Weekly Headlines 2023.1 W1
“The key to generating real value through Web3 is by providing solutions that allow others to generate value for themselves.” – Dakota Barnett, Founder of InvArch
Weekly News Report:
News
1. Here’s how Bitcoin promotes global financial inclusion, according to Prince Philip of Serbia
– Prince Philip of Serbia outlines key ways in which Bitcoin promotes global financial inclusion and its importance in conflict-affected nations.
2. Lightning Network gets physical form in Australia with Bitcoin ATM
– Lightning-enabled Bitcoin ATMs promise to offer instant transaction support and a significant cut in cost from traditional crypto ATMs.
3. Sam Bankman-Fried Pleads ‘Not Guilty’ to Fraud, Conspiracy Charges
– Indicted by the DOJ last month on eight counts, the former CEO of failed crypto exchange FTX had been expected to enter the not guilty plea.
4. The Genesis Block: The First Bitcoin Block
– Today marks the 14-year anniversary of when Satoshi Nakamoto mined the first Bitcoin block.
5. Turkey to use blockchain-based digital identity for online public services
– Shortly after its central bank completed its first CBDC tests, Turkey announced a blockchain-based digital identity application.
Institution
1. Bank of England answers professionals’ questions about upcoming CBDC wallet
– The Bank of England answered more than 70 questions from applicants who wish to win over the $244,000 contract.
2. Hong Kong lawmaker wants to turn CBDC into stablecoin featuring DeFi
– A Hong Kong official believes that a government-backed stablecoin would serve as a better entry point to Web3 compared to private stablecoins.
3. UK Enforces Crypto Tax Break for Foreigners Using Local Brokers
– The measures now in effect are part of the government’s plans to turn the country into a crypto hub.
Market
1. Number Of Bitcoin Addresses Holding Over 10+ BTC Reaches Two-Year High
– Bitcoin addresses over the last couple of months have been fluctuating between accumulation and dumping. But one important fact is that there has been consistent growth in 2023 despite the market being less than a week into the new year. The important cohort here is bitcoin addresses that are holding more than 10 BTC on their balances.
2. ‘Binance Effect’ Means 41% Price Spike for Newly Listed Tokens
– A new study by Ren & Heinrich suggests that Binance’s emergence as the dominant global crypto exchange might mean that its individual token listings are now getting a lot more attention – at least among speculators.
3. Crypto Markets Analysis: On-Chain Data Shows Short-Term Bitcoin Holders Turning Profits
– Ether prices breaking above the upper range of Bollinger Bands is a hopeful sign; bitcoin appears poised to trade flat.
4. BlackRock Adds Bitcoin to Global Allocation Fund
– BlackRock is now providing Bitcoin exposure to the ordinary and passive investors of its Global Allocation Fund.
5. Binance Controlled 92% of Bitcoin Spot Trading Volume at End of 2022: Arcane Research
– A summer move to eliminate bitcoin trading fees and the collapse of rival exchange FTX pushed even more investors to the Binance platform.
6. Marathon Digital, Coinbase Lead Bounce for Crypto-Related Stocks
– Modest gains across cryptocurrencies were enough to jump start a rally in the beaten-down shares.
7. Ethereum in 2023: Here’s What to Look Forward To
– Staked ETH withdrawals, scalability and more cool events are on the horizon for Ethereum.
8. Shiba Inu-Themed BONK Tokens Are Yielding Nearly 1,000% for Solana Liquidity Providers
– The meme coin is up over 150% in the past 24 hours and have recorded some of the highest trading volumes on Solana-based decentralized exchanges.
9. Ether-Bitcoin Ratio on Bullish Path After Triangle Breakout, Trader Says
– We could see a bear in disbelief rally in ether in coming weeks, Decentral Park’s Lewis Harland said.
10. Crypto Markets Start Year on Positive Note After Horrendous 2022
– The governance token of the Lido decentralized autonomous organization surged 26% so far in 2023, while bitcoin and ether have held steady after last year’s steep losses. Some 142 assets of 163 assets in the CoinDesk Market Index are trading higher in the new year.
11. Ethereum transactions 338% higher in 2022 but Bitcoin remains most popular
– Total transactions on the Ethereum network outstripped Bitcoin more than fourfold, but Bitcoin was still the most searched cryptocurrency of 2022.
12. Bitcoin volatility may return in ‘catch up’ with gold in 2023
– Both stocks and gold are leading the way when it comes to new year gains, but can Bitcoin match them?
13. Solana’s SOL Token Surges 20% as Dog Coin Bonk Fires Up Community Interest
– Bonk was airdropped to several Solana NFT projects and has steadily gained interest among holders.
14. Ethereum’s Upcoming Shanghai Upgrade Powers Lido DAO, SWISE, RPL Tokens Higher
– Governance tokens of top liquid staking products rally as Ethereum’s Shanghai upgrade is set to “de-risk” ether staking by opening ETH withdrawals.
15. Crypto exchange adoption boosts ENS registrations to over 2.2M
– Ethereum Name Service rounded off 2022 with over 2.2 million ENS domains registered, helped in part by integrations with exchanges and industry participants.
16. Dogecoin Foundation announces new fund for core developers
– The Dogecoin Foundation allocated 5 million DOGE, which is around $360,000 at the time of writing, to the development of the ecosystem.
17. Vitalik Buterin highlights what he’s bullish about for 2023
– The Ethereum co-founder expects to reach a new milestone for rollups this year.
NFT
Tax-Loss Harvesting Platform Unsellable is Building ‘The World’s Largest Collection of Worthless NFTs
– The platform has so far purchased over 9,300 no-longer valuable NFTs that previous owners can count as losses to reduce taxable capital gains.
DeFi
1. Lido overtakes MakerDAO and now has the highest TVL in DeFi
– A Nansen in December noted that Ether staking solutions had been in high demand since Ethereum’s shift to proof-of-stake.
2. Defying expectations: After an uncertain year, DeFi has high hopes for 2023
– DeFi had several key moments through 2022, but how is it expected to evolve in 2023?
Metaverse
1. CME Group and CF Benchmarks Teams Up to Launch New Metaverse Reference Rates
– The move to provide the three new metaverse reference rates comes off as a unique contribution by the CME Group and CF Benchmarks to help with the evolution of the Web 3.0 ecosystem.
2. How AI Could Solve the Metaverse’s Language Problem
– Onemeta AI could solve a metaverse problem: real-time translation.
3. How Smart TVs Could Help the Metaverse Crack the Mass Market
– Web3 features are just beginning to appear on smart TVs, but they could become an on-ramp for general consumers.
4. Microsoft Exec Says Metaverse Is Must-Have
– Live from CES 2023 in Las Vegas, Nevada, the tech giant is looking to transform the customer experience and believes the future will be based on a hybrid model.
5. Don’t Write Off The Metaverse Just Yet, Tech Show Official Says
– The metaverse remains a hot area among companies exhibiting at CES 2023, despite tepid interest so far in current consumer offerings from the likes of Facebook-parent Meta Platforms (META). However, it’s enterprise applications for the metaverse that are drawing the most attention now.
January 6, 2023