2022-01-26

Daily Digest – January 26th

• Bitcoin recovers as institutional inflow returns, Bitcoin plunge won’t last – Anthony Scaramucci.

• Ripple hits $15 billion valuation amidst stock buyback.

• Mark Zuckerberg considering selling Diem assets to pay back investors.

• OpenSea Considering Solana Network Support and Phantom Wallet Integration?

Bitcoin Could Be Valued at Above $1 Million Per Coin by 2030 – Ark Invest

Even as the price of Bitcoin struggles at multi-month lows, Cathie Wood’s Ark Invest has made more extravagant predictions about the future value of the world’s largest cryptocurrency.

The American investment management firm believes that Bitcoin could grow to boast more than 26x its current price of $38k, to the point where a single BTC would be valued at over $1 million.In a recent report, Ark Invest outlined its defense for Bitcoin hitting a value of $1.36 million per unit by 2030. According to the investment firm, by 2030, Bitcoin’s market cap could be as much as $28.5 trillion... 

IMF Urges El Salvador to Repeal Bitcoin as Legal Tender

The International Monetary Fund (IMF) urged El Salvador on Tuesday 25th to “eliminate the quality of legal tender” of Bitcoin while expressing its “concern” about the issuance of cryptocurrency-backed bonds that the country’s government plans to make in Central America, reported EFE.In a press statement, the international credit organization announced that the Executive Board had concluded its Article IV consultation with El Salvador on January 24th. During the annual consultation, the strategy applied by the government of Nayib Bukele to address the pandemic was analyzed, as well as the implementation of Bitcoin as a payment instrument...

Opensea Bug Opened Door for Sneaky Shoppers to Snag $1 Million in NFTs for a StealA loophole on the Opensea NFT trading platform cost some traders $1 million in combined profits.

The DeFi Sector Could Experience a Shakeout in 2022, Fueled by Liquidation

Since the summer of 2020, the decentralized finance (DeFi) sector has witnessed a strong run, with the total value locked (TVL) in all DeFi protocols peaking at above $290 billion in December 2021.However, the recent crypto market crash, which marks the first crypto winter for the industry, has been tough on decentralized finance protocols across the board. While Bitcoin even is down more than 45% from its all-time high, DeFi protocols have seen even steeper corrections...

That's you all up to date. But if you're hungry for more crypto news and insights, there's always more on our website.And feel free to reach out to us at [email protected] with any questions or comments.Until next time,Tadas