☕️The Morning Cup: Tether USDT to be available at 24,000 ATMs in Brazil; Bitcoin becomes less volatile than stocks
Good morning, good day, and good evening. Welcome back to The Morning Cup. It’s your weekly recap of the latest in crypto news and your start to the week, no matter where you are. Don’t worry, we’ve selected just what you need to stay up-to-date, so you won’t spend time pouring through the news you don’t need, only the news you care about.
So what happened this week?
Bitcoin becomes less volatility than stocks — Kaiko
Another quiet week for the crypto market, which is a piece of good news since Bitcoin’s (BTC) volatility is now lower than that of both the Nasdaq and S&P 500, according to Kaiko, digital assets data provider. The firm said last week that the 20-day rolling volatility of the largest cryptocurrency by market cap has now fallen below that of the stock indexes for the first time since 2020 after hovering in the $19,000 level for more than a month. So, no news is good news, eh? At the time of writing, Bitcoin (BTC) and Ethereum (ETH) are trading at $19,337 and $1,344 respectively. As for the 24h gainers on Poloniex, they are NXT/BTC, GAS/BTC, CULT/USDT, SUSHI/USDT, ETHBULL/USDT and MATIC/USDT.
Tether USDT to be available at 24,000 ATMs in Brazil
Tether (USDT), the world’s biggest stablecoin by market cap, will be available at 24,000 ATMs in Brazil starting November 3, as the company said last week. Through the partnership with Brazilian payment company SmartPay, Tether will enable the conversion of USDT to Brazilian Reals ($R) since SmartPay is integrated with another local company, TecBan, which owns 24,000 ATMs in the South American country. Simply put, users will be able to send USDT from any wallet to an ATM. Cryptocurrencies are getting more and more popular in Latin America since token holders feel like their utility as stores of value is less volatile than that of national currencies.
Walmart CTO says crypto to play an important role in transaction
Walmart’s Global Chief Technology Officer, Suresh Kumar, believes that cryptocurrencies will play “a very important role” in how customers transact in the future. Speaking at the Yahoo Finance All Markets Summit, Kumar said he envisions a future where digital assets would be used both in Walmart’s online stores and in the virtual world. Kumar’s vision is aligned with Walmart’s ambition. Since the retail giant filed several new trademarks related to cryptocurrency and the Metaverse last year, that’s why the press has speculated that Walmart intends to sell virtual goods as well as allow users to use virtual currency as a form of payment, but the company has thus far remained mum on its plans.
Aptos the new Layer 1 with potentials to compete against Solana and Ethereum
A new layer-one blockchain with smart contract functionality, Aptos, was launched and airdropped its token to early users last Monday. Dubbed the “Solana killer”, Aptos has attracted a lot of media hype prior to its launch, since some believe that Aptos could solve the flaws in the existing ecosystems to support projects related to NFTs, DAOs, and DeFi. Aptos’s core team is made up of former members of Meta’s (then Facebook) failed Libra/Diem project, which has aroused a lot of interest. With $350 million in venture capital funding, two former Meta employees created Aptos with a special smart contract programming language, called MOVE, in addition to improved transaction throughput in hopes of improving scalability and modularity in the long run. However, Aptos was only processing a few transactions per second when it launched. Although some raised questions about the allocations of Aptos tokens (APT), a Singapore-based blockchain engineer and venture lead Siddhanjay Godre praised the launch, saying Aptos’ parallel execution model and very strong community are likely to compete with ETH in the future. The current top 10 layer-one blockchains by market cap are Bitcoin, Ethereum, BNB, Cardano, Solana, Polkadot, TRON, Avalanche, Algoran and Cosmos, according to Chainalysis.
New Listings on Poloniex
Here’s what we’ve listed recently:
New Coins
Futures
Polopedia
Check out our article on XEN, a community-powered project with a free to mint ERC-20 token, $XEN.
Knowledge is power! To create more insightful content to you on blockchain, Poloniex partnered with Blockchain@HKU to co-write an article about on-chain and off-chain transactions.
Crypto Glossary
This week, we explain a common acronym in the crypto world: WAGMI, which stands for the phrase of “We are gonna make it” or “We’re all gonna make it” according to Urban Dictionary. Like the acronym suggests, it’s a rallying cry to build hope and confidence in the crypto markets whenever good news comes out. However, some also use WAGMI to mock the market “cheerleaders” or influencers to make unrealistic and sensational claims about the future asset prices.
What’s happening here at Poloniex?
This is what Poloniex’s week looked like
Highlights for the week
Campaigns
Our recap of ongoing campaigns that YOU can get involved in!
Watch out for the Poloniex World Cup Carnival, coming soon!
Zebec Protocol(ZBC) Listing Giveaway: Invite Friends & Trade to Share 30,000 USDT (10/13–10/27/2022)
Poloniex October Referral Contest in Full Swing: 10,000 USDT up for Grabs! (Ends 10/31)
Become a Poloniex KOL to Win a Commission of up to 60% and Share 10,000 USDT (10/1–12/31/22)
The community megaphone📢
Highlights from the community
And that about covers it for this week! Curious about our campaigns or upcoming events? Give us a shout in our Telegram channel-
Is there anything you’d want to see us cover in our newsletter? Make sure to comment on this Medium article! Just want to show your appreciation? Smash that clap button and give a round of applause👏
Thanks for spending some time with us as we went over what’s going on. And wherever you are, from the team here at Poloniex, good morning, good day, and good evening!
