Weekly Roundup of Cryptocurrency News 22/01/2021

The cryptocurrency market has been bleeding for two consecutive days. Bitcoin sank further, reaching its lowest level in six months. It is currently trading at around $35,500, down 6.28% on the day. Ether and other cryptocurrencies are also bleeding, erasing a slew of profits from recent rallies. The collapse is due to the global selling of stocks and the imminent ban on cryptocurrencies in Russia.

Here are some other top crypto headlines that you may have missed this week:

Singapore’s top financial regulators hunt crypto ATM operators

Crypto ATM operators in Singapore were ordered to close on Monday in accordance with recently published guidelines.

The “demand” issued to crypto businesses prohibited lending services at physical crypto ATMs. Five crypto machines are scattered across the mall in Singapore, two of which were confirmed inactive after ordering on Tuesday. Bloomberg Transfer.

It represents the Monetary Authority of Singapore’s latest effort to regulate the crypto sector. Providing exposure to digital assets to local residents through ATMs has facilitated impulsive cryptocurrency transactions and facilitated transaction decisions without considering the associated risks, MAS said. insist on.

Twitter takes a big leap and brings verifiable NFT profile photos to the timeline

Jack Dorsey’s Bitcoin-only philosophy appears to have been upended after this feature was released. advertisement Consider the NFT profile picture verification feature for Twitter Blue users.

With the tech giant becoming one of the first social media platforms to integrate NFTs into their apps, Twitter Blue subscribers on iOS devices can connect crypto wallets to their Twitter profiles to display their NFTs. would be like.

While many users already use NFT in their profiles, Twitter has added digital technical authentication and verification to show true ownership. In addition, the profile picture is different in shape, with an exquisite hexagonal structure that is different from the regular round profile picture of the platform.

However, Twitter does not explain how to download NFT profile pictures, convert them to digital collections, and handle right-clicks who can use them as their own NFT profile pictures.

The social networks also said that new NFT features are still under active development and it is unclear if they will be rolled out to the general community on the platform.

As with DeFi, Ethereum is losing out to the rival NFT ecosystem, warns JP Morgan

In a note recently sent to clients, JP Morgan hypothesizes that Ethereum is steadily losing market share to smaller networks like Solana. Solana has consistently outperformed Ethereum in NFT volume share since August 2021. This was at a time when the NFT landscape was beginning to grow exponentially.

A team of investment banking analysts explained that Ethereum suffers from congestion issues and rising gas prices. This is an unsuitable factor for users who want to create NFTs. Competing ecosystems such as Solana, Wax and Tezos attract immigrant users to their circles.

Nikolaos Panegilzoglou, who led the research team, explained that Ethereum’s market advantage in this area has decreased by 15% over the year. At the beginning of 2021, the ecosystem had a 90% advantage, but now it is 80%.

Panjerzoglu also explained that this trend is emerging.more sustainable As the years go by, this market change could have a huge impact on Ethereum’s reputation.

This may be a concern as JP Morgan has assumed that Ethereum’s market share in NFTs is significantly more valuable than DeFi. Your reason for being an NFT is”The fastest growing universe in the crypto ecosystem. “

MicroStrategy CEO says it will ‘raise’ $5 billion bitcoin stash

Michael Saylor, CEO of MicroStrategy, stated that his company does not sell Bitcoin in its wallet, but sticks to buying and storing it exclusively.

Saylor’s comments come when the mood surrounding the cryptocurrency market is bearish and digital assets are barely being sought after. The executives argued that even if the BTC market drops by as much as 40% to support below $40,000, there is no need to panic.

As a sailor claimed he was feeling.great comfortIn Bitcoin, given the high levels of inflation that fiat money exhibits, he argued that by dodging Bitcoin, his company had set up a fairly good position for the inflationary environment.

He previously predicted that Bitcoin would be worth $600,000 in the future and eventually $6 million at the end of last year. However, his firm belief in Bitcoin has yet to be repaid at this time, as Bitcoin’s stock price has fallen by 16% last year, despite a 35% increase in Bitcoin over the same period.

Intel will launch a more efficient ASIC miner, with Ohio-based startups as its first major customer.

California-based chip maker Intel is said to be planning to launch an ultra-low-voltage, energy-efficient ASIC miner at the ISSCC meeting scheduled for late next month.

Tom’s devicesThe first published story suggested that the next project would be that Bitcoin’s ASIC would be consistent with Intel’s patent for the improved SHA-256 data path submitted to IC 2018. This is also important because Bitcoin uses the SHA-256 cryptographic hash algorithm.

In an interview late last year, Intel’s systems and graphics architect, Raja Kodori, showed the company was interested in this project. He said technology manufacturers are working on improving hardware to overcome the limitations of high cost and high power for blockchain validation.

“Bonanza Mine”, a mining chip slated to be released by Intel, this time too Fox Business..

It is reported that Ohio-based mining startup GRIID has reached an agreement with the chip maker to become the first recipient of the BZM2 ASIC miner. According to the S-4 filing by GRIID, the supply of bitcoin mining equipment will begin this year. “big share” From the Intel pool for future miners.

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