 | 1. Kraken CEO Reverses $100K BTC 2021 Forecast: Crypto Winter Now Possible As Bitcoin (BTC) continues to trade sideways around $48,000, Kraken CEO Jesse Powell is not counting out a potential crash on cryptocurrency markets in the short term. A crypto winter is now “possible,” Powell said in a Tuesday interview with Bloomberg Technology, noting that Bitcoin and the crypto ecosystem have historically evolved around cycles based “sort of around the Bitcoin halving.” 2. Intel VP: Metaverse Needs ‘1,000-Times Increase’ In Compute Power Writing in a blog last week, Koduri reasoned that we’d need to see “a 1,000-times increase in computational efficiency from today’s state of the art” to power “persistent and immersive computing, at scale and accessible by billions of humans in real time”. In addition, it’s said Intel is developing chips that specifically support Metaverse and plan to release a series of new graphics processors early next year. Metaverse-specific algorithms and Metaverse architecture, as well as open software development tools and libraries are supported. 3. A Minuscule .01% of Bitcoin Holders Control Nearly a Third of The Supply A new study by the National Bureau of Economic Research reveals that a minuscule group of investors control more of the supply of Bitcoin. Researchers found that 0.01% of the cryptocurrency’s holders control 27% of the supply. The study said 10,000 Bitcoin accounts hold 5 million out of the 19 million coins in circulation, or the equivalent of about $232 billion. An estimated 114 million accounts hold Bitcoin worldwide, according to crypto.com. 4. Paraguay’s Senate Passes Bitcoin Regulations Paraguay’s Senate passed legislation last week regulating bitcoin in hopes of the Latin American nation becoming the second country in the world to accept the cryptocurrency as legal tender. Approval of the legislation follows months of discussions, debates and the development of the bill that would see cryptocurrencies taxed and crypto mining regulated and potentially result in the legalisation of Bitcoin, the most widely used cryptocurrency. 5. Forbes: Stablecoins Will Be Mainstream As per the report from the President’s Working Group, stablecoins utilization increased by 500% between October 2020 to October 2021, and it does not seem likely that this pace of adoption will decrease. LuckyHash [link] [comments] |
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