Mexican Women Entrepreneurs Bet on the Metaverse for the Business Future

The association seeks to create the first approach for female executives in the Metaverse. Through conferences and workshops, attendees will immerse themselves in these new technologies that will represent areas of opportunity to grow.

The largest conglomerate of executive women in Mexico has decided to bet on the metaverse as a means of achieving greater inclusion and representation of women in the business world.

Various businesswomen, business directors, and entrepreneurs gathered in Mexico with a novel bet; use the advantages and opportunities of the metaverse to achieve greater recognition and inclusion of women in business.

It is the Mexican Association of Women Heads of Companies (AMMJE), which seeks to create the first approach for executive women in the Metaverse. Such a bet would be the first of its kind in Mexico, and even in Latin America.

The event would be called the first Summit 2022 Metaversa, Unlimited Universe, focused on making attendees aware of the relevance of new technologies “so that they understand the scope of the Metaverse and have the most appropriate tools to capitalize on them for the benefit of their companies and businesses.”

The Bet on another Type of Metaverse

Companies are not the only ones interested in the metaverse. Many multilateral institutions and organizations have expressed to a greater or lesser degree an interest in the metaverse. This has led to a curious association between the metaverse and economic development. However, Mexico is still in its initial phase regarding the segmentation of events in this virtual world.

Most of the metaverse in Mexico has focused on entertainment and gaming; leaving little space for social gatherings and associations. In this new bet, the metaverse is conceived as a space where social and economic activities are carried out, just like the real world.

When presenting the 2002 Metaversa Business Summit, Unlimited Universe, the coordinator of the event, Adriana Castro, explained that, “through conferences and workshops, attendees will immerse themselves in these new technologies that will represent enormous areas of opportunity to grow, expand their operations and do business.”

In Search of More Representativeness

The president of AMMJE, Sonia Garza González, declared to the local media “vertigo politico” that this association is the most representative of Mexico; with 56 years of existence and with more than 3 thousand members, in 30 key cities of various states of the Republic, distributed in 5 regions that cover more than 60% of the national territory.

“AMMJE seeks to be an advocacy model that helps combat economic inequality in the country, promoting progressive and future thinking, as well as a narrative of opportunities. Thus; we call for a massive transformation that integrates a greater number of women, taking advantage of information and technology. Like any exponential organization and according to the times we are living in”.

For her part, Mónica Jiménez, Chief Metaverse Officer at the event, stated that, “we are convinced that collaborative work, training, inventiveness and disruptive vision generate new ways to reconnect businesses; reinvent industries and have a more productive, innovative and safe Mexico.”

The Business Summit will be held from November 7 to 10 in Ciudad Obregón and Hermosillo, Sonora, two cities that not only have a great history and tourist attractions but – above all – are important poles of economic and cultural development.

By Audy Castaneda

The Inflation Comments from Jerome Powell Cause the Price of Bitcoin to Drop

Following the speech by Powell, the price of most cryptocurrencies dropped, with FLOW losing 11% and ETH falling by 8.5% over 24 hours. Besides, the value of Bitcoin declined by nearly 9% from the highs on the previous day, reaching a low of USD 19,920.

Traders recently reacted to aggressive comments from US Federal Reserve (Fed) Chairman Jerome Powell, causing Bitcoin (BTC) and other cryptocurrencies to drop.

The price of the pioneering cryptocurrency fell by 6.3% to USD 20,251.34, moving back to its weekly low of the previous days.

The Overall Crypto Market Suffers a Sharp Drop

The Federal Open Market Committee will meet in September to discuss whether it will raise rates by 50 or 75 basis points. According to Jerome Powell, the decision will depend on the incoming data and the evolving outlook.

The Fed chairman said that the successful control of inflation could slow economic growth for an extended period. He warned that interest rates would have to remain at those levels for a long time to achieve that.

The official predicted that consumers and companies would suffer the consequences while labor market conditions deteriorated. He added that bad debts would worsen if prices do not recover their stability.

The value of most crypto assets dropped after Powell gave his speech, with Flow (FLOW) losing 11% over 24 hours. The market capitalization of Ether (ETH), the second-largest cryptocurrency following Bitcoin, fell by 8.5%.

Bitcoin Might Face a Brutal September amid an Uncontrollable Crypto Space

While the price of BTC fell below USD 20,000, the value of ETH dropped below USD 1,500. The overall capitalization of the crypto market fell below USD 1 trillion, losing over 6.5%, due to a recent speech by the Fed Chairman.

Powell said that central banks would use their tools to curb inflation at its highest point in 40 years. He added that he expected the rise in interest rates to continue for a long time.

After his speech, the value of the S&P 500 dropped by an average of 500 points, the worst since mid-June. Besides, the price of Bitcoin fell by nearly 9% from the highs on the previous day, reaching a low of USD 19,920. Growing bearish sentiments are underway as September approaches, representing new lows for various assets.

September has been the most bearish month since 2013, except for 2015 and 2016. According to analysts, investors withdraw from their positions after returning from their summer holidays in September. However, the trend offers a little more diversification than in previous years.

Bitcoin is trading at around USD 20,244 and has accumulated a 5.6% loss over the last 24 hours. While its daily trading volume is above USD 391.21 billion, its market capitalization is about 387.35 billion, according to CoinGecko.

By Alexander Salazar

From the ‘dotcom’ Bubble to the Cryptocurrency Bubble: “Most will not be viable”

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The experts invited to the Mundo Crypto event warn of the dangers of these assets, which suffered sharp falls in the first half of 2022.

Cryptocurrencies have long been in the crosshairs of financial regulators. From the European Central Bank (ECB) to the International Monetary Fund (IMF) they have warned on countless occasions of the risks involved.

With the strong fall registered in the first half of this year, the cases of fraud or the organization of macro events have increased misgivings towards these assets.

“In the same way that at the end of the 90s everyone wanted to be in the ‘internet boom’ and put a ‘.com’ to any business, now we are at the gates of web 3.0, crypto assets, and the metaverse,” Pablo Gil, head of strategy at XTB and speaker at the controversial event organized by Mundo Crypto, explains to EL ESPAÑOL–Invertia.

Most of the companies that led the first projects of the network of networks in the 1990s ended up disappearing, giving way to other companies that later exploited that technological change.

Now, “the same thing will happen, most of the current projects will not be viable in the future but there will be new ones that will lead the change,” explains Gil.

Crashes

The strong crashes that cryptocurrencies have experienced, especially during the last part of the first semester, have already claimed the first victims. Some cryptocurrencies have failed, and several investment platforms have been doomed to bankruptcy.

Bitcoin, the most famous cryptocurrency, plummeted from nearly $70,000 last November to $17,601 in mid-June. At the same time, Ether, the second largest cryptocurrency, fell from $4,730 to $881.

From those levels, that is, in two and a half months, they have recovered 17% and 78% of their value, trading at around 20,600 and 1,570 dollars, respectively. High volatility is precisely one of the risks referred to by both the National Securities Market Commission (CNMV) and the Bank of Spain when they warn about this type of asset.

More Falls

Despite the fact that “no one has a crystal ball” to know what will happen in the future, Gil points out that “we have not yet seen the bottom of the prices of cryptocurrencies.” That is, he believes that they will continue to fall.

“A huge percentage of them will end up disappearing completely and others will emerge to replace them,” he reiterates. For this reason, “only a small handful will consolidate their position and become highly relevant assets in a few years.”

To invest in cryptocurrencies, Gil gives the same advice as to invest in any other type of financial asset. Getting training, analyzing the risks, diversifying, and investing only the money that is not needed through institutions regulated by the CNMV or its equivalent in other countries, are his basic recommendations.

“Don’t forget that this is a long-distance race and not a sprint. If you are thinking of becoming a millionaire in a short time, it is most likely that you will end up losing all your money”, he adds.

Risks

Gil will be present at the WiZink Center in Madrid to participate in the controversial event organized by Mundo Crypto. He will share a table with the economists Daniel Lacalle and Juan Ramón Rallo to talk “about the current and future economic situation”, about “how the metaverse is going to change our lives” and “about the risks involved in investing in crypto assets”, something he has been doing for years.

The also director of MethodTrading believes that Mundo Crypto “is a magnificent opportunity to openly talk about the opportunities and risks” that cryptocurrencies entail.

By Audy Castaneda

Whales Move Ethereum (ETH) to Exchanges Awaiting Merger

The whales are moving their ETH funds to exchange addresses. The native token of the Ethereum network has been the most traded in the crypto market since August. Binance will suspend ERC-20 token deposits and withdrawals during The Merge.

Major investors in the Ethereum (ETH) network are sending their holdings in the asset to exchange addresses, according to a study by Santiment.

The Merge, an event where the ETH mainnet will merge with the Beacon Chain and adopt the Proof-Of-Stake (PoS) method as a consensus, has entered the countdown after the Ethereum Foundation confirmed that the event should take place between September 10 and 20.

The merger, long-awaited by networking enthusiasts, has had a positive impact on the price of the world’s second-largest cryptocurrency. Since the Ethereum 2.0 date was announced on July 15, the network’s native token has surged 70%, according to TradingView, despite undergoing a price correction in recent weeks.

However, this upward trend could quickly reverse, due to the movements that whales make in the net. Data from analytics firm Santiment shows that leading Ethereum cold wallets have reduced their ETH holdings by 11% in recent months, moving their crypto to swap addresses.

In theory, sending large amounts of an asset to exchanges is considered negative, as it indicates that large investors want to sell or exchange these tokens for other cryptocurrencies. In this case, this could increase the selling pressure of ETH, causing its price to drop considerably.

ETH Demand Continues to Rise

On the one hand, the movement of the whales can cause the price of ETH to fall, but the general demand for the asset is still a bullish indicator. An analyst from CryptoQuant highlighted that the cryptocurrency currently has the highest demand in the market, surpassing even Bitcoin (BTC).

In August, Ethereum accounted for 40% of all trading volume in the cryptocurrency market, while BTC absorbed around 30%. Thus, The Merge continues to boost the asset, despite the price corrections that the crypto market has been suffering in recent days.

Binance Will Suspend Withdrawals and Deposits during the Merger

In a statement, Binance announced some security measures that will be taken in relation to The Merge. Users of the world’s largest exchange in terms of trading volume were unable to deposit or withdraw ERC-20 tokens on September 6 as of 8:00 a.m. m., Brasilia time.

On this date, the merger will be updated in the Bellatrix consensus layer, marking the initial step towards ETH 2.0. On September 14, the date set for the Paris execution layer update, withdrawals, and deposits will be suspended from 21:00 GMT.

Despite the closures, other activities related to ETH and other ERC-20 tokens, such as spot and futures trading, are expected to function unchanged during The Merge, in addition to lending and asset sharing.

By Audy Castaneda

The Price Action of XMR Indicates the Whales Might Be Hoarding

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If the price of XRM exceeds the USD 172 resistance, it will continue the upward recovery trend before reaching around USD 179.60 and USD 183.10. Even though there were recently lower trading volumes, the price increased as an indication of hoarding by the whales.

Some investors bought Monero (XMR) at its yearly low of 96.7 USDT on June 17th. They received a return on investment (ROI) of around 79% if they sold within the last few days. However, that bullish rally is far from resuming its all-time high of 519 USDT on May 6th, 2021.

Although that indicates that XMR might still be on a bullish rally after the collapse, there are several factors to consider:

The trading volume of the bullish days was lower than usual, indicating a stage of hoarding by the whales.

In addition, Monero has been trading at a midpoint of its price over the last few days. It shows a downward trend, as it is ​​below the 20, 50 and 100-day EMAs. Since all points to a pullback from the upward recovery trend, XMR needs to exceed the USD 172 resistance to keep rising.

However, the overall crypto market undergoes a bearish trend as the Ethereum Merge approaches, with probabilities of unusually high volatility. So the path for the Monero price to continue the previous uptrend becomes complex.

The Price of XMR Might Continue to Rise

The breakout of the resistance around USD 172 would imply the upward recovery trend would continue. Amid that hypothetical scenario, the next resistance would be between USD 179.60 and USD 183.10. When the value of XMR overcomes those levels, it would be ready to consolidate around USD 206.

However, those situations seem increasingly likely since the price broke through the USD 160 and USD 150 support. However, the path of XMR toward USD 200 might extend until late 2022 or early 2023 if the bearish trend suffers a reversal.

Since the USD 142 zone shows an accumulation area, it may represent a rebound for the current scenario before continuing the previous bullish recovery trend.

Monero occupies an excellent position among the cryptocurrencies that boost fully private transactions. It also offers inventors the advantage of being a pioneer in this area.

Not Everything Is Rosy for XMR in the Long Term

The price of XMR is recovering from a considerable drop causing it to lose close to 80% of its value. Therefore, the upward trend over the last few days may have been only a relief rally before further falls.

Low trading volumes also accompanied that increase, which might represent hoarding by the whales.

However, the whales are the lesser evil for long-term predictions, as Monero was the flag cryptocurrency of privacy years ago. Vulnerabilities detected on that network demolished it, making it possible to trace transactions. Although they solved those weaknesses, each has caused those seeking absolute privacy to lose trust.

Besides, new options are aiming to innovate on Monero, such as Zcash and Verge. Other networks like Phala Network seek to implement smart contracts and cloud computing privately.

The behavior of the whales might determine whether the price of XMR will consolidate above USD 200.

By Alexander Salazar

CryptoConexión: A Look at the Crypto World with a Latin American Lens

The main source of CryptoConexión users comes from Colombia, Venezuela, Mexico, the United States, and Peru. 51% of the audience of its platform corresponds to women.

A few years ago, while spending Christmas at her grandmother’s house in Mexico, Monica Talan began considering investing in Bitcoin for the first time with her sister. By that time, I had already heard about the virtual currency, especially about its dizzying rise. “Back then, I didn’t know that other currencies existed,” says the founder of CryptoConexión, an educational and informative platform focused on everything related to cryptoeconomics and aimed at users from Latin America and Hispanics in the United States.

It would not be until 2020, however, that Talan, an expert in corporate communications, decided to take the real leap and acquire Bitcoin for the first time.

Bloom of CryptoConexión

Talan’s exploration was the seed that ended up flourishing in CryptoConexión. “I wanted to create something like for me, a person who had never studied finance or technology, something that was easy to understand.”

The idea had great potential if one takes into account that, according to a study by Mastercard, 51% of Latin Americans have made a transaction with crypto.

Today, the platform has a wide range of content designed to engage, inform and help Spanish speakers enter the world of Blockchain, cryptocurrencies, NFTs, and Web 3.

Although a team of editors, writers, and reporters bring a highly journalistic profile to CryptoConexión, Talan decided early on that he would not compete in the breaking news arena, as there are already several valuable offerings in that segment.

Innovative Latino Projects

One of the things that has surprised Talan the most, during the nine months that his platform has been running, is the number of interesting projects of Latin Americans and Hispanic Americans in the crypto economy.

In turn, this has brought to light the sense of community that exists in the crypto world, in which most of those involved seem comfortable collaborating rather than competing, even amid the volatility the market is going through.

In this sense, in Talan’s opinion, what will happen with the crisis that the market is going through is that projects that did not have real potential will cease to exist, in the same way, that happened with the bursting of the dotcom bubble at the beginning of the decade. 2000. And in this new scenario, Latin America will have a leading role.

Another thing that has surprised her is how quickly women are joining this economy. “One of my goals, which I wasn’t sure if we were going to be able to achieve, was to bring more women into this world and for me, it has been super positive and I love seeing the participation of women on the page,” says Talan.

From January until now, 51% of the audience of its platform corresponds to women. And not only that: 70% of the CryptoConexión team is female, such as the founder, the leader of the educational area, and the project manager who runs the project on a day-to-day basis.

“For the CryptoConexión team, the goal is to be the door to the decentralized economy,” added the founder. “We want to help all those interested in learning and participating in this new economy, and we are going to support them with all our available resources: platform, social networks, YouTube channel, podcasts, and books,” she concluded.

By Audy Castaneda