Profits generated in the last year with cryptocurrencies such as Bitcoin and Ethereum exceeded 162.700 billion dollars; 500% more than those seen in 2020. This 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 stablecoins
📍Cryptocurrency investors made 2% more on Ethereum than Bitcoin over the past year. According to blockchain analytics firm Chainalysis, cryptocurrency investors generated more profits from their investments in Ethereum than from those in Bitcoin, the market-leading cryptocurrency.
In the past year, crypto investing generated fiat gains of $76.300 billion on Ethereum (ETH) and $74.700 billion in Bitcoin (BTC), a difference of 2% in favor of ether. Chainalysis attributed this to the boom in DeFi on Ethereum in 2021. In addition, the analysis firm indicated that the profits generated by investment in cryptocurrencies in the last year were 500% higher than those seen in 2020, surpassing the 162.700 million dollars in total.
The top three countries where cryptocurrency investors generated the most profits were the United States, with $47.000 billion, followed by the United Kingdom and Germany, according to Chainalysis.
📍The main cryptocurrencies on the market are correcting in the face of a possible rise in interest rates. US Federal Reserve Chairman Jerome Powell said the Federal Open Market Committee (FOMC) will discuss a possible 50 basis point interest rate hike in May.
According to data from CoinGecko, Bitcoin, Ethereum, Solana, Terra, Cardano, Avalanche and Polkadot, the main cryptocurrencies, of the market, have lost between 1,8% and 4,1% of their value in the last 24 hours. Bitcoin is trading, at the time of this edition, at around $40.500 per unit.
Bitcoin and Blockchain Adoption
📍Michael Saylor compares investing in MicroStrategy to a Bitcoin ETF. For the CEO of MicroStrategy, the business intelligence company that has become the largest institutional investor in Bitcoin worldwide, investing in his company is the closest thing to investing in an exchange-traded fund or Bitcoin ETF.
Saylor made these statements in a interview on CNBC, highlighting his strategy of investing all of his excess cash in BTC, which has earned him several million dollars in profits since he began investing in the cryptocurrency in August 2020. “We’re like their non-existent spot ETF,” Saylor noted.
📍Football fans in Mexico can now pay for tickets to matches with cryptocurrencies. Boletomóvil, the digital platform for purchasing tickets, is facilitating the use of cryptocurrencies such as Bitcoin as a means of payment for the purchase of tickets.
In Mexico, soccer fans will be able to attend the Tigres vs. América match on April 23 by purchasing their tickets with bitcoins. The ticketing platform has signed a partnership with a local cryptocurrency payment provider to facilitate the payment of tickets to sporting events using cryptocurrencies. The first exclusive tickets for the Tigres vs. América match sold out in less than 24 hours.
Innovation, Development and Technology
📍Andreessen Horowitz creates tools lab to boost cryptocurrency adoption. Venture capital firm Andreessen Horowitz (a16z) has created a new laboratory, called a16z Crypto Research, which will focus on solving the problems of the crypto industry and promoting the potential of blockchain technology.
Andreessen Horowitz's new initiative is a boost to the scientific advancement represented by Web3, a space for the development of ideas focused on computing, finance, economics and the humanities. Ali Yahya, a partner at the company, explained that since a16z Crypto Research They will support users in solving the main problems facing the crypto industry, with the aim of creating new tools that will further boost the adoption of these digital assets in the world.
Rules and Regulations
📍The UK's PRA, which oversees banking activity, will raise more than $400 million to strengthen its oversight of crypto. The UK Prudential Regulation Authority plans to raise $419 million from the country's banking institutions to strengthen scrutiny of the crypto industry.
According to Bloomberg reports that the authority is concerned about the accelerated growth of the cryptocurrency market and will therefore allocate the funds to hiring more staff to expand its supervision and monitor the risks posed by these digital assets.
The UK PRA plans to raise these funds by February 2023.
Image by JaGonzalez
Continue reading: Rumors about Bored Ape's metaverse send the price of its ApeCoin token soaring
