Krypto-Miner, die im Jahr 2021 Kredite aufgenommen haben, sind im Jahr 2022 in Schwierigkeiten geraten.
UK Treasury publishes consultation paper for upcoming crypto regulation
- The UK financial services sector wants to be a leader in crypto regulation.
- The consultation paper addresses stablecoins, NFTs and ICOs.
- There however won’t be a separate regulatory system for the crypto space according to the treasury.
His Majestry’s Treasury has published an extensive 80-page consultation paper for the much anticipated crypto regulation in the UK.
The paper covers a wide range of crypto topics ranging from the problems with algorithmic stablecoins to initial coin offerings (ICOs), and non-fungible tokens (NFTs). It contains proposals for the upcoming crypto regulations in the United Kingdom that aim to position the UK financial services sector at the forefront of crypto regulations globally.
Generally, hardline crypto control measures have been gaining momentum across the globe especially following the rate at which crypto firms and projects are collapsing taking with them billions of dollars of investors’ money. By setting up proper crypto regulation, the UK could soon become a hub for cryptocurrency projects.
No separate regulations for crypto
While publishing the consultation paper, the Treasury also announced that there shall not be a separate regulatory system for cryptocurrencies. The proposed crypto regulations will fall under UK’s Financial Services and Markets Act 2000 (FSMA).
The Financial Conduct Authority (FCA) will customize the existing FSMA’s rules to accommodate the digital assets market.
Once the crypto regulations are set into place, crypto market players will be required to register afresh despite having done that earlier under the FCA licensing regime. But contrary to the earlier regulatory regime, crypto firms will not be required to make regular market data reports although crypto exchanges will be required to keep the data and make it available anytime.
Also contrary to earlier speculations, the UK Treasury has decided not to ban algorithm stablecoins. It has instead categorized them as “unbacked crypto-assets” instead of stablecoins. As a result, crypto promotions will have to exclude the term “stable” when marketing the algorithmic stablecoins.
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Krypto-Betrüger nutzen lockere Firmengesetze in Großbritannien aus
Aus einem Bericht geht hervor, dass Unternehmen sich in Großbritannien ganz einfach registrieren lassen können, was ihnen Glaubwürdigkeit verleiht, um Opfer leichter hereinzulegen.
January recap: Bulls back on top, but all eyes on the Federal Reserve
Key Takeaways
- Crypto banks best January in nearly a decade
- 68% of the Bitcoin supply in profit, compared to 50% at the start of January
- Correlation between Bitcoin and risk assets is close to all-time highs, with Federal Reserve’s interest rate policy continuing to hold the key
It’s important to celebrate the wins, huh? And wow, did crypto investors need a win. Following a year filled with bankruptcies, arrests, layoffs and red charts, the new year has got off to a nice little start.
In fact, January is crypto’s best month since 2013. Let’s dig in and look at summary statistics from the banner month, and get the lay of the land as we turn the page into February.
Funding rate positive
Opening the month at $16,600, Bitcoin closed out January trading at $23,100 for a cool 39% gain.
The funding rate is the price which traders pay to either long or short an asset on the futures market. If the funding rate is positive, it means long trades are dominant and long traders are paying short traders for positions. The vice-versa also holds, meaning a negative funding rate implies short traders are paying long traders.
This means that, while far from perfect, it is a decent gauge of market sentiment. Looking at the rate throughout January, it was positive on all but two days, as bulls ruled the roost.
Bitcoin traders are back in profit
The best way to sum up the fortunes of the crypto market this month is to look at the amount of supply in profit. Things ended pretty acrimoniously last year, with half of the 19.3 million circulating supply of Bitcoin in profit.
Fast forward 31 days and this figure is now up at 68%.
Road back is long
Of course, I wrote only yesterday about how severe the damage caused in 2022 was. This is not the case of a little tender care flipping the fortunes of the market around. The industry is still besieged by bad news, with layoffs and bankruptcies far from over, if the past couple of weeks is anything to go by.
Crypto, more than ever, is simply following macro. There is nothing else causing this rally. And with the US Federal Reserve meeting this afternoon to outline its latest interest rate policy, the bounce could be reversed pretty quickly, or even boosted further, depending on the words of chairman Jerome Powell.
Correlations remain sky-high
Don’t take my word for it. A quick look at the correlations at play here shows quite how much Jerome Powell is holding Bitcoin’s hand.
There’s an irony in there somewhere; a legion of crypto traders waiting nervously on the words of the chairman of a central bank to discover where Bitcoin, and the rest of the market, is headed. What was that about a hedge narrative?
And if the correlation between the market and Bitcoin was steep, you can bet your bottom satoshi that its even higher between Bitcoin and the rest of the market. Ever since we transitioned into this new era of increased interest rates around April 2022, the Fed has been holding Bitcoin’s hand ever tighter, and Bitcoin has been holding the hand of every other crypto.
Final thoughts
It’s been a stellar month for crypto, throwing up memories of the explosive runs it was capable of back in the good old days of the bull market.
With the Federal Reserve announcing its latest interest rate policy this afternoon, markets could show volatility, with impetus to this latest rally, alongside an abrupt curtailment, both on the cards depending on the tone that chairman Jerome Powell strikes.
In the long-term, the space is still reeling from the numerous negative events of the past year, and Bitcoin trading like a levered bet on the Nasdaq is far from ideal.
Despite fundamentals appearing similar to a commodity, and big dreams about the future, Bitcoin remains a highly speculative asset for now. And as for the rest of the crypto? Just copy and paste the Bitcoin analysis, while ramping the volatility up a notch (or three).
The post January recap: Bulls back on top, but all eyes on the Federal Reserve appeared first on CoinJournal.
Top Metaverse Crypto Projects Metacade (MCADE) and Decentraland (MANA) Price Predictions for February
One thing is becoming clear: legacy gaming titles won’t be able to match metaverse crypto projects in the future. The combination of advanced gaming experiences with integrated financial rewards is nothing short of revolutionary and has led to some bullish price predictions for top projects in the space.
The Metacade (MCADE) and Decentraland (MANA) price predictions are looking excellent for 2023. The question is, is the MCADE or MANA price prediction going to push higher?
Some of the best investment opportunities around right now are metaverse gaming projects
The top metaverse crypto tokens have made serious gains over recent years. Decentraland (MANA) rose over 200x from its launch date to its all-time high (ATH) in 2021. Now, a brand-new metaverse crypto called Metacade, which is in its earliest stage of investment, looks ready to make a similar move in the coming years.
The MANA price prediction is starting to look more bullish, as the wider cryptocurrency market begins its recovery from a long-term bearish trend. This trend saw the MANA price prediction fall significantly, with the MANA token losing 90% of its value from its ATH.
In contrast, Metacade looks extremely bullish over the coming months. The MCADE token recently launched its presale event, which has attracted over $4.5m worth of investment in an extremely short space of time.
MCADE is now looking ripe to produce major gains following the end of its token presale – but just how high could it go? Will it be able to flip MANA to become one of the most valuable metaverse crypto projects in Web3?
What is Decentraland (MANA)?
Decentraland is a vast virtual reality metaverse that allows users to buy and sell digital real estate. The parcels of land that can be purchased in Decentraland are fully customizable, meaning users can create any kind of digital experience they please within the virtual reality map.
Decentraland has become a leading metaverse crypto project due to its focus on user-generated content (UGC). The world has been divided into districts, allowing anyone to access a vast range of different experiences including Las Vegas-style gambling, NFT art galleries, and play-to-earn games.
Decentraland Price Prediction 2023: Will MANA reach $2?
The MANA price prediction is forecasting a trend reversal over the coming months. While MANA has found itself way below the $1 mark after a significant price drop, the MANA price prediction places the $2 resistance level as a key price target for the year.
What is Metacade (MCADE)?
Metacade is setting itself up to become the most exciting on-chain arcade. It is a metaverse crypto platform that will offer a growing range of thrilling play-to-earn experiences, alongside compelling earning mechanics that could make the platform extremely popular with Web3 users.
A key aim of the Metacade project, which is entirely community-driven, is to become a buzzing, social hub for all gamers and crypto enthusiasts. It aims to reward loyal content creators, connect users with job opportunities, and fund the future of blockchain gaming directly over the course of its development.
Without a doubt, Metacade has some incredible potential for future growth. As a comprehensive metaverse crypto platform that utilizes blockchain technology, it is well-positioned to deliver improved user experiences compared to the current gaming industry – a sector in dire need of a shakeup.
How does MCADE work?
Metacade will offer both casual and competitive gaming experiences to its users. Users will be able to play solo, progress through levels, and try to beat the arcade’s high scores, or even join paid entry tournaments for the chance to win generous MCADE prizes.
Furthermore, Metacade has an advanced incentive structure to create an industry-leading hub for GameFi alpha. Users will be able to earn MCADE tokens in exchange for simply sharing their insights, posting game reviews, and interacting with other users, with content creators being directly rewarded for their contributions.
For users looking to kickstart a career in Web3, Metacade’s Work2Earn feature will provide an invaluable service. From 2024 onwards, Metacade will incorporate a crypto jobs board for full-time job adverts. Prior to this, the project will also aim to offer part-time gig work and game testing opportunities where users can earn an income paid in crypto.
Metacade Price Prediction 2023: Will MCADE reach $1?
Metacade’s unique set of features makes it a well-defined and comprehensive metaverse crypto platform. It offers a broader set of services than the vast majority of GameFi projects, and this has led many to speculate that it could become a top 3 metaverse through market capitalization.
2023, then, looks like the year that MCADE starts to take off. The Metacade platform will be launched to the general public, the presale will be completed, and the MCADE token will be made available on exchanges. With that in mind, MCADE could post 50x gains and rapidly hit the $1 mark.
MCADE vs MANA price prediction: Which will grow more?
While the MANA price prediction has been bullish over recent years, it looks unlikely to overcome the expected surge for MCADE. The MANA price prediction forecasts 4x gains for Decentraland, while MCADE is expected to produce 50x returns at least.
Over time, Metacade could rival the top metaverse crypto projects around. To get involved, head over to the Metacade website and buy as many MCADE tokens as possible before the end of the presale. The price is set to rise from $0.008 to $0.02 during Metacade’s presale, and experts expect it to go up to $0.20 during 2023.
You can participate in the Metacade presale here.
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