Day: December 29, 2021

Crypto mining reportedly rises in Thailand due to Chinese crypto ban

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Retail cryptocurrency mining in Thailand has apparently received a boost due to the capitulation of Chinese miners triggered by the country’s new crypto mega ban enforced in September. Thai entrepreneurs and cryptocurrency businesses have been increasingly capitalizing on Chinese miners getting rid of their crypto mining machines, Al Jazeera reported Wednesday. “The moment China banned crypto, we were ecstatic,” one Thai-based Bitcoin (BTC) enthusiast and turned miner said. The miner, who asked to remain anonymous, claimed to have set up a small solar-powered crypto mining unit for about $30,000. “I…

Bitcoin wallet addresses created in November inches toward a million

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Could retail investors be flocking back to Bitcoin (BTC)? In encouraging signs for a bullish 2022, Glassnode data reveals that 913,000 new BTC addresses were added from November to the start of December this year.  In a boon for BTC, on-chain analyst On-Chain College shared insightful data regarding retail adoption and the potential beginnings of broader adoption trends. The key takeaway to round off the year is that up to one million new entrants joined the Bitcoin network in November. Despite bearish price action in the short term, the Twitter…

A Record Breaking Year for Cryptocurrency

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2021 has been a busy, and at times chaotic, period for cryptocurrency ETFs in a year when Bitcoin prices have reached new record-breaking highs and when the Australian ETF industry showed no sign of slowing with a fresh market capitalisation of $126.9 billion being recorded in October. Innovators in the cryptocurrency space have been keen to see the ETF marketplace evolve for several years now, with the first application for a U.S. Bitcoin exchange-traded fund filed as far back as 2013. And, given the renewed level of interest in Bitcoin…

S&P Global Ratings Study Predicts Crypto and Decentralized Finance Will Continue to Grow in 2022. – Bitcoin News

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S&P Global, an intelligence and data company, suggests that crypto and decentralized finance trends will continue to gather steam in 2022. In its latest report, the company examines the current state of the market and notes that, while there are still serious problems that could hinder adoption, the sector will keep growing by complementing traditional finance in the coming year. S&P Global Believes Crypto Will Continue to Grow in 2022 A new report prepared by S&P Global, an intelligence gathering and data company, predicts that the cryptocurrency and…

Fantom Surges as Investors Seach for Next Layer 1 Bet

Wednesday’s move in FTM follows gains for tokens of other layer 1 blockchains. A basket of three leading Ethereum competitors, Solana, Terra and Avalanche – dubbed the SoLunAvax trade – has gained 400% since May. Some high-profile funds, such as Singapore-based Three Arrows Capital, have even cut back from investing in the Ethereum ecosystem to fuel bigger bets on products building on Avalanche instead. Source

‘Net neutral’ — Rising Bitcoin exchange balances could be due to Huobi Chinese user block

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Bitcoin (BTC) balances rising on exchanges may not be a sign of investors preparing to sell, new research argues.  Unveiling the latest data from across exchanges on Dec. 28, Glassnode on-chain analyst TXMC pointed the finger at fresh changes in China for rising balances elsewhere. Binance “absorbing” orphaned Huobi users The end of December is seeing nerves fray as a rangebound BTC price combines with increased inflows to exchanges. A classic indicator that traders are at least arming themselves to de-risk in the event of further price weakness, Binance has…

$2.5T crypto market will not wait for nations to onboard: WazirX CEO

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Indian entrepreneur and the CEO of crypto exchange WazirX Nischal Shetty envisions a race between countries to launch their local versions of central bank digital currencies (CBDC) in the coming year.  Speaking to Cointelegraph, Shetty said that the year 2022 would be an extension of the ongoing discussions around crypto regulations, exchange-traded funds (ETFs) and the emergence of the metaverse: “We’re optimistic that we’ll get regulatory clarity, see institutional participation fuel retail adoption. We also expect to see more metaverse projects making an entrance.” Shetty pointed out that the crypto…

New ProShares Metaverse ETF to track Apple, Meta, Nvidia

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ProShares, the first company in the United States to launch a Bitcoin (BTC) exchange-traded fund (ETF), is diving into metaverse as it now plans to launch a new metaverse-focused ETF. ProShares on Tuesday filed with the U.S. Securities and Exchange Commission (SEC) for an ETF focused on metaverse, called the ProShares Metaverse Theme ETF. Subject to approval by the SEC, the proposed ETF will track the performance of the Solactive Metaverse Theme Index (SOMETAV), consisting of firms providing or using metaverse-related technologies, including data processing and metaverse devices, the ETF…

Defi Portfolio Tracking Startup Debank Raises $25M From Sequoia China, Crypto.com, Circle – Finance Bitcoin News

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Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Original

Arcane Research releases its crypto predictions for 2022

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Blockchain data research firm Arcane Research has taken a look at the year that was in its final report for 2021 and offered its predictions for crypto markets going into 2022. Arcane’s Dec. 28 The Weekly Update report focuses on Bitcoin (BTC) and Ethereum (ETH) but delves into other major coins, decentralized finance (DeFi), meme coins, nonfungible tokens (NFT), derivatives, and others. Arcane offered a prediction for what would happen in 2022 on every topic covered in the report. “Bitcoin will outperform the S&P 500 in 2022.” The report noted…