Crypto market update
The cryptocurrency space, as well as global financial markets, all bled out in the past 24 hours, with BTC slipping to $47,000. The alternative coins enjoyed yesterday with impressive runs as well. Today, though, most are deep in the red. Ethereum was finally trading above $4,000, but a steep decline since then has driven the second-largest crypto to well below that line. The cryptocurrency market capitalization is down by almost $100 billion to under $2.2 trillion.
Bitcoin (BTC) is now trading at 47,006 USD (all data from Coingecko.com)
Ethereum (ETH) is now for 3,851 USD
PlatonCoin (PLTC) is now for 0,706 USD
Total marketcap is currently at 2.298 trillion USD
Daily news update
Millenials and Bitcoin:A recent survey revealed that 83% of millennial millionaires own cryptocurrencies, with 48% expecting to buy even more in 2022. Only 6% expect to reduce their holdings. The results also showed that 53% of millennial millionaires own more than 50% of their wealth in cryptocurrencies. At the same time, a third of millenials said they have 75% or more invested in cryptocurrencies.
Kraken and crypto winter: Kraken’s CEO has taken back his earlier prediction that BTC would surpass $100K by the end of 2021. The price of the asset has underperformed in recent weeks but the Kraken exec remains confident that the trend will be reversed. Several predictions from notable analysts forecasted Bitcoin to exceed $100K before 2022 following the last run.
NFT in space: Yusaku Maezawa, founder of Japan’s largest online fashion retailer Zozotown, tweeted about turning a photo he took in space into a non-fungible token (NFT), saying it may be the very first NFT to be issued from space. With the nickname “Japan’s Elon Musk,” Maezawa joins the list of billionaire space tourists such as Richard Branson and Jeff Bezos.
Justin Sun and Tron: Justin Sun has reported his resignation as TRON CEO to become Grenada’s WTO Ambassador. The TRON Foundation is also set to dissolve on July 25, 2022.
Russia and crypto ban: According to a Dec 16 Reuters report citing “financial market sources close to the bank,” the Russian central bank wants to ban crypto investing within the country. The report went on to state that Russian regulators have long echoed the sentiment that cryptocurrencies can be used for money laundering and terrorism financing. They have been banned as a means of payment but were permitted for trading and investment in 2020. It appears that the central bank is now seeking to overturn that as well.