News About Blockchain Industry

Compared to last week’s depressed market, this week is better with the news of investments, regulations, funding, and improvised condition. Check-in detail with current week news…

Bitcoin

• IMF urges El Salvador to remove Bitcoin’s status as legal tender. According to the IMF’s executive board, the use of Bitcoin as legal tender carried “large risks” related to financial stability, financial integrity and consumer protection.
• Valkyrie aims for ETF linked to Bitcoin mining firms on Nasdaq. The proposed ETF would invest at least 80% of its net assets in securities of companies that “derive at least 50% of their revenue or profits” from BTC mining.
• Altcoins book 40% gains after Bitcoin and the crypto market enter a relief rally. FRONT, DG and QSP join the list of altcoins that surged more than 40% after BTC recovered the $38,000 level.
• SEC pushes decision on ARK 21Shares Bitcoin ETF to April 3. The regulatory body said it was appropriate to designate a longer period to approve or disapprove of the proposed Bitcoin ETF.
• The International Monetary Fund is telling El Salvador to forget about bitcoin for good and to forgo any further plans involving the world’s number one digital currency by market cap.

Blockchain

• Nakamoto Games launched $NAKA Blaster. Visit https://play.nakamoto.games and play the first multiplayer game on the Nakamoto Games platform. Nakamoto Games will host the first community tournament soon and will reveal an incredible expansion plan.
• YouTube head of gaming Ryan Wyatt to resign and join Polygon Studios as CEO.
• UBS will buy the robo-advisory firm Wealthfront for $1.4 billion, the two companies announced Wednesday.
• The Sandbox Metaverse Accelerator Program will invest in 30 to 40 blockchain startups a year, helping to develop the open metaverse. The program will invest up to US$250,000 in each startup.
• The Sandbox metaverse token gains 40% after Snoop Dogg, Warner Music partnership. SAND’s 40% rally follows a two-month-long correction that wiped out nearly 70% of the token’s market valuation.
• Kyber Network bucks the market-wide downtrend with a 57% gain in January following the launch of Kyber 3.0 and integration across many decentralized exchanges.
• Terra at risk of 50% drop if bearish head-and-shoulders pattern plays out.
• Nakamoto Games is listed on MEXC. Users can trade $NAKA on KuCoin and MEXC now. Trading has sufficient liquidity, and the Nakamoto Games Team keeps expanding the exchange selection. More listings and partnerships to come soon.
• The Metaverse will change the live music experience, but will it be decentralized? Widespread adoption of virtual reality could be the next big step for live music, which in turn could be the key to mass adoption of NFTs and DAOs.
• SEC approves BSTX for blockchain settlements on traditional markets. BSTX‘s SEC approval does not involve crypto trading or any other form of use of blockchain technology.

Crypto

• Dragonfly Capital, a crypto-focused venture capital firm, is raising $500 million for a new fund, according to a filing submitted with the Securities and Exchange Commission.
• SEC reportedly probing crypto lending products by Gemini and Celsius. The SEC’s main concern reportedly lies with the high yield offering by crypto lending services, which are often considerably higher than most savings banks.
• MetaMask’s new inbuilt multichain institutional custody feature. MMI product lead Johann Bornman labeled the integration with Cactus Custody’s DeFi Connector as a profound DeFi offering for institutions.
• Fidelity seeks approval for 2 more crypto-metaverse ETFs. The funds will track Fidelity proprietary Crypto Industry and Digital Payments and Metaverse indices.
• Diem is dead, but Facebook isn’t done with crypto. Two and a half years after Facebook announced Libra, it’s dead before it was ever born. But Meta isn’t done with crypto.
• Coinbase’s investment arm escalated its investment activity in 2021, sinking more capital into crypto projects last year than ever before.
• Vitalik Buterin has unveiled how he will use $100 million in cryptocurrency from India’s Covid Crypto Relief Fund to accelerate relief efforts and bring great benefit to Indians and non-Indians.
• Litecoin is finally launching its major Mimblewimble upgrade. Privacy opt-ins are coming to Litecoin even as regulators continue to scrutinize anonymity-boosting protocols.
• VanEck launches its first multi-token cryptocurrency fund. The ETN will contain exposure to seven different major cryptocurrencies.
• Crypto Exchange FTX now valued at $32B after third fundraise in last six months. The exchange raised $400 million in a Series C round.

Ethereum

• Ethereum bulls aim to flip $2.8K to support before calling a trend reversal. ETH price appears to be bottoming but analysts are watching for $2,850 to flip from resistance to support before calling a bullish reversal.
• Justin Bieber bought Ape #3001 for a whopping 500 ETH worth about $1.3M.

NFT

• YouTube CEO hints that NFTs could be added to creator platform. Susan Wojcicki stated YouTube’s intent to help creators capitalize on emerging technologies.
• NFTs ‘achieved mainstream breakthrough in 2021. Research firm Nansen found that total sales volume for NFTs hit $17 billion in 2021, while OpenSea briefly overtook Uniswap in terms of gas usage.
• Reddit is testing out NFT profile pics, but no decisions have been made.
• Clever NFT traders exploit crypto’s unregulated landscape by wash trading on LooksRare. LooksRare aims to be an alternative to OpenSea, but the amount of wash trading on the platform raises questions on whether users really view it as a viable competitor.
• Bored Ape Yacht Club non-fungible NFT collection continues to see increased demand, with the latest example recently sold at a value of over $2.8 million.
• Nakamoto Games is rolling out a range of exciting features that will enhance ecosystem growth and allow players to enjoy a more immersive gaming experience. Nakamoto Games launches more staking options, the $NAKA marketplace, integrate a live chat, add NFT’s and go live on Thai Universities.

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Credit: Telegram VYSYN – Capital News