22.11.[News of the day] • Salvador will build the first “BTC City”, will be powered by volcano and other articles

Welcome to today’s overview:

MARKETS

After several consecutive days of depreciation, during which BTC fell 20% from its high to a monthly low below $ 56,000, the asset finally began to recover over the weekend. On Saturday, BTC jumped about $ 3,000 and on Sunday even approached $ 60,000. However, he failed to overcome it and the subsequent rejection drove him south.

Within hours, BTC had fallen by several thousand dollars and even plunged below $ 57,000. It rebounded quite well here and is currently close to $ 58,000.

Most altcoins have mimicked BTC performance in recent days, which means they are slightly in the red today. ETH rose above $ 4,350 yesterday, but a 3% drop brought it back to around $ 4,200.

Cryptocurrencies

Salvador will build the first “BTC City”, it will be powered by a volcano

Salvador will build the first “BTC City” in the world. The entire city will be funded by BTC bonds and powered by geothermal energy from one of the country’s many volcanoes, at least according to data released on the official presidential page of El Salvador on Twitter.

Speaking at a week-long event in support of BTC in the country, President Nayib Bukele said the city by the ocean would help boost investment in El Salvador and include airports, residential and social areas with a central square designed to resemble the BTC symbol from the air.

“Invest here and earn as much as you want,” Bukele said, comparing the plan to the cities founded by Alexander the Great. “If you want BTC to spread around the world, we should build a few Alexandria.”

LINK has become the most traded token among ETH whales in the last 24 hours

According to WhaleStats, Chainlink (LINK) has become the most traded cryptocurrency among Ethereum’s 1,000 largest wallets. The token volume reached approximately $ 2 million.

In the last 24 hours, whales have decided to trade Chainlink more than well-known tokens such as SHIB, CRO, OKB and others. According to the holding ranking, Chainlink ranked sixth with $ 380 million in holding among the largest wallets in the network.

In the previous week, the whales left most of their previously opened positions due to a global market correction that took place in both the BTC and altcoin markets. However, the SHIB token still remains the most popular whale token.

Banks, crypto exchanges, companies

Animoca Brands raised $ 5 million for NFT, Quidd

Quidd, a digital collectibles marketplace and Animoca Brands subsidiary, raised a total of $ 5 million in private pre-sales and DEX (IDO) initial offerings. Tokens were sold on November 18 in the Polkadot Polkastarter project incubator. An allocation of 2 million QUIDD tokens priced at $ 0.25 per token sold out in less than an hour and raised $ 500,000.

Earlier this month, ETH-based QUIDD tokens sold $ 4 million from investors including Binance Smart Chain Growth Fund, Genesis Block Ventures, Kingsway, Mind Fund Group Ltd, Sanctor Capital, OneFootball and others. During the pre-sale on November 3 at the Animoca Brands Launchpad, 1001 vouchers were sold in 22 minutes. Each voucher cost approximately $ 500, bringing the total pre-sale value to $ 500,000.

Indian cryptocurrency investors receive warning emails from banks

Indian banks have begun sending e-mails to crypto investors warning them of this asset class. This is the latest move by the banking sector, which rejects digital currencies.

According to local media reports, banks in India have begun informing cryptocurrency investors about the risks associated with this market. Large private banks such as HDFC Bank, Axis Bank and ICICI Bank have sent e-mails to clients who have invested in cryptocurrencies, which is motivated by the fact that crypto exchanges have launched a large advertising campaign.

Above all, they fear that this could lead a lot of uninformed investors to invest capital in a market that can be very volatile. They point out that these ads highlight high rates of return, which attract investors with little knowledge.

CBDC, Regulation

Bithumb crypto exchange has received approval from South Korean regulators

The South Korean Bithumb Exchange has been officially registered with the Financial Intelligence Unit (FIU). As a result, all four major exchanges in the country are licensed to operate virtual assets, including crypto cash transfer services.

On November 19, the FIU announced that it had registered the Bithumb stock exchange as an official trade in virtual assets. The other three major exchanges in the country – Upbit, Coinone and Korbit – have already been taken under the FIU, while the decision on the Bithumb business report has been postponed, approximately 75 days after the report. Some media attributed this to the ongoing lawsuit against Bithumb’s main shareholder, Lee Jung-hoon, after he was accused of fraud.

The British Advertising Office questions Floki Inu’s ads throughout London

The Floki Inu token advertisement, reviewed by Transport For London, has raised concerns among ASA and UK politicians.

The British Advertising Standards Board (ASA) is checking that advertisements on Floki Inu on London Underground buses do not violate advertising rules. Some politicians in the United Kingdom, including Sian Berry of the Green Party in London, have questioned the approval of these ads by Transport for London.

The ad displayed the following text: “Are you missing the Doge? Get Floki.” Floki Inu, the cryptocurrency-based Georgia entity, claims to have followed all the rules in its advertising campaign, which included disclaiming the risk of investing in cryptocurrencies, and condemned politicians’ efforts to censor such ads.