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Crypto makes history in 2022: Five instances of governments embracing digital assets
The year 2022 wasn’t the best one in terms of crypto reputation among regulators and policymakers. However, even amid the market breakdown and repetitive public attacks on the industry, some of the officials found the courage to embrace the innovation. Some of the names are not new, while others showed progress significant enough to include them in this listicle. The United Arab Emirates and El Salvador continued to push their crypto agenda and the United Kingdom showed great effort to lay the regulatory foundation, while Brazil and the Central African Republic legally recognized the cryptocurrencies. Brazil 2021 might have been a year of mass adoption in Brazil, but it was 2022 when the country finally got its own regulatory framework. Before leaving his office, Jair Bolsonaro, the ...
Rewind 2022: A crypto roundup of the year and stepping into 2023
Stepping into the year 2023, it’s time to pause and reflect on the accomplishments and struggles the global crypto community witnessed over the last 365 days. Starting from the very beginning of 2022, no investment strategy could help recover the falling portfolios across traditional and crypto ecosystems. January 2022 inherited a slightly collapsing market, wherein investments made on 2021 all-time high prices resulted in immediate losses. For many, especially the new entrants, falling crypto prices were perceived as an end game. But what went widely unnoticed was the community’s resilience and accomplishments against a global recession, orchestrated attacks and scams and an unforgiving bear market. As a result of falling prices, 2022 also inherited the 2021 hype around nonfun...
3 ways crypto derivatives could evolve and impact the market in 2023
Futures and options let traders put down only a tiny portion of a trade’s value and bet that prices will go up or down to a certain point within a certain period. It can make traders’ profits bigger because they can borrow more money to add to their positions, but it can also boost their losses much if the market moves against them. Even though the market for crypto derivatives is growing, the instruments and infrastructure that support it are not as developed as those in traditional financial markets. Next year will be the year that crypto derivatives reach a new level of growth and market maturity because the infrastructure has been built and improved this ye, and an increasing number of institutions are getting involved. Crypto derivatives’ growth in 2023 In 2023, the volume...
These 4 altcoins may attract buyers with Bitcoin stagnating
Bitcoin’s (BTC) volatility remained subdued in the final few days of the last year, indicating that investors were in no hurry to enter the markets. Bitcoin ended 2022 near $16,500 and the first day of the new year also failed to ignite the markets. This suggests that traders remain cautious and on the lookout for a catalyst to start the next trending move. Several analysts remain bearish about Bitcoin’s near-term price action. David Marcus, CEO and founder of Bitcoin firm Lightspark, said in a blog post released on Dec. 30 that he does not see the crypto winter ending in 2023 and not even in 2024. He expects that it will take time to rebuild consumer trust but believes the current reset may be good for legitimate firms over the long term. Crypto market data daily view. Source: Coin360 The...
SushiSwap CEO proposes new tokenomics for liquidity, decentralization
Jared Grey, CEO of the decentralized exchange Sushiswap, has plans to redesign the tokenomics of the SUSHI token, according to a proposal introduced on Dec. 30 in the Sushi’s forum. As part of the new proposed tokenomics model, time-lock tiers will be introduced for emission-based rewards, as well as a token burning mechanism and a liquidity lock for price support. The new tokenomics aims to boost liquidity and decentralization in the platform, along with strengthening “treasury reserves to ensure continual operation and development,” noted Grey. In the proposed model, Liquidity Providers (LPs) would receive 0.05% of swap fees revenue, with higher volume pools receiving the biggest share. LPs will also be able to lock their liquidity to earn boosted, emissions-based rewar...
Meet the renewable energy source poised for growth with the help of the oil industry
A geothermal energy plant taps deep underground heat from the southern San Andreas Fault rift zone near the Salton Sea on July 5 near Calipatria, Calif. | David McNew/Getty Images One of the oldest forms of clean power is ready for a comeback — and it’s not wind or solar. Geothermal energy — the technology that harnesses the heat beneath the Earth’s crust — is drawing fresh interest after lawmakers boosted funding flows for it in the bipartisan infrastructure law and Inflation Reduction Act, dovetailing with advances in technology, new state incentives and interest from the oil drilling sector. While the next generation of geothermal projects are still in the early stages of development, advocates say the underground energy source has the potential to supply more than 60 gigawatts of firm,...
What’s a Services Marketplace and the Best Services Marketplace Website
A services marketplace is a platform that connects service providers with customers who need their services. It allows service providers to offer their services to a large number of potential customers and makes it easy for customers to find and hire service providers. Services marketplaces can be online or offline and can cover a wide range of services, including home services, professional services, and personal services. One of the main benefits of a services marketplace is convenience. Customers can easily search for and compare different service providers in one place, saving them time and effort. They can also read reviews from other customers to get a sense of the quality of the services being offered. This transparency and convenience can lead to a better overall experience for bot...
What is USD Coin (USDC), fiat-backed stablecoin explained
USDC offers instant payments, saves users from the cryptocurrency market’s price volatility and is audited by a regulated auditing firm, making it a transparent stablecoin. However, it does not offer price appreciation opportunities, and investors may incur high transaction and withdrawal fees while dealing with USDC. One of the key advantages of the USD Coin is the speed of the transaction. Usually, one must wait a long time to send and receive USD because institutions such as banks and their complex procedures slow down the processing of transactions. Nonetheless, USDC allows instant clearing and settlement of payments. In addition, stablecoins like USDC saves users from the price volatility of cryptocurrencies, as leading American financial institutions ensure that Circle&...
Bitcoin ‘not undervalued yet,’ says research as BTC price drifts nearer to $16K
Bitcoin (BTC) may not be at a good value enough for a macro price bottom, according to analysis from CryptoQuant. In a blog post on Dec. 29, a contributor to the on-chain analytics platform flagged one BTC price indicator with further left to fall. Profitability indicator lacks key cross At nearly 80% below all-time highs, BTC/USD is nearing the zone in which it bottomed during previous bear markets. As CryptoQuant’s MAC_D notes, there is no shortage of instruments pointing to the 2022 bear market bottom already forming. Despite this, however, the signs are not yet unanimous, and pointing to transactions in profit and loss, he warns that cheaper BTC prices may still enter. CryptoQuant’s unspent transaction outputs (UTXOs) in profit and loss indicator currently shows around 30% of transacti...
10 crypto tweets that aged like milk: 2022 edition
To put it lightly, it has been a wild year for the crypto sector. In the span of less than 12 months, the third-most valuable stablecoin imploded, leading to a domino effect that saw crypto lender Celsius go bankrupt, Three Arrows Capital’s founders go runabout and one of crypto’s most “altruistic” executives flown home in cuffs. In this article, Cointelegraph has selected 10 crypto-related tweets that have aged like spoilt milk. Do Kwon — “Steady lads” On May 10, just as the algo-stablecoin formerly known as TerraUSD started to fall below its dollar peg, the Terraform Labs founder attempted to allay fears of a further depeg, tweeting: “Deploying more capital – steady lads.” Well, we all know what happened after. The collapse of the Terra ecosystem in May 2022 saw more than $40 billi...
Australia overtakes El Salvador to become 4th largest crypto ATM hub
El Salvador, the first country to legalize Bitcoin (BTC), has been pushed down yet another spot in total crypto ATM installations as Australia records 216 ATMs stepping into the year 2023. As part of El Salvador’s drive to establish Bitcoin as a legal tender, President Nayib Bukele had decided to install over 200 crypto ATMs across the country. While this move made El Salvador the third largest crypto ATM hub at the time after the United States and Canada in September 2021, Spain and Australia overtook the Central American country’s ATM count in 2022. On October 2022, Cointelegraph reported that Spain became the third-largest crypto ATM hub after installing 215 crypto ATMs. However, Spain continued its installation drive and is home to 226 crypto ATMs at the time of writing. El Salvador’s ...
US lawmakers under pressure following FTX collapse: Report
Legislators in the United States seem to be reevaluating the crypto industry and its regulatory needs in light of FTX’s collapse. According to the Wall Street Journal, since the crypto exchange filed for bankruptcy in November, lawmakers have been under pressure to set a new regulatory framework for cryptocurrencies. Several proposals are in the works that would apply existing banking, securities, and tax rules to cryptocurrencies, and lawmakers are calling on the Securities and Exchange Commission (SEC) to adopt an aggressive approach to the crypto market. In a December House hearing, Rep. Jake Auchincloss, who is also a member of the bipartisan Congressional Blockchain Caucus, reportedly noted that “it’s time for the blockchain investors and entrepreneurs to build thing...
