Arcade says it currently has more than $15 million locked up in blue chip NFTs and $6 million in loan volume, with average loans being around $350,000, a representative told CoinDesk. (Blue chip NFTs are considered to be those among the highest valued in the market, like Bored Ape Yacht Club, CryptoPunks or Doodles.) Source
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Bitcoin at $500,000 is a trend that is growing more popular among large investors. Stakeholders in the crypto space like Cathie Wood have expressed that they believed the digital asset could make the half a million-dollar point. Naturally, they do not expect this to happen in one or two years but do believe that it is an inevitable end for the pioneer cryptocurrency. Anthony Scaramucci, the famed CEO of SkyBridge Capital, has revealed that he, too, shares this forecast for the cryptocurrency. Scaramucci gives his reasons and timeline for this…
Fiat-backed stablecoins, for instance, are popular because they are as stable as the U.S. dollar (USD) or other widely accepted currencies. However, linking crypto to a federal currency makes fiat-backed cryptos a target for governmental regulation and overall more centralized – a certain trade-off when compared with algorithmic stablecoins, the most decentralized option. Source
CryptoX – Cryptocurrency Analysis and News Portal Fiat-backed stablecoins, for instance, are popular because they are as stable as the U.S. dollar (USD) or other widely accepted currencies. However, linking crypto to a federal currency makes fiat-backed cryptos a target for governmental regulation and overall more centralized – a certain trade-off when compared with algorithmic stablecoins, the most decentralized option. Original Source The post What’s the Point of Stablecoins? Understanding Why They Exist appeared first on CryptoX. CryptoX Portal
El Salvador’s president, Nayib Bukele, believes that it’s just a matter of time before bitcoin sees a “gigantic price increase.” Bukele stressed on Twitter that bitcoin is extremely scarce and there’s not enough bitcoin in the world for all today’s millionaires. Salvadoran President Says Best Time to Buy Bitcoin ‘Is When the Price Is Down’ as IMF Warns Nayib Bukele’s Government The Salvadoran bureaucrat, businessman, and the 43rd president of El Salvador, Nayib Bukele, is a big believer in the value of bitcoin (BTC). El Salvador and Bukele’s government are…
Thailand has axed plans to levy a 15% withholding tax on cryptocurrency transactions following pushback from the country’s crypto traders. Earned income on crypto trading or mining can be reported as capital gains on income taxes, tax officials said on Monday, according to a Financial Times report. The new rules would allow traders to offset their losses against gains made in the same year. Thailand’s Revenue Department previously had plans to strengthen its oversight of cryptocurrency trading following significant growth in the size and value of the market in 2021.…
At present, El Salvador now has about 1,800 Bitcoins which it purchased at an average price of $36,585 per BTC. There is hardly a Bitcoin (BTC) investor that is more bullish than Nayib Bukele, the president of El Salvador who now foresees massive price growth for the premier digital currency. The vocal politician took to Twitter today to express his trust for Bitcoin, and its inherent potential is borne out of its capped supply. According to Bukele, there are as many as 50 million millionaires in the world when compared…
A report forecasts that the gaming market, including deals, and fundraising exercises, will amount to more than $150 billion in 2022. According to investment banking firm Drake Star Partners, the video gaming sector will hit a market valuation of over $150 billion in 2022. This will encompass deals, financing, and initial public offerings, the forecast added. The gaming sector began this year with two mega acquisitions. The first one was Microsoft Corp (NASDAQ: MSFT), pitching almost $70 billion for video game giant Activision Blizzard (NASDAQ: ATVI). There was also an $11 million bid from video game…
Bitcoin (BTC) received a welcome boost at the Wall Street open on Jan. 31 as fresh research painted a gloomy picture for near-term price action. BTC/USD 1-month candle chart (Bitstamp). Source: TradingView Trader “not interested” in longs below $38,500 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing toward $38,000 on Monday, reversing a correction that had set in immediately after Jan. 30’s weekly close. With stocks giving some relief to bulls, many analysts remained hands-off on Bitcoin while higher levels nearer $40,000 remained unchallenged. “Bitcoin chopping around and fighting…