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Holders of SHIB can now use BitPay, a crypto payment processor, to purchase Koenigsegg hypercars with their holdings. Shiba Inu (SHIB) is making progress in this area, as crypto payments are also becoming more and more popular. In a recent tweet, BitPay declared its collaboration with Ashburn, Virginia-based luxury vehicle dealer Exclusive Automotive Group (EAG) to enable crypto purchases of high-end Koenigsegg hypercars.
Binance has acquired Sakura Exchange BitCoin (SEBC), a Japanese crypto exchange licensed by the nation's Financial Services Agency, for an unknown sum. With the purchase, the largest crypto exchange in the world joins the Japanese market, bringing the total number of nations where it has regulatory license to a sizable number. Japanese yen can be traded against 11 different digital assets like BTC, ETH, LTC, and ADA, through the Tokyo-based SEBC.
OpenSea announced on November 29, 2022, that the marketplace will now support the BNB Chain, enabling users to buy and list BNB-based NFT assets. The Ethereum, Solana, Klaytn, Arbitrum, Optimism, Avalanche, and Polygon networks are already supported by OpenSea. The BNB Chain will be deployed on OpenSea's Seaport Protocol in Q4 2022, providing multiple creator rewards, real-time payouts, collection management and benefits of BNB Chain creators.
The latest in a series of tests in tokenized financial markets, France and Luxembourg settled a bond worth 100 million euros using an experimental central bank digital currency. According to Nathalie Aufauvre, the Venus Initiative confirms that a well-designed CBDC can play a role in the development of a safe tokenized financial asset space in Europe and shows how digital assets can be issued, distributed, and settled within the eurozone, in a day.
A comprehensive regulatory framework for the usage and trade of crypto in Brazil has been adopted by the country's legislature. The new regulations, which were approved in Brasilia acknowledge bitcoin as a digital representation of value that can be used in the country as a means of payment and as an investment instrument. The bill, which covers a broad range of what it refers to as virtual assets, which is needed to become a law.
Phantom, a well-known self-custody wallet for Solana-based NFTs and decentralized apps declared today that its desktop, iOS, and Android apps would soon support Ethereum and Polygon. The business claims that as an alternative to centralized exchanges and businesses that handle sensitive user data, a simple self-custodial wallet which will be used to address crucial usability and security concerns in the market for digital collectibles is crucial.
Francis Suarez, the mayor of Miami, declared that despite the continuing market turbulence, he continues to accept bitcoin as payment. He further stated during a press conference after presenting at a conference, that he just bought some. Suarez, the head of the U.S. Conference of Mayors, first declared just over a year ago that he would make history by becoming the first American politician to receive his official salary in bitcoin.
The e-hryvnia that can be used in crypto exchange operations is described in one of the design choices for the Ukrainian CBDC. The National Bank of Ukraine has unveiled a concept for its prospective digital hryvnia central bank digital currency (CBDC). The central bank of Ukraine issued a statement on the idea of the electronic hryvnia, which as its main function seeks to replace both the cash and non-cash versions of the hryvnia.
Due to FTX collapse, bitcoin addresses holding up to 10 BTC have been accumulating record amounts of bitcoin. Investors appear to have had no problems with the cryptocurrency bear market or the fear, uncertainty, and doubt that surrounded the demise of FTX. According to a research published by the blockchain intelligence platform Glassnode on Nov. 27, smaller retail investors have grown more enthusiastic on Bitcoin and have begun accumulating more BTC.
According to Cardano CEO Charles Hoskinson, Elon Musk has the potential to introduce 200 million additional people to crypto with his recent acquisition of Twitter. Hoskinson claims that Cardano and three other Ethereum (ETH) rivals are competing to be the most scalable and interoperable protocol at the Web Summit 2022 conference. The industry's adoption is rising and Elon Musk's potential integration of virtual currencies like DOGE may provide another boost.
Bitcoin's Open Interest has surged by $1.8 billion as its price broke the $27,000 mark, indicating a strong influx of investor interest. Open Interest tracks the total value of Bitcoin futures contracts open on derivative exchanges, with rising figures signifying increased market activity and potential volatility. The recent jump from $11.04 billion to $12.81 billion suggests heightened trading and leveraged positions. The future direction of Bitcoin's price remains uncertain, with the surge potentially fueled by shorts covering positions or longs hoping for further gains. The funding rate suggests a balanced mix of long and short positions.
Morgan Creek Capital founder Mark Yusko predicts a bright future for Bitcoin (BTC) as institutional capital worth hundreds of billions is expected to enter the market. Yusko points to Bitcoin's historical trend of adding a zero to its price following each halving event, with the next one slated for April 2024. He anticipates a 1.5x increase from the current all-time high, potentially reaching $100,000. Additionally, Yusko believes Bitcoin exchange-traded funds (ETFs) will be approved by late 2023 or early 2024, leading to a substantial influx of capital into the cryptocurrency.
Citigroup has unveiled Citi Token Services, a permissioned blockchain platform designed for institutional clients, offering access to tokenized deposits, cross-border payments, and automated trade finance around the clock. This move aligns with Citigroup's goal of creating a 24-7, on-chain, programmable financial system. The partnership with Maersk enables instant payments through smart contracts, benefiting companies with numerous vendors. Citi Token Services also aids corporate treasurers in managing global liquidity more efficiently. Meanwhile, JPMorgan is reportedly still in the early stages of exploring a similar private blockchain service, lagging behind Citigroup's innovation.
Bitcoin is making a strong comeback, currently priced at $26,684 and holding over 50% of the total cryptocurrency market, boasting a market cap of approximately $520 billion. This milestone is significant as it contrasts with the stagnation or decline of many alternative cryptocurrencies (altcoins). Ethereum, the closest rival, sits at $1,632.09, with other altcoins showing modest gains or losses. Bitcoin's resurgence aligns with historical trends, often thriving during bear markets, cementing its status as a digital "safe haven." Despite gains, it remains below its peak dominance levels, but its return to prominence is noteworthy.
Animoca Brands subsidiary Darewise Entertainment is set to introduce the first-ever metaverse token on the Bitcoin blockchain. The token is aimed at powering a comprehensive ecosystem for gaming, brands, and real-world experiences. This move represents a significant expansion of Bitcoin's capabilities beyond a store of value. The metaverse token will facilitate in-game assets and virtual lands for the Life Beyond metaverse project, marking a new era for Bitcoin. Darewise Entertainment is partnering with Horizen Labs to develop and expand the Ordinals ecosystem on Bitcoin, with more innovations expected in the coming months.