Summary of the day: December 27
🇵🇼 President of the Republic of Palau Suranhel C. Whipps Jr. shared his plans to create a national stаblecoin. A company called Ripple Labs has taken on the project. Palau is a state with a population of 19,000 people that does not have a central bank or even a national currency.
🇯🇵 Japan may lift restrictions on the circulation of foreign stаblecoins. This could happen as early as next year. However, there are also plans to introduce a number of rules regulating digital assets and tightening control over their circulation.
🇵🇭 The Сentral bank of the Philippines began working with the IMF on a wholesale CBDC project. The Сentral bank of the Philippines supports wholesale CBDCs, arguing that retail CBDCs are unattractive because of the variety of digital payments available in the country.
👩🎓 Authorities in El Salvador plan to launch bitcoin education for 250,000 students in 2023. By comparison, in 2022, the curriculum reached more than 10,000 students. The "My First Bitcoin" curriculum is designed to last 10 weeks.
📉 Core Scientific, the largest public Bitcoin mining company that provided 10 percent of the Bitcoin network, has declared bankruptcy. Another public Bitcoin miner, Greenidge Generation, is on the verge of bankruptcy.
📉 Trading volume on spot exchanges is down 53% in 2022. The largest centralized crypto exchanges reported trading volume of $10 trillion for that year, a more than two-fold decrease from 2021.
🧤 According to court documents, former FTX head Sam Bankman-Fried and exchange co-founder Gary Wang borrowed about $546 million from Alameda Research to buy a 7.6% stake in fintech company Robinhood.
🏟 Investors have been withdrawing ETH from exchanges over the past 12 months, which should have a positive effect on its value. According to CryptoQuant, the volume of cryptocurrency on trading floors has decreased by 30% since the beginning of 2022.
Website | Twitter | LinkedIn | Telegram
🇵🇼 President of the Republic of Palau Suranhel C. Whipps Jr. shared his plans to create a national stаblecoin. A company called Ripple Labs has taken on the project. Palau is a state with a population of 19,000 people that does not have a central bank or even a national currency.
🇯🇵 Japan may lift restrictions on the circulation of foreign stаblecoins. This could happen as early as next year. However, there are also plans to introduce a number of rules regulating digital assets and tightening control over their circulation.
🇵🇭 The Сentral bank of the Philippines began working with the IMF on a wholesale CBDC project. The Сentral bank of the Philippines supports wholesale CBDCs, arguing that retail CBDCs are unattractive because of the variety of digital payments available in the country.
👩🎓 Authorities in El Salvador plan to launch bitcoin education for 250,000 students in 2023. By comparison, in 2022, the curriculum reached more than 10,000 students. The "My First Bitcoin" curriculum is designed to last 10 weeks.
📉 Core Scientific, the largest public Bitcoin mining company that provided 10 percent of the Bitcoin network, has declared bankruptcy. Another public Bitcoin miner, Greenidge Generation, is on the verge of bankruptcy.
📉 Trading volume on spot exchanges is down 53% in 2022. The largest centralized crypto exchanges reported trading volume of $10 trillion for that year, a more than two-fold decrease from 2021.
🧤 According to court documents, former FTX head Sam Bankman-Fried and exchange co-founder Gary Wang borrowed about $546 million from Alameda Research to buy a 7.6% stake in fintech company Robinhood.
🏟 Investors have been withdrawing ETH from exchanges over the past 12 months, which should have a positive effect on its value. According to CryptoQuant, the volume of cryptocurrency on trading floors has decreased by 30% since the beginning of 2022.
Website | Twitter | LinkedIn | Telegram
Hello there!
Day started from:
The global cryptocurrency market cap today is $830 Billion, a -2.0% change in the last 24 hours
Bitcoin ~ $16,611.40 (-1.6%)
Ethereum ~ $1,192.82 (-2.5%)
Solana ~ $9.93 (-11.5%)
Polkadot ~ $4.33 (-4.1%)
Flow ~ $0.700648 (-6.9%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram
Day started from:
The global cryptocurrency market cap today is $830 Billion, a -2.0% change in the last 24 hours
Bitcoin ~ $16,611.40 (-1.6%)
Ethereum ~ $1,192.82 (-2.5%)
Solana ~ $9.93 (-11.5%)
Polkadot ~ $4.33 (-4.1%)
Flow ~ $0.700648 (-6.9%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram
Cardano, Polkadot, Kusama lead in development activity over the past month
Over the past month, the highest blockchain development activity was recorded in Cardano (ADA), Polkadot (DOT), Kusama (KSM), Cosmos (ATOM), Decentraland (MANA), and Ethereum (ETH) – data from Santiment revealed. Development activity indicates a project’s dedication to creating a viable product.
According to Santiment, Cardano (ADA) is currently the most actively developed crypto. Multiple innovations…
https://cryptoinsight.ae/cardano-polkadot-kusama-lead-in-development-activity-over-the-past-month/
Website | Twitter | LinkedIn | Telegram
Over the past month, the highest blockchain development activity was recorded in Cardano (ADA), Polkadot (DOT), Kusama (KSM), Cosmos (ATOM), Decentraland (MANA), and Ethereum (ETH) – data from Santiment revealed. Development activity indicates a project’s dedication to creating a viable product.
According to Santiment, Cardano (ADA) is currently the most actively developed crypto. Multiple innovations…
https://cryptoinsight.ae/cardano-polkadot-kusama-lead-in-development-activity-over-the-past-month/
Website | Twitter | LinkedIn | Telegram
🖼 According to analyst firm Nansen, trading volume with NFT on Ethereum in 2022 was $23.7 billion. Transaction volume ($1.6 billion) peaked in early May 2022, when Yuga Labs unveiled Otherside's meta-universe.
🐵 The NFT collection Bored Ape Yacht Club had the highest turnover.
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🐵 The NFT collection Bored Ape Yacht Club had the highest turnover.
Website | Twitter | LinkedIn | Telegram
Cryptocurrencies and the duplicity of traditional finance
Many analysts from the traditional finance sector (TradFi) are sure that now (after a whole year of collapse of projects in the crypto-industry) the authorities of different countries around the world will just gradually destroy digital currencies. More precisely, to marginalize the cryptocurrency market, because it is impossible to ban everything in the modern world. In China, they are already banned at all, in the U.S. there is a wave of accusations against owners of cryptocurrency exchanges, Europe is preparing another wave of tightening of legislation...
But in reality, we see that TradFi representatives are surprisingly flexible when it comes to their own profits. For example, a year ago Bank of America surveyed 200 global fund managers holding more than $500 billion in assets in BTC, at which time about 74% of respondents said the digital coin is a bubble. That is, the same people thought Bitcoin was a scam, yet invested their own money and their clients' money in it. You must agree that this is an impressive example of doublethink. Quite worthy of a textbook on collective psychology.
Something similar is now happening in Russia, which the civilized world has imposed economic sanctions on all sides for its attack on Ukraine. The authorities there (and above all, the Central Bank) have spoken and continue to speak out against any cryptocurrency. However, they plunged into the new reality: they prepared a package of bills, which prescribes in the legislation all aspects of the use of digital ruble.
Digital ruble as the third form of the Russian national currency will be issued by the Central Bank and its turnover will be controlled by the Central Bank. Moreover, Russia even agreed that banks are not needed for the circulation of digital rubles. For a country with an extremely high level of corruption - an amazing step.
In general, the trend is clear. In different countries where regulators declare aversion to cryptocurrencies or the strictest attitude to them, financial market players are very willing to use crypto. Some for diversification of their investment portfolio, some for speculation, and some for "shadow" settlements, for tax evasion, for withdrawal of funds to offshore zones and so on.
The double-mindedness of both financiers and politicians is manifested in the fact that they declare some rules of the game for a wide range of people, and others - for the "elite", by which they mean themselves. But people see and understand this. And that is why they do not tend to support restrictive measures either in the field of cryptocurrencies or in the field of morality or something else. So, it's probably not worth worrying about over-enforcement of cryptocurrency restrictions in 2023. They'll talk, they'll pass some restrictions, and then they'll loosen them anyway. Because the market and profits. Which TradFi will never give up.
Website | Twitter | LinkedIn | Telegram
Many analysts from the traditional finance sector (TradFi) are sure that now (after a whole year of collapse of projects in the crypto-industry) the authorities of different countries around the world will just gradually destroy digital currencies. More precisely, to marginalize the cryptocurrency market, because it is impossible to ban everything in the modern world. In China, they are already banned at all, in the U.S. there is a wave of accusations against owners of cryptocurrency exchanges, Europe is preparing another wave of tightening of legislation...
But in reality, we see that TradFi representatives are surprisingly flexible when it comes to their own profits. For example, a year ago Bank of America surveyed 200 global fund managers holding more than $500 billion in assets in BTC, at which time about 74% of respondents said the digital coin is a bubble. That is, the same people thought Bitcoin was a scam, yet invested their own money and their clients' money in it. You must agree that this is an impressive example of doublethink. Quite worthy of a textbook on collective psychology.
Something similar is now happening in Russia, which the civilized world has imposed economic sanctions on all sides for its attack on Ukraine. The authorities there (and above all, the Central Bank) have spoken and continue to speak out against any cryptocurrency. However, they plunged into the new reality: they prepared a package of bills, which prescribes in the legislation all aspects of the use of digital ruble.
Digital ruble as the third form of the Russian national currency will be issued by the Central Bank and its turnover will be controlled by the Central Bank. Moreover, Russia even agreed that banks are not needed for the circulation of digital rubles. For a country with an extremely high level of corruption - an amazing step.
In general, the trend is clear. In different countries where regulators declare aversion to cryptocurrencies or the strictest attitude to them, financial market players are very willing to use crypto. Some for diversification of their investment portfolio, some for speculation, and some for "shadow" settlements, for tax evasion, for withdrawal of funds to offshore zones and so on.
The double-mindedness of both financiers and politicians is manifested in the fact that they declare some rules of the game for a wide range of people, and others - for the "elite", by which they mean themselves. But people see and understand this. And that is why they do not tend to support restrictive measures either in the field of cryptocurrencies or in the field of morality or something else. So, it's probably not worth worrying about over-enforcement of cryptocurrency restrictions in 2023. They'll talk, they'll pass some restrictions, and then they'll loosen them anyway. Because the market and profits. Which TradFi will never give up.
Website | Twitter | LinkedIn | Telegram
Daily crypto trading falls below $10 billion, while Bitcoin accumulation nears a new record
As of the end of December, daily spot trading volume fell below $10 billion. Trading volumes haven’t been that low since Dec. 17, 2020, when bitcoin’s price first broke past $20,000. Meanwhile, Bitcoin accumulation is nearing record 800,000 addresses despite whale selling, while Bitcoin exchange withdrawals sink to a 7-month low.
According to The Block’s…
https://cryptoinsight.ae/daily-crypto-trading-falls-below-10-billion-while-bitcoin-accumulation-nears-a-new-record/
Website | Twitter | LinkedIn | Telegram
As of the end of December, daily spot trading volume fell below $10 billion. Trading volumes haven’t been that low since Dec. 17, 2020, when bitcoin’s price first broke past $20,000. Meanwhile, Bitcoin accumulation is nearing record 800,000 addresses despite whale selling, while Bitcoin exchange withdrawals sink to a 7-month low.
According to The Block’s…
https://cryptoinsight.ae/daily-crypto-trading-falls-below-10-billion-while-bitcoin-accumulation-nears-a-new-record/
Website | Twitter | LinkedIn | Telegram
Bitcoin miner Argo Blockchain suspends Nasdaq trading
Bitcoin miner Argo Blockchain requested that trading be temporarily suspended on Nasdaq ahead of Wednesday’s open. The miner said two weeks ago that it was in “advanced negotiations with a third party” to sell certain assets to avoid filing for bankruptcy.
Argo Blockchain, the UK-based company, is also listed on the London Stock Exchange, which…
https://cryptoinsight.ae/bitcoin-miner-argo-blockchain-suspends-nasdaq-trading/
Website | Twitter | LinkedIn | Telegram
Bitcoin miner Argo Blockchain requested that trading be temporarily suspended on Nasdaq ahead of Wednesday’s open. The miner said two weeks ago that it was in “advanced negotiations with a third party” to sell certain assets to avoid filing for bankruptcy.
Argo Blockchain, the UK-based company, is also listed on the London Stock Exchange, which…
https://cryptoinsight.ae/bitcoin-miner-argo-blockchain-suspends-nasdaq-trading/
Website | Twitter | LinkedIn | Telegram
😺 The activity of holders of Tether (USDT) and USD Coin (USDC) stablecoins deployed on the Optimism Level 2 protocol has begun to increase.
👨💻 According to Santiment, the amount of transactions in these digital currencies with fiat collateral exceeded $1 billion.
Website | Twitter | LinkedIn | Telegram
👨💻 According to Santiment, the amount of transactions in these digital currencies with fiat collateral exceeded $1 billion.
Website | Twitter | LinkedIn | Telegram
📉 Over the past 12 months, the cryptocurrency market has lost $2.2 trillion. The total capitalization of the cryptocurrency market is now about $797 billion.
🧮 BTC with a total market value of over $320.5 billion is 40% of the market capitalization. ETH - with $144 billion - 18%.
Website | Twitter | LinkedIn | Telegram
🧮 BTC with a total market value of over $320.5 billion is 40% of the market capitalization. ETH - with $144 billion - 18%.
Website | Twitter | LinkedIn | Telegram
Summary of the day: December 28
🖼 According to analyst firm Nansen, trading volume with NFT on Ethereum in 2022 was $23.7 billion. Transaction volume ($1.6 billion) peaked in early May 2022, when Yuga Labs unveiled Otherside's meta-universe. The NFT collection Bored Ape Yacht Club had the highest turnover.
👨💻 IntoTheBlock analysts say Bitcoin and Ethereum are down 64% and 68%, respectively, in 2022. At the same time, the S&P500 and Nasdaq 100 indices fell in value by 19% and 32%, respectively.
🏟 U.S.-based cryptocurrency exchange Kraken said it has decided to cease operations in Japan.
📤 The transfer of cryptocurrencies by miners to exchanges fell to a four-year low. Now it is only 3.12 BTC per hour. In general, this situation suggests that sellers' pressure is weakening, and the market is approaching the local bottom.
🇰🇵 North Korean scammers have created over 190 NFT-themed websites to steal tokens. They focus on the Ethereum and Solana ecosystem NFT projects. NFT is hunted by distributing links to malicious websites using the NFT marketplaces OpenSea, Rarible, and X2Y2.
😺 The activity of holders of Tether (USDT) and USD Coin (USDC) stablecoins deployed on the Optimism Level 2 protocol has begun to increase. According to Santiment, the amount of transactions in these digital currencies with fiat collateral exceeded $1 billion.
🤑 Bankman-Fried admitted borrowing money from Alameda to buy Robinhood shares. The former FTX CEO, along with Gary Wang, set up the company to buy shares of the online brokerage. The $546.4 million in funds came from Alameda Research.
📉 Over the past 12 months, the cryptocurrency market has lost $2.2 trillion. The total capitalization of the cryptocurrency market is now about $797 billion. BTC with a total market value of over $320.5 billion is 40% of the market capitalization. ETH - with $144 billion - 18%
🇨🇳 China's central bank is trying to accelerate the introduction of digital yuan through gifts and invitations. For example, a gift menu has become available with electronic gift certificates in the form of red envelopes with digital money.
Website | Twitter | LinkedIn | Telegram
🖼 According to analyst firm Nansen, trading volume with NFT on Ethereum in 2022 was $23.7 billion. Transaction volume ($1.6 billion) peaked in early May 2022, when Yuga Labs unveiled Otherside's meta-universe. The NFT collection Bored Ape Yacht Club had the highest turnover.
👨💻 IntoTheBlock analysts say Bitcoin and Ethereum are down 64% and 68%, respectively, in 2022. At the same time, the S&P500 and Nasdaq 100 indices fell in value by 19% and 32%, respectively.
🏟 U.S.-based cryptocurrency exchange Kraken said it has decided to cease operations in Japan.
📤 The transfer of cryptocurrencies by miners to exchanges fell to a four-year low. Now it is only 3.12 BTC per hour. In general, this situation suggests that sellers' pressure is weakening, and the market is approaching the local bottom.
🇰🇵 North Korean scammers have created over 190 NFT-themed websites to steal tokens. They focus on the Ethereum and Solana ecosystem NFT projects. NFT is hunted by distributing links to malicious websites using the NFT marketplaces OpenSea, Rarible, and X2Y2.
😺 The activity of holders of Tether (USDT) and USD Coin (USDC) stablecoins deployed on the Optimism Level 2 protocol has begun to increase. According to Santiment, the amount of transactions in these digital currencies with fiat collateral exceeded $1 billion.
🤑 Bankman-Fried admitted borrowing money from Alameda to buy Robinhood shares. The former FTX CEO, along with Gary Wang, set up the company to buy shares of the online brokerage. The $546.4 million in funds came from Alameda Research.
📉 Over the past 12 months, the cryptocurrency market has lost $2.2 trillion. The total capitalization of the cryptocurrency market is now about $797 billion. BTC with a total market value of over $320.5 billion is 40% of the market capitalization. ETH - with $144 billion - 18%
🇨🇳 China's central bank is trying to accelerate the introduction of digital yuan through gifts and invitations. For example, a gift menu has become available with electronic gift certificates in the form of red envelopes with digital money.
Website | Twitter | LinkedIn | Telegram
Hello there!
Day started from:
The global cryptocurrency market cap today is $829 Billion, a -0.2% change in the last 24 hours
Bitcoin ~ $16,571.50 (-0.2%)
Ethereum ~ $1,194.82 (0.1%)
Solana ~ $9.70 (-2.6%)
Polkadot ~ $4.31 (-0.3%)
Flow ~ $0.682276 (-2.5%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram
Day started from:
The global cryptocurrency market cap today is $829 Billion, a -0.2% change in the last 24 hours
Bitcoin ~ $16,571.50 (-0.2%)
Ethereum ~ $1,194.82 (0.1%)
Solana ~ $9.70 (-2.6%)
Polkadot ~ $4.31 (-0.3%)
Flow ~ $0.682276 (-2.5%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram