More investors are holding their bitcoins for the long term, Ark Invest said in its latest monthly report on the cryptocurrency. This and more news is in this handy daily roundup so you're always up to date with the latest events happening within the crypto world.
Bitcoin holdings hit a new ATH
📍Bitcoin investors are holding on to their cryptocurrencies despite the bear market. Even though the price of Bitcoin has fallen by more than half since its 2021 all-time high, investors are still holding the cryptocurrency for the long term.
According to the report The Bitcoin MonthlyAccording to Ark Invest, nearly 70% of the 19,4 million BTC in circulation on the market has not moved in at least a year or more. According to the firm, this confirms “a strengthened holder base.”
Source: Ark Investment
Glassnode also indicated that Bitcoin investors are increasingly determined to hold their cryptocurrencies as a long-term investment. On Twitter, the analytics platform indicated that “HODLing” remains the preferred dynamic for BTC investors. According to the platform, 13,4 million BTC are currently being HODLed, marking a new all-time high for the cryptocurrency.
The European Union wants to regulate the metaverse this year
📍Europe plans to regulate the metaverse this year. According to leaked documents, the European Commission is preparing a new regulation on the metaverse that promises to regulate this growing sector while promoting its innovation.
The Spanish firm FinReg, which announced the news, indicated that the metaverse is one of the challenges that the Commission wants to regulate in 2023. According to it, there are currently a significant number of metaverses and immersive technologies have had a fairly significant development. Even so, there is still no specific regulation that guarantees the security of users or mitigates the risks of monopoly by companies, among other problems. Due to this, the regulation that the EC is preparing for the metaverse will be focused on people, technology, infrastructure and the use of data.
Decentralized autonomous organizations, or DAOs, are also in the European Commission's regulatory spotlight, according to Crypto Insiders.
The digital dollar has great potential to optimize payments
📍The New York Fed completes the first tests of the digital dollar. A proof of concept test of the digital dollar by the innovation unit of the New York Federal Reserve concluded that the digital currency can bring great benefits to the current system. First, according to the test, significant improvements were observed in domestic and cross-border payments made with the digital dollar. Similarly, the dollar digital currency demonstrated a great capacity to improve wholesale payments, the agency said.
Tokenization and blockchain security were also evaluated in this study. According to Bloomberg, the New York FED was performing tests with the digital dollar over a 12-week period.
Despite the positive results of the proof of concept for the digital dollar, the New York Fed clarified that these will not influence the decision made by the FED on whether or not to issue the CBDC. Recently, the US central bank concluded a series of tests carried out on its new FedNow system with 57 companies and organizations.
Continue reading: Bitcoin and cryptocurrencies gain popularity among German investors
IMPORTANT: The content of this article is for informational purposes only and, in no case, what is written here should be taken as investment advice or recommendations. Bit2Me News reminds you that before making any investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. 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.
