Month: January 2022

Bored Ape, Mutant Ape Yacht Club NFT Sales Skyrocket — Floor Prices Spike More Than 40% – Markets and Prices Bitcoin News

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After Eminem revealed that he purchased a Bored Ape Yacht Club (BAYC) non-fungible token (NFT) for $452K, both BAYC and Mutant Ape Yacht Club (MAYC) NFT sales have skyrocketed. Metrics indicate that on Sunday, January 2, 2022, MAYC’s seven-day trade volume of $93.02 million is up 93.41% and BAYC’s weekly volume of $78.26 million is up 150.97%. BAYC and MAYC Weekly Volumes Jump 93% to 150% Higher Bored Ape Yacht Club and Mutant Ape Yacht Club, are two particular NFT projects that have seen significant trade volume during the last…

40,000 member players guild raises $6M to make P2E gaming easier

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Play It Forward DAO (PIF DAO) has kicked off 2022 by announcing it has raised $6 million from private investors, only six months after launching. The DAO includes a guild of over 40,000 players and 3,000 scholars across the Philippines and Indonesia, all of which are managed via a play-to-earn (P2E) scholar management program. Currently, the DAO has players across several notable Metaverse P2E games, including Axie Infinity, Thetan Arena, Pegaxy, and Dragonary. Co-founder Cholo Maputol told Cointelegraph that the funds will be used to scale the DAO’s scholarship programs,…

More billionaires turning to crypto on fiat inflation fears

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Previously anti-crypto investors are increasingly turning to Bitcoin and its brethren as a hedge against fiat currency inflation concerns. One example is Hungarian-born billionaire Thomas Peterffy who, in a Jan. 1 Bloomberg report, said that it would be prudent to have 2-3% of one’s portfolio in crypto assets just in case fiat “goes to hell”. He is reportedly worth $25 billion. Peterffy’s firm, Interactive Brokers Group Inc., announced that it would be offering crypto trading to its clients in mid-2020 following increased demand for the asset class. The company currently…

Bitcoin Will Be Legal Tender in 2 More Countries This Year, El Salvador’s President Predicts – Featured Bitcoin News

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El Salvador’s president has made six predictions relating to bitcoin for 2022. He expects two more countries to adopt bitcoin as legal tender this year. Meanwhile, he expects El Salvador’s Bitcoin City to commence construction during the year and his country’s volcano bonds to be oversubscribed. Bitcoin Predictions 2022 by President Bukele The president of El Salvador, Nayib Bukele, tweeted on Jan. 1 his six predictions relating to bitcoin for the year 2022. El Salvador made bitcoin legal tender alongside the U.S. dollar in September last year. Firstly, President Bukele…

Wharton’s Professor Warns About Inflation, Predicts Many Rate Hikes, Says Bitcoin Has Replaced Gold for Millennials – Economics Bitcoin News

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A finance professor at the Wharton School of the University of Pennsylvania has warned about inflation and the Fed hiking rates many more times than the market expects. He also said that bitcoin has become the new gold for the millennials. Finance Professor on Bitcoin and Inflation Wharton’s finance professor Jeremy Siegel shared his outlook for various markets that he believes investors should have exposure to this year in an interview with CNBC Friday. Siegel is Russell E. Palmer Professor Emeritus of Finance at Wharton School, University of Pennsylvania. His…

Bitcoin Rides $46K-$48K Weekend Tide After ‘Crypto Witching Day’

On Friday, about 115,000 bitcoin options and roughly 882,000 ether options contracts, worth a total notional value of $8.67 billion, expired, according to Cayman Islands-based crypto financial services firm Blofin. After the settlement was completed, bitcoin’s price briefly went up sharply to above $48,000 on some exchanges, crypto trading data platform aICoin tweeted on Dec. 31. Source

Billionaire Ray Dalio Insists Governments Could Outlaw Bitcoin – Regulation Bitcoin News

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Billionaire Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, has reiterated his warning that governments could outlaw bitcoin. “In history, they’ve outlawed gold and they’ve outlawed silver and so on, and they could outlaw bitcoin,” he stressed. Ray Dalio Continues to Warn About Governments Outlawing Cryptocurrency Bridgewater Associates founder Ray Dalio talked about bitcoin as he reiterated his warning that governments could outlaw the cryptocurrency on the Investor’s Podcast Network, published Saturday. Dalio currently serves as Bridgewater Associates’ chairman and co-chief investment officer. His firm’s clients…

Power Outages in Russia’s Irkutsk Region Blamed on Home Miners – Mining Bitcoin News

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Russians mining cryptocurrency in their homes have been blamed for the problems with the electricity supply in Irkutsk. Power outages have become a frequent occurrence in the region which maintains the lowest electricity rates in Russia. Subsidized household energy has turned mining into a source of income for many locals. Electricity Consumption Spikes Amid Spread of Home Crypto Mining in Irkutsk Power grid operators in Irkutsk have been dealing with a growing number of outages. The region and the city are experiencing a tangible increase in electricity consumption that overloads…

Unlocking utility is key for fashion brands launching NFTs in 2022

Nonfungible tokens, or NFTs, have become one of the most discussed markets in the crypto space this year. A recent report from Cryptox Research found that NFT sales are aiming for a $17.7 billion record by the end of 2021.  This may very well be the case, as a number of mainstream brands have begun launching NFTs. According to recent research from Bain & Company and the online luxury fashion platform Farfetch, digital interactions with consumers are becoming increasingly important for brands. The report specifically states that “digital interaction with…

Bitcoin’s Hashrate Taps New Lifetime High, Mining Difficulty Nears ATH – Mining Bitcoin News

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Bitcoin’s hashrate tapped a lifetime high on the first day of 2022 reaching 209.39 exahash per second (EH/s). During the last 12 months, Bitcoin’s hashrate has increased by 47.92% from the 141.55 EH/s recorded on January 3, 2021. Bitcoin’s Hashpower Reaches a New Milestone The processing power and security dedicated to the Bitcoin (BTC) network has never been higher, and the network tapped a milestone in 2022. According to the one-year hashrate chart hosted on coinwarz.com, BTC’s hashrate tapped a high of 209.39 EH/s on January 1, 2022. At the…