Meta continues to lose money through its Metaverse research and development arm, Reality Labs, posting a $3.67 billion loss for the third quarter of 2022 and predicting that these losses will worsen in the coming year.
Author: Adewale Opeyemi
Adewale Opeyemi
Adewale Opeyemi contributed to Blockchain Journal during 2022, covering cryptocurrency markets, blockchain technology, and industry developments. His reporting focused on explaining how emerging projects, protocols, and market trends evolved, with an emphasis on clarity, structure, and factual accuracy.Every day, I want to make a difference and leave a lasting beneficial impact on my community and the world at large. This I accomplish by assisting Blockchain brands and organizations in developing the best content for effective marketing that connects and converts prospects to customers.
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A CryptoQuant analyst pointed out that despite the recent price increases, the cryptocurrency market may be ready for another bear storm. This prediction is based on short liquidation data from the futures market, which is at a 15-month high.
According to Santiment, an Ethereum (ETH) whale wallet that had been inactive for an extended period of time and had not been operational in more than six years has now been functional. This change occurred at the same time as the bullish price activity in the ETH market was observed.
Throughout the course of this week, Twitter will continue its efforts to solidify its position as a leader in the web3 market. It has been rumored that a new cryptocurrency wallet built on web3 is now being developed for the social media corporation. These reports initially emerged from a well-known software frontend developer named Jane Manchun Wong.
Apple has recently implemented a new set of guidelines for crypto apps that may be downloaded from the App Store. These guidelines represent the company’s position on NFTs, cryptocurrency, and payment. When the market scale for iOS applications is considered, it is clear that this factor will significantly impact the direction of development decentralized applications will pursue in the foreseeable future.
On October 23rd, according to data compiled by Coingecko, PancakeSwap climbed to third place in terms of trading volume. However, the DEX may still have a way to go before it reaches the pinnacle. CAKE may be able to demonstrate growth in the future quarter because of its rising social interactions and speedy integrations, despite its falling TVL (Total Value Locked).
In its tweets, the Cardano Whale predicts that Cardano will have its “Ethereum moment” during the subsequent bull run. In order to clarify what he meant, ADA whale recalled the time when, over the course of the previous year, Cardano rose to become the third largest cryptocurrency based on market capitalization, while Ethereum ranked second.
The San Francisco-based cryptocurrency exchange, Coinbase, is building on-ramps for access to USDC in countries other than the United States to further the cause of economic liberty worldwide. The goal of the exchange is to make the stablecoin available for broader adoption by more people by doing away with the fees usually associated with buying and selling USDC using currencies other than the US dollar.
Ripple, a financial technology company headquartered in San Francisco, is getting closer and closer to winning its prolonged fight against the United States Securities and Exchange Commission (SEC).
As a result of the severe effects of the crypto winter and the general economic downturn, the German cryptocurrency bank Nuri announced that it would discontinue operations.
