The biggest news in the cryptoverse for Oct. 31 includes Vitalik saying that crypto needs to mature before mainstream adoption, Hoskinson predicting that crypto adoption will surge as national currencies fail, a veteran investor predicting that the DOGE bear market is over, and Argo Blockchain on verge of shutting down operations after failing to secure $27 million in funding.
CryptoSlate Top Stories
Vitalik Buterin believes crypto still ‘needs time to mature’ before mainstream adoption
Vitalik Buterin while responding to Sam Bankman-Fried’s proposal on DeFi regulation, argued that regulators should leave crypto to act freely, but put measures in place to limit the speed of its mainstream adoption.
To improve DeFi regulation, Vitalik recommends that a limit should be placed on leverage while requiring full transparency of the auditing process.
Hoskinson predicts more crypto adoption as sovereign currencies fail
As several countries battle with skyrocketing inflation, Cardano founder Charles Hoskinson predicts that national currency failures may lead to increased adoption of cryptocurrencies.
While many countries in South America have reportedly lost their currency to double-digit inflation, crypto adoption has surged by over 40% in the last 12 months.
Peter Brandt believes DOGE bear market is over but bulls yet to gain control
Dogecoin (DOGE) has surged about 97%, reaching a new local high of $0.1388 over the last seven days. As bullish sentiments trail the leading Memecoin, veteran future and FX trader Peter Brandt said that although DOGE has broken the bear market channel, it is yet to begin the bull market cycle.
Notwithstanding, crypto trader Rekt Capital believes that the DOGE bull run, could spread the trend to other altcoins.
Aptos-based DeFi protocol Arco offers refund option after IDO issues
Arco protocol’s IDO sale which ran on Oct. 29 failed due to network congestion and a delay in the $ARC token claim process.
Consequently, many of the protocol’s partners including Wormhole, Celer Network, and Huobi moved to cancel their partnership deal.