We at TheCoinRise are back with another daily crypto news roundup for December 20 with all the market sentiment, regulatory comments, collaborations, and disputes.
After the weekend’s slight green spots, the crypto market is again bleeding, with the largest cryptocurrency Bitcoin going down by 3% in the last 24 hours. The total crypto market capitalization is down by 4.2%, sitting at $2.13 trillion.
The largest altcoin, Ethereum, is also down by 2.5% in the last day and is hovering around the $3,800 zone. Other major coins like Solana (SOL), Polkadot (DOT), and Polygon (MATIC) are also down by 6.7%, 5.5%, and 6.5%, respectively.
The market needs a strong pullback with bitcoin’s stable stay above the $53,000 level to resume any strong upward movement. As per the data by Glassnode, BTC miners are keeping their BTC holding despite the continuous bearish trends. This has resulted in Bitcoin miners’ unspent BTC supply approaching the ATH.
MicroStrategy is on the way to making profits from its Bitcoin holdings
The huge Bitcoin supporter and MicroStrategy CEO Michael Saylor discussed various ways which the company can take to generate passive income from its heavy BTC holdings.
The company that recently bought additional 7,002 BTC units owns a total of 122,478 BTC as of December 10. These holdings contribute hugely to the company’s market capitalization.
Saylor suggested many ways, including lending to a trustworthy counterparty, putting a mortgage on the company’s BTC, partnering with major tech companies or banks, etc.
Decentraland joins hands NBA champion, Stephen Curry
Since Facebook’s announcement about its entry into the metaverse world, many companies has started coming forward to try their hands on the technology. Crypto market’s most famous metaverse project Decentraland (MANA), has announced a huge partnership with NBA champion Stephen Curry.
The company officially announced the new collaboration and hinted at the launch of a potential new product on its Twitter account.
Bitcoin book to change regulators’ mind gets 5x funding
Eight Bitcoin proponents have come forward to initiate a Kickstarter effort to publish an instructive book for the United States federal government to decrease their reliance on the standard media narrative on virtual assets. The campaign has collected around $23,150 in its funding round, around five times more than its expected goal of $5,000.
The book came into the picture after the House of Representatives in the nation passed the $1.2 trillion bipartisan infrastructure bill recently.
Instagram exploring NFT integration
The most widely used image and video sharing social media giant Instagram has confirmed that it is exploring ways to integrate non-fungible tokens (NFT) on its platform.
The CEO of the company Adam Mosseri said that the company is looking at NFTs and what it could do to make NFTs more accessible to its growing user base. Instagram is yet to officially announce the integration of any such feature, but Mosseri’s statements made it all clear to the general public.
RadioShack celebrates 100 years by new DeFi and NFT collection
The electronic component seller and hardware specialist RadioShack has recently turned 100 years old. It has decided to celebrate its 100th anniversary by embracing digital assets and has announced the launch of a DeFi protocol along with NFT collectibles.
The company has not made any official announcement yet but has indirectly altered its Twitter bio and website to promote its new vision to “be the first protocol to bridge the gap in mainstream usage of DeFi.”
It would be interesting to see which direction cryptocurrencies take from here as the year is nearing the end, and everyone is eyeing yearly candle-closing prices. Interestingly, as TheCoinRise reported, the legendary investor Robert Kiyosaki has predicted the worst market crash due to fake inflation in the coming future.
The decentralized nature, which is massively advocated by the king coin’s proponents, is once again in check as a recent research study by The National Bureau of Economic Research reveals that less than 1% of the Bitcoin holders own 27% of the total supply. The data shows that nearly 10,000 BTC holders hold around 5 million Bitcoin units of 18,905,993 in circulation.
Many market experts are stressing on playing it safe as the market is maturing, resulting in the extension of the Bitcoin bull run. TheCoinRise will be coming back tomorrow with a new daily roundup for you.