Discover the top news in crypto for the week!
This week, monthly NFT trading volumes beat record values, while VC funding in crypto startups surpassed all-time highs. Meanwhile, more countries are setting blockchain as a top priority for development, while new research emerges with a unique view of the Bitcoin mining debate. Find out the top 5 crypto news of this week.
Digital Nugget: M&A in crypto assets – the next trend?
This week’s Digital Nugget explores how mergers & acquisitions (M&As) could emerge in crypto as more companies become global powerhouses. M&As enable ‘faster business building, strategic synergies, achieving critical mass to compete, diversification, horizontal or vertical integrations,’ and crypto is not an exception. Discover the timeline of M&As in crypto since 2017 and why this trend is poised to continue due to strong communities, well-funded treasuries, new governance models like DAOs, and much more. Read more
Global VC funding for blockchain firms surged to record $25B in 2021: CB Insights
A new report by CB Insights reveals that the VC funding into crypto and blockchain startups rose by 713 percent in 2021 to reach $25.2 billion from $3.1 billion in 2020. The amount of funding was spread across over 1,000 blockchain startups deals, while crypto startup accounted for 4 percent of the global VC funding. NFT and DeFi firms are gaining importance in the funding landscape, while 79 percent of investments go to early-stage companies. Read more
Monthly NFT trading volume reaches an all-time high of $6 billion in January
January 2022 has registered the monthly record volume for NFT sales, reaching over $6.1 billion, representing a 129 percent growth compared to December 2021. Behind the rising trading volume is the growth of a new NFT marketplace, LooksRare, where users can earn tokens from the platform by buying and selling NFTs. The NFT landscape has been on a rising trend led by marketplaces like OpenSea, while platforms on non-Ethereum chains (e.g., Solana) are also beating records. Read more
Bitcoin mining carbon emissions at ‘inconsequential’ levels: CoinShares
A new report by CoinShares sheds new light on Bitcoin’s mining energy debate and how its consumptions compare to the benefit it provides for society. The new research found that Bitcoin’s mining consumption is responsible for less than 0.1 percent of the global carbon emissions, while its impact is ‘overblown.’
Compared to the traditional finance system, Bitcoin’s mining energy needs are ‘minimal,’ while its benefit for society far surpasses its disadvantages. Read more
China names blockchain trial zones after its crackdown on cryptocurrencies
The influence of blockchain technology is rising across corporations and even governments. China is leading that transformation, with programs to implement blockchain across sectors, including manufacturing, energy, data sharing, and others. The Cyberspace Administration of China (CAC) is running this blockchain pilot, targeting 15 zones and 164 entities in a widespread effort to lead this technological shift. Read more
This document is purely for educational purposes and has been issued by Sygnum Group. It is not intended for distribution, publication, or use in any jurisdiction where such distribution, publication, or use would be unlawful, nor is it aimed at any person or entity to whom it would be unlawful to address such a marketing communication. It does not constitute an offer or a recommendation to subscribe, purchase, sell or hold any security or financial instrument. It contains the opinions of Sygnum Group, as at the date of issue. These opinions and the information contained herein do not take into account an individual‘s specific circumstances, objectives, or needs. No representation is made that any investment or strategy is suitable or appropriate to individual circumstances or that any investment or strategy constitutes personalized investment advice to any investor. Therefore, you must verify the above and all other information provided in the document or otherwise review it with your external advisors. Some investment products and services, including custody, may be subject to legal restrictions or may not be available worldwide on an unrestricted basis. The information and analysis contained herein are based on sources considered as reliable. Sygnum Group uses its best efforts to ensure the timeliness, accuracy, and comprehensiveness of the information contained in this document. Nevertheless, all information indicated herein may change without notice.