Discover the top news in crypto for the week!
New research shows that crypto payments are increasing in countries with high inflation, while more people look at digital assets to offset it. Meanwhile, more jobs move to the Metaverse while Wall Street institutions look at tokenization and crypto as the next market trend. Find out the top 5 crypto news of this week.
Digital Nugget: Are rising rates positive or negative for the crypto market?
Is the potential rising interest rates good or bad for crypto? Until November 2021, the correlation between 10-year US Treasury yields and bitcoin has been positive. In 2020 and 2021, during crypto’s institutional boom, these correlations were positive, confirming that institutions looked at bitcoin as a hedge asset. The Sygnum Bank team explores the top reasons why rising interest rates are not ‘bad’ for crypto while also analysing other factors that influence market behaviours. Read more
Is the ‘Great Resignation’ inspiring a virtual jobs migration into the Metaverse?
People are leaving their jobs after the Covid-19 pandemic on a large scale, in a movement coined the ‘Great Resignation.’
Crypto, gaming, and the Metaverse are creating a new age for the gig economy, opening novel opportunities for people to make a living while enjoying what they do.
Play-to-earn gaming, the monetisation of online avatars, and selling digital real estate are some of the opportunities in crypto triggering the ‘Great Resignation.’ Read more
P2P payments spurred crypto adoption across Venezuela in 2021
Venezuelans are turning to cryptocurrency to offset local inflation, while more people globally search for ways to tackle rising inflation rates. Venezuela is now the 7th country with the highest crypto adoption worldwide, according to Chainalysis, given the adoption of crypto for payments and recurring transactions. Not only people, but many institutions and big outlets (e.g., Simón Bolívar International Airport, supermarket chains, casinos) are accepting digital assets as payment, among other crypto initiatives. Read more
Is blockchain the future of entertainment?
Blockchain funding has beaten records in the last years, with more people looking at alternative uses for blockchain technology, from finance to entertainment. Blockchain technology can impact content production, distribution, and consumption while opening payment options for consumers and boosting a fair remuneration for creators. For example, smart contracts can reduce bureaucracy for movie production, cut negotiation times, bolster the redistribution of rewards for content creators, and streamline the entire industry.
Young, crypto-savvy voters may hold key to South Korea's next election
Can crypto influence elections? The upcoming election cycle in South Korea could change crypto in the country, with candidates presenting different proposals for digital assets. Young crypto voters could have a say in this election, with regulatory changes that will impact the crypto landscape in South Korea. Proposals range from a no-tax threshold for crypto gains to building proper infrastructure and turning the country into a global crypto hub. Read more
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