- Bitcoin (BTC) gained over 3% last month [CMC].<\/strong> On-chain activity is showing rich wallets (whales) holding more coins, while several experts<\/a> are pointing to a new rally for this year. In the meantime, the total cryptocurrency market cap has increased by 8% in the same period.
<\/li>- Traditional markets are quickly falling into a feared financial crisis<\/strong>. Switzerland’s second-largest bank, Credit Suisse<\/a>, is at the border of bankruptcy \u2014which could worsen the current global crisis by a domino effect. Besides, as indicated by the analytics firm Coalition Greenwich<\/a>, the 200 biggest investment banks are having their lowest income in ten years.
<\/li>- Inflation isn\u2019t stopping worldwide, either<\/strong>. Due to an energy crisis, Europe is showing<\/a> the highest inflation in its history (10.7%), and the UK registered its highest inflation in 40 years (10.1%). Other global powers, whose economies used to be more stable, are also suffering from it. They include Japonia<\/a>, Germany, Italy, China<\/a>, and the US. According to the Na\u021biunile Unite<\/a>, we\u2019re almost inevitably heading to \u201cglobal recession and prolonged stagnation.\u201d<\/li><\/ul>\n\n\n\n
![\"Crypto-October-2022-Inflation\"](\"https:\/\/alfacash.blog\/wp-content\/uploads\/2022\/11\/dollar-rate-544949_1920-1024x724.jpg\")
<\/figure><\/div>\n\n\n\n- Amid the financial chaos, Elon Musk finally acquired Twitter<\/strong>, si Dogecoin<\/a> (DOGE) price has increased by over 100% since the news came out. Shiba Inu<\/a> (SHIB) enjoyed a similar increase (+40%) for the same reason. The users of these memecoins are expecting<\/a> Musk to include them as payment methods on this popular social platform.
<\/li>- Other crypto gainers in October 2022 include the DEX Osmosis (+34%),<\/strong> the GameFi blockchain Klaytn (+29%), the native token of Telegram, Toncoin (+16%), Ethereum<\/a> (+14%), BNB (+11%), Litecoin<\/a> (+9%), Aave (+6%), and Monero<\/a> (+3%). The Total Value Locked (TVL) in DeFi platforms barely decreased during the same period (-0.17%). The current leaders are MakerDAO, Lido<\/a>, Curve, Aave, and Uniswap [DeFiLlama].<\/li><\/ul>\n\n\n\n
Reglement\u0103ri privind cripto<\/strong><\/h2>\n\n\n\n
- An extensive regulatory package for crypto is coming to the European Union<\/strong>. The long-awaited Markets in Crypto-Assets (MiCA<\/a>) law is almost established now. Besides, lawmakers are aiming<\/a> to apply the travel rule for crypto users and service providers and oversee DeFi protocols. They already banned<\/a> interactions with Russian crypto wallets, and, if the energy crisis continues, they\u2019re planificare<\/a> \u201cto stop crypto-assets mining\u201d.<\/li><\/ul>\n\n\n\n
![\"China-ban-bitcoin-mining\"](\"https:\/\/alfacash.blog\/wp-content\/uploads\/2021\/06\/traffic-signs-674623_1280-1024x681.jpg\")
<\/figure><\/div>\n\n\n\n- The UK will recognize cryptos as financial instruments with a new law<\/strong>. The proposed<\/a> Financial Services and Markets Bill is aiming to regulate and control crypto assets, stablecoins<\/a>, and their promotion (like ads). Meanwhile, Namibia permis<\/a> payments in cryptocurrency, and it\u2019s preparing a regulatory frame for Fintech. Likewise, South Africa recognized<\/a> crypto assets as \u201cfinancial products\u201d and allowed their commerce.
<\/li>- Latin America is also developing more regulations for crypto this October 2022<\/strong>. Brazil, Chile, Colombia, Costa Rica, Panama, and Paraguay are preparing their own laws for it. The last country, indeed, already increased<\/a> energy fees for intensive consumption outside the productive sector \u2014which includes crypto mining<\/a>. They\u2019ll be paying even 58% more from now on.
<\/li>- The US Securities and Exchange Commission (SEC) is now studying the Bored Ape Yacht Club (BAYC)<\/strong> NFT collection. \u00cencearc\u0103<\/a> to decide if those NFT-uri<\/a> could be securities, thus, violating US laws while going unregistered. For now, a lawsuit isn\u2019t planned. On the other hand, the NGO Coin Center is actually suing<\/a> the US Department of Treasury for the Tornado Cash<\/a> case.<\/li><\/ul>\n\n\n\n
Hacks \u0219i securitate<\/strong><\/h2>\n\n\n\n
- Around 47 crypto DeFi and CeFi platforms were attacked or committed crypto scams in October 2022. The losses can be estimated at almost $1.1 billion this time<\/strong>, which it\u2019s a serious increase of over 550%<\/strong> compared to \u00een septembrie anul trecut<\/a> [DeFiYield]. However, most of those funds ($766 million) were seized by Brazilian authorities from a Ponzi crypto scheme<\/a> led by Francisco Valdevino da Silva, also known as \u201cBitcoin Sheikh\u201d. \u00a0<\/li><\/ul>\n\n\n\n
![\"Crypto-october-2022-scam\"](\"https:\/\/alfacash.blog\/wp-content\/uploads\/2020\/09\/scam-4126798_1280-1024x682.jpg\")
<\/figure><\/div>\n\n\n\n- BNB Chain also suffered a high-profile hack of over $566 million<\/strong>, but they minimized<\/a> the losses to around $89 million. In Solana<\/a>, a hacker also robbed $116 million from the DEX Mango Markets, but the team was able to recover at least $69 million. Sadly, on Ethereum, the investors of the miza<\/a> platform Freeway suffered a rug pull of over $60 million.
<\/li>- The Bitcoin Lightning Network (LN) suffered its first massive interruption last month<\/strong>. Several operators and wallets were unable<\/a> to create payment channels<\/a> after the LND client crashed for a big multi-signature transaction. The software was quickly updated, but the same bug appeared din nou<\/a> just entering November. The development team updated once more.
<\/li>- The mining pool NiceHash lost 6.3 BTC (around $119k) after a mistake<\/a> in the process. Now, those 6.3 bitcoins are joining the forever lost coins, making the currency scarcer<\/strong> (and potentially more valuable<\/a>). Meanwhile, Bitcoin Core<\/a> is preparing a new update (\u201cErlay<\/a>\u201d) to improve transactions with low connectivity and increase the security on the network at the same time.<\/li><\/ul>\n\n\n\n
Other crypto news in October 2022<\/strong><\/h2>\n\n\n\n
- Starting the next year, Google Cloud will start accepting cryptocurrencies as a payment method<\/strong>. They\u2019ll also work on<\/a> new web3 projects along with Coinbase. In the same vein, Mastercard will allow<\/a> crypto trading for banks, and the New York Digital Currency Group (NYDIG) will launch<\/a> an Institutional Bitcoin Fund.<\/li><\/ul>\n\n\n\n
![\"\"](\"https:\/\/alfacash.blog\/wp-content\/uploads\/2022\/10\/investment-savings-bitcoin-1024x592.jpg\")
<\/figure><\/div>\n\n\n\n- The Bitcoin hashrate (computational power with nodes and miners) increased by over 12%<\/strong> during October 2022 [Hashrate Index<\/a>]. This is good for speed and security, but bad for miners\u2019 rewards<\/a>. Despite low profitability, Bitcoin miners are still holding; but mining-specialized companies are turning<\/a> to additional activities with their machines, like high-performance computing applications.
<\/li>- The American celebrity Kim Kardashian was fined $1.26 million by SEC<\/strong>, after advertising the token EthereumMAX (EMAX) in 2021. Numerous investors<\/a> lost their money for this since EMAX wasn\u2019t a successful project. Meanwhile, a Norwegian court ruled against<\/a> Craig Wright during the popular trial with the bitcoiner Magnus Granath (Hodlonaut), who accused him of being a fraud in 2019.
<\/li>- Visa and PayPal are looking to create new projects around crypto assets<\/strong> si Metaverse<\/a>. The first company<\/a> filed a trademark hinting at a new crypto wallet and a Metaverse, while the second one<\/a> also filed a trademark for, apparently, creating their own NFT marketplace. The exact nature of the projects isn\u2019t yet confirmed, though.<\/li><\/ul>\n\n\n\n
\n\n\n\nWanna trade BTC,<\/em> ETH \u0219i alte tokenuri? Po\u021bi face asta<\/em> \u00een siguran\u021b\u0103 pe Alfacash<\/a>\u0218i nu uita\u021bi c\u0103 vorbim despre asta \u0219i despre multe altele pe re\u021belele noastre de socializare.<\/em><\/p>\n\n\n\n
Telegram\u0103<\/a> * Facebook<\/a> * Instagram<\/a> * YouTube<\/a> *Stare de nervozitate<\/a><\/p>","protected":false},"excerpt":{"rendered":"
Traditional markets are bleeding all over the world, but cryptos seem bullish. As usual, let\u2019s check the best crypto news from October 2022.<\/p>","protected":false},"author":5,"featured_media":11696,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_sitemap_exclude":false,"_sitemap_priority":"","_sitemap_frequency":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[47],"tags":[43,218,69,118,300,253],"class_list":{"0":"post-11687","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-trends-alfacash","8":"tag-bitcoin","9":"tag-cryptocurrency-market","10":"tag-prices","11":"tag-regulations","12":"tag-security","13":"tag-summary"},"featured_image_src":"https:\/\/alfacash.blog\/wp-content\/uploads\/2022\/11\/October-2022_-The-Best-News-blog.jpg","author_info":{"display_name":"Isabel P\u00e9rez","author_link":"https:\/\/alfacash.blog\/ro\/author\/isabel\/"},"yoast_head":"\n
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As usual, let\u2019s check the best crypto news from October 2022.","breadcrumb":{"@id":"https:\/\/alfacash.blog\/2022\/11\/02\/october-2022-best-news-cryptocurrency-market\/#breadcrumb"},"inLanguage":"ro-RO","potentialAction":[{"@type":"ReadAction","target":["https:\/\/alfacash.blog\/2022\/11\/02\/october-2022-best-news-cryptocurrency-market\/"]}]},{"@type":"ImageObject","inLanguage":"ro-RO","@id":"https:\/\/alfacash.blog\/2022\/11\/02\/october-2022-best-news-cryptocurrency-market\/#primaryimage","url":"https:\/\/alfacash.blog\/wp-content\/uploads\/2022\/11\/October-2022_-The-Best-News-blog.jpg","contentUrl":"https:\/\/alfacash.blog\/wp-content\/uploads\/2022\/11\/October-2022_-The-Best-News-blog.jpg","width":2123,"height":1120,"caption":"October-2022-crypto-Summary"},{"@type":"BreadcrumbList","@id":"https:\/\/alfacash.blog\/2022\/11\/02\/october-2022-best-news-cryptocurrency-market\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/alfacash.blog\/"},{"@type":"ListItem","position":2,"name":"October 2022: The Best News from The Cryptocurrency Market"}]},{"@type":"WebSite","@id":"https:\/\/alfacash.blog\/#website","url":"https:\/\/alfacash.blog\/","name":"Alfacash Blog","description":"Alfacash blog is about Crypto, Bitcoin, Ethereum, DeFi","publisher":{"@id":"https:\/\/alfacash.blog\/#organization"},"alternateName":"alfacash.blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/alfacash.blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"ro-RO"},{"@type":"Organization","@id":"https:\/\/alfacash.blog\/#organization","name":"Alfacash Blog","alternateName":"alfacash.blog","url":"https:\/\/alfacash.blog\/","logo":{"@type":"ImageObject","inLanguage":"ro-RO","@id":"https:\/\/alfacash.blog\/#\/schema\/logo\/image\/","url":"https:\/\/alfacash.blog\/wp-content\/uploads\/2024\/02\/Transparent.svg","contentUrl":"https:\/\/alfacash.blog\/wp-content\/uploads\/2024\/02\/Transparent.svg","width":696,"height":696,"caption":"Alfacash Blog"},"image":{"@id":"https:\/\/alfacash.blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/alfacashstore","https:\/\/x.com\/AlfacashStore","https:\/\/t.me\/AlfacashCommunity"]},{"@type":"Person","@id":"https:\/\/alfacash.blog\/#\/schema\/person\/0c5d337f38e41e7ad754d6752d517749","name":"Isabel P\u00e9rez","image":{"@type":"ImageObject","inLanguage":"ro-RO","@id":"https:\/\/alfacash.blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/43373ef58d2993ad0d7e7ca541859e533849fec2c4ad5f7a028689d120be1af8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/43373ef58d2993ad0d7e7ca541859e533849fec2c4ad5f7a028689d120be1af8?s=96&d=mm&r=g","caption":"Isabel P\u00e9rez"},"description":"I'm a literature professional in the crypto world since 2016. It doesn't sound very compatible, but I've been learning and teaching about blockchain and cryptos for international portals since then. After hundreds of articles and diverse content about the topic, now you can find me here on Alfacash, working for more decentralization.","sameAs":["https:\/\/www.linkedin.com\/in\/isabel-prez-6b3786137\/"],"url":"https:\/\/alfacash.blog\/ro\/author\/isabel\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/alfacash.blog\/ro\/wp-json\/wp\/v2\/posts\/11687","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alfacash.blog\/ro\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alfacash.blog\/ro\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alfacash.blog\/ro\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/alfacash.blog\/ro\/wp-json\/wp\/v2\/comments?post=11687"}],"version-history":[{"count":3,"href":"https:\/\/alfacash.blog\/ro\/wp-json\/wp\/v2\/posts\/11687\/revisions"}],"predecessor-version":[{"id":11695,"href":"https:\/\/alfacash.blog\/ro\/wp-json\/wp\/v2\/posts\/11687\/revisions\/11695"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alfacash.blog\/ro\/wp-json\/wp\/v2\/media\/11696"}],"wp:attachment":[{"href":"https:\/\/alfacash.blog\/ro\/wp-json\/wp\/v2\/media?parent=11687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alfacash.blog\/ro\/wp-json\/wp\/v2\/categories?post=11687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alfacash.blog\/ro\/wp-json\/wp\/v2\/tags?post=11687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}} - The American celebrity Kim Kardashian was fined $1.26 million by SEC<\/strong>, after advertising the token EthereumMAX (EMAX) in 2021. Numerous investors<\/a> lost their money for this since EMAX wasn\u2019t a successful project. Meanwhile, a Norwegian court ruled against<\/a> Craig Wright during the popular trial with the bitcoiner Magnus Granath (Hodlonaut), who accused him of being a fraud in 2019.
- The Bitcoin hashrate (computational power with nodes and miners) increased by over 12%<\/strong> during October 2022 [Hashrate Index<\/a>]. This is good for speed and security, but bad for miners\u2019 rewards<\/a>. Despite low profitability, Bitcoin miners are still holding; but mining-specialized companies are turning<\/a> to additional activities with their machines, like high-performance computing applications.
- The Bitcoin Lightning Network (LN) suffered its first massive interruption last month<\/strong>. Several operators and wallets were unable<\/a> to create payment channels<\/a> after the LND client crashed for a big multi-signature transaction. The software was quickly updated, but the same bug appeared din nou<\/a> just entering November. The development team updated once more.
- BNB Chain also suffered a high-profile hack of over $566 million<\/strong>, but they minimized<\/a> the losses to around $89 million. In Solana<\/a>, a hacker also robbed $116 million from the DEX Mango Markets, but the team was able to recover at least $69 million. Sadly, on Ethereum, the investors of the miza<\/a> platform Freeway suffered a rug pull of over $60 million.
- Latin America is also developing more regulations for crypto this October 2022<\/strong>. Brazil, Chile, Colombia, Costa Rica, Panama, and Paraguay are preparing their own laws for it. The last country, indeed, already increased<\/a> energy fees for intensive consumption outside the productive sector \u2014which includes crypto mining<\/a>. They\u2019ll be paying even 58% more from now on.
- The UK will recognize cryptos as financial instruments with a new law<\/strong>. The proposed<\/a> Financial Services and Markets Bill is aiming to regulate and control crypto assets, stablecoins<\/a>, and their promotion (like ads). Meanwhile, Namibia permis<\/a> payments in cryptocurrency, and it\u2019s preparing a regulatory frame for Fintech. Likewise, South Africa recognized<\/a> crypto assets as \u201cfinancial products\u201d and allowed their commerce.
- Other crypto gainers in October 2022 include the DEX Osmosis (+34%),<\/strong> the GameFi blockchain Klaytn (+29%), the native token of Telegram, Toncoin (+16%), Ethereum<\/a> (+14%), BNB (+11%), Litecoin<\/a> (+9%), Aave (+6%), and Monero<\/a> (+3%). The Total Value Locked (TVL) in DeFi platforms barely decreased during the same period (-0.17%). The current leaders are MakerDAO, Lido<\/a>, Curve, Aave, and Uniswap [DeFiLlama].<\/li><\/ul>\n\n\n\n
- Traditional markets are quickly falling into a feared financial crisis<\/strong>. Switzerland’s second-largest bank, Credit Suisse<\/a>, is at the border of bankruptcy \u2014which could worsen the current global crisis by a domino effect. Besides, as indicated by the analytics firm Coalition Greenwich<\/a>, the 200 biggest investment banks are having their lowest income in ten years.