Adidas is entering the Metaverse and hinting at collaborations with NFT projects like Bored Apes, while SAND and MANA lead the weekly cryptocurrency charts. These 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.
Cryptocurrencies and altcoins
📍The Sandbox and Decentreland exceed $12.000 billion in combined market capitalization. The value of token usage SAND and MANA, from the metaverses The Sandbox and Decentraland, grew by 70% and 17%, respectively, in the past week. Now, the combined market capitalizations of both metaverse tokens exceed $12.630 billion. According to data According to CoinGecko, SAND maintains a market cap of $6.367 billion at the time of writing, while the total value of the MANA token stands at $6.272 billion.
SAND and MANA daily trading volume exceeds $5.400 billion. Both tokens are among the top 40 cryptocurrencies in the crypto market.
📍Bitcoin price drops 8,3% to near $56.000. The price of Bitcoin (BTC) suffered a new drop that brought its value close to $53.700 per unit yesterday. The most important cryptocurrency in the industry was close to the 60K level before the weekend, but the emergence of a new Covid variant impacted its value. Ethereum (ETH), the second largest cryptocurrency on the market, also suffered a 12% drop in value. However, at the time of writing, both cryptocurrencies are recovering on the market, trading at around $56.500 and $4.260, respectively.
NFT and DeFi Markets
📍Adidas could partner with NFT projects Bored Apes, Punks Comics and Gmoney. German clothing multinational Adidas has purchased a plot of land in the metaverse The Sandbox, partnered with a major cryptocurrency exchange, and dropped hints about building its own virtual world, which could be called “adiVerse.” Now, the developers of popular NFT projects Bored Apes Yacht Club (BAYC), Gmoney, and Punks Comics are insinuating a possible partnership with the multinational. Through Twitter, the three projects have published avatars wearing Adidas clothing, with the company's well-known logo, accompanied by the logos of BAYC, Gmoney and Punks Comics.
CBDC and Central Banks
📍Central Bank of Tanzania joins the CBDC race. Florens Luoga, Governor of the Bank of Tanzania, revealed that the entity is preparing to issue its own central bank digital currency, known as CBDCLuoga revealed the news during the 20th Conference of Financial Institutions (COFI) hosted by the bank, highlighting that the issuance of a CBDC will help the country stay at the forefront of new developments and innovation.
In Africa, other countries such as Nigeria have already advanced their plans to issue their own blockchain-based digital currencies, so Bloomberg analysts they point out that the country does not want to be left behind in the crypt adoption.
Cybersecurity
📍Google warns about theft of cloud accounts for mining cryptocurrencies. Malicious actors continue to devise ways to mine cryptocurrencies using computing resources illegally. Google, the Internet services giant, recently warned about the hacking of Google Cloud accounts, which are being used by attackers to mine different cryptocurrencies. According to the report According to the company, the most affected cloud accounts are those that lack highly secure passwords, as well as user accounts that have downloaded untrustworthy third-party applications.
Rules and Regulations
📍Bank of France pushes for more oversight within decentralized finance (DeFi). Denis Beau, First Deputy Governor of the Bank of France, stressed the need to begin regulating the crypto industry, especially the ecosystem of decentralized finance or DeFi. During a speech According to a report published by the Bank for International Settlements (BIS), Beau noted that regulators must exercise greater oversight within the digital financial ecosystem. For Beau, current regulatory frameworks must adapt to this emerging industry, in order to regulate it directly. The official emphasized DeFi, pointing out that the operation of these ecosystems allows operations to be carried out without intermediaries, which are not easily identifiable.
📍Bank of England criticizes Bitcoin adoption in El Salvador. Bank of England Governor Andrew Bailey has added to the criticism and concerns about the Bitcoin Law in El Salvador, claiming that Salvadorans may not be fully aware of the volatile nature of the cryptocurrency and its implications. statementsBailey said the implementation of BTC as legal tender in the country could pose a serious risk to financial stability.
However, it is worth remembering that El Salvador is promoting several training plans to educate its citizens about Bitcoin and how it works. Also, the Latin American country reported that it will reform its school education program to include topics related to Bitcoin and Blockchain. Nayib Bukele, president of El Salvador, revealed a New purchase of 100 BTC, which add to the investment made by the country in the cryptocurrency since last September. El Salvador is using the profits generated by BTC for social investment, promoting the construction of schools and veterinary hospitals; in addition, it will build a Bitcoin City efficient and tax-free, funded entirely by a $1.000 billion Bitcoin Bond.
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.
Continue reading: Tokens.com invests $2,4 million to build brand empire in fashion district of Decentraland
