MetaMask hits 10 million active users amid increased adoption of DeFi and NFTs, while South Africa's central bank says cryptocurrencies function as a store of value. 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.
Bitcoin and Blockchain Adoption
📍MetaMask user base reaches 10 million active users. The cryptocurrency wallet developed by the firm ConsenSys to serve as an entry into the world of Dapps and protocols DeFi marked a new milestone in the industry, surpassing 10 million active users for the first time. The wallet developers celebrated via Twitter about the exponential growth of MetaMask users in recent months.
By October 2020, the cryptocurrency wallet's user base was 1 million monthly active users, so growth has been exponential in less than a year.
📍Businesses in Venezuela enable payments with Axie Infinity's SLP token. The Latin American country is currently the second with the highest number of active players in Axie Infinity, so several shops and businesses in the country have begun to enable payments with its SLP token. Delivery Requested, a delivery and home shopping services company, reported that more than its 300 associated stores and businesses will begin receiving payments with the blockchain game token.
Smooth Love Potion (SLP) is trading at a value of $0,11 per unit at the time of this edition, showing a growth of 180% in its value in the last year.
NFT and DeFi Markets
📍Three Arrows Capital enters the world of NFTs with an investment fund. Su Zhu, CEO of the fund management firm, confirmed via Twitter that the firm is launching an investment fund for NFTs, where investors will be able to access the most valuable NFTs on the market.
The information was posted by Vincent Van Dough, an NFT collector, and confirmed by Zhu on the social network.
Miners
📍Shortage of chips for cryptocurrency miners drives up prices for Bitmain equipment. The Bitcoin mining equipment manufacturer reported that the price of these hardware devices will increase by 20% starting in the first quarter of 2022, due to the shortage of chips, one of the fundamental elements in the manufacture of these devices.
In March of this year, Bitfarms CEO Emiliano Grodzki, manifested that the shortage of chips for mining equipment was driving large mining pools and participants in this industry to place orders and purchase requests in advance to ensure their performance, profitability and future on the network.
📍Genesis Digital Assets acquires 20.000 new Bitcoin mining rigs from manufacturer Canaan. The news was revealed by Canaan, which published a release reporting that crypto mining company Genesis Digital Assets has placed a purchase order for 20.000 of its Bitcoin mining machines. Canaan claims that Genesis Digital wants to expand its BTC mining services in North America and the Nordic countries.
The mining equipment manufacturer is also offering Genesis Capital Assets the opportunity to purchase up to 180.000 BTC mining rigs in the future, the company said.
Cybersecurity
📍More than 100 thousand Coinbase users received a security notification by mistake. As reported by the exchange Through Twitter, nearly 125.000 users of the platform received an email informing them about a change in two-factor authentication (2FA) security, which sparked panic and endless speculation within minutes.
The company said the emails notifying that 2FA settings had changed were sent in error between 1:45 p.m. PST and 3:07 p.m. PST. Coinbase users are concerned about the exchange's security measures, as many have reported account takeovers and theft of funds in recent months. CNBC reported In recent days, nearly 11.000 users have filed complaints and claims against Coinbase with the Federal Trade Commission and the Consumer Financial Protection Bureau.
Rules and Regulations
📍The Central Bank of South Africa recognizes cryptocurrencies as a store of value, although they do not qualify as money. According to statements According to South African Central Bank Governor Lesetja Kganyago, cryptocurrencies are a class of digital assets that serve as a store of value for the future, but do not qualify as money, he said. The central banker acknowledged that cryptocurrencies have grown in adoption and serve as a means of payment and a store of value, but he ensures that they are not yet accepted globally, but only by people who want to participate in their system.
Continue reading: DeFi ecosystem loses another $30 million in flash loan hacks and exploits
