Morgan Stanley reveals to the SEC that it owns more than 928.000 shares in Grayscale's GBTC, worth more than $35 million, while Microsoft patents technology to facilitate the creation of NFTs. 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
📍Cardano and Avalanche are among the cryptocurrencies with the highest returns this week. Data provider CoinGecko shows that the value growth of both Cardano (ADA) and Avalanches (AVAX), exceeded 30% in the last 7 days. ADA reached a new all-time high of $2,95 per unit last Monday, while AVAX was close to breaking its ceiling with a price of $57,56 per token. The cryptocurrency Avalanche native reached its current all-time high in February, with a total value of $59,4.
Both cryptocurrencies maintain a market capitalization of $90.300 billion together, while the total cryptocurrency market is above $2,01 trillion at press time.
📍The Ethereum network continues burning ethers. To date, more than 105.500 ethers have been burned in the network. Ethereum (ETH) since the implementation of London and EIP-1559. The data from the EthBurned portal indicate that in the last hour the network has burned more than 340 ethers. Based on the market value of ETH at the time of writing, the token burn on the network exceeds $330 million.
Bitcoin and Blockchain Adoption
📍Morgan Stanley reports more than $35 million invested in Grayscale Bitcoin Trust (GBTC). The American megabank said to the United States Securities and Exchange Commission (SEC) that he owns a total of 928.051 shares in Grayscale's Grayscale Bitcoin Trust (GBTC) investment fund. At press time, each GBTC share is worth $37,82, so Morgan Stanley maintains an investment of more than 35 million dollars in Bitcoin (BTC), through Grayscale Investment's flagship product.
📍Venezuela is listed as the second nation in the world with the most active players in Axie Infinity. According to statistics from PlayerCounter, game popularity blockchain It has captivated a large part of the Venezuelan population, who now “makes a living” in the video game. PlayerCounter shows that in Venezuela there are more than 111.000 active players in Axie Infinity currently. The country with the highest number of connected players is in the Philippines, where the monetary authorities recently announced that players must declare winnings in the game.
📍Momentive reveals that young Americans have invested in crypto using government stimulus checks. Due to the pandemic, the United States government began to provide stimuli to the population to overcome the financial crisis. However, instead of paying for their basic needs, many of those who benefited have decided to trust cryptocurrencies as a long-term investment. The poll from Momentive and CNBC reveals that at least 11% used government stimulus to purchase crypto.
In May 2020, Bit2Me News reported that a significant portion of Americans were allocating stimulus checks to the purchase of different cryptocurrencies.
Development and Technology
📍Microsoft patents technology for the creation of NFTs. The United States Patent and Trademark Office (USPTO) approved the patent application by Microsoft, one of the most important technology companies in the world, on a technological tool that facilitates the creation of non-fungible tokens or NFTs for users. According to Microsoft's patent, the system will allow NFT tokens to be minted from pre-designed templates, which will greatly facilitate the creation of these tokens.
Thus, the “Microsoft Office” company transfers the essence of its Office programs and applications, which facilitate the creation of presentations, documents, spreadsheets and more through predesigned templates, to non-fungible tokens.
Rules and Regulations
📍Panama announces its first bill to regulate cryptocurrencies. The bill Presentado on Wednesday by Deputy Joseph Isaza before the Assembly seeks to regulate cryptocurrency mining at the national level, to encourage foreign investment, attract capital and generate new sources of employment in the country. Like Panama, Paraguay is analyzing a bill to regulate crypto mining. In both countries, lawmakers were prompted by El Salvador, the first country in the world to announce a bill to officially regulate Bitcoin, making it legal tender.
Since the president of this Latin nation revealed the Bitcoin Law, several politicians and legislators in the region have spoken out in favor of crypto assets and have begun to follow in their footsteps to regulate the industry.
Continue reading: Bit2Me signs Baldomero Falcones, former global president of Mastercard, to strengthen its future
