Day: December 27, 2022

The Top Cryptos That Are Going to Fly This New Year: Snowfall Protocol (SNW), Polygon (MATIC), and Cardano (ADA)

Place/Date: – December 27th, 2022 at 11:17 am UTC · 3 min read Source: Snowfall Protocol Photo: Snowfall Protocol With the new year approaching, it is time to weigh in on your investments. Many cryptos are continuously bleeding out investor money. However, some cryptocurrencies like Snowfall Protocol (SNW), Polygon (MATIC), and Cardano are almost guaranteed to add value to the investor portfolio in 2023. So, does your portfolio hold winners or not? Find out why you should HODL Polygon, Cardano, or Snowfall Protocol (SNW). Polygon (MATIC) Polygon (MATIC) offers an…

China-Based Funeral Company Shares Surge 80% Since November amid Spike in Covid Cases

China funeral facilitator Fu Shou Yuan saw its shares recently rally to 7.04 Hong Kong dollars after being down 40%.  The shares of a China-based funeral company recently surged to a new yearly high following a marked rise in Covid infections. According to a CNBC report, Fu Shou Yuan International Group stock was trading at 7.04 Hong Kong dollars a pop late Friday. This rally represents an 80% increase in just two months and comes amid a new wave of Covid infections in China. After being down approximately 40% year-to-date in…

Italy NFT Market Goes Wild, Upward Projection till 2028

The NFT buzz went beyond the art industry to reach the Italian fashion space. Italy is reportedly looking to develop the crypto art renaissance through its non-fungible token (NFT) market. As one of the cultural hubs in Europe, the country is grounded in culture, history, and art. Citing Q2 2022 NFT Survey, data from Research and Markets “Italy NFT Market Intelligence and Future Growth Dynamics Databook” states the expected growth for the NFT market. Data projected the industry to surge 47.6% on an annual basis. With this projection, the NFT…

Institutional Predictions for 2023: Ethereum, BTC, L2s, NFTs

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No less than three renowned crypto institutions have recently given their predictions for the coming year 2023 – and there seems to be one favorite: Ethereum. Other main themes for Coinbase, Darma Capital, and Cumberland include the migration of investors to quality projects, the burgeoning innovation from creative destruction, and some fundamental reforms for the crypto industry as a whole. The largest U.S. cryptocurrency exchange, Coinbase, estimates that crypto markets will not yet decouple from traditional financial markets in early 2023, with investors focusing on quality projects with sustainable tokenomics…

Fidelity Investments Files Trademark Applications to Expand Its Crypto Footprint

Investing in the digital currency ecosystem has been considered a major gamble by most multinationals. American multinational financial services giant, Fidelity Investments has filed trademark applications to offer services in the alternate reality that will include the metaverse. As reported by The Block citing the company’s trademark filings, the firm hopes to expand its footprint in the Web 3.0 world with three major trademark applications. The trademark filing by Fidelity mentions the creation of Non-Fungible Tokens (NFTs) as well as NFT Marketplaces as part of its intended crypto offerings. In…

Bitcoin Mining Pool BTC.com Faces Cyberattack and $3 Million Loss of Funds

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BIT Mining has reported this incident to authorities in Shenzhen, China, who are investigating the incident and collecting more evidence. BTC.com, one of the largest crypto mining pools, suffered a major cyberattack which resulted in a significant loss of customer funds. Parent firm BIT Mining Limited made the announcement on Monday, December 26. Bitcoin Mining Pool and Recent Cyberattack As reported by BIT Mining, the attack took place earlier this month on December 3 with the attackers stealing around $700,000 in client assets and a staggering $2.3 million in company…

Nexo Terminates Vauld Acquisition Deal Ending Six-Month-Long Discussions

Swiss crypto lender Nexo recently terminated its acquisition deal with embattled Singaporean crypto lender Vauld. Nexo has ended discussions with rival crypto lender Vauld regarding a potential acquisition deal. According to new reports, Nexo opted out of potentially acquiring the troubled crypto lender after six months of dialogue. Both parties had been in discussions since early July. The opportunity for Nexo to acquire Vauld initially came after Vauld suspended client withdrawals in early July due to a severe liquidity crunch. Vauld also hired legal and financial advisors to provide potential…

Crypto OTC trading to get traction due to FTX fiasco, exec says

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Before the rise of centralized exchanges (CEXs), over-the-counter (OTC) trading was the go-to method to buy or sell cryptocurrency for many crypto investors. The FTX collapse could trigger a bigger demand for crypto OTC services as investors are looking for alternative methods to convert from and to fiat due to weaker trust in CEXs. Cointelegraph spoke with BestChange, a Russian OTC crypto exchange aggregator, to learn more about the current state of OTC markets. “The role of OTC is sometimes underestimated amid the all-encompassing marketing of centralized exchanges,” BestChange chief…