crypto blog
Former Block.one strategist believes Bitcoin will reach $200k next year
His projection is similar to that laid out by Fundstrat Global Advisors co-founder at the end of last week Block.one ex-Chief Strategist Officer Brock Pierce has predicted the price of Bitcoin to rise to $200,000 at some point in 2021. Justifying his projection, the former child actor explained that the economic situation i.e. the growing inflation would propel the flagship cryptocurrency into the five-digit zone. Bitcoin surged to a 7-day high just shy of $52,000 on Monday but has since been on a downtrend. The recent dip places the coin 31.75% below its all-time high recorded in November. It’s unlikely Bitcoin price will reach his initial predicted price figure In an interview with Fox Business, he acknowledged that his previous prediction of $100,000 before the end of the yea...
DAO treasuries surged 40X in 2021: DeepDAO
The total combined value of treasuries, or assets under management (AUM) for the use of decentralized autonomous organizations, increased by around 40 times between January and September of 2021. According to data from DAO stats platform DeepDAO, the total AUM for DAO treasuries listed on the platform increased from around $380 million in January to a peak of roughly $16 billion in mid-September. Looking ahead at 2022: ✍️How far and how deep will DAOs go into the mainstream, and into which use cases? ✍️(When) will DAO treasuries exceed $100B? Lots of interesting questions, but together we can BUIDL this! pic.twitter.com/JDEC9JBuHC — DeepDAO.io (@DeepDAO_io) December 30, 2021 As of mid-December, the total AUM has decreased by 28.1% since the high water mark to si...
Bitcoin has risen 7% to 36% in the first week of January each year since 2018
Some crypto market analysts are highlighting the potential for a green first week on the crypto markets in January as part of what economist and trader Alex Krüger calls the “first week of the year effect.” Krüger pointed out in a Dec. 29 tweet that for the past four years straight, Bitcoin (BTC) has enjoyed positive returns in the first week of January ranging from 7% to 36% between 2018 and 2021. In 2021, BTC grew from $28,653 to $41,441 in the first week of Jan. When asked what had happened in previous years, Krüger replied, “tbf only 2020 and 2021 matter, different markets, so do with those two data points as you will”. Still expect a strong crypto up market in early Jan driven by fund inflows. Then risk-off ahead of the next FOMC (Jan/26) if the next inflation print comes in too hot (...
Finance Redefined: Polygon fixes $24B bug, Hoskinson optimistic for Cardano in 2022, Dec. 24–31
Welcome to the latest edition of Cointelegraph’s decentralized finance newsletter. As the calendar year comes to an end, Cardano’s personable leader Charles Hoskinson shares a message of optimism, unity and collaboration for the future of crypto. As a gesture of goodwill for the holiday season, this week our long-form DeFi newsletter will be published in full here as an article alongside the regular email. Subscribe below for full access to next week’s edition! Polygon fixes potential billion-dollar protocol vulnerability Layer-two protocol Polygon announced this week the rectification of a potentially multi-billion-dollar vulnerability in its proof-of-stake Genesis contract through implementing an Emergency Bor Upgrade to the mainnet. The incident and subsequent upgrade took p...
Eth2’s Rocket Pool reaches $350M TVL and 635 node operators in five weeks
Rocket Pool, a decentralized Ethereum 2.0 staking platform has surpassed $350 million worth of total value locked (TVL) within five weeks of its official launch. The project aims to remove the barriers to entry for Eth2 stakers and node operators. It allows any user to run a node for 16 ETH ($59,000), which is half of the 32 ETH ($119,000) required in the Eth2 deposit contract. Users with as little as 0.01 ETH can also stake their funds and receive yield. According to data from DefiLlama, Rocket Pool has surged up the decentralized finance (DeFi) staking platform rankings to sit at third with a TVL of $355.64 million at the time of writing. The project is currently behind the Keep3r Network at $584.34 million, and Lido Finance in first place with $6.04 billion. Lido Finance was launched in...
Kevin O’Leary says his crypto holdings could reach 20% of portfolio
Shark Tank celebrity Kevin O’Leary, also known as “Mr. Wonderful,” has said he would be ready to increase his crypto allocations up to 20% as soon as there are clearer regulations around stablecoins. O’Leary, a former Bitcoin (BTC) skeptic, is now a vocal advocate of cryptocurrency, which currently makes up over 10% of his investment portfolio. Mr. Wonderful is particularly focused on U.S. dollar-pegged stablecoins, which he sees as an effective hedge against rising levels of inflation. By staking stablecoins, he pointed out, he can make up to 6% returns. He explained to Cointelegraph: ”When inflation is 6%, your buying power 12 months from now is 6% less. And that’s a lot. […] I’m a huge advocate for solving this problem with stablecoin.” A clear regulatory framework would al...
SEC chair has a new senior adviser for crypto
United States Securities and Exchange Commission (SEC) chair Gary Gensler has added a new staff member who will offer advice related to crypto policymaking and interagency work. In a Thursday announcement, the SEC said Corey Frayer would be joining Gensler’s executive staff as a senior adviser on the agency’s oversight of cryptocurrencies. Frayer has worked as a professional staff member of the Senate Banking Committee as well as a senior policy adviser for the House Financial Services Committee with Representatives Maxine Waters and Brad Miller. Frayer’s appointment to the SEC chair’s executive staff came alongside those of Philipp Havenstein, Jennifer Songer and Jorge Tenreiro, who will be working as operations counsel, investment management counsel and enforcement counsel, respect...
Institutional tax-loss harvesting weighs on the Bitcoin price as 2021 comes to a close
2021 has been a breakout year for the cryptocurrency market as a whole despite the year-end struggles that have kept the price of Bitcoin (BTC) pinned below $48,000, much to the chagrin of the cadre of folks who had been calling for a $100,000 BTC moonshot. Data from Cointelegraph Markets Pro and TradingView shows that the past 24 hours have been a rollercoaster ride for the top cryptocurrency after a brief dip below $46,000 in the early trading hours on Dec. 30 was quickly bought up to push the BTC price back above $47,500 by midday. BTC/USDT 4-hour chart. Source: TradingView Here’s a look at what several analysts in the market are saying about the year-end price action for Bitcoin and what to expect in 2022 as the mass adoption of blockchain technology and cryptocurrencies continue...
Crypto Biz: The blockchain revolution will cast aside the skeptics, Dec. 23-30
From a price perspective, the cryptocurrency market is ending 2021 with a whimper as Bitcoin (BTC), Ether (ETH) and other digital assets continue to trade well below their prior peaks. But the business of blockchain and crypto is heating up, as evidenced by the arrival of institutional capital and the flood of venture funding into the space. According to Nischal Shetty, CEO of India’s WazirX crypto exchange, the digital asset revolution is already underway and will continue with or without your participation. Below is the concise version of the latest “Crypto Biz” newsletter, which is delivered to your inbox every Thursday. Register for the full newsletter below to receive comprehensive insights every week. Crypto won’t wait for nations to come on board: Wazir...
Bitcoin ‘died’ 45 times in 2021 as media still eager to post BTC obituaries
As Bitcoin (BTC) was hitting new historical highs above $68,000 this year, global cryptocurrency naysayers were increasingly blasting BTC for its extreme volatility and potential risks. According to Bitcoin Obituaries data by Bitcoin education portal 99Bitcoins, the original cryptocurrency was declared “dead” as many as 45 times in 2021, which is at least three times more than in 2020. Despite the growing number of Bitcoin critics in 2021, the number of obituaries is still significantly less this year than was recorded in 2017, the year when BTC first reached close to $20,000. That year, Bitcoin “died” 124 times. Incepted in 2010, 99Bitcoins’ Bitcoin Obituaries list has English-language statements, including content about the fact that Bitcoin “is or will be worthless.” To qualify an obitu...
Mexico confirms plans to roll out CBDCs in 2024
Mexico has announced that it would introduce a new national central bank digital currency (CBDC) in 2024, according to a tweet posted on Thursday. The tweet by an account representing the Mexican presidency highlighted that “new technologies and next-generation payment infrastructure” will help Mexico become more financially inclusive. El @Banxico informa que hacia 2024 tendrá una moneda digital propia en circulación, por considerar de suma importancia estas nuevas tecnologías y la infraestructura de pagos de última generación como opciones de gran valor para avanzar en la inclusión financiera en el país. — Gobierno de México (@GobiernoMX) December 30, 2021 The plans for a CBDC follow the recent statement by Mexico’s President Andrés Manuel López Obrador that Mexico is un...
Genesis issues $6M NFT-backed loan to Meta4 Capital
Genesis Global Capital has completed one of its first purely NFT-backed loans for $6 million to Meta4 Capital, a Miami-based Web3 focused investment management firm. This loan is notable not just for its amount but for solely using nonfungible tokens (NFTs) as collateral instead of including broader liquid collateral. Meta4 operates as an NFT VC backed by Andreessen Horowitz, specializing in acquiring presumed rare and historically significant NFTs. The proceeds of Genesis’ loan were used to finalize Meta4’s purchase of three NFTs part of Sotheby’s Metaverse “Natively Digital” October NFT auction: the $3.4 million record-setting gold Bored Ape Yacht Club #8817, the Rare Pepe PEPENOPOULOS for $3.6 million and an NFT from FingerprintDAO’s Mitchell F. Chan for $1.5 million. These acquisitions...
