Wed | 13.04.2022
FX & Currency
In this cryptocurrency era, things are moving faster than ever, so you'd better keep one eye constantly on the market changes. Find out what are the top performance leaders in the past 5 days.
INSIDE UKRAINE'S DIGITAL WAR: DEPUTY BORNYAKOV ON RESISTING WITH TECH, CRYPTO AND HACKING
Quick fundraising in cryptocurrencies, an army of volunteer hackers, and a strong voice on social media have all helped Ukraine put up an unexpectedly strong front against Russia’s invasion over the past three weeks.
The digital war has become a key pillar of Ukraine’s resistance, and the experience the country is accumulating in the sector could be key to its post-war reconstruction, Alex Bornyakov, the Ukrainian Deputy Minister of Digital Transformation, told Euronews Next.
In particular, Ukraine is hoping to eventually become a leader in the use of cryptocurrencies, which proved a lifeline in the early days of the war, when donations in digital coins came pouring in from around the world.
"It exceeded all of our expectations," Bornyakov said in a video interview.
MasterCard TO ENTER THE CRYPTO WORLD WITH NFTs AFTER VISA & AmEx
The financial services provider will also provide entertainment and educational services in the Metaverse and further expand it to other social, cultural, and community events.
Through the Metaverse, MasterCard might be attempting to provide its financial services to the users in the virtual world as well.
According to another filing found, MasterCard has filed an application to trademark its iconic yellow and red dots, which will be visible on virtual credit, debit, and payment cards.
Using this, MasterCard aims to push the use of its cards for making transactions throughout the virtual world.
It is well known that the Metaverse is mostly uncharted territory with monetary value for as long as the hype exists. But given the big names that have already entered this space, it might live on for long.
Thus being a leading financial services provider in that space where LAND plots are sold for as much as $10,000, MasterCard could mint profits.
But the company also will be approaching NFTs beyond just Metaverse services. In regards to the same, a filing stated,
“Downloadable music files authenticated by non-fungible tokens (NFTs); downloadable multimedia files containing artwork, text, audio, and video authenticated by non-fungible tokens (NFTs).”
CRYPTO ADOPTION IN EUROPE LAGS BEHIND MOST OF THE WORLD - BUT THIS EU COUNTRY IS THE MOST RESPONSIVE
Europe is lagging behind the global average for cryptocurrency adoption but one European country in particular was the most "curious" in the world to learn more about crypto, a global survey suggests.
While around 17 per cent of Europeans have taken to cryptocurrencies, a percentage similar to other developed nations, they lag behind the global average of around 23 per cent.
Adoption in the US was 18 per cent, and in Australia 20 per cent. That’s according to a global survey conducted by cryptocurrency platform Gemini.
Surveying 29,293 adults in 20 countries, the company explored awareness of cryptocurrencies, motivations for owning and trading them, general attitudes toward them, and barriers to owning them.
European countries surveyed were: Denmark, France, Germany, Ireland, Norway, UK.
UKRAINE CRISIS IS NOT PROPELLING CRYPTO MARKET ACTIVITY, BLOCKCHAIN DATA SHOWS
The political and humanitarian crisis in Europe provoked by the Russian invasion of Ukraine created a massive tide of emigration from both countries. For many migrants and refugees, crypto has become the only tangible way to take their savings with them. However, that hasn't brought any notable boost to the crypto market, research shows.
Blockchain Analytics firm Crystal Blockchain monitored the hot wallets of the major cryptocurrency exchanges working with the Russian ruble and Ukrainian hryvnia, inluding peer-to-peer marketplaces like LocalBitcoins and Paxful, and found no significant fluctuations related to the war and migration.
It's important to remember that major global exchanges that used to support ruble trading pairs introduced their own sanctions against Russian users soon after the war started. For example, Binance stopped accepting payments via Russian bank cards, CEX.io suspended deposits and withdrawals for users from Russia and Belarus (Russia's ally in the war), CoinZoom paused registration of new accounts from Russia.
In early March, Alameda Research noticed that "Russian and Ukrainian trade volumes [were] soaring." Crystal notes, however, that there hasn't been a notable spike of on-chain activity, and over the past six months there has been a steady decline in transaction activity across a range of cryptocurrency exchanges, with fund flows falling even more after the onset of war in Ukraine, Crystal told CoinDesk.
MORE WOMEN INVESTING IN CRYPTO, NEW REPORT SAYS
Women also made larger initial deposits, averaging $2,381, compared to the $2,060 average deposited by men. Portfolio size was slightly less for women than men, about $400 less on average. Women traded fewer times a day—two, on average, as compared to five by men—which suggests a "structured trading strategy" by women, "with a smaller range of more focused positions."
Women are often found to be more risk-averse than men in behavioral finance studies. "More women trading cryptocurrency dispels stereotypes around cryptocurrency investors being risk lovers," the report says.
As more women invest in crypto, the industry's reputation advances. Their increased involvement helps make the case that crypto can "sit alongside other traditional investments," the report asserts.
TESLA, BLOCK AND BLOCKSTREAM TO MINE BITCOIN OFF SOLAR POWER IN TEXAS
(Reuters) -Electric-vehicle maker Tesla Inc TSLA.O>, payments firm Block Inc and blockchain company Blockstream Corp will collaborate to mine bitcoin using solar power in Texas, Blockstream CEO Adam Back said on Friday.
Tesla is building the solar power infrastructure and providing its Megapack batteries, Back added.
Blockstream and Block, which was previously known as Square, had said in June that they were collaborating to build an open-source and solar-powered bitcoin mining facility in the United States.
Bitcoin is created when high-powered computers compete against other machines to solve complex mathematical puzzles, an energy-intensive process that currently often relies on fossil fuels.
Environmental concerns related to bitcoin mining had in May last year prompted Tesla to stop accepting bitcoin for car purchases.
Tesla and Block did not immediately respond to requests for comment.
This article is provided by our Cryptocurrency Partner, Bitcoin Romania.