The green crypto market is all here as the holiday season starts. TheCoinRise is back again with another daily crypto news roundup with all the market sentiment, collaborations, regulatory comments, and disputes.
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Bitcoin (BTC) was bullish for today; however, prices remained sluggish as the resistance at $53K is still very high. Furthermore, the world’s biggest crypto has to break above this level to actually turn into an uptrend.
On the other hand, Terra (LUNA) and Polygon (MATIC) achieved all-time highs, undergoing a correctional phase after it. The chances of new all-time highs are definitely possible as MATIC aims for a $3 price level.
Moreover, meme tokens Dogecoin (DOGE) and Shiba Inu (SHIB) continue their rivalry while metaverse tokens are consolidating the gains made in the past few weeks.
Next up, Ethereum (ETH) has been sluggish as well, trying to break into the $4200 important level but hasn’t been able to do so. The chances of ETH going towards $6k are high.
Turkish regulator fine Binance
The Financial Crimes Investigation Board (MASAK) of Turkey has fined the world’s biggest crypto exchange, Binance’s Turkish arm, BN Teknologi, a penalty worth $751,314.
The regulator has not cleared any clouds regarding the specifics, but it seems that Binance’s Turkish branch was not complying with the fresh Turkish rules that instruct crypto exchanges to track user information for taxation. The reports say that it is the first of a kind penalty on any crypto exchange in the country.
Kraken to bring NFT Marketplace
Jesse Powell, the founder and CEO of the crypto exchange platform Kraken has revealed that the exchange is planning on bringing an NFT marketplace to let users arrange their loans using the tokens as collateral.
The CEO added that the main aim behind the development of the marketplace is to offer custody, and the company is currently working on deposited NFTs’ liquidation value determination so that the users can use them as collateral for loans.
Ethereum ready to flip Bitcoin in 2022?
It has always been a matter of discussion on if the largest altcoin Etheruem would be able to flip the largest cryptocurrency, Bitcoin, along with the question when.
Ryan Selkis, the founder of the biggest on-chain data monitoring organization Messari, believes that the possibility of ETH breaching BTC to become the most valuable cryptocurrency in 2022 is as low as 20%.
India on crypto-related risks and frauds
India has been really active these days when it comes to crypto but has failed to clear its stance. After the Reserve Bank of India’s warning regarding digital attacks, police commissioner Shikha Goel warned the citizens of the country over the crypto-related risk and surge in cybercrimes, along with advice not to move their tokens to unapproved private wallets.
She adds that the fraudsters are using various ways to fool investors, and if someone gets fooled, there’s no way one can track the theft in digital currency.
Dogecoin Foundation brings First-Ever Roadmap
The non-profit group focused on supporting meme coin development, Dogecoin Foundation, has revealed its first-ever roadmap, including multiple projects and aspirations.
The roadmap looks at eight projects as of now, which also include the launch of LibDogecoin and GigaWallet, showcasing the liberal side of the meme coin king. This is the first trail map of the foundation in the eight years of history in the crypto world.
Binance secures the Operating License from Bahrain
The world’s largest crypto platform by trading volume, Binance has finally secured its first operating license from the first gulf state Bahrain, setting the exchange giant’s grand entry into the Middle East and North America region.
The exchange platform has recently released a press release announcing that it now has the leverage to start its functions as a crypto-asset Service Provider after getting the in-principle approval from Bahrain’s monetary authority, the Central Bank of Bahrain (CBB). The trading platform filed the application for the license to channel its course as an all-set regulatory exchange all over the country.
Iran Cuts Energy Supply to License Crypto Miners
The Iranian electricity administration has cut energy supplies to licensed crypto miners functioning in the nation in order to prepare for the coldest months.
According to a local news channel, the decision was announced by the chairman of the board and managing director of Iran Grid Management Company (Tavanir) Mostafa Rajabi Mashhadi, who stated that the power reduction is intended to reduce the usage of liquid fuels in power stations when temperatures drop.
As the market matures, various market analysts are underlining the significance of patience amid the extended Bitcoin bull run. Tomorrow, TheCoinRise will be back with a new daily roundup for you.
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