Dubai Crypto & Coffee at 8 ☕ 🚨 Dubai: 19th Jan 🚨 🔻 Crypto market down 🔺Ethereum Gas fees Up🔺 🥶ConsenSys slashes headcount by 11% 💥 Two events, Bitcoin & Ethereum by Blockchain DXB in Feb 2023
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19th Jan 🔻 Crypto market down 🔺Ethereum Gas fees Up🔺 🥶ConsenSys slashes headcount by 11%

🚨 Crypto Winter Joseph Lubin, CEO & founder of ConsenSys mentioned via Twitter & official blog ‘ConsenSys Focuses Its Strategy To Ensure Future Growth’ that the company would be cutting 96 of its staff to focus its resources on its core businesses. He said “poorly behaved” centralized finance (CeFi) actors have cast a “broad pall on our ecosystem that we will all need to work through.” Blog here https://lnkd.in/dRa6MMSC He has also highlighted, support for impacted employees, Focusing on the business & Where they are going

🌞 No Crypto Winter for Binance as it enhances Local Presence & Compliance in Poland. Official Blog https://lnkd.in/dtAJNEZt The main takeaways are

• Binance’s entity in Poland fully complies with local regulatory standards for virtual asset service providers.
• Polish residents registered with Binance are currently being asked to sign new Terms and Conditions with Binance Poland sp. z o.o.
• The company has announced plans to ramp up local talent acquisition, events, and educational initiatives in Poland.

📛 Ethereum Gas fees Up 🔺 An article from Bitcoin.com states that as the value of Ethereum (ETH) has risen greatly over the last 14 days, the cost of sending ETH has also increased. At the time of the article, ETH was trading at $1,542 per unit and reached a high of $1,606 per unit. The article also states that the cost of layer-two (L2) transactions, such as Arbitrum and Optimism transactions, have risen as well. This may be caused by increased demand and usage on the Ethereum network which can lead to higher transaction fees. Article here https://lnkd.in/dPr6fvmN

🟠 NEWSBTC states that Arbitrum and Optimism raked millions in profit despite the extended bear market that hammered decentralized finance (DeFi) activities and Ethereum (ETH) valuation in 2022. And as per Per on-chain data shared on Twitter, Arbitrum, and Optimism, general-purpose Ethereum layer-2 platforms, made 2,906 ETH and 2,086ETH, respectively. In USD terms, it translates to around $4.6 million and $3.3 million for each protocol. Article here https://lnkd.in/d2DPvPwp & tweet here https://lnkd.in/dVu-XvfQ

🔴 Technical info ✅ Glassnode has shared 10 indicators for tracking a bear market recovery. Article here https://lnkd.in/dmgkAJRt

✅ CoinShares Digital Asset Fund Flows Weekly Report via Medium states there was a 13% rise in AuM since October 2021 but only minor inflows of US$9.2m

• Minor inflows totalling US$9.2m
• Trading volumes remained low at US$866m
• Ethereum broke its 8-week spell of outflows with an inflow of US$5.6m

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💥 Two UAE news (See slides) ⚡ Bitcoin Beginners Guide Session by Blockchain DXB ⚡ Ethereum Beginners Guide by Blockchain DXB

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