Digest

• Facebook (NASDAQ: ) will allow more crypto advertising, Jack Dorsey rebrands Square, changes name to Block Inc.
• Update: PlanB makes a new prediction, Fidelity moves Bitcoin ETF into Canada. User loses $50 million
• Altcoin Update: Overtakes , Filecoin’s Computing Power Declines
• BoA: Metaverse is a Big Opportunity. $106 million worth of Metaverse Land sold in one week
• One Month After Launch, Katana Dex Becomes Second Largest DEX

Facebook will allow more crypto advertising, Jack Dorsey rebrands Square as Block Inc.

After its corporate rebranding from Facebook and Meta to Meta, it was clear that Facebook would be more open to cryptos. Meta confirms that and announces that it will now allow more blockchain and crypto ads to be posted on Instagram and Facebook.

Meta is no longer announcing a crypto ban. Instead, it has increased its requirements for blockchain and crypto firms. Meta’s new policies now recognize 27 regulatory licenses from advertisers, up from its previous three, meaning more crypto firms can advertise on Instagram and Facebook.

Bitcoin evangelist and co-founder of Twitter (NYSE:) and Square, Jack Dorsey, has set out on the journey of ‘making Bitcoin more than an investment.’ After stepping down as Twitter CEO, Dorsey has announced that Square is changing its corporate name to Block Inc.

Spiral has become the name of Square Crypto Service. According to Dorsey, the name was changed because having “crypto” in its name led to confusion, as Square is focused solely on Bitcoin.

Flipsider:

• Following Bitcoin’s poor performance in the market, it has received some high-profile criticism from bankers who believe it will not survive

Why you should care

Crypto firms are now more accessible than ever, which could allow them to target a wider audience via ads on Facebook and Instagram.

Bitcoin Update: Fidelity moves Bitcoin ETF Canada to Canada. User loses $50 million

After his November prediction of a failure, Plan B (a pseudonymous Bitcoin analyst) has dazzled investors with the hope that he can make it work again. Plan B had predicted in November that Bitcoin would reach $98k. Bitcoin plummeted to $54k in its lowest point of November.

Plan B called his failed prediction a “once-in-a-lifetime error.” However, despite missing his November prediction by a mile, PlanB, whose predictions have largely been correct, still believes that Bitcoin will end the year trading above $100k.

Fidelity Investments is moving its Bitcoin ETF from the United States to Canada because it was tired of waiting on approval by the U.S. SEC. Fidelity Investments would become the most important asset manager in order to launch Bitcoin ETFs.

Fidelity Advantage Bitcoin Exchange Tradeable Fund was filed on November 22. It could be launched on the Toronto Stock Exchange this week under the ticker FBTC.

Flipsider:

• Badger DAO hack cost $120m. One user was identified as being the most affected. Unidentified users lost approximately $50 million in bitcoin (roughly 896 BTC) when the yield vault protocol was exploited.

Altcoin Update: Terra Overtakes Shiba Inu, Filecoin’s Computing Power Declines

Shiba inu (SHIB), who made an immediate impact on the 2021 scene, quickly rose to prominence, becoming one of the most successful gainers. The Shiba Army cheered him on. Shiba (SHIB) seems to have lost steam and is now being replaced by Terra, LUNA.

LUNA gained 7% in the past 24 hours and 52% over the previous week. This makes it the most performing cryptocurrency in the Top-100 ranked crypto market caps.

Terra’s seven-day price graph (LUNA) Source: Tradingview

Thanks to LUNA’s recent spike, it now trades at $62.381. LUNA currently has a market value of $24 million. Terra currently sits at the 12th biggest cryptocurrency while ShibaInu is the 13th.

Flipsider:

• Terra, while enjoying a joyful ride, has witnessed its computing power steadily decrease following China’s incessant attack on crypto mining
• Filecoin’s computing power has dropped from 10EiB to 2.26EiB, with most users located in China.

Why you should care

A prevailing regulatory policy can have a significant impact on the trend in cryptocurrency, such as Filecoin.

BoA: Metaverse is a Big Opportunity. $106 million worth of Metaverse Land sold in one week

Grayscale referred briefly to the metaverse in the same way that he called it a $1 trillion opportunity. However, not long afterwards the Bank of America (NYSE) (BoA), also called the metaverse a great opportunity. Hiam Israel from the Bank of America, who is a BoA strategist said that the metaverse can boost blockchain technology.

The BoA strategist believes that the metaverse will drive blockchain adoption and cryptocurrency to widespread acceptance. He believes that cryptocurrency would have to be viewed as currency in order for this to happen.

Flipsider:

• Haim Israel said that private tokens can be too volatile and stablecoins, such as and, are more likely succeed.

In a recent report, the growing popularity of the metaverse was acknowledged. DappRadar estimates that between November 22-28, $106 million in metaverse lands was sold. Decentraland came in second with $15 million and the Sandbox $86 million.

Care is a must

Rightly, the metaverse is one of most popular technologies and concepts. It has the potential to transform how we live, work and play in the future.

One Month After Launch, Katana Dex Becomes Second Largest DEX

DappRadar has ranked Katana as the second most active DEX, after Ronin. Katana was an automated market maker, (AMM), built upon Ronin.

In November, launched the Katana DEX on its Ronin blockchain to help users trade assets and also remain within the whole expansive Axie Infinity Universe, “Axieverse.” Since then, the DEX has gathered more users than other DEXs, except PancakeSwap.

Katana gained users quickly because it allowed individuals to easily swap tokens in the Axieverse. The platform saw an increase in activity of more than 4,615,280% within 14 days.

Wu Blockchain claims that DEX has gathered more than 390,000 registered users since it was launched in November. Katana has now a TVL (total worth locked) of $1.41 Billion.

Flipsider:

• The growth of DEXs is encouraging, however the SEC Chief calls for the centralization and management of crypto exchanges

EMAIL NEWSLETTER

Get the other side of crypto!

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7]
It takes just 1 click to unsubscribe.

Continue reading on DailyCoin