Crypto News 12/24: Bitcoin could reach USD 200,000 in 2022 with Ethereum, Vechain, Metaverse, Gear and Monero
From predicting that Bitcoin could hit $ 200,000 next year, to PwC’s entry into Metaverse space. Here are some highlights from the crypto market.
During a panel hosted by the investment education platform Market Rebellion, Tom Lee, Managing Partner at Fundstrat Global Advisors predicted that Bitcoin price could reach $ 200,000 by 2022.
Although the popular market analyst said that BTC had a disappointing year-end, he predicts that the market will do better in the next year.
In a webinar organized by Market Rebellion, an investment education platform, Tom Lee, managing partner of Fundstrat Global Advisors, predicted that the price of Bitcoin could reach $ 200,000 in 2022 #BTC #Bitcoin pic.twitter.com/rmRiI5Ig8k
– Bigbit (@ Bigbit100) December 24, 2021
Bitcoin hit the ATH at $ 69,044 on November 10, followed by a sharp correction.
The cryptocurrency has not been able to generate a strong year-end rally as the bulls are expecting. It is currently in the $ 51.067 zone after rebounding from below $ 50,000.
BTC price chart | Source: Coinmarketcap
Despite its strong rally at the start of the year, Bitcoin suffered a sharp crash in the second quarter, triggered by environmental concerns over the proof-of-work consensus algorithm and China’s crypto ban.
Bitcoin price will reach $ 6 million.
In a recent interview, the CEO of Microstrategy expects the price of Bitcoin to reach $ 6 million and states that this “nothing can stop” and will displace BTC gold.
News: Microstrategy CEO expects the price of Bitcoin to reach $ 6 million.
In a recent interview, Microstrategy CEO Michael Saylor spoke about his Bitcoin …
– CoinsCapture (@CoinsCapture) December 24, 2021
Saylor announced that he personally owns at least 17,732 bitcoins, which is the amount he announced last October. At the current BTC price, his Bitcoin vault is worth nearly $ 858 million while his company is hoarding 122,478 BTC.
The CEO of Microstrategy has never sold any of his bitcoins and has no current plans to sell them in the future.
Bitcoin miners have sales of $ 15 billion this year.
According to The Block Research, Bitcoin miners had sales of over $ 15 billion in 2021, up 206% from 2020.
Monthly sales of the Bitcoin miners | Source: The Block
As noted in the graph above, estimated mining revenues peaked in March when the miners raised around $ 1.75 billion, including $ 167 million in transaction fees.
Whales are pulling over $ 97 million worth of BTC from Coinbase.
A giant whale moved nearly $ 100 million worth of bitcoin in a single transaction.
According to Whale Alert, the whale transferred 2,001 BTC worth $ 97.29 million from the Coinbase exchange to an unknown wallet.
– Whale alert (@whale_alert) December 23, 2021
A total of 7,011.29 ETH worth $ 29,144,302 were burned from Ethereum transactions yesterday.
– Blockchaindecentral (@ cryptonews888) December 23, 2021
On August 5, 2021, the Ethereum blockchain performed a major upgrade called the EIP-1159. This improvement suggestion from Ethereum changed the network’s fee model. Every transaction now includes a basic fee that is either burned or permanently withdrawn from circulation, which permanently reduces the ether offer.
Ethereum is currently issuing new ethers at a rate of 4% per year, although this is expected to drop to around 0.5-1% as part of the Ethereum 2.0 upgrade. When this happens, the rate of ether burn will be higher than the rate of token issuance, making ETH a deflationary currency.
VeChain to build Government traceability platform for the Ongnuid Region, Inner Mongolia, China.
In 2016, the Inner Mongolia Government issued a policy marking the beginning of efforts to establish a traceability system. At the end of 2020, the Market Supervision Department, the Ministry of Agriculture and Livestock started an initiative to tender, design and develop. In early 2021, VeChain will be authorized to set up a state traceability platform.
Rice, millet, sunflower, beef and mutton from the Ongnuid region were approved in early 2021. Accordingly, VeChain’s blockchain solution is continuously applied to these products.
The Ministry of Market Surveillance, Ministry of Agriculture and Livestock will also rely on the traceability platform to help local businesses, build rural brands and demonstrate the quality of local products.
PwC Hong Kong, a subsidiary of PricewaterhouseCoopers (PwC), one of the world’s four leading accounting firms, has just announced its entry into the Metaverse space with the acquisition of a property in The Sandbox (SAND).
the #International Subsidiary of #global service provider #PwC, PwC Hong Kong has bought a LAND in The #Sandpit to untangle them #Metaverse Potential for users.
Continue reading: https://t.co/l2ohWw8ETi#blockchain #BlockchainRat #Messages @PwC #Hong Kong @TheSandboxGame pic.twitter.com/0aMeNLRyZB
– Blockchain Council (@ChainCouncil) December 24, 2021
Although the purchase price of the property has not been announced, PwC Hong Kong intends to build a Web3 advisory center that will support a new generation of professional services including accounting and taxation.
William Gee, Partner at PwC Hong Kong, commented that the Metaverse company offers new opportunities to create value through innovative business models, as well as new ways of interacting with customers and their communities.
Gear Technology, the smart contract layer that powers the Polkadot blockchain, has just closed a $ 12 million funding round led by BlockchangeVC.
This round also included the involvement of Three Arrows Capital, Lemniscap, DistributedG and other venture capitalists.
First/ @gear_techs – a smart contract layer that supports #Speckle #blockchain Framework, just got a $ 12 million round of venture led by @BlockchangeVC. Three Arrows Capital was also involved in this round, @Lemniscap, @DistributedG and other venture capitalists. https://t.co/lLpQLznrJE pic.twitter.com/K96Gc65mhX
– PolkaWarriors (@PolkaWarriors_) December 23, 2021
Several top executives from the Web3 Foundation and Parity Technologies also attended, including Polkadot founder Gavin Wood. Gear’s infrastructure efforts will benefit the entire ecosystem, he said.
Follow report Recently, cyber criminals at cybersecurity firm ReasonLabs tried to capitalize on massive public interest in Spider-Man: No Way Home.
The company discovered a torrent file, most likely from a Russian torrent site, that contained a self-compiled version of “xmrig,” the popular open source mining program for Monero.
Cryptojacking malware can go unnoticed by creating exclusions for Microsoft Defender Antivirus scanning.
The total trading volume on DEXs reaches over $ 1 trillion.
According to The Block Research, decentralized exchanges (DEXs) will have trading volumes of more than $ 1 trillion by 2021.
This is a massive 858% increase over 2020 DEX trading volume based on December 23rd data. Last year DEXs had a trading volume of over $ 115 billion.
Overall, DEX monthly trading volume peaked in May 2021 at $ 162.8 billion. January was the period with the strongest growth with an increase of 137.3%.
Trading volume on DEXs | Source: The Block
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