Day: December 28, 2021

NFTs, a Short-lived Hype or the Definite Future of Art Ownership? – Blockchain News, Opinion, TV and Jobs

Non-Fungible tokens. The concept wouldn’t have rung any bells for most people just over a year ago, and yet, in 2021, NFTs broke out of infancy to become one of the hottest tech trends. On November 24, Collins Dictionary even named NFT its “Word of the Year”. Rightfully so, because the NFT trading volume hit $10.7 billion during the third quarter of 2021. NFTs, or non-fungible tokens, use a digital ledger to provide a public certificate of authenticity or proof of ownership, but do not restrict the sharing or copying…

DeFi sector tokens offer shelter as Bitcoin falls below $48.5K

boss

The cryptocurrency market slid lower on Dec. 28 as the price of Bitcoin (BTC) lost nearly $4,000 in value in a matter of hours with bulls now looking to secure support at $48,500 to prevent further losses.  In the midst of the market-wide drawdown, the decentralized finance (DeFi) sector of the crypto ecosystem has offered some traders shelter from the storm, with several tokens seeing gains in excess of 30%. Top 7 coins with the highest 24-hour price gains. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView…

Iran Banning Crypto Mining Until March 6 to Save Power: Report

Iran is banning authorized crypto mining in the country until March 6 in an attempt to save power and avoid blackouts this winter, according to a Bloomberg report. The move will free up 209 megawatts of power for use by the country’s households, according to  the director of state-run Iran Grid Management Co. Mostafa Rajabi Mashhadi, who was interviewed by state TV. The government is also cracking down on illegal mining by both individuals and larger operators, Mashahadi said, nothing that these groups consume more than 600 megawatts of electricity.…

Why Bitcoin Will Never Surpass The Market Cap Of Gold

boss

Bitcoin has been pitted against gold at various turns since the digital asset started going mainstream. Enthusiasts have finally settled on referring to the former as ‘digital gold’ while continuing to push that bitcoin will replace gold as the default store of value in the coming years. However, not all bitcoin supporters seem to share this school of thought despite the asset’s growth. Billionaire Ray Dalio is a supporter of bitcoin and has been vocal about his support for the digital asset at various times in the past, but it…

Tokenized Bitcoin in Circulation Nears a Half Million BTC, Bitcoin-Pegged Token Value Exceeds $21 Billion – Blockchain Bitcoin News

boss

According to data recorded on December 28, there’s approximately 434,265.43 bitcoin-pegged or wrapped bitcoin tokens worth more than $21.3 billion across several blockchains. Ten different bitcoin-pegged projects exist today and the project Wrapped Bitcoin dominates 59.66% of all the tokenized bitcoin in circulation. Close to a Half Million Tokenized Bitcoin Circulates on Several Blockchains, Wrapped Bitcoin Dominates by 59% Toward the end of 2018, when tokenization really started heating up in the crypto space, a number of different projects launched bitcoin-pegged token protocols. On January 30, 2018, Bitcoin.com News reported…

The 9 Minute Read That Could Change Your Life – Cointelegraph Magazine

boss

By now you’ve probably heard of Bitcoin. You may have heard that it’s made some people rich. You may also have heard that it’s a new form of digital money, and that it’s the future of commerce; or that it’s a criminal enterprise, and that it’s bad for the planet. The messaging is confused and confusing — which is partly because no one person controls it. Just like Bitcoin, which belongs to… well, all of us. In this short essay I want to help the Bitcoin-curious understand a few facts…

RBI Recommends India Implement Basic Version of CBDC

In a major step away from the RBI’s stance in the past towards anything cryptocurrency-related, the report says “In its basic form, a central bank digital currency (CBDC), provides a safe, robust, and convenient alternative to physical cash. In comparison with existing forms of money, it can offer benefits to users in terms of liquidity, scalability, acceptance, ease of transactions with anonymity and faster settlement.” Source

Bitcoin daily losses near $4K as S&P 500 hits 69th all-time high of 2021

boss

Bitcoin (BTC) dropped nearly $4,000 on Dec. 28 as the market offered a sharp reminder that the bull run would need to wait.  BTC analysts eyes $44,000 BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $48,335 on Bitstamp at Tuesday’s Wall Street open. The pair had passed $52,000 the previous day, this marking a three-week high, before pressure from sellers halted progress. At the time of writing, Bitcoin circled $49,000 as traders took the opportunity to remind audiences of Bitcoin’s…

What were the biggest crypto outcomes of 2021? Experts Answer, Part 1

boss

Hatu is the co-founder and chief strategy officer of DAO Maker, which creates growth technologies and funding frameworks for startups while simultaneously reducing risks for investors. “For a space as dynamic as blockchain, it is tough to pinpoint the reasons behind the industry evolving during the year. However, I feel the adoption of smart contracts has bolstered the growth of the industry and its relevance in the traditional setup. From optimizing supply chains to building a corporate structure around them, smart contracts are assisting everywhere. DAOs have emerged as a…