The developers of the VeChain blockchain announced the launch of the network's first native stablecoin, VeUSD, pegged to the value of the US dollar. This and more news in this handy daily summary so that you are always informed with the latest events occurring within the crypto world.
Cryptocurrencies and altcoins
📍The third-largest Bitcoin address stores over $5.700 billion worth of BTC. The third whale of Bitcoin (BTC), named this way because of the amount of bitcoins it owns, stores about $5.740 billion dollars in the cryptocurrency currently. As of today, this address holds a total of 121.217,5 BTC. The data On-chain data from BitInfoCharts shows that this BTC address added another 828 bitcoins to its balance sheet this week. As of December 31, the person or entity controlling this address held a total of 120.389,5 BTC.
Bitcoin and Blockchain Adoption
📍VeChain blockchain launches its first native dollar-based stablecoin, VeUSD. VeChain Tor, the blockchain and decentralized application development platform (DApps), announced the launch of its first native stablecoin, called VeUSD. The new stablecoin, which is backed by the US dollar, marks a new phase of growth and technical maturity for VeChain, currently the 35th largest project in the crypto industry by market capitalization. VeUSD is designed to make it easier for its holders and users to operate within DeFi protocols and Web3-focused projects, the developers said.
NFT and DeFi Markets
📍Opensea has moved more than $900 million in sales so far this year. In just 4 days, the sales volume within the market NFT Opensea has surpassed $900 million. According to data from the Dune Analytics platform, the NFT market, the most popular in the crypto industry, moved $910,3 million in sales of non-fungible tokens, with the Bored Ape Yacht Club, Mutant Ape Yacht Club and CriptoPunks collections being the most traded on the market.
In 2021, NFT sales volume on Opensea exceeded $15.650 billion.
CBDC and Central Banks
📍China tests its digital yuan on mobile phones. The People's Bank of China (PboC) has launched a pilot version of the e-CNY digital wallet to implement its central bank currency CBDC from mobile phones. According to local media, the trial version of the wallet became available to citizens of the country on Tuesday, who could access the app from their Android and iOS phones. From the app, users can open their accounts, manage their funds and make exchanges or swaps.
Miners
📍Canaan installs 10.000 new Bitcoin miners in Kazakhstan to expand its operations. Bitcoin mining equipment manufacturer Canaan is expanding its computing power on the Bitcoin network from Kazakhstan; one of the countries most appreciated by the network's miners for its abundant energy sources and industry-friendly legislation. Through a releaseThe company reported that it had a total of 10.300 AvalonMiner units operational in the country by the end of 2021; therefore, the installation of the new equipment will help strengthen its hash power and its mining expansion plan in the nation.
Canaan, which is headquartered in China, is one of many Bitcoin miners forced out of the country by government-imposed crackdowns in mid-2021. The company has entered into several agreements with local companies to completely relocate its facilities to the neighboring country.
Rules and Regulations
📍The Republic of Kosovo, located in southeastern Europe, prohibits Bitcoin mining. The Kosovo government has spoken out against Bitcoin and other cryptocurrency mining to ensure energy supplies to its institutions and populations amid an ongoing shortage crisis. According to reported the middle Express newspaper, the Technical Committee on Emergency Measures for Kosovo's Energy Supply, reported that energy demand has grown exponentially during the winter months, so BTC miners operating in the country must suspend their operations with immediate effect.
The Kosovo government’s actions to ensure electricity for its populations coincide with those of Iran, which again ordered the cessation of crypto mining to cope with energy shortages caused by winter. In both Kosovo and Iran, cryptocurrency mining has become an unstable activity that depends on the seasons.
Continue reading: China's Crypto Crackdown Strengthens Small Bitcoin Miners in Thailand
