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This year has seen a surge in whale accumulation and address activity on Chainlink LINK. As the bear market kicked in, Big whale addresses with 10,000-1 million LINK continued to accumulate tokens. According to the most recent data from the crypto-analytic site Santiment, this group of investors has added more than $312 million in LINK tokens to their wallets since March 3rd.
Interpol has announced the introduction of a fully operational metaverse, which will first be used for activities such as immersive training courses for forensic investigations. The INTERPOL Metaverse is the first-ever Metaverse specifically created for global law enforcement. Among other things, the platform will allow law enforcement around the world to engage with one another through avatars.
Finder, an Australian financial services firm, ran two surveys among its high-profile professionals to assess their views on bitcoin's future price. Bitcoin, The biggest digital asset, is expected to trade at around $21,300 by the end of the year, according to analysts. They are optimistic about the long-term value, predicting it to reach about $80,000 by 2025 and around $270,000 by 2030.
According to South China Morning Post, Hong Kong's regulators are considering allowing individual investors to directly participate in investing in digital assets as they take a different approach from the government of mainland China. The potential attitude change would coincide with Hong Kong's loss of financial technology talent, which would benefit Singapore, Hong Kong's primary rival, by undermining the territory's position as a hub for the crypto business.
Tether announced that it would make its USDT cryptocurrency, the leading stablecoin in the world by market capitalization available at more than 24,000 ATMs throughout Brazil. Brazilian ATM customers will soon have the ability to instantly convert reals into USDT and vice versa, as well as send their USDT anywhere in the world. Not only will this have a significant impact on the payments sector, but also on the entire Brazilian financial system.
According to research released this week by cryptocurrency data provider Kaiko, Bitcoin's 20-day realized volatility, a measure of the daily variations in price, has dropped below both Nasdaq and the S&P 500's level for the first time in two years. Bitcoin's 20-day realized volatility, a measure of the daily variations in price, has dropped below both Nasdaq and the S&P 500's level for the first time in two years.
Crypto assets have reportedly been recognized as financial product under the Financial Advisory and Intermediary Services (FAIS) Act of South Africa, according to a newly released government gazette. The term refers to any digital representation of value that is not issued by a central bank but can be electronically traded, transferred, or kept by natural or legal persons for the purpose of making payments, making investments, or obtaining other benefits.
In just seven days, Cardano's NFT volume has grown by 280%. There was a 280% increase in ADA NFT volumes between Oct. 10, when there were only 811,000, and Oct. 17, when there were 3.0 million ADA. Immutable X was moved to position four by Cardano's entry into the top three NFT networks. According to data from OpenCNFT, the number of NFT trades surged by 67% over the previous seven days to reach 48,384, while the number of NFTs sold increased by 65.27% to reach 45,668.
According to a document distributed by the investment company, institutional clients of Fidelity Digital Assets will be able to trade ether (ETH) starting on October 28. The action is the latest step taken by Fidelity, the parent firm of Fidelity Digital Assets, to make cryptocurrency accessible to institutional clients. The company announced earlier this month that it had launched a new Ethereum Index Fund for accredited investors after raising around $5 million.
Former CEO of MicroStrategy and executive chairman Michael Saylor has continued to praise Bitcoin's (BTC) capabilities, referring to the leading cryptocurrency as a path to freedom. Saylor further confirms that Bitcoin's decentralized structure transforms the asset into an economic machine based on the truth and addresses some of the inefficiencies in the conventional banking industry.
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.