Table of Contents
Welcome to today’s overview:
MARKETS
This weekend it looked quite positive at first. Unlike the previous one, which was shrouded in red, this time the BTC price tried to recover and performed relatively well. In fact, the BTC traded above $ 50,000 for a while on Sunday, which gave hope that there could be a more significant rally in the game.
Unfortunately for the bulls, as soon as Monday came, the situation looked gloomy again. After the price reached a maximum of $ 50,800 on Sunday, it fell the next day.
BTC fell to $ 45,750, which meant another massive daily red candle, and again it ruined our hopes for a proper recovery. BTC currently trades just over $ 47,000.
Altcoins don’t look any better. On a 24-hour scale, each of the top twenty cryptocurrencies (except stablecoins) is in red numbers. Approaching a seven-day scale reveals exactly the same thing.
BTC analysis – the price continues in the correction structure. Will he be looking for a new bottom?
ADA analysis – the price is at a key level, but it is still looking for a bottom
Cryptocurrencies
The BTC network settled a staggering $ 12 trillion in transactions this year
In 2021, the BTC network broke and set new records. According to CoinMetrics, BTC has settled more than $ 12 trillion in transactions since the beginning of the year.
Dan Tapiero, the founder and CEO of 10T Holdings, drew attention to the data, who welcomed the performance as evidence of hyperbitcoinization. Hyperbitcoinization is a term used by BTC proponents to describe the widespread adoption of BTC. Although Tapiero does not yet consider it a reality, he says that it is gradually happening, as was seen in 2021.
This record follows a previous record when BTC set a new historical record of $ 31 billion in daily settled transactions.
Banks, crypto exchanges, companies
Twitch co-founder is building a marketplace for NFT gaming
Justin Kan, co-founder of the Twitch live stream platform, has announced that it is launching Fractal, a new marketplace for NFT gaming. While the OpenSea NFT marketplace may be the largest, Fractal doesn’t compete directly with it – it bets on the gap in gaming NFTs.
The announcement comes days after the Twitch add-on was announced, which will allow streamers to offer viewers NFT rewards without having to leave the Twitch platform.
Fractal has already partnered with a game studio to drop the new NFT in the coming weeks on a platform that uses Solana’s blockchain. Players can purchase gaming NFTs directly from Fractal’s gaming partners and buy and sell gaming NFTs from other players.
The German banking group “Sparkasse” confirms rumors – it wants to launch a crypto-wallet
Sparkasse’s secret project has been confirmed – a network of 370 savings banks across Germany plans to give 50 million people access to cryptocurrencies. The country’s leading banking group is working to give clients access to cryptocurrencies directly from their current bank account, according to the daily Finanz Szene.
According to the report, the Spakasse would give customers access to BTC, ETH and other cryptocurrencies – without having to use any of the large crypto exchanges. This would reduce barriers for Sparkasse customers, who would not have to go through additional verification processes to use the cryptocurrency feature.
Tesla accepts Dogecoin as a method of payment
Tesla CEO (NASDAQ: TSLA) Elon Musk said on Twitter on December 14 that the company would allow the purchase of some of its products for Dogecoin (DOGE).
Musk, recently named Person of the Year by Times Magazine, said the company would “see how it goes.” Remarkably, Tesla’s CEO is a strong supporter of Dogecoin, a coin meme that has grown beyond expectations due to its support.
Tesla will make some merch buyable with Doge & see how it goes
– Elon Musk (@elonmusk) December 14, 2021
In addition, Musk recently said that Dogecoin is better at transactions than BTC.
CBDC, Regulation
According to a representative of the Bank of England, cryptocurrencies can pose a danger to the financial system
Bank of England (BoE) Vice Governor Sir Jon Cunliffe warned that the rapid growth of cryptocurrencies could pose a serious threat to the established financial system.
In an interview with the BBC, Cunliffe stressed that most of the risk stems from the volatility of digital assets, while acknowledging that cryptocurrencies such as BTC are increasingly entering the mainstream.
According to him, in the event of a sharp decline in the value of these assets, it will be up to the institution to manage the impact. To mitigate the risk, Cunliffe proposes enacting standard regulations that would regulate the sector.
Thailand’s central bank will push “red lines” despite pressure on tourism
The Bank of Thailand will issue a consultation paper on the “financial landscape” in January 2022. They will seek consensus on what call “red lines” for crypto-operators and businesses.
BoT Governor Sethaput Suthiwartnarueput specifically stated that cryptocurrencies as payment channels are one of these red lines and will not be tolerated. According to a report by the Bangkok Post on December 14, the new regulations aim to minimize risks for the financial system and ensure greater investor protection.
The central bank intends to start testing its own CDBC next year, so it is possible that Thailand will follow China and push the crypto currency aside in favor of its own, state-controlled currency.
