DeCenter – Blockchain and Bitcoin

2021-11-29 20:28:27 The Metaverse is a $1T opportunity after users increase 10x: Grayscale report.

Crypto investment giant Grayscale has published a bullish report on metaverses, estimating that the “market opportunity” for bringing the metaverse to the mainstream may be worth over $1 trillion in the next few years.

The report highlights that metaverse platforms integrated with crypto tokens, decentralized finance services such as staking and lending, nonfungible tokens (NFT), decentralized governance and decentralized cloud storage have “created a new online experience” that’s rapidly attracting new users.

Analyzing “global all-time active metaverse wallets” data since the start of 2020, it found the user base has grown by 10x since that time to sit at around 50,000 as of June 2021.

“Compared to other Web 3.0 and Web 2.0 segments, Metaverse virtual world users are still in their early innings, but if current growth rates remain on their current trajectory, this emerging segment has the potential to become mainstream in the coming years.”

The report highlights that there’s no shortage of venture capitalists taking a punt on the sector’s potential. According to the report, fundraising totaled $1 billion for blockchain gaming in Q3. That represented 12% of total fundraising for the entire crypto sector in the quarter, ranking it as the “top sub-sector” within the Web 3.0 and NFT category. Open / Comment

2021-11-29 20:25:24 Today MicroStrategy bought another 7002 BTC or $414.4m with average price $59 187.

Total BTC balance eclipsing $3.5 billion. Open / Comment

2021-11-26 15:33:33 Bitcoin offers «Black Friday deal» with sub-$55K BTC price — Just like 2020

Bitcoin (BTC) may be down 20% from all-time highs, but this is a golden opportunity to “buy the dip,” analysts argue.

Black Friday is living up to its name in crypto this year as both Bitcoin and many altcoins are trading at their lowest in six weeks.

After an overnight sell-off sparked by a declining United States dollar and macro markets rattled by a new coronavirus variant, BTC/USD is trading near $54,000.

As mainstream media highlight the fall, others are far from concerned, however — current prices arguably offer a golden entry opportunity.

Others poked fun at a knee-jerk article from Bloomberg in which the publication initially declared that Bitcoin had “entered a bear market.”

On short-term targets, popular trader and podcast host Scott Melker warned over going with the herd, expecting even lower levels to buy. Open / Comment

2021-11-25 23:56:17 Russians transact $5B in crypto each year, Bank of Russia says

The Bank of Russia published a fresh review on financial stability on Thursday, pointing out the country’s growing role in the $2.8 trillion market.

Citing estimations reported by major local banks in July 2021, the Bank of Russia suggested that the total annual volumes of crypto transactions of the Russian population amount to $5 billion.

In the report, the Bank of Russia also noted that the Russian Federation is among global leaders in terms of visits to the Binance cryptocurrency exchange. According to data from the digital intelligence provider SimilarWeb, Russia is the second big in terms of total traffic on Binance after Turkey. Open / Comment

2021-11-11 23:10:06 Raoul Pal: Expect the ‘path of most pain’ around December and upcoming release of Ethereum 2.0 and an Ethereum ETF will extend the crypto market cycle.

Former Goldman Sachs hedge fund manager and Real Vision founder Raoul Pal believes that the social media pundits are wrong and that the crypto market cycle won’t end this year.

In a Real Vision interview on Wednesday, Pal predicted that the current bull run won’t end in December, as it did spectacularly in 2015 and 2017, and will instead extend to some time between March and June.

According to Pal, Bitcoin, Ethereum and altcoin markets are likely to “take the path of most pain,” potentially crashing twice over the next six months. Open / Comment

2021-11-11 22:36:26 E-commerce giant JD starts accepting China’s digital currency on Singles Day for the first time.

More than 100,000 people had used e-CNY on the company’s app during the Singles Day promotion period, which started on the evening of Oct. 31 and ends on Thursday.

Note: China’s digital yuan is not a cryptocurrency. It is a digital form of the country’s currency, designed to replace coins and cash in circulation. When formally rolled out, it will be issued via banks and other financial entities by the People’s Bank of China, the central bank. Open / Comment

2021-11-09 18:22:05 Tim Cook, Apple's CEO, said that he has bought cryptocurrencies.

“I think it's reasonable to own it as part of a diversified portfolio,” Mr. Cook told DealBook's Andrew Ross Sorkin, quickly adding that he wasn't giving investment advice. Open / Comment

2021-11-09 02:44:14 New ฿ all time high — $67 803
New Ξ all time high — $4 818 Open / Comment

2021-11-07 10:44:25 DeFi can be 100 times larger than today in 5 years, currently this sector represents only 0.1% of its maximum potential.

Decentralized Finance is a natural product made possible by blockchain technology and has the right and ready infrastructure to propel the technology to a bigger playing field. The space has grown by leaps and bounds since the Ethereum network went live in July 2015, with Ethereum network transactions growing by 33x to 1.2 million per day currently, and blockchain transactions would exceed millions per day if other chains were included.

Most of these transactions originated from the DeFi services such as Uniswap, which facilitates over $1 billion swaps each day, as well as lending and borrowing protocols such as Aave, Compound and BondAppetit, with tens of billions in market size. While these are large numbers by any standard, it is only a decimal point of the trillion-dollar traditional finance (TradFi) industry. Open / Comment

2021-11-05 23:29:18 NYC Mayor-Elect Eric Adams to Take First 3 Paychecks in Bitcoin

Incoming New York City Mayor Eric Adams said on Thursday that he will take his first three paychecks in bitcoin when he takes office in January.

«In New York, we always go big, so I’m going to take my first THREE paychecks in bitcoin when I become mayor. NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries! Just wait!» — Adams wrote in a tweet on Thursday. Open / Comment