Data from Blockchain Center shows that 2021 has been a year of altcoins, with over 80% of the top 50 cryptocurrencies outperforming Bitcoin over the past 12 months. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.
Cryptocurrencies and altcoins
📍Altcoins lead crypto market recovery to over $2,5 trillion Near Protocol (NEAR), Fantom (FTM), Aave (AAVE), SushiSwap (SUSHI) and Kadena (KDA), lead the bullish rally of the cryptocurrencies, this week, with a growth of more than 46% at the time of this edition. Although the two main cryptocurrencies in the market, Bitcoin (BTC) y Ethereum (ETH), have recovered a significant part of their value in the last 7 days, it is the altcoins that are trending again.
El index Blockchain Center’s report indicates that 2021 has been a year of altcoins, with more than 80% of the Top 50 cryptocurrencies outperforming Bitcoin over the past 12 months. The five best-performing altcoins this year have been Terra (LUNA), Axie Infinity (AXS), Polygon (MATIC), Solana (SOL), and Fantom (FTM), with returns of over 15.000%, the Blockchain Center website indicates.
Bitcoin and Blockchain Adoption
📍Funding for cryptocurrency custody companies exceeded $3.000 billion in 2021. Cryptocurrency and digital asset custody firms received close to 12% of the total funding seen in the crypto industry this year, The Block revealed in its 2022 Digital Asset Outlook report. According to the report, crypto custody firms received close to $3.500 billion in funding; growing by close to 300% compared to 2020 figures. The companies that benefited the most from this growth were Anchorage, NYDIG, Fireblocks, and Copper.
NFT and DeFi Markets
📍PricewaterhouseCoopers (PwC) invests in The Sandbox virtual land. The Hong Kong unit of consulting and auditing firm PwC announced the purchase of a virtual plot of land in The Sandbox, one of the largest metaverses built on the Ethereum blockchain.
With this acquisition, PwC becomes the first professional services firm to purchase digital real estate within a blockchain-based metaverse.
CBDC and Central Banks
📍Thailand to begin pilot testing of CBDC in 2022 Thailand's central bank announced that it will begin pilot testing of its central bank digital currency (CBDC) starting in the second half of next year. The bank said the trials will help assess the digital currency’s performance and usability in everyday transactions. In April this year, Thailand began holding public consultations to gauge interest in creating and developing a retail CBDC.
Miners
📍Lancium to build one of the world's largest crypto mining facilities in Texas The abundance of renewable energy sources such as solar and wind have made Texas one of the preferred destinations for cryptocurrency miners. Energy company Lancium has just announced an agreement with two cities in the state to install a Clean Campuses which will house one of the largest cryptocurrency mining centers in the world. The campus will initially have a capacity of 200 megawatts (MW), which could be expanded in the future to reach 1 gigawatt (GW).
Lancium will invest around $2.400 billion in the construction of the campus, which will focus on bitcoin mining and the development of other energy-intensive applications. It reported in a statement Press release, construction of this campus will begin in the first quarter of 2022.
Rules and Regulations
📍Senator Cynthia Lummis plans to propose a new cryptocurrency regulator in 2022. Bloomberg reported Pro-crypto US Senator Cynthia Lummis will introduce a proposal for guidance, regulation and oversight for the cryptocurrency industry next year. In her proposal, Lummis will include the creation of a new regulatory body dedicated to overseeing and regulating this growing industry, without undermining development and innovation.
Lummis' idea is to provide clarity to the crypto industry in order to boost its growth and development in the country. With her proposal, Lummis will provide clear guidance on the types of digital assets that exist in the crypto industry; in order to assist regulators in applying appropriate regulations. In addition, the senator also seeks to provide protection to cryptocurrency consumers and investors.
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