Crypto market update
After several consecutive days of marking impressive gains, Bitcoin retraced slightly and lost around $2,000 since its local peak. The altcoins have calmed on a daily scale. The crypto market cap topped $2 trillion.
Bitcoin (BTC) is now trading at 43,537 USD down by 1% in 24h
Ethereum (ETH) is now for 3,134 USD down by 1% in 24h
PlatonCoin (PLTC) is now for 0,578 USD down by 10% in 24h
Total marketcap is currently at 2.090 trillion USD down by 2.5% in 24h
(all data from Coingecko.com)
Daily news update
JP Morgan and Bitcoin: Bitcoin is predicted to reach $150,000 in the long term by American banking giant JPMorgan. This represents a slight increase from last year’s target of $146,000. For Bitcoin to reach the aforementioned target, the leading cryptocurrency would have to match the private sector investment in gold, which is estimated to be roughly $2.7 trillion.
Bitcoins from Bitfinex hack: The U.S. Department of Justice (DOJ) said in a statement Tuesday that it had recovered billions of dollars worth of bitcoin stolen in a 2016 hack of Bitfinex. In the largest financial seizure ever, law enforcement has seized over $3.6 billion in bitcoin out of the total $4.5 billion hacked.
Americans and cryptocurrencies: According to The State of Consumer Banking & Payments report published on January 25, 2022, by Morning Consult, most American adults at 24% owned cryptocurrencies as of 2021. The figure was slightly higher than 23% of Americans who own certificates of deposit. Notably, a certificate of deposit refers to a savings account holding a fixed amount of money for a specified period.
Ubisoft and metaverse: Major video game publisher Ubisoft is continuing to explore new frontiers in Web3, today announcing a partnership with The Sandbox that will see the company bring its notable game franchises into the Ethereum-based metaverse game world. Ubisoft will have its own LAND plot in The Sandbox’s shared online world. The publisher will launch its interactive space in The Sandbox with its Rabbids franchise, bringing in blocky recreations of the goofy, rabbit-like alien creatures that users can utilize within the game’s VoxEdit and Game Maker tools.
Russia and cryptocurrencies: The government and central bank in Russia have reached an agreement on how to regulate cryptocurrencies, according to a Tuesday announcement. Russia’s government and central bank are now working on a draft law that will define crypto as an “analogue of currencies” rather than digital financial assets set to be launched on Feb. 18. Cryptocurrencies would function in the legal industry only if they have complete identification through the banking system or licensed intermediaries.