Crypto Espresso: Icy times have arrived in today’s quick shot of the latest crypto moves and news

Morning Coinheads!

Brrrr. Is it cold outside?

Bitcoin (BTC) remains above US $ 29,000, there may be bargains there at lower levels.

The price of BTC was $ 29,377 and the number 2 on the beach – Ethereum (ETH) – dropped the mark from $ 2,000 to $ 1,982 overnight.

The cryptocurrency market has yet to follow U.S. stocks that rose briefly on Monday after the former Nasdaq hit 1.6% during a rebound in the first week after technology stocks suffered a seven-week drop.

Let’s get into that.

Crypto gold: Bitcoin’s dominance is in a maximum of 12 months

The use of BTC as a safe haven for cryptocurrencies during the winter season has experienced a correct increase in the relationship between its market capitalization and the rest of the cryptocurrency market.

While the BTC continues to hover around US $ 30,000, the dominance of the major cryptocurrency over the digital asset market has jumped clear and is now just under 45% of the total market capitalization.

When conditions become bullish, traders go a long way in seeking faster profits in the decentralized finance (DeFi) landscape.

And as we are seeing now, a small shock in bearish territory causes traders and their capital to return to BTC.

The planned US cryptocurrency bill could alleviate the cold of Crypto Winter

A few weeks ago it was an icy wind, now the prospect of a US cryptocurrency bill could help end the winter of discontent for the industry.

U.S. Sen. Cynthia Lummis is at the forefront of her impending cryptocurrency bill, which she says could bring some order to the mess of the cryptocurrency ecosystem.

Senator Lummis says the framework of the bill is such that the cryptocurrency group, its various protocols and associated cryptocurrencies, can join traditional assets under similar regulatory conditions.

“We designed it to work within the usual framework for managing and regulating traditional assets … So, for example, bitcoin is a commodity, it would be under the Commodity Futures Trading Commission for trading purposes and the spot market and futures market.

“And then when something fits the Howey test, that makes it a security, it would be under the Stock Exchange Commission.”

Ethereum co-founder Buterin donates to UNSW, no longer a billionaire

It’s not that the two are connected.

Over the weekend, Vitalik B, the 28-year-old businessman and co-founder of the No. 2 most valuable cryptocurrency, said this:

Ether has already lost about 60% of its value after hitting a record high in November of $ 4,865.57. At the time, Buterin said it had $ 1.5 billion worth of ether.

Last week, Buterin donated $ 4 million in USD (USDC) coins to the University of New South Wales (UNSW) to support the development of a pandemic detection tool.

The capital is part of Buterin’s self-proclaimed “anti-COVID moonshot effort” called the Balvi Philanthropic Fund in collaboration with the Shiba Inu (SHIB) and Crypto Relief memecoin project.

The funds will further support the development of the Shiba Inu open source intelligence-based EPIWATCH tool, which uses artificial intelligence (AI) and open source data to create pandemic early warning signals.

Created by Kirby Institute chief Raina MacIntyre, the tool analyzes large amounts of data online, from social media to news-seeking changes that signal early disease concerns.

ECB: One in 10 EU urban homes now has crypto

The survey was conducted in major EU economic areas such as France, Germany, Italy, Spain, Belgium and the Netherlands.

On Tuesday, the European Central Bank (ECB) revealed that 10% of respondents in major EU economic areas such as France, Germany, Italy, Spain, Belgium and the Netherlands said they own cryptocurrencies.

Out of this group, only 6% of respondents said they owned digital assets worth more than 30,000 euros, while 37% said they owned up to 999 euros in crypto.

In all the countries surveyed, the richest 20% of the population had the highest proportion of cryptocurrency ownership relative to other income groups. I could even tell Christine Lagarde this, but whatever, Christine.

The Consumer Expectancy Survey asked adults aged 18 to 70 if they or anyone in their family owned financial assets in various categories, such as cryptocurrencies, and it was included in a new ECB study on the growing adoption of cryptocurrencies despite their factors. of risk. .

According to the Lagarde team, 56% of respondents in a recent Fidelity survey said they had some exposure to cryptocurrencies, compared to 45% in 2020.

The ECB says the increased availability of cryptocurrency-based derivatives and securities on regulated exchanges, such as futures, exchange-traded notes, exchange-traded funds and OTC-traded trusts, has contributed to the momentum.

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