Crypto Market Highlights January 22, 2022

Clients are increasingly pushing investment advisors into crypto, Kucoin’s native KCS token is up 3100 percent year-on-year, and many other crypto market highlights compiled over the past 24 hours.

Crypto Market Highlights: Investment News

  • According to Bitwise Benchmark Survey/ETF Trends 2022, 94% of 600 financial advisors surveyed in the US received inquiries from clients about crypto in 2021, up from 81% last year. In addition, the proportion of advisors allocating cryptocurrencies to client accounts has increased sharply, from 9% last year to 15% this year. Another 17% of consultants said they are “likely” or “certain” to assign by 2022. 53% (15% a year ago) of respondents say that the Bitcoin (BTC) price will reach $100,000 within the next 5 years.
  • The US Securities and Exchange Commission (SEC) has rejected First Trust SkyBridge’s (ETF) application for a BTC exchange-traded fund (ETF) after several delays. They said any rule change in favor of ETF approval was neither “to prevent fraudulent and manipulative practices and practices” nor “to protect investors and profits in the public interest.”
  • JavaScript-native smart contract platform Agoric says they raised $50 million and added more than 48,000 new account holders to the project through their BLD token sale, which ended in less than two hours. The team adds that the proceeds from the sale will be used to grow and develop the Agoric network.
  • Blockchain indexing protocol The Graph (GRT) says it has raised $50 million in a new round of funding led by Tiger Global. Over the next two years, the Graph Foundation will provide funding to acquire core developers (or development teams) to focus on key Web 3 centralization, security, and scalability challenges.

Crypto Market Highlights: Blockchain News

Blockchain software company CasperLabs said it has reached an agreement with China’s Blockchain-based Services Network (BSN) that BSN will adopt Casper Network’s Open Permitted Blockchain Adaptation Program (OPB) to serve as the preferred blockchain for the city of Fuzhou. CasperLabs is building the OPB protocol and will be the service provider for BSN.

Terraform Labs, the company behind the Terra blockchain (LUNA), has announced the creation of the Luna Foundation Guard (LFG), a non-profit organization formed to encourage the growth of the Terra ecosystem. LFG’s initial target areas include raising awareness of blockchain technology, building educational programs, awarding grants for product development, and providing transparency to the online community about ongoing activities and projects.

Crypto Market Highlights: Stock Market News

KuCoin’s annual report shows that the price of their native KCS token is up 3,100% year-on-year and the average daily trading volume on their platform is up 1,100%. Additionally, the exchange reached $1 million in cumulative trading volume, with KuCoin futures market share increasing from 0.9% to 3%.

Crypto Market Highlights: NFTs News

Virtual Non-Fungible Token (NFT) gallery startup Cyber​​has unveiled new features that allow users to connect with each other via a portal with “doors,” each leading to a gallery owned by a managed by another user. The company has also raised $6.7 million from investors like Variant and TCG.

Crypto Market Highlights: Career News

Kim Miloseevich, former vice president of communications at cryptocurrency exchange Coinbase, is returning to Andreessen Horowitz (a16z) as chief crypto marketing officer. She will work with General Partner Chris Dixon and the team to “build the future of Web 3.”

Open Network (TON), a project by Russian social media giant Telegram, has confirmed what was reported by yesterday that former CEO of social network VK Andrew Rogozov will join as a founding member of their group. The project was reportedly abandoned, but the municipality picked up the pieces and began rebuilding.

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