Crypto News Daily roundup for December 10

With all the regulatory statements, collaborations, controversies, and a stagnant market, TheCoinRise is back with another daily crypto roundup for December 10.

Despite much bullish news all around the world with continuous institutional money inflow, the crypto market is still bleeding. The top cryptocurrency Bitcoin, has been hovering around the $50,000 zone for the past six days. It is still showing stagnant behavior by sitting down by 0.5% in the past 24 hours. 

Ethereum, the king of altcoins, has been down by more than 3.5% in the past 24 hours and is currently trading at $4,163. We cannot say anything about the entry of the bullish attitude before Bitcoin crosses some critical levels, as TheCoinRise explained in this daily roundup. The major gainers for the day are Flux (FLUX), which got a fresh listing on Binance, and Badger DAO (BADGER), surging their values by 74% and 25%, respectively. The biggest losers, on the other hand, are WAX (WAXP) and Keep Network (KEEP), down by 9% and 6%, respectively.

A Congressman’s jokes lead to Mongoose Coin’s emergence

After the recent jokes by California’s democratic representative Brad Sherman over cryptocurrencies about how senseless a “Mongoose Coin” would be, it is no more imagination. The Mongoose Coin ($MONG) calls the crypto community to make the token a symbol of the fight against regulatory bodies. 

The Congressman cited the competitions among different crypto tokens like SHIB and DOGE, pointing out that ETH might overtake BTC and DOGE might overtake ETH. Subsequently, some random coin like the Mongoose Coin might overtake DOGE.

Ubisoft’s NFT project Quartz faces huge criticism

An ambitious step by the French gaming giant Ubisoft Entertainment SA, launching its first NFT project, Quartz received huge criticism from the crypto and gaming community. The beta launch of the Quartz via a YouTube video saw a dislike ratio of more than 96%, clearly showing the unpleasantness of the gamers. 

Ubisoft’s strong interest in blockchain technology and NFT led to the launch of its own NFT platform, Quartz, and subsequently the recent launch. Several posts on Twitter and Reddit urged the gaming community to boycott the company’s products.

Tribal Credit partners with Bitso and Stellar

Mexico-based enterprise payment firm Tribal Credit has joined hands with Bitso and Stellar development Foundation aiming for a better cross-border business-to-business (B2B) alternative for the business community. The crypto exchange Bitso and the Stellar will help the company offer more use cases for blockchain technology to the region.

The partnership will open doors to firms to pay for goods and services in the Peso and their business partners from the United States receiving payments in dollars (USDT).

MicroStrategy advises buying more BTC by selling $10 trillion of Gold

MicroStrategy, the pro-Bitcoin firm shopping Bitcoin multiple times in the ongoing dip, says that one should sell $10 trillion market-capped Gold to buy Bitcoins. The co-founder and head of the company, Michael Saylor, recently said that the gold investment model should be dumped as the growth of the king coin is a long-term threat to the largest asset class, Gold.

Before this, Saylor already said that the Bitcoin ETF would replace Gold ETF in the near future. 

Binance plans to launch a crypto exchange in Indonesia

Binance is reportedly talking to the big names in Indonesia to open a crypto exchange in the country. It is seeking to finalize a crypto venture with Budi and Michael Hortono, the richest siblings in the country, along with the biggest state-owned telecom company PT Telkom Indonesia.

The country previously announced its plans on the rollout of the Central Bank Digital Currency (CBDC) to oust Bitcoin.

Robert Kiyosaki predicts the biggest crash ahead

The business tycoon and author of the best-seller “Rich Dad Poor Dad” Robert Kiyosaki believes that the world economy will see the worst crash of all time, including the stock market, gold, and silver along with the crypto market. 

As per the legend, the fake inflation scenario, leading to a spike in the fear index, would be the biggest cause of the crash. 

Microsoft’s M12 Series B provides $27 million to Palm NFT

Palm Network, which calls itself a collective of technology, crypto art, entertainment, art industry leaders, has announced the finalization of a $27 million Series B funding round led by M12 venture fund by Microsoft.

Ava Labs to join Mastercards’ Start Path Crypto Program

Ava Labs, the company behind the Avalanche blockchain protocol, has reportedly joined Mastercard’s Start Path Crypto initiative. To accelerate the development of enterprise blockchain applications, the blockchain startup will also be joining other previously onboarded tech pioneers in the program.

Ava Labs will join the development of new value-added services and blockchain protocol development prospects with other partners of the Start Path Crypto initiative to increase safety and simplicity for consumers, organizations, and developers to innovate.

The most-probably extended bull run cycle might bring surprises for its loyal investors, and it would be interesting to see how much the market gains at the end of this bull run. TheCoinRise will be back tomorrow with another daily roundup.