Cryptocurrency facts you should know.

The cryptocurrency market has grown from less than $200 billion to almost $3 trillion in 2021, attracting a flood of new crypto investors. But then it all collapsed in the first half of 2022. While the crypto market is still worth around $900 billion, over the past few months the risks have become quite clear to investors attracted to this new asset class. That’s why it’s more important than ever for investors to do their due diligence and understand what they’re investing in. If you are thinking about investing in cryptocurrencies, you might be interested in new facts and features of cryptocurrencies.

Top 5 facts you should know

The value of the cryptocurrency market, for the first time in its 12-year history, exceeded $1 trillion.

In November last year, the value of one of the most popular cryptocurrencies, bitcoin (BTC), reached an all-time high of $68,789. This year, its maximum price exceeded $48,000 (January), while its minimum price fell below $18,000 (June). The market capitalization of bitcoin crossed the $700 billion mark for the first time, and the combined market capitalization of all cryptocurrencies now, according to the Independent, exceeds the combined value of payment systems such as Mastercard and Visa. According to expert opinions, digital currency will become more and more attractive for institutional and private investors, and its value will grow.

However, the Independent reminds us that cryptocurrency is still volatile. So, on January 11, 2022, there was a sharp collapse in quotes: the bitcoin price fell by almost $10,000. But then it began to grow again and, at the end of trading on January 14, amounted to $36,000. But, according to some experts, a sharp increase may be followed by a decline. “If we see large investors throwing bitcoin into the market, the price of it could drop to $20-23 thousand,” says Simon Peters, senior analyst at the online social trading platform eToro. Michael Hartnett, the Bank of America chief investment strategist, also points to a possible collapse. He called bitcoin “one of the biggest financial bubbles” and warned that a sharp increase in value could result from speculative mania.

However, Bitcoin’s price as of 08/03/2022 was $ 22,839, and its market capitalization was almost $445 billion.

During the past few months, the value of other cryptocurrencies, including Ethereum, Litecoin and Bitcoin Cash, has also risen. For example, the price of Ethereum, the second largest cryptocurrency by capitalization, has grown by more than 600% over the year – now, its value exceeds $1.2 thousand. Ethereum, as an open platform with a built-in programming algorithm, allows developers to create their blockchain applications. It was created by Russian programmer Vitalik Buterin and launched in 2015.

Ripple has become an exception for the growing digital currency market: over the past month, its value has more than halved. As a result, the US Securities and Exchange Commission (SEC) accused the company of violating the Securities Act, passed in 1933. The SEC claims that Ripple has raised more than $1.3 billion by selling unregistered securities under the guise of digital assets.

The first federal cryptocurrency bank appeared in the USA

The American startup Anchorage, which offers digital currency custody services, has become the first federal-level cryptocurrency bank in US history. The company received a special license from the Office of the Comptroller of the Currency (OCC) of the Department of the Treasury. Anchorage President Diogo Monica noted that the company is a national bank, but unlike other financial institutions, it works with cryptocurrency assets. He added that after obtaining permission from the OCC, Anchorage would be subject to federal laws and not the laws of individual states, which will significantly facilitate its operation.

In September 2020, the American cryptocurrency exchange Kraken also received a banking license. Now the company’s clients can use digital assets to pay bills and investments and receive a salary from them. The company currently serves customers in Wyoming. But, first, she hopes to become a “bridge” between the cryptocurrency market and the traditional economic system and scale her activities to the world.

20% of existing bitcoins are stored in wallets whose owners do not have access to them

According to Chainalysis, an analytical company that studies blockchain technology, there are more than 18.5 million bitcoins worldwide. However, 20% of them, totalling $140 billion, are in lost or blocked wallets. According to The New York Times, many became cryptocurrency owners ten years ago, when bitcoin first appeared and was worth nothing. However, the sharp rise in the value of the cryptocurrency has forced wallet owners to become more active. Digital critical recovery company Wallet Recovery Services receives about 70 requests daily, three times more than in December last year.

So, a programmer from San Francisco, Stefan Thomas, told reporters that he had lost the password to the hard drive, which stores 7,002 bitcoins, or more than $260 million at the current rate. The storage device allows you to enter the wrong password ten times, after which it is completely blocked. Stefan Thomas has already used eight tries. The programmer admitted that he was disappointed in how the cryptocurrency works: he does not like the idea that people should be their banks. “The reason we have banks is that we don’t want to do what they do,” the man says. Gabriel Abed, a 34-year-old entrepreneur from Barbados, reported that he lost about 800 bitcoins. It stored the passwords on a laptop that his colleague reformatted a few years ago. And in 2013, an IT specialist from Wales, James Howell, accidentally threw away a hard drive that stored 7.5 thousand bitcoins. Now he asks the city authorities to allow him to search the landfill and promises to give the city residents 25% of the amount on the wallet.

As The New York Times recalls, the creator of bitcoin, known under the pseudonym Satoshi Nakamoto, wanted to make it so that everyone could open a wallet without registering with a financial institution or going through an identity check. Cryptocurrency is a complex algorithm that allows you to create an address or login and an associated key (password), known only to the wallet’s owner. When conducting transactions, the software confirms the correctness of the entered password but does not see the combination itself. As a result, the owners of bitcoins are reliably protected from state control. However, the system’s creators did not consider that people can forget or lose passwords.

Cryptocurrency has no official status in most countries

The legal status of cryptocurrencies is individual for each country. For example, bitcoin was recognized as a means of payment back in 2017 in Japan. It can use this currency to pay in some stores, including online platforms, beauty salons, cafes and restaurants. In 2017, the cryptocurrency received official status in the Republic of Belarus. President of the country Alexander Lukashenko signed a decree “On the development of the digital economy”, which allowed citizens to buy, sell, exchange and donate cryptocurrency, as well as engage in its production (mining). This activity is not considered entrepreneurship and does not need to be declared. In Switzerland, they are developing a “Blockchain Law”, which should contribute to the development of decentralized finance. As a result, some companies will be able to issue digital analogues of shares and other tradable assets. The President of the Swiss Blockchain Federation, Heinz Tanner, said that the country’s regulatory framework for cryptocurrencies would become one of the most advanced in the world. Over the past few years, about 900 blockchain companies have emerged in Switzerland, including crypto banks, cryptocurrency vaults, and real estate enterprises.

At the end of September, European Commission President Valdis Dombrovskis announced new rules for regulating cryptocurrencies and stablecoins – digital assets pegged to fiat currencies (legalized in a particular state), including the dollar and the euro. In particular, the department plans to consolidate the digital financial services sector. In addition, the European Commission intends to tighten requirements about stablecoins such as Libra Facebook, as their widespread use may threaten economic security. Furthermore, the head of the European Central Bank, Christine Lagarde, recently spoke about the need to regulate the cryptocurrency market because bitcoin is a “highly speculative” currency used for money laundering. Lagarde called on the G7 or G20 countries to cooperate on this issue.

Mining harms the environment, but there are more and more “green” cryptocurrencies in the world

Scientists from the Technical University of Munich found that the blockchain network serving bitcoin has been consuming about 46 TWh of electricity annually since 2019. As a result, between 22 and 22.9 Mt CO2 enters the atmosphere annually. It is comparable to the carbon footprint of countries like Jordan or Sri Lanka. It also noted that the development of technology is one of the significant factors in the constant growth in the amount of electricity consumed by the crypto industry.

As you know, initially, miners used ordinary personal computers with a computing power of 0.01 GH/s (giga-hash per second, that is, the number of combinations that specific equipment allows per sec) and energy efficiency of 9 thousand J/GH (joules per giga-hash of energy per unit of computation). Now they have switched to specialized systems based on integrated circuits with a capacity of up to 44 thousand GH/s and an efficiency of 0.05 J/GH. The researchers also found that 68% of the total is concentrated in Asia, 17% in Europe and another 15% in North America. In addition, they noted that the carbon footprint of cryptocurrency mining needs to be controlled. It is essential in countries where electricity generation is highly emission-prone. According to scientists, to make cryptocurrency mining more environmentally friendly, it is possible, among other things, to transfer mining farms to renewable energy sources.

Now, more cryptocurrencies are appearing worldwide, designed to improve the environmental situation. For example, the American company KWHCoin created a digital currency of the same name, which can obtain in exchange for electricity from renewable sources. The platform works based on blockchain technology and makes it possible to simplify the process of buying and selling clean energy. A similar cryptocurrency – SolarCoin – is focused on developing solar energy. Energy producers register their installation and open a wallet that acts like a bank account. For every MWh of energy produced, they receive one Solarcoin, valued at $0.016. Another “green” cryptocurrency, EverGreenCoin – everyone who buys tokens supports projects in RES, water conservation, health and land use worldwide.

Goldman Sachs offers first-ever Bitcoin-Backed line of credit

Goldman Sachs Group Inc. offered its first-ever Bitcoin-backed line of credit. It was a crucial step for the largest US bank and indicates that the transition of Wall Street to cryptocurrencies is underway.

According to the bank’s spokesman, the secured lending facility provided funds secured by Bitcoins owned by the borrower. The deal was attractive to Goldman because of its structure and round-the-clock risk management.

Recall that Wall Street banks are ramping up their crypto offerings after rising prices and the high popularity of cryptocurrencies broke down years of resistance. With a digital asset team, Goldman has been trading its first OTC Bitcoin options since March. The move signals a new line of business currently the preserve of companies more focused on crypto.  

Similarly valid and Jefferies Financial Group Inc. It is also expanding banking services for crypto customers, and BlackRock Inc. joined a $400 million funding round this month at stablecoin-focused Circle. And boutique investment bank Cowen Inc. launched a digital asset division in March 2022.

Some cryptocurrency-related products and services already offered by Wall Street include asset management, trading, and investment banking.   The next step could be lending to companies that provide virtual currencies as collateral. 

Some banks (such as Silvergate Capital Corp.) have already provided USD-denominated loans backed by Bitcoin. This trend suggests that the most prominent US banking institutions actively develop the service sector related to cryptocurrencies.

As you know, US law allows state and commercial companies to use cryptocurrencies in various areas. Furthermore, given that the dollar is gradually losing its value due to high inflation, which has already exceeded 8%, cryptocurrencies are becoming increasingly sought-after. Accordingly, banks respond to this and offer customers products related to virtual currencies.

SEC Names 9 Tokens Securities     

SEC has singled out nine cryptocurrencies traded on the Coinbase exchange, which, in its opinion, can be considered securities. Previously, a former Coinbase employee was accused of fraud and insider trading.

These assets connect with alleged insider trading, such as AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX and KROM. 

This case is one of the few cases where the SEC designated specific crypto assets as securities. 

Earlier, the former head of the commission, Jay Clayton, stated that BTC is not a security, and the former SEC director of corporate finance, William Hinman, did not notice signs of securities in Ethereum. However, the current head of the regulator, Gary Gensler, has a slightly different opinion and believes that only bitcoin can be unambiguously considered a commodity.

It can conclude that the SEC is mainly of the opinion that most cryptocurrencies are securities. Coinbase reacted to the SEC decision and emphasized that US laws have not kept pace with the digital world and need to be improved. In its opinion, crypto assets, which are securities, need an updated set of rules to ensure they can work effectively with them. And for crypto assets that are not securities, confirmation of this definition will be required. The current state of affairs in this matter only damages innovative technologies and, ultimately, consumers.

Coinbase has filed a formal petition with the SEC regarding developing a procedure and rules for the legal definition of securities among digital assets.  

Michael Saylor: signs of security in Ethereum

The head of Microstrategy, Michael Saylor, a consistent supporter of Bitcoin, believes that Ethereum has the hallmarks of security. Ethereum’s hard forks indicate it, and the ICO conducted in his opinion.

Ethereum and Other Altcoins Commodity Law

US Senator Cynthia Lummis, who drafted the Financial Innovation Act, believes that Ethereum and other altcoins fall under the definition of a commodity.

This law recognizes as a commodity digital assets with a sufficient degree of decentralization. It implies their regulation by the US Commodity and Futures Commission (CFTC) and not the Securities and Exchange Commission (SEC).

Sailor: Item can’t be changed

According to Saylor, the parameters of a commodity must be immutable, and it cannot have an issuer. For example, he says that it is impossible to turn Gold into steel or aluminium by the vote of the gold owners. On the other hand, Ethereum’s hard forks clearly show that they can change the characteristics of this coin.

Of course, developers can and should tamper with the code of a digital asset to fix bugs and prevent vulnerabilities. But, if the code changes in such a way that the characteristics of the digital asset that affect its value change, this already indicates the signs of security.

According to the law, securities can be sold to a wide range of investors only after information about the issuing company’s owners and the company’s risks are disclosed.

The director of financial regulation at the think tank Center for American Progress, Todd Phillips, agreed with Saylor. In his opinion, most cryptocurrencies meet the characteristics of securities and should be regulated by securities laws. The adopted law on financial innovation does not require the creators of digital assets to disclose information at the proper level.

SEC chief Gary Gensler agrees with Saylor and Phillips. He has repeatedly stated that cryptocurrencies have all the signs of securities. As a result, his department has frequently suppressed the functioning of cryptocurrency services that offered investments to investors while not having registration as an issuer of securities.

Sailor lashes out at marketplaces that allow the trading of cryptocurrencies, accusing them of patronizing the circulation of unregistered securities.

According to Sailor, Bitcoin is not a security since its characteristics do not change. For example, Bitcoin did not have an initial distribution of coins, and its source code does not change over time.

The Financial Innovation Law classifies other altcoins along with Bitcoin as a commodity, which implies their regulation by the Commodity and Futures Trading Commission.

Republican Senator Patrick T. McHenry, in turn, is sure that cryptocurrencies are not a commodity or securities. Therefore, he believes creating a separate regulator to regulate digital assets is necessary.

The fastest cryptocurrency for transfers  

$DASH is one of the three leading anonymous coins, along with Monero and ZCash. By the standards of the crypto market, a rather old coin launched already in dense 2014, Dash will give odds to almost all new ones in terms of transaction speed and commissions for them. One second and one cent are all it takes to transfer money from one Dash wallet to another. And this is even though Dash is a Proof of Work blockchain. Not a single old coin can boast of this.

Prospects and opportunities for passive income: on the Bynans crypto exchange, there is the possibility of staking Dash up to $ 9 per annum. How and where can I stake Proof of Work? The answer is on Binance.

The total supply of coins is 18,900,000, of which about 56% have been mined and are in circulation. The currency’s price now fluctuates around $100, which is indecently low for such a good project. At the peak of 2017, the price exceeded $1,000; last fall, it fluctuated around $200.

It can use Dash to pay for hotels and flights and buy gift cards from various stores, not to mention online services that can be paid for in Dash.

Dash is not about “raising money quickly”; Dash is about saving; it is not subject to inflation – its emission is finite. Dash is famous directly as a means of payment; in Venezuela, it outperformed Bitcoin in this respect.

The first cryptocurrency based on the laws of physics has appeared. It transmits energy through the blockchain 

Researchers at the Livermore National Laboratory Lawrence have developed a unique cryptocurrency that can transmit information and energy through the blockchain. The cryptocurrency was named E-Stablecoin. It can “transmit” electricity between users worldwide without using wires and distribution networks for this. So, it remains a digital asset where you can store savings.

E-Stablecoin can solve serious digital asset sustainability problems. It is the first cryptocurrency token project backed by a physical asset and completely decentralized, as the laws of statistical mechanics protect it. The lab’s website says the new concept could be an essential step toward creating “conscious assets” that transcend the boundaries of the digital world and tangibly connect with the real world. In addition, e-Stablecoin is endowed with all the benefits of modern thermodynamic advances for transferring energy in the form of data.

This concept originated from the “Maxwell’s Demon” thought experiment performed in 1867 by James Clerk Maxwell. In this thought experiment, a “neat demon” could allegedly violate the second law of thermodynamics at the nanoscale. The statement, which led to a flurry of controversy over a century, eventually made it possible to elucidate the deep connection between energy and information.

In a new paper, Livermore Lab researchers Maxwell Murialdo and Jon Belof detailed how this connection between energy and information allows the creation of a cryptocurrency token that is directly backed and converted into one kilowatt-hour of electricity. Although one kilowatt-hour of electricity is required to mint an E-Stablecoin token, this digital token can later be destroyed to extract back one kilowatt-hour of helpful electricity. Thus, the price of one E – Stablecoin token is tied to the price of one kilowatt-hour of electricity reliably and stably (a system that does not depend on an institution or a third party for the network or payment system to function).

According to Murialdo, any anonymous party can mint an E-Stablecoin token with the input of approximately one kilowatt-hour of electricity.

You can then transact with the digital token as with any other cryptocurrency or even turn it back into usable electricity without electric power companies, power lines, permits and approvals from regulators and authorities. It is a system without top-down management.  

The critical problem that plagues many cryptocurrencies (such as Bitcoin) is the tendency for the stock price of a cryptocurrency to fluctuate wildly.     These extreme price fluctuations increase the risks and negatively affect the execution of consumer transactions, long-term smart contracts, and other applications built on blockchain technologies.  

One solution to this problem is to create “stablecoins,” which are crypto-currency tokens designed to maintain a stable value of external assets. Stablecoins can link the value of their token to the value of an external asset such as one US dollar or one gram of Gold, making the token exchangeable for help.

 However, the current linking of the value of a cryptocurrency token to the value of a physical asset requires a certain amount of trust in a centralized authority (which can support and pay out a physical purchase). This requirement of belief in centralized control sets a potential point of failure that is fundamentally against the decentralized spirit of cryptocurrencies. 

In this regard, E-Stablecoin is the first stablecoin concept to eliminate such a “point of failure”. Such a situation will become possible due to the applied use of the theory of interaction of thermodynamics and information theory.

Thus, in the future, E-Stablecoin can contribute to the distribution of electricity to remote places without power grids or the fight against climate change by transferring additional renewable electricity to these places, which will have a significant positive impact on improving the efficiency of the energy supply.  

 Thanks to thermodynamic reversibility (to the extent that it is allowed by the modern understanding of statistical mechanics), the future blockchain will not only be based on tangible assets, such as energy consumption but will also become a more responsible and economic manager of natural resources, contributing in every possible way to the development of the economy. 

Stablecoins are introduced to stabilize cryptocurrencies and can be backed by any currency, precious metals or anything else. But this does not mean that can deny stablecoins service. E-Stablecoin is risk-free and completely decentralized.

Analysts predict that by 2030 the NFT market will reach $231 billion

Consulting firm Verified Market Research (VMR) has estimated that by 2030 the value of the non-fungible token (NFT) market will rise to $231 billion. It estimated the value of the global NFT market in 2021 at $11.3 billion. Analysts predict that over the next eight years, the cumulative annual growth rate of the industry will be 33.7%.

In their 202-page review, VMR experts estimated the value of the global NFT market in 2021 at $11.3 billion. In addition, analysts predict that over the next eight years, the cumulative annual growth rate of the industry will be 33.7%.

The primary stimulus for the growth in demand for NFTs is its spread among different population segments and many sectors, including music, cinema and sports. The report highlights the critical applications and uses cases that have helped boost NFT sales.

The gaming industry has become a significant driver of NFT adoption; VMR analysts consider Enjin one of the first major gaming companies to integrate blockchain technology with its infrastructure and launch its own (ENJ) current. In addition, the game assets of the ecosystem have been converted into NFTs so gamers can monetize them.

Also, games with the possibility of earning (P2E) took advantage of the NFT markets. For example, Axie Infinita offered users in the Philippines an alternative source of income during the Covid-19 pandemic, which became the subject of numerous insinuations and inevitable attention from the side.

The sports world also continues to interact with NFT products, and as one example, the authors of the review cited the partnership between Dapper Labs and the UFC, the purpose of which is to launch the event. UFC Strike is a concept similar to the widely popular NBA Top Shots, and its NFTs is designed to digitize and monetize UFC history.

There are also examples in the business world. For example, against combining traditional IT solutions with blockchain-based platforms, the NFT trading platform OpenSea decided to integrate the Adobe service to introduce some functions into its market products.

The prospects outlined by VMR specialists are similar to the NFT market review published in May 2022 by the consulting company SkuQuest Technology. From 2022 to 2028, this firm predicts identical growth rates for the industry at 34%, while the market value in 2021 is estimated at $15.7 billion.

Meta will apply the experience of Novi development for the metaverse crypto wallet

Seven months after its Novi Meta digital wallet launch, Mark Zuckerberg announced it was shutting down the project due to regulatory hurdles, but that didn’t necessarily mean that.

It can still use the resources of the digital wallet asset in the development of Metaverse projects, the GlobalData business intelligence and analytics platform announced on July 13.

A blockchain-based digital wallet like Novi will allow instant payment transactions in the metaverse, making them seamless.  

Since the user’s identity will be associated with each digital wallet, each asset stored on these wallets will be directly related to the user’s identity, noted GlobalData analyst Krista Dingi.

Novi was initially planned to be a global instant payment platform, facilitating domestic and international transfers using the stablecoin Meta Liem (DIBRACT). However, the token was never approved by regulators due to systemic risks to the economy and potential use for money laundering.

According to Dingi, the future economy of the metaverse will require “a payment tool to facilitate transactions in the metaverse and track them,” and this is where Meta can position itself as a pioneer. The launch of the Metaverse digital wallet will allow Meta to become the first payment provider to outperform its competitors.  

Startup Freeverse will develop the world’s first “live” NFT

Spanish startup Freeverse will develop the world’s first “live” NFTs, which will evolve. The company plans to open a platform for issuing NFTs of the new generation, which will change by the parameters laid down under certain conditions, for example, after some events in life or games. Modification of the NFT will depend on the actions of their owners so that an ordinary coin can be turned into a rare one and earned on its sale.

“The value of “live” digital assets will depend on the methods of their use and not on ordinary speculation. They will allow companies to create a more fair and sustainable business model. Therefore, we believe our product will become a key element of the growing Web3 sector,” said Freeverse CEO Alun Evans.

Recently, Freeverse managed to raise funding of $ 10.5 million. Earlybird Venture Capital and Target Global venture companies were among the most prominent investors. Freeverse plans to spend the funds received on product development and marketing.

In the UK, NFT was recognized as property.   

The Supreme Court of Great Britain recognized NFT as property, the right to own, protected by the current legislation.

The authority issued this verdict while considering a lawsuit filed by the founder of the educational community Women in Blockchain Talks, Lavinia Osborne. She went to court in March after stealing two non-fungible tokens from the Boss Beauties collection from her crypto wallet.

“As far as I know, for the first time in history, the court has awarded NFT the status of property that can freeze based on the ruling. This judgment removes any doubt that, according to the law of England and Wales, NFTs are property”, said Rachel Muldoon, Osborne’s lawyer. The Supreme Court ordered to block the stolen tokens, which are stored on the accounts of Ozone Networks, which owns the OpenSea market. In addition, the authority ordered the company to provide information about two new owners of the stolen NFTs. However, the department concluded that it could not determine the place of the crime, so the jurisdiction is unclear.

Prominent investor says when Bitcoin’s new bull market will start     

Morgan Managing Partner Creek Digital Mark Yusko said when the new Bitcoin bull market would start.

According to him, the current (as of 08/01/2022) structure of the bitcoin market indicates a process of bottoming, as BTC has made several higher lows and higher highs:

“So far, I am not ready to say unequivocally whether the bottom has been reached. But if we analyze, we can see that Bitcoin has made three higher lows. First, it fell to $17,500, then up and down to about $18,000, then up and down again to $19,000. Then bitcoin went up to $20,900, and I thought that if we break this level, we would have three higher lows and three more high maximums. So it is a pretty good bullish trend, and the onset of a crypto spring is possible.

Yusko agreed with the narrative that bitcoin goes through speculative cycles. In his opinion, BTC is in the “spring” part of the cycle and forms the basis for the next “summer” bull rally, which should happen in the run-up to the next halving in 2024.”  

New whale bought $3 billion worth of Bitcoins

The cryptocurrency market has been replenished with a new cryptocurrency whale. Its first appearance was in July. Then he purchased 15,499 Bitcoins for a total of $345 million. At the end of July, the whale bought another 45,499 Bitcoins worth $1.06 billion. Then he purchased another 71,879 BTC worth $1.64 billion, according to BitInfoCharts.

Thus, the new cryptocurrency whale has risen to 3rd position in the list of wallets with the most significant number of Bitcoins. Now he has at his disposal 0.70% of all Bitcoins on the market.

Who is the whale that bought $3 billion worth of BTC?

 It is unknown who this subject is, an individual or a legal entity. Therefore, the identity has not been established. However, thanks to him, the value of Bitcoin has risen over the past few days. If the market shows a sustainable bull trend in the future, the wallet will make a multi-billion dollar profit! So far, one thing can be said – the cryptocurrency whale has substantial financial resources to acquire Bitcoins in such quantities.

How crypto whales are behaving on the market now

A recession in the market is the most favourable time for large holders of cryptocurrencies. They are very active in the market, adding assets to their wallets. They have enough financial means to buy Bitcoin and other digital assets while the bears are in control.

Today, the price of Bitcoin was more than 66% below the maximum value in November 2021. Then its cost was $69,000. Now the price of the asset is less than $23,000. Therefore, it is very beneficial for the whales as they can buy BTC for a low price.

As soon as the bullish trend begins to dominate the market, their profits will grow by tens of per cent! In addition, there will be a new whale, which has already become the third in the ranking of wallets that store the most significant number of cryptocurrencies.

Maybe soon it will become known who this person or legal entity has a lot of money there.

Bitcoin Gold (BTG): history of creation, is it worth buying

Bitcoin Gold was launched in 2018 and is meant to offset the limitations of Bitcoin which served as the platform for its introduction. Indeed, Bitcoin Gold is a fork of Bitcoin. It means that it was created by separating some of the existing blocks of the Bitcoin blockchain to be managed independently. A development team was assembled, which currently has more than 20 people.

Bitcoin Gold delivered some of its promises by offering faster processing times than Bitcoin and providing complete anonymity. Hang Yin leads the Bitcoin development team Gold of 6 co-founders and used open source technology to build the blockchain.

To get access to Bitcoin Gold needs to be connected to the internet to send or receive BTG tokens. Being a virtual currency, Bitcoin Gold is not subject to the monetary policy restrictions of the Federal Reserve or the European Central Bank. The community members and the Board of Directors have control over the blockchain.

Why was Bitcoin Gold created?

Bitcoin Gold was introduced at a time when Bitcoin already existed. However, the main goal was to use the existing blockchain while providing complete anonymity and speeding up transaction times by reducing the block size.

Bitcoin supporters Gold felt that bitcoin was too geared towards the preference of large miners. Instead, the idea was to give an advantage to small miners who don’t have expensive mining equipment. It was seen as a detriment to the democratic access on which the blockchain philosophy is based.

Like Bitcoin, Bitcoin Gold acts as a currency and provides a platform to enhance the research and trading of cryptocurrencies.

In addition, it also serves purposes such as

• Payments for goods and services.
• As an investment available in the digital asset markets.
• As an intermediary of independent payment mechanisms similar to other cryptocurrencies.

Is it worth investing in Bitcoin Gold?

The main reason for any investment is to make money, which, according to many analysts, is part of Bitcoin’s Gold success. Although there were no major disruptive events in 2019, the reaction that this and other cryptocurrencies are causing in terms of price volatility is generally seen as a matter of interest. However, it is essential to note that all investments involve risk, and there are no return guarantees.

An investor needs to pay attention to the details behind the investment as it improves the decision-making process. In addition, for investors who plan to buy and hold BTG, it is helpful to know about the best storage options to choose the best cryptocurrency wallet. Not all digital tokens are compatible with all existing wallets.

There are storage types suitable for BTG, and with enough options, it’s easier to choose the best solution for your needs with the correct information.

Binance’s founder reveals how DeFi will evolve in the coming years

The decentralized finance industry, or simply DeFi, will experience a boom in the next 5-10 years. It will prove so vital that DeFi will even overtake Ceci, a segment where centralized crypto exchanges, like Binance itself, are represented.

Such an exciting remark was made by the founder of Binance, Changpeng Zhao, as part of an interview for the Youtube channel Bankless.

Zhao thinks decentralized exchanges, or DEXs, will eventually win. After that, however, centralized marketplaces will not go anywhere, and the two types of services will be able to coexist peacefully.

He explains that the CEX has remained in place of the fact that the older generation prefers the usual access methods – logins and passwords – instead of the newfangled private keys and other solutions typical of crypto.

At the same time, DEX will continue to evolve to become more convenient, even for those far from cryptocurrency.

Zhao explains DEX is more straightforward and safer – users manage the funds in their wallet on their own, and to use such services, you do not need to go through verification and other tedious procedures.

The entire crypto world shuddered when they discovered why the SEC calls crypto securities  

Why does the SEC call cryptocurrencies securities? What is so terrible about this, and is it necessary to shudder or did they overdo it in the article? Let’s figure it out!

What is all the cheese? Against the backdrop of insider trading from Coinbase, collapsed funds and investigations into trading with sanctioned countries, the US Securities and Exchange Commission (SEC) is considering the question: “Should we call cryptocurrencies securities”?. Well, it would seem, call it what you want – let’s trade typically. But, as it turned out, not everything is so simple.

According to Bloomberg, the decision to recognize crypto as security could seriously complicate the life of crypto exchanges, as “strict investor protection requirements” would put a substantial burden on the shoulders of firms. So tangible that small businesses can not cope with this. Moreover, the exchanges will be subject to “continuous scrutiny by regulators, which can lead to fines, penalties and, worst case, prosecution if criminal structures are involved. Changpeng Zhao burst into tears and laughed with his $700+ million for Hydra, which he had on Binance in 2017 when there was no KYC. On the other hand, proponents of stricter regulation believe equating crypto to securities will increase investors’ transparency due to SEC disclosure requirements for exchanges.

As a result, the crypto community wants to be under the wing of the Commodity Futures Trading Commission (CFTC) and not under the pressure of the SEC, although the latter aim to protect novice investors. It’s all about “less burdensome regulations.”

Although here, of course, there is still the question of what to regulate – so, it turns out, neither bitcoin nor ether can fall under the concept of securities. It is because no one controls the first at all, and ETH is highly decentralized, which also prevents it from being brought under the definition of securities according to the laws of the States.

What’s next? While everyone is waiting for the actions of the authorities who want to expand the powers of the CFTC to digital assets, the SEC “diggs” under crypto exchanges. And if he gets to the bottom of the court, the situation may develop completely unfavourably for the US crypto community (and indirectly the whole world). Other countries, such as the UK and Singapore, do not consider bitcoin and alt as securities: they see them as investments or shares not included in the list of deposits.

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