• Celo is voting on a proposal to increase the network’s minimum gas threshold.
• The proposal seeks to increase the minimum gas threshold to $0.001 for simple ERC-20 transactions.
• If the proposal is passed, only the base fee will be impacted while the validator rewards from the gas fee will remain unchanged.

The blockchain-based smart contracting platform Celo is currently voting on a Governance Proposal 0066 that aims to increase the network’s minimum gas threshold in order to prevent Denial-of-Service (DDoS) attacks. As of the time of writing, the turnout stands at 2.6% of the total supply, with 6,840,826 CELO locked as votes and 6,840,116 CELO supports the proposal. The proposed base fee increase applies to all Celo transactions and fluctuates depending on demand.

Celo is a mobile-focused smart contracting platform that is compatible with Ethereum’s virtual machine, and uses the PBFT consensus mechanism. CELO is the native currency of the platform, and users can pay for gas fees using ERC-20 currencies, not just CELO. The proposed increase in the minimum gas threshold follows the EIP-1559 standard, which specifies that there must be a minimum fee that applies to all Celo transactions regardless of the validator processing the transaction.

If the Governance Proposal 0066 is approved, only the base fee will be impacted. The validator rewards from the gas fee will remain unchanged. This will help to ensure that the network stays secure and that DDoS attacks are prevented. Additionally, Celo has stated that even though the base fee might increase slightly, network activity will not be significantly impacted.

The voting for the proposal started on Wednesday 18th January and will end on Friday 27th January. Those who wish to participate in the vote should lock their CELO in order to have their say in the decision-making process. The outcome of the vote will be determined by the validators, and the results will be announced on 27th January.

Overall, the Celo Governance Proposal 0066 seeks to increase the minimum gas threshold to $0.001 for simple ERC-20 transactions, which would help to protect the network and keep it secure. The proposal has received strong support, and the voting process is currently ongoing. The results of the vote will be announced on 27th January.

• FTX’s collapse caused Binance Coin (BNB) to suffer a temporary loss of trust and excessive price losses.
• BNB has since risen 9.3% over the last seven days and is now facing a bearish pattern on the weekly chart.
• If BNB breaks the neckline at $210 to the downside, BNB could see a downtrend within the next few weeks, pushing the price toward $153.

The world of cryptocurrency was rocked by the collapse of FTX, one of the largest exchanges in the space. Following the news, investors quickly turned their attention to the now undisputed largest crypto exchange, Binance. BNB, the exchange’s native token, suffered a temporary loss of trust and experienced heavy price losses due to the fallout. However, in recent days, the BNB price has been recovering and is now up 9.3% over the past seven days, trading at $301 at the time of writing.

While the market sentiment is generally bullish and there have been some positive developments from Binance in recent days, the BNB chart is in a precarious situation. On the weekly chart, a bearish pattern is forming which often indicates a trend reversal. This pattern typically consists of three peaks, with the two outer ones close to each other and the middle peak being the highest. The left shoulder forms when investors drive the price up, and then temporarily lose their enthusiasm. The head is formed when enthusiasm reaches its peak, and the right shoulder is formed when the price rises again, but does not reach its previous peak before falling again.

The head of the BNB weekly chart was formed in the week when FTX filed for bankruptcy, and since then the price has been in decline. Now, the BNB price is facing a crucial scenario. If BNB breaks the neckline at $210 to the downside, it could validate the bearish pattern and BNB could see a downtrend within the next few weeks, pushing the price toward $153.

• Ethereum 1-Month Realized Volatility has dropped to 39.8%, reaching rare levels never seen before in history.
• The “Realized Volatility” metric is an indicator that measures the standard deviation of daily returns from the mean for the market in question.
• Low values of this metric suggest that the asset’s price has been stuck in stale consolidation.

As the crypto market continues to mature and become more stable, it’s becoming increasingly clear that the underlying technology behind it, Ethereum, is also experiencing a significant drop in volatility. On-chain analytics firm Glassnode recently reported that Ethereum’s 1-month realized volatility has dropped to a rare 39.8%, a level that has only been seen three times before in history.

The “Realized Volatility” metric is an indicator that measures the standard deviation of daily returns from the mean for the market in question. The indicator is usually taken over a rolling window, with the one-week and one-month versions being generally the most useful timespans for it. In the context of the current discussion, the relevant metric is the one-month realized volatility.

When the value of the metric is high, it means the asset’s price has been showing greater fluctuations from the average recently. Such a trend implies that the market is providing a high trading risk currently. On the other hand, low values suggest returns haven’t deviated much from the mean, and hence that the price has been stuck in stale consolidation.

The recent drop in Ethereum’s volatility is a sign that the crypto market is maturing and becoming more stable. This is a positive development for the industry as a whole, as it indicates that investors feel more confident investing in crypto and that the industry is becoming more reliable and stable. It also indicates that the underlying technology behind Ethereum is becoming more reliable and secure, as investors are more willing to trust it with their funds.

The current low volatility in Ethereum is likely to remain for some time as the market continues to mature and become more stable. As the industry continues to grow and evolve, it’s likely that the volatility of Ethereum will continue to decline, indicating that investors are more confident in the technology and the industry as a whole.

• The crypto market experienced a great deal of turbulence in 2022, with total market capitalization falling from $2.2 trillion to below $800 billion.
• The five best-performing cryptocurrencies of the year were Ethereum (ETH), Bitcoin (BTC), Binance Coin (BNB), Polkadot (DOT), and Cardano (ADA).
• Despite the market crash, experts still believe that Ethereum will be back above $3,000 by the end of 2022.

The crypto market has seen a great deal of upheaval in the past year, with some devastating losses for those invested in the sector. At the beginning of the year, the total market capitalization of all cryptocurrencies was estimated to be $2.2 trillion. However, by the end of 2022, this amount dropped drastically to below $800 billion. This shows a great degree of turbulence in the crypto market, with many of the sector’s top companies going belly up due to the exuberant peaks in the early part of the year.

The five best-performing cryptocurrencies of the year were Ethereum (ETH), Bitcoin (BTC), Binance Coin (BNB), Polkadot (DOT), and Cardano (ADA). Ethereum, the most well-known altcoin, lost just under 70% of its value, going from a high of $3,000 in 2021 to around $1,194 at the time of writing. Bitcoin also suffered a significant dip in value, going from a high of $58,000 to around $32,000. Binance Coin, Polkadot, and Cardano also took a hit, with BNB losing around 70% of its value, DOT dropping almost 50%, and ADA falling by around 80%.

Despite the significant drop in value for the five best-performing cryptocurrencies of the year, experts still remain optimistic about the future of the sector. They believe that by 2022, Ethereum will be back above $3,000 and that other coins will also rebound from their losses. Furthermore, as the industry matures, more regulations and safeguards will be put in place, creating a more secure environment for investors and traders alike.

Overall, the crypto industry has gone through a tumultuous period in the past year, and while some have suffered more losses than others, the sector still has potential for growth. With the right regulations, safeguards, and investments in place, the crypto market could be back on track in the coming years. Whether this will actually happen remains to be seen, but investors should remain vigilant as the industry continues to mature and progress.

• The NFT market took a significant beating in 2022, with trading volume down more than 94%.
• However, there has been an upturn in NFT volume in the last month, with daily trading volume up 42% in December.
• While volume in dollar figures may be up, investors are still buying fewer NFTs and the number of collections has nosedived in the last few days.

The Non-Fungible Token (NFT) market had a rollercoaster of a year in 2022. It started off with a bang as trading volume reached its peak at the beginning of the year. With the rise of blockchain-based digital collectibles, investors were eager to get their hands on these digital assets. Unfortunately, the NFT market soon took a hit and trading volume has been on a downward spiral ever since. By the end of the year, trading volume had dropped more than 94%, leaving many investors feeling discouraged.

However, things may be looking up for the NFT market. Data from IntoTheBlock shows that over the last month, there has been an increase in NFT volume. At the start of December, daily trading volume stood at $33 million and by December 29, this figure had risen to $47 million. This represents a 42% increase in trading volume in 30 days. Moreover, a 7-day chart shows that trading volume has more than doubled over the last week, and this has led to renewed vigor in the NFT market this week.

Despite the uptick in volume, investors still seem to be shying away from investing in NFTs. The number of NFT sales has nosedived in the last few days, with 63,000 new sales on Thursday compared to 123,000 on Wednesday. This means that while trading volume may be up in dollar figures, investors are still not buying as many NFTs and this could be an indication that the NFT market is still not out of the woods yet.

It is too early to tell whether the NFT bull market is back in full swing, but the recent increase in volume is certainly a good sign. As more and more investors begin to recognize the potential of these digital assets, it is likely that the NFT market will continue to grow in the coming months.