This Week in Crypto
January 13, 2023
As the second week of 2023 is ending, many developments have added to an ongoing drama from 2022, or have made people look forward to the rest of 2023. In this week’s episode of “This Week in Crypto”, we look at some of the top news stories that made headlines this week, along with what you should look forward to.
Polygon Blockchain Hardfork Set for January 17th
Polygon (MATIC) made headlines in late 2022 as it achieved various partnerships focusing on the Metaverse and XR. As Polygon prepares to onboard more users following its partnerships, it was tasked with resolving the previous issue of an extreme spike in gas fees during high network demands. For this reason, Polygon will go through a hardfork around January 17th. Upon the successful completion of the Polygon Hardfork, the block generation time will be reduced from the previous 128 seconds to 32 seconds.
Bitcoin Records Biggest One-Day Return in Two Months
Bitcoin (BTC) has witnessed its biggest one-day growth in over two months, growing 5% to go beyond the $19,000 price level. Following the report of the US CPI that came in at 6.5% — lower than the expectations and a sign of slowing inflation — the Bitcoin bulls rallied in the market. Currently, the price did fall slightly and is sitting at the $18,800 level.
With this fresh breath in positive price volatility, there has been a new interest in Bitcoin. While many traders are not looking to particularly dive into purchasing BTC at this exact moment, online analytics tools saw an increased search volume of people looking for ways to invest gradually into BTC, especially with renewed interest in BTC mining.
This is a perfect opportunity for all current and future M2 Pro miners to get involved in BTC mining with their M2 Pro! Simply download the DataDash app, bond MXC, and start mining BTC with virtually zero operational and electricity costs. If you do not have an M2 Pro miner yet, you can buy one by clicking here.
Layoffs Continue in Web3
As many institutions in Web3 are focusing on recouping losses and lowering expenses, the next round of layoffs has begun. DCG’s crypto broker Genesis has reduced 30% of its workforce to reduce expenditures to face its staggering debt of nearly $3 billion dollars. Crypto.com has announced plans to cut 20% of its team, while Blockchain.com had to let go of 28% of its employees. All of this seems to be a method for these companies to minimize the future impact on their core operations since the collapse of FTX.
However, there are some players within the Web3 ecosystem that are hiring! Binance CEO Changpeng Zhao has announced that Binance is aiming to rapidly expand its team in 2023. MXC CEO Xin Hu also announced that MXC Foundation also looks forward to welcoming a wide array of top talents within Web3.
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Do Not Miss This: What To Look Forward To
As mentioned during the MXChats yesterday, there are many things that MXC supporters can look forward to in 2023. Ranging from DOT mining to new products that pose new ways to utilize MXC, the milestones set for 2023 are bound to bring increased vigor and usage of both the MXC network and the token. Soon, one of the major milestones of 2023 will be revealed to the public. You definitely don’t want to miss out on this! Sign up for our newsletter to be the first in the know.
