the 20-day EMA could shift sentiment.
Solana (SOL) broke out of a bullish inverse head and shoulders pattern, eyeing a target of $32.81. Overbought levels hint at a possible correction, with key support at $27.12. A bounce here could strengthen the bullish case.
Chainlink (LINK) attempts to break a long-standing range, but resistance persists. A successful breach of $9.50 could lead to a rally towards $13.50.
Aave (AAVE) invalidated a descending triangle setup, signaling a potential bullish move towards $88 and $95, though an overbought RSI suggests caution.
Stacks (STX) is poised for an uptrend, with an uptick in moving averages. However, an overbought RSI implies a potential short-term correction, with initial support at $0.54. If maintained, the rally may continue towards $0.80 and $0.90.
Rakesh Upadhyay
2. The Hal Finney Enigma: Non-Satoshi Status?
Jameson Lopp presents evidence suggesting Bitcoin pioneer Hal Finney couldn't have been Satoshi Nakamoto due to concurrent activities during crucial moments in Bitcoin's early days. The data includes a 10-mile race Finney participated in and timestamped emails between Satoshi and Mike Hearn. On-chain transactions and Finney's health condition further challenge the theory. Lopp acknowledges potential objections to this evidence but argues that Satoshi's work exhibits the consistency of a single developer. Hal Finney, a prominent figure in the crypto community, battled ALS and passed away in 2014. The investigation sheds new light on the enduring mystery of Bitcoin's creator.
Brayden Lindrea
3. Web3 Grapples with Developer Shortage
Web3 faces a significant shortage of developers, despite the high caliber of those currently in the field. The demand for blockchain experts is exceptionally high due to the complexity of projects, creating a scarcity akin to talented drummers in a band. A survey by Versatus Labs underscores the need for more training and resources in web3 development. Over 1,000 developers were polled, with the majority citing a lack of support, the need to adapt their skill set, and the complexity of learning new languages as significant hurdles in building decentralized applications. To address this, offering support for popular programming languages and increasing access to training resources, especially for young students, is crucial for web3's growth and innovation.
4. Google & BlackRock's Move into FTX Investment
FTX approached BlackRock and Google for funding before encountering financial difficulties. The funding round did not materialize. Bankman-Fried, facing charges, is accused of misusing customer funds. BlackRock invested before FTX's collapse. Google, though not a direct investor, shares a cap table with Bankman-Fried. Other firms declined to participate. The funding round never closed, according to FTX's former counsel. Former Alameda CEO mentioned efforts to raise capital. Saudi Crown Prince considered buying equity, but it didn't materialize. A Paradigm co-founder highlighted concerns about FTX's handling of customer deposits.
André Beganski
As we wrap up this exploration of Web3's latest highlights, it's clear that the digital frontier is as vibrant and complex as ever. From Bitcoin's remarkable ascent to the Hal Finney enigma, the challenges of developer scarcity, and the intriguing moves of industry titans like Google and BlackRock, this is just the tip of the Web3 iceberg. Stay tuned for more exciting developments, and remember to stay updated as this evolving landscape continues to redefine the future. Thank you for joining us on this journey through Web3's intriguing buzz! Until next time, stay informed and stay inspired.
