The NFT market has attracted great attention in recent years, and many people have begun exploring this industry.

[NFT](/news/category/nft-news) is an abbreviation of non-fungible token, which is a one-of-a-kind digital asset that cannot be copied or traded for anything else. NFTs may symbolise anything, from art to music or tweets to virtual real estate. The NFT market is predicted to develop drastically in 2023, and we will see more innovative applications for this technology.

What is the NFT market? It is a place where individuals can trade, buy, and sell unique items. This internet marketplace is similar to an auction house but has a decentralised approach. That means no centralised entity governs it. As a result, anyone may participate in this open and transparent market.

The NFT industry is expected to grow in 2023 due to the increasing interest of content creators, such as artists and musicians. Many have already started using NFTs to sell their digital creations. NFTs allow them to verify the authenticity and ownership of their work and generate additional income. This allows artists to sell their work directly to their audience without middlemen. This notable trend is expected to continue as more artists embrace NFTs.

Another factor contributing to the NFT market growth is the increased use of blockchain technology. NFTs are built on blockchain tech, which provides secure and transparent storage and transfer of digital assets. More people will explore and engage in the NFT market as they become acquanited with this technology.

The NFT market is a prime example of how blockchain has the potential to revolutionise multiple sectors.

## NFT Use Cases

As the NFT market evolves, we can clearly see its expansion through various use cases. NFTs have the potential to represent many objects, and we can expect more innovative applications for this technology in the future. Many businesses are experimenting with using NFTs in areas such as ticketing, gaming, and [virtual real estate](/news/article/tokenized-real-estate). There is also the possibility of using NFTs for digital identification to resolve issues related to online identity verification.

Increased investor interest is another reason the NFT market is expected to grow. NFTs are established as a new asset class, and many investors are keen to learn more about them. As rare NFTs sell for millions of dollars, the market's liquidity is expected to soar as more people get involved.

The rise of NFTs is driven by vital factors such as the growing interest from content creators like artists and musicians, the acceptance of blockchain technology, the creation of new use cases, and investor interest. As the NFT industry thrives, it will create new possibilities for investors, artists, and other crucial market participants.

Learn more about NFTs and visit [Crypto Club Site](https://cryptoclubsite.com/).








Will the NFT Market Develop in 2023?

The UK's Financial Conduct Authority (FCA) recently approved the crypto-friendly financial app Revolut to conduct its digital asset business in the country. The licensing means that startups of any size [within the European Economic Area (EEA)](/news/article/revolut-news-approved-eea) can now buy, hold and sell cryptocurrencies from their Revolut business accounts. 

## Crypto for cross-border payments

A [2021 study](https://markets.businessinsider.com/news/currencies/multinationals-cryptocurrencies-bitcoin-ether-study-cross-borders-transactions-pymnts-2021-11 30, November 2021) showed an increasing demand for diverse payment methods offering speed and convenience as B2B [cross-border payments](/news/article/russia-approves-cross-border-crypto) were expected to exceed $35 trillion. Per the study, at least 37% of the multinationals involved in the study used at least one type of cryptocurrency. 

Revolut has introduced a business account to disrupt the traditional business banking models that are shackled with astronomical charges when sending payments abroad. Revolut business offers users a 'digital alternative to big banks'. While standard cross-border payments take an average of three to five days, with potential errors and delays as part of the deal, crypto-based payments occur in real time due to fewer negotiators in the blockchain.    

## Revolut rewriting the rules

As business goes global and consumers demand additional payment options, Revolut is facilitating seamless cross-border crypto transfers. The London-based fintech firm allows its account holders to access cryptocurrencies like Bitcoin, Ethereum, Litecoin, and other digital currencies alongside over 28 fiat currencies through its mobile app.

The business account from Revolut is rewriting the rules of engagement between small startups and large businesses and their local and global customers. Whether they’re sending payments or getting paid via crypto, account holders have access anytime, anywhere to manage their entire businesses with no hidden fees. Any company with a physical presence EEA is eligible for an account.   

## How it works 

Opening a Revolut business account is simple and takes less than ten minutes to complete, with the application process taking one to seven days. Users can choose between corporate or freelance accounts.   

Pros:

•	Fast and easy setup.

•	Different pricing options.

•	Exceptional price for international transfers.

•	Easy-to-use mobile app.

Cons: 

•	No cash deposits.

•	ATM withdrawals earn a fee.

## Conclusion 

Revolut offers freedom and flexibility for startups whose customers demand alternative payment methods. Its competitive pricing might be a good choice for companies conducting transactions in different cryptocurrencies.




Revolut Business - A new way to make crypto payments

Wrapping your head around Wrapped Luna, or WLUNA, cryptocurrency could prove a profitable investment, so let's dive straight into it.
WLUNA is a wrapped version of Luna cryptocurrency that belongs to the Terra ecosystem. But to fully understand what it is, we should first understand what a wrapped token means.

A wrapped token is a copy of a cryptocurrency on a blockchain separate from its native network and backed on a 1:1 basis. This is why a wrapped token's value is the same as its underlying native currencies. As such, wrapped coin holders can redeem them for the cryptocurrency they represent.

Speaking of the role wrapped tokens play in the crypto ecosystem, they increase interoperability between blockchains and are used to provide liquidity to a growing DeFi ecosystem.

Along similar lines, WLUNA is pegged to the value of Luna and has the same value as Luna.

## Rebranded as WLUNC

As seen on [CoinMarketCap](https://coinmarketcap.com/currencies/wrapped-luna-token/), by April 2022, there were an increasing number of different addresses holding Wrapped LUNA as the token became widely available. At the time, WLUNA was trading at $116, the same as the Luna.

However, this was before the [collapse of the Terra stablecoin](/news/article/terra-luna-collapse) and the subsequent crash of Luna in May 2022. After the collapse of the ecosystem, the Terra community voted to split the blockchain into two separate chains.

As such, the original chain was then rebranded as the Terra Classic network, which also led to the creation of a new LUNA Coin called LUNA Classic (LUNC). Its wrapped version was named Wrapped LUNA Classic (WLUNC).

Since WLUNC is tied to the value of Luna, it also suffered the same fate as the original cryptocurrency and lost 99.9% of its value. As of writing, WLUNC is trading at [$0.00023](https://coinmarketcap.com/currencies/wrapped-luna-token/).

## How does it work?

Unlike Luna, WLUNA is minted on Ethereum and is an ERC-20 token. WLUNA basically represents Luna on the Ethereum blockchain. 
As for how it works, you freeze your original tokens and mint Wrapped LUNA tokens on Ethereum. This way, you can make your idle Luna tokens work by locking them up in DeFi protocols.

Being based on the Ethereum blockchain allows it to be used on [Ethereum](/news/article/ether-price-prediction), which wasn't possible for Luna. This way, the holders of [WLUNA](https://www.livecoinwatch.com/price/WrappedLUNAToken-WLUNA) tokens not only get to utilize the Terra ecosystem but also participate in the vast and thriving DeFi ecosystem of Ethereum.

WLUNA is designed to provide Luna holders with greater liquidity and flexibility in using their Luna tokens.

So, if you have an Ethereum wallet, you can store, lend or borrow your WLUNA token on the decentralized applications (Dapps) built on the second-largest cryptocurrency network.

To buy WLUNC, you can head over to Coinbase and Uniswap.



Understanding Wrapped Luna

One of the preferred stablecoin options in 2022 is [TrueUSD](https://www.trueusd.com/), or also known as TUSD.

What is the TUSD crypto stablecoin? TUSD is an ERC-20 stablecoin that is fully backed up by the US dollar. At this time, it is one of the most trusted and securely regulated stablecoins using USD. It was created by the firm TrustToken Platform in order to combat the rise of fraud in the crypto space. It is backed up by TrustToken’s real provable fiat assets.
 
Large amounts of fraud have caused massive concerns about crypto adoption, especially among governments. This means that big-name exchanges and other companies in the crypto industry want to lower the risk for their clients. This is why stablecoins were created. 

## What is a stablecoin? 

In simplest terms, a stablecoin is a cryptocurrency of which the price is designed to be based on a reference asset. In the case of TrueUSD (TUSD), the reference asset is the US dollar. Volatility is mitigated by maintaining proven collateral. In the case of some stablecoins, an algorithm is used to keep the value steady and adjust supply based on a set of rules. 

## What can I do with TUSD crypto?

In the simplest terms, a stablecoin like TrueUSD (TUSD) can be seen as the “crypto version” of a real dollar.
 
However, the ease of moving and verifying cryptocurrency is often the trade-off for volatile prices and a lack of security. This is where stablecoins come in by mitigating the risk to investors and institutions by holding collateral. Here is where TrueUSD (TUSD) really shines.
TUSD crypto is one of the most heavily regulated stablecoins out there

## If you’re still reading, you are probably wondering: Is TUSD safe? 
 
The simple fact is this: TrustToken, the creators of TUSD crypto, are monumentally proud about their adherence to regulation as well as the fact that TUSD is backed by real assets.
 
The TrustToken platform has partnered with accounting giant [Armanino](https://www.armaninollp.com/industries/crypto-digital-assets/) to create TrustExplorer. According to Armanino’s Noah Buxton, Armanino is the first accounting firm to “formalize and complete a Proof of Reserves for a digital asset exchange.” Simply put, this is a way for those who hold digital assets on an exchange to verify that said exchange really has those assets! 

You can delve further into TrustToken regulatory compliance for yourself and get to know more about their partnerships on the [TrustToken](https://www.trusttoken.com/) website. 
 
## What makes TUSD crypto stand out from other stablecoins?

TrustToken Platform gets revenue in the form of interests in holding USD in their accounts. TUSD does not charge a fee for holders or for trading. This means there are zero or near-zero transaction fees associated with using TUSD.

## Bottom Line about the TUSD crypto stablecoin

Is TrueUSD (TUSD) here to stay? Is TUSD safe? TrueUSD is one of the USD stablecoins you must watch as a crypto investor. It is available on the Ethereum blockchain, which means that it is part of a growing ecosystem that is widely adopted in the crypto space. Also, adherence to regulation is key, and the TrustToken platform takes compliance and attestation very seriously. 



What is TUSD stablecoin?

E-Toro is a multi-asset online trading platform regulated by the UK's FCA Financial Conduct Authority (FCA). It is also regulated by the ASIC of Australia, CySec of Cyprus, GFSC of Gibraltar, and FinCen and FINRA of the United States of America (USA). 

Founded in 2007 by David Ring, Ronen Assia and Yoni Assia, E-Toro began as a forex trading platform before adding more assets, including crypto, in 2017. It quickly became one of the best trading platforms in existence. It currently serves over 200 million users in 140 countries worldwide. 


Among the many reasons E-Toro is liked and used by many traders and investors are its transparent fee structure, active community of users, and social features. One is Crypto Trader, a function that enables users to copy trades of experienced traders. 

 

This E-Toro UK review looks at what makes the trading platform worthwhile. 

## Why E-Toro Is a Great Trading Platform 

### 1. A multi-asset platform 

 

The platform allows users to trade over 2,000 financial assets, including stocks, commodities, indices, currencies, ETFs, and cryptocurrencies. A plus is that the assets can be invested with or without leverage, and traders can trade multiple purchases with a single account. 

 

### 2. Low fees 

 

Its service fees vary depending on the invested asset. However, they are pretty low. Opening a user account on the platform is free. There is no deposit or management fee even when traders copy other traders and invest in portfolios. There is no commission fee when investing in stocks. 

The platform, however, charges a 1% fee for crypto buyers and sellers. There is also a $5 withdrawal fee and a $10 monthly inactivity fee. 

 

### 3. Educational resources 

Users of the Israel-based platform also benefit from plenty of educational resources. The educational section is divided into News and Analysis, E-Toro Academy, E-Toro Plus, and The Bull Club. 

 

The News and Analysis section contains insightful investment information and the latest market news. The E-Toro Plus section lets users catch up on the latest market trends. The Bull Club section lets users gain investment knowledge from some of the world's most successful investors and financial leaders. 

 

The E-Toro Academy section provides investment resources to traders of all levels. There are resources ranging from beginner to advanced level investing. The area is divided into courses, topics, levels, and types. 

 

The types section allows users to learn about investing through guides, podcasts, webinars, and videos. They don't have to settle on one way of consuming content. Users also have the benefit of getting informed about upcoming webinars. Educational content is constantly getting updated. 

 

### 4. Social Trading 

 

Another plus for the platform is its social trading features. They include; 

 

Copy Trader: The function allows traders to copy the trading moves of top-performing traders in real time. There are plenty of top traders to choose from, and users can easily view valuable information about the trader's asset picks they wish to copy to ensure they are the best choice. 

Popular Investor Program: The program rewards traders for being copied. The more people copy a particular trader, the bigger their reward. The rewards are given on top of profits from trading and can reach as high as 2% of the copied trader's total AUC (assets under copy). 

Social News Feed: The feature enables users to follow financial instruments and traders they like, interact with other community members and participate in open discussions, and more. Users can post updates, share, and comment on other users' posts 

 

## How to Use E-Toro 

Go to https://www.etoro.com/ and create a user account. Click the highlighted "Start Investing" button to be taken to the sign-up page. You can create a user account with Google, Facebook, or your email. Remember to tick the acknowledgement boxes before clicking the "Create Account" button. 

 [![EtoroPicture1](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Etoro_Picture1_6f3c4a46e8.png)](https://med.etoro.com/B19665_A115115_Tclick_SArticle.aspx)

## Verify your account to start investing. 

Once you've verified your account, you can deposit funds to start investing or switch to a virtual version. The virtual account allows you to practice your trading skills without the risk of losing real money. $100,000 of demo money is available in your virtual account for practice. 

[ ![EtoroPicture2](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Etoro_Picture2_632e2f533d.png)](https://med.etoro.com/B19665_A115115_Tclick_SArticle.aspx)

The minimum you can deposit on the platform varies depending on your region and country's regulations. It can be between $10 and $10,000. Once you've funded your account, you can choose which asset to invest in or trade. It is worth noting that E-Toro only operates in USD. 

You can choose from close to invest or trade in 80 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Dash (DASH), and Litecoin (LTC). 

 [![EtoroPicture3](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Etoro_Picture3_5ac5b4b306.png)](https://med.etoro.com/B19665_A115115_Tclick_SArticle.aspx)

Click on the cryptocurrency you wish to invest in or trade; let's use Bitcoin (BTC) as an example for this E-Toro UK review. Once you click on the BTC icon, you'll be directed to a page with all the necessary information about BTC. 

 [![EtoroPicture4](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Etoro_Picture4_bcb280f1ba.png)](https://med.etoro.com/B19665_A115115_Tclick_SArticle.aspx)

When you click on the highlighted Trade button, a pop-up page will appear with the options to "Buy or Sell" BTC. The page also has a "Trade" button with a drop-down menu that will enable you to choose to place an "Order." 

[![EtoroPicture5](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Etoro_Picture5_f4b6729f28.png)](https://med.etoro.com/B19665_A115115_Tclick_SArticle.aspx)

## How to Start Trading 

E-Toro is an easy-to-use online trading platform. There is a "Help" section for anyone stuck using it. When you click the "Help" button, you'll get several guides to assist you when stuck. There is a search tab to type in your question for quick assistance. 

Some helpful guides to start with include: 

·     [How to verify your account ](https://www.etoro.com/customer-service/account-verification/)

·     [How to Deposit ](https://www.etoro.com/customer-service/deposit-faq/)

·     [How to Withdraw](https://www.etoro.com/customer-service/withdraw-faq/) 

·     [About Copy Trader ](https://www.etoro.com/customer-service/account-verification/)

 

The "Help" section also links to the [E-Toro Academy](https://www.etoro.com/academy/), where you can get more resources to help you learn about the platform and other investing and trading functions. 

 

## Bottom Line 

E-Toro is a great multi-asset social trading platform designed to cater to traders and investors of all levels, beginners and advanced. It is easy to use, has plenty of features, charges low fees, and has plenty of educational resources to help trade and invest in various assets. 





E-Toro Review - A beginners guide


[Eightcap](https://join.eightcap.com/visit/?bta=37262&brand=eightcap&afp=article) is an Australian FX and CFD broker providing online crypto and shares trading services to a wide range of clients from around the world. 

The company was founded in 2009 and it has been expanding ever since. It is based in Melbourne, Australia, with five offices around the world. Eightcap is regulated by the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Securities Commission of The Bahamas (SCB).

Users can enjoy the intuitive interface of the award-winning MT4 and MT5 platforms as well as automated trading capabilities and an advanced charting package. With functionality to integrate with TradingView for in-depth market analysis, compatible with signal sharing practices you will be sure not to miss a market beat!

## What makes using Eightcap such a bonus?

1)	Wide exposure to a multi-asset universe

The trading platform offers contracts for differences (CFDs) on more than 1000 financial instruments, including 350+ Australian, US, and European shares, 300+ crypto derivatives (including crypto crosses and crypto indices), 40+ major, minor and exotic currency pairs, the world’s largest stock indices, as well as commodities. 

2)	Award-winning customer service and educational resources

The Australian trading provider is best known for its excellent customer service. Clients get the support they require which is available 24 hours- 5 days a week. Eightcap’s support team is trusted by thousands of clients worldwide for being fast, reliable, and expertly trained to solve users’ queries. 

The CFD provider complements its offering with exclusive educational materials and insight from experts across the globe. 

Eightcap was awarded Best Forex Trading Support & Best Forex Educational Resources at the 2021 Global Forex Awards. 

3)	Ultra-low cost

Aside from the convenience that Eightcap offers to its clients, the broker has noteworthy pricing. The company’s ultra-low Forex spreads are five times lower than those of top Forex brokers (based on spreads data comparison with IC Markets Raw, XM, Pepperstone, IG Markets, OANDA, FxPro from January 2022 on [TradeProofer](https://tradeproofer.com/)). 

Furthermore, its crypto derivatives spreads are among the lowest on the market, starting from 12 p/coin for Bitcoin, 0.45 p/coin for Ethereum, 0.004 p/coin for Cardano, and 0.0002 p/coin for Dogecoin. The Australian CFD provider complements its offering with exclusive educational materials and insight from experts across the globe. 

## Other ways to earn

Eightcap’s award-winning [partner program](https://www.eightcap.partners/) is one that calls for a mention as well. CPAs up to $900 USD and rebates up to $6 USD per lot are but several of the rewards affiliates earn by partnering with the broker. 

## How to get started?

Go to [https://www.eightcap.com/en/](https://join.eightcap.com/visit/?bta=37262&brand=eightcap&afp=article) and create an account. Verify your account in  the email you registered with. 

[![eightcap 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/eightcap_1_5ab44b50b6.png)](https://join.eightcap.com/visit/?bta=37262&brand=eightcap&afp=article)

It’s as easy as 1, 2, 3…

1)	Complete your personal details 

[![eightcap 2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/eightcap_2_d78b22e859.png)](https://join.eightcap.com/visit/?bta=37262&brand=eightcap&afp=article)

2)	Set up your account

Choose your trading platform, account type, base currency and leverage

[![eightcap 3.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/eightcap_3_ab6c6be64d.png)](https://join.eightcap.com/visit/?bta=37262&brand=eightcap&afp=article)
 
3)	Complete your declaration

[![eightcap 4.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/eightcap_4_cee9668ae5.png)](https://join.eightcap.com/visit/?bta=37262&brand=eightcap&afp=article)
 
Last thing, you will be required to submit some essential documents
 
[![eightcap 5.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/eightcap_5_a1d1a47173.png)](https://join.eightcap.com/visit/?bta=37262&brand=eightcap&afp=article)

And you’re good to go!

## How to start trading?

Knowledge is power in the financial markets. Check out [Eightcap’s Trading Education](https://www.eightcap.com/en/education/) to start building a wealth of knowledge. This will guide you through fundamentals, trading strategies, MetaTrader Guides and how to trade. 

## Some great guide to start with are:

Platform-

•	[MT4 vs MT-which one is better](https://www.eightcap.com/en/education/metatrader-guides/mt4-vs-mt5-metatrader-platform-versions-compared-which-one-is-better/)

•	[How to install MT5 on Windows](https://www.eightcap.com/en/education/how-to-install-mt5-on-windows/)

•	[How to use the MT5 trading platform](https://www.eightcap.com/en/education/how-to-use-the-mt5-trading-platform/)

•	[How to trade cryptocurrency CFDs on MT5](https://www.eightcap.com/en/education/how-to-trade-cryptocurrency-cfds-on-mt5/)

•	[How to install MT4 on Windows](https://www.eightcap.com/en/education/metatrader-guides/download-install-login-mt4/)

•	[How to log in and sign out of MT4](https://www.eightcap.com/en/education/how-to-log-in-and-sign-out-of-mt4/)

•	[How to open and close trades in MT4](https://www.eightcap.com/en/education/metatrader-guides/how-to-open-and-close-trades-in-metatrader-4/)

•	[How to Buy and Sell On MT4](https://www.eightcap.com/en/education/buy-and-sell-on-mt4/) 

Educational-

•	[All you need to know about CFD accounts](https://www.eightcap.com/en/education/what-is-cfd-account/)

•	[How to start trading Bitcoin](https://www.eightcap.com/en/education/how-to-start-trading-bitcoin/)

•	[How to short sell Bitcoin and cryptocurrency CFDs](https://www.eightcap.com/en/education/how-to-short-sell-bitcoin-and-cryptocurrency-cfds/)

## Deposit and Withdrawals

Eightcap’s clients can choose from a variety of easy deposit methods. They can move funds in and out of their accounts in several currencies including crypto– USD, AUD, EUR, GBP, CAD, NZD, SGD, using debit or credit cards such as Mastercard/Visa, BTC, Tether, BPAY, China UnionPay (uPOP), Skrill, Neteller, PayPal, POLi, Worldpay, and Wire transfer.

## Bottom Line

If you’re looking for a CFD, FX and or crypto broker, Eightcap provides a trading platform with beginner to advanced functionality and wide ranging asset optionality at a market leading low cost. They have fantastic customer service and educational resources to support you throughout the peaks and troughs. Eightcap is the ideal platform to assist you in achieving alpha.


Eightcap Review- Beginners Guide

Mastercard and [Bakkt](/news/tag/bakkt) have [announced](https://www.businesswire.com/news/home/20211025005487/en/Mastercard-and-Bakkt-Partner-to-Offer-Innovative-Crypto-and-Loyalty-Solutions) that they are joining forces to enable crypto card payments. The aim is to make it easier for banks and financial firms to offer and accept crypto payments.

The partnership will roll out in the next few months. The project aims to pave the way for firms that want to offer crypto by letting them use [Mastercard’s network](/news/article/mastercard-crypto-asia) of banks and other financial institutions.

## Mastercard Look to Make Crypto Easier

"To spend cryptocurrency globally today, you need a very complex ecosystem," said Kelly Loefller, CEO at Bakkt, and chief market and corporate development officer at Mastercard.

"We will continue to work with merchants and consumers to make it easy for them to use cryptocurrency."

"Cryptocurrency is going to play a foundational role in the future of our new payment system. We feel that by joining forces, we'll be able to deliver more value".

## Some Reluctant to Trade Crypto

The new system is also designed to appeal to institutional investors who are still reluctant to trade crypto because of volatility and complexities.

"Every asset class can benefit from a more efficient and speedier processing cycle," Loefller said.

"That's what we're trying to accomplish here." 

Increasingly promising news of investment in cryptocurrency and blockchain technology is spreading throughout the traditional banking world, with this being one of many collaborations. There have also been rumours that Mastercard will hire new staff as part of their expanding interest in cryptocurrency over the coming years. Is this the first of many crypto collaborations for major companies? We will have to wait and see. 



Mastercard & Bakkt Partner to Accept Crypto

The world’s most heavily capitalised digital asset, Bitcoin, celebrated its 13th birthday last week, but the cryptocurrency market’s mood has been far from “celebratory,” despite all that Bitcoin has achieved since it was launched in 2009.   January 8th marked the seventh-straight day in a row that the digital asset’s value trended lower – Not since 2018 has there been such a steady decline.

Last year, while crypto-enthusiasts were applauding the digital assets market for finally achieving “mainstream adoption,” a crucial inflection point, other cryptocurrency analysts were trying to warn investors that the fever pitch and accelerated values may trigger a late year sell-off.  They were right. 

How did we get here?  As Bitcoin slips toward the psychological floor of $40K, crypto-investors are anxiously looking for any credible news or trends to suggest that the current market sell-off could finally be ending. 

Let’s all take a collective breath as we consider some important facts.

First, the month of January _always_ seems to spook investors with sudden dips.  This historically creates a domino effect that chases the newer investors out of the market, and it appears that 2022 will be more of the same.  Yes, this sell-off has been especially disconcerting as Bitcoin has shed 10% of its value in the first ten days of 2022, but a closer look at the market players reveals some answers. 

If one considers the role the Federal Reserve has had to play in all this, especially their reaction to the pandemic, the sell-off becomes less of a mystery.  During the pandemic, the Fed was very lenient on the economy and even went so far as to inject over $4 trillion into the economy.  It was a move to support the global marketplace while the world’s employers struggled to find a way to stay in business with much of their workforce needing (or wanting) to work remotely.  Now, as the world’s economies begin to stabilize, the Fed is starting to give signals that it may be thinking about taking some new steps to minimize the rate of inflation - rates that are now at their highest level in forty years.

A simple review of the minutes from last week’s Federal Reserve meeting served to only further fan those flames.  Word began to spread across the media channels, and the rout was on. 

It’s also worth noting that most investors still categorize cryptocurrencies as “high risk” investments.  In so doing, the cryptocurrency market will continue to react with _sell orders_ whenever the Fed hints at tempering the market like it did last week.  So, the big question becomes, especially for the investors who piled into the market late last year, when does this carnage end? 

As of this weekend, Bitcoin was down 35% from the all-time high, but some influential players are sensing better days are ahead.  Are they correct?  The price of Bitcoin is continuing to edge closer to the $39,570 mark.  That’s approximately where Bitcoin’s price hit a floor in September 2021, before going on an upward tear.

In fact, a strategist from Bloomberg made comments earlier suggesting that Bitcoin could _outperform_ traditional stocks in 2022, especially if any moves are made by the Fed to raise interest rates.  The strategist stated: “Cryptos are tops among the risky and speculative. If risk assets decline, it helps the Fed’s inflation fight. Becoming a global reserve asset, Bitcoin may be a primary beneficiary in that scenario.”

Remember, the technology behind these digital assets is still very new to the mainstream public, and there was a lot of FOMO activity that took place in late 2021.  As the market cools, it is establishing a new baseline.  We’ve been here before.

Is it time to pick up some bargains?

Cryptocurrencies Prices Plummet

Nike has [announced](https://news.nike.com/news/nike-acquires-rtfkt) that the acquisition of RTFKT, a leading brand that merges culture and gaming, on their website. RTFKT is a company that creates virtual shoes and NFTs (non-fungible tokens) for the gaming industry.

With this acquisition, Nike looks to expand their customer base to include gamers and digital content creators. The RTFKT team will continue to work on developing new products and services for Nike, with an aim to incorporate the RTFKT shoe 3D scanning technology into their products.

## What is RTFKT?

RTFKT was founded in 2020 by Benoit Pagotto, Chris Le and Steven Vasilev. Their main product is a virtual shoe that can be used during workouts or just for fun to play games with.

President and CEO of Nike Inc, John Donahoe said; “This acquisition is another step that accelerates Nike’s digital transformation and allows us to serve athletes and creators at the intersection of sport, creativity, gaming, and culture".

 “We’re acquiring a very talented team of creators with an authentic and connected brand. Our plan is to invest in the RTFKT brand, serve and grow their innovative and creative community and extend Nike’s digital footprint and capabilities.”  

“This is a unique opportunity to build the RTFKT brand and we are excited to benefit from Nike’s foundational strength and expertise to build the communities we love,” says Benoit Pagotto, one of RTFKT’s co-founders.

With this move, Nike looks to expand its digital footprint and capitalise on the growing trend of immersive content.


Nike acquires virtual shoe and NFT maker, RTFKT

Crypto hardware wallet technology provider, Ledger, has launched a debit card that will allow users to pay for goods and services with their crypto. The debit card has been named 'The Crypto Life' card, also known as 'CL', and was announced at the company's Op3n conference.

The CL card is linked to the user's Ledger Nano S hardware wallet, which is used to store their crypto assets. The card can be used at any merchant that accepts Visa cards. When a purchase is made, the relevant amount of crypto is transferred from the user's wallet to the merchant's account.

## Available to US and EU Customers

The debit card will be available to Ledger's US and EU customers, and users will be able to pay crypto to over 50 million retailers, Ledger said.

Ledger Chief Experience Officer Ian Rogers told [CoinDesk](https://www.coindesk.com/business/2021/12/09/wallet-maker-ledger-launches-crypto-linked-debit-card-for-us-and-eu-customers/) that the company began as an option to “HODL,” but that users “increasingly want to do more and more with crypto.”

“What we are trying to do is provide an alternative to the banking system, which is kind of broken for a lot of people,” Rogers said.



Ledger Wallet Launches Crypto Debit Card

Visa has [announced](https://www.visa.co.uk/about-visa/newsroom/press-releases.3149494.html) that they will be introducing a crypto advisory service to help partners 'navigate a new era of money movement'.

The consulting services will help clients advance their crypto journey as Claudio Di Nella, Head, Visa Consulting & Analytics, Europe said; "We seen a material shift in our clients’ mindset in the last year, from a desire to explore and experiment with crypto, to actually building a strategy and product roadmap.” The new consulting service will provide a framework to oversee the development of a better payment system using blockchain technology.

## Crypto Becoming More Popular

According to Visa, awareness of crypto among financial decision makers in the UK is increasing and is currently at 92%, suggesting that digital assets and cryptocurrencies are becoming more popular for financial institutions. Globally, awareness and adoption of crypto among consumers is also rising, with Visa discovering that one quarter of crypto-aware UK respondents have engaged with crypto directly.

Visa's major rivals Mastercard and American Express have been involved in the blockchain space for some time now. This business move by Visa is expected to bring immense competition to other competitors going ahead, who don't offer such services yet.

Visa has partnered with Chain to establish the Visa B2B Connect platform for cross-border payments. As per the official blog post of Visa, "Using Chain Core, Visa will be able to provide financial institutions with a new way to process business-to-business payments globally, while enabling payment flexibility and reducing costs."

More [Business news](/news/category/crypto-business-news).

Visa Announces Crypto Consulting Services

Twitter CEO, Jack Dorsey, has announced via Twitter that he is stepping down after almost 16 years.

In a [tweet](https://twitter.com/jack/status/1465347002426867720) from his personal Twitter account, Dorsey announced that he would be stepping down as CEO of Twitter and named former CTO, Parag Agrawal as the new CEO of Twitter, with immediate effect.

## New CEO Unanimously Appointed

Dorsey said in his announcement that he has decided it is time for him to leave, as the board of directors approved Agrawal and 'unanimously appointed' the new CEO. Dorsey also said that Bret Taylor has agreed to become the new Twitter board chair, which is another reason he will be stepping down, as he has confidence in Taylor to strengthen the board going forward.

Jack Dorsey is currently CEO of [Square](https://squareup.com/us/en), point-of-sale payments company that he founded before Twitter, and he will remain CEO of Square.

## Is Dorsey Focusing on Crypto?

Could this mean that Dorsey is focusing his efforts on the blockchain and cryptocurrency industry? He has previously [stated](https://twitter.com/jack/status/1424854924194729984) that bitcoin will eventually "unite the world" and become the world's 'single currency' in ten years.  

It is worth noting that Square's Cash App has added support for BTC trading, which indicates that he could be working on something bigger than his companies.

Jack Dorsey Steps Down as CEO of Twitter

The surge in Omicron value may simply be coincidence, but more likely points to some irrational thinking among crypto buyers.

Just hours after the World Health Organization (WHO) named a new variation of COVID-19 Omicron, there was a rally in the price of OMIC.

While the broader crypto market responded poorly to the identification of a ‘concerning’ new variant, the DeFi Protocol Omicron varient value saw gains.

Previously little-known, the cryptocurrency proved resilient and over the weekend saw its value increase 10 times over.

## Omicron- Digital Currency

According to one exchange, OMIC – a token of decentralised reserve currency protocol Omicron – saw bids grow from less than $70 late on Friday to around $690 by Sunday. At the time of writing the value was sitting at about $325.

Decentralised reserve currency protocol OMIC is a fork of Olympus on the Arbitrum Network1.

On its website, Omicron says OMIC ‘introduces unique economic and game-theoretic dynamics into the market through staking and bonding’.

It adds: ‘Our goal is to build a policy-controlled currency system…we believe this system can be used to optimise for stability and consistency so that OMIC can function as a global unit-of-account and medium-of-exchange currency.’

## No Connection to COVID-19

There is no connection to COVID-19

The token’s supply is capped at 1,000,000 OMIC, but many data providers do not provide details about the cryptocurrency’s market capitalisation. It is, however, backed by a basket of assets, including stablecoin USDC, and is listed solely on decentralised exchange SushiSwap.

The broader crypto market has also stabilised to an extent following the weekend stumble.

Omicron Variant Value Surges as COVID-19 Variant Named

Step aside NFTs, the metaverse and GameFi token craze is real. In what has been a dismal week for major cryptocurrencies like Bitcoin and Cardano, largely due to the signing of the US Infrastructure Bill, the rejection of a US spot Bitcoin ETF, crazy Bitcoin profit bookings, further Chinese crypto sanctions and news of the possibility of crypto being banned in India, many metaverse and gaming tokens have experienced considerable growth.

MANA, SAND and GALA in particular have witnessed substantial growth. Public sentiment is so bullish at the moment that a Decentraland patch of real estate [sold for nearly $2.43 million](https://www.reuters.com/markets/currencies/virtual-real-estate-plot-sells-record-24-million-2021-11-23/) on 23rd November! Following Facebook's rebranding to Meta last month, the world is looking at such projects with keen interest. GALA is a gaming asset worth looking at closely.

## What is GALA and should you buy it?

I am not giving you investment advice but wow, GALA sure is a fascinating investment prospect. In the past year, GALA has surged 200,000+% and reached an all-time high of nearly $0.06 on 25th November. GALA powers the Gala Games ecosystem, an Ethereum-based gaming network.

Gala Games currently offers 2 blockchain-based games and is developing 3 more. The decentralized ecosystem is controlled by its users – all decisions are taken by node holders and players, be it related to the development of a new game or what should be funded by the ecosystem.

Node holders can run nodes (Gala Nodes) via their computer systems and earn rewards such as GALA, limited edition NFTs and much more. You can purchase a Gala Node license for the same. All items that you win in-game are yours and are verifiable assets on the blockchain. GALA represents a long-term investment option, so explore its underlying project at your convenience.



Metaverse tokens and GameFi – a new trend

NFL player, Odell Beckham Jr, will be receiving his salary in Bitcoin (BTC) as he has entered into a partnership with [Cash App](https://cash.app/).

Beckham Jr. is a wide receiver for the Los Angeles Rams and reportedly currently earns a $4.25 million salary, which will now be converted into the digital asset.

## 'The Future Has Arrived'

"We're proud to be the first major sports team to embrace Bitcoin –The future has arrived." – Sterling Scott, founder of Cash App.

The partnership has been agreed upon by Cash App's owner, Square which will be paying Beckham Jr. his salary via the service. The app allows users to buy and store Bitcoin amongst other digital currencies.

## Swamped With Deals

Beckham Jr.'s announcement of the deal was made on social media using the Cash App where he also discussed how he was interested in the new technology, but he claimed that he had been swamped with "contracts and endorsement deals" which meant he could not pursue his interest in cryptocurrency until now.

The NFL star and receiver, Odell Beckham jr, said: "It's a NEW ERA & to kick that off I'm hyped to announce that I'm taking my new salary in bitcoin," on Twitter.

The football player also revealed he had invested a small amount of his own money into [Bitcoin](/coins/btc) earlier this year. 



NFL Star Odell Beckham Jr to Receive Salary in Bitcoin

Recent developments to the [Ethereum](/coins/eth) blockchain have finally made Ethereum a deflationary token.

Throughout 2021, Ethereum has been transitioning from a Proof of Work to a Proof of Stake consensus driven network. While this process has taken a considerable amount of time, the deflationary nature of Ethereum has finally come to pass.

## EIP-1559

Under the terms of the Ethereum Improvement Protocol (EIP 1559), every Ethereum transaction, from its August 2021 release forward, consisted of a percentage burn of the final transaction as the network transitioned toward the Proof of Stake model.

Now, for the first time since the upgrade, Ethereum is officially a deflationary token as more Ethereum is being burnt than generated, which will lead to its scarcity and an increase in its future value.

While this may sound like a cause for celebration, many original Ethereum miners are less than happy with the upgrade due to the loss of fee revenue which is associated with a mining and Proof of Work consensus model.

## Staking

As part of the new Proof of Stake model holders of Ethereum are able to loan their tokens back to the network to be used as a stake in order to generate passive income. The current going rate for staking Ethereum on the new network is around 4% per annum.

To date over 8.3 million Ethereum worth $34 billion have been staked and therefore locked up in contracts and taken off the open market. Together with the deflationary burn model the scarcity of Ethereum has seen the price of the token rise from $736 at the start of the year to $ 4200 today.  
  
Now that Ethereum is officially in deflationary status this value will automatically increase with every transaction. And with the merge to the official Ethereum 2.0 main net chalked for Spring 2022 many market commentators are expecting the price of Ethereum to witness a major surge through 2022.

## The last mile

Final testing is due to start in December and developers are focussing on this last mile of what has been a long and arduous process. According to a leading crypto exchange ‘Protocol Specialist’ Viktor Bunin the net issuance of Ethereum has reduced by 66% since the launch of EIP-1559 and as validators continue to replace miners the numbers will only increase.


Ethereum Price Becomes Deflationary

[Niantic Wayfarer](https://wayfarer.nianticlabs.com/new/), the creators of popular augmented reality game Pokemon Go, is planning to build a metaverse with £300 million funding from cryptocurrency investor, Coatue.

Niantic already has one of the most popular apps on mobile devices, with over 50 million players each month. The developer released an Apple Watch version of the game in its latest update, letting players catch Pokemon with a tap of the wrist.

The developers have promised more updates in the coming months, building on their experience creating Pokemon Go and Ingress - another augmented reality game that asks players to visit real-world locations to unlock special powers within the game.

## Investor Partners With Niantic

Coatue is a well-known crypto and blockchain investor which has previously helped to set up companies such as Fireblocks and MoonPay.

Coatue general partner, Matt Mazzeo told [CoinMarketCap](https://cointelegraph.com/news/valued-at-9b-pokemon-go-creator-to-build-metaverse-with-fresh-funding). “We are excited to partner with Niantic because we see this infrastructure supporting a metaverse for the real world and helping to power the next evolution of the internet."

He added; “Niantic is building a platform for AR based on a 3D map of the world that we believe will play a critical role in the next transition in computing".

Niantic is reportedly hoping to develop a real-world metaverse that will utilise technology to improve humans' experience of the world.

More [Metaverse news](/news/category/metaverse-news)

Niantic Wayfarer to Build Metaverse

Bitcoin has been legal tender alongside the U.S. dollar in El Salvador since September 2021.  Now, the nation’s popular President, Nayib Bukele, added further fuel to his “rock star” persona with an announcement this past Saturday that El Salvador would be building the world's first "Bitcoin City," to be initially funded by bitcoin-backed bonds.

It’s another clear indicator of Bukele’s growing affinity for cryptocurrencies and he appears to be doubling down on his bet to harness the power of the digital assets in order to fuel further investments in the Central American country.  The government has already backed Bitcoin with a $150 million fund and, to incentivize Salvadorans to use it, the El Salvadorian government has offered $30 worth of credit to those using its digital wallet.

**The Liquid Network**
----------------------

It has been announced that the new city would be built [near the Conchagua volcano](https://en.wikipedia.org/wiki/Conchagua_(volcano)) - Conchagua consists of two overlapping stratovolcanoes and overlooks the Gulf of Fonseca.  The geographical location is a deliberate move to take advantage of the available geothermal energy, converting it to a source of power both for the city and for more Bitcoin mining activities.  "This is a fully ecological city that works and is energized by a volcano” Bukele commented at the closing a week-long promotional event for Bitcoin. 

Government officials stated that the country would issue $1 billion in “bitcoin bonds” in 2022 to raise additional resources to fund the construction of Bitcoin City. The bonds are going to be issued on “[the Liquid Network](https://liquid.net/)” - a sidechain-based settlement network that _enables faster, more confidential Bitcoin transactions and the issuance of digital assets_ according to information posted on the site.

The Liquid Network is managed by [Blockstream](https://blockstream.com/) who said that $500 million of the funds raised will be dedicated to building the infrastructure for the city and additional bitcoin mining in the region.  The other $500 million would be used for, what else, the purchase of more bitcoin cryptocurrency.

**Zero Carbon Dioxide Emissions**
---------------------------------

Not to be easily outdone, the government plans to build their innovative city to look like the crypto coin from the sky when it's built.  Taxes will also be noticeably lacking from the new city considering there will be no property, income or municipal taxes, and the city is expected to have a level of zero carbon dioxide emissions.  Utopian in every conceivable way.

Some Salvadorans have vocalized their trepidation at Bukele’s well-publicized love affair with digital currencies with some protests being held against the government for its unbridled embrace of the digital assets.  Still, they’ve done little to harm his popularity and credibility with voters. 

Ultimately, the city would be built with the hopes of attracting more foreign investment.  Those with influence over the project have mentioned sites for residential areas, malls, restaurants, and a port.  Also, the El Salvador president mentioned ideas like digital education, technology, and sustainable public transportation.

“This is going to make El Salvador the financial center of the world,” Bukele said.



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