3 ways blockchain technology could further mainstream in 2022

2021 was a breakout year for the cryptocurrency sector and this year is expected to see an extension of the “mass adoption” trend. Public awareness of blockchain technology is on the rise and a new cohort of projects designed to fill more niche roles in society are likely to emerge in the coming months. Three sectors that have the potential to see significant growth in 2022 are human resources (HR), employee payment solutions and platforms that serve the gig economy by offering corporate blockchain solutions. HR might pivot toward blockchain…

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Bitfinex advises Ontario-based users to close accounts before March 1

In a Friday announcement, Bitfinex said it would be immediately closing the accounts for Ontario-based customers who have no balances on the platform. In addition, it planned to restrict access to those who do not have open positions in the exchange’s peer-to-peer financing market or open margin positions. Users who have balances or open positions on Bitfinex and are one of the roughly 15 million residents of Ontario — which includes Toronto and the nation’s capital city of Ottawa — “will no longer have access to any services” starting on…

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Stacks ecosystem becomes #1 Web3 project on Bitcoin

On the first anniversary of the launch of Stacks blockchain (STX), which seeks to make Bitcoin (BTC) programmable, the network achieved over 350 million monthly API requests, 40,000 Hiro (development tool for Stacks to build applications on Bitcoin) wallet downloads, and 2,500 Clarity smart contracts. According to a report by Electric Capital, a venture capital firm focused on cryptocurrencies and fintech, these statistics make Stacks the largest project on Bitcoin. More than 11,000 users earned more than 100 BTC rewards per month on Stacks due to its unique proof-of-transfer, or…

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Dogecoin leaps 25% after Musk announces DOGE payments for Tesla merch

Dogecoin (DOGE) prices rose substantially on Jan. 14 as Elon Musk announced that Tesla would start accepting it as payment for merchandise.  Tesla merch buyable with Dogecoin — Elon Musk (@elonmusk) January 14, 2022 After the announcement, DOGE price jumped nearly 13%, hitting a 30-day high of $0.2150. Its upside move came as a part of a larger intraday rally that already was taking place before Musk’s Dogecoin tweet went viral. The DOGE price went up by over 25% on Jan. 14 before correcting lower to $0.1986 on profit-taking. DOGE/USD hourly price…

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Disney, Second Life and K-pop

Following the announcement that Facebook’s parent company would be rebranding in a shift towards the Metaverse, many projects have started similar initiatives entering the virtual space, from buying property to testing the limits of what this universe has to offer.  Visit Disneyland… in the Metaverse? The entertainment company behind some of the most popular theme parks in the world recently had a patent approved for a “virtual-world simulator in a real-world venue.” Though the Los Angeles Times reported that Disney had “no current plans” to use the simulator in the…

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CoinMarketCap allegedly lists 3 fake SHIB contract addresses, Twitter firestorm ensues

A bit Twitter drama ensued on Thursday, continuing well into Friday afternoon, when developers behind popular meme token Shiba Inu (SHIB) issued a statement alleging that CoinMarketCap had listed three fake SHIB contract addresses belonging to the Binance Smart Chain (BNB), Solana (SOL), and Terra Luna (LUNA) blockchains. The staff at Shiba Inu claimed that the addresses were unsafe and that CoinMarketCap had refused to correct the alleged mistake. At the time of publication, the contract addresses are still viewable on CoinMarketCap. Official Statement regarding the recent actions by @CoinMarketCap…

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Cathie Wood’s ARK ETF reportedly buys 6.93M shares of SPAC merging with Circle

Cathie Wood’s Ark Invest has reportedly purchased 6.93 million shares of the special purchase acquisition company, or SPAC, that is merging with Circle, for $70.6 million through the company’s ARK Fintech Innovation exchange-traded fund (ETF). This purchase would represent a new position for the ETF, according to MarketWatch.  Ark Invest’s ETFs have a history of bold purchases within the tech industry as indicated by their move to buy $80 million in Robinhood shares after the prices dipped back in October 2021. Wood is also bullish on crypto despite passing on…

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3 reasons why Near Protocol (NEAR) just hit a new all-time high

The layer one (L1) battle is starting to heat up again and multiple protocols have seen their token values rise in recent weeks as traders venture out to see what life is like outside of the Ethereum (ETH) network.  One L1 protocol that has seen its token price climb to a new all-time high this week was NEAR, a community-run cloud computing platform focused on interoperability and lightning quick transaction speed. Data from Cointelegraph Markets Pro and TradingView show that, following a pullback that hit a low of $13.10 on…

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NFT sales and blockchain games continue to grow despite the recent market slump: Report

January 2022 continues to be rough for crypto investors as current markets see turbulent fluctuations in the price of Bitcoin and other cryptocurrencies. Some have attributed the slump to recent federal intentions to introduce new rate hikes, and the political turmoil in Kazakhstan which significantly lowered the hash rate of bitcoin. On Jan. 14, the price of Bitcoin dipped below $42,000 as traders continued to hold out hope for bullish signals.  NFT trading and blockchain games on the other hand seem to have resisted the dip. According to reports from DappRadar, NFT…

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Crypto-focused software firm Lukka raises $110M, reaches $1.3B valuation

Cryptocurrency accounting and data company Lukka said it had raised $110 million in a new funding round led by hedge fund giant Marshall Wace. In a Friday announcement, Lukka said it had completed a $110 million Series E funding round led by Marshall Wace, with participation from Soros Fund Management — a fund created by billionaire investor George Soros — Liberty City Ventures, S&P Global, and accounting advisor CPA.com. Lukka said it planned to use the funds for “aggressive growth and global expansion strategy” with its current customer base dealing…

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