Crypto

Top Cryptocurrency News December 16: Important Stories About NFTs, Stablecoins, Cryptocurrency Regulations & More

A daily roundup of the hottest cryptocurrency articles like Bitcoin, Ethereum, and Tether to help you start your day.

  • Market Buzz

Cryptocurrency Prices Today, December 16: Market Turns Green As Earth, Bitcoin, Dogecoin Rise Global cryptocurrency market capitalization has grown 3.80% over the past 24 years hours to settle at $ 2.26 trillion. The market fell about 0.60% on the last day to stand at 41.00%. The total volume of cryptocurrency transactions in the past 24 hours was $ 115.42 billion, down from 98.85 percent. While DeFi ($ 14.13 billion) accounted for 12.24% of total cryptocurrency volume, stablecoins ($ 91.40 billion) accounted for 79.19% of the 24-hour market volume of the cryptocurrency market. cryptocurrencies. . at Rs 38 83 884 while Ethereum (Rs 3 20,000) is up 4.5%. Cardano (Rs 103.5) increased by 3.44 percent. Avalanche (Rs 8,356.4) rose 31.59%, Polkadot (Rs 2,148) rose 3.21% and Litecoin (Rs 12,162.92) rose 0.84% ​​over the past 24 time. Memecoin SHIB also rose around 3.12% while DOGE rose 0.03% to trade at Rs 14.44.

Bitcoin is currently trading at Rs 38.83.884 while LUNA also rose around 7.68% to trade at Rs 4,899.9. session which begins in late January or early February, multiple media reported. Without government approval this week, time is running out for the bill to be introduced in this parliamentary session, which ends on December 23. In particular, the next government meeting is scheduled for December 22. NBA Champion and Chicago Bulls legend Michael Jordan has revealed plans to launch a Solana-based fan engagement app platform. Specifically, the HEIR platform is designed to connect professional athletes with their most ardent supporters. It will contain a HEIR token issued on the Solana and showcase NFT assets as well as community building features that allow fans to join an athlete’s limited capacity “caucus” for exclusive access and benefits.

  • DeFi Buzz

Massachusetts Democratic Senator Elizabeth Warren returned to the limelight for her comments on the rapidly growing decentralized finance (DeFi) industry and the role of stablecoins in this niche. Warren described stablecoins as “the lifeblood of the DeFi ecosystem,” where they are used to trade different currencies, as well as to lend and borrow money outside of regulated banks. Stablecoins are cryptocurrencies that claim to be indexed 1: 1 to fiat currencies such as the US dollar, which means that unlike Bitcoin or many other cryptocurrencies in the market, their prices should remain stable.

Warren also said that stablecoins pose risks to consumers and the economy because they “support one of the shadiest parts of the crypto world, DeFi, where consumers are least protected from scams. Warren, DeFi “is where the regulation actually is. absent nd, no surprise, this is where crooks, crooks and crooks first mingle with part-time investors and cryptocurrency traders. “Our regulators must take the crackdown seriously before it is too late,” he said. At the same hearing, Senator Sherrod Brown, a member of Warren’s party, called stablecoins “magic money”, saying they are neither decentralized nor transparent. “If you put your money in stablecoins, there is no guarantee that you will get it back,” the Ohio senator warned.

  • Regulatory Central

India’s much-anticipated cryptocurrency regulation bill is unlikely to be presented to parliament until next year’s session begins in late January or early February, multiple media reported. Wednesday: The next cabinet meeting is December 22, so the cryptocurrency bill is highly unlikely to get government approval and then go to parliament. The bill is unlikely to be introduced in this session as the government is considering changes to the bill, CoinDesk has learned. This does not completely rule out the possibility of crypto regulation in the near future or even before the next section of Parliament. The government has the option of passing an ordinance instead of submitting the bill to parliament first if the need arises.

  • NFT Mania

Six-time NBA champion and Chicago Bulls legend Michael Jordan is the latest celebrity to see the potential in how crypto and Web3 technology can connect athletes and artists with fans. Today Jordan revealed his intention to launch a Solana-based fan engagement app platform. The platform, HEIR, is designed to connect professional athletes with their most ardent supporters. It will contain a HEIR token issued on the Solana blockchain and showcase NFT assets as well as community building capabilities that will allow fans to join an athlete’s limited capacity for exclusive access and benefits. Parent company HEIR Inc. was co-founded by Michael and his son, Jeffrey Jordan, and has raised $ 10 million in funds to launch “culturally-inspired consumer brands rooted in technology and entertainment.” according to a press release. Jeffrey Jordan will coordinate the company with former Nike brand manager Jeron Smith and marketing consultant Daniel George. The HEIR platform will be launched in 2022.

Thrive Capital led the $ 10 million round of funding, which also saw the participation of Solana Ventures, co-founder of Reddit and founder of Seven Seven Six Alexis Ohanian, current Bulls player Lonzo Ball and New York Knicks executive vice president William Wesley.HEIR is the latest example of a thriving social tokens and fan engagement movement growing in the crypto space.Platforms like Rally and Roll allow athletes, artists, artists and influencers to create their own crypto tokens, which fans can purchase to support them, access exclusive perks, and potentially benefit if their star grows further. Notable college athletes like Kayvon Thibodeaux and Jaylen Clark have launched their own designer tokens on Rally in recent months, for example. Meanwhile, NBA player Spencer Dinwiddie, who has already signed his league deal to sell it to fans, raised $ 7.5 million in July to launch his social token and engagement app called Calaxy. This isn’t even Michael Jordan’s first step into the crypto space. He took part in NBA producer Top Shot’s $ 305 million Dapper Labs fundraising round in March, and then took part in November’s $ 150 million Series C fundraiser for Mythical Games, a creator of cryptographic gaming infrastructure.

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