14th August 2022 - Middle East

Ethereum is moving closer to applying a proof of stake model to its network. The Ethereum merge may be closer than we expected after one of Ethereum’s test networks, or testnets, called Goerli simulated a process identical to what the main network will execute in September. With this positive result, there is growing confidence that the merge will be on track.?

Since December 2020, the Ethereum community has been testing out the proof-of-stake workflow on a chain called beacon. Testing the merge has allowed developers to ensure that the software which will be running the Ethereum protocol was reliable and ready for the transition?

As a result of this merge, the gain in the price of Ethereum has surprised even the most daring investors.?Once the merge is complete, this will ensure a reduced energy consumption bringing the network one step closer to its long-term goals of security, scalability, and sustainability.

Top news this week included Dubai Chamber of Digital Economy forms ‘Dubai Digital Assets Business Group’?and UAE & Nigeria are the two nations with the highest levels of interest in crypto.?Since its development, over 44 million contracts have been deployed on Ethereum,?Starbucks introduces the Web3 Rewards Program in an effort to attract new customers, and Over 100 nations may now integrate Instagram NFT thanks to Meta.

Evai Crypto Ratings Review and The Economy?by Matthew Dixon

Education:-?Learn the basic principles of Solidity with Prof. Dr.?Fabian Sch?r?

Latest Investment News:-?Colexion

So here's what else happened this week in Crypto

In the News

$1 billion is raised for a cryptocurrency fund by Brevan Howard's subsidiary. According to a report, BH Digital, a crypto-focused vehicle for Brevan Howard Asset Management, has raised $1 billion in funds and has yet to commit some of those funds to the market. Crypto Briefing?

Dubai Chamber of Digital Economy forms ‘Dubai Digital Assets Business Group’. The association will give digital asset companies a platform to unite, address challenges in the market, and align their ambitions. Gulf News?

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Dubai consolidates its status as the world’s Web3 capital. Dubai has become a global capital of advanced technologies, primarily artificial intelligence (AI) and Web3, according to Emirates News Agency (WAM). Al Arabiya?

UAE & Nigeria are the two nations with the highest levels of interest in crypto. The UAE came in second with a score of 271, followed by Singapore at 261 and Australia at 218. The UK came in fifth overall with a score of 198. Finbold?

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Iran imports $10 Million worth of products for the first time using crypto. The Iranian Ministry of Industry, Mine, and Trade has made the nation’s first import of goods possible in cryptocurrencies. Reuters?

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Since its development, over 44 million contracts have been deployed on Ethereum Researchers have been exploring the Ethereum smart contract ecosystem, revealing some interesting findings. Crypto Potato?

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Bloomberg Intelligence reports Bitcoin may start acting like US Treasury Bonds. Bitcoin markets are likely to behave like those of Treasury bonds and gold during market recovery, said analysts. Cointelegraph?

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By 2032, Crypto needs to become useful, says Vitalik Buterin. Blockchain applications will need to prove their worth over the next decade, according to Vitalik Buterin. Crypto Briefing?

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Tickets for games at Oxford City Football Club will now be sold using bitcoin. For the first time ever, a sixth-tier English football club will wear the Bitcoin logo on its shirts and use Lightning Network payments to sell tickets. Cointelegraph?

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Smart Contracts powered by Cardano reach 3,000 for the first time. The Cardano (ADA) network has undergone tremendous progress since September 2021, when it was upgraded and gained smart contract capability. Crypto Globe?

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Launch Cart and OpenNode work together to provide bitcoin payments for e-commerce businesses. OpenNode will allow Launch Cart to accept Bitcoin as payment, with the help of Lightning Network. Bitcoin Magazine?

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El Salvador President claims that the rise in tourism was influenced by bitcoin. The World Tourism Organization and Google show that interest in visiting El Salvador has been increasing. Bitcoin News?

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Future elections in Brazil could utilise blockchain technology. Last month, the Brazilian voting authority announced that it was researching ways to use blockchain technology in ballots. Bitcoin News?

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Block, a cryptocurrency company, is among the top gainers on the 'Fortune 500'. Block.Inc (NYSE: SQ) is one of the biggest gainers on the 2022 Fortune 500 list, coming in at 208th place. Finbold?

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Over 39,000 cryptocurrency ATMs have been installed worldwide. The number of crypto ATMs has increased exponentially since September 1, 2020, when there were less than 10,000 in operation. Binance?

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Arte News:?

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Magic Eden wants to create a marketplace for ApeCoin NFT just for Bored Apes.? Magic Eden, which dominates the Solana NFT industry, has disclosed ambitions to diversify into the bigger Ethereum NFT market. Decrypt?

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Paris Hilton creates her own digital Malibu mansion in the Sandbox. Her virtual Malibu estate will host events like rooftop parties and Halloween celebrations, where her community will be welcomed as they get immersed in the system. Be In Crypto

More women entering the Metaverse through education and aesthetics. By focusing on aesthetics, accessibility, and education, brands can help make the Metaverse more women-friendly. Cointelegraph?

The descendants of a Bohemian noble family are redefining aristocracy by selling NFTs to preserve & share their 700-year-old legacy. A Prague prince is using digital technology to preserve and share his family's 700-year legacy. IQ Stock?

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Launch of new astrophysical NFT collection by KQuasars. In order to create a black hole and quasar generator, Kay Quattrocchi has teamed up with his son Harrisson Bordjel, the project's inspiration and co-creator, and Dutch generative artist Sander Sturing. Bitcoin News?

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To own anonymous NFTs, Vitalik Buterin suggests using stealth addresses. Vitalik Buterin, co-founder of Ethereum, said: “You would be able to send an NFT to vitalik.eth without anyone except me being able to see who the new owner is.” Cointelegraph?

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NFT distribution platform Pinata raises $21.5M in seed and series A funding. Pinata provides the tools for users to create marketplaces, metaverses, web3 apps, and NFT projects across all blockchains. Finemes?

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Tetris owner to launch blockchain gaming division and Web3 fund. The company will launch a new division that uses blockchain technology to reward players with real-world rewards for playing its games. Bitcoin News?

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StarHeroes recently obtained a Microsoft grant that will allow the blockchain-based game to join the legendary collection of games such as Forza Horizon, Sea of Thieves, and Tom Clancy’s Rainbow Six Siege. Bitcoin News?

Binance’s plan to become the leading Web3 gateway. Changpeng Zhao, the CEO and creator of Binance, outlines how the platform aims to be the entry point to Web3 by providing users with tools that are straightforward and approachable in order to inform consumers about what ownership means in the Web3 world. Arabian Business?

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The Metaverse exploration communication tool from Huobi is purchased by China's Taiyi Grou. Taiyi Group announced that it has acquired Huobi’s communication tool, dubbed Huoxun. The goal is to develop Huoxin into the world’s first social platform with a focus on data storage and the development of metaverse. The Coin Republic?

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Starbucks introduces the Web3 Rewards Program in an effort to attract new customers. According to interim CEO Howard Schultz, this will create an entirely new set of digital network effects that will attract new customers and be accretive to existing customers. Cointelegraph?

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Over 100 nations may now integrate Instagram NFT thanks to Meta. This entails introducing assistance for Coinbase Wallet and Dapper wallet connections, as well as the capability to upload digital collectibles created on the Flow blockchain. Instagram, a well-known social media platform, is the primary focus of the rollout. To publish an NFT on Instagram, one merely has to connect their digital wallet. Financial Express?

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IM Motors explores the metaverse to provide IM owners access to a "Drive-to-Earn" reward scheme. IM Motor has announced on August 7, 2022, that it will formally launch its Drive-to-Earn reward scheme, with Mileage Mining mode beginning for IM Valley, a metaverse created for its car owners to earn virtual "Stones" as they drive. It signifies the conclusion of IM Motors' Customer Share Option Plan, or CSOP, a project to return the power of data to its owners with rewards and incentives in real life.? Pay Space Magazine?

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NFTs are used by a Canadian taco franchise's customer loyalty program. Holders of the Tenacious Tacos collection are eligible to obtain both Web3 and genuine perks. The official announcement states that staked Tenacious Tacos may be redeemed for benefits including the chance to win free meals for life or monthly payments in ETH/WETH. Cointelegraph?

Evai Crypto Ratings Review

The Economy?- Matthew Dixon

Welcome headlines surfaced on several fronts this week including better-than-expected CPI inflation figures out of the United States along with news that Blackrock, the world’s largest asset manager is planning to offer exposure to Bitcoin for institutional investors via a private Bitcoin trust product.

Markets reacted positively to the news that fell in line with expectations from an Elliott Wave perspective. Crypto assets bounced from key Fibonacci extensions which may represent a long-term bottom in the market or at least solid support for future price action.

Ethereum was one of the biggest beneficiaries again of positive news that the long-awaited Ethereum merge may happen as early as September 15th.

Glassnode data revealed this week that the number of Bitcoin addresses with over 1 BTC has surged to an all-time high number totaling 894,303 as of 10th August, indicating the continuous accumulation of the digital asset.

While the number of whole coiners hit record levels Bitcoin dominance accounted for 41% of the overall crypto market capitalisation – its lowest since the start of 2022.

And finally, amongst the gainers this week, the Evai Ratings powered by AI and ML upgraded APM coin (APM) which posted an incredible surge in the price of +616% within 4 days.

Learn to Earn

Learn the basic principles of Solidity with Prof. Dr.?Fabian Sch?r?of the?Center for Innovative Finance (Universit?t Basel).

Latest Investment News

We are excited to announce that we have added another amazing investment to our portfolio. This time we have?Colexion, a new-age elite digital art collection marketplace.

It is among one of Asia’s largest licensed NFT marketplaces, allowing digital artists to enter the NFT space and channelise their passion for art and creativity.

That's it for this week, see you next week.