According to a survey applied to cryptocurrency users, 55% hold their digital assets as a long-term savings plan. This and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
Bitcoin and Blockchain Adoption
📍A survey published by Binance Research indicates that 55% of cryptocurrency users hold their assets as a long-term savings plan. The strategy known as “HODL” in the crypto industry consists of keeping cryptocurrencies saved for a long period, so that the initial investment increases exponentially over time.
In your report “Global Crypto User Index 2021”, Binance Research indicates 55% of crypto users apply this strategy in some way; keeping their bitcoins and other digital assets as an alternative for saving. The habit of saving in cryptocurrencies provides financial stability, in addition to helping to protect the value of money over time.
📍The Walt Disney Company, also known as Disney, will use blockchain technology to protect its film creations. In a recently shared announcement, Disney reported that the technology blockchain to protect its films, and prevent illegal distribution or piracy. Disney filed a license at the end of April to track the playback of its film creations and identify content that is being played illegally and without authorization.
Cryptocurrencies and altcoins
📍Polygon (MATIC), Cardano (ADA) y Left (LEFT) lead the markets with new all-time highs at the time of this writing. Both MATIC, ADA and SOL have seen impressive growth in recent days. In the case of the token of the scalability network of EthereumPolygon (MATIC) has grown by almost 80%, leading it to surpass a new all-time high of $1,85.
Cardano (ADA) and Solana (SOL) are showing growth of between 20% and 40%. ADA surpassed $2 on Friday and hit a new high in $2,45. For its part, SOL exceeded 5 dollars per unit and reached a maximum of $51,1 on Sunday.
📍Bitcoin (BTC) y Ethereum (ETH), the two main cryptocurrencies on the market, fell between 10% and 21% this week. However, experts indicate that corrections are a natural and healthy process for the future revaluation of these digital assets. Crypto investment expert Lyn Alden believes that BTC has solid arguments that support the long-term bullish cycle, so a value of $100.000 for the world's first successful cryptocurrency is still possible this year.
NFT and DeFi Markets
📍The success of NBA Top Shot, the video-based crypto collectibles platform NFT of the best plays in the NBA, is attracting the attention of regulators. In New York State, a citizen filed a lawsuit against Dapper Labs, the company responsible for developing the NBA Top Shot. According to the demand, Dapper Labs is trading non-fungible tokens as unregistered securities in the country. The lawsuit demands that the company register with the Securities and Exchange Commission (SEC) and pay it back a value in damages.
📍22 DeFi industry experts join GoodFi's advisory board. The coalition for the defense and protection of decentralized finance, GoodFi, announced that “Omakase”, Michael Zacharski, Alex Wearn, Isa Kivlighan, Kyle Lu and 17 other executives from the most important DeFi protocols in the industry joined the initiative, which aims to add 100 million people to the decentralized finance ecosystems in the next 4 years.
CBDC and Central Banks
📍JPMorgan is working with the Central Bank of Bahrain to develop secure and efficient settlement solutions. According to release The partnership, launched by the Central Bank of Bahrain, also involves the Arab Banking Corporation BSC. Together, they will develop a cross-border payment system based on new technologies that will allow for the introduction of an efficient solution and a digital currency. The entities said that in the future they would seek to extend the collaboration to central bank digital currencies (CBDC).
Miners and Cybersecurity
📍Argo Blockchain and DMG Blockchain partner to create a task force and new technology to ensure carbon emissions reduction from cryptocurrency mining. Amid the controversy caused by Elon Musk, who eliminated Bitcoin as a means of payment in Tesla 6 weeks after integrating the cryptocurrency, miners are increasingly looking for renewable energy alternatives. According to several experts, 75% of miners on the Bitcoin network are already using alternative energy systems. However, Argo and DMG aim to achieve zero carbon emissions by 0.
El working group Driven by these companies, which have a significant stake in cryptocurrency mining, it seeks to define and develop specific objectives to reduce carbon emissions, and also to create an innovative system that increases transparency in the supply of renewable energy to the crypto industry.
📍Blockchain forensics firm Chainlink notes that ransomware attacks have become quite profitable this year. Según un report According to a report by blockchain research and analytics company, ransomware attacks have earned more than $80 million so far this year.
Several affected companies, which have seen their data and information blocked, have had to pay ransoms or negotiate with cybercriminals to regain access. One of the most recent cases is that of the Washington DC Police, which is negotiating with a group of hackers to prevent part of its database, which contains highly confidential information about agents and informants, from being published on the Internet. Chainalysis points out that in 2020 these attacks earned 406 million dollars.
Rules and Regulations
📍The Financial Conduct Authority (FCA), the UK's financial authority, approve Digivault as the first independent custodian of digital assets in the countryWith the license received from the authority, Digivault can offer financial services with cryptocurrencies, and guarantee the authority and its clients and users compliance with regulations for protection against financial crimes, such as money laundering.
For his part, the deputy governor of the Bank of England, Jon Cunliffe, said that the UK may have to issue a CBDC digital currency in the coming years, before other non-state entities begin issuing their own digital currencies and risk the nation's financial stability.
📍BME, the Spanish Stock Exchange, is testing its new infrastructure, based on blockchain technology, to integrate small and medium-sized companies in the sandbox promoted by the country's Ministry of Economy and Digital Transformation since 2020. The BME's vision is to help small and medium-sized companies "obtain financing by issuing participatory loans and convertible notes represented as digital assets on a blockchain network," reported from Finextra.
IMPORTANT: Bit2Me News reminds you that before making an investment you must educate yourself and know where you invest your money, as well as the pros and cons of the system. Everything written here is for informational and educational purposes and should not, under any circumstances, be taken as investment advice or recommendations. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.
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