[Payeer](https://payeer.com/en/) was founded in 2012 as an e-wallet that enables users to receive money and shop online instantly without linking their external financial details, such as bank accounts, to their accounts.

Users in more than 200 countries can access it. Many people have taken to the idea of using the wallet because, like competitors such as PayPal, Neteller, and Skrill, it has a built-in payment exchange for systems such as VISA, Mastercard, Epay, QIWI, Advcash, and PerfectMoney.

## Payeer can be integrated with websites 

One of the reasons why millions are using the Payeer wallet is due to its numerous features. Like competitor wallets, individuals or organizations can integrate the service with their websites so that they can send, exchange, or accept fiat and cryptocurrency on their platforms. 

Some of the fiat currencies available to account holders include, but are not limited to, the US Dollar (USD), Euro (EUR), and Rouble (RUB). Cryptocurrencies accepted include [Bitcoin](/news/article/will-bitcoin-go-back-up) (BTC), [Ethereum](/news/article/why-is-ethereum-going-down) (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Dash (DASH), Tether (USDT), Ripple (XRP), Dogecoin (DOGE), and TRON (TRX). 

Due to the advancement in technology, users of smartphones and devices supported by iOS and Android can access the Payeer application. The app can be found on the Apple and Google Play Store. 

## Conclusion

With many wallets being created daily to meet the demand for intermediaries that can be used to access other financial opportunities, this wallet is one of the most promising.

While users can enjoy the benefits of a cryptocurrency exchange, they can also utilize it as a multicurrency account and issue instant payments, as well as transfers, without entering passwords.

More importantly, you should know that you are joining a large number of people contributing to the current revolution of the whole centralized financial systems should you become a wallet holder.


What is Payeer and Why are People Using It?

[DappRadar](https://dappradar.com/) is a global application store tailored to the needs of stakeholders of the decentralized finance (DeFi) space. 

The platform allows the tracking, analyzing, and discovery of decentralized applications (DApps), non-fungible tokens (NFTs) collections, DeFi projects, tokens, token swaps, and airdrops, among others.

Dragos Dunica and Skirmantas Januškas founded [DappRadar](https://dappradar.com/about-us) in 2018. They serve as the company's Chief Executive Officer (CEO) and Chief Data Officer (CDO).

As of 15 January, 2023, the platform that tags itself as actionable, multichain, and peerless provides coverage to the widest selection of applications in Web3 and Metaverse, tracking 13,187 DApps, 16,053 NFT collections, and 48 portfolios. Through this platform, developers, traders, and investors can view digital collectibles, and trending DApps, analyze the periodical volumes of certain applications and NFTs, and discover new blockchain technologies with promising innovations. The data tracking portal sees more than one million monthly users and employs 71 people. 

## DappRadar supports many blockchains

Despite the decentralized nature of the crypto industry, finding information for novices or beginners can be extremely difficult. 

DappRadar has rectified this problem by providing relevant data on more than 50 blockchains. Some blockchains being tracked include Ethereum, TRON, BNB Chain, Flow, Avalanche, Tezos, EOS, [Polygon](/news/article/polygon-crypto), IoTeX, Solana, Algorand, Cronos, Ronin, Immutable X, Celo, Fantom, and WAX. 

In September 2022, DappRadar [announced](https://dappradar.com/blog/dappradar-now-tracks-cardano-blockchain-dapps) the tracking of [Cardano](/news/article/cardano-analysis-and-explanation) DApps. This came on the back of a [Vasil Hard Fork](https://cointelegraph.com/news/what-cardano-s-vasil-hard-fork-means-for-the-blockchain) upgrade which enhanced Cardano's transaction speed. Aside from this, the upgrade triggered DApp development capacity, general usability, and security.

Some of the most popular blockchain DApps tracked by DappRadar include Splinterlands, Alien Worlds, PancakeSwap, Hooked, Planet IX, Farmers World, AtomicAssets, decentralized exchanges Uniswap V3 and V2, NFT marketplaces (OpenSea, X2Y2, and Magic Eden), Meta Apes, 1inch Network, ApeSwap, ApeCoin Staking, Axie Infinity, MetaMask Swap, QuickSwap, and NFT collection NFL ALL DAY.

## DappRadar provides periodical industry reports

To keep users of the platform and stakeholders of DeFi up-to-speed with developments in the industry, DappRadar provides quarterly reports about the state of the industry. The information covered mostly includes NFT trading volume, total transactions within a period, total value locked (TVL) in decentralized applications, and the growing use of airdrops as a marketing tool to draw millions of people to a particular project. 

In a recent report, it shed light on [Blur](https://dappradar.com/blog/new-dapps-report-blur-nft-trading-volume-spikes), one of the DApps based on Ethereum, which has generated more than $300 million in all-time sales in just three months. In the process, it has jumped into the top ten NFT marketplaces in the world.

## The project is supported by a cryptocurrency

Like many projects in the industry today, DappRadar is supported by a cryptocurrency called [RADAR](https://coinmarketcap.com/currencies/dappradar/). The coin was launched in December 2021 to support the platform’s quest of becoming a powerhouse in the shift from Web2 to new heights in the [Web3](/news/article/web3-games-raised-millions) and Metaverse. 

RADAR has many uses, such as serving as a governance token for holders who will contribute to making decisions about the platform.

RADAR can also be staked for passive income. Staking is where a significant number of a coin, in this case, RADAR, is locked up to help a Proof-of-Stake (PoS) blockchain validate transactions.

As of 15 January, 2023, more than 570 million RADARs are circulating in the market from a total and maximum supply of ten billion. RADAR reached an all-time high price of $0.0604 on 15 December, 2021 and tested an all-time low price of $0.004091 on 18 June, 2022.

The coin is supported by nine exchanges (centralized and decentralized). They are Bilaxy, MEXC Global, BKEX, CoinW, Uniswap V3, DigiFinex, Huobi Global, SushiSwap, and Crypto.com.

## Conclusion: Should I use DappRadar?

Millions of people now regard this platform as the best as it provides an all-in-one system due to the quality of its application programming interface (API). With this platform, you can find all the essential information about the emerging sector in one place, which can help you make decisions about decentralized exchanges, lending, yield aggregation, and NFT investing.


blue image of Dappradar logo over image of dapps

What is DappRadar and Why Do You Care?

Eager to join the Metaverse and want to buy Sandbox land? Here's how.

With virtual reality (VR), augmented reality (AR), and artificial intelligence (AI) becoming integral parts of our lives, individuals and organizations want to be a part of this growing sector. Increased interest in having a presence in the Metaverse led to Facebook rebranding itself as Meta Platforms Inc. In March 2022, banking and financial services company [HSBC](https://cointelegraph.com/news/hsbc-enters-the-sandbox-to-offer-educational-finance-games) entered the Metaverse through The Sandbox, intending to offer educational financial games to its customers.

While the market size of this booming sector is forecast to be worth [$825 billion](https://www.prnewswire.com/news-releases/metaverse-market-size-worth--824-53-billion-globally-by-2030-at-39-1-cagr-verified-market-research-301585725.html#:~:text=Metaverse%20Market%20size%20worth%20%24%20824.53,CAGR%3A%20Verified%20Market%20Research%C2%AE) by 2030, how can you buy land from The Sandbox so that you can contribute to the development of this growing industry?

## Buy Sandbox land: What is The Sandbox?

It is an integral part of Metaverse gaming, allowing users to create, distribute, and monetize their in-world goods and gaming experiences. Despite its popularity, The Sandbox does not reside in an independent blockchain. Instead, it is housed on Ethereum.

Engaging with The Sandbox involves experiences such as Play-to-Earn (P2E) and Free-to-Play (F2P). Opportunities on the platform are not limited to just gamers. Creators and landowners also have an equal chance of making passive income from The Sandbox Metaverse.

Many colours can be found on The Sandbox. Each represents the state of LANDs on the platform. GREEN is a symbol of ESTATEs and LANDs that belong to other people. RED represents ESTATEs and LANDs owned by you. YELLOW shows premium LANDs that can be purchased due to their availability. GRAY indicates ESTATEs and LANDs that are available on the market and can be purchased. 

PURPLE denotes ESTATEs and LANDs that you and others have booked. Should you come across BLUE, you should know that it represents ESTATEs and LANDs that have been reserved for Game Maker Fund recipients and partners of The Sandbox.

Now that you know the main tenets of the platform, let us investigate how you can buy land on The Sandbox.

## Buy Sandbox land

To buy virtual properties, you must go through the following steps.

### (1) Create an account on The Sandbox

You cannot buy a piece of virtual real estate if you are not a platform member. You can [sign up](https://www.sandbox.game/en/sign/?redirectTo=%2Fen%2F) directly by connecting your wallet. While many wallets support SAND tokens, such as Ledger, imToken, Coinbase Wallet, TokenPocket, iToken Wallet, Coinomi Wallet, Freewallet, TrustWallet, ABC Wallet, Ambire Wallet, SafePal, and Math Wallet, The Sandbox recommends the use of [MetaMask](/news/article/what-is-metamask). 

Aside from directly signing up with a crypto wallet, you can also create an account using your Google Mail or Facebook details.

You have to FUND your crypto wallet with SAND, the novel token of this Metaverse application. Since the platform is housed on Ethereum, its native asset in the form of Ether (ETH) acts as the base currency that oversees all transactions on the current Proof-of-Stake (PoS) blockchain. Therefore, you need to fund your wallet with ETH as well. With SAND and ETH in your wallet, you can navigate to finding LAND on the menu. 

### (2) LAND selection

Search for the "LAND/MAP" option on your screen. Before you find this, note that there are two main types of LAND in The Sandbox. They are PREMIUM and REGULAR LANDs. Regular Lands can be likened to residential areas where lands are occupied by houses. 

Premium Lands can be compared to the commercial areas of cities where social hubs and the major partners of The Sandbox can be found. Such areas come with relatively higher traffic than regular lands. Premium lands are denoted by YELLOW, while Regular lands are shown in GRAY.

### (3) Buy virtual land

Select the LAND you want to buy. With your crypto wallet containing SAND and ETH, you can buy a virtual land by following the notification messages on your wallet.

## Buy land through OpenSea

As the largest NFT marketplace by volume, you may prefer buying LAND from OpenSea. With this, you can click on [The Sandbox](https://www.sandbox.game/en/) and scroll down until you find BECOME A LAND OWNER. 

Click on BUY LAND and it will redirect you to OpenSea. 

There are [1,253](https://opensea.io/collection/sandbox?search%5bsortAscending%5d=true&search%5bsortBy%5d=UNIT_PRICE&search%5btoggles%5d%5b0%5d=BUY_NOW&search%5btoggles%5d%5b1%5d=ON_AUCTION) Sandbox-related items on the biggest NFT marketplace. Click on the LAND you want to buy, connect your crypto wallet to OpenSea, and make the purchase. 

Since LAND is priced in ETH, you will need to fund that wallet with the primary cryptocurrency of Ethereum. 

## Conclusion

In any investment, you should always weigh the pros against the cons. If the potential rewards from buying LAND from the Sandbox Metaverse outpace the risks, you can invest in the virtual land.

As of 16 January, 2023, total sales stand at more than [$370 million](https://www.cryptoslam.io/the-sandbox) by more than 30,000 buyers involved in over 69,000 transactions.


pink image of sandbox land map and sandbox logo

Buy Sandbox Land - A Simple Guide

Reddit NFT continued to trend online in December 2022 due to its massive impact on the non-fungible token (NFT) market. It is a kind of avatar that can be bought on the Reddit marketplace. Launched in July 2022, the Reddit NFT marketplace provides users of Reddit (a popular network site where contents are shared and various topics discussed), known as Redditors, a platform to buy blockchain-based images for a set price.

## What are some of the types of Reddit NFT? 

Unlike NFT projects such as the Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Bored Ape Kennel Club (BAKC), and Otherside for Otherdeeds, which is backed by a huge developer like Yuga Labs, Reddit has forgone mainstream companies. Instead, Reddit has partnered with several independent artists to create diverse designs which can be patronized by the billions of people across the globe that visit Reddit.com.

Despite several NFT types on Reddit, the main and exclusive NFT collection launched by the popular networking site is CryptoSnoos.

Like other NFTs, CryptoSnoos has different features that help determine scarcity. CryptoSnoos are grouped into Rare, Epic, and Legendary. While Epic CryptoSnoos NFTs are limited and Rare CryptoSnoos NFTs are extremely limited, Legendary CryptoSnoos NFTs are unique. This is why prices of Legendary NFTs are higher than Epic and Rare NFTs. 

## What blockchain houses the Reddit NFT

The team behind the NFT chose Polygon to house the digital collectibles. Polygon was selected because it is a layer 2 scaling solution that has found an answer to the blockchain trilemma of decentralization, security, and scalability. Once a particular protocol finds an answer to the blockchain scalability problems, transaction costs related to the use of blockchain are reduced to the barest minimum.

As of 17 December, 2022, collectibles on Reddit have contributed to the [$40 billion](https://www.cryptoslam.io/blockchains/polygon) in sales Polygon-based NFTs have generated in the six months to December. In addition to Reddit collectibles, some of the avatar collectibles minted on Polygon include, but are not limited to, Doodle Collection, Cute Snacks, and 5 Boro Bodega. 

As of December 2022, the total sales volume from Reddit collectible avatars was [$11.95 million](https://dune.com/polygon_analytics/reddit-collectible-avatars), and there were more than [four million collectible avatar holders](https://dune.com/queries/1428687/2423544). There are more than four million single collectible avatar holders, and more than five million [collectible avatars](https://dune.com/queries/1428579/2423370) are in the market.  

## Where to buy NFTs from Reddit?

NFTs can be bought and sold on different NFT marketplaces. While some of the best NFTs to invest in can be found on multiple platforms such as Nifty Gateway, LooksRare, Rarible, and X2Y2, the best NFT marketplace to buy digital images is OpenSea - aside from Reddit’s marketplace. Bank cards can be used to buy NFTs on Reddit, but OpenSea is crypto only.

Before you purchase digital art that can be used as a profile picture on your social media channels on OpenSea, you need to have a crypto wallet. Some of the crypto wallets that support
OpenSea includes Rainbow Wallet, MetaMask, Coinbase Wallet, and TrustWallet. Since the digital collectibles are housed in the ecosystem of Polygon, you need the native asset of Polygon, MATIC. You can also hold Ether (ETH), the native asset of Ethereum, since most of the NFTs sold on OpenSea are priced in that cryptocurrency.

Once you have MATIC, you can connect your wallet to OpenSea, search for NFTs with links to Reddit, make a purchase, and your digital collectible with be deposited into your crypto wallet. 

## Conclusion

NFTs by Reddit continue to see huge liquidity due to the popularity of Reddit as a networking website. As a result, you can invest in the NFTs with an eye on future sales due to the increasing usage and patronage of Reddit and its collections.

But, like all investments, you should consider the pros and cons of investing in digital collectibles from Reddit before you risk your hard-earned money on digital collectibles. 


Reddit NFT: What is it and where can I buy one?

Ruja Ignatova, the infamous name placed on the FBI's Ten Most Wanted Fugitives List, has reappeared due to the listing of a luxury London penthouse flat bought by the crypto scammer, a [BBC](https://www.bbc.com/news/uk-england-london-64407723) report disclosed. 

Details of the £12.5 million listing were revealed as part of new transparency rules in the UK, which require owners of properties to be publicly displayed.

The "Crypto Queen" and her associates made off with around £3.2 billion (around $4 billion) from her [cryptocurrency](/news/article/what-is-future-of-cryptocurrency), OneCoin. The BBC estimates that investors from the UK alone lost more than £100 million.

UK authorities believe she is trying to facilitate the sale of her property from the shadows. The reappearance of the name Ruja Ignativa - who did so much harm to stakeholders in her fake cryptocurrency - has reignited hope that some lost funds could be recouped.

A former investor in OneCoin, Layla Begum, said her family lost more than £54,000 after she was persuaded by a friend to risk money on the emerging crypto project. She said that UK authorities could help British investors who lost money in OneCoin since the purchase of the London flat undoubtedly came from proceeds in the crypto scam.

## Reward for information on Ruja Ignatova

While UK prosecutors are trying to avoid proceeds of the sale going back to the coffers of the scammers, the FBI has placed an £80,600 ($100,000) bounty on the head of Ruja Ingatova. 

In 2019, a federal jury in New York found [Mark Scott](https://www.bbc.com/news/technology-50509299), a former lawyer with links to OneCoin, guilty of conspiracy to commit bank fraud and money laundering after helping route more than £300 million out of the US.

The brother of the Crypto Queen, Konstantin Ignatova, also pled guilty to the same charges.

The latest guilty plea came from [Sebastian Greenwood](/news/article/onecoin-scam-co-founder-admits-fraud), co-founder of the worthless cryptocurrency, in December when he admitted engaging in fraud and money laundering.


red image of ruja ignatova in front of onecoin logos

Has Ruja Ignatova, Crypto Queen, Reappeared? 

CloneX has broken ranks in just 12 months to become one of the ten best-selling NFTs by all-time sales volume. It has generated approximately [$775 million](https://www.cryptoslam.io/clonex/sales/summary) from December 2021 to date, data from NFT aggregator CryptoSlam shows.

While many articles online continue to give a vague explanation of what the NFT is, there is more to CloneX than just being pieces of digital art in the blockchain technology of Ethereum. 

Launched in November 2021, CloneX NFT comprises a collection of 20,000 3D avatars called clones, designed with a broad focus in mind. The 20,000 3D anime avatars, the size of profile pictures (PFPs), come in eight deoxyribonucleic acid (DNA) types.

The DNA types are Human, Murakami, Demon, Angel, Undead, Robot, Reptile, and Alien. Among them, the alien DNA subtype is the rarest. It has 15 to 50 avatars, representing just 0.075% to 0.25% of the total collection.

The second rarest clone comes from Murakami. Murakami clones came about in October 2021 when [RTFKT](https://twitter.com/RTFKT/status/1454101172265132039?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1454101172265132039%7Ctwgr%5E3d3022ef7bf58e92ab668e68cc3d0c67025c1478%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fnftnow.com%2Fart%2Frtfkt-partners-with-takashi-murakami-clone-x-project%2F) announced, via its verified Twitter account, that it had partnered with Japanese pop art sensation Takashi Murakami for its CloneX avatar project. Murakami raised the project's profile due to his more than 300,000 Twitter followers being exposed to CloneX NFTs. 

While half of the NFTs (about 10,000) are Human DNA subtypes, three-tenths (around 6,000) are Robots, and two-tenths (roughly 4,000) are Undeads, Reptiles, Demons, and Angels. You should note that a tiny fraction of the Human DNA subtype possesses the "vitiligo" trait. This is a disease that causes patches of skin color loss that became synonymous with pop icon Michael Jackson.

Each of the 20,000 clones is also a turnkey. Thus they are ready to be used with the global fashion brand Nike and with RTFKT Studios, which employs the latest Web3 technology to create digital artifacts such as one-of-a-kind sneakers' Metaverse.

The Metaverse is what many analysts in the computer industry believe is the future of the internet as a single, universal, and immersive virtual world facilitated via the use of augmented and virtual reality headsets.

## Is CloneX NFTs' success down to Nike and RTFKT? 

Like other digital collections in the NFT sector, CloneX NFTs would have remained unknown for some time without its direct links to the global reach of Nike since the NFTs are made by RTFKT (pronounced artifact).

[Nike acquired RTFKT Studios](https://nftnow.com/news/nike-acquires-rtfkt-nft-studios/) in December 2021. President and CEO of Nike, Inc., John Donahue, said of the acquisition that Nike planned to invest in the RTFKT brand so that Nike's digital footprint and capabilities could be extended in the NFT sector.

Many industry experts expect the digital footprint to include the Metaverse, which has been forecasted to reach [$824.53 billion](https://www.prnewswire.com/news-releases/metaverse-market-size-worth--824-53-billion-globally-by-2030-at-39-1-cagr-verified-market-research-301585725.html) by 2030. 

Nike's acquisition of CloneX maker RTFKT impacted sales of the NFT, which soared in December 2021 to reach approximately [$187 million](https://www.cryptoslam.io/clonex/sales/summary?groupingtype=daily&month=2021-12) from the activities of 3,785 unique buyers and 3,025 unique sellers who contributed to 6,482 transactions. 

The average sale value of CloneX NFTs during the last month of 2021 was $28,867. Monthly sales volume for December 2021 remains at its all-time high, and that figure is still higher than the total sales volumes of MekaVerse, NFT Worlds, Adidas Originals, Okay Bears, Invisible Friends, Ethereum Name Service, Cool Pets, Gods Unchained, and World of Women Galaxy, as of 8 December, 2022.

## Nike impact on the NFT sector aside from CloneX NFTs

Nike Inc. filed for a patent for its blockchain-compatible sneakers dubbed [CryptoKicks](https://thenextweb.com/news/nike-blockchain-sneakers-cryptokick-patent) in 2019. The patent was officially issued in December 2019 by USPTO (the United States Patent and Trademark Office).

With this patent, Nike can use the possibilities of blockchain technology through cryptography to tie digital assets to a physical product. Nike took advantage of its partnership with RTFKT by launching RTFKT Nike Dunk Genesis CryptoKicks, a collection of 20,000 NFTs, in April 2022.

As of 8 December, 2022, the collection has generated more than [$19 million](https://www.cryptoslam.io/mnlthrvld/sales/summary) in all-time sales and falls into the top 300 NFT collections by total sales. CryptoKicks and other NFT activities which involve Nike have contributed to Nike Inc. topping a list of NFT brands by total NFT revenue. 

As of 8 December, 2022, Nike NFT revenue was [$185.74 million](https://dune.com/kingjames23/nft-project-possible-data-to-use), seven times more than second place Dolce & Gabbana, which had $23.69 million.
 
Nike took another step into Web3 and the Metaverse by filing three trademarks for its [DOTSWOOSH](https://twitter.com/KondoudisLaw/status/1594657887367925760) in November 2022 with the USPTO. The applications cover virtual, crypto goods marketplaces, virtual footwear, clothing, sports gear, and custom manufacture of real-world versions of digital footwear and apparel, among others.

## How do I get CloneX NFT?

CloneX NFTs can be found on NFT marketplaces such as LooksRare and [OpenSea](/news/article/nft-hackers-passports). Since OpenSea is the largest NFT marketplace by volume, we would like to direct you on how you can get the Clone digital collectibles on the platform. 

Firstly, you must create a crypto wallet that will store your NFTs. Several wallets support OpenSea, such as TrustWallet, Coinbase Wallet, Rainbow Wallet, and MetaMask. Once you create a wallet, private keys ranging from 12 to 24 words must be stored appropriately, and you need to buy ether (ETH). 

As the second step, ETH is the native asset of the [Ethereum](/news/article/ethereum-the-merge) ecosystem and oversees all transactions on the blockchain. CloneX is Ethereum-based and therefore needs ether to facilitate the transaction on OpenSea. Once you have ETH deposited in your wallet, you can connect it to OpenSea. 

On OpenSea, you can search for CloneX and buy one of the 20,000 NFTs available for sale. Once the purchase is complete, the CloneX NFT purchased will be deposited directly into your [crypto wallet](/news/article/tony-fadell-launches-crypto-wallet).



pink image of Clonex logo on pink background image of Anime girl NFT

Are RTFKT and Nike Behind CloneX NFTs Success?

The cryptocurrency market has experienced massive growth and sharp declines in the past two years. Total crypto market capitalization rose by 283% from $782 billion on 1 January, 2021 to $3 trillion on 10 November, 2021. Since that day, the market cap of the entire crypto market has plunged by 72% to around $815 billion on 9 December, 2022.

While the massive growth was attributed to a significant rise in institutional adoption of cryptocurrencies as a method of payment and an investment instrument, most of the decline has been attributed to waning interests by crypto enthusiasts, global macroeconomic instability, and the collapse of popular crypto projects.

In December 2017, when BTC reached a peak of $20,000 (resulting in a bear market through 2018 and 2019), many analysts predicted the end of Bitcoin and the entire decentralized finance market. Most market analysts affirmed their positions on the future of crypto in the next 5 years when the financial markets (centralized and decentralized) plummeted to all-time lows during the peak of the coronavirus pandemic in March and April 2020. 

Despite their forecasts, BTC and [Ethereum](/news/article/neo-network-china-ethereum) (ETH) weathered the storm and exchanged hands for more than $60,000 and $4,000, respectively, in November 2021.

Five years on from BTCs peak in 2017, some analysts believe crypto could rise to the moon and recover. Others believe the crypto market could stabilize, while the naysayers think the next five years look like a bad period for the future of crypto, which could see it crash and burn. Skeptics should know that the era where demand and supply determined the price of cryptocurrencies is over. Whether crypto will boom or go bust in 2023 and beyond depends on regulation in the United States and abroad, the rise in the demand for crypto-tied exchange-traded funds (ETFs), and the mass adoption of cryptocurrency as a method of payment and an investment asset by individuals and mainstream companies.  

## Government regulation could brighten the future of crypto in the next 5 years

Despite the potential of decentralized lending platforms, which give users above-average minimum annual percentage yields (APYs) of 5%, billions of people have stayed away from many decentralized applications (Dapps).

Aside from the two most popular cryptocurrencies in the form of BTC and ETH, other digital assets like Shiba Inu (SHIB), Dogecoin (DOGE), and SafeMoon (SAFEMOON) have brought more than 10,000% gains to investors in a short period. Despite the quick earnings in less than one year, billions of potential investors have stayed away from investing in cryptocurrencies and using Dapps to earn a consistent passive income because they are unregulated by institutions they trust.

According to a June 2022 study by [The Ascent](https://www.fool.com/the-ascent/research/study-americans-cryptocurrency/), which is part of the Motley Fool, around 46.5 million Americans who have never engaged with any cryptocurrency said they are considering becoming crypto owners in 2023. 

The same study said that more than half of Americans surveyed who have never owned cryptocurrency said they would consider purchasing the new asset class if they could store their coins and tokens in their primary bank.

More importantly, around 50% of Americans believe crypto should be regulated.

The United Kingdom’s top regulator, the [Financial Conduct Authority](/news/article/ftx-uk-warning) (FCA), revealed its [crypto asset consumer research for 2021](https://www.fca.org.uk/publications/research/research-note-cryptoasset-consumer-research-2021), and findings showed the need for regulation. 

Many residents said they have heard about stablecoins, especially the United States Dollar Tether (USDT) and the United States Dollar Coin (USDC). Stablecoins are cryptocurrencies pegged to fiat currencies such as the USD, Euro (EUR), or Great Britain Pound (GBP). 

Around 59% of people surveyed said they stored their digital assets on the cryptocurrency exchange from which they purchased. About 24% made it known that they have zoomed into self-custody and, as a result, store their coins in digital [wallets](/news/article/tony-fadell-launches-crypto-wallet). Some pointed out that they have opted for hardware wallets due to their traits of being offline and not in the reach of cybercriminals who spread malware to compromise wallets and make off with billions of dollars in stolen crypto.

Bitcoin was the most popular coin, followed by Ethereum, Litecoin (LTC), Ripple (XRP), and Bitcoin Cash (BCH).
The FCA’s concern was that ownership had risen significantly from 1.9 million in 2020 to 2.3 million in 2021. 

According to the [FCA](/news/article/uk-crypto-license), many investors mistakenly believe that the cryptocurrencies they engage with have regulatory protection, which they don't. Due to a lack of regulation, about 43% of people surveyed said they were discouraged from buying crypto due to the consumer warnings on the FCA's website. Mistaken beliefs and a lack of understanding about an industry that continues to experience billions of dollars in losses are the reasons why crypto should be regulated.

## The future of crypto in the next 5 years

Chris Oldfield, the co-founder of Fitburn, told Moni Talks:
"Predicting the future of crypto in the next 5 years is hardly possible. However, we can look at it from different perspectives, investors, companies, and banks. From an investor's perspective, crypto is the only way to own an uncontrollable asset in many countries around the world.

This applies to both buying and selling. Investors still have the opportunity to get in early enough to position themselves well and earn high returns over time, contrary to previous asset levels.

"This also applies to day traders, who find a very young and strongly fluctuating market. Companies can quickly and easily digitize their business through the smart implementation of blockchain technology and build a fiat-independent trading business through cryptocurrencies with various partners worldwide."

Without regulation, millions continue to pour billions of dollars into the crypto industry. Regulations will give investors protection, which could motivate new investors to get involved with the new asset class and keep it alive.

"In general, I am very optimistic about the future of crypto, although we should keep an eye on regulations imposed by countries. Especially macroeconomically, crypto is volatile and can quickly be shaken by new laws and regulations. All in all, it will still take some time and some ups and downs until cryptocurrencies shape our everyday lives," Oldfield added.

Aside from government regulation, other industry-wide factors could influence the future of cryptocurrency in the next 5 years. 

## The impact of alternative blockchains is essential to the future of crypto in the next 5 years

The Proof-of-Work (PoW) blockchain had environmental concerns due to its high carbon emissions. Proof of the impact of PoW chains can be attributed to the use of the most popular cryptocurrency, Bitcoin.

Due to the power needed by BTC, it has been estimated that the first cryptocurrency creates more climate damage than global beef production.

Such environmental concern is why [Tesla](https://www.cnbc.com/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html#:~:text=Tesla%20announced%20Monday%20it%20has,maximize%20returns%20on%20our%20cash.%E2%80%9D) and Wikipedia broke their relationships with BTC after announcing the cryptocurrency as a payment method earlier.

Stakeholders of the crypto industry have not overlooked the adverse effects of PoW. This is why many developers have jumped into Proof-of-Stake (PoS) blockchains.

Ethereum has embraced PoS in its transition from PoW in September 2022 and other blockchains, such as Solana, Avalanche, TRON, Algorand, and Binance Smart Chain. Its introduction has made it easy for networks to process thousands of transactions every second while maintaining security.

PoS blockchains do not rely on application-specific integrated circuits (ASICs) but instead rely on Central Processing Units (CPUs) and Graphic Processing Units (GPUs) powering desktops and laptops to validate transactions.

This has led to a substantial reduction in high energy consumption, with most PoS chains tagging themselves as zero-carbon technologies.

Many reports point to the fact that an improvement in transaction validation could be a primary factor in the future of crypto in the next 5 years. This is because decentralized finance applications and non-fungible tokens (NFT) can be used with their transactions processed without any security problems or network congestion.

"As a blockchain is a great tool for transactions traceability and transparency, and smart contracts play an important and reliable role in securing transactions in a very cost-efficient way, eliminating mediators, most likely that crypto will replace a huge part of the traditional fiat transactions.

"On the other hand, the crypto ecosystem is moving forward, developing amazing monitoring and tracing tools that enable the regulators and community to identify suspicious transactions, wallets, and projects. This will lead to purity and maturity to minimize scams, hence big adoption in various businesses," Mohammed AlKaff AlHashmi, co-founder and Chief Brand Officer (CBO) at Islamic Coin, told MoniTalks.

## Broader institutional adoption could create a great path for crypto

The market capitalization of crypto reached a peak of $3 trillion because of institutional adoption. Three of the institutions that took the market to such heights were Tesla Inc., Grayscale, and MicroStrategy. 

In February 2021, Tesla announced that it had purchased $1.5 billion in BTC. Bitcoin reached a then peak of [$58,330.57](https://coinmarketcap.com/currencies/bitcoin/historical-data/) on the back of the purchase on 21 February, 2021.

As of September 2022, MicroStrategy’s total BTC holdings were 130,000, up 42% from March 2021’s total holdings of 91,064 BTC. Co-founder of MicroStrategy Michel Saylor has been a huge proponent of BTC since his firm began investing in BTC as far back as August 2020, when 21,454 BTC were purchased for $250 million. 

[Grayscale Investments](https://grayscale.com/) is the largest digital asset management company in the world. The firm launched Grayscale Bitcoin Trust in September 2013 and followed this up with Grayscale Ethereum Trust in December 2017. Due to the success of BTC and ETH Trusts, Grayscale followed up with Trusts for [Filecoin](https://grayscale.com/products/grayscale-filecoin-trust/) in March 2021, [Solana](https://grayscale.com/products/grayscale-solana-trust/) in November 2021, [Decentraland](https://grayscale.com/products/grayscale-decentraland-trust/) in February 2021, [Chainlink](https://grayscale.com/products/grayscale-chainlink-trust/) in February 2021, [Livepeer](https://grayscale.com/products/grayscale-livepeer-trust/) in March 2021, and [Basic Attention Token](https://grayscale.com/products/grayscale-basic-attention-token-trust/) in February 2021. 

Despite the plunge in market prices, Grayscale remains unshaken and continues to maintain the Trusts.

A repeat of the investments made by these companies in the future could keep the crypto industry alive for many years. 
Aside from making direct investments in crypto, the adoption of crypto trading by mainstream companies can also bode well for the future of crypto. 

On 1 November 2022, [MoneyGram](https://ir.moneygram.com/news-releases/news-release-details/moneygram-introduces-new-crypto-service-enabling-customers-buy), a cross-border payment company, announced the launch of what it called a new crypto service that enables its customers to buy, hold, and sell cryptocurrency via its MoneyGram App. This saw MoneyGram join other financial services firms like PayPal Inc. and Skrill (from PaySafe Group, which also includes Neteller) in allowing their customers to buy, store, and sell cryptocurrencies on its platform. 

MoneyGram is one of the biggest names in cross-border payments. If more companies join in offering crypto services to millions of their customers, this could positively impact the fortunes of crypto in the future.

## Acceptance of ETF vital to the future of crypto

In centralized finance, an exchange-traded fund (ETF) comprises a basket of securities bought and sold via a stock exchange or a brokerage firm. Since BTC is the first and most popular cryptocurrency, ETFs backed by the cryptocurrency have been trending over the past few years.

 Bitcoin ETFs are pools of BTC-related assets offered on trading exchanges by brokerages to be traded as ETFs. The purpose of BTC ETFs and other crypto-backed EFTs that will be joining the industry is to give retail investors and other investors who are not comfortable with investing in cryptocurrencies access to digital assets without actually owning them. 

Some of the best Bitcoin ETFs as of December 2022 are ProShares Bitcoin Strategy ETF (BITO), Valkyrie Bitcoin Strategy ETF (BTF), VanEck Bitcoin Strategy ETF (XBTF), AdvisorShares Managed Bitcoin Strategy ETF (CRYP), Global X Blockchain & Bitcoin Strategy ETF (BITS), and ProShares Short Bitcoin ETF (BITI). 

## Crypto investor and community support essential

Despite the need for regulation, the use of PoS blockchains, mainstream adoption by major corporations, and crypto-backed ETFs, the future of crypto in the next 5 years still depends on crypto investors and the crypto community.

Without the community, the crypto industry wouldn’t have survived into its 13th year. While many naysayers have predicted doom for the crypto sector, some industry experts remain optimistic about the future of crypto. One of them is Slava Demchuk, co-founder of AMLBot, founder of the AMLSafe app, and CEO of PureFi. 

He told MoniTalks: "The cryptocurrency ecosystem is developing rapidly, with growing investor interest and increasing transparency of crypto issuers and intermediaries. 

The convenience, speed, and security of cryptocurrency payments will continue to improve gradually. Due to the formation of a legal framework, comprehensive regulation, and oversight, cryptocurrencies will have a clear legal status, and market participants will have the right to legally conduct business and protect their interests. Most likely, all these developments will contribute to the spread of payments in cryptocurrencies, and their share in people's savings and investment portfolios will increase. 

Exchanges will de facto turn into brokers and send information about their trading activities to the tax authorities at the place of the user's tax residency. 

Cryptocurrency will get its own tax status and method of accounting and valuation. Higher transparency of the cryptosphere will lead to the situation when it will be almost impossible to use dirty crypto anywhere."

Despite the positives, crypto still faces an uncertain future and needs to tackle its cybercriminals' problems as well as find an answer to its emerging competitor in central bank digital currencies (CBDCs). 

## The future of crypto in the next 5 years looks uncertain

While many believe crypto is the future of money, the emergence of national digital currencies could end this narrative. 

China banned banks from interacting with cryptocurrencies in 2013 and followed this up with the banning of initial coin offerings (a way of raising funds to support crypto projects just like what is done in the stock market called initial public offering) in 2017. The country’s attention turned to crypto mining in 2019, and in May 2021, China banned crypto and mining. 

As a major power of the 21st century, China took the lead by launching the digital Yuan (e-CNY) in 2021, and millions of Chinese are using the national digital currency. 

According to the People’s Bank of China (PBOC), the e-CNY app had around 261 million users as of the end of 2021 and has been involved in more than 360 million transactions worth over $14 billion. The digital Yuan is available to residents in 23 cities across the country. 

China’s lead in CBDC has been embraced by other countries such as The Bahamas and Sweden. The [Dominican Republic](https://newsdirect.com/news/dominica-selects-tron-as-its-national-blockchain-to-issue-the-countrys-official-coin-607432614) announced in October 2022 that it had selected TRON as its national blockchain as it plans to issue its first official coin, Dominica Coin (DMC).

In November 2022, the Federal Reserve of the state of New York launched a digital dollar pilot program with nine financial institutions, which included Mastercard, Wells Fargo, and Citibank, to test the utility of a digital dollar using distributed ledger technology (DLT). Millions of Americans and billions worldwide are also concerned about crypto scams.

If cybercriminals continue to have their way due to a lack of regulation, crypto could crash and burn in the future.



bue image of man walking in futureistic city with bitcoins falling from sky

The Future of Crypto in the Next 5 Years 

Entering 'is crypto regulated' as a search term on Google returns 15.9 million results in 0.50 seconds. Entering the same phrase, is crypto regulated, into Yahoo brought forth thousands of search results.

The millions of results indicate that skeptics of the emerging industry are interested in what regulatory bodies worldwide have done and continue to do to ensure the safety of investor money.

While some regulatory agencies have made efforts, the lows and highs of the crypto finance sector have made it difficult for regulators to design a comprehensive global regulatory framework for this booming industry.

In the beginning, crypto projects such as Namecoin (NMC), Peercoin (PPC), Novacoin (NVC), Terracoin (TRC), Devcoin (DVC), and WorldCoin (WDC) were low-cap digital assets (had less than $2 billion as market capitalization) with less useful underlying infrastructure. Innovative technologies back current projects.

This is why projects such as Solana (SOL), Cardano (ADA), Ripple (XRP), Ethereum (ETH), TRON (TRX), Polkadot (DOT), Cosmos (ATOM), Algorand (ALGO), and Flow (FLOW) have market caps that range in the billions of dollars. 

As of the end of November 2022, the market capitalization of Bitcoin (BTC) alone was bigger than that of Samsung, Bank of America, Coca-Cola, PepsiCo, Oracle, Alibaba, Shell, Toyota, McDonald, Nike, and Morgan Stanley.

During the peak of the markets in November 2021, BTC's market cap was [higher](https://companiesmarketcap.com/) than Walmart and Visa and competed with Alphabet (Google), Microsoft, and Apple in terms of market value. 

The boom in crypto, which saw BTC and Ethereum rise to all-time highs (ATH) of [$68,789.63](https://coinmarketcap.com/currencies/bitcoin/) and [$4,891.70](https://coinmarketcap.com/currencies/ethereum/), benefitted a particular group in the decentralized finance (DeFi) sector. That group was cryptocurrency exchanges. 

Binance, FTX, Mandala Exchange, Upbit, MEXC, Coinbase, Bitrue, OKX, Gate.io, Crypto.com, Huobi, and CoinTiger saw record revenue generation due to the fear of mission out (FOMO) taking over the market in 2021. FOMO saw billions of dollars poured into the crypto industry, bringing at least 1,000% gains for several unsophisticated traders and investors (those that lack crypto knowledge and do not conduct fundamental or technical analysis before making decisions).

Blockchain technology and cryptocurrency were on a high throughout 2021, and another area, called DeFi, started attracting a new audience. The new audience was hard-working individuals fed up with the infinitesimal interest rates offered by traditional finance (TradFi).

While the real interest rate in the US was 2.3% in 2020, according to the [World Bank](https://data.worldbank.org/indicator/FR.INR.RINR?locations=US), the interest rate fell below zero in 2021. This could not be compared to the minimum annual percentage yield (APY) of 5% offered by DeFi lending platforms and certain exchanges through staking services. The boom in crypto lending led to the creation of several now-insolvent firms, such as Voyager and Celsius.

Millions of people have lost more than a trillion dollars since November 2021, with the current crypto market capitalization below $1 trillion a year later. Much blame has been placed on cryptocurrency exchanges and crypto lending firms. While these firms bear the lion's share of the responsibility, many potential traders ask 'is crypto regulated' in their jurisdiction so that they will not fall victim to investment losses due to the rapid collapse of crypto companies.

## Is crypto regulated by SEC in the United States?

Cryptocurrencies are found on a blockchain and can be stored in crypto wallets. They are primarily traded on a cryptocurrency exchange, of which there are two types: centralized exchanges (CEXs) and decentralized exchanges (DEXs).

The best way to differentiate them is compliance with rules and regulations. While CEXs comply with rules such as Know Your Customer (KYC), which helps prevent money laundering and combat terrorism financing, DEXs thrive on anonymity. They do not require users to submit any documents for review.

Despite this, CEXs record more volume than DEXs. A great example can be attributed to Binance. It is the largest CEX by volume, seeing more liquidity in the first two days of October (around [$66 billion](https://nomics.com/exchanges/binance/history)) than Uniswap, the largest DEX by volume, which recorded around [$42 billion](https://dune.com/queries/1847/3261) throughout the month. Such statistics by CEXs have made them the go-to platforms for several traders. 

The collapse of FTX in November, and the reduction of staff by others such as Crypto.com, Coinbase, BlockFi, Bybit, and Gemini in previous months, have led to calls for crypto regulation. 

Many industry experts have asked why the top regulator in the US, the Securities and Exchange Commission (SEC), maintains focus on the "cryptocurrency securities" relationship, with an eye on its case with Ripple, instead of drawing up a comprehensive regulatory framework that will answer the question is crypto regulated in America. 

In the US, Coinbase is the biggest exchange by trading volume and is a centralized exchange. The exchange has the necessary licenses for operations in more than 40 US states.

Despite this, Coinbase is not insured by FDIC, the Federal Deposit Insurance Corporation. The FDIC is an independent governing body created by US Congress in 1933 to maintain public confidence and stability in the country's financial system.

If the exchange with the most customers in the country is not insured due to "cryptocurrency" not being subject to the protections of the FDIC or Securities Investor Protection Corporation (SIPC), many people may lose hope in the crypto industry due to a lack of regulation.

Blame continues to be placed on the SEC, but the Commodity Futures Trading Commission (CFTC) has also been drawn into the 'is crypto regulated' trend.

In 2015, the [CFTC](https://www.cftc.gov/digitalassets/index.htm) said it classifies virtual currencies like BTC as commodities under the Commodity Exchange Act (CEA). In September 2022, SEC Chair [Gary Gensler](https://www.investopedia.com/gensler-on-crypto-6544288#:~:text=U.S.%20Securities%20and%20Exchange%20Commission%20Chair%20Gary%20Gensler%20said%20most,and%20other%20crypto%2Drelated%20issues.) affirmed his stance on classifying cryptocurrencies as securities. 

This is the reason why current CFTC Commissioner Summer K. Mersinger told crypto news portal [Coindesk](https://www.coindesk.com/policy/2022/11/28/regulating-crypto-not-a-one-agency-solution-cftc-commissioner-says/) on 28 November that crypto regulation is not a "one-agency solution". She admitted that the CFTC would need to work with the SEC in regulating the emerging sector. While she did not give a clear view about how the two agencies could regulate the industry, she assured stakeholders that the agencies would need to liaison with global regulators before regulations could be implemented.

Despite the delays in crypto regulation due to unclear CFTC crypto and SEC cryptocurrency rules, Chief Executive Officer (CEO) of Stifel Ron Kruszewski has called on the SEC to extend the customer protection rule to the crypto sector.

The Customer Protection Rule (Rule 15c3-3) was adopted in 1972 by the SEC in response to a congressional directive to create rules around the acceptance, custody, and use of customer securities. The rule requires broker-dealers to protect the securities that customers leave in their custody. It also ensures that, at any time, brokerage clients can withdraw assets, and a brokerage has to work to uphold it.

With such a rule in place, customers of bankrupt exchanges like FTX, and lending firms such as Voyager and Celsius, would have been protected from huge losses suffered from the halting of deposits and withdrawals.

## Is crypto regulated by the Europe Union?

In Europe, Germany leads the rest of the countries as the world's most friendly crypto nation. 

Unfortunately, the Financial Conduct Authority's (FCA) stiff stance on the highly-volatile industry has made the United Kingdom (UK) less of a crypto-friendly country.
 
In March 2022, the FCA warned residents of [illegal crypto ATMs](https://www.fca.org.uk/news/news-stories/warning-illegal-crypto-atms-operating-uk) operating in the country. In trying to limit UK residents’ exposure to virtual currencies, the agency warned ATM owners to shut their operations or face strong action by law enforcement. The [FCA](https://www.fca.org.uk/news/press-releases/fca-clamps-down-marketing-high-risk-investments-consumers) followed this by clamping down on the marketing of high-risk investments to consumers in August 2022.

While a cryptocurrency exchange such as Binance has had a hard time dealing with the FCA, Chanpeng Zhao’s innovation has received the regulatory nod in [France](https://techcrunch.com/2022/05/04/binance-france-regulatory-approval-europe/), [Italy](https://www.binance.com/en/blog/ecosystem/binance-obtains-regulatory-approval-in-italy-421499824684903920), [Cyprus](https://coingape.com/just-in-binance-expands-european-stronghold-with-new-license/#:~:text=Binance%20Gets%20License%20in%20Cyprus&text=The%20new%20license%20allows%20the,(AML%2FCTF)%20rules.), and [Kazakhstan](https://www.binance.com/en/news/flash/7226912). This shows that CEXs with the right whitepapers, assets, and Proof of Reserves (PoR) can weather the storm and be accepted by other European countries with different due diligent processes.

With that said, the [Markets in Crypto-Assets (MiCA)](https://www.europarl.europa.eu/thinktank/en/document/EPRS_BRI(2022)739221), first proposed by the European Commission (EU) in August 2020 and scheduled to take full effect in 2024, will establish agreed rules for all crypto assets at the EU level. This will bring some legal certainty for crypto assets not provided by existing legislation within the EU.

## Is crypto regulated in the Asian Pacific region?

In Asia, China has banned cryptocurrency use in all of its forms and has instead created and popularized the use of the country's national digital currency called the digital Yuan (e-CNY).

In trying to limit the use of cryptocurrency as a transactional currency and investment asset, authorities in [India](https://www.internationaltaxreview.com/article/2aubz4iwirgo9jk0avwg0/this-week-in-tax-indias-crypto-tax-may-kill-the-industry#:~:text=The%20Indian%20government%20has%20imposed,into%20effect%20from%20July%202022.) have imposed a 30% tax on capital gains accrued from crypto transactions in July 2022. 

Unlike China, crypto is legal in Japan. One of the best ways Japan’s [Financial Services Agency](https://complyadvantage.com/insights/japan-to-introduce-travel-rule-for-crypto-to-track-illegal-transfers/) (FSA) regulates crypto is by introducing a travel rule for crypto to track illegal transfers. The Travel Rule, scheduled to take effect in May 2023, will help reduce money laundering using cryptocurrencies.

Aside from the FSA, the [MAS (Monetary Authority of Singapore)](https://coingeek.com/singapore-rejects-over-100-licensing-applications-from-digital-currency-firms/) is one of Asia's top players and has a rigorous process regarding issuing virtual asset service provider (VASP) licenses. Despite receiving more than 170 applications for licenses, MAS has granted one to less than 10% of applicants, with many crypto companies still waiting for a positive outcome.

Aside from China, India, Japan, and Singapore, it is not uncommon to come across the question, 'is crypto regulated?' in [Australia](https://www.globallegalinsights.com/practice-areas/blockchain-laws-and-regulations/australia#:~:text=Australian%20law%20does%20not%20equate,perceived%20use%20for%20wholesale%20CBDCs.). As of January 2022, there is no legislation to tackle cryptocurrency as a discrete area of law in Australia. That said, cryptocurrencies can be captured within the existing rules of Australia. 

Cryptocurrency is not the only area in the crypto stratosphere without legislation in the country; blockchain and other distributed ledger technology (DLT) do not have a regulatory framework in Australia.

Despite their impact on centralized finance, Australia does not regard cryptocurrency as money. This is in direct contrast to the notion held by some countries that digital currencies can be equated with fiat currencies. While China has taken the lead in the creation of central bank digital currencies (CBDCs), Australia does not have plans to issue a retail CBDC in the near future.  

## Is crypto regulated in Africa?

Crypto regulation in Africa is largely non-existent. Despite the majority of Africans using crypto as a hedge against inflation, most central banks and local regulatory bodies do not have cryptocurrency laws.

The only African country that has given the green light for the use of crypto so far is the Central African Republic (CAR). 

The Central African country followed El Salvador to become the second country across the globe to legalize BTC as a legal tender. Much of this has been done to aid international trade due to African countries' consistently depreciating local currencies. 

African countries have not gone unchecked concerning cryptocurrency regulations. [The International Monetary Fund (IMF)](https://www.imf.org/en/Blogs/Articles/2022/11/22/africas-growing-crypto-market-needs-better-regulations) announced in November 2022 that the growing crypto market within the region needs better regulation. 

According to the IMF, the collapse of FTX and the tanking of the market should prompt central banks in African countries to set up cryptocurrency laws so that consumers can be protected from high volatility. The financial body said that the widespread acceptance and use of crypto could create macroeconomic instability within the region.

## Crypto regulation needed more than ever

While many expect the crypto finance industry to remain highly decentralized so that citizens can control all aspects of their financial lives, unending cases of fraud and scams have shed new light on regulations. Some industry experts have shared their views about crypto regulation. 

"The collapse of the FTX Derivatives Exchange has made the perfect case for regulators. Now they can claim that the emerging crypto ecosystem, despite its revolutionary propositions, needs urgent and comprehensive regulation. In reality, regulators worldwide have often maintained this stance, and crypto proponents are now forced to support the notion en mass.

“FTX deceived everyone, and despite the facade of good health that the company put up, many shady and unethical activities were going on in the background. 

Reporting and accountability standards amongst C-Suite executives are among the key regulatory frameworks that will need to be designed for crypto firms. However, it's more important than ever for the crypto community to point out that, even if FTX dealt with crypto, they were not crypto. They never were, nor is any one centralized company that offers it to their customers. Cryptocurrency exchanges are, if anything, more akin to banks than to cryptocurrencies or even Decentralized Finance.

“If you were to ask me, ‘should the FTX collapse increase centralized institutions' regulation?’ then the answer would be an unequivocal yes. These institutions need regulation, not the sovereign tools and technologies enabling users to eventually surpass them altogether,” Brian Pasfield, CTO of Fringe Finance, told [Moni Talks](/news).
Slava Demchuk, Co-founder of AMLBot, Founder of the AMLSafe app, and CEO of PureFi, also shed light on the current state of crypto regulation.

“The collapse of the FTX exchange will increase the necessity for cryptocurrency regulation. We strongly believe that this situation has become similar to the Subprime mortgage crisis in 2008. It would be the same tipping point for the crypto industry. Such a market condition will inevitably lead to stricter regulation for CEXs and VASPs in general.

“It will include tighter control over exchanges' liquidity, stronger executive responsibility, etc. Conventional crypto-enthusiasts would not suffer from more severe regulation because they are already operating under specifically defined market rules. Moreover, we always used to say, crypto regulation follows the classical financial market, so the collapse of the exchange is just a reason for it.”

## Conclusion

Despite the numerous bankruptcies with the collapse of FTX as the headline of issues miring this emerging sector, blockchain technology and cryptocurrency is the new way of finance. Most traditional financial companies could adopt the blockchain technology infrastructure to scale transactions and rid themselves of the fragmented nature of the old systems.

Although crypto is not regulated globally, crypto regulation will see a significant spike in the number of cryptocurrency exchanges. This will result positively in the trading volume of centralized exchanges.

Many will complain about hidden risks due to the unpredictability of the market, but major developments in the industry prove otherwise. [CoinMarketCap](https://cointelegraph.com/news/coinmarketcap-launches-proof-of-reserve-tracker-for-crypto-exchanges) launched a new feature, called Proof-of-Reserve tracker, for crypto exchanges in November. PoR provides transparency of an exchange's cryptocurrency reserves via a verifiable auditing practice. With the new feature, users can access the total assets held by an exchange, its balance, and its public wallet address ownership.

Exchanges such as Bybit, Huobi, Crypto.com, OKX, Bitfinex, and Kucoin have released their PoRs to show their customers that their coins are in safe hands. 

Crypto regulation is needed. The right time may have come for the SEC, CFTC, European Union, MAS, and the African Union to pull the plug on this highly volatile industry.


yellow image of cryptocurrency statistics and clipboard with regulations on it

Is Crypto Regulated Across the Globe? 

Millions are searching for the answer to the question, 'is crypto dead?'. This key phrase brings forth millions of results in articles covered by reputable financial news outlets across the globe because of the liquidity issues that have mired the crypto finance industry in November 2022.

The second-largest cryptocurrency exchange, [FTX](/news/article/ftx-bankrupt-who-to-blame), which recorded at least $1 billion in daily volume and trailed only Binance in exchange rankings, filed for Chapter 11 bankruptcy protection in the US on 11 November. Filing for Chapter 11 bankruptcy means that FTX has many creditors who have poured liquidity into the company, but it has taken this step so that it can propose a reorganization plan to keep the business alive and pay creditors over a given period. The Sam Bankman-Fried-led company has seen the freezing of its assets by the Bahamas government, while provisional liquidators chosen by the country's securities have agreed to continue the [bankruptcy proceedings](https://www.cnbc.com/2022/11/22/ftx-lawyer-says-in-first-bankruptcy-hearing-this-is-different-animal.html) in Delaware, US.

Following the collapse of FTX and its bankruptcy filing on 11 November, the total market capitalization of the entire crypto industry plunged by more than $100 billion in 10 days. There was a 13% decrease from 11 November's $840 billion to approximately $728 billion on 21 November. Due to interest in tokens such as Trust Wallet Token (TWT) - which has risen by more than 100% in the last two months due to increased demand for crypto wallets as a result of its self-custody purposes - the markets have made some gains.

It recouped more than $50 billion in the three days towards the close of 24 November, which saw capitalization climb up to $791 billion, data from [Trading View](https://www.tradingview.com/x/4jMz1P1X/) showed. 

![Picture2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Picture2_36e7999c8f.png)
 
Despite the billions of dollars of liquidity that poured into the market from 21 November to 24 November, the industry had not accounted for the remaining $50 billion that had left the market.

These metrics have become a major cause for concern for many stakeholders in the industry, prompting the question, 'is crypto dead?'. But the roots of FTX's demise were sown 12 months ago.

## Terra Luna's collapse

The seeds for the contemplation of the question 'is crypto dead?' were sown in 2021. This was a period where sophisticated (traders and investors who conduct fundamental and technical analysis before making decisions) and unsophisticated (those who do NOT) saw multiple percentage gains within a short time. 

Cryptocurrencies such as SAFEMOON and meme-inspired digital currencies such as Shiba Inu (SHIB) and Dogecoin (DOGE) brought more than 10,000% gains to their holders. Low-cap digital assets by market capitalization (coins with less than $2 billion in value) were not the only assets to see gains. Medium (digital assets with more than $2 billion but less than $10 billion in market cap) and large (coins and tokens with more than $10 billion in market value) such as Bitcoin (BTC), Ethereum (ETH),

Cardano (ADA), Ripple (XRP), Solana (SOL), Polkadot (DOT), Litecoin (LTC), and Dash (DASH) also brought triple-digital percentage gains to investors.

After the industry reached a peak of $3 trillion in November 2021, the fear of missing out (FOMO) set in. With reports of millions of dollars being made within a short time circulating on pro-crypto news forums and websites across the globe, millions more joined to milk the cow. Unfortunately, whatever goes up also comes down. During the pandemic's peak in March and April, the financial markets were brought to their knees, with BTC trading below $4,000. What followed was a bullish market that saw decentralized finance (DeFi) tokens such as Compound (COMP), Aave (AAVE),

Uniswap (UNI), and Yearn Finance (YFI) lead a turnaround towards the end of 2020. It was that turnaround that led to the record highs achieved by the crypto market in 2021.

At the beginning of 2022, there was the invasion of Ukraine by Russia, and this led to a rise in commodity prices. Industry-wide reports of inflation began circulating online in February and March. This was a time when the roots of bearishness which commenced after the highs in November started showing their branches.

What followed was the increase of interest rates by the Federal Reserve in the US. Millions of people jumped onto the crypto bandwagon, and DeFi especially, because of the above-average returns it promised. Since the US is the financial capital of the world, a rise in interest rates in the country led to a significant spike in interest rates in many developing countries whose citizens rely on crypto for passive income. Many of these residents and some crypto holders in developed economies began dumping the highly volatile asset class for safe and risk-free government bills and bonds that can add three, six, nine, and 12 months of passive income to their regular salaries.

In the middle of May, the shaky market saw the collapse of one of its new major assets in the form of [TerraUSD (UST)](/news/article/terra-luna-collapse), an algorithmic stablecoin that supported the Terra project. As one of the major projects in the industry with more than $30 billion in total value locked (TVL), the collapse of the token wiped more than $40 billion off the market within two weeks. 

As of 24 November, around $2.2 trillion had been wiped off the market since November 2021's highs. Holders of BTC, ETH, ADA, the old Terra (LUNA), and now FTX Token (FTT) have taken the biggest hit. The industry-wide bloodbath was captured by [TradingView](https://www.tradingview.com/x/bcnxPIIH/).

![Picture3.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Picture3_fe5af36b85.png)

## So, is Crypto Dead in 2022?

To outsiders of this broad industry, crypto is on its knees in 2022. Unfortunately for the same outsiders, crypto is more than some virtual assets on screen being traded by millions of people daily. Its underlying infrastructure, blockchain technology, has been tapped by many financial institutions to improve their systems.

A cryptocurrency like Ripple's XRP is used in the company's on-demand liquidity (ODL) feature during cross-border payments. This has helped millions of remittance companies that have partnered with Ripple meet their customers' demands.

One of the emerging sectors of the crypto industry is non-fungible tokens (NFTs). As of 24 November, NFT global market sales had surpassed $40 billion with projects such as [Axie Infinity](/news/article/axie-infinity-coin), Bored Ape Yacht Club (BAYC), CryptoPunks, and NBA Top Shots among highest selling collections. Blockchains such as Ethereum, Avalanche, Binance, and Solana continue to play an integral part in NFT creation and sales. 

Aside from that, sports clubs have also tapped into the industry to improve fan engagement. Global Fan Tokens have surpassed more than $100 billion, with football clubs such as Paris Saint Germain, Lazio, AC Milan, AS Roma, and FC Barcelona among the top teams whose tokens lead the ranks of the most purchased.

Is crypto dead? In a nutshell, no. The market is going through a phase where shady projects are being thrown out, while others are being restructured to protect investors from losing billions of dollars of their hard-earned money.



Is Crypto Dead After FTX Collapse?

[Avax Wallet](https://wallet.avax.network/) is a vital part of the [Avalanche](/news/article/avalanche-bridging) blockchain. It is a simple, secure, and non-custodial wallet for storing Avalanche assets, the native asset of the Avalanche blockchain, launched in 2020, which is denoted by the ticker name AVAX.

As a non-custodial wallet, users of the application are responsible for holding onto their passcodes or private keys. Users can access the platform by creating a new account. Non-custodial wallets come with the automatic generation of between 12 and 24 words arranged in a specific order.

Avax Wallet provides users with 24 words and advises for them to be used sequentially to recover accounts. Interested parties in crypto wallets should note that once they lose access to these 24 words, they will be restricted from accessing their coins, no matter the worth of cryptocurrency holdings.

## The best Avax wallet options

Despite millions of people using it to access the Avalanche blockchain, Avax Wallet is not the sole crypto wallet out there that can safely and securely hold coins. Some of the best wallets for holding AVAX include, but are not limited to, Coinbase and Trust. 

Launched in 2017, [Trust Wallet](https://trustwallet.com/) is the official mobile wallet of Binance. It was heavily promoted in November 2022 by Binance founder Chanpeng Zhao following the FTX exchange collapse. That shock crash led to the halting of deposits and withdrawals across several exchanges due to safety issues. AVAX can be stored on this platform and liquidated on Binance within a short period. 

Aside from this, users of the application can exchange their crypto without leaving the platform. The app can also track the price of coins within the application while keeping the coins safe from hackers and scammers. Trust Wallet comes with an automatic generation of 12 words which are private keys and passcodes used to access crypto holdings. 

[Coinbase Wallet](https://www.coinbase.com/wallet) arrived as a mobile application in 2017. Created by Coinbase, the largest cryptocurrency exchange by trading volume in the US, this mobile application automatically generates 12 unique words for its users. With this wallet, users can store AVAX and other cryptocurrencies as well as non-fungible tokens (NFTs). It also gives users direct access to Coinbase, a platform that allows them to access many products, such as staking and learn-to-earn (L2E).

Other wallets that support the storing of Avalanche’s native asset include Ledger Nano X, Ellipal Titan, Exodus, MetaMask, and MathWallet. 

The crypto wallet market has been forecasted to reach around [$686 million](https://www.prnewswire.com/news-releases/crypto-wallet-market-to-grow-by-usd-686-05-mn-driven-by-peoples-inclination-toward-digital-currency---technavio-301674672.html) by 2026. With the popularity of the Avalanche blockchain in the crypto and NFT sector, the project could make significant contributions towards achieving the estimated valuation.
 
   
 

 
 



What is Avax Wallet?

Tony Fadell, an executive at California's center for global innovation and high technology, Silicon Valley, disclosed on Tuesday the launch of a hardware crypto wallet to store cryptocurrency offline.

A hardware wallet securely stores a user's private keys or passcodes in cold storage. This means that the wallet is not connected to the internet. Hot wallets, on the other hand, are always connected to the internet and allow their users to send, store and receive coins and tokens.  

Fadell’s hardware wallet was created in partnership with Ledger, a France-based technology firm that develops secure infrastructure solutions for blockchain applications and cryptocurrencies used by individuals and companies. 

## Why is Tony Fadell launching a hardware wallet? 

Tony Fadell decided to launch a hardware wallet due to the increasing demand for self-custody (non-custodial) wallets from millions of cryptocurrency traders and investors. While custodial wallets, such as holding an account with [Binance](/news/article/binance-staking) or Coinbase, see representatives of such exchanges hold the private keys to your crypto holdings, non-custodial wallets ensure you have access to your private keys or passcodes. 
Demand for hardware wallets is increasing because of the [collapse of FTX](/news/article/ftx-collapse-blockfi-suspend-withdrawals), which led to an industry-wide bloodbath that saw the halting of deposits and withdrawals across several exchanges.

Fadell's hardware wallet means people can hold their digital assets outside the confines of exchange representatives and away from cyber criminals.
Fadell chose Ledger because it is a crypto hardware wallet maker serving clients in more than 200 countries and has sold more than five million wallets across the globe.
While previous products by Ledger, like the Nano S and Nano X, were modelled after USB sticks, the new design, Ledger Stax, is shaped like a credit card. It features an electronic-ink display and a curved spine.
The Ledger Stax will be on sale from early 2023 and will sell for $279. 

Fadell, now in his 50s, spent close to 10 years under Steve Jobs during his time at Apple Inc. It was during that period that he helped create iPhone. 
The crypto wallet market is forecast to grow to [$686.05 million](https://www.prnewswire.com/news-releases/crypto-wallet-market-to-grow-by-usd-686-05-mn-driven-by-peoples-inclination-toward-digital-currency---technavio-301674672.html) by 2026, according to a November 2022 report by Technavio, a global advisory and technology research company.

The report mentioned Ledger as one of the companies that will help the crypto wallet market reach the projected valuation. Other companies that will contribute to the growth of the crypto wallet market include, but are not limited to, Binance Services Holdings Limited, BitPay Inc., Exodus Movement Inc., Gemini Trust Co. LLC, Trezor Company, and ShapeShift AG.


image of tony fadell holding a cryptocurrency hardware wallet. The image has a blue background

iPod creator Tony Fadell launches crypto wallet

Blockonomics

Blockonomics has gradually become synonymous with the use of [cryptocurrencies](/news/article/impact-of-cryptocurrency-on-society) in electronic commerce (e-commerce) stores. Millions of people in today's world are open to the use of cryptocurrencies due to the possibilities of their underlying infrastructure in the form of blockchain technology. Unfortunately, many mainstream companies have yet to welcome the potential of cryptocurrencies, continuing to see cracks in the emerging asset class. 

To those still skeptical about e-commerce companies that support cryptocurrencies, Blockonomics has entered the crypto finance industry. It has the essential features to make decentralized finance transactions relatively easier for businesses and their customers.

## Blockonomics explained

As a Bitcoin payment service, [Blockonomics](https://www.blockonomics.co/merchants#/) enables its users to use its tools to accept and track Bitcoin payments. The service was launched in December 2014 when its Bitcoin wallet watcher was made available to the Bitcoin Talk Community.

Due to the project's uniqueness, around 5,000 people became registered users of the platform in January 2017. To bring mileage to the project, Blockonomics co-sponsored WordCamp Prague 2020 and saw more than 4,000 active WordPress installations. After overcoming the bears brought forth by the pandemic, which led the financial markets to their knees, the organization announced PrestaShop, an open-source e-commerce platform, as its official partner in April 2021. In July 2022, when the crypto market was healing from the bloodbath created by the collapse of the Terra ecosystem, Blockonomics became the most rated and used Bitcoin WHMCS plugin.  

The company is attuned to the current developments in the job environment and has a fully remote team distributed across several locations in Asia, Europe, and North America. 

As a payment gateway, Blockonomics has the necessary plugins that could be employed by online merchants that want to activate Bitcoin payments on their websites. Online merchants that settle on Blockonomics will see payments go directly to their wallets.

Due to the company's strong belief in decentralization, it has freed its clients from the essential element in centralized finance called Know Your Customer (KYC). The firm does not demand any documents from its customers, since the essence of blockchain technology, cryptocurrency, and Web3 is to decentralize all aspects of our lives. With no document reviews, online merchants set up accounts in less than five minutes using the company's technology.

Merchants can accept Bitcoin by connecting their accounts to popular e-commerce services such as Easy Digital Downloads, Prestashop, Opencart, Squarespace, Shopify, WordPress, WIX, and WHMCS. 

According to the official website of Blockonomics, payment links can be shared through email, social networks, and instant messaging to receive payment in Bitcoin. In addition, payment buttons can also be embedded on custom websites. 

## Does Blockonomics accept other cryptocurrencies?

Aside from the largest cryptocurrency exchange by trading volume in the form of BTC, the firm allows merchants to accept Bitcoin Cash (BCH). BCH is the native asset of Bitcoin Cash, a blockchain forked out of the original Bitcoin blockchain. BCH is primarily seen as the digital asset that performs the transactional attributes of [Bitcoin](/news/article/bitcoin-prime-review), while BTC is seen by many as a store of value. 

BCH remains a top 30 digital asset by market value despite shedding more than 90% of its all-time high (ATH) of [$4,355.62](https://coinmarketcap.com/currencies/bitcoin-cash/) in December 2017. Many people may ask why BCH was chosen ahead of others, such as Ethereum, and it's because BCH processes more transactions than BTC and ETH. ETH will be processing more transactions when its Proof-of-Stake (PoS) transition reaches full functionality. Also, BCH has a relatively lower processing (transaction) fee.

To contribute to the mission of Satoshi Nakamoto in reducing the reliance on centralized finance, Blockonomics does not charge fees for the first 20 payments received by merchants. After the 20th payment clears, the Bitcoin payment gateway charges a 1% fee for each transaction.

## Are there alternatives to Blockonomics? 

Like every product in the market today, this service has many competitors. Among them, Coinbase Commerce by Coinbase Global Inc., which runs the largest cryptocurrency exchange by trading volume in the US, is one of the biggest competitors.

This is because Coinbase Commerce is backed by a crypto exchange that houses many cryptocurrencies, giving customers options in crypto assets from which to choose. Aside from Coinbase, other alternatives include, but are not limited to, UberPay Multicoin Wallet, CoinGate, Coinomi, Mycelium Gear, Cryptopay, GoUril.io, GoCoin, OpenNode, Paytomat wallet, Plisio, Stampery, Flyp.me, Bitcompare, B2BinPay, CoinRemitter, PrivacyGate, WAGSI, Binocs, Payid19, Sendfy, and Confirmo. 

## Conclusion

Although Blockonomics may not be the best Bitcoin payment gateway in the current crypto environment, where more projects are added to the industry daily, it is one of the top gateways.

Online merchants do not have to deal with any middlemen, and there are no rules, regulations, or compliance requirements. Aside from that, even novice merchants can set up an account within minutes. The service also supports most wallets that can facilitate access to the Bitcoin network and store [BTC](/coins/btc), such as Ledger, Trezor, and Exodus.

Blockonomics operates within areas where malicious programs continue to prey on vulnerable applications. As a result, the company has the necessary security encryptions to safeguard the safety of transactions.


Blockonomics Explained

Top performing crypto tokens between 21 November and 28 November included Huobi Token (HT), Celo (CELO), Curve DAO (CRV), Dogecoin (DOGE), and ApeCoin (APE).

Numerous events happened during the week. Moni Talks covered topics such as United Kingdom-based [Starling Bank ](/news/article/starling-bank-bans-crypto)cutting its customers' accounts off from centralised cryptocurrency exchanges due to the volatility of the market and crypto wallet [MetaMask](/news/article/metamask-news-collect-ips) making plans to collect user internet protocol (IP) addresses.

In addition, Magic Eden, one of the most patronised non-fungible token (NFT) marketplaces, announced that it had expanded support for Polygon-based NFTs. Polygon is one of the largest NFT blockchains by all-time sales volume, with approximately [$409 million](https://cryptoslam.io/), as of 28 November.

So, let’s take a look at last week’s top performing crypto. 

## Analysis of top performing crypto last week

•	[Huobi Token (HT) ](https://coinmarketcap.com/currencies/huobi-token/historical-data/)increased by more than 60%. HT is the novel token of the Huobi crypto exchange. Much of the token's value spike occurred due to the rebranding of the pioneer cryptocurrency exchange Huobi Global into just Huobi during the week. As part of the rebranding process, Huobi, as a major crypto trading platform, is projected to become one of the top three exchanges across the sector. 

The rebranding led to an increment in trading volume from the smallest value of $14.77 million to the highest value of $27.46 million within the week. The token opened the week strongly at $4.32 on 21 November and reached a weekly low of $4.24 on the same day. HT spiked in price to a weekly high of $7.32 and was trading for $7.12 in the late hours of 27 November. There was a 64% increase in HT price during the last full week of November.

![coin market cap](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Picture_1_79b313f394.png)
 
•	Celo [(CELO) ](https://coinmarketcap.com/currencies/celo/)was up by more than 50%. CELO is the Celo ecosystem native asset, which aims to increase cryptocurrency adoption among smartphone users. During the week, it was reported by major news outlets that Celo has [partnered ](https://www.coindesk.com/tech/2022/11/21/mobile-focused-blockchain-celo-partners-with-ethereum-software-firm-consensys/)with ConsenSys, an Ethereum software company that played an integral role in the Merge (the transitioning of Ethereum from a Proof-of-Work to a Proof-of-Stake network). 

Overall, this partnership will help Celo developers to tap into the technological solution of ConsenSys, which will improve its scalability. Within the week, CELO's trading volume moved from the lowest daily value of $7 million to the highest value of $210 million. On 21 November, CELO opened with a trading price of $0.4329, climbed to a weekly high of $0.714 on 26 November, and saw a decline to a weekly low of $0.4178. It was trading for $0.6737 during the late hours of 27 November CELO gained 55% within the period.
 
![coin market cap](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Picture_2_f0823dd454.png)

•	Curve DAO [(CRV)](https://coinmarketcap.com/currencies/curve-dao-token/) spiked by more than 30%. CRV, like other digital assets housed in the ecosystems of the decentralized application (Dapp), is the novel token for Curve, a stablecoin-based decentralised exchange that relies on an automated market maker (AMM) to oversee liquidity. Curve generated [$3.75 billion](https://dune.com/hagaetc/dex-metrics) as trading volume throughout October. Due to the ongoing FTX bankruptcy case, which has led to the halting of digital asset withdrawals on some platforms, there has been a marked increase in stablecoin use. Since Curve is mainly tailored to stablecoin trading, many investors turned to CRV during the week. CRV's daily trading volume ascended from $58 million to $970 million.

CRV opened on 21 November with a relatively lower trading price of $0.5119. The DeFi token reached a weekly low of $0.4096 on 22 November and increased to a weekly high of $0.7538 on 26 November. In the late hours of 27 November, CRV was exchanging hands for $0.7044 on many crypto trading platforms. CRV spiked by 37% within the period.
 
![coin market cap](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Picture_3_e64bab2b45.png)

•	Dogecoin [(DOGE)](https://coinmarketcap.com/currencies/dogecoin/) brought more than 30% gains to holders. DOGE is the native asset of the meme-inspired project by Jackson Palmer and Billy Markus, creators who decided to poke fun at the idea of Bitcoin (BTC) dethroning the centralised finance system. DOGE has been soaring based on a rumour from David Gokhstein, who [commented via his Twitter account](https://twitter.com/davidgokhshtein/status/1596010692070764544?s=20&t=IyhWVKTyIxmqIxX_Xir8OQ) that there could be developments to the Dogecoin project by Ethereum founder Vitalik Buterin and new Twitter boss and DOGE promoter Elon Musk. 

The demand for DOGE skyrocketed from a minimum daily volume of $360 million to $1.84 billion within seven days. DOGE opened at $0.07718 on 21 November and reached a low of $0.0724 on the same day. The largest meme-inspired digital asset by market capitalization soared to a weekly high of $0.1064 on 27 November and traded for $0.1052 on the back of Asia, as an early mover of the cryptocurrency industry. As of 11:50 UTC on 27 November, DOGE had soared by 36%.
 
![coin market cap](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Picture_4_585d8697c1.png)

•	ApeCoin [(APE)](https://coinmarketcap.com/currencies/apecoin-ape/) Rose More than 20%. APE is the novel token of the ApeCoin ecosystem. On 23 November, it was reported that ApeCoin decentralized autonomous organization (DAO) had l[aunched a community-driven non-fungible token (NFT) marketplace.](https://www.coindesk.com/web3/2022/11/23/apecoin-dao-launches-community-driven-nft-marketplace/#:~:text=ApeCoin%20DAO%2C%20a%20community%2Dled,APE%20ecosystem%2C%20launched%20in%20March.) In the crypto finance industry, exchange listing, the launch of new products by a project, the provision of staking services, and the adoption of a coin or token by a mainstream company are the primary drivers of a cryptocurrency's price. 

Leaning on the successes of Bored Ape Yacht Club and Otherdeeds among Yuga Labs' (creators of the projects) products, APE opened at $3.03 on 21 November, reached a low of $2.86 during the week on 22 November, and reached a high of $3.94 on 27 November. As of 11:50 UTC on 27 November, APE had a trading price of $3.83. Like all the aforementioned top-performing crypto tokens, APE also saw a significant rise in daily trading volume from $79 million to $215 million.
 
![coin market cap](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Picture_5_37da79bf9d.png)

Other top performing crypto included coins that saw multiple percentage gains during the week, such as Litecoin (LTC), Chainlink (LIN), Dash (DASH), Aptos (APT), Convex Finance (CVX), Binance Coin (BNB), Solana (SOL), Casper (CSPR), Aave (AAVE), Ethereum Classic (ETC), and Theta Network (THETA).






Top performing crypto of the last week

[Cointelegraph](https://cointelegraph.com/) was founded in 2013. As a leading independent digital media resource, the portal covers a wide range of news on emerging fintech trends, crypto assets, and blockchain technology.

A group of writers and editors under the management team ensures stakeholders of centralised and decentralised finance are fed with the most accurate, up-to-date news about the rapidly evolving nature of the financial world.

In a saturated market where every information outlet wants to be the first to break the news, the editorial content found on the platform is unbiased.

What’s more, Cointelegraph readers can find comprehensive crypto price charts, in-depth analytics, regular reports, and opinion pieces on the current revolution digital currencies have brought to the global population.

The crypto news hub shares the belief of several market commentators who think the power of blockchain technology and cryptocurrencies will become a part of our daily lives in the not-too-distant future.

This is why it has gathered resources to raise awareness and properly educate readers about the pros of being involved in the transition from Web2 to Web3 and the metaverse as a whole.

News of an investor suing Elon Musk for billions of dollars over [Dogecoin](/coins/doge) losses was featured on the portal. Though the platform is free to navigate by people from all walks of life, so long as there is an internet connection, it offers a feature called Cointelegraph Markets Pro.

## Cointelegraph Markets Pro 

This is reserved for subscribers who want in-depth information about the market. Cointelegraph Pro is an easy-to-use and straightforward dashboard powered by the same data and technology employed by leading institutional investors in the crypto industry.

Found on the Cointelegraph app, NewsQuakes on the data intelligence platform uses artificial intelligence (AI) to comb through thousands of essential sources. Once potential market-moving events are detected, subscribers are alerted through smartphone notifications.

Announcements from NewsQuakes are tapped from the official handles of crypto project Twitter accounts, credible posts, and exchange websites.

Due to the difficulty in monitoring all projects simultaneously, this tool becomes essential in providing traders with time-sensitive information to make timely trading decisions.

Potential subscribers should know they would be fed news about primary drivers of the price of digital assets, such as partnerships, staking, and exchange listings.

Despite competition from others, millions of people source information from this news service to educate themselves about the latest developments in the decentralised finance sector.


Cointelegraph Explained

CoinGecko is extremely popular with institutions, individuals, and stakeholders in the decentralized finance (DeFi) space that source data from the crypto portal to make financial decisions.

Launched in 2014 by Chief Operations Officer Bobby Ong and Chief Executive Officer TM Lee, [CoinGecko](https://www.coingecko.com/) simplifies fundamental analysis of the digital asset market.

Aside from tracking price, trading volume, and market capitalization, CoinGecko tracks on-chain metrics, major events, open-source code development, and community growth.

As one of the earliest and biggest data aggregators in the stratosphere, CoinGecko takes a more holistic approach to tracking digital tokens and cryptocurrency platforms. As of July 3, 2022, the data aggregator tracks approximately 13,372 coins and around 514 exchanges.

The primary reason for creating the data fusion portal was to elevate the understanding of the fundamental factors driving the crypto markets for novice and experienced traders.

Speaking about market manipulation, Ong told Coin Rivet that many market participants believe market capitalization is a great way of measuring the worth of a cryptocurrency.

Unfortunately, he thinks it is wrong since the actual worth of several digital assets is highly manipulated due to a lack of transparency in accurately tracking cryptocurrencies.

## CoinGecko delivers a comprehensive analysis of the digital currency market

To separate itself from the herd, the data-aggregating portal not only measures exchanges by trading volume, coins, and tokens by market capitalization, it also tracks other factors that impact crypto projects. Some of these factors include, but are not limited to, community growth, open-source code development, and a project’s code progress.

For the community, CoinGecko tracks new posts, comments, Reddit subscribers, Facebook likes, Discord members, Telegram participants, and Twitter followers.

For statistics on development, the aggregator tracks Gitlab, Bitbucket, and Github. The data fusion portal has an in-depth look at pull requests, forks, stars, lines added/deleted, and the number of commits.

This helps blockchain enthusiasts and decentralized finance fans get a comprehensive view of the development activity in a particular crypto project's ecosystem.

More importantly, CoinGecko gets a 360-degree overview of cryptocurrencies it tracks by measuring developer stats and community.
The platform’s in-depth analysis helps potential and existing investors get more qualitative facts about alternate coins ([altcoins](/news/category/altcoin-news)), especially so that they can consider other factors aside from market capitalization in making trading decisions.

## CoinGecko's in-depth analysis goes beyond trading volume

Trading volume plays an instrumental role in fundamental and technical analysis. In fundamental analysis, when the volume is high, the price of a particular asset follows, and vice versa.

Trading volume also plays an essential role in the use of technical analysis to make forecasts about the possible price patterns of a coin in the short, medium, and long term.

In early 2019, Bitwise Asset Management submitted its Bitcoin Exchange Traded Fund (ETF) proposal to the US Securities and Exchange Commission (SEC).

The proposal included a study that pointed out that about 95% of the trading volume reported by several cryptocurrency exchanges was false.
Although data provided by well-regulated centralized exchanges (CEXs) were deemed trustworthy, trading volume data by some CEXs and decentralized exchanges (DEXs) was manipulated due to their unregulated nature.

After launching its quarterly cryptocurrency report in October 2017, the launch of a daily newsletter, free public application programming interface (API), and the official iOS and Android application (Coingecko app) followed in 2018.

To combat false exchange volume data, CoinGecko launched the Trust Score in May 2019.

## CoinGecko’s Trust Score ranks cryptocurrency exchanges 

With fake statistics, it is not good for individual whales and institutional investors to make trading decisions based on just volume.
With the Trust Score, there is a combination of normalized volume from exchanges using order book and web traffic analysis.

With the measurements of these metrics, there is a more accurate overview of the true liquidity of any cryptocurrency pair on an exchange.
CoinGecko has introduced additional metrics such as API quality evaluation, crowd-sourced reviews, social media data, cybersecurity analysis, hot and cold wallet analysis, and trade history analysis.

In an unregulated market that has largely become saturated with new projects, CoinGecko continues to play an invaluable role in giving stakeholders a reliable source of information. Dogecoin (DOGE) is among the coins it tracks.


What is CoinGecko Used For?

Sandbox price has been trading between $0.9708 and $3.83 in the last three months, per [CoinMarketCap](https://coinmarketcap.com/+). As one of the most demanded Metaverse coins, millions of people continue to search for the price of sand crypto and are saving money towards buying sandbox coins. Unfortunately, several novice traders and investors are alien to the factors that drive the sandbox token price. Moni Talks has seen the plight of small capital investors with less money to risk and delves into the primary drivers of the sandbox crypto price.

## What factors affect the Sandbox price? 

Some factors that impact the sandbox price and affect the sandbox market cap include partnerships, development activity, trading volume, and the Metaverse.

As one of the highly recognizable NFT marketplaces, the Sandbox is always forging new alliances that will impact its ecosystem positively. One such partnership is with the financial services company MasterCard. The payment processing company announced on Friday, 10 June 2022, that it has added the Sandbox and other NFT marketplaces to bring its payment network to Web3. 

It is widely known that the digital collectibles space is largely dominated by the use of crypto through wallets to facilitate transactions. This partnership will make it possible for MasterCard users who do not understand the complexities of blockchain technology, crypto wallets, and NFTs to purchase digital collectibles using their debit and credit cards. Such news bodes well for the crypto sand price and improves its ranking in terms of market capitalisation.

According to the Sanbase (a data-driven portal), the Sandbox trails Decentraland ([MANA](/coins/mana)), Flow, LUKSO (LYXe), and Aavegotchi (GHST) concerning development activity. Per Market Insider, more than 60% of UK and US-based video game developers are using blockchain technology due to the boom in decentralised finance (DeFi) and Gaming Finance (GameFi). More developers mean more variety of games with types of NFT assortments that can be traded for money. This normally results positively in the valuation of a cryptocurrency.

Investor interest is expressed in trading volume. When the volume of SAND goes up, the price rises. As of writing, Sandbox price was under $1, and volume was $350 million, which corresponded to a market capitalisation of $1.2 billion. When SAND reached an all-time high (ATH) of $8.44 on 25 November 2021, trading volume for the day was $11.08 billion, and this corresponded to a market value of $7.5 billion. This means that the Sandbox’s volume has decreased by 96% and the Sandbox market cap is down by 83%. 

Watch trading volume carefully because it plays a valuable role in fundamental and technical analysis. Volume is directly linked to the number of centralised and decentralised platforms that support SAND. As of June 2022, SAND can be found on approximately 18 exchanges.

As an integral part of the Metaverse, the Sandbox NFT sales volume impacts the Sandbox price. The Sandbox is 14th on the list of the biggest NFT collection rankings by sales volume, with more than $370 million in combined sales volume, per data retrieved from CryptoSlam.

The factors mentioned above drive the Sandbox price and will impact the coin's value in the short, medium, and long term.


Sandbox Price Prediction: What next for SAND?

Metaverse stock has become an integral part of the Metaverse concept, forecast to help Web3 replace Web2.0 companies in the not-too-distant future.

Web2 is largely centralised by big technology corporations and relies on cloud and mobile infrastructure and platforms developed by organisations using interactive content as a medium.
On the other hand, Web3.0 would rely on virtual economies, networks, and blockchain cloud. Control will be highly decentralised.

This is why the Metaverse concept could be an important part of the evolution of the internet. The Metaverse is an interactive digital universe facilitated by immersive technologies such as virtual and augmented reality.
This article offers an extensive insight into what the Metaverse entails and discusses the best Metaverse stocks to buy in 2022 and beyond.

## Best Metaverse Stocks to Buy in 2022 

Below are the three best Metaverse stocks to buy in 2022 and other honourable mentions.
The best Metaverse stock to buy in 2022 is Meta.

One of the leading Metaverse stocks with huge potential you should consider adding to your portfolio is Roblox. After reporting huge earnings in quarterly reports for 2021, Roblox is a top pure-play Metaverse stock ripe for your portfolio.

Lastly, growth investors will find Coinbase is a Metaverse stock that introduces them to the crypto trading space.
Other honorable mentions include Nvidia, Lucky Block Autodesk, Nike, Match Group, Unity Software, Microsoft, Walmart Inc., CrowdStrike Holdings, Adobe Inc., Immersion Corp., and Vuzix Corp.

## A Look at the Best Metaverse Stocks 

Although stocks are categorised as a non-volatile asset class, you should conduct independent research that comprises fundamental and technical analysis.
Without that, you risk buying a stock without understanding the issuing authority (companies) behind their valuation.

The Metaverse conjoins several industries and technologies such as spatial computing, digital infrastructure, blockchain technology, artificial intelligence, and virtual experiences, among others.
The best Metaverse stocks analysed below consider big technology companies that contribute to the development of this virtual world filled with enormous potential.

By reading this piece, you will find out the roles of the respective individual corporations and their impact on this emerging concept.

## Meta Platforms • One of the Leading Metaverse Stocks with Enormous Potential

Facebook is the head of all the Meta Platforms. In October 2021, Chief Executive Officer (CEO) Mark Zuckerberg introduced Meta: A social technology company to the world at a Connect 2021 event.

Meta's aims to bring to life the Metaverse (Web3), which helps connect people, grow businesses, and find communities using smartphone applications, augmented reality glasses, and virtual reality headsets.
In February 2022, speaking at a live-stream event called Inside the Lab, Zuckerberg pointed out that Meta was in the middle of a new class of generative artificial intelligence (AI) models which will allow people through speech to describe a virtual world and generate numerous aspects of that world.

In showcasing the power of one of the new AI models called Builder Bot, Zuckerberg appeared on an island as a legless 3D avatar.
He gave commands using his voice to create a beach. After that, he commanded the creation of trees, clouds, and picnic blankets for the beach. 

This means that Meta is expanding its Metaverse ecosystem in addition to its successful product already in the immersive technology market, Oculus (a virtual reality headset).
Overall, Meta aims to build a supercomputer that will cover all aspects of the Web3 evolution.
Despite competition from other platforms such as TikTok, Meta Platforms Inc. (NASDAQ: FB) opened on Monday, 3 January, 2022, with a trading price of $338.30. 

The stock reached a quarterly high of $343.09 and closed the first quarter of the year on 31 March at $222.26. As of writing, FB was trading in the region of $203.77.
This means that you can buy around 49 stocks of FB for $10,000. When the bulls return in the future, FB could be one of the metaverse stocks to brighten your investment portfolio.

## [Roblox](https://www.roblox.com/) • The Best Gaming Metaverse Stock

Roblox is not only a platform that brings people together through play; it is also a cash cow in the making for users who have great game titles and designs.
Roblox is an online game platform that allows novice and professional users (gamers and developers) to try their hands on game development.

Roblox was released in 2006 by David Baszucki and Erik Cassel (founders who created the platform in 2004).
As an integral part of the Metaverse, Roblox has soared substantially in popularity. As of May 2022, Roblox has more than 47 million daily active users.

Having hosted many virtual concerts and events, Roblox has a head start. The company is among the first movers who would reap the rewards of venturing into the Metaverse early.
Roblox got the ticker symbol RBLX on 10 March, 2021, on the New York Stock Exchange (NYSE). RBLX became a tradable stock on 11 March, 2021.

It opened the day with a trading price of $74.93 and closed the first quarter of the year at $64.57. Roblox Metaverse stock tested $100 for the first time on 2 June and reached an all-time high (ATH) of $103.87 on 4 June.
When the bulls returned in the last quarter of 2021, the Metaverse stock reached a new all-time high of $138.77 on 18 November. Since bears follow bulls, RBLX shed 25% of its ATH to close the year on 31 December at $103.16.

RBLX opened on 3 January, 2022, with a trading price of $101.91, reached a quarterly high of $103.79 on the same day, and closed the first quarter of 2022 at $46.24.
As of writing, RBLX was exchanging hands at $27.81. This means that a $10,000 investment could buy around 359 stocks of RBLX. The current demographic of Roblox users is below 16 years. However, with the Metaverse gaining strength in 2022, Roblox’s demographic could widen to include young adults and full-time adults. 
That could impact well on the stock price of RBLX.

## Coinbase • Best Metaverse Stock for Cryptocurrency Traders

Coinbase was founded in 2012. You should know that there are more than 100 cryptocurrencies on Coinbase.
Blockchain technology and decentralisation are an integral part of Web3 and the Metaverse.
Therefore, Coinbase's association with crypto assets easily places the exchange on the list of the top Metaverse stocks to buy in 2022.
Aside from buying and selling cryptocurrencies, Coinbase provides other services such as interest accounts through staking.

What's more, on 4 May, 2021, Coinbase [opened its NFT marketplace](/news/article/coinbase-nft-platform) that launched the entire project into the Metaverse.
Through this platform, more than 50 million users of Coinbase can interact with digital collectibles and invest in non-fungible tokens (NFTs).
In addition to this, Coinbase is still developing technologies that will facilitate the purchase of avatars for games in its Metaverse.

Coinbase Global, Inc. (COIN) became a stock trading asset on 15 April, 2021. COIN opened the day with a trading price of $348.90 and reached an all-time high (ATH) of $368.90 on 9 November.
On the last day of December 2021, COIN shed 27% of its opening price to close the year at $252.37.
The centralised and decentralised finance market was hit hard in 2022 by the bearish trends of the market after reaching record highs in 2021.

COIN opened on 1 January, 2022, with a trading price of $256.27, reached a quarterly high of $261.63 on the same day, and closed the first quarter of the year at $189.86.
As of writing, COIN was exchanging hands at $103.74. 
With $10,000, you can buy around 96 COIN stocks.

## Are Metaverse Stocks a Good Investment? 

The Metaverse has created new wealth for several stakeholders (companies, developers, gamers, and you as an investor).
Although there are hidden potentials in Metaverse stocks as an investment instrument, you need to conduct independent research before you can risk money on any of them.

Look at the pros and cons before investing in Meta Platform (FB), Roblox (RBLX), and Coinbase (COIN).
Metaverse stocks come with numerous risks. No one knows when the Metaverse will reach its peak. Therefore, Metaverse stocks remain largely speculative and can only thrive with the launch of NFTs or other features associated with the Metaverse. Aside from that, various economies across the globe are doing everything they can to regulate crypto, Metaverse, and web3 so that it does not become a haven for money laundering and terrorism financing.

On the other hand, the benefits that could be derived from investing in Metaverse stocks are endless. There is a whole array of companies to choose from.


Metaverse Stock: Best Buys 2022

Moon Litecoin is one of the best faucets that allows anyone with an internet connection and a crypto wallet to earn free Litoshis daily. As of writing, [Litecoin](/coins/ltc) had a trading price of around $94.42.
Crypto faucets are websites or applications that reward users with a small number of digital assets for completing easy tasks.

According to analyst [Eric Nkando](https://www.fxleaders.com/forecasts/crypto/litecoin-price-forecast/) at FX Leaders, the growing adoption of cryptocurrencies could see LTC trade for the best possible price of $1,000 by the close of 2025.

This is a great reason to seek more Litecoins so that you can earn more passive income from cryptocurrency.
Now that you know Litecoin price predictions in the medium term, let us review Moon Litecoin so that you can start collecting Litoshis.

## What is Moon Litecoin? 

Moon Litecoin is a website that allows you to earn free Litoshis as a reward for completing tasks such as surveys, viewing ads, and solving captchas.

Litoshis are fractions of Litecoin. Mathematically, 1 LTC equals 100 million Litoshis.
Litecoin was based on Satoshi Nakamoto's Bitcoin. As a result, LTC can be divided into eight decimal points. This is the primary reason why 1 Litoshi equals 0.00000001 LTC.

The Moon Litecoin faucet platform is part of the Moon Series which also features Moon Cashcoin, Moon Dashcoin, Moon Dogecoin, and Moon Bitcoin.  

## When Was Moon Litecoin Started? 

There are whispers in the crypto community that the Moon Series was launched around 2014. On the part of Moon Litecoin, many believe that LTC was added to the Moon Series in 2015.

## Is Moon Litecoin the Best Faucet? 

While other faucets allow you to earn Litoshis every 60 minutes at worst and every 30 minutes at best, Moon Litecoin rewards you with 1,000 Litoshis every 5 minutes.
Aside from Moon Litecoin, other ways to earn LTCs include Faucetpay, Allcoins.Pw, Cointiply, FreeLitecoin, Litecoin-Faucet, InstantLTC, Coinpayu, Autofaucet Dutchycorp, FreeFaucet, and Firefaucet.

## How Do I Use Moon Litecoin Faucet? 

To begin your journey of earning free LTCs every five minutes from Moon Litecoin, you need to have a smart device such as a mobile phone, tablet, pad, or laptop.

In addition to this, you need a crypto wallet to which the Litoshis will be sent. Moon Litecoin can be integrated with the CoinPot wallet. You can download CoinPot from Google Play Store.
What’s more, you will need to access the Moon Litecoin website. Without having access to this platform, you cannot earn free Litoshis.

## How Does Moon Litecoin Work? 

As part of the Moon Series, Moon is primarily a crypto faucet.
It liaises with third parties to run several promotional events. When you interact with the ads on their platform, you are rewarded with a small percentage of what Moon is paid in the form of Litecoin. After that, your Litoshis are deposited into your integrated CoinPot wallet.

## How Do I Earn Litecoin? 

Create a wallet address on CoinPot by inputting an active email address. CoinPot will send you an email for confirmation.
Visit Moon Litecoin using the same email address you employed for CoinPot.

After you sign up for an account, a captcha will appear which you have to solve.
After confirming you are human and not a robot, you will be asked to solve problems. A great example is selecting images of Chimneys or bicycles.

Once done, solved ads will be shown on the webpage.
Once the captchas have been resolved, scroll down to see if Litoshis appear in your CoinPot wallet.
After 5 minutes, you can go over the process again.
 
## Is Moon Litecoin Good for Beginners?

Moon Litecoin is the one best online faucet and one of the best methods to earn free LTCs.
Once you set up a wallet address through CoinPot, you can start earning within minutes as soon as you integrate your wallet on the Moon Litecoins website.


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