Crypto News Daily roundup for December 9

With all the regulatory statements, collaborations, controversies, and a stagnant market, TheCoinRise is back with another daily crypto roundup for December 9.

Bitcoin is back to the $49,000 zone after trying hard to stand still above the $50,000 level. The king coin has been down by 2.5% in the last 24 hours, and it seems that we have to see some redness before the upward motion resumes. 

Previously, many market experts, including Nigel Green, said that Bitcoin could cross the $100,000 mark before 2021 ends, but it seems that we have to wait for 2022 to see it happening as recently, Bitwise CIO also agreed to this. The king coin has been down by 15% in the last seven days.

Ethereum, the largest altcoin, is also down by around 4% in the last 24 hours and is currently trading at $4,233. Other major coins like Polkadot (DOT) and Solana (SOL) went down by 20% and 22%, respectively. The experts now are giving reasons like institutional money inflow and spot BTC ETF approval to why Bitcoin and crypto market bull run could extend to 2022.

Animoca Brands’ crypto treasury up by five times in just 60 days

The metaverse and blockchain gaming giant Animoca Brands recently revealed that the treasury of the company has increased its value by more than five times in just 60 days during the period of September end to November end.

The company says that the main reason behind this massive success is its investments in metaverse tokens, including The Sandbox (SAND) and REVV (REVV).

Reserve Bank of India governor on CBDC

The central monetary authority, the Reserve Bank of India, is still showing a negative stance towards digital assets. RBI governor Shaktikanta Das expressed his concerns over the underlying risks of CBDC or Central bank digital currency. He stated that the authority has serious concerns over potential digital frauds posed by the digital rupee. He further compared these CBDC-related frauds with fake paper currency scams. 

The governor explained that there is a need to be extra cautious by incorporating strong CBDC Security systems with solid firewalls. He also revealed that the country is planning to bring its own digital currency by the first quarter of 2022.

Reserve Bank of Australia publishes its research project on CBDC

The Reserve Bank of Australia or RBA Posted a two-year-long research study, “Project Atom,” about wholesale CBDCs, focusing on finding benefits of digitizing and autonomizing traditional paper-based banking processes using distributed ledger technology (DLT), showing the country’s positive attitude towards the technology.

The conclusions of the study came amid the country’s revelation of its ambitions on world-leading no less than six crypto reforms. The research was conducted with the help of several big names of the country in the crypto industry: National Australia Bank (NAB), ConsenSys, Commonwealth Bank of Australia (CBA), Perpetual, and King & Wood Mallesons.

Eastern Caribbean CBDC extends 7 out of 8 nations

The mountainous Caribbean island Montserrat and the Commonwealth of Dominica, on November 7, joined in using the CBDC launched by the Eastern Caribbean Central Bank (ECCB). This implies that except Anguilla, all seven out of eight Eastern Caribbean countries have joined hands to apply CBDC in their economy.

ECCB, in March this year, joined hands with DCash to bring its own CBDC called “EC Dollar.”

Meta’s subsidiary WhatsApp starts testing payments using Novi Wallet

The social media giant and metaverse company Facebook, now rebranded as Meta, has intensified the expansion of its digital wallet Novi. The company’s messaging subsidiary WhatsApp has begun testing payment transactions using Novi Wallet amid huge regulatory pressure on Meta to seize its digital currency products.

The integration will be available in the United States to some limited users only, allowing them to send and receive money at a zero cost.

Coinbase plans to support crypto hardware wallets

During the Ledger Open Conference, crypto exchange giant Coinbase has recently announced that it is planning on integrating the crypto hardware wallet support, starting with Ledger. 

Ledger is well-known for its Ledger hardware wallet technology that provides a high level of security to its users for their crypto assets.

The seemingly 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.