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Is Altcoin Season Back? Crypto Analysts Expect BudBlockz To Experience Massive Growth In 2023

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Altcoins are essentially a category of cryptocurrencies composed of any cryptocurrency that is not Bitcoin. The first altcoins were originally launched in 2011; today, tens of thousands of them are available.

It is clear, however, that with the recent market conditions, altcoins are back, and numerous crypto analysts have become particularly interested in the BudBlockz platform, and its token $BLUNT. They believe it has the potential to experience massive growth throughout 2023 and beyond.

Today, we will be diving into everything you need to know about the future value of the $BLUNT cryptocurrency.

BudBlockz ($BLUNT) and its Future Growth

When assessing BudBlockz, we first need to look into why it has such significant growth potential, and why it has grasped the attention of investors. 

BudBlockz is an e-commerce platform and marketplace tailored around the cannabis space. It can enable users access to fractional ownership of marijuana businesses and gain exposure to a new asset class through $BLUNT and its future NFT collection known as the Ganja Gurus NFTs.

All of this is powered by the $BLUNT cryptocurrency, an Ethereum-based token that follows the ERC-20 token standard and is consequently compatible with all current Ethereum wallets, decentralized applications (dApps), and use cases that support the token standard.

Furthermore, the token can be used within the NFT marketplace and serves as a means through which anyone can access the DEX or DeFi products within the Ethereum ecosystem.

BudBlockz ($BLUNT) Price Movements

Now that we have a better understanding as to what BudBlockz actually is, we can move on to what crypto analysts expect out of the project and cryptocurrency.

Economic specialists forecast a global cannabis market cap of over 176.5 billion USD within the next decade. What this means is that $BLUNT lets its holders access an ecosystem and an asset class that is primed for success, and this alone is a huge value proposition for the cryptocurrency.

In addition, BudBlockz as an ecosystem also features a Play-to-Earn (P2E) gaming platform known as the Bud Blockz Arcade, which features a collection of retro games inspired by NES, SNES, and Sega Genesis games.

All of this, coupled with access to fractional ownership of dispensaries, farms, and CBD manufacturers, gives $BLUNT huge room for growth. 

At the current point in time, the $BLUNT token is hovering around $0.039; however, after the demand experienced during the presale period, we expect that its price could potentially double in value, or more, after it launches.

All of these aspects surrounding BudBlockz and $BLUNT are the reason why crypto analysts are bullish for the future, as it targets a demographic and a market that has previously not been an investment opportunity until now.

Each cryptocurrency holder and investor gains access to the entire ecosystem, driving its potential use cases and value. Altcoins are back, and $BLUNT is leading the pack. 

Learn more about BudBlockz (BLUNT) at the links below:

Official Website: https://budblockz.io/ 

Presale Registration:: https://app.budblockz.io/sign-up 

BudBlockz Community Links: https://linktr.ee/budblockz

Dogecoin’s Bull Run Shows 115% Price Hike Last Week: October’s Top Performer

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In the last few days, Dogecoin’s (DOGE) price has dramatically increased. CoinMarketCap (CMC) data show that the price of DOGE has risen by almost 115% over the last week. Moreover, according to CMC data, the well-known memecoin is currently trading at $0.129, up 7% in the previous 24 hours. The preferred cryptocurrency of billionaire CEO Elon Musk surpassed the market leaders, including Bitcoin (BTC) and Ethereum (ETH), which have increased by 6.5% and 19%, respectively, over the last week.

By flipping two of the alleged “Ethereum killers,” Solana (SOL) and Cardano (ADA), during this bullish run, DOGE rose to the eighth-largest digital currency by market cap. As of this writing, Dogecoin’s market cap is approximately $17 billion, based on data from CMC.

Furthermore, DOGE outperformed all 150 digital assets in the CoinDesk Market Index in October (CMI). In contrast to the CMI as a whole, which increased by 7% during the month, the price of DOGE increased by 101%. The largest cryptocurrency by market value, bitcoin (BTC), rose 5.5% on the month, while ether (ETH), which came in second, increased by 18%.

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Dogecoin: Who Let The Doge Out? Musk Apparently!

Digital asset analysts ascribed the significant increase in DOGE to Musk’s shocking $44 billion acquisition of Twitter, ostensibly because they believed the transaction might one day add value or utility to the Dogecoin blockchain and its corresponding cryptocurrency. Musk said, “Call me the Dogefather,” in a May 2021 performance on NBC’s “Saturday Night Live.” And in January 2021, Musk posted a picture of himself on Twitter cradling a Shiba Inu puppy, the type of dog that served as the inspiration for dogecoin. Musk once proposed charging 0.1 DOGE for every tweet, possibly in jest, possibly not.

Some of the most prominent Dogecoin supporters and investors think that the well-known memecoin may soon be utilised for payments on the microblogging platform as a result of Musk’s purchase of Twitter.

While Matt Wallace and Glauber Contessoto, two billionaire Dogecoin users, are ardent supporters of Elon Musk and the canine-themed coin, Algorand’s chief technical officer John Woods disagrees.

Woods took to Twitter to state that it “would be a shame” if Dogecoin were to be utilized on Twitter while “projects like Cardano and Algorand” exist.

Here’s Why These Terra Case Witnesses Are About To Face Prison-Time

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Kim Seo-Joon, a significant witness called to testify in the Terra parliamentary inquiry, did not appear, citing “extreme stress,” according to the local South Korean news outlet Korea Economic Daily. Seo-Joon is the CEO of the venture capital firm Hashed and a pioneering investor in Terra (LUNC, formerly LUNA). Seo-Joon stated “extreme stress” as a justification for missing the investigation.

According to the news report, Seo-Joon is one of the six individuals chosen to take part in the Terra collapse investigation by the South Korean parliament. The South Korean government is attempting to comprehend what transpired to cause the LUNA and UST currencies to lose $40 billion.

To explain his absence, Seo-Joon wrote a letter to the national assembly. He claimed that he had a significant mental collapse after the sudden demise of LUNC (formerly LUNA) and the de-pegging of its related algorithmic stablecoin TerraClassicUSD (USTC). He declared,

“I have been suffering from anxiety disorder and panic disorder due to extreme mental stress.”

Seo-Joon also sent a professional evaluation and a medical certificate confirming that he had been hospitalized since July 29 and was undergoing therapy from a psychiatrist along with his letter. Seo-Joon is “in desperate need of emotional stability at this moment,” in the professional’s opinion, and it was claimed that both medicine and counseling treatment made his anxiousness worse.

Seo-Joon claimed that Hashed had lost $3.6 billion from its peak value in late April in an interview with Bloomberg in August. The company held 30 million LUNC (at the time, LUNA) tokens.

Fate Of The Other Witness In Terra Case

Seo-Joon is not the first witness to cancel on the investigation. On October 6, the parliamentary session was also missed by Lee Jung-hoon, the chairman of the South Korean exchange Bithumb. According to Jung-hoon, his panic issue prevented him from attending the investigation. And if that weren’t enough, Jung-hoon is currently facing a maximum sentence of 8 years in jail for a $70 million scam.

Other witnesses who have provided testimony throughout the Terra investigation include Kang Jong-hyun, a significant Bithumb shareholder, CEO of Dunamu, the organisation that runs UpBit, South Korea’s largest cryptocurrency exchange, Lee Seok-woo, Chai Holdco Director Shin Hyun-sung, and Terraform Labs Co-Founder Daniel Shin.

Do Kwon, the chief of Terra, is not on the assembly’s list of people to question. However, international law enforcement agencies keep looking for the now-famous creator.

Tether’s CTO bears good news; Asset’s US Treasury bills up by 58.1%

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Tether [USDT], the biggest stablecoin on the market, has recently made headlines for a number of different reasons. Sadly, not all of it was done for the right reasons. The former auditor of the company received criticism for “improper professional conduct.” In the meantime, the stablecoin issuer was urged to submit paperwork to the court in a proceeding. The network disclosed that it has reduced its holding of commercial paper to less than $50 million in the midst of all of this.

Tether’s CTO Paolo Ardoino recently mentioned on Twitter that the network increased its holding of U.S. Treasuries to 58.1% on September 30. Remember that this was an increase from 43.5% as of June 30, 2022.

Simply said, commercial papers are unsecured, short-term financial instruments that are typically issued by corporations. Commercial papers are “less stable” than US treasuries.

The company’s commercial paper value was $20.1 billion in May. By the end of June, this had further declined to $8.5 billion.

Tether to nullify its commercial paper holdings?

The company announced its intention to reduce its exposure to commercial paper by $200 million by the end of the month back in August. The company also disclosed that this would reach zero before the year is over.

Earlier, Ardoino said the following in relation to the same,

“The utility of Tether continues to be supported by the transparency of its reserves and has been a leading source of stability allowing us to build a tool for the global economy. Our commitment to transparency and the community is a long-standing pillar in the underlying ethos of the company and aligns with our responsibility as a market leader.”

In light of this, Tether has been preparing to submit financial records to the New York Court, including balance sheets, general ledgers, income statements, and cash-flow statements.

Tether: Will Roche Freedman be terminated from class-action lawsuit?

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Following a demand from Kyle Roche to be removed as counsel in the case, Tether (USDT)-issuing company Tether wants law firm Roche Freedman “terminated” as counsel from the Bitfinex and Tether class-action lawsuit.

Tether and Bitfinex’s legal team asked for Roche’s legal team to be completely removed from the case and certified that they had returned or destroyed all defendant-issued documents and had not shared them with any third party, including Ava Labs, in a court order request submitted by Elliot Greenfield of Debevoise & Plimpton LLP on Wednesday.

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The request was made soon after Roche filed a notice of motion to withdraw from the Tether class action lawsuit due to continued fallout from a recent CryptoLeaks exposé that claimed the American attorney had a covert agreement to “damage” Ava Labs rivals in exchange for AVAX tokens and Ava Labs ownership.

Greenfield expressed “great worry” that Kyle Roche “may be abusing the discovery process” and “misusing material” he obtains through litigation after Roche’s words appeared on the CryptoLeaks website:

“He states that he is Ava Lab’s ‘crypto expert’ because he ‘sue[s] half the companies in the space’ and ’know[s] where this market is going’ because he has ‘seen the insides of every single crypto company.’”

Tether’s legal representative’s high claims

Greenfield emphasized that Roche Freedman LLP has issued a number of document requests seeking information that has no obvious link to the claims and defenses in this complaint and said that the issues are very pertinent to the case.

The attorney also emphasised the need for the documents to be suppressed, saying that they contain information that, if made public, would endanger the privacy and security of the defendants and their clients as well as confidential and competitively sensitive information about the defendants’ businesses.

The removal of Kyle Roche does little if anything to resolve the serious issues about the possible misuse of discovery, according to Greenfield, despite the fact that Roche has filed motions to withdraw himself from the case and others.

He further added,

“Even if he is no longer counsel of record, he would still have access to discovery materials, would retain the ability to direct the conduct of other lawyers at his firm, and would profit from any potential recovery in this lawsuit.”

Greenfield continued, saying the “removal would not prejudice Plaintiffs” because they would still be represented by “two other large and experienced firms,” including Schneider Wallace Cottrell Konecky LLP and Selendy Gay Elsberg PLLC.

Tether and Bitfinex were accused of manipulating the cryptocurrency market by releasing unbacked USDT “in an effort to communicate to the market that there was enormous, organic demand for crypto commodities,” according to the class-action lawsuit filed in 2019.

Roche has also recently dropped out of the litigation against Binance, Solana, Tron, BitMEX, Nexo, and Dfinity.

Tether corrects inaccurate facts on WSJ

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The Wall Street Journal released a report at the tail end of last week that expressed concern about Tether’s audit procedure. The Securities and Exchange Commission’s previous head of internet enforcement, John Reed Stark, was mentioned in the article as saying,

“Tether needs an audit that’s akin to a corporate colonoscopy, that tells investors everything about what’s in their reserves.”

The stablecoin issuer clarified that it plans to conduct audits in its most recent blog post in response to the same concern. But it continued by characterizing the WSJ piece as a “series of unsubstantiated conclusions.” It further stated,

“The article seeks to discredit the work that Tether has put into transparent and honest communication to the public.”

The stablecoin issuer had changed accounting firms back in July, moving from a small Cayman Islands-based business to BDO Italia, the Italian affiliate of the larger BDO network. However, the trustworthy and impartial Top 5 audit firm was referred to as a “Tether accounting firm” by the WSJ. The token team responded by claiming that the same had been “erroneously written by the WSJ.”

It added,

“BDO will continue to have unrestricted access to any relevant  information to perform their work and Tether will continue to share its attestations, despite continuous attempts by the media to disparage its reputation and that of top-ranking firms like BDO that are working with digital asset companies.” 

The stablecoin issuer also clarified in the statement that Treasury Bills have been the “premier safe asset” for many years. In addition, it stated, “to assume that our business is unprofitable is false,” and went on to refute several inaccuracies in the WSJ article.

The announcement from the stablecoin issuer concluded by emphasizing,

“Tether’s disclosures have been the most honest and transparent in the market – everyone knows that we have not had an audit and they know we are working towards one.”

Tether remains unaffected

According to Glassnode data, the volume of deposits to exchanges fell on Wednesday to a fresh 3-year low. The same suggests that people are either HODLing other assets with their stablecoin holdings or having their Tether stashes zipped. Overall, it can be concluded that market players aren’t currently on a Tether dumping rampage.

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Source: Twitter

Furthermore, despite the skeptics, the token’s team claims to be dedicated to continuing to be one of the market’s top stablecoin and to keep demonstrating transparency.

Has Shiba Inu been reaching for the stars? Here’s what it means

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Shiba Inu has developed into an ecosystem that goes much beyond simple trade. The area of cryptocurrency development and adoption took centre stage. This year, the meme coin SHIB attracted a lot of attention. The network also increased its utilities, albeit initially it was due to its increasing prices.

As reported by TWJ earlier, the Singapore-based MEXC exchange, in partnership with Bone ShibaSwap (BONE), has announced a prize fund of 5,555 BONE to qualified users that participate in the “Sign up, Deposit & Trade” event , as posted on the official SHIB Twitter handle.

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Source: Twitter

MEXC Global, one of the first exchanges to offer the Shiba Inu ecosystem governance token, added BONE support in January of this year. By introducing a USDC pair, the leading cryptocurrency exchange recently increased support for SHIB. One of the first exchanges to add the Dogecoin-killer early was MEXC, which made the announcement that the canine token may now be traded on its platform in July 2021.

Less than 65,000 BONE are still available for farming, yet interest in the asset is still growing. When 230 million tokens were produced, the Shiba Inu community overwhelmingly decided to stop all BONE farming. This decision was made in June. Shibarium validators were supposed to receive the remaining 20 million tokens. There are still just 250 million BONE tokens available.

Big chunk Shiba Inu gets burned

According to Shibburn, a platform that tracks transactions that lower the amount of Shiba Inu dog tokens currently in circulation, the SHIB army has succeeded in burning more than a quarter of a billion SHIB during the past 24 hours.

Shiba tokens totaling 276,280,888 were transmitted to dead wallets in 22 transactions throughout the course of the previous day and night. A total of 160,549,026 SHIB worth of meme coins were also burnt in a single transfer by an unknown wallet, coming very close to the same sum.

The SHIB army burns Shiba Inu tokens every day in an effort to lower the current supply of tokens that are available on the market. Burning refers to moving tokens into “inferno” wallets, where they are effectively frozen and removed from circulation, increasing the scarcity of a coin. The SHIB army destroys its coinage with the anticipation that when they are in short supply, their value would increase.

Will Ethereum succumb to the bears? Here’s what might happen

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For a while now, the Ethereum community has been eagerly awaiting the Merge. However, the community might be experiencing yet another development as a result of this network-wide upgrade. The majority of the crypto community did not appear to take this well. Although it is unclear how the ETH miner-led hard fork will fare, a number of platforms have shown their support. Amidst all this havoc, ETH seems a little inclined towards the bear market.

In a recent tweet, Scott Redler of T3 Trading Group expressed concern that Ethereum, the second-largest cryptocurrency, might be headed for a decline below $1,000.

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Source: Twitter

According to Redler, if the S&P 500 index tests its June lows once more, a negative scenario will take place.

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Source: Tradingview.com

The second-largest cryptocurrency reached its all-time high on the Binance market on August 14 at $2,031. The increase in popularity was related to the increased anticipation for the impending merge upgrade. The Bitcoin rival, however, immediately saw almost all of its recent gains reversed as Ethereum’s stunning climb came to a grinding halt. The second-largest cryptocurrency, according to Redler, allegedly became negative after it broke the rising channel near the $1,815 mark.

A bear flag formation developed on the chart and resolved lower after bulls missed an additional rally opportunity earlier this week. Additionally, Redler tweeted that early in August, the price of Ethereum might reach $2,100. He correctly foresaw that the price of the second-largest cryptocurrency will go below the $1,400 mark in early June. After falling to an intraday low of $1,475, the price of Ethereum is currently trading at $1,490 on the Binance platform as of the time of publication. Despite the fact that the merging update is anticipated to happen in just a few weeks, the cryptocurrency is still under significant bearish pressure.

Mark Cuban is bullish on Ethereum

With signs of ETH seeming bearish, Mark Cuban says otherwise.

In a recent interview with Fortune, “Shark Tank” star Mark Cuban expressed his continued “super bullishness” on Ethereum, the second-largest cryptocurrency by market value.

The merging update would significantly reduce Ethereum’s energy consumption by a factor of 1,000 and is anticipated to happen in less than a month. This, according to Cuban, is a “significant” factor that might support the bull argument for Ethereum. Nevertheless, the wealthy man held back from offering any specific price forecasts since he is unsure of how the cryptocurrency’s price will respond in the near future to the merging update. Cuban thinks there will be enough applications to propel the second-largest network’s growth.

At the same time, Cardano, one of Ethereum’s primary rivals, continues to inspire Cuban great scepticism. Despite the fact that smart contracts have been available for more than a year, he recently stated that Dogecoin was more beneficial than Cardano. 

Cardano takes the ‘glass half full’ route to the Vasil upgrade

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Recent testnet problems with Cardano were shaking social media. In the midst of the chaos, 36% of stake pool operators (SPOs) have updated their nodes to version 1.35.3, which was released last week, according to statistics given by PoolTool.

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Source: PoolTool

The next Vasil hard fork upgrade will use the thoroughly tested version. Before the much anticipated update occurs, 75% of SPOs must upgrade their nodes.

Additionally, to guarantee a significant amount of liquidity, Input Output must onboard at least 25 cryptocurrency exchanges prior to the mainnet launch. Before Vasil is implemented, the decentralised development community for Cardano must come together in support of it. Recent community conversations have been driven by worries regarding Cardano’s testnet as a result of a critical Twitter thread sent by an ecosystem developer.

Charles Hoskinson of Input Output assured investors that there were no quality problems with the Vasil upgrade during a recent live stream. Most recently, Hoskinson expressed the opinion that conversations about intricate technological issues should be avoided on social media. Technical issues have caused the Vasil upgrade to be repeatedly delayed from its first planned launch on mainnet in early June. It is anticipated that the ambitious upgrade will significantly improve Cardano’s scaling capabilities.

Cardano Alonzo update

Smart contracts are now possible thanks to Cardano’s Alonzo hard fork, which was introduced in September.

The Alonzo upgrade, which brought smart contracts technology to the network, has been finished on the third-largest blockchain in the world. The use of the technology has made it easier for Cardano (ADA) to create a variety of financial applications. By employing predictable transaction costs, the blockchain has been proactively addressing the key problems associated with blockchain competition.

The majority of blockchain developers who have worked on the technology have said that it changed the game at the time it was first presented. From that point forward, developers working with a centralized application running on dedicated servers could create decentralized apps on the blockchain without having to compromise on security. However, at the time of writing, Cardano (ADA) seems to have underperformed due to the frivolous testnet confusion and is currently priced at $0.460802.

Is Ethereum losing support for the PoW hard fork?

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For a number of reasons, the Ethereum [ETH] network has been the talk of the crypto community. The Merge is unquestionably one of them, but there is also talk about the possibility of a hard fork. The Merge would make miners’ significance or importance to the Ethereum network irrelevant. Chandler Guo, a Chinese cryptocurrency miner, made the decision to defend these miners because this would disturb the livelihood of many people. After the Merge, Guo has been strongly drawn to the concept of forking the Ethereum network. While some people continue to doubt its occurrence, others have expressed optimism. The biggest ETH mining pool, however, disagreed with Guo’s proposal.

The network’s PoW mining phase has come to an end, according to a blog post by Ethermine, the biggest Ethereum mining pool. According to the site, a “dedicated mining pool for any of the planned PoW fork” will not be available.

Platforms such as Poloniex, BitMEX, and others have endorsed the PoW hard fork. However, the vast majority of them have avoided doing so. For those planning to adopt a PoW chain, several of them have been promoting the usage of Ethereum Classic (ETC).

Additionally, Etheremine advised its miners to join the Ethereum Classic pool. Even better, the company provided a 0% fee on its mining pools for Ravencoin, Ergo, and Beam in September.

It appears that smaller mining pools were less likely to fork the network than larger ones. An executive from the Canadian mining pool company Flexpool had previously stated,

“It’s like a typewriter company. No one is buying typewriters anymore, so you have to shift into other businesses using the capital you made in typewriters.”

Ethereum miners’ Guide

The platform made note of how, after the Merge, mining Ether using GPUs or ASICs will be impossible. After the network’s PoW phase is through, the mining pool will switch to withdraw-only mode, miners were informed.

Ethermine went into more detail on what miners should do, and said,

“In order to receive a final payout of your unpaid balance, it will be possible to trigger a manual payout on your individual Dashboard page. It is possible to request a manual payout if your unpaid balance exceeds 0.005 ETH. For manual payouts, the transaction fee will be deducted from your unpaid balance.”

At the time of writing, Ethereum (ETH) was priced at $1738.08 with a daily drop of 0.24%.