Summary of the day: December 29
π§π· 50% of Brazilian real transactions involve stablecoins. By comparison, only 5% of U.S. dollars are tied to stable coins. Brazilians have to turn to stablecoins to peg their savings to the U.S. dollar. BUSD and USDT are especially popular with Brazilians.
π Former FTX customers have filed a class action lawsuit against the bankrupt crypto exchange and its top executives, including Sam Bankman-Fried. They demand priority repayment rights and first to receive payments to any non-customer creditors.
π¨π³ China will launch the first national NFT-marketplace, it will be built on the blockchain China Cultural Protection Chain, which is controlled by the state. The marketplace will be regulated by organizations: China Technology Exchange, Art Exhibitions China and Huban Digital.
π Bitcoin is becoming less and less decentralized. For example, more than 70% of all recently mined blocks come from just the three largest mining pools - Foundry, AntPool and F2Pool.
π Investors will sue the cryptocurrency exchange Gemini. The platform is accused of fraud and destruction of capital of investors who took part in the EARN program. Recall that it allowed them to earn 8% per annum on lending their assets to borrowers.
β Already mined 92% of all BTC.
β‘οΈMichael Saylor announced the launch of MicroStrategy's new Bitcoin Lightning-focused products. "Our goal is to create a tool that allows any company to deploy a Lightning network in half a day. It will be integrated into the enterprise technology space," he explained.
π»πͺ Banks in Venezuela have begun identifying and blocking accounts that are linked to cryptocurrency platforms at the behest of the authorities. Legalrocks, a local law firm, reported that it had recorded more than 75 cases of accounts linked to cryptocurrencies being suspended.
π·πΊ A draft law on the creation of the digital ruble in Russia has been submitted to the country's parliament. The Central Bank of Russia plans to start testing the digital ruble on real customers from April 2023.
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π§π· 50% of Brazilian real transactions involve stablecoins. By comparison, only 5% of U.S. dollars are tied to stable coins. Brazilians have to turn to stablecoins to peg their savings to the U.S. dollar. BUSD and USDT are especially popular with Brazilians.
π Former FTX customers have filed a class action lawsuit against the bankrupt crypto exchange and its top executives, including Sam Bankman-Fried. They demand priority repayment rights and first to receive payments to any non-customer creditors.
π¨π³ China will launch the first national NFT-marketplace, it will be built on the blockchain China Cultural Protection Chain, which is controlled by the state. The marketplace will be regulated by organizations: China Technology Exchange, Art Exhibitions China and Huban Digital.
π Bitcoin is becoming less and less decentralized. For example, more than 70% of all recently mined blocks come from just the three largest mining pools - Foundry, AntPool and F2Pool.
π Investors will sue the cryptocurrency exchange Gemini. The platform is accused of fraud and destruction of capital of investors who took part in the EARN program. Recall that it allowed them to earn 8% per annum on lending their assets to borrowers.
β Already mined 92% of all BTC.
β‘οΈMichael Saylor announced the launch of MicroStrategy's new Bitcoin Lightning-focused products. "Our goal is to create a tool that allows any company to deploy a Lightning network in half a day. It will be integrated into the enterprise technology space," he explained.
π»πͺ Banks in Venezuela have begun identifying and blocking accounts that are linked to cryptocurrency platforms at the behest of the authorities. Legalrocks, a local law firm, reported that it had recorded more than 75 cases of accounts linked to cryptocurrencies being suspended.
π·πΊ A draft law on the creation of the digital ruble in Russia has been submitted to the country's parliament. The Central Bank of Russia plans to start testing the digital ruble on real customers from April 2023.
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Hello there!
Day started from:
The global cryptocurrency market cap today is $827 Billion, a -0.2% change in the last 24 hours
Bitcoin ~ $16,560.73 (-0.1%)
Ethereum ~ $1,194.53 (-0.0%)
Solana ~ $9.41 (-2.9%)
Polkadot ~ $4.27 (-0.9%)
Flow ~ $0.658367 (-3.4%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram
Day started from:
The global cryptocurrency market cap today is $827 Billion, a -0.2% change in the last 24 hours
Bitcoin ~ $16,560.73 (-0.1%)
Ethereum ~ $1,194.53 (-0.0%)
Solana ~ $9.41 (-2.9%)
Polkadot ~ $4.27 (-0.9%)
Flow ~ $0.658367 (-3.4%)
Follow and subscribe - @GulfCryptoInsight
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π₯΅ The number of cryptocurrency thefts this year has reached 190. This is 44% more than in 2021, when 132 cases of cryptocurrency theft were recorded, and an absolute record in the time of keeping statistics.
π¬ The year 2022 also set a record for the amount of money stolen.
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π¬ The year 2022 also set a record for the amount of money stolen.
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πΉπ· The Central Bank of the Republic of Turkey (CBRT) has reported on the successful completion of the first phase of testing of the national digital currency.
π The regulator was satisfied with the results, and the next year the work on the integration of CBDC will continue.
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π The regulator was satisfied with the results, and the next year the work on the integration of CBDC will continue.
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Summary of the day: December 30
π Daily trading volume of cryptocurrencies fell below $10 billion.
π₯΅ The number of cryptocurrency thefts this year has reached 190. This is 44% more than in 2021, when 132 cases of cryptocurrency theft were recorded, and an absolute record in the time of keeping statistics. The year 2022 also set a record for the amount of money stolen.
π«π― Fiji's newly elected Prime Minister Sitiveni Rabuka is a Bitcoin supporter and is reportedly considering introducing a bill to accept BTC as legal tender in the country.
πΉπ· The Central Bank of the Republic of Turkey (CBRT) has reported on the successful completion of the first phase of testing of the national digital currency. The regulator was satisfied with the results, and the next year the work on the integration of CBDC will continue.
π SΠΎlana was the leader of the fall among the TOP-20 coins. Over the past week, the coin's value declined by 23%. Since November 2021, the value of SOL has fallen by almost 98%.
π BTC and ETH declined slightly over the past 24 hours, but Dogecoin became the leader among the top 10 cryptocurrencies. The rate of meme coin in the last 24 hours decreased by 3.63% to $0.06813. During the week DOGE fell by 12.79%.
π QCP Capital believes that in 2023, the U.S. Federal Reserve will continue to put significant pressure on stock markets. Consequently, digital currencies will also come under severe pressure if the U.S. regulator decides to raise interest rates again.
π Cryptocurrency exchange Binance announced the introduction of TRON network support for the BUSD platform's native stablecoin. BUSD is now supported in Ethereum, BNB Chain, Avalanche, Polygon and TRON networks.
Website | Twitter | LinkedIn | Telegram
π Daily trading volume of cryptocurrencies fell below $10 billion.
π₯΅ The number of cryptocurrency thefts this year has reached 190. This is 44% more than in 2021, when 132 cases of cryptocurrency theft were recorded, and an absolute record in the time of keeping statistics. The year 2022 also set a record for the amount of money stolen.
π«π― Fiji's newly elected Prime Minister Sitiveni Rabuka is a Bitcoin supporter and is reportedly considering introducing a bill to accept BTC as legal tender in the country.
πΉπ· The Central Bank of the Republic of Turkey (CBRT) has reported on the successful completion of the first phase of testing of the national digital currency. The regulator was satisfied with the results, and the next year the work on the integration of CBDC will continue.
π SΠΎlana was the leader of the fall among the TOP-20 coins. Over the past week, the coin's value declined by 23%. Since November 2021, the value of SOL has fallen by almost 98%.
π BTC and ETH declined slightly over the past 24 hours, but Dogecoin became the leader among the top 10 cryptocurrencies. The rate of meme coin in the last 24 hours decreased by 3.63% to $0.06813. During the week DOGE fell by 12.79%.
π QCP Capital believes that in 2023, the U.S. Federal Reserve will continue to put significant pressure on stock markets. Consequently, digital currencies will also come under severe pressure if the U.S. regulator decides to raise interest rates again.
π Cryptocurrency exchange Binance announced the introduction of TRON network support for the BUSD platform's native stablecoin. BUSD is now supported in Ethereum, BNB Chain, Avalanche, Polygon and TRON networks.
Website | Twitter | LinkedIn | Telegram
Hello there!
Day started from:
The global cryptocurrency market cap today is $827 Billion, a -0.1% change in the last 24 hours
Bitcoin ~ $16,552.98 (0.0%)
Ethereum ~ $1,194.79 (0.1%)
Solana ~ $9.77 (4.0%)
Polkadot ~ $4.32 (1.2%)
Flow ~ $0.653125 (-0.7%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram
Day started from:
The global cryptocurrency market cap today is $827 Billion, a -0.1% change in the last 24 hours
Bitcoin ~ $16,552.98 (0.0%)
Ethereum ~ $1,194.79 (0.1%)
Solana ~ $9.77 (4.0%)
Polkadot ~ $4.32 (1.2%)
Flow ~ $0.653125 (-0.7%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram
The most expensive NFT sales of 2022
Most of the top NFT sales this year are from Yuga Labs collections. Sales of NFTs with rare traits have meant there are some outliers, but most purchases were made toward the beginning of the year, notes Callan Quinn on The Block.
Itβs been a tough year for NFTs. Things started well. January this yearβ¦
https://cryptoinsight.ae/the-most-expensive-nft-sales-of-2022/
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Most of the top NFT sales this year are from Yuga Labs collections. Sales of NFTs with rare traits have meant there are some outliers, but most purchases were made toward the beginning of the year, notes Callan Quinn on The Block.
Itβs been a tough year for NFTs. Things started well. January this yearβ¦
https://cryptoinsight.ae/the-most-expensive-nft-sales-of-2022/
Website | Twitter | LinkedIn | Telegram
Binance adds support for Apple Pay and Google Pay to buy crypto
Binance, the worldβs largest crypto exchange, has added support for popular payment platforms Apple Pay and Google Pay. This move is set to boost the adoption of cryptocurrencies amid the crypto winter. Users can now buy crypto on Binance and pay through popular payment services.
Binance, a popular crypto exchange platform, has added support forβ¦
https://cryptoinsight.ae/binance-adds-support-for-apple-pay-and-google-pay-to-buy-crypto/
Website | Twitter | LinkedIn | Telegram
Binance, the worldβs largest crypto exchange, has added support for popular payment platforms Apple Pay and Google Pay. This move is set to boost the adoption of cryptocurrencies amid the crypto winter. Users can now buy crypto on Binance and pay through popular payment services.
Binance, a popular crypto exchange platform, has added support forβ¦
https://cryptoinsight.ae/binance-adds-support-for-apple-pay-and-google-pay-to-buy-crypto/
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Will the next "crypto spring" be on the wreckage of the familiar world?
The tectonic plates of geopolitics began their active movement in 2022. War, numerous economic sanctions, rampant inflation, ups and downs in commodity prices, climatic disasters... Everything indicates today that the globalization that has lasted for decades has come to an end. Right now there is a geopolitical split that will have enormous implications for capital and investment markets in 2023.
That's the view of Jared Gross, head of institutional portfolio strategy at JPMorgan Asset Management. He believes that the "de-globalization" trend started before the pandemic and Russia's attack on Ukraine. And it is hard to disagree with him - indeed, the importance of regional economies began to grow even earlier, when in 2015-2016 the U.S. and European authorities began taking the first steps to bring back home the industrial production previously relocated to China.
But now events are unfolding at a very rapid pace. The world began to split before our eyes into geopolitical blocs - "authoritarian" (China, Russia and their satellites), "democratic" (North America, Europe, Japan and Australia), "independent" (India, Brazil and most other countries). All of these blocs reinforce their own political ambitions by modifying financial systems.
For example, members of the "authoritarian" bloc are carefully removing the U.S. dollar and the euro from international settlements between them - they are trying to replace them with their own currencies, primarily the yuan (and here the digital yuan came in handy). The "democratic" bloc, on the contrary, gives preference to the dollar and the euro and tries not to take any other currencies in reserves (except for the pound sterling and the Swiss franc).
I would venture to guess that this disengagement is a very long-term one. At least for the next decade, the world will spend in bitterness, on the brink of a world war, diligently severing economic ties between large geopolitical blocs - and, conversely, strengthening those ties within such blocs.
This could be the time of great new demand for cryptocurrencies. They will become a "universal language" of financial communication between people and businesses belonging to different blocks. Because it is still impossible to completely "stifle" economic interaction. And if transactions of fiat money are prohibited (an example is settlements with Russia or Belarus now), people inevitably start looking for workarounds. The use of cryptocurrency is the most obvious of these ways.
In fact, we have now begun a rapid plunge into another economic crisis. So it's appropriate to remember that cryptocurrencies themselves were a product of the previous crisis - 2007-2008. Satoshi Nakamoto created Bitcoin so that people and businesses would not depend on governments and banks for their financial affairs. It is likely that just now, when the world is "closing down" again, this original essence of cryptocurrencies will be in demand. And not their speculative component, which dominated the last five years.
Website | Twitter | LinkedIn | Telegram
The tectonic plates of geopolitics began their active movement in 2022. War, numerous economic sanctions, rampant inflation, ups and downs in commodity prices, climatic disasters... Everything indicates today that the globalization that has lasted for decades has come to an end. Right now there is a geopolitical split that will have enormous implications for capital and investment markets in 2023.
That's the view of Jared Gross, head of institutional portfolio strategy at JPMorgan Asset Management. He believes that the "de-globalization" trend started before the pandemic and Russia's attack on Ukraine. And it is hard to disagree with him - indeed, the importance of regional economies began to grow even earlier, when in 2015-2016 the U.S. and European authorities began taking the first steps to bring back home the industrial production previously relocated to China.
But now events are unfolding at a very rapid pace. The world began to split before our eyes into geopolitical blocs - "authoritarian" (China, Russia and their satellites), "democratic" (North America, Europe, Japan and Australia), "independent" (India, Brazil and most other countries). All of these blocs reinforce their own political ambitions by modifying financial systems.
For example, members of the "authoritarian" bloc are carefully removing the U.S. dollar and the euro from international settlements between them - they are trying to replace them with their own currencies, primarily the yuan (and here the digital yuan came in handy). The "democratic" bloc, on the contrary, gives preference to the dollar and the euro and tries not to take any other currencies in reserves (except for the pound sterling and the Swiss franc).
I would venture to guess that this disengagement is a very long-term one. At least for the next decade, the world will spend in bitterness, on the brink of a world war, diligently severing economic ties between large geopolitical blocs - and, conversely, strengthening those ties within such blocs.
This could be the time of great new demand for cryptocurrencies. They will become a "universal language" of financial communication between people and businesses belonging to different blocks. Because it is still impossible to completely "stifle" economic interaction. And if transactions of fiat money are prohibited (an example is settlements with Russia or Belarus now), people inevitably start looking for workarounds. The use of cryptocurrency is the most obvious of these ways.
In fact, we have now begun a rapid plunge into another economic crisis. So it's appropriate to remember that cryptocurrencies themselves were a product of the previous crisis - 2007-2008. Satoshi Nakamoto created Bitcoin so that people and businesses would not depend on governments and banks for their financial affairs. It is likely that just now, when the world is "closing down" again, this original essence of cryptocurrencies will be in demand. And not their speculative component, which dominated the last five years.
Website | Twitter | LinkedIn | Telegram
π On the last day of the outgoing year, the cryptocurrency market is on the plus side, with most altcoins growing.
π§πΌβπ» BTC is now trading above $16,500, ETH is trading around $1,150. Bitcoin dominance: 42.15%; Fear and Greed Index: 25 (extreme fear); market capitalization: $755b.
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π§πΌβπ» BTC is now trading above $16,500, ETH is trading around $1,150. Bitcoin dominance: 42.15%; Fear and Greed Index: 25 (extreme fear); market capitalization: $755b.
Website | Twitter | LinkedIn | Telegram
πββοΈ According to the Financial Times, stock and bond markets around the world lost more than $30 trillion in 2022, the largest amount since the global financial crisis in 2008. π Against this backdrop, the $2 trillion lost by cryptocurrencies does not seem like such a large sum.
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Website | Twitter | LinkedIn | Telegram
Hello there!
Day started from:
The global cryptocurrency market cap today is $828 Billion, a 0.1% change in the last 24 hours
Bitcoin ~ $16,547.75 (-0.1%)
Ethereum ~ $1,195.00 (-0.0%)
Solana ~ $9.82 (0.5%)
Polkadot ~ $4.30 (-0.6%)
Flow ~ $0.649245 (-0.7%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram
Day started from:
The global cryptocurrency market cap today is $828 Billion, a 0.1% change in the last 24 hours
Bitcoin ~ $16,547.75 (-0.1%)
Ethereum ~ $1,195.00 (-0.0%)
Solana ~ $9.82 (0.5%)
Polkadot ~ $4.30 (-0.6%)
Flow ~ $0.649245 (-0.7%)
Follow and subscribe - @GulfCryptoInsight
Website | Twitter | LinkedIn | Telegram