The co-founder and managing partner of crypto lending company Nexo has forecast that Bitcoin price will hit $ 100,000 by mid-2022, and also highlighted “two simple reasons” that could help Bitcoin hit that target this year.
Happy New Year everyone!
This is your daily reminder of it #BTC will cost $ 100,000 this year!
A few thoughts on everything crypto related on CNBC Street Signs Asia.
And special thanks to @ tanvirgill2 that you have me!https://t.co/V3HVn8Ll8J
– Antoni Trenchev (@AntoniNexo) January 3, 2022
Antoni Trenchev points out that more and more institutional investors are putting Bitcoin in their coffers. For example, Microstrategy, listed on the Nasdaq, bought 124,391 BTC and stored it in their coffers.
Another reason is that Trenchev is hoping “cheap money” will persist, which will drive crypto prices higher. The Federal Reserve is expected to hike rates several times this year. Finance professor Jeremy Siegel also recently predicted that “the Fed will have to raise interest rates many times more than the market expects”.
Also, Goldman Sachs recently predicted that Bitcoin price could hit $ 100,000.
The US banking giant estimates that the largest cryptocurrency currently takes up a fifth of the world’s store of value. Hence, Bitcoin price could hit the 6-digit range if it continues to take market share away from gold.
– Bitcoin magazine (@BitcoinMagazine) January 4, 2022
Bitcoin’s illiquid supply is growing rapidly
Bitcoin is still struggling to consolidate its uptrend, although the data on the chain paints a more positive picture as many BTCs have become illiquid.
#Bitcoin The illiquid supply has risen steadily and reached 76% of the total value in circulation
most investors become owners, which is bullish in the long run
(Illliquid supply = tokens sent to an address that has never sent anything before) pic.twitter.com/fEJ4BpGJqR
– Cryptovelo (@Crypto_Velo) January 5, 2022
Glassnode’s results show that although Bitcoin has been trading sideways for the past two months, the illiquid supply is growing rapidly and now accounts for more than 76% of total circulating supply. So far, 90% of the BTC supply has been reduced.
Liquidity is when BTC is transferred to a wallet with no spending history. The highly liquid offer, which makes up the remaining 24% of the offer, is in active wallets or is regularly traded on stock exchanges.
Official Binance Labs notification strategic investment in Coin98 to develop DeFi in the BSC ecosystem.
Specifically, Binance announced an investment in Coin98, which includes all products such as Coin98 Wallet, Coin98 Exchange and Space Gate Cross-Chain Bridge.
Binance identifies Coin98 as an all-in-one DeFi platform that connects millions of TradFi users with DeFi.
Tech giant Samsung is now being brought into contact with Cardano through its recent partnership with the Veritree blockchain management system.
👏Another great initiative launched by the #Cardano #blockchain.@SamsungUS by the end of the first quarter of 2022 in cooperation with. Planting 2 million trees in Madagascar @veritree_a platform for climate solutions based on Cardano blockchain.https://t.co/vtTUfTmqqS #Sustainability
– Cardano community (@Cardano) January 4, 2022
The Korean giant wants to alleviate climate change by planting two million mangrove trees in Madagascar, an island nation in East Africa.
Mangroves are estimated to absorb ten times more carbon dioxide than other tropical forests.
The partnership was announced during the annual Consumer Electronics Show (CES) in Las Vegas.
News Cion Digital
Cion Digital, developer of the enterprise blockchain SaaS orchestration platform, notification on Tuesday that it completed its most recent round of seeds for $ 12 million.
This round of investments is overseen by Green Visor Capital and 645 Ventures, who have joined Cion Digital’s board of directors. Cota Capital, Epic Ventures, Hourglass Capital Partners, BAT Ventures, Greycroft and Ulu Ventures also participated.
The company said it intends to allocate these funds to its new resource development center in Pune, India, to further expand the project’s payments infrastructure.
Dot Finance News
Dot Finance, the protocol that helps automate DeFi profit farming, announced that it will move from Binance Smart Chain (BSC) to Moonbeam, the second parachain on the Polkadol blockchain. The project will also start immediately on Moonriver.
– CryptoBuzz (@CryptoBuzz_Blog) January 4, 2022
Dot Finance won the second Parachain auction at the end of November after a successful crowdfunding campaign and raised 35 million DOT (approx. 1.4 billion US dollars) from a total of 200,000 participants.
The Ethereum-compatible smart contract platform, which is mostly focused on interoperability, started producing blocks on Polkadot last month.
Digital asset manager Metaversal announced Tuesday that it had completed a $ 50 million investment round to further expand its investment capacity in the NFT and Metaverse sectors.
– Metaversal (@HelloMetaversal) January 4, 2022
The Series A funding round was jointly led by investment firms CoinFund and Foxhaven, with the participation of Collab + Currency, Dapper Labs, Digital Currency Group, Franklin Templeton, Rarible, Theta Blockchain Ventures, Galaxy Vision Hill and others.
Metaversal said it will use this funding to grow its NFT-focused business, including acquiring well-known digital collections and supporting projects invested by the venture studio. The new funding also enables Metaversal to partner with the NFT platform Rarible and Blockchain Flow.
WonderFi Technologies, the Vancouver-based DeFi platform, announced that it will acquire the Toronto-based Bitbuy exchange for approximately $ 206 million ($ 162 million) in cash and stock.
WonderFi buys BitBuy parent First Ledger in its first takeover of a regulated crypto platform in Canada https://t.co/zQmpFztNSq
– National Post (@nationalpost) January 4, 2022
The deal will establish WonderFi, backed by venture capitalist Kevin O’Leary, as Canada’s largest publicly traded end-to-end consumer crypto and DeFi platform.
The company relies on the regulatory environment in Canada, reflecting its global strategy of finding crypto-friendly regulators.
NVIDIA, a manufacturer of graphics processors and integrated circuit technology for workstations, personal computers, and mobile devices, is looking to intensify efforts to develop more products for the metaverse.
Metaverse is a concept that describes the next generation of Internet content, where users can interact with objects (and other people) in the virtual world. It deals with technologies such as virtual reality, augmented reality, NFT, artificial intelligence, cryptocurrencies …
NVIDIA does not develop the Metaverse, nor does it create Metaverse-focused objects. Instead there was debut The program supports artists and content creators who focus on building virtual worlds and products that enrich the user experience in the Metaverse.
To this end, NVIDIA has announced that it will be distributing free versions of its “Omniverse” software to artists. The annual cost of this program for corporate clients is approximately $ 9,000.
News chain link
With the crypto market facing a slight rebound, some tokens like Chainlink are showing a strong rebound with growth of 31% over the past five days.
🔗📈 #Chain linkThe jump from $ 19.15 in late 2021 to $ 25.17 just 4 days later (+ 31%) raised some eyebrows. $ LINKThe network’s profit / loss has skyrocketed, suggesting traders are back to profitability. A dip below 0 would indicate another great buying opportunity. https://t.co/1R5RSRD3ud pic.twitter.com/wzmG6YWHOz
– Santiment (@santimentfeed) January 5, 2022
After the 50% correction in November, the majority of Chainlink network owners are losing money. After the short-term pump of the token, the profit / loss ratio in the network changed, with the majority of LINK holders making a profit.
Similar data is confirmed by IntoTheBlock’s on-chain data indicator, with 57% of Chainlink owners benefiting from their invested positions. Right now, only 32% of investors holding LINK are losing money and 12% break even.
LinksDAO, the decentralized autonomous organization founded by Mike Dudas, sold its first collection of NFTs, raising $ 10.5 million.
– CoinDesk (@CoinDesk) January 3, 2022
NFTs offer their owners a variety of benefits, including the right to purchase memberships to clubs that LinksDAO purchases, discounts on specific items, and access to members-only Discord channels.
The goal of the DAO is to buy a top 100 golf course in the US and turn it into a state-of-the-art leisure club for a “global community of thousands of enthusiasts”.
Canaan Inc expands its market in Kazakhstan
Bitcoin (BTC) mining hardware maker Canaan Inc. is expanding its market in Kazakhstan after entering into new strategic partnerships with numerous cryptocurrency miners in the country.
Accompaniment notification on Tuesday that it had 10,300 AvalonMiner machines in operation in Kazakhstan by December 31, 2021, completing the first phase of its investment in the Central Asian country. Canaan is working with local companies to expand its business outside of China.
Capital flows into the crypto market will increase sharply in 2021
According to data from CoinShare, digital asset investment products have seen capital inflows …