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Crypto News 04/01: Max Keizer believes Bitcoin will reach USD 220,000 this year, with news from Ethereum, NFT, Flexa Network, Cardano, Crypto.com

699 days ago - Around 7 mins mins to read

With the perception that Bitcoin will still hit the target of $ 220,000 in 2022, China is expected to test the digital yuan in Macau silver waves. Here are some highlights from the crypto market.

Crypto News 04/01: Max Keizer believes Bitcoin will reach USD 220,000 this year, with news from Ethereum, NFT, Flexa Network, Cardano, Crypto.com

Bitcoin news

Bitcoin maximalist Max Keizer has predicted that the largest cryptocurrency will hit its target above $ 220,000 this year.

Keiser’s prediction is based on his ancient theory that the price of the highest cryptocurrency tends to follow the network’s hashrate.

According to the report, Bitcoin’s hashrate hit a new record high of 203.5 exahashes on January 2nd, making an impressive start to the new year.

It did so after the network’s overall computing power plummeted to a low of 58.4 exahashes / second in late June due to the massive migration of miners from China.

In an interview, Keizer described the “China ban” as a temporary breakdown for Bitcoin. Currently he is saying that Bitcoin fundamentals are “getting higher”.

Whales buy large amounts of BTC

Has the third largest Bitcoin whale address Buy more 456 BTC with an average price of $ 46,363.

It looks like the third largest Bitcoin whale has returned to the market after the holidays and just made its first purchase in 2022.

Data from Bitinfocharts shows that the third largest Bitcoin address added 456 BTC to an average price of $ 46,363 on Jan. 4, making a total of about $ 21 million.

Right now this whale holds 120,845.57 BTC worth over $ 5.6 billion.

Ethereum news

In his recent appearance on the Bankless podcast, Ethereum co-founder Vitalik Buterin claimed that maximalism was “very unhealthy”.

He doesn’t consider anything outside of the Ethereum ecosystem to be “boring and illegal” and claims to be interested in Zcash and Tezos.

The Zcash developers have announced that, according to the Ethereum roadmap, the project will move to a proof-of-stake consensus algorithm.

In her October blog post titled “Crypto Cities,” Buterin mentioned Nevada Mayor Hillary Schieve, who is using the Tezos ecosystem for her blockchain experiments.

Buterin believes there are respectable communities in the marketplace that offer many benefits beyond making quick money.

NFT news

The NFT trading volume on OpenSea is increase in January amid a new speculative craze for the Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) by Yuga Labs.

According to data from “rchen8” on Dune Analytics, OpenSea has generated a trading volume of over USD 700 million since the beginning of 2022, with January 3rd being the day of the highest trading volume with USD 255.8 million in 24 hours.

OpenSea’s monthly volume reached $ 3.24 billion in December, which is 5.3% below the platform’s ATH of $ 3.42 billion in August. With the NFT market generating over $ 700 million in trading volume in the first four days of January, the month’s record high could soon be broken.

Square Enix Announces Development Plan for Blockchain Initiative, NFT, and Metaverse

Square Enix has announced plans to develop blockchain initiatives, NFT and Metaverse later this week in a New Year’s letter from company president Yosuke Matsuda.

In the letter, Matsuda noted that NFT has drawn the attention of many users over the past year. He calls 2021 the “first boom year” for NFT thanks to its rapidly growing user base.

Matsuda noted that NFT has increased the liquidity of digital goods, but said that NFT trading is a little “too hot” and speculative. Matsuda expects the NFT to see a price correction as its popularity increases.

Matsuda is also watching Metaverse, a VR trend that Facebook launched in October, and hopes Metaverse will “bring significant changes to Square Enix’s business” when the company gets into this space.

Flexa network messages

On Tuesday, crypto asset management firm Grayscale announced its quarterly rebalancing of the DeFi market.

The company, which is owned by DCG, said it will remove Bancor and UMA from the indicator and add AMP.

Bancor – a token tied to a decentralized exchange, and UMA – a token tied to a synthetic assets protocol, accounted for 2% and 2.9% of the indicator, respectively, at the time of launch. Grayscale launched the fund and indicator in July 2021 to enable institutional investors to get exposure to the crypto market without having to manage the tokens themselves.

For the newcomer, AMP is the token used as security in Flexa Network. AMP will represent 7.39% of the fund. The Fund’s other assets include Uniswap and Aave, which account for 42.33% and 13.06%, respectively.

News Cardano

IOHK CEO Charles Hoskinson recently mention on the Cardano Improvement Proposal, a series of community-curated network improvements due to hit the market in 2022.

Almost 22 proposals were elaborated, including user-readable information for assets displayed on Cardano and a web wallet to interact with the DeFi protocol.

Charles Hoskinson revealed in a whiteboard video that the Cardano network plans to spend the next six to nine months improving its dApps ecosystem.

Among them are Cardano Improvement Proposals (CIPs), which are to be implemented in June, and spoke about design considerations when building the expandable UTXO (eUTXO) model from Cardano.

In addition, Hoskinson also hinted at an optimization plan for 2022 that aims to increase block size, improve node efficiency, and improve Cardano’s transaction throughput to 500-1000 TPS.

Crypto.com news

Crypto.com, the Singapore-based cryptocurrency exchange, has become a Gold Member of the Singapore Blockchain Innovation Program.

The National University of Singapore has partnered with Enterprise Singapore, Infocomm Media Development Authority, to drive blockchain innovation through the program.

As a Gold Member, Crypto.com will promote the development and adoption of blockchain technology in previously untapped areas such as: B. the introduction and increasing use of the CRO token.

At that event, analyst ShardiB2 predicted an increase in the Crypto.com price. Meanwhile, trader and analyst Gregarou1 compared the price of Crypto.com to Quant, drew parallels between the price trends of the two tokens and predicted an impending bull run in the market.

Other news

China plans to test digital yuan in Macau Silver Waves

As Macau casinos compete for new licenses, Chinese regulators can take advantage of the issue to launch a trial version of the digital yuan.

The deal in the $ 37 billion market is about to expire, which will require the country’s casinos to apply for license renewals for the first time in 20 years.

Regulators in China are expected to take advantage of this situation by forcing operators to allow trial use of the digital yuan in their casinos. According to the government consultation document, there is also provision for a government representative to oversee day-to-day business.

Since Macau exists outside of Chinese control, the authorities see it as an ideal environment to test the use of technology. This will also strengthen China’s oversight of digital payments.

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