Kategorie: Crypto Markets

Daily headlines and news about crypto markets.

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UK’s NFT industry expected to grow to $9,257 million by 2028

  • The United Kingdom’s NFT industry is expected to grow at a CAGR of 34.5% over the next 5-6 years.
  • NFT spend in the UK will increase from $1,725.2 million in 2022 to $9,257.0 million by 2028.
  • Increased adoption, government support and venture funding are key factors to that growth.

The global non-fungible tokens (NFT) market took a hit alongside the rest of the market in 2022, with sales volumes and creator revenue seeing a significant decline.

But despite the brutal crash that’s characterised the crypto sector throughout the year, the latest trends and projections suggest the NFT industry will continue to grow over the next six years. 

Key segments in the next few years will be collectibles and art, real estate, sports, gaming, fashion & luxury and utility.

UK’s NFT industry to grow at a CAGR of 34.5% up to 2028

2021 remains a benchmark year for various sectors, yet according to a recent Research and Markets NFT industry report, 2022-2028 would see growth at a CAGR of 34.5%.

The United Kingdom will see its NFT industry grow from $1,725.2 million in 2022 to $9,257 million by 2028. The forecast put the NFT Spend Value for the UK on an upwards trajectory of an annual 48% for this year.

The Research and Markets report highlighted on Thursday forecasts widespread adoption of digital assets across the country’s different user groups will spark even further interest in NFTs.

Among factors to aid the UK NFT industry is the increased participation from innovative startups, sports clubs and even real estate giants. Just recently, Premier League giants Manchester United unveiled their NFT collection, joining an industry that’s already boasting of major global brands.As previously reported, the soccer club partnered blockchain platform Tezos in February this year.

The growing recognition and support for the industry from the UK government is another factor, as is the rising number of investors backing NFT startups.

The post UK’s NFT industry expected to grow to $9,257 million by 2028 appeared first on CoinJournal.

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MicroStrategy buys another 2,500 BTC to bring total to 132,500

  • MicroStrategy reportedly bought approximately 2,500 BTC between 1 November and 24 December, 2022.
  • The company now holds 132,500 BTC acquired for approximately $4.03 billion.
  • MicroStrategy did however sell 704 BTC for $11.8 million on 22 December for what it termed as tax benefits.

MicroStrategy, a publicly traded company that’s the world’s largest corporate holder of Bitcoin, has reported buying more of the flagship cryptocurrency even as the market hit turbulence beginning early November.

As per the filing submitted on 28 December to the US Securities and Exchange Commission (SEC), MicroStrategy says it purchased an additional 2,500 bitcoins between 1 November and 24 December, 2022. 

Altogether, the software analytics and business intelligence firm purchased Bitcoin worth approximately $56.4 million in nearly two months and $4.03 billion in total.

MicroStrategy now holds 132, 500 bitcoins

As crypto navigated the turmoil caused by FTX’s collapse that had crypto price tapping new multi-year lows, MicroStrategy saw an opportunity to buy Bitcoin. In short, the company added 2,395 bitcoins worth $42.8 million to its holdings between 1 November and 21 December, 2022.

The total BTC acquisition in this period cost the firm $42.8 million at an average purchase price of $17,871 per coin.

On 22 December, 2022, MicroStrategy sold 704 bitcoins for $11.8 million. According to the company, the sale was at an average price of $16,776 per coin. Although the sale was at a loss, the company plans to offset the capital losses against capital gains made earlier.

Despite the BTC sale, MicroStrategy went to the market again on 24 December 2022. It bought another 810 bitcoins at an average price of $16,845 and for a total outlay of $13.6 million. By 27 December 2022, the company had added 2,500 bitcoins at a total cost of $56.4 million. 

As of this report, MicroStrategy had increased its Bitcoin holdings from 130,000 BTC at the end of October to 132,500 bitcoins by 27 December, 2022.

The recent purchases means MicroStrategy has spent $4.03 billion on acquiring BTC since its first purchase in 2020. The coins’ average purchase price currently stands at $30,397 per bitcoin. 

The post MicroStrategy buys another 2,500 BTC to bring total to 132,500 appeared first on CoinJournal.

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Trust Wallet introduces Cardano staking for iOS users

  • Cardano staking is now available for both Android and iOS users
  • Trust Wallet supports ADA staking directly from within its mobile app.
  • To stake Cardano, one needs a minimum of 4 ADA tokens.

Cardano users with iOS powered devices can now stake and earn rewards on the native ADA token, thanks to an integration by non-custodial crypto wallet Trust Wallet.

This is the latest development for the wallet, whose TWT, the native Trust Wallet token, gives users a vote in the project’s governance. The project recently launched an browser extension, allowing users to take control of their cryptocurrencies whether on mobile or PC.

Trust Wallet introduces ADA staking

Trust Wallet’s announcement highlighting support for Cardano staking for all users with Apple devices comes a few weeks after the company announced support for ADA staking on Android devices.

Integration with devices running on iOS means mobile users on the two major operating systems can now access the staking feature for Cardano directly in their Trust Wallet.

The process is easy and fast and the minimum staking amount is 4 ADA tokens.

To stake ADA, one needs to have access to the Trust Wallet mobile app. A user may need to buy Cardano if they do not already hold ADA. The next step is to go to the “Stake ADA” page in the wallet and select ‘stake.’ In the next step, a staking screen allows one to choose a validator.

The post Trust Wallet introduces Cardano staking for iOS users appeared first on CoinJournal.

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This week in crypto: SBF extradited to the United States

  • SBF is finally in the United States after signing an agreement earlier this year.

  • The SEC chair said the agency would continue cracking down on cryptocurrency companies.

  • Paxful removes Ether from their trading platform.

SBF is now in the United States

Sam Bankman-Fried, the former CEO of FTX, is now back in the US after he was extradited from the Bahamas earlier this week. He signed US extradition papers earlier this week and was moved to the United States on Thursday.

Following the extradition, SBF was issued a $250 million bail which he paid a few hours later. However, he still has a lot to answer for in the United States.

Earlier this week, former Alameda CEO Caroline Ellison and FTX co-founder Gary Wang pleaded guilty, after they were charged with committing fraud that resulted in the collapse of the FTX cryptocurrency exchange.

According to the US Attorney for South District of New York (SDNY) Damian Williams, this is likely not the last major development in relation to the FTX investigations.

The US SEC also announced earlier this week that it had charged Wang and Ellison for their roles in a multiyear scheme to defraud FTX equity investors. 

The SEC to continues its crackdown on crypto

The SEC chair, Gary Gensler, revealed earlier this week that the agency would continue to clamp down on cryptocurrency companies. He called for the regulation of crypto issuers and exchanges. 

In an interview earlier this week, Gensler said;

“Financial history would tell you that most of these tokens [native tokens of crypto exchanges] will fail. [Insiders] sell the public on an idea while they’re potentially fraudulently pumping up the stock. This leads to distorted incentives and puts the public further at risk of the token not being properly registered and having proper disclosures and complying with the various provisions of the securities law about anti-fraud and anti-manipulation.”

Paxful removes ETH from its platform

Peer-to-peer trading exchange Paxful announced earlier this week that it had removed Ether from its platform. The Paxful CEO  cited the prevalence of scams among Ethereum-based tokens as one of the major reasons why ETH was removed.

Tezos activates the Lima upgrade

The Tezos team announced earlier this week that it had completed the 12th upgrade on its blockchain. The upgrade, called Lima, introduces several new features while also reducing the risk of bugs in smart contracts.

Lima marks the fourth protocol upgrade in 2022 as Tezos seeks to improve its blockchain. 

Waves planning to launch another stablecoin

Waves already has the USDN stablecoin, but that might not be enough. The Waves CEO and founder, Sasha Ivanov, promised that he would launch a new stablecoin, one that cannot be deppeged from the US Dollar.

However, the CEO said the new stablecoin would not be launched until the USDN plan resolution is implemented. 

Binance.US acquires Voyager assets

BAM Trading Services Inc.’s bid (operating as Binance.US) was chosen by Voyager Digital LLC, the operating unit of Voyager Digital Ltd., to acquire its assets after reviewing strategic options.

Voyager Digital said it chose Binance.US because it wants to maximise the value returned to clients and creditors as soon as possible. The bid from Binance.US is valued at around $1.022 billion. 

According to Voyager, the bid consists of the to-be-set fair market value of its crypto portfolio, valued at $1.002 billion at current market prices.

The post This week in crypto: SBF extradited to the United States appeared first on CoinJournal.

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Metacade signs terms to list on BitMart

  • Metacade is expected to list on BitMart after signing the listing terms.
  • Metacade presale is currently in the Beta Sale stage.
  • The Beta round price of the MCADE token is 0.01 USDT for 1 MCADE.

After a successful Metacade (MCADE) presale amid the current crypto bear market, Metacade has today announced that it has signed the terms to get listed on BitMart, a leading crypto exchange ranked at position 21 by CoinMarketCap with an average daily trading volume of about $447M.

If the listing process is to be completed successfully, BitMart will be among the first cryptocurrency exchanges to allow its customers to trade the decentralized GameFi token that has been making headlines in the past month.

MCADE token performance so far

Before delving into the performance of the Metacade (MCADE) token, it is important to mention that Metacade is disrupting the crypto market as we know it by creating a decentralized GameFi hub that will bring everything related to Play-to-Earn (P2E) on one platform. P2E games have been such a hit within the blockchain and crypto world, which is likely the reason behind the great performance of the MCADE token at a time when even the likes of Bitcoin (BTC) and Ethereum (ETH) are struggling.

The MCADE token is currently in the Beta presale round and 54% of the available MCADE tokens have already been sold out raising a whopping $1,340,966. One MCADE token is going for 0.01 USDT and the price is expected to rise to 0.012 USDT for one MCADE token in the next stage.

The next phase for Metacade is expected to be highly exciting as gamers and blockchain fanatics collaborate, communicate, and participate in things like dynamic virtual hangouts on the platform.

The post Metacade signs terms to list on BitMart appeared first on CoinJournal.