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Block Report: 1 November 2022

Your summary of everything blockchain related

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Sero

TLDR. Your summary of everything blockchain related:

  • Twitter announces users will be able to buy and sell NFTs from multiple blockchains including Ethereum

    Gamestop marketplace live on immutable

  • Google launches Blockchain Node Engine for Ethereum developers

  • Art Gobblers launches

  • Interest rate from FOMC announced tomorrow

  • Friday 4th November Nonfarm Payrolls announced

  • zkSync Baby Alpha arrives with Full Launch Alpha coming soon

  • 12% of circulating Ether is staked on Ethereum

  • Coinbase back Ripple in it's case against the SEC

  • Elon Musk referencing CryptoDickButts causes the floor to rise by almost 50%

  • Binance aiding Elon Musk in integrating Crypto to Twitter after contributing 500M to Twitter's purchase. CZ says Twitter should support multiple cryptocurrencies

  • Visa launches first NFT auction, Masters of Movement

  • Total number of addresses holding over 1 ETH reaches another all time high

  • Solidity becomes the no.1 highest paid programming language in 2022. Avg. salary $151k per year


Into the details:

As crypto continues to rally it's important to be cautious with many of the significant macro announcements coming in the next two weeks (Interest rate, NFP, Midterms and Inflation). Whilst a lot of what we have seen show's good reason to be confident in crypto, all these announcements pertain to macro events which have a sizeable impact on peoples willingness to invest, and therefore it pays to proceed with caution.

Having said the above, as always, the recent pumps in crypto prices, particularly Ethereum, indicate extreme confidence and in my eyes bolster ever more resilient resistance levels. On this note it's also worth mentioning L2's are frequently beating Ethereum's daily transaction volume and are consistently doing significantly more transaction volume than Bitcoin + the Lightning network. Both Optimism and Arbitrum now have a larger TVL than Solana.

To look out for:

  • 24hrs left to claim the Blur airdrop

  • Stani Kulechov (Aave founder's) Lens Protocol. Lens is the most compelling decentralised social media use case we've seen yet with meaningful steps towards social media users owning their audience. Post once and appear on every single social media app built on the protocol. Out of all the apps, we'd recommend taking a look at Orb with it's glossy interface and mobile app.

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*Disclaimer: None of the above represents financial advice.

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