Digest

• Bitcoin’s Taproot Is Live amid High Expectations, BTC Hailed as a Hedge Against Inflation
• Gemini Lists (SHIB), Kraken drops hint at possible listing
• OpenSea’s daily trade volume doubles. Google (NASDAQ: ) NFT searches hit an all-time high
• B2B companies want cross-border payments but aren’t convinced about crypto
• Forte raises $725 million in Series B funding

Bitcoin’s Taproot Is Live amid High Expectations, BTC Hailed as a Hedge Against Inflation

Taproot finally gave enthusiasts an upgrade after four years. Taproot, the eagerly awaited Bitcoin upgrade was activated in block 709632 on Sunday November 4.

Taproot allows for greater security and efficiency in Bitcoin transactions. Additionally, the network will operate faster and have lower transaction fees. Taproot’s most exciting feature is the unlocking of smart contracts potential.

As Bitcoin’s upgrade goes live, experts have predicted a rally for the crypto, expecting BTC to surpass $70k before the end of November. Bitcoin, however, has been consolidating between $64k-$66k. BTC traded at $65,810 as of the writing.

This is the five-day Bitcoin price chart (BTC) Source: Tradingview

With Bitcoin’s strong performance in 2021, it has emerged as the best inflation hedge for investors. With a record 99.9% deflation over the last year, it’s clear why the institutional inflow into Bitcoin has steadily risen in 2021.

Flipsider:

• Taproot’s launch didn’t coincide with the expected price rise, at least so far.

Care is a must

Bitcoin users no longer have to wait for June. Now they can access smart contracts and avoid middlemen in transactions.

Gemini Lists Shiba Inu, (SHIB), Kraken Drops Int as Possible Listing

Gemini has joined the growing number of exchanges which will now list Shiba Iu (SHIB), another victory for Shiba Coin, a trending meme coin. Gemini joins Binance, KuCoin and others to list the token.

The listing of the Shiba Army from Gemini was completed on November 12. SHIB was added to the exchange along with a host of assets including Audius, Mask Network (MASK), Wrapped Centrifuge(wCFG), Quant [QNT], Radicle (RAD), Burn and ASH), SuperRares (RARE), Fetch AI/FET, Numeraire (NMR), and Radicle (RAD).

Brian Hoffman, Kraken’s product lead, has also teased a Shiba launch on Kraken this week. Kraken stated that it would list SHIB on November 1 if its tweet reached 2,000 views.

@brianchoffman claimed that $SHIB will be listed tomorrow if it gets 2,000 likes – but that’s not possible.

— Kraken Exchange (@krakenfx) November 1, 2021

Kraken has yet to add SHIB despite having received over 83 600 likes. However, Hoffman has now tweeted that he is “feeling good” about the week, adding a GIF that depicts a Shiba Inu dog typing on a laptop.

Flipsider:

• Although the petition asking for SHIB’s listing on Robinhood (NASDAQ) has attracted over 500,000 signatures it still is not listed on the platform

Why you should care

Increased availability of Shiba Inu (SHIB), on more exchanges could increase liquidity and possibly raise the SHIB price.

OpenSea Trade Volume Doubles Daily, and Google Searches for Non-Focus Technology Hit All-Time High

OpenSea has more than doubled its daily trade volume in less than one week, just one week after it crossed the $10 billion threshold. This increase is accompanied by a rise in the demand for Bored Ape Yacht Club (NFTs), which has pushed sales up more than 90%.

Dune Analytics reports that daily trades on the NFT market OpenSea have increased from $48 to $105 millions. Oct 25, 1995 was the last day sales crossed $100,000,000.

OpenSea has a new record due to an increased global interest for non-fungible tokens. New research shows that global searches on Google for NFTs are at an all time high. China has the highest number of NFT searches, at 100. Singapore is second, and Hong Kong third, at 65 and 76.

In addition, “GeckoCon- NFTs Gone Wild,” one of the biggest NFT conferences, is scheduled to be held between November 17 and 19. Industry leaders will gather at the conference to discuss this interesting sector.

Flipsider:

• OpenSea is being criticized over insider trading, bugs that allow the creation and theft of malware-like FTs and bugs.

Why you should care

NFTs are gaining more interest, which has dispelled the notion that NFTs would burst.

B2B companies want cross-border payments but aren’t convinced about crypto

We have witnessed a rise in cryptocurrency adoption over the past year. All accounts indicate that cryptos are now ready to enter the business-to-business trade market.

Invoiced, PaymentsNEXT and a joint research found that B2B firms want digital assets to facilitate cross-border payments. But 59% are still skeptical about crypto-payments.

These firms most often cited the difficulty in accepting cryptos as their biggest obstacle. From August 2021, 269 finance professionals provided their responses.

Flipsider:

• B2B respondents embraced cryptocurrency funds only 2%, and 39% stated a willingness to accept digital money..

Why you should care

To achieve widespread adoption of cryptocurrency, it is necessary to have an inclusive adoption across all sectors, B2B included.

Forte raises $725 million in Series B funding

Forte is a platform that gaming publishers can use to incorporate blockchain technology in their games. It has just completed the largest round of funding for 2021. A Series B financing round has netted $725 million for the blockchain company.

Sea Capital and Kora Management co-led the funding round. Andreessen Horowitz (“a16z”), Ventures,” Tiger Global”, Ventures”, Ventures, Ventures, Polygon Studios and Cosmos were among the participants.

Forte will now have more than $900 millions in funding by 2021 thanks to this round. The funds will be used to expand Forte’s products and services and speed up the onboarding of emerging game and content publishers.

Flipsider:

• We have already seen more blockchain-based games by 2021. However, there are still many traditional games that need to be replaced.

Why you should care

Forte already has 40 partner game developers. Its expansion could bring more games publishers into the blockchain.

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