The latest price moves in bitcoin [BTC] and crypto markets in context for Nov. 16, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Source
It has become increasingly clear that stablecoins have become the dominant means of transaction settlement on public blockchains, at the exclusion of native cryptoassets (like Bitcoin/Ether). This wasn’t in the plan of the architects of these blockchains or their communities. On-chain data supports this observation: Stablecoins represent approximately 10% of the total crypto market cap, but they account for around 70%-80% of transactional value settled on blockchains, according to data presented by Nic Carter at Token2049 (a crypto event in which our company was a sponsor of). While most metrics…
The same mission is also scheduled to carry a physical bitcoin token in an initiative planned by crypto exchange BitMEX, which was announced in May. It will also carry a copy of the Genesis Block, the first block of bitcoin (BTC) to be mined, commissioned by Bitcoin Magazine. Source
Additionally, more than 12 crypto companies are set to be fined for not complying with guidelines by a Nov. 17 deadline, Bloomberg said, citing anonymous sources who asked not to be identified because the matter is private. The names of the firms were not mentioned, but don’t include Binance, OKX or ByBit and some others, which will be given more time to comply, according to the report. In its email, VARA did not comment on the fines. Source
Philippines’ state-owned Development Bank of the Philippines and Land Bank of the Philippines serve as the issue managers for the tokenized treasury bonds. The Philippines aims to boost its domestic debt market by introducing tokenized treasury bonds, with an initial offering of at least 10 billion pesos ($179 million). This marks the country’s first foray into the issuance of tokenized bonds. However, the government retains flexibility in adjusting the issue size. The move aligns with the broader trend in Asia, where blockchain and tokenized securities are gaining traction for fundraising.…
Analysts believe the crypto market has turned the corner, with Bitcoin (BTC) leading the charge. Meanwhile, experts believe Polkadot (DOT) and Meme Moguls (MGLS) will rally in the days ahead. Bitcoin leading the crypto revival Bitcoin rallied to $37,900 in November, registering new 2023 highs. Catalyzing the upsurge was news around the Securities and Exchange Commission (SEC) approving the first spot Bitcoin ETF. The community expects the regulator to authorize at least one spot Bitcoin ETF before the end of 2023. Moreover, the fourth Bitcoin halving will be in April 2024. History…
Digital game vendor G2A has recently launched a marketplace for nonfungible tokens (NFTs) linked to Web3 games to expand its offerings by adding gaming NFTs to its wider collection of gaming software. According to a press release sent to Cointelegraph, the new venture launched on Nov. 15 is aimed at giving exposure to Web3 and NFT games that the G2A team has curated. With this, gamers will have the chance to see what blockchain gaming offers and be shown NFTs from games partnered with G2A. At @G2A_Geekverse we believe that…
Several members of the United States Congress have submitted a memo urging key financial authorities, including the chair of the board of the Federal Deposit Insurance Commission and the acting comptroller of the currency, to provide guidance or take action clarifying that the U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin 121 (SAB 121) is not enforceable following a recent Government Accountability Office (GAO) finding. In the memo, the Congress members stated that SAB 121 should have no legal effect and that the federal banking agencies and National Credit…
According to crypto analyst Ali Martinez, Cardano (ADA) is exhibiting a price consolidation pattern that is highly bullish. Drawing parallels to the consolidation phase of 2018-2020, Martinez points out that ADA’s current trend is a mirror image, albeit without the disastrous COVID-19 crash. “Cardano’s current consolidation trend eerily mirrors the 2018-2020 phase without the COVID-19 crash! If so, ADA could break through the $0.45 resistance around the first week of December. The upswing could send ADA to $0.75 by late December,” Martinez shared in a recent post on X. The…
Bitcoin has sparked a market-wide recovery campaign, leading to a 3.8% surge in the global crypto market cap and a spike in trade volume amid increased buying power. Remarkably, Bitcoin (BTC) recently came back against the bears to recover the losses of the last few days, resulting in a shift in market trends. The global crypto market cap is now back above the $1.4 trillion mark, up 4.44% over the past 24 hours to $1.43 trillion. Crypto market cap | Source: CoinMarketCap In addition, the market is witnessing a resurgence…