Top 5 Crypto News – The Trading Volume of Bitcoin & Ether Futures Reaches $32 Trillion

Top 5 Crypto News - The Trading Volume of Bitcoin & Ether Futures Reaches $32 Trillion

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In 2021, The Trading Volume For Bitcoin And Ether Futures Reaches $32 Trillion

According to The Block Research, the total trading volume of Bitcoin (BTC) and Ether (ETH) futures reached $32 trillion in 2021.

Based on statistics, as of December 27, this amount represents a massive 338% rise above 2020 trade volumes. Last year, the aggregate trading volume of Bitcoin and Ether futures was more than $7 trillion.

May saw tremendous trading volume in 2021 for both Bitcoin and Ether futures, with a total value of $4 trillion.

2021 was also a record year for cryptocurrency spot trading volumes. During the year, centralized crypto exchanges recorded over $14 trillion in trading volume, while decentralized exchanges witnessed over $1 trillion in trading activity.

Charles Hoskinson Discusses Cardano’s 2022 Plans

Cardano has increased in value by more than 8% in the previous 24 hours and by 25% in the last seven days. The price increase comes from an update on Charles Hoskinson’s and IOHK’s intentions for the Cardano network in 2022. 

Cardano (ADA) enthusiasts were ecstatic to get two updates from IOHK, the organization in charge of the cryptocurrency’s development. Charles Hoskinson, the founder of Cardano, spoke for 30 minutes in a new video on December 24 about some of his aspirations for the coming year.

 “My goal for the second half of 2022 is to figure out how to put all the pieces together to get an end-to-end microfinance transaction on Cardano,” Hoskinson stated in his video.

Hoskinson also stated that a codified open-source system akin to Linux will be created.  “A formal open-source project structure is going to be formed, kind of like Hyperledger to Linux,” the Cardano founder revealed. 

Hoskinson also said that there are “almost 15 companies working on Cardano right now across the world — The sun never sets for the project.” 

The Cardano executive highlighted:

We need to make that hundreds, and then eventually thousands. We need institutions like universities and nation-states to actively cooperate and collaborate and have a stake in the success of this project.

Ferrari Enters The Realm of NFTs, Inking A Contract With Velas

On Monday, Ferrari announced a partnership with Swiss technology firm Velas Network to produce non-fungible tokens (NFT) for its supporters. 

NFTs allow users to acquire unique digital artefacts using the blockchain network that underpins cryptocurrencies. NFTs can be used to own any art, including tweets, music, GIFs, and other digital assets. The opportunities for purchasing and selling digital assets are limitless.

Velas, a digital goods and services developer, will become a partner of Ferrari’s Formula 1 racing team beginning next season. The multi-year deal calls for unique digital material for Scuderia fans.

“In addition, Velas will be Title Sponsor of the Ferrari Esports Series, the online mono-brand series of the Prancing Horse, and of the Esports team that will compete in the F1 Esports Series, the official digital championship competed in by all teams participating in the FIA Formula 1 World Championship,” Ferrari stated in a statement. 

Terra’s UST Stablecoin’s Market Cap Increases to $10 Billion Thanks to DeFi Traders

The Terra blockchain’s rapidly expanding stablecoin UST; which had surpassed its rival DAI to become the largest decentralized stablecoin, has now reached another milestone: a market valuation of $10 billion.

On Sunday, the UST market cap surpassed $10 billion, according to the crypto pricing website CoinGecko. As recently as the beginning of 2021, the market capitalization was less than $200 million.

Earlier in December, UST surpassed rival MakerDao’s decentralized stablecoin DAI, which has a market valuation of roughly $9.4 billion. DAI has been operational since 2017.

The rapid expansion of UST comes as the Terra blockchain has emerged as a prominent player in the decentralized finance (DeFi) industry; where stablecoins play a vital role in staking, liquidity management, and yield generation.

According to the crypto statistics portal Messari, Terra’s LUNA token has been one of the top performers among all digital assets this year, increasing 15-fold in price to an estimated market valuation of $34 billion.

The Mexican Billionaire Advice Investors to Purchase Bitcoin

Ricardo Salinas Pliego, a Mexican millionaire; shared some crucial life and investment advice in a video broadcast on his Twitter account, which has almost 1 million followers. 

His message ranged from encouraging his followers to resist jealousy and always believe in themselves when pursuing their freedom and innovation. He also provided helpful advice on investing in fiat currency.

Focusing on fiat money in general, the successful businessman offers his followers some sound advice on investing in fiat currency. In a nutshell, he requested that they refrain from doing so. He did not limit his advice to a specific fiat currency; instead, he advised staying away from all fiat currencies.

“Steer clear of fiat money. Whether it’s the Dollar, the Euro, or the Yen –it’s all the same,” Salinas stated. “It’s fake money made of paper lies. Central banks are producing more than ever.”

Salinas then offers Bitcoin as a substitute for money. Instead of using conventional currency, the billionaire urged investors to invest in Bitcoin.

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