ValteFri, Dec 10, 2021 7:26 PM
Weekly Digest: LUNA New ATH & SHIB Supported by AVAX Bridge
Every week we make a digest about the most significant news in crypto with bloggers and crypto community members, but this week we decided to find out what companies’ representatives and media think about all things crypto.
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Terra blockchain continues its journey up the chart as its native LUNA token reached a new all-time high of $77 on December 5. In recent weeks, the token followed an impressive bullish trend and was one of the assets not affected by the general crypto pull-off much. That’s a sign that LUNA’s price not just recovered from its May crash, but started a dramatic comeback in the top crypto charts as its total value locked reached $13.9 billion.
As the sources close to the topic inform, India’s Prime Minister Narendra Modi has proposed to offer crypto holders enough time to declare their ownership over digital assets to be able to comply with upcoming new regulations. Those who will refuse to follow a new law can be imprisoned for up to a year or fined around $2.7 million. It’s also supposed that the bill will consider crypto as crypto assets instead of cryptocurrencies. Moreover, the government can imply the minimum threshold for crypto investors.
“Despite the uncertainties facing cryptocurrencies and crypto holders in India, this year alone, the country has recorded a 641% increase” — Coinfomania
Nasdaq Stockholm informed that 21Shares has listed its first two physically-backed exchange notes with Bitcoin and Ethereum as underlying assets. It represents a new type of ETNs — unsecured debt security tracking in the underlying index of equities and being traded on major exchanges that will allow investors to put their money in the assets like Bitcoin and Ethereum. It’s the first broker to offer crypto investors a regulated exchange platform.
“We are happy to launch this new segment at Nasdaq Stockholm with 21 Shares as the first issuer.” — Helena Wedin, European head of exchange-traded products at Nasdaq”
Global cryptocurrency exchange Gate.io has reached $7.1 billion daily trading volume and became the sixth largest crypto futures platform in just 2 months, rising from 15th place. According to Marie Tatibouet, Chief Marketing Officer of Gate.io explains it by the many new products offered and spread good reputation of the exchange.
For instance, the platform allows users to trade more than 200 contracts on the stable platform with high liquidity with one of the lowest fees in the industry and at the same time provides some innovative features, such as contract bonuses, reversed positions, advanced contracts analysis and quantitative trading solutions.
Despite the gossip about Binance’s exit from its previous hub Singapore, the company announced its expansion in the country. According to the exchange’s CEO Changpeng Zhao, Binance acquired 18% of Hg Exchange, a Singapore-regulated private securities exchange. It is considered that HGX as a recognized market operator can help Binance to comply with the complicated local regulations.
“In Singapore, we continue to work closely with key government agencies to support the growth of the blockchain ecosystem and development of requisite local talent needed” — Richard Teng, Binance Singapore’s Chief Executive
Payment giant Visa is launching new consulting and advisory services that are supposed to help clients to navigate the crypto world. They will be housed within the consulting and analytic division and will offer solutions for retailers, financial institutions and companies in any field related to crypto, including implementing crypto payments and developing wallets. Visa states that according to the survey, 40% of clients are ready to switch their bank to the one that offers crypto-related products.
“We came to Visa to learn more about crypto and stablecoins and the use cases that are most relevant for our retail and commercial business lines,” — Uma Wilson, executive vice president of UMB Bank
Retail giant Amazon has invested an unknown amount in Dibbs Collectibles platform powered by the WAX blockchain. Dibbs tokenizes trading cards and offers a 24/7 fractional market for supported collectibles. Amazon’s move can be considered as an answer to its competitor eBay NFT-related activity, as the company leads the sector with trading cards solved for more than $2 billion.
Avalanche Bridge added support for the Shiba Inu token, which means that the token now can be seamlessly transferred between Ethereum and Avalanche. The bridge also helps the users to transfer wrapped versions of Ethereum and Bitcoin. At the same time, Ava Labs CEO recently admitted his indifference towards this year's best-performing meme cryptocurrency.