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Bitcoin dominance has dropped to the lowest level in just over three and a half years since June 3, 2018, at 37%. Last year, at the end of March, bitcoin dominance hovered just above the 60% zone but since then, numerous digital asset market caps have swelled in value and gathered prominence in the market rankings along the way. Bitcoin Dominance Dips Below 38% The crypto economy currently has roughly 12,247 crypto assets traded across 542 exchanges worldwide. Crypto markets have shed more than 7% over the last 24 hours, dropping to a low of $2.16 trillion by 8:00 a.m. (EST). While people measure the individual crypto market capitalizations regularly, bitcoin’s market valuation dominance, compared to the rest of the capitalizations, has been measured since the existence of multiple crypto markets. During the first few years, BTC dominance was well above the 90% range, in terms of market capitalization dominance. Dominance was recorded more so during the month of May 2013, and at that time, BTC dominance was 94%. This was measured against crypto assets like namecoin, novacoin, litecoin, terracoin, feathercoin, and freicoin. Between May 2013 and February 2017, bitcoin’s market dominance remained above 80%. However, since February 26, 2017, bitcoin has not been able to jump back above the 80% zone and has only managed to get as high as 70% just over a year ago, last January. 11 Coins Besides Bitcoin and Ethereum Command Over 20% of the Crypto Economy BTC’s dominance is currently coasting along at 37.7% while ethereum (ETH) commands 18.6%. While ethereum is a formidable foe, many other crypto caps have been moving in on bitcoin’s dominance territory. Tether, binance coin, solana, usd coin, cardano, and xrp command more than 15% of the $2.18 trillion crypto economy. The aforementioned coins, plus terra, polkadot, avalanche, dogecoin, and shiba inu equate to 20.63% of the crypto economy. All of these coins, including ethereum and removing SHIB, hold more than 1% or more in crypto market valuation dominance. Since January 2021, when BTC’s dominance was 70%, a myriad of altcoins have been nipping at bitcoin’s market cap heels. What do you think about bitcoin’s low dominance levels today? Let us know what you think about this subject in the comments section below. View the full article

What Are Sassy Unicorns NFT Sassy Unicorns are a collection of 10,000 unique NFTs on the Ethereum blockchain. Each unicorn is available to adopt, with unicorns distributed randomly at the minting event. Special About Sassy Unicorns NFT Each NFT holder can yield 7$ daily by holding NFT in their wallet. Passive Income Token The goal is to create a loop. The passive income increases the value of the NFT, the price of the token increases because the floor price increases, so the passive income increases again because token price increases, the floor price increases again, the passive income increases again. Why Token A token will sit at the core of everything in the Sassy Unicorns universe. As the universe grows more utility will be added. The mission of Sassy Unicorns extends further than a 2D PFP, or a 3D avatar. It’s about family, utility, and of course the main life source of any unicorn, token that fuels the ecosystem the TRUE way, on the blockchain. (*The SUNI token is under development and not available for code testing yet.) Controlling the Floor There will be a grace period of 12 days to hold NFT in your wallet to be eligible to earn token daily. If you sell/transfer/list your NFT 12 days grace period starts again. Project for Holders not Flippers Have patience and you will get your reward. Not a project for quick money and flippers. No rugpulls. Breeding Hold any two Sassy Unicorns NFT in your wallet and burn 600 tokens to receive a Baby Unicorn. What’s Next for Sassy Unicorns The Sassy Unicorns developers have built a long-term roadmap to grow and provide value for the Sassy Unicorns community. Once it has grown out into a powerful and engaged community, the developers will release 3D unicorns and VX unicorns to be part of Sandbox Metaverse. More details soon. The main goal is to take this phenomenon to the next level, empowering and incentivizing Sassy Unicorns NFT holders. Mint now on: https://sassyunicorns.io/ Website: https://sassyunicorns.io/ Twitter: https://twitter.com/SassyUnicornNFT Discord: https://discord.gg/2PjVUrJvDJ This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

ESMA, the European Securities and Markets Authority, has set out to establish if EU authorities need to amend existing regulations in order to facilitate the trading and settlement of tokenized securities. The regulator is now seeking opinions on the matter ahead of launching a pilot regime for market infrastructures based on distributed ledger technology (DLT). ESMA Gathers Stakeholders’ Input on DLT Pilot Regime for Securities The European securities watchdog ESMA is accepting public comments on the potential update of regulations concerning the implementation of DLT solutions in the market. The authority has to assess whether some regulatory technical standards (RTS) developed under the Markets in Financial Instruments Regulation (MIFIR) need to be amended in order to be applied to securities issued, traded, and recorded on DLT. The standards in question pertain to trade transparency and data reporting requirements, ESMA notes in a “Call for Evidence” document published this week, which seeks feedback from various stakeholders. These include trading venues, securities settlement systems and entities planning to operate under its DLT pilot regime, and other market participants that intend to use DLT market infrastructures. The announcement notes that the text of the DLT pilot is not finalized yet but as an agreement between the European Parliament and the European Council has already been reached in November, ESMA believes it’s necessary to begin consultations now. The regulator explains: The DLT Pilot Regime is likely to start applying in the beginning of 2023, which leaves only little time for the assessment and potential amendments of the RTS. The Paris-based regulatory body will accept and review the comments submitted by interested parties by March 4, 2022. Based on the feedback provided by the market participants, the authority will consider introducing specific amendments to the RTS. If such changes are deemed necessary, the European Securities and Markets Authority will once again seek public opinion on its proposals through a consultation paper to be issued before the final draft of the RTS is presented to the European Commission. The executive power in Brussels will have the final say on their adoption. Do you expect the EU to amend its regulations for the DLT pilot regime for securities trading and settlement? Tell us in the comments section below. View the full article

Coinbase’s chief product officer has shared some predictions for 2022 regarding Ethereum’s scalability, the metaverse, decentralized finance (defi), non-fungible tokens (NFTs), and more. 2022 Predictions by Coinbase’s Executive Coinbase’s chief product officer, Surojit Chatterjee, shared last week 10 predictions of what the crypto industry holds in 2022. The predictions cover a range of crypto topics, including ETH scalability, zero-knowledge proof technology, decentralized finance (defi), non-fungible tokens (NFTs), and the metaverse. Non-fungible tokens “will become the next evolution of users’ digital identity and passport to the metaverse,” the executive described, adding: User created metaverses will be the future of social networks and will start threatening the advertising driven centralized versions of social networks of today. “Brands will start actively participating in the metaverse and NFTs,” he continued. “NFTs and the metaverse will become the new Instagram for brands.” Furthermore: “Web2 companies will wake up and will try to get into Web3 … and metaverse in 2022. However, many of them are likely to create centralized and closed network versions of the metaverse.” Regarding regulated defi and the “emergence of on-chain KYC attestation,” the Coinbase executive explained that “Many defi protocols will embrace regulation and will create separate KYC user pools.” He detailed: Institutions will play a much bigger role in defi participation … Growth of regulated defi and on-chain KYC attestation will help institutions gain confidence in defi. The Coinbase executive further predicted that “Defi insurance will emerge,” emphasizing that “To protect users from hacks, viable insurance protocols guaranteeing users’ funds against security breaches will emerge in 2022.” The predictions also cover Ethereum’s scalability. The executive said: ETH scalability will improve, but newer L1 chains will see substantial growth — As we welcome the next hundred million users to crypto and Web3, scalability challenges for ETH are likely to grow. What do you think of the predictions by Coinbase’s executive? Let us know in the comments section below. View the full article

Moneygram has completed an investment in cryptocurrency ATM operator Coinme. “At Moneygram, we continue to be bullish on the vast opportunities that exist in the ever-growing world of cryptocurrency,” said the CEO. Moneygram Invests in Crypto Company Coinme Moneygram International Inc. (NASDAQ: MGI) announced Wednesday that the company “has completed a strategic minority investment in Coinme, a leading cryptocurrency cash exchange in the U.S.” This venture gives Moneygram an approximate 4% ownership stake in Coinme. Alex Holmes, Moneygram chairman and CEO, commented: At Moneygram, we continue to be bullish on the vast opportunities that exist in the ever-growing world of cryptocurrency and our ability to operate as a compliant bridge to connect digital assets to local fiat currency. The investment by Moneygram will support Coinme’s international expansion plans and other growth initiatives. Founded in 2014, Coinme currently operates in 48 states with plans to expand internationally in the near future. Coinme has partnered with Coinstar, a popular automated service for those who want to turn their fiat coins into paper cash, to enable bitcoin purchase at over 21,000 Coinstar kiosks. Moneygram serves nearly 150 million people around the world over the last five years. Moneygram and Coinme share a “vision to expand access to digital assets and cryptocurrencies,” the announcement details. The Moneygram CEO added: As we accelerate our innovation efforts, partnerships with startups like Coinme will further our position as the industry leader in the utilization of blockchain and similar technologies. “Our unique cash-to-bitcoin offering with Coinme, announced in May of 2021, opened our business to an entirely new customer segment, and we couldn’t be more pleased with our progress,” he continued. Moneygram announced in May that the two companies plan “to create a crypto-to-cash model by building a bridge to connect bitcoin to local fiat currency.” The partnership allows Moneygram to let customers buy and sell bitcoin at 12,000 locations. What do you think about Moneygram taking a 4% stake in Coinme? Let us know in the comments section below. View the full article

El Salvador is preparing to introduce 20 bills to provide a legal framework for its upcoming bitcoin bonds. The funds raised will be used to build infrastructure for Bitcoin City and buy more bitcoin, the Salvadoran government explained. El Salvador Drafting Legal Framework for Bitcoin Bonds El Salvador’s finance minister, Alejandro Zelaya, said in an interview on local television Tuesday that his government will send about 20 bills to Congress concerning the country’s bitcoin bonds. The bills will cover financial markets and investment in securities to provide a legal foundation for issuing bitcoin bonds, he explained, adding that the legislation will create a framework to cover corresponding market regulation and issuance of securities in crypto assets. The finance minister described: (This is) to provide a legal structure and legal certainty to everyone who buys the bitcoin bond. The Salvadoran government explained that half of the funds raised from the bitcoin bonds will be used to build infrastructure and the rest to buy bitcoin. The president of El Salvador, Nayib Bukele, announced in November his plan to issue bitcoin bonds worth $1 billion with a coupon rate of 6.5% in order to finance the construction of Bitcoin City. The city will be powered by a volcano and there will not be any taxes in there except for value-added tax (VAT), Bukele further said. The issuance of the bitcoin bonds is planned for this year. Bukele predicted this week that it will be oversubscribed. He also noted that the construction of Bitcoin City is expected to commence this year. El Salvador passed a bitcoin law, making BTC legal tender alongside the U.S. dollar in September last year. Since then, the country has purchased 1,391 bitcoins. What do you think about El Salvador planning to submit 20 bills to provide a legal structure for bitcoin bonds? Let us know in the comments section below. View the full article

Hardware manufacturer Canaan is expanding its crypto mining operations in Kazakhstan. The company is now cooperating with a number of mining firms there and has already deployed over 10,000 pieces of hardware despite the country’s challenges with electricity supply. Increased energy prices have also provoked protests that could potentially affect the industry. Canaan Secures Mining Agreements With Companies in Kazakhstan China-rooted producer of coin minting equipment, Canaan, has announced it has entered into collaboration agreements with multiple crypto mining companies in Kazakhstan. Amid an ongoing crackdown on the crypto mining industry in the People’s Republic, the Central Asian country has become a magnet for miners with its low electricity rates and generally friendly attitude. In a press release published on Tuesday, the company revealed it had successfully installed the last batch of mining machines for the first phase of its deployment to Kazakhstan. Noting that it continues to deploy additional computing power in accordance with its mining business expansion plan, Canaan detailed: As of December 31, 2021, the Company had an aggregate of 10,300 AvalonMiner units in mining operations in the country. “The deployment of over 10,000 mining machines not only deepens our collaboration with leading local mining farms, but also marks our great strikes in our cultivation of the Bitcoin mining business,” Canaan CEO Nangeng Zhang commented. “Joining hands with mining firms, we are excited to leverage each of our respective strengths and resources to maximize profits and capitalize on the growth of the digital assets industry,” the executive added. Canaan is among numerous mining companies that sought to relocate their equipment to more favorable jurisdictions after the Chinese government launched a nationwide offensive against the mining sector in May of last year. The list includes names like Bitfufu, a mining entity backed by another major manufacturer of application-specific integrated circuit (ASIC) rigs, Bitmain. Some Crypto Miners Leave Kazakhstan as Rising Energy Prices Spark Protests Kazakhstan, which maintains capped electricity tariffs and has taken steps to regulate the sector, initially welcomed miners and became an obvious choice for many of them. However, last year’s influx of mining companies has caused a growing power deficit that exceeded 7% in the first three quarters of 2021. A recent report revealed that some mining firms are already moving out of the country in search of destinations with a more stable power supply such as the U.S. Meanwhile, the government of Kazakhstan has been exploring ways to deal with the electricity shortages, including by reviving a decade-old project to build a nuclear power plant. The country, which is normally rich in energy resources, saw the eruption of anti-government protests in the first days of the new year, following an increase in the prices of natural gas. The unrest could potentially affect the energy-intensive mining industry and members of the international crypto community are already warning miners to take care of their safety. In an attempt to bring the situation under control, President Kassym-Jomart Tokayev issued an order to limit gas, fuel, and food prices, blaming the government for the protests. The cabinet of ministers has resigned. In November, Tokayev called for “urgent” regulation of the country’s expanding crypto mining sector, emphasizing the need to ensure an uninterrupted electricity supply for both businesses and households. Do you think more companies will follow Canaan’s example or will we see an exodus of crypto miners from Kazakhstan? Tell us in the comments section below. View the full article

PRESS RELEASE. Dacxi has announced the Dacxi Chain – the world’s first tokenized crowdfunding system that demonstrates the revolutionary commercial potential of blockchain. Tokenization of digital assets will change how the world does business – in particular how new ventures are funded. Introducing the world’s first tokenized crowdfunding system – the unique trillion use-case of the Dacxi Chain – the latest crypto-based wealth building innovation from Dacxi Coin. A share of a $24 trillion market IBM estimates that the digital assets market will be worth $24 trillion USD by 2027. Of that amount they estimate $1 trillion will be ‘unlisted equities.’ In other words that is the expected value of the tokenized venture capital market. That shows the immense potential of the Dacxi Chain and its ecosystem, powered by the Dacxi Coin. Dacxi Coin powers the Dacxi Chain The Dacxi Coin is the native currency to the Dacxi Chain, allowing investments to be transported globally, instantly, and cheaply. Tokens are accountable, trackable, and impossible to counterfeit. Tokens are backed by the global Dacxi network, ensuring education and security of the deals offered. Transaction costs are lower (close to zero). Liquidity is (subject to the token restrictions) far greater. Equity investments in startups are illiquid for years. Given the above, there is likely to be a dramatically larger pool of potential investors. The Dacxi Chain connects a whole new world of innovation and success The Dacxi Chain is poised to unlock the true potential of global venture capital investment, and will turn crowdfunding into a trillion dollar sector. The Dacxi Chain will make acquiring funding and finding opportunities to invest easier and cheaper than ever before. Millions of people and billions of dollars will flow into the market, bringing countless new projects to life all over the world. Ian Lowe, the CEO of Dacxi says “The current equity crowdfunding sector is valued at $10 billion. It‘s a tiny amount compared to the true demand for funding that’s out there – in every corner of the world. With systems like the Dacxi Chain in place, we believe that the tokenized crowdfunding sector alone could hit a $1 trillion valuation by 2027.” Other applications of Crypto 4.0 that are showing us the future of tokenization in finance and investing are Chiliz fan tokens, NFTs and the vast Facebook Diem payment system that brings safe, affordable financial services to people around the world, especially the billions who don’t have an effective bank account. Dacxi Chain will change the world Dacxi Chief Product Officer Fernando Pacheco says “Dacxi Chain tokenized crowdfunding is a perfect use case for Crypto 4.0. It will help countless new innovations to come to life – and literally change the lives of millions of people all over the world. It’s part of a revolution in the technological infrastructure in financial markets led by blockchain focussed fintech companies like Dacxi.” Contact: Felipe Machado Dacxi Coin Marketing Manager E: felipe@dacxi.com dacxicoin.io This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

The price of bitcoin dropped below the $44K zone on Wednesday to $43,678 per unit as the entire crypto-economy has shed billions in value. At the time of writing, the overall crypto economy is down 4.5% as it dipped to $2.25 trillion in value. Bitcoin and Crypto Economy Sheds Billions, Crypto Fear & Greed Index Indicates ‘Extreme Fear’ Is in the Air Bitcoin (BTC) slid in value today, roughly 5.4%% during the last 24 hours. Just after 3:00 p.m. (EST) prices dipped from $46K to $43,678 per unit. BTC’s price is just below the $44K price range against the U.S. dollar. The entire crypto-economy of more than 12,000 crypto assets is down 4.5% and around $2.25 trillion in value. Leading assets like ethereum (ETH) dipped 5.9% and solana (SOL) shed 7.8%. At the time of writing BTC has $25.9 billion in global trade volume and tether (USDT) commands $53 billion in global swaps. The biggest loser in the top-ten crypto markets was terra (LUNA) as it shed 9.2%. Crypto assets that didn’t get affected by BTC’s downward slide include chainlink (LINK), olympus (OHM), and leo token (LEO). Convex finance (CVX), spell token (SPELL), and axie infinity (AXS) suffered the biggest losses during the market rout. The stablecoin market captures $58.8 billion of today’s $98.5 billion in trades. Out of the $2.25 trillion today, stablecoins represent $166.4 billion of the value. Currently, BTC’s market cap is around $836.2 billion in value while ethereum’s (ETH) is $427.7 billion. BTC dominance has dropped significantly and to the lowest point in more than three and half years. BTC dominance today is 37.5% the lowest its been since June 2018, while ETH dominance is 19.2%. At press time, BTC is holding above $44K per unit but has a $ 24-hour range of $46K to $43.7K on Wednesday. Stablecoins have also been feeling the brunt as many are trading a cent or two under the $1 peg. The stablecoin USDC and its market valuation of around $42.6 billion is now the sixth-largest market cap today. USDC has seen $2.6 billion in global trade volume during the last 24 hours and is trading for $0.99 per unit. Metrics from the Crypto Fear & Greed Index show “extreme fear” is the sentiment for today with a score of 24 at the time of writing. What do you think about today’s market action? Let us know what you think about this subject in the comments section below. View the full article

On January 5, the open-source non-custodial decentralized finance (defi) lending platform Aave launched a permissioned version of the protocol aimed at institutions. The platform dubbed Aave Arc will leverage Fireblocks as the first whitelister as the platform aims to help bridge traditional financial institutions with defi. KYC-Centric Defi Liquidity: Aave Launches Aave Arc Permissioned Protocol for Financial Institutions Aave has launched a permissioned platform called Aave Arc on Wednesday, a new protocol dedicated to financial institutions that want to particpitate in defi in a compliant manner. Aave is a popular defi lending platform and the defi protocol has the third-largest total-value locked (TVL) today. Metrics show that Aave has a $14.52 billion TVL spread across three blockchains including Ethereum, Avalanche, and Polygon. The crypto custody firm Fireblocks has approved 30 financial entities to join Aave Arc. The list includes firms like Ribbit Capital, Coinshares, Hidden Road, Wintermute, and Celsius. Aave revealed the Aave Arc concept in July 2021, and in mid-November it was disclosed that Fireblocks was the first whitelister. The defi startup also described how Aave Arc would work after explaining that defi was “inaccessible to traditional financial institutions.” “Aave Arc is a permissioned market based on the Aave V2 market,” Aave said at the time. “In the spirit of innovation and experimentation, Aave Arc creates a Web3-native experience for financial institutions to harness the power of defi in a permissioned sandbox environment.” The defi startup added: True to the values of defi, Aave Arc is designed to be fully decentralized and governed by Aave Governance. ‘Whitelisters’ that KYC and onboard institutions and corporations onto Aave Arc can be appointed or removed by Aave protocol governance. Whitelister Fireblocks Envisions ‘Institutional Interest in Cryptocurrency Accelerating in 2022’ Essentially, the new platform allows traditional finance companies to participate with the Aave system but leverage a permissioned liquidity pool. The crypto custody firm Fireblocks believes that more institutions will embrace cryptocurrency and the belief is the company’s top prediction for 2022. “Institutional interest in crypto will accelerate in 2022,” Fireblocks says in a blog post. “This adoption will gain more momentum from developments in post-trade infrastructure that are currently being implemented across the marketplace,” Fireblocks 2022 prediction post adds. Aave’s native crypto asset, aave (AAVE) has a market valuation of around $3.47 billion on January 5, 2022, and $294 million in global trade volume. Weekly stats show AAVE is up over a percent, two-week metrics indicate the asset has gained 38.1% and year to date, AAVE has gained 135%. What do you think about the permissioned defi platform Aave Arc? Let us know what you think about this subject in the comments section below. View the full article

Popular travel website Airbnb could soon accept cryptocurrencies for payments, CEO Brian Chesky has hinted. “Like the revolution in travel, there is clearly a revolution happening in crypto,” he added. Airbnb’s CEO Says ‘There Is Clearly a Revolution Happening in Crypto’ The CEO of Airbnb, Brian Chesky, asked on Twitter earlier this week, “If Airbnb could launch anything in 2022, what would it be?” On Tuesday, he revealed that he received 4,000 suggestions, noting that the most popular one is for his company to accept crypto payments. He added, “Our existing payments volume = $336 billion processed since 2013,” noting: Crypto payments is inclusive of a variety of token ideas. Other top suggestions include clear pricing displays, a guest loyalty program, updated cleaning fees, more long-term stays and discounts, better customer service, and “commercial spaces (kitchens, co-working).” While specifically confirming that Airbnb is looking into commercial spaces, the CEO noted: Already working on most, will look into others now. Airbnb operates an online marketplace in the travel industry. According to its website, there are currently more than 5.6 million listings worldwide. Since its launch in 2007, Airbnb has served more than 1 billion customers and more than 4 million hosts have listed their properties on the platform. The current payment options Airbnb offers in most countries are Visa, Mastercard, Amex, JCB, and “debit cards that can be processed as credit cards.” Apple Pay, Google Pay, and Paypal are also accepted. Cryptocurrency is currently not a payment option on Airbnb. Chesky was asked in November last year whether Airbnb is considering accepting cryptocurrency. He replied: We are definitely looking into it. Absolutely. Like the revolution in travel, there is clearly a revolution happening in crypto. Noting that “The founder of Coinbase was an early employee of ours,” Chesky revealed, “We have been following the space for quite a long time.” The executive further opined: “The key is when regular people understand how the new technology improved their lives, beyond the initial excitement. I’m really excited about certain applications that regular people could use to live a better daily life.” Do you think Airbnb will soon accept cryptocurrency? Let us know in the comments section below. View the full article

The Animoca Brands subsidiary and blockchain-based virtual world, The Sandbox, has announced the firm has made multiple partnerships in Hong Kong, and has plans to create a “Mega City” in the metaverse. Partners who acquired land in The Sandbox to build Mega City include Hong Kong tycoon Adrian Cheng, professional services firm PWC Hong Kong, and the Hong Kong actress and model Shu Qi. The Sandbox Announces Mega City Launch Blockchain projects like Decentraland and The Sandbox have been seeing significant demand as Web3, NFTs, and metaverse hype has grown exponentially in recent times. On Wednesday, The Sandbox — an Animoca Brands subsidiary and blockchain metaverse that leverages non-fungible token (NFT) technology — announced the launch of a “Mega City.” The firm has made various partnerships in Hong Kong and the metaverse region will become “a new cultural hub,” according to the announcement. The Sandbox details that it partnered with the renowned Hong Kong businessman Adrian Cheng, CEO of New World Development, founder of the K11 brand, and Chow Tai Fook jewelry company’s executive director. The blockchain virtual world will feature Cheng’s XL Estate (24 x 24 LANDs) that aims to be an “innovation hub of Mega City.” A landmark will be the GBA Pavilion that showcases “creativity and tech wonders.” Cheng’s GBA Companies will also provide special experiences like “entertainment [and] exclusive NFTs.” Award-winning entertainment stars like director Stephen Fung and actress Shu Qi plan to showcase exclusive NFTs. “The Sandbox [plans] to create an exciting district of Mega City that will showcase their talents and love for art and culture,” the announcement details. Furthermore, metaverse fans and The Sandbox users will be able to acquire land next to Mega City. The Sandbox has announced a land sale of property located adjacent to the Mega City region. The blockchain virtual world startup’s Mega City announcement explains: To celebrate the new partners, The Sandbox will launch a new LAND sale on January 13, 2022, that will allow players to purchase choice spots near the LANDs of the partners announced today. Blockchain Firm Collaborates With 165 Partners Meanwhile, the project’s native token sandbox (SAND) has shed more than 7% in value this week but during the last two weeks, SAND has gained 6%. Year-to-date metrics show SAND has increased 13,785% against the U.S. dollar. SAND has a market valuation of around $5 billion today and $672 million in global trade volume. Statistics indicate that out of the top NFT marketplaces, The Sandbox Marketplace ranks 25 worldwide with $15.94 million in all-time sales. According to the upcoming land sale details, the company’s new estates can be seen on The Sandbox virtual world map. The Sandbox says premium land will also be available with exclusive NFTs and the ability to host events on the property. Following the announcement, The Sandbox claims that it has acquired 165 partners to date including the South China Morning Post, PWC Hong Hong, The Smurfs, Care Bears, Atari, Cryptokitties, Adidas, Snoop Dogg, and The Walking Dead. What do you think about The Sandbox Mega City and the recent Hong Kong partnerships? Let us know what you think about this subject in the comments section below. View the full article

Leading non-fungible token (NFT) marketplace Opensea announced the firm has raised $300 million in a Series C funding round led by Paradigm and Coatue. Opensea’s latest capital raise has propelled the company to a $13.3 billion post-money valuation. Opensea Raises $300 Million, Commands Post-Money Valuation of $13.3 Billion In mid-November, a report authored by theinformation.com’s Kate Clark and Berber Jin explained that Opensea was fielding new investments after investors were allegedly chomping at the bit to fund the project. At the time, Opensea’s estimated valuation was $10 billion and two sources said: “investors are clamoring for a piece of the startup.” 48 days later, Opensea has revealed it raised $300 million in a Series C finance round. The team says that the new funding will go toward “accelerating product development,” “significantly improve customer support,” “investing in the wider NFT and Web3 community,” and expanding the Opensea team. The funding round was led by Paradigm and Coatue, and a number of other strategic investors joined. Opensea All-Time NFT Sales Near $15 Billion, Eclipsing Competitors, Firm Plans to Launch Grant Program According to Opensea, the new funding gives the company a $13.3 billion post-money valuation. Opensea is also the largest NFT marketplace, in terms of all-time sales, as the company has recorded $14.68 billion in sales across 1,387,357 traders worldwide. Sales are up more than 25% during the last 30 days with a recorded $2.91 billion in volume. The $14.68 billion in sales is a lot larger than any other NFT project or market. For example, the second-largest market, Axie Infinity, has $3.94 billion in all-time sales which is 73.16% lower than Opensea’s sales. Devin Finzer, co-founder and CEO of Opensea, explained in the funding announcement that the team is creating a grant program to help expand the “entire NFT ecosystem.” At press time, the Opensea platform supports NFTs based on the Ethereum (ETH) and Polygon (MATIC) networks. “This quarter, we are launching a grant program to give us the opportunity to directly support the developers, builders, and creators shaping the future of the NFT space,” Finzer said in a statement. “Our ambition is to foster the scale and growth of the broader NFT ecosystem including raising the profile of emerging creators and investing in the people who shape the NFT space for the better today.” What do you think about Opensea raising $300 million and the firm’s $13.3 billion post-money valuation? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. Blockchain history was made earlier this week. Thanks to more than 2,560 DAO votes in a Snapshot proposal, the Panther Protocol was voted to be launched in a private, decentralized manner. This constitutes the very first event of its kind, a feature that sets Panther a step towards its mission to infuse the DeFi ecosystem with native privacy. It is also the very first Private Governance System ever deployed in the crypto industry. Panther’s decentralized, private launch To achieve a fully decentralized, private launch, Panther Protocol’s strong community of enthusiasts used a unique, state-of-the-art tech stack. Panther deployed LaunchDAO, a system allowing every user that had completed Know-Your-Customer identity verification for its Public and Private token sales to issue a zero-knowledge proof anonymously verifying their participation. Using this proof, individually-verified users could privately vote on whether or not to launch the protocol on the Ethereum and Polygon blockchains. With over 99% of the votes in favor of launching the protocol, Panther has set what the team expects will be a positive precedent throughout the industry. Launching in a private, decentralized manner allows the protocol to be governed by a DAO from Day 0, in turn protecting the team from any concerns by lawmakers of the crypto community regarding the control of the project. LaunchDAO as a system could be used and implemented by any blockchain or crypto-related project pursuing decentralization from Day 0. About this achievement and its impact upon the blockchain ecosystem, Panther’s CEO and Co-Founder, Oliver Gale, has said: “LaunchDAO represents the first time in crypto history a fully verified user base has been able to vote on the future existence or non-existence of a protocol. The Panther protocol will be deployed and launched privately and trustlessly by the LaunchDAO. Furthermore, decentralized voting systems have applications across both legacy and Web3 systems.“ In turn, Anish Mohammed, CTO and co-Founder, as well as former advisor to the Ethereum Foundation and Ripple Labs, adds: “LaunchDAO also represents the official debut of Panther ZK Reveals. ZK Reveals protect the identity of each voter, yet use zero-knowledge proofs to validate that they are both qualified to vote whilst also enabling them to do so without leaking confidential information, such as their selected outcome.” It is also worth pointing out that the vote to release the Panther Protocol hasn’t been the only decision of the DAO. The Panther community has also elected to postpone the Token Generation Event for the project’s native token, $ZKP, until January 31st, to allow the team to extend its preparation stage. Upon this date, a third vote by the community will take place to trigger this event. This is made possible at zero cost to users thanks to Panther relayers that cover all gas fees and off-chain voting using the zero-knowledge proofs, known as Panther (ZK) Reveals. What is Panther Protocol Panther Protocol is an end-to-end privacy protocol connecting blockchains to restore privacy in Web3 and DeFi while providing financial institutions with a clear path to compliantly participate in digital asset markets. Panther provides DeFi users with fully collateralized privacy-enhancing digital assets, leveraging crypto-economic incentives and zkSNARKs technology. Users can mint zero-knowledge zAssets by depositing digital assets from any blockchain into Panther vaults. zAssets flow across blockchains via a privacy-first interchain DEX and a private metastrate. Panther envisions that zAssets will become an ever-expanding asset class for users who want their transactions and strategies the way they should always have been: private. Be sure to check out the project’s Website. Stay connected: Telegram | Twitter | LinkedIn | Medium This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

The government of Kosovo has decided to suspend crypto mining activities in the country as part of measures to deal with power shortages this winter. The move has been proposed by a special parliamentary committee tasked with bridging the gap between electricity demand and supply. Kosovo Authorities Ban Crypto Mining to Save Needed Energy The executive power in Pristina has moved to stop the energy-intensive minting of digital coins in Kosovo, a partially recognized republic in Southeast Europe. The country is facing electricity shortages during the cold winter months, local media reported. The halting of crypto mining operations was announced on Tuesday by Artane Rizvanolli, Kosovo’s minister of economy. According to her statement quoted by Gazeta Express, the decision was taken at the recommendation of the Technical Committee on “Emergency Measures for Energy Supply” set up by the nation’s legislature. The restrictions were agreed upon in the parliament of Kosovo last week, DTT Net reported. Kosovo has been experiencing power cuts amid increased demand for electricity during the cold winter months and authorities are trying to find solutions that will mitigate the energy crisis. Minister Rizvanolli added that Kosovo’s law enforcement institutions will join the efforts to locate crypto mining facilities and halt the mining of digital currencies. “These actions are aimed at addressing potential unexpected or long term lack of electricity production capacities, capacities of transmission or distribution of energy in order to overcome the energy crisis without further burdening the citizens of the Republic of Kosovo,” she elaborated. In order to deal with the power deficit, the government declared a 60-day state of emergency in December which will allow it to allocate funds for energy imports and impose power cuts. Kosovo’s energy needs are mostly satisfied by its coal-fired power plants. During winter, however, demand surpasses supply and the Kosovo Energy Distribution Systems company is forced to compensate for the shortages with imports. At the same time, Gazeta Express notes, the global energy crisis has resulted in an enormous increase in electricity prices on the international market. Kosovo has seen the popularity of mining grow with crypto prices, especially in its predominantly Serb northern part where consumers in several municipalities have not paid anything for electricity in over 20 years. Earlier this year, Balkan Insight reported that the Albanian-controlled government in Pristina had ordered the country’s public utility to cover these bills for another six months while authorities are trying to find a permanent solution. Do you think Kosovo will allow crypto miners to resume activities once it overcomes its problems with electricity shortages? Tell us in the comments section below. View the full article

A draft of a new cryptocurrency asset law was introduced in Peru in December, seeking to regulate the cryptocurrency interactions that are already happening in the country. The draft law, besides defining what a crypto asset is and establishing the duties of virtual asset service providers (VASPs), also seeks to legalize the use of assets to incorporate and be held by companies. Peru Launches First Cryptocurrency Regulation Attempt A new piece of draft legislation called “Cryptoasset Marketing Framework” has been introduced in the Peruvian Congress under the number N° 1042/2021-CR, in the first attempt of the country to regulate cryptocurrency interactions. The project, which was presented December 10 by Jose Luis Elias Avalos, a member of the “Podemos Peru” parliamentary group, defines several key concepts in the cryptocurrency world, including crypto assets, virtual asset service providers (VASPs), blockchain, and cryptography. The law also proposes the creation of a public registry for VASPs, that users can consult anytime to find out if an exchange or platform is registered to do business on Peruvian soil. In addition, it establishes the conditions that each VASP must follow to operate lawfully in the country. The draft compels these companies to inform, in their contract of services to the user, that Peru does not consider cryptocurrencies legal tender, and that the supervision of these assets by the government constitutes no guarantee against the risks that operating with cryptocurrencies can bring to users. Crypto as a Tool to Found Companies The law further considers that crypto assets could be used to create and incorporate companies, and gives a legal base for these companies to hold crypto in Peru. In the first case, the proposal states that the value of the cryptocurrencies should be recorded at the moment of the constitution of the company. In the second case, the draft explains that if the company intends to sell them, cryptocurrencies should be considered inventory assets. In other considerations, they should be considered property or intangible assets. Peru is yet another Latam country that has jumped on the cryptocurrency regulation bandwagon, behind countries like Brazil, Paraguay, Venezuela, and El Salvador, which are working on — or have already established — cryptocurrency-specific laws. However, the proposed draft does not consider bitcoin legal tender, as El Salvador’s “Bitcoin law” does. The law went into effect last year, pushed by El Salvador’s president Nayib Bukele, who also predicted that two new countries would make bitcoin legal tender this year. What do you think about the newly proposed law to regulate crypto assets in Peru? Tell us in the comments section below. View the full article

The total quantity of gold held in reserves by central banks topped 36,000 tons for the first time since 1990, data from World Gold Council has shown. This increase follows growth in the banks’ reported holdings of the asset by 4,500 tons over the past decade. Dollar’s Decline a Boon for Gold The amount of gold held in reserves by central banks as of September 2021 grew to a new high of 36,000 tons for the first time since 1990. According to the World Gold Council (WGC), this increase in central banks’ gold holdings to a 31-year-high came after the institutions successfully added 4,500 tons of the precious metal over the past decade. In a report published by Nikkei Asia, the WGC attributes central banks’ growing preference for gold to the U.S. dollar’s decline. The report explains how the U.S. Federal Reserve’s significant monetary relaxation has resulted in an increased supply of U.S. dollars. This increase in the supply of dollars has, in turn, caused the value of the dollar against gold to drop sharply in the past decade, the report asserts. To support the theory that central banks are increasingly opting for gold, the report points to Poland, whose central bank is believed to have purchased about 100 tons of gold in 2019. Concerning the National Bank of Poland (NBP)’s purchase of the gold, the institution’s president Adam Glapinski is quoted by reports pointing to the fact that the precious metal is not directly tied to any nation’s economy and that this enables it to endure global unrest in markets. Gold Free From Counterparty Risks In addition to being relatively immune to violent changes in financial markets, gold is commonly thought to be free from credit and counterparty risks. This, according to the report, is one of the reasons why Hungary beefed up its gold reserves to over 90 tons. The report also suggests that central banks in emerging economies are similarly trying to limit or reduce their reliance on the dollar. In addition, these central banks are building up their gold reserves in order to limit their respective economies’ exposure to their depreciating currencies. Prior to 2009, many central banks preferred increasing their holdings of dollar-denominated assets such as U.S. Treasury securities with proceeds from gold sales. However, following the 2008 financial crisis that resulted in the outflow of funds from United States government bonds, confidence in the U.S. dollar dropped, the report said. As WGC’s September data suggests, gold is again becoming a tool used by central banks to protect their assets. What are your thoughts on this story? Tell us what you think in the comments section below. View the full article

While many celebrities have launched non-fungible token (NFT) collections, a number of NFT compilations have featured luminaries who have passed away. Legends such as Jerry Garcia, Kurt Cobain, Muhammad Ali, Elvis, Tupac, and more have been featured in NFT collections. This Saturday, Ethernity and Bruce Lee’s family will be dropping the renowned martial artist’s first NFT collection dubbed “The Formless Form.” ‘Be Like Water Making Its Way Through Cracks’ The Hong Kong and American martial artist, martial arts instructor, film star, and philosopher, Bruce Lee, is an extremely popular pop-culture icon. Lee is famous worldwide for his martial arts style and roles in a number of feature-length martial arts movies filmed in the early 1970s. On January 8, 2022, the Bruce Lee Family Company and the NFT protocol Ethernity, will be dropping Lee’s first NFT collection. Lee’s NFT compilation aims to “commemorate the life and legacy of the martial arts pioneer, philosopher, and global action film star,” Ethernity’s press statement explains. According to the announcement, the NFT collection was “ inspired by Bruce Lee’s philosophy and teachings.” Furthermore, the artwork stems from artists such as Bosslogic, Raf Grassetti, and Anthony Francisco. “My father believed in honest self expression,” Shannon Lee, the chairwoman and CEO of the Bruce Lee Family Company and the One Family Foundation said. Lee’s daughter continued: We’re honored for the opportunity to collaborate with these extremely talented artists whose artistic expressions will help continue to spread the positive message of Bruce Lee’s philosophy and teachings to the world in an authentic way. ‘Absorb What Is Useful, Discard What Is Not, Add What Is Uniquely Your Own’ The Bruce Lee NFTs follow a slew of renowned stars and celebrities that have passed away but are featured in non-fungible token art. During the first week of May, The Jerry Garcia Foundation, launched the first NFT auction featuring the late Grateful Dead guitarist’s art. That same week, Ethernity partnered with Muhammad Ali Enterprises (MAE) to launch the first Muhammad Ali NFT collection, and never-before-seen Muhammad Ali artwork transformed into an NFT was auctioned by Sotheby’s at the end of July. At the end of April 2021, never-before-seen photos of Kurt Cobain’s iconic last photoshoot were converted into an NFT collection. In mid-December, Makersplace revealed the first NFT collection based on Tupac Shakur’s most well-known jewelry pieces. Nick Rose, the CEO and founder of Ethernity said during the announcement that the team looks forward to providing Bruce Lee fans with the new NFTs. “We thrive off exploring opportunities for newly expanded worlds of important individuals, and an incredibly influential figure like Bruce Lee is a perfect fit for our great ambitions and endeavors,” Rose said. The Ethernity executive added: We can’t wait to give Bruce Lee’s fans new ways to celebrate his life’s work, towards which our team shares so many fond feelings. What do you think about Ethernity and the Bruce Lee Family Company launching an NFT collection inspired by the iconic martial artist and philosopher? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. Zug, Switzerland, 5 Jan 2022: For many years, getting a diploma from a university or other institution was the only way to prove you possess specific skills for a job. However, the question arises to what extent a diploma proves that a candidate is able to perform in a job. With the introduction of assessments and online development courses based on extensive scientific research, the means to measure and develop skills are increasing. This is a great innovation for both employers and employees. Employers can recruit more precisely based on the skills that are required for their specific jobs in an unbiased way. Employees also greatly benefit from this because they can find a job that fits their skill-set and preferences. Also, everybody gets a fair chance to get a job interview if personal characteristics such as age, cultural background, or gender are excluded from the matching process. Unlocking your digital skills passport Although assessments & development courses are a great innovation, it also introduces a new problem; several skill measurements and course certificates floating around in different online applications. Ideally, people can import every credential to a personal wallet that they can use during their entire career. Work X is using Self-Sovereign Identity and personal NFT’s that you can earn and use on the Internet of Jobs to prove you are the best candidate for the job! Because you are the sole owner of this data, you control with whom you share it. Tokenizing your skills & achievements Work X identifies work credentials such as diplomas, online certificates, references, peer reviews or assessment results as personal achievements. These personal achievements are linked to your digital identity using Self-Sovereign Identity, which functions as a token representing yourself; your anchor in cyberspace. Instead of losing the information related to your performance after employment, the data is stored safely in your personal wallet so it can be used to match with a new employer. This is both relevant for full-time employees who tend to give away all their data to an employer, as freelancers that only generate reviews and star ratings on gig platforms such as Amazon Mechanical Turk or UpWork. The personal NFT’s that are generated on Work X can be ‘booked’ instead of bought by employers who need a particular skill(set) for a job. People can showcase important aspects of themselves in many situations and offer their personal NFT’s for a wide variety of jobs on the Work X platform. Offer your services to code a smart contract, write an article or design a piece of art with a single click! You decide which aspects specific target audiences get to see and make your experience matter by increasing its relevance. The Work X platform facilitates everything that is needed to enable collaboration (e.g., payrolling, reviews, matching, curation & communication). To make sure that the personal NFT’s can be used everywhere, users are not tied to the Work X platform to prove the authenticity of their skills. Work X will function as an open platform where people can use their NFT’s to directly match with jobs. “Daniel de Witte, CTO & Co-founder of Work X, describes that by introducing a generic standard, other projects can also leverage this technology to free their users from often contained silos. Because Work X will also offer immersive collaboration within metaverse playgrounds, this generic standard enables true metaverse travel, not only with tradable NFT’s but also with something much more personal; your identity. Being able to showcase and switch between different sets of applicable achievements, skills, or experience, for different situations, people can quickly adjust themselves to whatever metaverse-world they want to travel.” Work X has recently successfully raised $1.8M and is about to launch the next round of its private sale. Apply for the whitelist here and to learn more about the project please visit: Website Whitepaper Twitter Medium LinkedIn Media Contact: Rik Rapmund Rik@workpi.com This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

A renowned economist who is a member of India’s Monetary Policy Committee says that a total cryptocurrency ban is difficult to implement and “would only increase illegal activities and participation in the darknet.” She believes that crypto assets should be regulated. Monetary Policy Committee Member Says a Complete Crypto Ban Is Difficult to Implement Ashima Goyal, a member of India’s Monetary Policy Committee, talked about cryptocurrency in an interview with PTI on Sunday. The Monetary Policy Committee (MPC) determines the policy interest rate required to achieve the inflation target. Goyal has served on several government committees, including the Prime Minister’s Economic Advisory Council and the Reserve Bank of India (RBI) technical advisory committee for monetary policy. She is widely published in institutional and open economy macroeconomics, international finance, and governance. Replying to a question about cryptocurrencies, she said they should be called crypto tokens instead, as they are not acceptable or adequate as currencies. In addition, she said they should be banned as legal tender, but regulated as tokens. Goyal added, “Only large transactions, from investors who are aware of the risks, may be permitted,” elaborating: A total ban is difficult to implement and would only increase illegal activities and participation in the darknet. In its recent meeting of the central board of governors, the RBI urged the government to completely ban crypto, stating that a partial ban will not work. The RBI also recently said that cryptocurrencies are “prone to fraud and to extreme price volatility,” stressing that they “pose immediate risks to customer protection and anti-money laundering (AML) / combating the financing of terrorism (CFT).” Currently, there is no law specifically for cryptocurrency in India but the Indian government is working on cryptocurrency legislation. However, a crypto bill that was listed for consideration in the winter session of parliament was not taken up. The government is now reportedly reworking the bill. Do you think that cryptocurrency can be completely banned by the Indian government? Let us know in the comments section below. View the full article

The co-founder and managing partner of Nexo, a major cryptocurrency lender, has predicted that the price of bitcoin will be $100K by mid-2022. He highlighted “two simple reasons” why he is bullish about the price of bitcoin this year. Bitcoin Expected to Reach $100K by Mid-Year Antoni Trenchev, the co-founder and managing partner of Nexo, a major cryptocurrency lender, has shared his bitcoin price prediction in an interview with CNBC Monday. He said: I think [bitcoin’s] going to reach $100,000 this year, probably by … the middle of it. Nexo has issued more than $6 billion in credit and manages assets for more than 2.5 million users globally. The executive explained that there are “two simple reasons” why he expects to see big gains in the price of bitcoin. Firstly, he pointed out that institutions are increasingly putting bitcoin in their corporate treasuries. The Nasdaq-listed company Microstrategy, for example, has bought 124,391 BTC for its treasury. Another reason is that Trenchev expects “cheap money” is here to stay, which would boost the prices of cryptocurrencies. The Federal Reserve is expected to raise interest rates several times this year. Wharton finance professor Jeremy Siegel recently predicted that “The Fed is going to have to hike many more times than what the market expects.” The Nexo executive added: I quite frankly think that as soon as we see a rate hike, it’s going to be a dip into equities and the bond market — and quite frankly, the last few years, we haven’t seen much political will to … power through any sort of correction in the traditional financial markets. Recently, the president of El Salvador, Nayib Bukele, also predicted that the price of bitcoin will reach $100,000 this year. Meanwhile, the CEO of Microstrategy, Michael Saylor, foresees bitcoin’s price reaching $6 million. However, some people are more skeptical about the price of the cryptocurrency, including Bridgewater Associates founder Ray Dalio. How high do you think the price of bitcoin will reach this year? Let us know in the comments section below. View the full article

China’s central bank has released its digital currency wallet app ahead of the Winter Olympics. The wallet app for the digital yuan, also known as e-CNY, can now be downloaded from the iOS and Android app stores in the country. Digital Yuan Wallet App Now Downloadable From iOS and Android App Stores China’s central bank, the People’s Bank of China (PBOC), has released a pilot version of its central bank digital currency (CBDC) wallet application. Developed by the PBOC Digital Currency Research Institute, the wallet app for e-CNY, also known as Digital Currency Electronic Payment (DCEP), is now available for download in the iOS and Android app stores in China. Previously, the wallet app was only downloadable via private links. The app is free to use. Mu Changchun, head of the PBOC Digital Currency Research Institute, said in November that about 140 million Chinese residents had opened a digital yuan account as of October 2021, with accumulated transactions reaching 62 billion yuan (US$9.7 billion) since launch. PBOC Governor Yi Gang said in November that China would continue to advance the development of its central bank digital currency and improve its design and usage, including increasing its interoperability with existing payment tools. Inside the digital yuan wallet app, there is a notice explaining that the app is in a research and development pilot phase. According to SCMP, new user registrations are limited to the areas undergoing digital yuan trials and through major banks that provide e-CNY services. The trial regions are Shenzhen, Suzhou, Xiongan, Chengdu, Shanghai, Hainan, Changsha, Xian, Qingdao, Dalian, and venues of this year’s Winter Olympics, hosted by Beijing. What do you think about China’s digital yuan wallet app available in iOS and Android app stores in China? Let us know in the comments section below. View the full article

The government of Estonia has approved legislation tailored to improve oversight of its crypto sector which expanded rapidly due to favorable regulations and business climate. The new law, which is yet to be adopted, will introduce stricter requirements for service providers without preventing their clients from owning or exchanging cryptocurrencies. Authorities in Tallinn Draft Stricter Rules for Crypto Service Providers The executive power in Estonia has prepared and approved draft legislation designed “to more effectively regulate virtual asset service providers (VASPs).” The main goal, the Finance Ministry explained on Sunday, is to mitigate the risk of financial crime through the crypto platforms registered and operating out of the Baltic nation. The new regulations, which come in the form of a revised draft law submitted to the Estonian parliament, require VASPs to identify their customers in a way that would link them to their transactions. The regulations expand upon the ban on open anonymous virtual accounts introduced in 2020 after Estonia’s crypto-friendly regulations attracted numerous license applicants. The Ministry of Finance pointed out that the legislation will not affect individuals who own virtual currency through a private wallet that is not provided by a VASP. It does not prohibit customers from holding and trading virtual assets and does not require them to share the private keys to their crypto wallets. At the same time, Estonian service providers will not be allowed to offer anonymous accounts or wallets. The department emphasized that the measures are similar to the rules applied to payment and banking transactions. The amendments transpose the recommendations issued by the Financial Action Task Force on Money Laundering (FATF) into Estonian law. These define some virtual asset services that are not defined under Estonia’s current legislation. Estonia to Raise Capital Requirements for Crypto Licensees An important aspect of the new regulation is the requirement for companies to operate or be connected to Estonia in order to obtain its licenses. The boom in applications was largely due to the current rules allowing the resale of Estonia-licensed companies to third parties. The supervision of such entities has proved unfeasible and authorities noted that under the new rules, the country’s Financial Intelligence Unit (FIU) will be able to decline such applications. Furthermore, regulators will raise share capital requirements for VASPs from €12,000 to €125,000 or €350,000, depending on the type of services. The Estonian government hopes that the threshold will reduce the number of dormant entities. The Finance Ministry also said the average annual turnover of licensed VASPs is now around €80 million euros. Estonia announced it’s working on the new legislation in October, when the head of FIU, Matis Mäeker, revealed in an interview that only one in 10 licensed crypto companies has a bank account in the country, adding that the regulator is considering revoking all previously issued licenses to restart authorization. By that time, the agency had revoked around 2,000 licenses of virtual asset service providers such as crypto exchanges and wallet operators. Do you expect Estonia to adopt the stricter regulations for its crypto industry? Tell us in the comments section below. View the full article

The total value locked (TVL) in decentralized finance (defi) has risen 4% during the first four days of the new year from $245 billion on January 1, to $255.84 billion three days later. While the defi protocol Curve Finance dominates with a TVL of $24.44 billion, Convex Finance is closing in on the dominance with $21.27 billion. Meanwhile, out of several blockchains, Ethereum dominates the defi TVL with 62.91% or $160.96 billion out of the aggregate $255.84 billion locked today. Defi TVL Increases 4% During the First 4 Days of 2022 Money is flowing back into decentralized finance (defi) and a number of defi tokens are swelling in value. Statistics from defillama.com show the TVL in defi hit a low of $228.13 billion on December 11 and since then, it’s jumped 12.14% in value. On the first day of 2022, the TVL in defi was $245 billion and it’s increased 4% to date reaching $255.84 billion on Tuesday. The $255.85 billion is tallied between numerous blockchains like Ethereum, Terra, Binance Smart Chain (BSC), Avalanche, Solana, Fantom, Tron, Cronos, Polygon, Arbitrum, Harmony, Waves, Ronin, Heco, Thorchain, Near, Smartbch, Elrond, and Osmosis. Ethereum’s TVL across 383 protocols is $160.96 billion today followed by Terra’s $19 billion across only 14 defi protocols. BSC commands $16.57 billion on Tuesday across 263 defi protocols. While Terra and BSC are the second and third-largest defi TVLs, they only represent 22.09% of the value locked in Ethereum defi protocols today. Terra has seen a 1.98% TVL increase during the last week, but Fantom jumped 28.96% to $6 billion, and Osmosis spiked 40.43% and crossed the $1 billion zone. Curve Dominates With 9.55% of the TVL in Defi, Fuse Jumps 183%, Top 7 Smart Contract Networks See Weekly Losses Metrics show that Curve commands the largest TVL in defi today across seven different chains with $24.44 billion and 9.55% dominance amid the $255.84 billion locked. Curve is followed by Convex ($21.27B), Makerdao ($18.28B), Aave ($14.62B), Lido ($12.48B), WBTC ($12.11B), and Instadapp ($10.88B). Today, the TVL in cross-chain bridges to Ethereum totals $24.67 billion, which represents a 1.5% change in 30 days. The number of unique addresses among the cross-chain bridge TVL in 30 days is 87,855 addresses. Polygon bridges rank the largest TVL on Tuesday with $6.6 billion, and Ronin has $6.1 billion. This is followed by Avalanche ($5.8B), Arbitrum ($2.8B), Fantom ($1.4B), and Optimism ($538M). The top seven smart contract blockchain platforms by market valuation are all down in value between 3.2% to 12.5% during the last week. The seven smart contract blockchain platforms include Ethereum, Solana, Cardano, Polkadot, Terra, Avalanche and Polygon. Meanwhile, the eighth through tenth-largest smart contract networks Chainlink (+5.3%), Algorand (+3.2%), and Near (+12.6%) have seen seven-day gains. The biggest smart contract network seven-day gainer this week was fuse (FUSE) jumping 183.6% against the U.S. dollar. Enigma (ENG) increased 48.8% in seven days and velas (VLX) swelled by 35.7% this week. Velas Network AG just partnered with the Italian luxury sports car manufacturer Ferrari. The largest smart contract platform loser this week was poa network (POA) shedding 49.8% in value, followed by cypherium (CPH) losing 37.8% in seven days. What do you think about the recent defi action this past week? Let us know what you think about this subject in the comments section below. View the full article

Less than 20 days ago, the German multinational sneaker and sportswear corporation Adidas launched the company’s Adidas Originals non-fungible token (NFT) collection and since then the NFT compilation has surged into the top 50 NFT collections in terms of sales. Adidas NFT Collection Sees Significant Demand in Less Than 20 Days At the end of November 2021, Adidas revealed it was “excited” about the metaverse and said the company had partnered with Coinbase and acquired land in The Sandbox. The following week, Adidas told the press it partnered with the Bored Ape Yacht Club (BAYC) NFT project, and the comic series Punks Comic. In mid-December, the company launched the Adidas Originals NFT compilation with Punks Comic, Gmoney, and BAYC. Since then the NFT collection has done well in terms of sales, propelling its way into the top 50 NFT collections. At the time of writing, the Adidas Originals NFT collection is the 49th-largest NFT project in terms of sales. Between 13,801 buyers and 10,732 sellers, the NFT collection crafted by Adidas has seen 18,092 transactions. Adidas Originals has seen 14,781 ether or $57.6 million in sales since the day it launched. Adidas Originals NFT Floor Nears 1 Ether, Collection’s Sales Still Small Potatoes Compared to Independent NFT Compilations Data from Dune Analytics is a touch different with Adidas Originals NFTs seeing 18,770 sales and an aggregate of 15,479 ether or close to $60 million. The current floor price for a single Adidas Originals NFT is 0.704 ether or $2,729. However, the average sale today is 0.747 ETH or $2,896 and the top sale on January 4, 2022, is 0.780 ether or $3,024. Metrics indicate that there are 17,976 unique ethereum (ETH) addresses holding an Adidas Originals “Into the Metaverse” (ITM) NFT. While Adidas is one of the first well-known brands and corporate entities to enter the top 50 NFT collections in terms of sales, a large number of independent NFT projects have seen a lot more demand. Axie Infinity NFTs have recorded $3.8 billion in sales, Cryptopunks gathered $1.8 billion, Artblocks acquired $1.1 billion, and BAYC just crossed the billion-dollar marker with 296,616 ether or $1,022,099,909 in all-time sales. The Adidas Originals ITM sales only equate to 5.63% of the total sales BAYC has recorded. What do you think about the Adidas Originals ITM NFT sales making it into the top 50 NFT collections? Let us know what you think about this subject in the comments section below. View the full article