NNF: A minor pullback or Uptober is here? | Crypto Market flex strength
Green is the way!
Crypto Market showed strength this week.
This week on NNF (Navigate with Nord Finance), Let’s dive into the market, news, and Web3 tidbits.
NNF of the week:
1 Min Market:
The Crypto Market flexed its strength to end a bit high this week. Many crypto investors have started to quote the history of $BTC performance in the month of October.
Uptober is the term of the week. The month of October has historically been solid for the $BTC.
$BTC shows a lot of volatility in short term but if you check the past performance month-wise you’ll notice $BTC has performed strongly over the last few years.
For the last 5 years, $BTC has given a 25% Avg. upside performance in October month. Pretty impressive, right?
Remember, past performance is not an indication that this year $BTC will also rise the same amount. However, it increases the odds of $BTC staying strong this month.
Check out this week’s market overview. Market holding strong despite many negative events across the globe.
Blockchain Bytes | Crypto Mining
This week, we’re demystifying crypto mining in this segment. Quickly get an idea of mining.
What is Crypto Mining?
Bitcoin and other cryptocurrencies use mining techniques to generate new coins to verify new transactions.
A decentralized network of computers around the globe verifies and secures blockchain ledgers to track transactions.
Why would someone allow their computer’s power for blockchain maintenance?
If you give your computer’s processing power to maintain the network, you would be rewarded with network coins. It is a give-and-take relationship between the blockchain network and the miner to keep the blockchain network running efficiently.
Nowadays, Mining requires a large amount of power and sophisticated processors which are costly for individuals. Mega mining is done by specialized mining companies and large groups of people.
KYCN (Know Your Crypto News)
We’ve shortlisted the most interesting and important news that can impact the market in the future. We’ve given simple takeaways that are important for your investment decisions.
McDonald’s will accept Bitcoin in Lugano.
- Lugano, a hotspot for crypto adoption is welcoming a new payment method at Lugano.
- This move will guide other fast-food companies to dabble into Crypto Payment methods in the coming months.
Fumio Kishida, the prime minister of Japan hinted at government investment in promoting Web3 services including NFT and Metaverse
- Japan is set to explore a new way to use NFT and Metaverse for real-life use cases.
- This move is positive for companies providing NFT and Metaverse projects.
EU Council approves MiCA (Markets in Crypto-Assets), and the proposal moves to Parliament for a vote
- The MiCA proposal will create a uniform regulatory framework for Crypto assets in the EU.
- In simple terms, This will bring more clarity for an investor like us and institutions on how to transect crypto without any regulation worries.
Parliament of the EU voted to consider “simplified tax treatment” for crypto users involved in occasional or small transactions.
- The move will simplify tax for retail users.
- This will help more people to own Crypto without worrying about tax hassle.
OpenSea will allow users to submit bulk NFT listings and purchases
- This move will improve buying and selling experience of your NFT transactions.
BTS Scoop of the week:
Our NNF (Navigate with Nord Finance) newsletter subscribers have received an update on our upcoming Crypto Investment Platform.
Next Week, we’ll release a new BTS scoop to subscribers. So, Don’t forget to subscribe.