We at TheCoinRise are back with another daily crypto news roundup for December 21 with all the market sentiment, regulatory comments, collaborations, and disputes.
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Bitcoin has been very bearish for the past few weeks, and it seems that this bearishness will continue when 2021 ends. There are several investors who believe that BTC might need a small miracle to break above $50k by the end of the year.
However, on the whole, the market has been in greens for the past 24 hours, with Bitcoin reaching $49k while other tokens also follow. One of the biggest gainers includes Terra (LUNA), which continues to make new all-time highs.
Furthermore, the fear and greed index indicates that investors are in a state of fear as the market, again and again, retests the resistance levels. In order to break into an uptrend, bitcoin needs to move above the $53k price level.
Considering the current volume and other related metrics, this forecast isn’t quite probable for Bitcoin. Notably, Cardano-powered community media launchpad Flickto has announced details on its IDO (Initial DEX Offering).
Indian Parliament’s winter session agenda doesn’t include crypto bill
Indian investors are eagerly waiting for the final say of the government. Still, the country seems to let them wait for some time as the Parliament’s winter session plan does not include the crypto bill.
This indicates a delay in the presentation of the bill to the Parliament. The investors are expecting the involvement of regulators only as the country’s finance minister recently cleared false speculations and FUD around blanket banning of cryptocurrencies.
Dubai World Trade Centre becomes country’s crypto regulator
UAE or the United Arab Emirates is displaying a crypto-friendly attitude and has recently announced a fresh initiative to support local crypto development and regulations.
Under the initiative, the Dubai World Trade Centre or DWTC has been declared as the comprehensive regulatory body for crypto, digital products, exchanges, and operators.
The new regulator will construct a complete ecosystem for the innovative sector in the country under the plan. For this, DWTC will collaborate with the private sector to create an intriguing environment for the sector.
The country is also aiming for better and strict rules for investor protection, terrorist financing fight, and anti-money laundering measures through the initiative.
FTX US partners with MSE
The United States subsidiary of one of the biggest crypto exchanges in the world, FTX has joined hands with the Monumental Sports and Entertainment (MSE), the company that controls the working of four famous professional sports teams in Washington, D.C., to serve as the official crypto exchange and NFT partner.
MSE announced that the FTX US would become the official crypto partner of the four well-known teams through this major agreement. It also revealed that the NFT platform of the exchange giant would have exclusive rights to future token release by the given teams.
FTX is continuously expanding and solidifying its roots and recently secured a Super Bowl ad spot to display its support crypto in front of 92 million people.
Adidas Originals at second place on OpenSea
As TheCoinRise reported recently that Adidas Originals has jumped into the metaverse world by releasing its own NFT collection named “Into the Metaverse.” It has secured the second rank on the OpenSea marketplace by generating 11,391 Ether worth over $43 million in the last three days.
It has produced 30,000 copies on December 17 with the collaboration with Bored Ape Yacht Club, gmoney, and PUNKS Comic. As of now, around 20,000 pieces of phase 1 NFT have been sold.
The company recently collaborated with the crypto exchange giant Coinbase and exhibited its own Sandbox land plot. The rival company Nike has also grown its virtual reach by recently acquiring digital collectibles firm RTFKT, marking its entry in the metaverse sector.
Multichain grabs $60M fund led by Binance Labs
Multichain, previously known as Anyswap, has secured a $60 million fund via the funding round led by the venture capital arm of Binance, Binance Labs. The firm said that it would be using the fund in the expansion of its team and ecosystem along with the extension of research and development staff and crypto algorithm research team. The company will also use some of the funding amounts to improve its customer support base.
The cross-chain protocol has a TVL of over $5 billion and has around 300,000 customers on its platform.
Bent Finance suffers an attack
The staking and farming platform Bent Finance suffered a digital attack recently. However, the company has not revealed any infomation about the losses by reporting zero loss of funds. However, many investigators, including PackSheild, kept digging and found the source of the hack transitions.
The company urges the pool investors to withdraw funds before the company sorts the matter.
Various market analysts are emphasizing the importance of patience as the market matures, which has resulted in the extension of the Bitcoin bull run. Tomorrow, TheCoinRise will return with a new daily roundup for you.
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