Why Kevin O'Leary, Jordan Belfort's Welcome Slate - Cardano (ADA/USD), Cosmos (ATOM/USD)

Why Kevin O’Leary, Jordan Belfort’s Welcome Slate – Cardano (ADA/USD), Cosmos (ATOM/USD)

Perhaps a really bear market is a time to grow, even if you’re not a billionaire adding to your holdings.

History was made on September 15 when it was Ethereum ETH / USD Mainnet merged with the Beacon Chain to exist as a single chain.

Most importantly, as the Ethereum Foundation stated in its announcement: “The Ethereum Proof of Stake upgrade is finally here!

The Proof of Stake (POS) consensus mechanism will ideally address concerns about costs, speed, capacity, and power consumption on the Ethereum network.

in the same day, Cardano ADA / dollars It announced the most ambitious upgrade yet.

The wave of crypto developments: In the announcement from the Cardano Input-Output Hong Kong (IOHK) developers, Cardano said in a statement: “The Vasil upgrade greatly improves and enhances Cardano’s capabilities. New Plutus v2 features and improvements will enable DApp developers to create new and exciting experiences, while opening pipelines Deployment has the potential to increase throughput and network capacity.”

The Cardano mainnet was originally scheduled for June 29th, but the upgrade was delayed due to bugs during testing.

In the meantime, Solana Sol / US Dollar Ready to own energy efficiency. Cryptography recently announced a bunch of improvements, and Solana claims it can power the entire network for one hour with the same power used in a single Bitcoin transaction.

Cosmos Atom / Dollars It takes place at the Cosmoverse, which is being called “the biggest Cosmos event of the year”.

Cosmos representatives are in the middle of three days in Medellin, Colombia, attending presentations aimed at helping projects in the Cosmos ecosystem make the best use of what the Cosmos Hub has to offer. Cosmos recently joked in an interview that it will offer improved inter-chain security that can be used by projects in the ecosystem.

The EOS . network EOS / USD Foundation (ENF) announce It integrates EOS with Telos, Wax, and the UX Network, “pooling resources into a coalition of blockchain with a common database.”

“The UX Network is a blockchain for adults — ready to scale to enterprise use cases and delivers the security, speed and price consistency of transactions needed to run a business and serve Web3 customers,” he said. Darren SwardsCEO, UX Network. “The launch of the Antelope protocol is about community routing its own vessel without the central control of Block.One, and it is the creation of protocols that support the vision and use cases we have been working on since 2017.”

Wolves and sharks demand clearer coding rules: Jordan BelfortThe spokesperson, entrepreneur, and investor known as the “wolf of Wall Street” said in a recent interview that he was correct in his 2017 assumptions about Bitcoin, but he reversed his position that Bitcoin will become worthless.

“I just said it was a scam because it sounded like that because of all earmarks of it. What turned me on, was slowly but surely, when (Bitcoin) crashed and went down to $3,000, it was still a multibillion dollar market.”

Balfour added that he saw the threat of banning bitcoin “largely gone.”

“They’ll regulate, they’ll tax, but I think that’s a good thing,” Balfour said.

Balfour has advocated for years that a clear regulatory structure in the United States is necessary to stabilize the cryptocurrency market and bring in large institutional funds, which tend to turn away when there is uncertainty.

Fortunately, a clear organizational structure is on its way. In mid-August, the White House followed up on the March executive order with “The first ever comprehensive framework for the responsible development of digital assets. ”

The framework takes advantage of existing regulators, such as the Securities and Exchange Commission and the Commodity Futures Trading Commission, so the cryptocurrency world will be dealing with familiar regulators.

The Securities and Exchange Commission (SEC) recently announced plans to “add the Office of Crypto Asset and the Office of Industrial Applications and Services to the Department of Corporate Finance’s Disclosure Review Program (DRP) division.”

Kevin O’LearyFantastic, is a Canadian businessman, entrepreneur and television personality known for his “Shark Tank” work, he said in an interview on Circle USDC / USD converge 22 San Francisco that Bitcoin will struggle to regain the $22,000 level without regulatory clarity.

O’Leary, like Belfort, believes crypto will need clearer regulation to earn wealth, pension funds and eventually reach $300,000.

Bitcoin reached $22,000 on September 22nd, although this is still a bit below the all-time high of $69,000 in November 2021.

O’Leary is a staunch defender of Web3 technology, a spokesperson for the FTX exchange and an investor in Circle, the issuer of the USDC stablecoin. O’Leary also announced plans to launch a Web 3.0-focused investment fund called Cipher.

President of the Supreme Education Council Gary Gensler It made Ethereum supporters unhappy, saying in a statement on September 15 that the Ethereum merger puts the network in the category of backed cryptocurrencies, which are very likely to be securities that should be regulated by the SEC.

The future of encryption: Belfort and O’Leary may be right about the role of crypto regulation in stabilizing markets, but it won’t be an easy process.

Is there relief in sight?

According to Nickel Digital Asset Management, based on a small survey of big money investors, there is a new sense of positivity that we are nearing the end of this bear market.

Recently, Nickel Digital conducted a survey of 200 institutional investors around the world that collectively manage $2.2 trillion in assets. The study showed that only 9% of investors felt a bearish crypto market, but 58% responded that it would be over within six months at the latest.

This sounds like the kind of good news we can deal with right now — positive, but not overly sunny. While 67% of respondents feel the bear market is over or over, about 27% expect the bear market to last for another year and 7% expect it to last longer.

Anatoly KrachylovThe CEO of Nickel Digital added, “Investors acknowledge that the ongoing crypto winter has some way to go, but there is also an acknowledgment that, if history is any guide, once the winter is over, these high beta markets will see a recovery.” strong.”

The last word: In a bear market, the future of Web3 may seem distant, but in fact the foundation is being laid at the technical and organizational levels.

The Ethereum consolidation appears to have spurred alternative networks to hone their own offerings, showing that these projects are not sleeping through the crypto winter, but are preparing for a brighter spring.

Innovation is one of the most valuable human resources. In the last bear market, NFTs became mainly popular. It’s a matter of constant speculation about what’s going to happen next, but it’s definitely being built as we speak.

On December 7, Benzinga will hold its first Future of Crypto live conference in New York City at Pier 60.

Belfort and O’Leary are both keynote speakers at the conference, as is Anthony ScaramucciThe panel is packed with some of the industry’s keynote speakers and projects, including representatives from Cosmos, Cardano, and Solana, all of whom are featured in this article.

Learn more about the next generation of finance, art, games, social media, and beyond. Join our crypto-editing team and some of the biggest leaders in the industry at our summit in December.

Cover photo based on photo from before Gerd Altman from Pixabay.

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