Crypto News December 31: Bitcoin bounces USD 1,500 as options expire in December with news about Ethereum, Chainlink, Binance, Shiba Inu, YetAi, OpenSea, Umee
From the comment that Bitcoin rose $ 1,500 in 1 hour to Binance buying all of Swipe’s remaining shares. Here are some highlights from the crypto market.
Bitcoin began to thrive on December 31st when a bull run caused the market to recapture the $ 48,000 region.
Data from TradingView shows that the BTC / USD trading pair suddenly surged above $ 1,500 in one hour.
This is a new reaction to the downtrend of the past few days that shows movement of what can happen in the crypto market when liquidity is less than usual during the holiday season.
Traders argued that the close of $ 6 billion worth of Bitcoin options expiring in December put pressure on BTC’s price action.
Futures + option expiration
– IamNomad (@IamNomad) December 31, 2021
A poll in early December showed that the majority of respondents expected the Bitcoin price to be above $ 55,000 by the time the option expired.
Bitcoin price trader survey after options expire in December | Source: Twitter
Meanwhile, the Coinbase Pro trading platform took nearly 10,000 BTC off the books, 24 hours before the BTC price began to rise.
Many countries and institutions keep Bitcoin on their balance sheets.
In the past 12 months, many companies have announced that they have added Bitcoin (BTC) to their balance sheets, and even countries like El Salvador are now storing BTC in coffers.
Data from Bitcoin Treasuries shows that there are 59 companies, institutions and 5 countries with BTC on their balance sheets. Currently, these companies hold more than 1,499,493 BTC. This equates to $ 71.6 billion, or 7.14% of the BTC supply.
Of the 5 countries that own BTC, Bulgaria tops the list, however the custody of 213,519 BTC by the Bulgarian authorities is controversial and many believe the money was sold.
Many countries and organizations hold Bitcoin | Source: Bitcoin Treasury Bonds
Veteran Ethereum researcher Dankrad Feist shares a long post explaining how Ethereum 2.0 would benefit from eliminating independent advocates for each of its shards.
I’m thinking of a new sharding design where instead of having independent suggestions for each shard, it suggests all of the shard blocks in a slot along with the beacon block. This leads to a significant simplification of the sharding design 1 / nhttps://t.co/gIs0zioPGm
– Dankrad Feist (@dankrad) December 29, 2021
Feist suggested in his personal blog “New Sharding Design with Beacons and Shard Integration” to exchange ideas for a more resource-efficient sharding model for ETH2.
According to his proposal, Ethereum’s sharding design would be optimized by integrating data from all shards into a single signal block. Once implemented, this solution enables all transactions to access block data, even from L1 and zk-based systems.
News chain link
Chainlink is the only blockchain in the crypto space that has a much higher level of acceptance than other chains. However, the price did not perform well, causing losses to many investors.
Price table LINK | Source: TradingView
Over the past 2 months, the LINK price has fallen continuously, hitting a low of $ 17.7. The 22% recovery on December 21st was undone as LINK lost 14% of its value in 2 days.
Currently, around 50% of investors have fallen into the red since the beginning of the month. Of that 50%, 16.6k addresses in particular have suffered heavy losses in the past 6 months because they were purchased when LINK was at the ATH price of $ 52.3 USD.
News Shiba Inu
In post In a recent blog, the developers of Shiba Inu announced DAO 1, the beta version of the Doggy Decentralized Autonomous Organization.
As Discord host Shiba Inu recently stated during an AMA session, the DAO will prevent developers from using their power over certain regions, thus helping to return power to the community.
The goal of DAO 1 is to enable the community to decide which crypto pairs to add to the liquidity pools on the ShibaSwap decentralized exchange to encourage competition and benefit the Shiba ecosystem.
After a year of regulatory hurdles, Binance is slowly growing and laying the foundation for new areas. Last week, the leading crypto exchange received licenses and approvals from regulators in Bahrain and Canada to provide crypto-related services.
One of Binance’s other international forays is France, where it is funding a € 100 million ($ 113 million) initiative with the French FinTech industry group.
With the name “Objective Moon” the initiative was first announced in March, aims to advance the country’s crypto and blockchain sectors through innovation and education.
To this end, Binance will set up a research and development office in France and participate in startup incubations and other training programs.
Binance will buy all of Swipe’s remaining shares.
On December 30th, the world’s largest cryptocurrency exchange, Binance, notification that it will buy any remaining shares in Swipe, the popular Visa card provider for cryptocurrencies.
Thanks to this deal, Binance users can spend their coins in over 70 million locations worldwide.
Binance first announced the acquisition of a majority stake in Swipe on July 6, 2020 and said the partnership will help drive the adoption of crypto by connecting fiat and digital assets.
Binance’s takeover of Swipe will allow it to compete with other crypto service providers like PayPal and Mastercard.
News from YetAi
YetAi, a collection of 8,888 unique NFTs with more than 90 different functions, announced its decision to bring artificial intelligence (AI) to the Solana blockchain.
This is the first NFT project where all NFTs are created entirely by AI.
The introduction of these extremely rare, unprecedented, and well-designed NFTs on Solana will enable prospective owners to make fast, safe, and low gas transactions. This will help the YetAi community make faster purchasing decisions.
KI-NFTs to enter the #Metaverse on @solana! Read on to find out more about that @yetai_nft NFT Collection Completely Created Using Artificial Intelligence:#Solana #SOL #NFT #Crypto #CryptoNews #nftsammler #WHO # Web3https://t.co/RIjHM6RnAz
– Solana News ️ (@SolanaNews) December 30, 2021
NFT Marketplace OpenSea frozen 16 Bored Ape and Mutant Ape NFTs after they were stolen from a New York art gallery operator yesterday.
A total of 01 Clonex, 07 Mutant Ape Yacht Club and 08 NFTs from the Bored Ape Yacht Club, currently valued at around 615 ETH (2.28 million US dollars), were stolen and are currently not tradable on OpenSea.
The toddkramer.eth account, which is linked to the Ross + Kramer Art Gallery in New York, has Upload a series of tweets describing 16 NFTs stolen from his hot wallet asking OpenSea and the NFT community for help.
OpenSea has frozen transactions for stolen NFTs including:
- Monkey 2771
- Monkey 6416
- Monkey 1623
- Monkey 8214
- Monkey 7528
- Monkey 9988
- Monkey 9410
- Mutants 25057
- Mutant 11177
- Mutant 28752
- Mutant 24718
- Mutant 2436
- Mutant 9278
- Mutant 2434
- Clonex 6801
The frozen buying and selling of NFT led some traders to denounce the lack of decentralization of the market, one of the most cherished aspects of the crypto industry.
Umee’s token sale on Coinlist broke records for user interest in the platform, ending with a nearly $ 32 million increase.
Coin list does report that over 922,000 accounts have signed up for options 1 and 2 of the UMME token sale, which is the highest number ever for a token sale on the platform. In the end, around 63,000 accounts participated in the donation.
Follow post on medium from Umee, this money is used to expand the staff. The beta web app for the platform will be live “in the coming days” and the mainnet is expected to be launched in mid-February.
SEC Chairman Adds New Senior Cryptocurrency Advisor.
U.S. Securities and Exchange Commission (SEC) chairman Gary Gensler has just added a new employee who will provide advice on cryptocurrency policymaking.
???? BREAK: #SEC Chairman Gary Gensler has hired a senior advisor to look at # Cryptocurrencywho will be responsible for “policy making and inter-agency work related to oversight” #Crypto Assets “. Make a note of this name: Corey Frayer. This is very important. #Retweet (1/4) pic.twitter.com/M2ewbpsxPL
– WallStreetPro (@wallstreetpro) December 30, 2021
30, the SEC said Corey Frayer will join the agency’s leadership team as a senior advisor for oversight of the crypto market.
Frayer served as a professional on the Senate Banking Committee and served as senior policy advisor to the House of Representatives Financial Services Committee with Representatives Maxine Waters and Brad Miller.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews