Crypto Guides, Knowledge & Insights

Top 3 Metaverse Crypto Projects For 100x

Mark Zuckerberg recently stated that he doesn’t even want the company to be known as a social media company rather a Metaverse company with that being said, I think the Metaverse is going to be huge in particular in the crypto in gaming in nft space.　　It’s interesting to see that Mark Zuckerberg is actually talking about changing the name of his company to be more engaged and in line with being a Metaverse company.　　So this just came out of nowhere. I was already interested in crypto gaming in the Metaverse.　　It is really good for the Cryptoverse Metaverse. Because that hype will bleed into crypto and crypto gaming, there will probably be facebook partnerships with crypto gaming companies.　　So today, we’re going to look at three cryptos that I think are undervalued and relatively under the radar, not trading on a lot of the big major exchanges. So I think I can see dramatic price increases, especially if they start trading on the major exchanges.Star Atlas　　This is one of the best looking games that I’ve seen so far as far as the trailer graphics right. We haven’t really seen a lot of gameplay, but as far as the previews and the trailers

2021-11-05Deep Dive

Bank of America's COO shared his outlook for the future of the digital-asset space

Bank of America COO Tom Montag shared his thoughts Thursday on cryptocurrencies, stablecoins, and central bank digital currencies in a conference hosted by Chainalysis in New York, where he was interviewed by the software firms CEO, Michael Gronager.　　Montag, who will retire at the end of the year, has been at the helm of BofAs massive investment banking unit and has been responsible for all of the businesses that serve companies and institutional investors, including the firms global research and global markets sales.　　Here are Montags 7 best quotes from the conference, lightly edited and condensed for clarity:　　“They remind me of derivatives” in their early days. - On cryptocurrencies today　　“I dont understand that as well as everyone in the room ... youre just always nervous. Is there really a dollar behind stablecoin？” - On his views on stablecoins　　“It will be inevitable, but it will be fine.” - On the Federal Reserve launching CBDCs　　“I dont view it as competition at all. I view it as just another asset class ... and people like it for all sorts of different reasons.” - On the perception that banks are in competition with crypto　　“I came around to how this could have value as a global store

2021-11-05Deep Dive

SEC chair Gensler hints at enforcement actions against crypto firms

At the Securities Enforcement Forum on November 4, Gary Gensler denied that new technological labels alter the realities of securities definitions, specifically calling out decentralized finance and crypto products.　　Gensler, who chairs the Securities and Exchange Commission, said:　　“Sometimes, people focus on labels. For example, we hear terms like decentralized finance (DeFi), currency, or peer-to-peer lending. It can seem easy to take these words at face value. Make no mistake: regardless of the label or purported mission, we will be looking at the economic realities of a given product or arrangement to determine whether it complies with the securities laws.”　　Gensler has made no secret of his belief that many cryptocurrency-based products fall under existing definitions of securities, citing the need to assess based on facts and circumstances, not new taxonomies. This is despite many in the crypto industry asking for specific guidance on, for example, which tokens are and are not themselves securities.　　Later, referring to an accusation that many have leveled at the SEC — for example, in the ongoing case against Ripple over XRP issuance — Gensler said: “Some market participants may call this regulation by enforcement. I just call it enforcement.”　　For more blockchain news, please download WikiBit- the Global Blockchain

2021-11-05Deep Dive

TECH DeFi — the ‘Wild West’ of crypto — is next on regulators’ hit list

The fast-growing decentralized finance industry could be about to get a rude awakening.　　Decentralized finance, or “DeFi” as its commonly referred to, is a trend in cryptocurrencies that first started gaining traction in 2020.　　Its been called the “Wild West” of crypto — hoards of computer programmers trying to bring traditional financial products such as loans to the blockchain.　　The idea sounds promising. In theory, anyone could lend and borrow digital money at competitive interest rates, with no middle men involved. Investors are lured by the promise of earning up to double-digit percentage yields on savings in certain digital tokens.　　But with major hacks and scams plaguing the space this year, regulators are becoming increasingly worried about the risk of crime as well as harm to consumers.　　“I think theyre going to pay more attention to the space,” Sid Powell, co-founder of DeFi lending platform Maple Finance, told CNBC.　　Almost $90 billion has been deposited into Ethereum-based DeFi protocols so far, according to data from The Block.　　“Its probably inconceivable that you have meaningful growth of DeFi which does not need to complement existing regulation in future,” Powell said.　　Regulators have already started taking a tougher approach to the crypto industry.　　Various countries have attempted to boot out Binance,

2021-11-04Deep Dive

Why Bitcoin Could Serve As A Hedge Against Inflation?

Gold was the monetary index of the 19th century until it was replaced by an array of regional stock indexes in the 20th century. Bitcoin will be the primary monetary index of the 21st century　　— Michael Saylor　　A tweet made by the CEO of MicroStrategy Micheal Saylor reveals that Bitcoin is the new norm against inflation. While this could sound too good to be true, yet with the recent inflation statements made by the Federal Reserve Chairman Jeremy Powell concerning the nature of the US inflation data. It would be nice to predict the future outcome of the November rate hike meetings by the monetary policymakers, as the chairman himself revealed that the US inflation index is currently beyond the standard. In addition to the tweet from Michael Saylor, an unknown bird app user also add a fresh hit to back up the perception of crypto lovers in a tweet that quote “With Central Banks printing fiat currency regularly the moment in which the age of fiat currency will come to an end might be fast approaching” On a concise note this should raise a sense of urgency and call for immense attention to the digital currency speculators.　　The Future Of Bitcoin

2021-11-04Deep Dive

SQUID token up 600% today despite debacle and Binance investigation

The worlds biggest crypto exchange, Binance, has launched an inquiry into the Squid Game token to trace funds associated with the epic 45,000% pump and dump a few days ago.　　The Binance Smart Chain-based gaming token SQUID is suspected to be an exit scam or rug pull according to the exchange. Despite this, some extremely optimistic users are still buying the token in hope of a resurrection, with the price surging six fold in the past 24 hours.　　Binance is exploring options to assist those that bought the token and lost out in the crash. It is reportedly blacklisting addresses affiliated with the developers and using blockchain analytics to identify bad actors. It hopes to recover lost funds, although this seems a relatively remote possibility.　　Binance determined the developers had used a coin mixer called Tornado Cash to obfuscate their transactions. “Our security team is currently tracing those funds,” a spokesperson told Barrons before adding:“These types of scam projects have become all too common in the DeFi space as speculative crypto investors seeking the next ‘moon shot’ are quick to invest in projects without doing the appropriate due diligence.”　　Binance intends to hand over its findings to the appropriate law enforcement agencies.　　On Oct. 29,

2021-11-04Deep Dive

Crypto addiction: a hidden epidemic?

When Matt Danzico began seeing cryptocurrency logos in the packaging of grocery store items, he knew he had a problem.　　Danzico had been swept up in the global craze for trading digital currencies during the pandemic, and very quickly it had grown into an obsession.　　“I would have these sleepless nights where Id be tossing and turning, trying to get these charts out of my head,” said the Barcelona-based designer and visual journalist. “I thought I was losing my mind.”　　Cryptocurrencies like bitcoin and ethereum are notorious for their volatility, and the 39-year-old saw “years worth of money won and lost in a very short amount of time”.　　His emotions went on a similar rollercoaster, not helped by the fact that he was speculating in the depths of a Covid-19 lockdown. His wife noticed him becoming anxious and angry.　　Danzico declines to specify the damage the experiment did to his finances – suffice to say that “for our bank account, it was bad”.　　Reflecting months later during a trip home to the United States, the cheerful American mostly feels relieved that he nipped his addiction in the bud fairly quickly.　　But as cryptocurrencies have grown from being a niche interest to a more mainstream one, Danzico says

2021-11-04Deep Dive

Will New York Transform into a Bitcoin Hub Under the Newly-Elected Mayor Eric Adams?

All eyes are on Democrat Eric Adams who won New York Citys mayoral race. He had previously vowed to boost Bitcoin adoption in the city.　　Former police officer Eric Adams was elected the 110th mayor of New York City over Republican anti-crime activist Curtis Sliwa. Adams had promised to restore the pandemic-ravaged city to its former glory within a year. But this victory can also pave the way for New York to become a Bitcoin hub as visioned by the 61-year-old Democrat.　　Bringing Bitcoin Business Back to New York　　According to the Associated Press, Adams had 67% of the vote, with 65% of precincts reporting. As a mayor-elect, his main area of focus remains public safety and providing a voice to New York‘s working-class residents. With the landmark victory, Adams is now the second African American to lead the US’s most populated city and first pro-Bitcoin mayor.　　The cryptocurrency community, on the other hand, has high hopes for him. Adams has been one of very few Democrats who has endorsed Bitcoin and the digital asset industry.　　At a campaign watch party for in-person voting results, he had earlier stated:　　“We‘re going to bring business here. We’re going to become the center of life science, the center

2021-11-04Deep Dive

Australian Senator Says Clear Crypto Regulations Will be Introduced Within a Year

The Australian Senator said he expects the country to establish clear crypto rules in the next 12 months.　　Andrew James Bragg, Australias senator for New South Wales, recently acknowledged that cryptocurrency enthusiasts in the country are very eager to receive regulations on their activities in the country.　　 Demand for Regulation Continues to Increase　　In an official statement on Tuesday, Bragg noted that a clear and comprehensive regulatory framework for digital assets will increase market stability, among other things.　　Bragg, who is currently serving as the chairman of the Senate Select Committee on Australia as a Technology and Financial Center, said the countrys crypto sector has grown even more eager for robust regulation as the industry progresses to the mainstream adoption stage.　　“To my surprise, I‘ve never seen an industry so keen for regulation. Almost everyone I’ve spoken to in this industry understands that regulation would bring credibility and validity to this sector that had been cast aside by many as fanciful and illegitimate for its 12 year lifespan.”　　The Senator admitted that it will be difficult to push for regulatory clarity on crypto, considering that the asset class is viewed as an unconventional and obscure pursuit.　　However, Bragg added that he expects to see new crypto

2021-11-04Deep Dive

Shiba Inu and Dogecoin emerge as the most traded cryptos on Indian exchanges

India has been slowly catching up with the emerging cryptocurrency sector. As per local news outlet Hindu Business Line, meme cryptocurrencies Shiba Inu and Dogecoin have attracted a total of 13.72% (April to October) trading volume on crypto exchanges in India.　　The recent crypto trend has unveiled Dogecoin and Shiba Inu rallying ahead of Bitcoin and Ethereum among Indian investors. As per WazirX, a total of 50% trading volume have come from the purchase of Shiba Inu, while Coinswitch Kuber has listed Dogecoin as the leading crypto on its exchange followed by Ethereum (6.06%), and Bitcoin (6.04%).Factors that make Shiba Inu and Dogecoin popular with Indian investors.　　As per WazirX CEO Nischal Shetty, “the growth of Shiba Inu portrays the power of being a community-driven project. In recent months, Shiba Inu has been in the news for being listed on more exchanges, which has increased its liquidity and access to the token.”　　Apart from that, another reason that has made Shiba Inu and Dogecoin immensely popular among Indian investors is the fact that these currencies have often been tweeted by leading industrialists and global leaders like Elon Musk.　　Musks occasional tweets on Doge have made a strong impact on its pricing, and his recent

2021-11-04Deep Dive

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