Cryptocurrency news for the week #10
In today's article, we will cover this week's news and highlights in cryptocurrencies and NFTS. A lot of news has come out this week showing lots of adoption happening. So make sure you read the full article to get the whole Gist on what's happening in the market and around the world. We will be covering multiple topics so I hope you enjoy it. Without furthermore let's get directly into the article.
Crypto news happening in the U.S
With NFTs and cryptos on the rise and street art being so liked in NYC, graffiti of various popular digital art such as Crypto Punks and Bored Apes are appearing around the streets of New York. NFT's aren't the only ones getting love in new york city as there have been reports of posters and flyers being pinned across the city showing the Shiba Inu coin. This type of guerilla marketing is one of the best marketing strategies for cryptos because this directly exposes the public to cryptos and NFT's. If they see it around constantly they are more likely to look into it and get into it. Down south we have Florida Governor vowing that his state will remain friendly to bitcoin innovation. Further cementing that the south will most likely be the silicon valley or wall street of cryptos. According to a Grayscale investor survey, about over 25% of Americans have already invested in Bitcoin.
The biggest news to come out of the united states recently is the congressional hearing congress held for cryptos, NFTs, and digital assets. When these types of hearing are held it is usually bad news as the tone or vibe of the hearing is usually not great or bad. But this congressional hearing was very much different this time. This time around the men and women of congress asked really good questions that seem to support the fact that the U.S I looking to adopt and regulate cryptos. This is really good news because if the U.S is having these discussions then that means the rest of the world is right behind them with adoption. Overall the congressional hearing has brought lots of good news to the U.S and it seems the U.S is on a good path for adoption.
International and global news
It seems like the international community is following the steps of America and attempting to adopt and regulate cryptos. This week it seems Africa is leading the way for adoption as many of the countries within the continent have had lots of news coming out from them. Most of the adoption comes from the southern part of Africa with South Africa saying it will have regulations for bitcoin by early next year. Then we have a Nigerian minister coming out and saying that bitcoin needs to be regulated within the
country. We also have brazil recently who have passed a bill to help clarify regulations surrounding bitcoin. But the biggest news coming out of South America is Colombia's largest bank partnered with Gemini to provide crypto trading. So it seems that even globally there is mass institutional adoption showing signs that the world is more and more becoming a crypto dominant world.
Companies and celebrities adopting cryptos
Visa is launching a consulting service that caters to banks weighing their own plans for cryptocurrencies, the company announced on Wednesday, leveraging its own crypto experience as the sector increasingly goes mainstream. This will help allow cryptos to become more mainstream and allow for more people to have some sort of access to cryptocurrencies. especially amongst those who are older and aren't as tech-informed as the younger generations. In big tech news Microsoft has led the funding on the Series B raise for a cryptocurrency startup. Microsoft's venture fund, M12, invested $27M into the crypto startup. Showing that even big tech is now getting into crypto and is trying to get ahead of everyone else. WhatsApp has launched a cryptocurrency payment feature for a small number of users in the United States, thanks to Novi integration, a digital wallet owned by Meta (previously known as Facebook). The program lets users of the messaging app send and receive money "instantly, securely, and with no fees" using the Paxos Dollar stablecoin, whose value is pegged to the US dollar.
In consumer news, Pepsi has released its first NFT collection on the Ethereum blockchain. The Pepsi Mic Drop collection features 1,893 assets, a number that represents the year the drink was founded. Each piece appears as a microphone icon that ties to the brand's history in music and pop culture, with designs inspired by various flavors they've had over the years such as including classic Pepsi, silver Diet Pepsi, and cult favorites like Crystal Pepsi. In gaming news, Ubisoft is officially getting into NFTs. The company announced a new platform, Ubisoft Quartz, where it will offer NFTs that it’s calling Digits. The Digits will be available first as in-game items like vehicles, weapons, and equipment in Ghost Recon Breakpoint. Ubisoft says that each Digit is unique, it will track who has owned it over time, and will have its own serial number that can be seen in-game.
In celebrity and influencer news we have news that Faze banks revealed he owns 9 crypto punks and 6 bored ape yacht club apes, reportedly worth $7 to 8 Million together. He believes the value of these NFTs will appreciate by the end of this year and beyond since they are highly sought after. Three virtual estates neighboring Snoop Dogg’s game space in The Sandbox have been sold for a collective $1.23 million. With the most expensive piece of land selling for $453,000. Snoop joined the metaverse in September with the launch of “Snoop’s Mansion,” an interactive game that allowed
fans to share experiences, attend live performances, and access exclusive NFTs. Overall it seems adoption amongst the 1 percent seems to be happening and I believe soon enough we will start seeing more of the public getting into NFTS especially gaming ones as gaming is one of the biggest industries in entertainment and is already seeing popularity amongst the crypto communities.
Cryptocurrency news and updates
As the NFT craze took over this year, people poured $26.9 billion into these digital assets in the first ten months of 2021, a report by blockchain analysis service Chain analysis found. NFT marketplace OpenSea took the crown as the most popular NFT buying destination, making up $16 billion, or nearly 60%, of all NFT transactions over the 10-month period. CryptoPunks came in as the most popular collection with a transaction volume of over $3 billion between March and now (12/14/21). In crypto news, the Bitcoin hash rate has made a new all-time high. Fully recovering from the Chinese bitcoin mining ban that came this summer. The network is stronger than ever, having risen by over 114% in five months to fully recover from the more than 50% drop after the Chinese ban. Continuing with the bitcoin news, one of the largest holders of Bitcoin just bought the dip adding 2,702 BTC to their wallet showing that the whales are anticipating a bull market which I agree with as I believe we will soon be seeing a bull run. None of that is financial advice in any way so don't take it as such just stating my personal opinion.
Crypto developer Charles Hoskinson is saying that his team is now preparing Cardano (ADA) for the era when quantum computing comes. Quantum computers are anticipated to provide the answers to problems that cannot be solved by today's computers. Some fear that quantum computing could threaten the crypto industry. This is because today's computers can't hack bitcoin. But quantum computers could because of how they process data. To break it down easily quantum computers basically compute differently than the computers we use today. The way they compute allows processing data faster which means it allows hackers to have unimaginable power. One part of that would be they could hack bitcoin which would be extremely bad news as this could destroy the market. However, as we see more cryptos are getting behind it to solve the issue and to preserve and secure cryptocurrencies.