The cryptocurrency market is stable, waiting for the catalyst to pave the way for digital currencies this winter. Bitcoin (BTC) is down 3.8% at $ 29,319 in the last 24 hours, data from CoinGecko shows. Ethereum (ETH) is down 4.7%, trading at 9 1,971.
In Brazil, the Bitcoin R fell 4.4% to $ 142,232, according to the Bitcoin Portal Index (IPB).
Notably, the cryptocurrency did not follow the entire US stock index on Monday, despite early gains in the Asian session. The S&P 500 closed at 1.8%, the Dow Jones rose 1.9% and the Nasdaq rose 1.5%, leaving investors a little more optimistic about the potential for use in the United States.
“We don’t have swings [esta semana]”We haven’t lost बल 48 billion in stablecoin and we haven’t received a presidential executive order,” Mark Connors, head of research at 3iQ Digital Assets, told CoinDesk.
Cryptocurrency investors seem to have taken a break. According to a report by CoinShares, the total managed amount of funds invested in crypto assets fell to $ 38 billion, the lowest level since July 2021. For the week ended May 20, digital asset investment products reported an outflow of $ 141 million. Bitcoin funds suffered the most, with withdrawals of $ 154 million during the period.
Seoul Metropolitan Police According to the KBS newspaper, the Luna Foundation is trying to freeze the Guard’s property after the TeraUSD (UST) stablecoin collapsed. Several cryptocurrency exchanges have been instructed to prevent LFG from withdrawing money. It is not known which brokers received the order or whether they complied with the measures.
A Financial Times report found that just weeks before the collapse, Benson advertised Terra’s anchor loan program, which attracted many investors to the UST and LUNA. On April 6, the exchange described the tokens on the telegram as “a safe and happy opportunity,” without warning of the risk, to get a 20% return, according to the paper.
Responding to the FT, Binance said it was re-evaluating projects like LUNA before advertising them.
According to Bloomberg, in Davos, the managing director of the International Monetary Fund, Kristalina Georgieva, made a clear case for the potential of crypto assets, despite recent unrest. Crypto World “offers all of you faster service, lower costs and more inclusion,” he said, highlighting the need to identify asset risk. According to Georgieva, it is the regulator’s responsibility to provide protection and information to educate investors.
Former central bank director Gustavo Loyola agrees. In an interview with E-Investidor, he defended the rules that prohibit the use of cryptocurrencies in financial crimes and offer “greater transparency in negotiations”.
The melting of the Terra Project ecosystem can already be considered one of the greatest milestones in the history of cryptocurrency.
But at least five previously considered promising assets reported more than 90% depreciation on Monday (23): Internet Computer (ICP), Filecoin (FIL), EOS, dYdX (DYDX) and LooksRare (LOOKS), according to data from CoinGecko and CoinMarketCap. .
The main altcoins traded in red this Tuesday (24) were Binance Coin (-0.2%), XRP (-3.6%), Cardano (-5.1%), Solana (-6.2%), Dogecoin (-3.8%), Polkadot. (-3.2%), Avalanche (-8.3%) and Shiba Inu (-3.6%), show data from CoinGecko.
Video Game Retailer GameStop Launched a wallet that will allow the storage, sending and receiving of cryptocurrency and non-fungal tokens between different crypto applications. It will support NFT trading with Gamestop’s upcoming NFT Marketplace launch, which is expected to launch sometime in 2022.
Controversial French brand Balenciaga According to the Wall Street Journal, the Spring 2023 fashion show was held on the floor of the New York Stock Exchange on Sunday, amid plans to start accepting Bitcoin and Ethereum in online shopping and some brick-and-mortar stores.
Chinese blockchain-based service network (BSN), funded by the Chinese government, launches an open-source blockchain in the international market in August. The Spartan Network tool will allow customers to access the network without the knowledge of technology and with a strong component of their mutual functionality, a BSN spokesperson told CNBC. There will be no financial tokens in the network as cryptocurrencies are banned in the country.
Defense firm Lockheed Martin and the Filecoin Foundation An open-source blockchain network could soon be made accessible in space, CoinDesk reported, as announced at an event hosted by Filecoin on the sidelines of the World Economic Forum in Davos.
Sumitomo Mitsui Trust The company plans to open this year to provide digital asset custody services to institutional investors, according to Nikkei Asia, an important step in building infrastructure to improve its position in the industry.
Regulation, Cyber Security and CBDCs
In order, Justice Maria da Penha Nobre Mauro, the 5th Business Court of Justice of Rio de Janeiro (TJRJ) in the capital, upheld a 180-day suspension of all actions and debt execution by a company owned by GAS Consultoria, Glaidson. Acácio dos Santos, “The Pharaoh of Bitcoins”. According to Agência Brasil, the company has 30 days to submit a court recovery plan.
In response to the Federal Reserve study, Wall Street banks argue that the US government should delay launching digital dollars because of the risk of draining hundreds of billions of financial systems. According to the American Bankers Association and the Bank Policy Institute, the US Federal Reserve will be a direct competitor to digital currency, or CBDC, for private bank deposits, which could reduce credit to businesses and families.
For the European Central BankCrypto asset links with banks pose a threat to the economy, but according to the Financial Times, the company plans to launch a prototype of the digital euro by the end of 2023.
Twelve percent of adults in the United States Owned cryptocurrencies in 2021, according to a study by the Federal Reserve. According to CoinDesk, the first annual survey of 11,000 people shows that Americans have little interest in crypto as a currency and are large investors. Only 3% of respondents had paid or sent crypto in the previous year, while 11% had invested in this asset.
ECB Also published research on cryptocurrency. An average of 10% of households in the eurozone have cryptocurrencies, 6% in France and 14% in the Netherlands, for example, according to Reuters.
Metaverse, games and NFTs
Enthusiastic magistrate of Metavers The new technology could be an option for virtual audiences, the Folha report highlights. Technology already allows the doors of the judiciary to open to a wider audience through lectures and visits.
The Mothers of the See NGO Put up for sale a non-fungible token with a photo of Fabiana Esperidião da Silva, who disappeared in Sao Paulo in 1995, at the most expensive price allowed on OpenSea: more than R $ 900 quadrillion, according to Veja. For this price, the expectation is not to sell NFT, but to warn of the “incomparable” value of the lives of lost children in Brazil.
The third season of the Love, Death + Robots series Netflix premiered last Friday (20) and came as a surprise to crypto enthusiasts: the discovery of NFTs hidden in the product world, which can be supplemented by QR codes spread across the digital and physical world.