Several altcoins in the market are growing significantly as Bitcoin struggles to stay above $57.000 at press time. This and more news in this handy daily summary so you are always informed with those most recent events that happen within the crypto world.
Cryptocurrencies and altcoins
📍While Bitcoin struggles to maintain the 57K level, the value of ADA grew significantly this March 18. The cryptocurrency market leader, reached $60.000 per unit this Thursday, although it could not maintain its price and fell to $57.000 at the time of this edition. For its part, ADA, Cardano's cryptocurrency, reached the value of $1,48, marking a new all-time high, although it also suffered a correction that took its price to $1,24 at the time of writing this article.
Despite the fall of ADA this Thursday, its price has grown by 10% in the last week, and nearly 41% in the last month. Much of this bullish momentum is a product of the arrival of its futures contracts at various exchanges of the industry. Interest in ADA futures reached a high of 1.000 million of dollars this Thursday.
📍The token CHZ of Chiliz is rising considerably thanks to all the innovative ads and functionalities integrated by the blockchain-based sports trading platform. Chiliz allows professional football teams to launch Fan tokens with which users can access exclusive experiences. So far this year, this token has seen growth of more than 1.700%. And in one year its growth has been more than 11.300%, according to data shown by CoinGecko. At the time of this edition, CHZ is trading with a value of $0,64 USD and has a capitalization of 3,4 billion dollars.
📍LINK It is another of the crypto industry tokens that is gaining strength. For analysts, LINK, Chainlink's native token, is recovering significantly after having experienced a week of strong corrections and falls. At the time of this edition, LINK is listed on the markets with a value of $29,3 USD, after having fallen to $26 USD on Monday. So far this year, this token has grown more than 1.480%.
Bitcoin and Blockchain Adoption
📍Twitter will allow users of the social network to transfer and receive bitcoins through their tweets. The social platform is integrating with a payment app built on Lightning Network (LN) for users to send and receive bitcoins with a single tweet message. According to the app's developers, users will be able to send satoshis units to other users by writing a tweet. At the moment the payment app is in beta phase, and only integrates the fiat-to-crypto function on Twitter. Soon, the developers hope to integrate the app with other social platforms, such as Discord and Reddit.
📍The German bank Deutsche Bank published a report recent where he points out that Bitcoin has become an asset of great importance in the markets, impossible to ignore. According to the entity, the current market capitalization of Bitcoin makes the cryptocurrency much more attractive to investors and companies, so greater participation from interested parties is expected. Likewise, the bank stated that Bitcoin's volatility is far from disappearing, due to its scarcity and high demand. Given this, it is quite likely that the price of BTC will continue to rise, the bank said.
📍A study conducted by the market research and analysis firm, Harris Poll, indicates that 15% of families benefiting from the US government subsidy consider investing in Bitcoin prudent. Harris Poll applied a survey in which it reveals that almost 1 in 10 Americans who benefited from stimulus checks have used these resources to invest in Bitcoin.
NFT and DeFi Markets
📍The anonymous collector who bought Beeple's "Everydays: The First 5000 Days" reveals his identity. According to one publication blog on Metapurser, Vignesh Sundaresan is the real name of MetaKovan, the founder of the fund that paid $69,9 million for Beeple's work.
📍P&G is entering the non-fungible token craze (NFT) through his company Charmin. According to the Spanish President Pedro Sánchez’s announcement From the company, Charmin will launch an NFT collection consisting of 3 pieces of digital art that promote the company's “Enjoy the Go” campaign. The auction of the tokens will be done through the Rarible platform. Funds from the auction will be donated to the charity Direct Relief, dedicated to providing help to homeless and low-income people.
Development and Technology
📍According to a study carried out by the University of Malaga, the white paper or whitepaper of Bitcoin, written by Satoshi Nakamoto to describe the peer-to-peer (P2P) system that is Bitcoin, is the second most cited source by authors within research works. University researchers also noted that Blockchain is becoming an essential technology to enhance and support innovation in society.
📍The æternity blockchain announced the launch of a hackathon, called “Akshwani Hæck” to motivate developers to innovate oracle use cases within smart contracts (smart contracts). The hackathon will start virtually from March 31 to May 2 of this year. æternity seeks to support the discovery of new use cases for oracles, which can be implemented within smart contracts to enhance their functionalities. The organizers of the event will award $50.000 in prizes and the winners will continue to be eligible for development and innovation opportunities.
Regulations
📍The United States Securities and Exchange Commission (SEC) recognized the application submitted by the VanEck company for the creation of a Bitcoin ETF in the country. If the application is approved, VanEck would be the first company to launch an ETF on US stock exchanges. The SEC has 45 days to announce approval or rejection for the Bitcoin exchange-traded fund.
📍Ryan Selkis, CEO and founder of Messari, believes that due to the level of growth seen in cryptocurrencies and the digital industry, regulators will soon establish regulations for the sector in all parts of the world. Selkis believes that the rapid growth of cryptocurrencies may be at risk due to the possible arrival of a global regulatory framework.
“When the crypto industry looks like a toy, it is not a threat. When stablecoins reach PayPal volumes and become private, it starts to look like a weapon,” Selkis noted on his Twitter account.
Continue reading: Morgan Stanley about to launch investment funds that allow Bitcoin ownership
