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Worldcoin integrates with Shopify, Mercado Libre, Minecraft, Reddit and Telegram

Worldcoin released a new version of its World ID feature with multiple app integrations.

Worldcoin has launched a new version of its World ID feature, called “World ID 2.0″.

According to a Dec. 12 announcement, the new version is integrated with Shopify, Mercado Libre, Reddit and Telegram, allowing users to prove their humanness on these platforms.

The announcement stated that the new app integrations add to existing ones, including Discord, Talent Protocol, and Okta’s Auth0. The new version also allows app developers to choose between different levels of authentication, ranging from “lite” to “max.”

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Nifty News: BTC miners cash $5M on Ordinals, Reddit NFTs get botting backlash and more

Bitcoin transaction fees from Ordinals inscriptions have exploded by 240% over the last month.

Bitcoin (BTC) miners have pocketed over $5 million from creating nonfungible tokens (NFT) inscriptions using the Ordinals protocol.

Transaction fees for Ordinals transactions exploded 240% from $1.5 million on March 10 to 5.2 million by April 12, according to Dune Analytics data.

The rise came on the back of a relatively slow period between Feb. 16 and March 10, from $1 million to $1.5 million. Before that, fees hit the $1 million mark within the first four weeks of the Ordinals protocol launching on Jan 21.

Transaction fees paid for Ordinals inscriptions hit the $5 million mark on April 11. Source: Dune Analytics

Nearly 1.1 million Ordinals have been inscribed on the Bitcoin network, mostly comprising JPEG images and text but also consisting of PDFs, video and audio formats.

Roughly 100 to 500 inscriptions are processed in each Bitcoin block, which usually contains between 2,000 and 3,000 transactions. Block 783,758 on April 3 saw a record 3,785 inscriptions, representing nearly 87% of the entire block.

Reddit’s Gen 3 NFTs plagued by botting claims

Online community platform Reddit launched its third batch (Gen 3) of NFTs on April 12 — a “Futures Realities Collection” of collectible avatars created by over 100 artists.

Reddit explained in its announcement that the artists behind each limited edition Avatar will receive royalties upon each sale, and no cryptocurrency was needed to purchase them.

However, the release didn’t come without issues. Many Reddit users claimed they missed out on the sale because spam bots swooped in almost instantly.

Many also believe the bots were the reason behind Reddit’s NFT shop crashing shortly after launch.

“They didn’t incorporate any type of spam or bot prevention, like a simple captcha. Of course the site got overloaded,” one user wrote, with another remarking there was “no way you guys didn’t even think of stopping bots during this drop.“

Twitter user “Pastel Alpha” tweeted they managed to get “a good amount” of the NFTs “even though the site completely died” and thanked its “bot partners” for helping with its haul.

Reddit previously released a batch of Halloween-themed avatars in October 2022, which was followed by super bowl avatars in February.

Adidas releases first in series of dynamic NFTs

Shoe brand Adidas has released the first leg of its latest dynamic NFT collection, “ALTs by Adidas,” the latest move by the company in its quest to expand its NFT ecosystem.

The dynamic NFTs will evolve based on the decisions and engagement of the owner, according to an announcement on April 11, which described the collection as the “first step” toward owning an “ALTS by Adidas” identity.

The floor price of each Adidas NFT is 0.666 Ether (ETH) ($1,275) and has raked in 351 ETH ($672,000) in trading volume so far. There are now 8,989 owners, 56% of them unique.

Related: NFT warranties can help mass adoption of the technology, says Web3 exec

There are 16,000 items in total, and the creators take a 10% cut of each sale.

The ALTS by adidas NFTs are selling for a minimum of around 0.66 ETH. Source: OpenSea

Collectors must buy and burn phases 1 and 2 of Adidas’ “Into the Metaverse” tokens to receive the ALTS by Adidas NFT.

Be nonfungible, my friend: Bruce Lee enters Web3

An NFT collection commemorating the late kung-fu fighter and movie star Bruce “Little Dragon” Lee has been released by the Bruce Lee Estate in partnership with Shibuya, an NFT-driven video platform.

Plans for the release were revealed on April 11 when Lee’s Twitter account, managed by his family, shared an old video clip of Lee, transforming him into an animated version of himself.

The NFTs sold at a starting price of 0.008 ETH ($15), with 13,907 minted in the first 24 hours, totaling over $205,000, according to its smart contract address on Etherscan.

The NFTs were drawn by artist Emily “pplpleasr” Yang and were designed by Shannon Lee — Bruce Lee’s daughter.

Cover album of “House of Lee: Genesis” NFT. Source: Manifold

Despite it being an “open edition” collection, collectors can only mint a maximum of 100 of the NFTs.

Other Nifty News

NFT marketplace OpenSea launched “OpenSea Pro” last week, a new, specialized NFT marketplace aggregator aimed at serving the needs of professional NFT traders. The service was made possible by OpenSea’s acquisition of fellow NFT aggregator Gem in April 2022.

An NFT trader “fat-fingered” a bid for a free NFT, buying it at 100 Ether ($191,000). The token was part of NFT marketplace OpenSea’s Gemesis NFT collection to commemorate the launch of OpenSea Pro on April 4. Some believe the trader meant to bid the token for $100 instead.

NFT Creator, Emily Xie: Creating ‘organic’ generative art from robotic algorithms

Reddit back up: Site resolves ‘major outage’ after nearly 6 hours

The platform says “things are back in order” after it identified and fixed an internal systems issue that took its website offline for almost six hours.

Social media platform Reddit is back online after it identified and implemented a fix for a “major outage” that made browsing impossible for desktop and mobile users for almost six hours.

The platform first noted it was offline at 7:18 pm UTC on March 14, according to Reddit Status, and said it was working to identify the issue.

Screenshot of the r/Cryptocurrency subreddit during the outage. Source: Reddit

About 30 minutes later, at 7:56 pm UTC, it said it had identified an internal systems issue and was working to determine a fix. It confirmed th fix around two hours later, stating:

“We’ve identified a fix which may take some time to implement, in the meantime ready your bananas (or eat them!).”

In an update four hours after its initial announcement, Reddit said it had “implemented our fix” and was “slowly allowing things to ramp back up” and later confirmed “things are back in order” after a nearly six-hour outage.

Users who visited the website when it was offline saw blank boxes in some places where threads and comments would normally be shown. As of writing the website pages now show content and it appears to be functioning normally.

Reddit is a popular platform for cryptocurrency investors and enthusiasts, with some of the more popular subreddits including r/CryptoCurrency, r/Bitcoin and r/CryptoMarkets.

According to APE Wisdom, the top trending cryptocurrencies on Reddit (by the number of mentions) in the past 24 hours at time of writing included Bitcoin (BTC), Ether (ETH) and USD Coin (USDC).

Redditor could lose young family after crypto trading addiction spirals

What began as a Redditor “just dabbling” two years ago blew into full-blown crypto trading addiction that all came to a head three weeks ago.

A self-confessed crypto trading addict and father of two is facing the dire prospect of losing his family forever after secretly racking up $180,000 in debt from his crypto trading habits. 

Posting his story on the subreddit r/relationship_advice on Feb. 21, Reddit user “u/Leather_Opposite2135” said he started dabbling in cryptocurrency trading around 2021.

Fast forward two years to the present day, he’s been kicked out by his wife and is at least $180,000 in debt.

Excerpt of one of the comments by the original poster responding to another Redditor. Source: Reddit

“It started just dabbling,” said Leather. “It’s a tech space so I found it very interesting. Joined a bunch of online spaces (Discord) and eventually watched a few people trading btc and immediately got hooked.”

Within a year, he had already “burnt” $50,000 from trading cryptocurrency, with the funds lost coming mainly from his software business.

“Skip forward another year and it got really bad,” said Leather, noting that his addiction had started to take hold as he started to fund his trading through other means, such as personal loans and credit cards.

“I’m sure you’ve heard it before, but I found all sorts of ways to fund it, including getting personal loans, credit cards, lying about all of it.”

“I was gambling on my phone when I went to the bathroom, when the kids were sleeping, on my computer when not busy with work.”

Leather noted that around three weeks ago he finally came clean about the debt to his wife, who didn’t take the news well, threatening to leave him and take ownership of their house.

He’s since banned himself from crypto, handed over control of his trading accounts to his wife, and has been seeing a gambling addiction counselor weekly, but admitted it was initially hard to shake the addiction.

“Emotionally, I was all over the place for the first 2 weeks. Cold turkey from something I spent 10 hours a day on (minimum) […] All the while the little voice telling me to go looks at charts on the shoulder.”

The original post on Reddit has since been deleted by Leather_Opposite2135, but it is neither the first nor last story shedding light on the possible dangers of crypto trading addiction.

Rehabilitation centers around the world have begun adding crypto trading addiction to their list of services treating compulsive habits, next to alcohol, drugs and behavioral health.

Crypto rehab center based in the United Kingdom. Source: Castle Craig

“Clinically, we have certainly seen an increase in people coming to therapy who report difficulties in managing their crypto trading behavior,” clinical psychologist Dr. Anastasia Hronis told Cointelegraph in an email.

“In a similar way to gambling, many of them will report that it disrupts their day to day life, they spend a lot of time thinking about it, and may also be experiencing financial hardship as a result.”

Dr. Hronis noted that similar to online gambling addiction, there is an “ease of accessibility” with crypto trading “that can be quite dangerous for individuals.”

Related: How to build a crypto portfolio without spending any money or time trading

“A person can be seen to be engaging in their normal day-to-day life e.g. going to work, spending time with family and friends, participating in hobbies etc, while still trading alongside. This means that an addiction can actually become quite severe before anyone else in that person’s life notices.”

“Given the newness of crypto trading, I think that treatment is still catching up to some degree. While the general principles of treating an addiction can certainly be applied here, there are nuances with crypto trading that would benefit from being better understood for better inform clinical treatments,” added Dr. Hronis.

Revoke your smart contract approvals ASAP, warns crypto investor

A Reddit user has warned of the potential dangers of unchecked smart contracts, advising the community to revoke approvals on a regular basis.

On the back of the worst year for crypto hacks and exploits, the crypto community has given some advice to newbie investors going into 2023 — check your smart contract approvals and revoke access regularly.

Reddit user 4cademy posted their advice to the r/CryptoCurrency subreddit on Jan. 1, noting that they had approved a slew of smart contracts over a two-year period and “thought it was time to check my approved smart contracts.”

They found “nearly all” of their approvals were for “unlimited amounts,” which spurred them to revoke approvals for all smart contracts in their wallet as it was “better safe than sorry,” and advised:

“You should at least check your approvals too and possibly revoke them.”

The reason to do this, the user said, is that some users of decentralized finance (DeFi) protocols or nonfungible tokens (NFTs) could have mistakenly approved malicious smart contracts from phishing attempts that could be lying in wait to steal user funds.

Such ice phishing scams have been successful in the past, with one such elaborate month-long scam involving an offering from a fake film studio leading to 14 Bored Ape Yacht Club (BAYC) NFTs stolen from a single wallet.

Even known “good-behaving” contracts should be revoked as hackers could find exploits to pilfer funds from connected wallets.

The 10 largest exploits in 2022 saw around $2.1 billion stolen mostly from DeFi protocols and cross-chain bridges where attackers found vulnerabilities in existing smart contracts to carry out their heists.

Related: Developers need to stop crypto hackers or face regulation in 2023

The user offered up further advice, saying to “use different wallets for different purposes” such as having a wallet that only interacts with smart contracts and another that doesn’t which is used for the sole purpose of holding funds.

Users commenting on the post also suggested that one could schedule a reoccurring interval to revoke all smart contract approvals, such as on the 1st of every month or even at the start of every week.

Others suggested there were third-party services that could check and revoke smart contract approvals across a number of chains, including BNB Smart Chain, Ethereum and Polygon. 

One user responded that the “best” advice was to interact with as few smart contracts as possible, saying “revoking permissions is good practice but not giving permissions in the first place is better.”

Web3 community shares tips for a successful GameFi project

From creating e-sports competitions with huge prize pools to making game tokens more relevant to holders, members of the community share their thoughts on GameFi.

As the GameFi space continues its journey to attract gamers to a new gaming paradigm, community members shared their takes on what they think a mature GameFi project needs to succeed. 

One Redditor suggested that GameFi projects need to appeal to several target audiences, including whales, who will provide funding; earners, who are mostly kids and people from developing countries; and those who play for fun, who will leave good reviews for the game.

Another community member pointed out the need to improve the reputation of the space. According to the Redditor, some consider GameFi a scam — and this needs to be changed. In addition, the community member also highlighted that it would help if GameFi projects held e-sports competitions with high prize pools as rewards.

Meanwhile, one user said that a matured GameFi project must have a way to make its token relevant for gamers. This suggests that further use cases must be added. In addition, the user also suggested integrating decentralized finance liquidity mining for the tokens.

Going back to the basics of gaming, another community member believes that the most important factor GameFi projects should focus on is making the game fun and engaging, which will make users come back “day in and day out.”

Related: Big Time and other Web3 games take home the gold at the inaugural GAM3 awards

While some gamers may be against GameFi, a recent survey showed that some are willing to play more blockchain games if they are given opportunities to earn cryptocurrency, such as Bitcoin (BTC). The survey also showed that more gamers are interested in earning BTC while playing than earning nonfungible tokens.

Nifty News: Reddit NFT mints reach all-time high, EU’s $400K Metaverse party flops and more

With the record mint day for Reddit avatar NFTs, there are now around 4.4 million Reddit NFTs in circulation.

Reddit’s NFT minting hits new high

Reddit’s nonfungible token (NFT) collection hit another milestone on Dec. 3, with a record 255,000 of its “avatars” minted in one day.

The new minting record beat the previous all-time highs on Aug. 30 and 31, which saw just over 200,000 Reddit avatars minted each day.

The NFTs are primarily used on the social media platform as a users’ avatar and are created by a number of independent artists that use the platform.

At the time of the collection’s launch in July, it was widely seen as a way to boost mainstream adoption of blockchain technology as Reddit shied away from using crypto for purchases of the avatars and chose to call them digital “collectibles” instead of NFTs.

The number of Reddit avatars minted, one bar represents one day. Source: Dune

With the record mint day, Reddit’s Polygon-based NFTs now boast around 4.4 million in circulation, according to data from Dune Analytics.

However, despite the amounts minted, Dune data shows just over 40,000 Reddit avatar NFTs have been sold since their launch, and there are around 3.7 million holders of avatars, indicating that most choose to hold onto their NFT.

The sales volume of the collectibles recently hit an all-time high of $2.5 million on Oct. 24 across 1,991 buyers.

Some of the rarer Reddit NFTs have seen premium prices on secondary NFT marketplaces such as OpenSea, with some of the most expensive selling for over $300, while the platform’s own marketplace sees prices of around $50.

EU went all out on a Metaverse party, barely anyone came

The European Union’s foreign aid department is understood to have dished out nearly $408,000 (€387,000) on a metaverse and hosted a party on Nov. 29 to celebrate, but only six people reportedly turned up.

Devex reporter Vince Chadwick tweeted a video on Nov. 29 showing his metaverse avatar attending the “gala” and said, “after initial bemused chats with the roughly five other humans who showed up, I am alone.”

“Is anybody out there?” reads one of the messages on the screen in the video. “The concert is just the same DJ spinning the same music,” another message says.

The EU-crafted metaverse was made to promote it’s “Global Gateway” initiative that aims to develop and build infrastructure in developing nations.

The metaverse, seemingly also named “Global Gateway,” was quietly launched in mid-October with a “depressing and embarrassing” promotional video, according to an anonymous EU foreign aid department staff member that spoke to Devex.

According to an EU spokesperson, the target audience for its metaverse is 18 to 35 year olds, “who identify as neutral about the EU and are not particularly engaged in political issues,” and the promo video was “to intrigue that audience, primarily on TikTok and Instagram” and encourage them to engage with the campaign.

TimeX “Goes Ape” with the BAYC

Watch manufacturer TimeX said on Dec. 1 it’s partnered with the Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFT projects to create custom watches.

TimeX is creating 500 physical watches and matching “twin NFTs” that will allow Bored and Mutant Ape holders to customize a watch including its case, strap and etchings while, of course, featuring the owners’ NFT on the watch face.

The watches will be gated behind an NFT at the cost of 2 Ether (ETH), or around $2,500, with BAYC and MAYC holders then able to use the NFT to create a watch from mid-December that will ship in in the second quarter of 2023.

NFT sales increase for first time in 7 months

U.S. dollar-denominated NFT sales have managed to jump 16% in the month of November, bucking more than seven months of decline, according to data from Cryptoslam.

In November, NFT sales amounted to $534 million, up from October’s nearly $460.4 million.

It was the first month since April that NFT sales increased, January saw record NFT sales totaling $4.7 billion, while October was the slowest sales month in 2022.

Related: How NFT court summons could change the legal landscape

The increase in November is likely due to high-priced NFT sales, such as two BAYC NFTs that sold for close to $1 million each on Nov. 23 and 24.

Cryptoslam data shows over the past 30 days the top three NFT collections were BAYC, MAYC and Otherdeeds — all Yuga Labs-owned projects. The top BAYC collection has seen 30-day sales increase by 89.5% indicating that high-priced NFT sales could have driven November sales up.

Meanwhile, total transaction volume between October and November saw a 17.6% decrease.

More Nifty News

Internet browser Opera has created an NFT minting tool that allows users the ability to drag and drop media files into its application which will turn those files into NFTs by writing a smart contract and uploading them to a blockchain.

Coinbase has slammed Apple over the firm blocking the latest release of its crypto wallet app. Coinbase says Apple wanted it to disable NFT transactions until it could “collect 30% of the gas fee,” something Coinbase says is “clearly not possible” as Apple’s system “does not support crypto so we couldn’t comply even if we tried.”

FTX names Kroll as claims agent, to update users on bankruptcy developments

Claims and noticing agents such as Kroll are often assigned to bankruptcy cases where the number of creditors exceeds a thousand.

Bankrupt crypto exchange FTX has appointed restructuring administration firm Kroll as its agent to track all claims against FTX and ensure interested parties are notified of developments throughout its Chapter 11 bankruptcy case.

Known as the “claims and noticing agent,” Kroll was appointed to the role on Nov. 12, with the news made public on Nov. 17 and aims to compile a database of all claims against FTX Trading and 101 affiliated companies.

At the time of writing, this database lists only eight claims, including one from Singaporean-based blockchain development firm Ethereal Tech for $11.7 million, but will soon be fleshed out as more claims against the group are lodged.

For example, one other case that Kroll has worked on, that of rental car company Hertz, has 62,061 claims against it from its Chapter 11 bankruptcy case.

The eight claims currently included already amount to $40.9 million, though FTX Trading alone is understood to owe customers and investors as much as $8 billion.

Within the filing, the firm has also compiled a list of interested parties it will keep updated on developments, which it acknowledges is incomplete and does not currently include customers.

This list is currently composed of approximately 750 parties who have some kind of interest in the case, with some of the included groups consisting of debtors, banks, landlords, insurance providers, directors, landlords and regulators.

Some noteworthy names included in the list are National Australia Bank (NAB), Apple, Facebook, JPMorgan, Chainalysis, Wells Fargo, Bank of America, Circle, Stephen Curry, Reddit and Yuga Labs.

Meanwhile, the number of creditors involved with FTX is thought to be in excess of one million, and corporate securities lawyer Margaret Rosenfeld told Cointelegraph it will take years before any begin to receive any funds back, adding:

“You can’t make creditor distributions until these claims are analyzed. It’s also way too early to speculate on what kind of distribution creditors will get back. Though in mega cases, such as this, full recovery would be unusual.”

Kroll Restructuring Administration is an indirect subsidiary of Kroll LLC, which is one of the world’s largest corporate intelligence companies. Notably, the firm had been employed by Harvey Weinstein on multiple occasions, including when allegations of sexual harassment were brought against him in 2016.

Related: SBF received $1B in personal loans from Alameda: FTX bankruptcy filing

The parent company offers a wide range of services in areas such as environmental, social, and corporate governance (ESG), valuation, compliance, cyber risk, investigations and corporate finance.

On Nov. 15, regulators in the Bahamas argued that FTX’s new CEO lacks the authority to initiate Chapter 11 proceedings in the United States, with the provisional liquidator overseeing the bankruptcy proceedings of FTX Digital Markets in the Bahamas rejecting the “validity of any purported attempt to place FTX Affiliates in bankruptcy.”

Traders expect 200% upside from MATIC, but does Polygon network data support that?

MATIC’s recent rally and partnerships are turning heads and on-chain activity may hint at further growth.

In the past year, Polygon (MATIC) has focused on growing their list of high-profile partners which includes luminaries like Disney, Starbucks and Robinhood. The recent announcements of partnerships with both Instagram and JPMorgan have speculators pushing the token price up nearly 200%. 

In addition to partnerships, blockchain adoption through network usage is important to analyze. Blockchain adoption can be analyzed by looking into daily active users of the blockchain, protocols using the technology, number of transactions and total locked value.

Total value locked on Polygon rises above $1B

Total value locked (TVL) is one cryptocurrency indicator used to assess the market’s sentiment towards a particular blockchain. TVL on Polygon requires utilizing the MATIC blockchain and locking funds in the various DeFi platforms available across the network.

Rising TVL is a sign of growth, or new liquidity entering the ecosystem but it does not necessarily mean that the network and associated assets are “turning bullish.”

While the top 3 protocols, Ethereum (ETH), Binance Coin (BNB) and Tron (TRX) all have a TVL over $5 billion, MATIC, Avalanche (AVAX) and Arbitrum are the only others with over $1 billion in TVL.

According to data from Token Terminal, Polygon and Fantom (FTM) are the only blockchains to post positive TVL numbers in both 1 day and 7 day metrics.

Top blockchains sorted by TVL. Source: Defi Llama

Top 3 protocol blockchain for developers

Protocols are essentially decentralized applications (dApps) built using smart contracts on top of public blockchains. The recently announced partnerships have be tested but have not yet fully launched.

Even if the new partnerships do not fully materialize, the network is already a top contender for developers to build their smart contracts.

Top blockchains sorted by protocol number. Source: Defi Llama

Polygon is a newcomer when compared to Ethereum. So although Ethereum has more protocols than Polygon, Ethereum launched mainnet with a 5 year head start.

Polygon’s astronomical growth in protocols launching on their blockchain is notable because according to TokenTerminal’s data, Ether’s market cap dominates MATIC 90% to 10%.

Related: JP Morgan executes first DeFi trade on public blockchain

Polygon sees an uptick in fees and daily active users

In addition to Polygon’s price growing 12% in the past month, the network’s daily fees and daily active users have grown by 200% since August 5 lending credence to the Cointelegraph prediction.

On August 5, Polygon collected $42,093 in fees and had 248,853 daily network users. By October 13, the network’s daily active users peaked at 737,815 following the success of the Reddit NFT avatar launch. Following on October 25 the network hit a 90 day peak of $131,940 in daily fees.

Polygon network fees and daily active users. Source: TokenTerminal

When comparing the on-chain activity and analysis with the recent MATIC rally, the data suggests that speculation on the partnership news matches the fundamentals.

While it is a stretch to forecast a 200% potential gain in MATIC growth by only using technical analysis, Polygon’s network growth and daily active user stats are encouraging.

The number of transactions and TVL could be a sign that network fundamentals align with the expectations of technical analysts. MATIC’s strength versus competing chains, while still being only a fraction of Ether and BNB’s market cap is quite bullish for its long-term growth prospects.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Here are top tips by the crypto community to get through the bear market

The common theme of advice revolved around focusing on long-term goals and avoiding short-term distractions be it price volatility or negative mainstream news.

The crypto bear market of 2022 has wiped out more than 70% of the market capitalization from the top. The total crypto market cap breached $3 trillion at the bull market’s peak last year but currently struggling to remain above $1 trillion.

At a time when the majority of the cryptocurrencies are moving sideways with no significant bullish momentum recorded in months, it can get a little frustrating, especially for those who jumped in at the market top in hopes of making some quick money.

As crypto-winter worsens, the Reddit crypto community shared their coping mechanisms and some “serious” tips to remain on top of their mental health during this cyclic event.

One Reddit user wrote that they are in it for the long term, thus, they ignore the charts and daily fluctuations:

“I ignore the charts as well as ensuring that I have a full-time job so that I always have income that I can rely on. It’s a long-term game for me, so I treat it as such. Daily fluctuations don’t matter if you aren’t going to sell anyway.”

Another user in the thread advised against tuning into the news as most of the news outlets today focuses on “sensationalizing everything.”

One user gave a golden piece of advice: Don’t invest more than you can afford to lose and said that until the bull market returns, they followed the dollar-cost averaging (DCA) investment theory. DCA is the practice of systematically investing equal amounts of money at regular intervals, regardless of the price of an asset. 

Related: Redditors share ‘reasonable’ goals in response to crypto billionaire survey

While crypto veterans who have been in the game for a long realize that the bear market might be long but would eventually end, the new traders who jumped on the crypto bandwagon due to the hype or peer pressure might not. For them, a user suggested the importance of going out for some fresh air and wrote:

“Can’t stress enough how important some fresh air and outside time can be. Are charts getting you down? Go for a walk, it’ll help wonders. Remember the best investment you can do is in your mental health.”

The Reddit thread on how to cope with a bear market had a common theme i.e focus on the long term and forget about daily price volatility. Crypto winter might stretch for years, but in the end, it is a cyclic event that will be followed by a bull run.