Day: December 22, 2021

Bitcoin holds off on Santa rally as fund forecasts a new year ‘short squeeze’

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Bitcoin (BTC) stayed rangebound after hitting ten-day highs on Dec. 22 amid fresh warnings over market “complacency.” BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView How about a new year squeeze? Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it consolidated after coming within $400 of $50,000 overnight. Bulls were up against a significant sell wall around the psychologically significant level, with analysts calling for $50,500 to hit and hold in order to flip positive on short timeframes. “Today the seas will be parted making way for a shot at…

Dapper, CoinFund Back ‘SPACE’ Metaverse Play With $7M Raise

SPACE Metaverse, a virtual world for arts and commerce, has raised $7 million from investors including Dapper Labs, CoinFund, Animoca Brands and more. The funding will be used to build and join various metaverses into one parallel society and “build the economic backbone of the metaverse,” according to a press release. Other notable investors included investment firm Hof Capital and Digital Currency Group (DCG), which also owns CoinDesk. SPACE said it has now come out of stealth mode and launched an early access alpha version with over 10,000 users. The…

Is mass adoption here? Experts Answer, Part 2

Sameep is the founder of QuickSwap, a decentralized exchange on Polygon that allows users to swap, earn, stack yields, lend, borrow and leverage, all on one decentralized, community-driven platform. “My answer here will be similar to the last one. Absolutely — in 2020 and 2021, DeFi experienced mass growth. More and more people realized the importance of having their money work for them. Institutions and retail investors started staking their crypto to earn more of it, but as more people (and bots) started using various blockchain networks, those networks became…

China’s Xinhua News Agency to Issue NFTs Despite Crackdown on Crypto – News Bitcoin News

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Xinhua, the official news agency of China, is going to issue an NFT collection with photographs depicting historic moments of the passing year. The initiative, which comes amid an ongoing crypto crackdown, is seen as a boost for blockchain, the technology that also underpins cryptocurrencies. Xinhua to Create Digital Collectibles Based on Photo Reports The state-owned Chinese news agency Xinhua is preparing to issue a digital collection representing photographic news reports from 2021. The selection of 11 photos, each limited to 10,000 copies, will be released on Dec. 24. They…

Building a Secure Crypto Infrastructure for Institutional Investors

Institutional investments in digital assets continue to surge, reflecting the confidence that the largest investors have in the strength and security of the crypto market infrastructure today. This growing institutional base requires continued investment in security infrastructure to protect the large amount of capital deployed in the crypto markets. Moreover, whereas most players in the traditional banking sector can sign up to secure and centralized transaction systems such as SWIFT, there are no equivalent systems for cryptocurrencies. This means the security features of each individual firm holding an investor’s digital…

Pakistanis have $20B in crypto assets, says head of local association

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Nasir Hayat Magoon, The President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has stated that Pakistani citizens have a combined crypto assets value of $20 billion. During a news conference, the FPCCI president said that Pakistanis’ digital currency valuations are based on the chamber’s research paper, as per a local report. He urged the government to implement a cryptocurrency policy, pointing out that India has implemented some restrictions in this field, the report adds. In October, a study published by Chainalysis revealed that Pakistan had experienced a…

The Year of Institutional Bitcoin, Feat. Galaxy’s Alex Thorn

This episode is sponsored by NYDIG. Download this episode On this edition of “The Breakdown’s” “End of Year Extravaganza,” Galaxy Digital’s head of firmwide research discusses the key trends that shaped 2021. Find our guest on Twitter: @intangiblecoins See also: Galaxy, Bloomberg Debut Solana Fund for Institutional Investors “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our holiday theme music is “Spike…