Raoul Pal revealed that he has bought and held ETH for the past 2 years and is evaluating the market opportunities offered by Bitcoin, scaling blockchains, DeFi, NFTs, the Metaverse, DAOs, and Social Tokens. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.
Cryptocurrencies, altcoins and stablecoins
📍USDC circulating supply on Ethereum DeFi protocols surpasses USDT for the first time. While USDT, the stablecoin with the largest market cap, maintains around $39.828 billion in Ethereum supply, USDC, the second stablecoin by market capitalization has more than $40.360 billion dollars within this blockchain network. data On-chain data shows that USDC is gaining ground on USDT as the most used stablecoin within the protocols DeFi of this ecosystem.
Bitcoin and Blockchain Adoption
📍Crypto guru Raoul Pal bolsters his portfolio with ETH. During a interview With CoinMarketCap, Raoul Pal, CEO of Real Vision and former manager at Goldman Sachs, revealed that he has been adding Ethereum (ETH) to his cryptocurrency investment portfolio over the past 20 months. According to his statements, he has plans to invest a little more in this cryptocurrency, although he is also analyzing the crypto market to study and learn about the new opportunities that other crypto assets can provide. Raoul Pal keeps about 98% of his investment portfolio in cryptocurrencies, as he reported in 2020 after selling all his gold holdings.
In the interview, Pal mentioned that interoperability and scalability networks, such as Terra (LUNA), Avalanches (AVAX) y solan (SOL) could see huge growth, as 2022 will be the year of DeFi, NFTs, and social tokens. As for Bitcoin, the crypto guru anticipates increased adoption by banks and at an institutional level; something that could push the price of the market-leading cryptocurrency to new all-time highs. Also, tokens related to NFTs and DAOs may benefit from increased adoption and utility this 2022, Pal noted.
📍Tonga has received over $11.000 USD worth of Bitcoin from cryptocurrency holders. The Kingdom of Tonga is receiving donations in Bitcoin since last Sunday. Bitcoin holders and owners have started donating BTC to an address created by Lord Fusitu'a, former Tongan lawmaker, to help citizens recover from the disasters and floods caused by the volcano eruption Hungarian Tonga-Hungarian Ha'apai and a tsunami. To date, the data On-chain transactions show that the address has received a total of 0,267 BTC from 209 transactions; worth $11.307 USD at the time of writing.
NFT and DeFi Markets
📍Crocs reveals plans to launch NFTs and crypto collectibles by patenting new software. The United States Patent and Trademark Office has received a software patent application from shoe manufacturer Crocs, where it revealed its plans to launch NFT and crypto collectibles in blockchain. According to application, the company wants to patent a new downloadable software designed for “create, manage, store, access, send, receive, exchange, validate and sell digital assets, digital collectibles, digital tokens and non-fungible tokens (NFTs)”.
Development and Technology
📍Game developer nCore Games raises $10 million in round led by Animoca Brands. nCore Games announced via its Twitter account the success of its Series A funding round, in which it raised a total of $10 million from investors such as Animoca Brands and Polygon Network, among others.
Rules and Regulations
📍Spain's National Securities Market Commission (CNMV) regulates the advertising of cryptocurrencies for investment purposes. In a release In a recently issued ruling, the CNMV stated that advertising campaigns with cryptocurrencies, aimed at investors, must be communicated to the regulatory body prior to their launch. According to the CNMV, cryptocurrencies are unregulated assets that can represent great risks for investors, so companies must also include adequate and sufficient information about said risks.
The new rules imposed by the regulator seek to ensure that advertising aimed at cryptocurrency investors contains “clear, balanced, fair and non-misleading information.”
📍The Monetary Authority of Singapore (MAS) bans open advertising of cryptocurrency financial services. On Monday, the MAS informed cryptocurrency and token service providers that open advertising of these digital assets has been banned in the country. According to the release According to the official, digital payment token providers or DPTs are not allowed to promote their cryptocurrency services to the general public. The regulation applies to companies licensed under the PS Act, banks and financial institutions that operate with crypto assets. With this measure, the Monetary Authority of Singapore wants to ensure the security of investors.
MAS noted that clients of regulated entities offering cryptocurrency products and services must be informed about the risks of trading these digital assets legally, under Notice PSN08 on Disclosures and Communications.
Continue reading: Brazil and Puerto Rico support the adoption of cryptocurrencies as a key to future innovation
