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29.12.[News of the day] • The South Korean government is asking Apple and Google to block P2E games • and other articles

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Welcome to today’s overview:

MARKETS

It is only a few days ago when the situation around the primary cryptocurrency seemed significantly more optimistic. After several unsuccessful attempts, the asset exceeded the $ 50,000 mark and continued to map a three-week high at $ 52,000.

Here the situation changed dramatically as the bears strengthened. Instead of moving further north, BTC quickly began to lose value, resulting in a drop in price to $ 49,000. After this daily decline of $ 3,000, BTC just continued south. In the last 24 hours, BTC has reached the level of 47,200 USD, which is the lowest price point since December 21.

To date, the asset is just above this level.

The Altcoins suffered yesterday, and today the situation seems even gloomier. ETH slid below $ 4,000, but another 3.5% drop in one day knocked the second largest digital asset below $ 3,800.

Cryptocurrencies

The Sentiment Index again shows strong fear as BTC loses 9.5% of its value

The mood in the crypto market continues to sink deeper, as BTC is failing to recover after the last 9.5% drop due to increased stock market inflows.

The Fear and Greed Index reached 27, which appeared on December 21, when BTC tested the $ 47,000 support zone after continuously losing value since November 10.

Sentiment indicators, such as the Alternative.me index, are relatively often used by traders to determine micro-trends in the market. Due to the volatile nature of the crypt market, traders tend to change their sentiment according to BTC’s price action and reflect their sentiment in various sources, such as search engine trends, volatile trading decisions and volume.

The number of BTC wallet addresses created in November approached 1 million

Can retail investors return to BTC? Encouraging signals for the bull year 2022 reveal that Glassnode has added 913,000 new BTC addresses between November and early December this year.

A positive signal for BTC is that the analyst firm On-Chain College shared insightful data on retail user adoption and the potential beginnings of broader adoption trends. A key finding at the end of the year is that up to 1 million new subscribers joined the BTC network in November.

Despite a bearish price action in the short term, the flood on Twitter shows that the macro outlook for BTC remains healthy. According to the graph, from June 2020 to December 2021, the number of wallet addresses with a balance greater than zero increased from 30 million wallets to a contact distance of 40 million.

Banks, crypto exchanges, companies

Marathon has ordered new machines worth almost $ 900 million

Las Vegas-based BTC mining company Marathon Digital Holdings has ordered new machines worth $ 879.06 million.

The order was announced last week, but its purchase price was not published until Tuesday. The order includes 78,000 Bitmain Antminer S-19 XP mining machines, which will be delivered by 2022.

The shipment is divided into six batches, with 13,000 units delivered each month from July to December 2022.

Cardano-based DEX SundaeSwap announces completion of audit

SundaeSwap, a decentralized exchange based on Cardano, has announced that it has conducted a security audit in cooperation with Runtime Verification (RV). The audit helped identify several critical issues in the protocol. A detailed overview will be provided in a separate report, which will be available soon.

Pi Lanningham, chief information officer at SundaeSwap Labs, says DEX is now able to meet community standards.

The project will now continue to work with the RV on future updates once the audit is completed. According to Lanningham, this cooperation is “critical” to the long-term success of the exchange.

CBDC, Regulation

The South Korean government is asking Apple and Google to block P2E games

The South Korean government has asked both Apple and Google to block play-to-ear games in their app stores. Local media reported that the government had ordered both technology companies not to allow the issuance of “money-making games” until further investigation. The government also reportedly began monitoring blockchain-based games.

The Games Management Committee under the South Korean Ministry of Culture, Sports and Tourism has sent a letter to some operators to block the distribution of these games. They intend to do this by preventing the registration of these applications in the first place, so they turned to Apple and Google.

However, this is not a total ban. It seems that these games can be released, but they must first obtain a rating from the Game Management Committee. He will deal with age assessment, for example. The Games Committee has already unclassified 15 blockchain-based games this year.

Abu Dhabi is stepping up efforts to become a cryptohub in the Middle East

Abu Dhabi, the capital of the United Arab Emirates, is stepping up its efforts to trying to become a leading cryptocurrency center in the Middle East.

In an interview with Blockworks, Abu Dhabi’s chairman of economic development, Shorafa Al Hammadi, said the Abu Dhabi government had set a deadline of the end of this year to “facilitate the passporting of digital crypto-exchanges to ‘normal’ tools.”

According to Emmanuel Givanakis, CEO of Abu Dhabi’s Financial Services Regulatory Authority, the emirate is already one of the world’s leaders in developing a cryptocurrency-friendly regulatory environment as it created an initial framework in 2018.

“Even then, there was talk in the industry of the need to get under the regulatory umbrella, and we came up with what we consider to be a relatively complex framework.”

– said Givanakis in an interview with Blockworks.

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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