Industry News — Page: 11

Sandeep Nailwal, Polygon COO, expects Ethereum to become the leading layer-1 network. He outlines the explosive growth of DeFi assets as the most important catalyst for the Ethereum network development.

Jamie Dimon, JP Morgan Chase CEO, stated that Bitcoin is overestimated; meanwhile, the head of the world’s largest bank accepts the fact the first cryptocurrency is going to increase more, hitting new records. Dimon sees it possible for BTC to skyrocket by 10x.

Switzerland is among the most crypto-friendly European countries, and SEBA bank AG is about to become a pioneer in providing crypto-related services to institutional investors.

The Cardano crypto project puts it among the priorities to enhance the opportunities of its blockchain to compete with top digital assets – i.e. Bitcoin and Ethereum. COTI announced the company is close to issuing a stablecoin based on the Cardano blockchain. Such news was primarily revealed by the Cardano CEO, Charles Hoskinson.

The overall market capitalization of stablecoins has exceeded the mark of $120 billion. The Messari analyst, Ryan Watkins, highlights that “the explosive growth of stablecoins is explained by the fact these assets are the best means of storing and moving US dollars throughout the world.”

The 3-year ban for cryptocurrencies is over in Laos, as the government greenlighted mining and crypto trading related to Bitcoin, Ethereum, and Litecoin. According to Laotian Times, 6 companies have obtained access to these services. WDTL, PRBD, SCCL, Joint Development Bank, and two more companies are going to become pioneers of the crypto industry in Laos.

Fidelity Investment is on the way to bring Bitcoin-ETFs to the USA. Thomas Jessop, the Head of the corporation’s digital department, initiated a meeting with SEC representatives to explain the relevance of a Bitcoin-based ETF launch approval.

According to Financial Times, the new FSC regulations are too severe for South Korean Bitcoin exchanges. About 40 out of 60 Korean-based BTC exchanges are about to change their location or go out of crypto business. As of today, more than 60% of crypto trading platforms are not compliant with updated norms and regulations.

Bitcoin power consumption and its impact on ecology is the headliner of crypto news in 2021. According to the CCAF research, the annual energy conception of the first digital currency is about 67 TW/h, and this amount equals 0.43% of the global power demands.

Charles Hoskinson’s words are close to be prophetic – the Cardano CEO assumed crypto adoption would become mainstream after the events taking place in Salvador. According to the Sherlock Communications survey, 48% of Brazilian citizens are ready for Bitcoin adoption right now and want the government to follow the Salvadorian scenario.

According to CoinShares, institutional investors stake on altcoin-based products, as the rate of Bitcoin investments dropped to 65% (the lowest index since May 2021). The experts outline a set of altcoins as exceptionally promising assets.

Since its launch in 2009 Bitcoin has never been deprived of the crypto throne, remaining #1 according to the market capitalization; meanwhile, the crypto community considers Ethereum as the key competitor.

The British financial regulator is about to clear the crypto regulation up. According to Charles Randell, the chairman of FCA (Financial Conduct Authority), the organization aims to find the golden middle to both protect the rights of newcomer investors and avoid too severe laws that may cause the opposite effect.

Stablecoins are still controversial assets, and their fast-growing popularity is a dilemma for officials. These cryptocurrencies solve the key problem of digital assets – stablecoins are not volatile being backed by fiat currencies, metals, stocks, etc.

The Findler’s Cryptocurrency Survey disclosed the fast-growing interest of Australian citizens towards digital currencies. According to the survey, 17% of Aussies hold crypto assets, understanding their highest potential.

Twitter follows Tesla on the crypto-supporting path, as the network’s co-founder Jack Dorsey considers Bitcoin among the assets with the greatest potential.

El Salvador is going to become the first country where digital currencies are officially supported by the government. The Salvadoran Parliament has already adopted Bitcoin as an official payment option throughout the country, and now it’s time for the next step – the government approves the launch of a Bitcoin trust worth $150 million.

Stablecoins are a meeting point between two opposite parties. Those assets provide holders with all the pros of digital assets, while volatility doesn’t affect stablecoins backed by fiat currencies. Furthermore, the European Council calls stablecoins a threat to the traditional economy, understanding the greatest potential of such a cluster.

Jack Dorsey, the co-founder of Twitter, commented on the TBD platform progress (the project was launched for a Bitcoin-based DEX creation). This platform is based on Dorsey’s payment company Square.

The era of crypto-skeptics has finally gone, as today’s top managers understand the explosive potential of blockchain technology and digital assets.

Bitcoin payments are somehow a new mainstream for progressive merchants, as the number of crypto-friendly businesses skyrockets in 2021.

Ripple seems to rise from the ashes. The end of 2020 turned out a difficult period for the former third-largest cryptocurrency. SEC initiated a claim against the company, and the digital asset had lost more than 60% of its value. Meanwhile, at present, Ripple pretends to become the crypto Phoenix, as the cryptocurrency is ready for new all-time highs.

Brazil is among the most progressive Latin American countries, and the government has decided to hold the same course.

The Chinese Poly Network project experienced the most giant hacker attack ever taking place in the crypto industry. Due to the attack assets worth $611 million were stolen, and the incident had become a bad signal for the market in general. Meanwhile, further events are outside of logic.