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According to a study commissioned by software, networks, and services provider Ciena, workers and executives in Latam are willing to experiment with metaverse tools alongside their conventional work. A significant 60% of the 15,000 business professionals surveyed in 15 different countries, including Colombia, Brazil, and Mexico, said they would be open to working from a virtual metaverse platform.
Binance, the biggest cryptocurrency exchange in the world, has established a local entity in New Zealand and obtained a registration license from the authorities there. The most recent development is consistent with Binance's ongoing efforts to broaden the scope of its services. The announcement was made in a video that Binance CEO Changpeng Zhao posted, claiming that the exchange obtained registration to conduct business in New Zealand as a provider of financial services.
Decentralized gaming applications (DApps) on the blockchain saw a spike in user activity in September, with numerous games reporting notable increases in the number of active players. Data from DappRadar shows that over the past 30 days, seven out of the top 10 games in terms of "unique wallet addresses interacting with dapp's smart contracts" increased, with all of the top five games showing a profit.
MicroStrategy, a well-known provider of business intelligence and software, is seeking to hire a software engineer to work on the creation of a SaaS platform based on the Lightning Network. The company, according to its job listing, is looking for an experienced software developer for a new platform that will be created to provide businesses with innovative solutions to cyber-security challenges and enabling new e-commerce use cases.
The biggest telecommunications provider in Spain, Telefónica, is allowing customers to use cryptocurrencies to make purchases on its technology marketplace. After adding a payment option provided by Bit2Me, the biggest cryptocurrency exchange in Spain, the company enabled cryptocurrency purchases on Tu.com. In addition to investing in Bit2Me, Telefónica also announced that more information about the investment will be made public in the upcoming weeks.
According to Russian outlet RBC on September 29, the Bank of Russia and the Ministry of Finance are working together to draft a law that will regulate cryptocurrency mining with a particular emphasis on the locations where the activity should be permitted. According to the law's specifics, mining should only be permitted in areas with abundant energy sources, and it should be outlawed in areas with a dearth of electricity.
Ghana, a nation in West Africa, may soon catch up to other African nations in terms of cryptocurrency adoption as emerging markets take the lead. Researchers discovered that Ghana has the potential to reach crypto adoption levels comparable to Kenya and Nigeria, the nations that ranked 11th and 19th in the analytics company's Global Crypto Adoption Index, in a report published by blockchain analytics platform Chainalysis.
The majority of Bitcoin (BTC) investors seem to be betting on the likelihood that the asset will rise in value in the future despite the lengthy correction. Because macroeconomic factors outweigh the overall crypto market, investors are choosing the "HODL" investment strategy. According to data from Glassnode, as of September 29, the amount of Bitcoin in HODL reached a five-year record high, reaching 7,509,524.362 BTC, or $341.55 billion.
Legislation aimed at expanding the types of investments that administrators of 401(k)s and other defined contribution plans may make, including investments in digital assets, has been proposed by three congressional Republicans. The Retirement Savings Modernization Act would also release fiduciaries from any legal obligations when recommending investments in cryptocurrencies or other conventional financial instruments like hedge funds or private equity
The parent company of Facebook and Instagram, Meta, recently revealed a new advancement in its program for digital arts. On both platforms, users can now connect wallets and share non-fungible tokens (NFTs) across 100 nations starting from September 29. Users will be able to cross-post digital collectibles between platforms without incurring any fees as part of the feature, which has been in testing since May.
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.