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28.12.[News of the day] • There were more than 100 million tweets about BTC in 2021 • and other articles

4 min read

Welcome to today’s overview:

MARKETS

In the last few days, the primary cryptocurrency has been thriving, reaching over $ 50,000. Over the weekend, it got even higher and approached $ 52,000.

The bears intercepted the move and in the following hours pushed it south, but the BTC refused to stay down. He began to regain value and again exceeded $ 50,000. Once again, it continued to grow and even touched $ 52,000, recording a new three-week high.

However, this effort did not last long, as BTC began to lose value somewhat quickly. In a matter of hours, it fell by more than $ 3,000 and fell below $ 49,000. To date, it has rebounded and is currently above $ 49,000, but still 2.5% lower than yesterday.

The Altcoins made significant gains yesterday, but most of them are deep in the red today. ETH traded for the coveted $ 4,000 for several days, but a 3% drop in the last 24 hours knocked the second largest cryptocurrency well below that level. [1]

BTC analysis – the price respects the $ 52,000 resistance. Which support must maintain?

SHIB analysis – the price is in the accumulation zone. Is it time to buy?

Cryptocurrencies

The richest man in the crypto outlines the biggest challenges for the industry

He identified growing tensions between regulators and crypto-companies as one of the key issues in the industry, with both sides increasingly frustrated. Bankman-Fried believes that there should be a single regulatory regime for crypto-enterprises, thus avoiding regulatory gaps.

The cryptocurrency also addressed scaling issues, arguing that existing blockchains were not fast enough for the crypto to gain mass acceptance. He added that not a single string had reached the required level of scalability.

To speed up mass adoption, Bankman-Fried proposes to use a gaming community that could potentially help embark billions of users. This means that there is a strong aversion to the crypt and the NFT in the gaming community.

Floki Inu imitation ended up as a Honeypot Scam

According to a warning issued by the blockchain security company PeckShield, Snowflake Floki, an imitation of the Floki Inu meme coin, is a honeypot scam.

As the name suggests, the honeypot scam traps users and forces them to buy tokens while making them impossible. Buyers’ money is thus effectively stuck in the contract because all withdrawals are disconnected. Fraudsters usually blacklist all other wallets except their own.

This type of fraud is not new. ETH traders have been struggling with honeypots for many years. Because Binance Smart Chain is much cheaper for issuing tokens, such scams have become commonplace in the popular smart contract blockchain.

In 2021, there were more than 100 million tweets about BTC

The intense bull series that BTC experienced this year pushed up not only its price. As the world’s largest cryptocurrency approached its all-time high, the eyes of the world seemed to be on BTC.

This is most evident in the analysis of social media posts, which show that there has been a huge increase in the public’s attention this year. According to the analytical company Visibrain, 101 million tweets containing the word “BTC” were published in 2021.

This represents a 350% increase over the volume recorded in 2020.

Banks, crypto exchanges, companies

Cirus Foundation is launching a web extension that allows users to capitalize on their cryptocurrencies

In these unprecedented times, data privacy rights and the monetary value of user data are emphasized over and over again, as data oligopolistic giants such as Meta (formerly Facebook) compete to be the first to give the world access to the metaverse. All this while using all the valuable information they have about you as a lever to move you deeper and deeper into their rabbit hole.

There is an alternative to this. Meta, Amazon, Google and their counterparts no longer have full control over your data and how it monetizes.

With the Cirus Foundation and the launch of its Google Chrome extension, people around the world can control and monetize their data themselves. And all this when paying in cryptocurrencies via the $ CIRUS token.

CBDC, Regulation

Binance has also obtained regulatory approval for the provision of crypto services in Canada

Binance, which operates the world’s largest crypto exchange, has been given the green light by its regulators in Canada to operate in the two countries.

On the same day as obtaining regulatory approval in Bahrain, Zhao also announced on Twitter that a separate entity, Binance, has been registered with the Financial Transactions and Reports Analysis Center of Canada. This entity, called Binance Canada Capital Markets, will offer services related to cryptocurrencies, exchange offices and money transfers.

In 2021, the US Congress submitted 35 bills related to cryptocurrencies

In 2021, the United States Congress introduced 35 bills on cryptocurrencies and blockchain technology. This year has been crucial for the industry in the United States, and much more emphasis has been placed on cryptocurrency control than in previous years. Most of the bills concerned the general regulation of cryptocurrencies, the application of blockchain and central bank digital currencies (CBDCs).

The best known of these laws was the Infrastructure and Investment Jobs Act, created by President Joe Biden and his administration. The draft law included a crypto tax rule, the proceeds of which will be used to finance the activities of this law.

Several other important bills are the Consumer Security Technologies Act, the Blockchain Innovation Act and the Digital Taxonomy Act. These bills concern the study of blockchain applications and consumer protection.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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