NFT SUMMER

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NFT Summer Fest'22

Bloomberg Intelligence Predicts That BTC And ETH Will Be Worth $100k And $5k, Respectively, In 2022

According to Bloomberg Intelligence analyst Mike McGlone’s newest market research, BTC and ETH will reach $100k and $5k, respectively, this year.

According to Bloomberg’s analytics team, despite cryptocurrency markets plummeting to multi-month lows, prominent cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) are expected to reach new all-time highs in 2022.

“A key issue we see is the Federal Reserve, as it faces the greatest inflation in four decades, more inclined to raise interest rates if risk assets continue climbing,” McGlone stated.

McGlone also estimated that BTC, Ether, and US-pegged stablecoins would dominate in 2022. Still, some of the top 2021 victors, such as Binance Coin (BNB) and Solana (SOL), “may end the pattern of temporary visitors among the top five.”

A Large Venture Capital Firm Plans To Invest $900 Million In The Cryptocurrency Industry

According to the Financial Times, Katie Haun, the general partner at Andressen Horowitz, has set a target of generating at least $900 million for several cryptocurrency investment funds, which will spark a heated discussion for the new venture capital firm.

The $900 million will be split between two separate funds. The first fund, which will invest $300 million in Bitcoin start-ups, Another portion of the cash raised will be utilized to make investments in larger firms or digital assets that have already established a market presence.

According to Financial Times sources; the new funds aim for soaring goals and meet considerable demand from affluent individual investors and other funds right from the outset. Haun also intends to contact banking institutions beginning next week.

The proposed fundraising revamp would serve as a channel for future capital inflows for early-stage businesses on the market. Since the beginning of 2021; the number of crypto start-ups has progressively expanded and remained in the sights of venture capitalists.

Three Of The Largest Bitcoin Whales Collectively Own About 5,300 BTC

Colin Wu says, using BitinfoCharts, that three of the top 50 BTC whales have acquired 5,322 Bitcoins. The 33rd largest wallet increased its holdings by 3,000 BTC. The quantity of BTC in the 34th largest wallet has increased by 1,455 Bitcoins, while another wallet owner has purchased 867 BTC. That’s a total of 5,322 Bitcoins worth $225,204,067 at the current BTC/USD conversion rate.

However, while these three whales purchased more Bitcoin during the downturn; the owner(s) of the 32nd biggest wallet sold about the same amount of BTC: 4,250 coins.

Wu emphasized that none of these four addresses are associated with any cryptocurrency exchange.

Everything You Need To Know About Cryptocurrency Index: How Does it Work? What Does It Mean for Investors?

India has the Bombay Stock Exchange and the National Stock Exchange for stocks. Still, now we have our crypto index; which will track the performance of the 15 most-traded cryptocurrencies listed on crypto exchanges worldwide.

Index IC15 is designed to measure the performance of the top 15 most liquid cryptocurrencies. Furthermore, the index contains a governance council (IGC) composed of renowned subject experts, academics, and industry practitioners. 

Every quarter, these professionals will monitor, maintain, and manage the rebalancing of the top 15 cryptos. The index’s start date is April 1, 2018, and its base value is set at 10,000.

What Is The Index’s Goal?

This new tool aims to facilitate market development by providing all feasible assistance in evaluating opportunities for further growth. As a result, investors will better understand the bitcoin and crypto ecosystem.

In index IC15, the top 15 most commonly traded cryptocurrencies are Bitcoin, Ethereum, Litecoin, Binance Coin, Chainlink, XRP, Bitcoin Cash, Cardano, Solana, Terra, Avalanche, Polkadot, Uniswap, Dogecoin, and Shiba Inu.

According to Kevin O’Leary, NFTs Will Surpass Bitcoin Because Of Their Capacity To Record Property Ownership

According to “Shark Tank” star investor Kevin O’Leary, the market for non-fungible tokens, or NFTs, has the potential to outperform bitcoin since they may act as evidence of ownership for the property.

“You’re going to see a lot of movement in terms of doing authentication and insurance policies and real estate transfer taxes all online over the next few years, making NFTs a much bigger, more fluid market potentially than just Bitcoin alone,” he stated on CNBC’s “Capital Connection” show on Wednesday.

“We’ll see what happens, but I’m making that bet and I’m investing on both sides of that equation,” he stated.

The value of the NFT industry is expected to reach $41 billion by 2021; according to Chainalysis, a blockchain analytics company that updated a prior analysis on Thursday. In 2021, trading around NFTs expanded, with milestones including Christie’s $69 million sales of NFT artwork.

Meanwhile, Bitcoin’s worth climbed beyond $2 trillion in 2021 but has since dropped to roughly $821 billion on Thursday; following a significant selloff in recent sessions.

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