Digest

• Exchange outflows of (ETH) drop to a four-year low

• Kraken targets NFT lending; Ozzy Osbourne launches NFT collection. Ferrari (NYSE:) Formula 1 partners With Velas.

• Canada issues Binance license to offer crypto-services, FibSwap to launch the world’s first DEX app.

• DAO Group aims for $5 Million to Buy and Resurrect Blockbuster

• Billy Markus, founder, reveals his DOGE holdings.

Ethereum (ETH) Exchange Outflows at a 4-year Low

The recovery of Ethereum saw the ETH reach $4,129. However, the exchange outflows have dropped to a 4-year low. Glassnode’s data indicates that ETH outflows are at an all-time low since January 2022.

For assessing trends in cryptocurrency markets, exchange outflow is a long-standing indicator. Low outflows can indicate low selling pressure, which may lead to price drops. However this is not a common situation.

Because of record-low investor funds, Ethereum’s reserves could be very low on the exchanges. Ethereum continues to be one of the best performers in 2021, and this is evident by its performance.

The same trend was observed for, with which the BTC stored on exchanges fell to 1.3million, 6.3% of the total Bitcoin supply.

Flipsider:

• The delay of the Ethereum network’s transition to the PoS consensus mechanism has led to some investors and developers abandoning the network.

What You Need to Care About

Many crypto investors are choosing to HODL coins over selling, despite the predicted explosion in growth of the industry in 2022.

Kraken Targets NFT-Art Lending; Ozzy Osbourne Announces NFT Collect, Ferrari Formula 1 Partners With Velas

The biggest year for non-fungible tokens has been 2021. Even though this year has come to an end, NFT adoption continues to grow. NFT lending is being targeted by Kraken, the premier crypto exchange.

Jesse Powell CEO, stated that the marketplace would allow users to borrow money backed by NFTs. They will then reflect the NFTs’ values on their accounts, which can be used by the users to secure loans from the marketplace.

Ozzy Osbourne (an English singer) is the latest to enter the digital arts world. Osbourne announced that he would be launching ‘Cryptobatz’ – a collection of 9,666 unique NFT bats in January. Osbourne was the NFT creator, and Sutter Systems is the NFT studio.

Continuing the growing adoption of NFTs in the sports industry, Ferrari’s Formula 1 team has unveiled a partnership with Velas. The partnership will see Velas create exclusive digital collectibles for the team’s motorsport fans.

Flipsider:

• Although China has banned cryptography, Tencent, Huawei and others are allowing the use of their services. Alibaba (NYSE:) is the leader of the roughly 1,300 firms that push for metaverse patents.

What You Need to Care About

In 2022, NFT will grow more as more people explore digital arts.

Canada Issues Binance License to Offer Crypto-Services, FibSwap to Launch the World’s First DEX App

On the same day it received approval in Bahrain, Binance announced that it had also secured an MSB license from Canada’s regulatory authorities, permitting them to offer cryptocurrency services in the country.

The world’s largest exchange is now registered as a domestic entity as of December 1st, 2021. Binance received a license from the Canadian government to be able to run a crypto exchange in Canada. This will likely remain valid until December 31, 2024.

Decentralized crypto exchange FibSWAP has announced that it is preparing to launch the world’s first decentralized (DEX) mobile application. FibSWAP will launch the world’s first decentralized (DEX) mobile app on Android devices. It will go live January 4, 2022.

FibSWAP is a DEX which supports tokens from multiple blockchains. It will work in the same way as their existing DEX. Additionally, the app will have a UI/UX which makes it easy to exchange tokens across different blockchains.

Flipsider:

• FibSWAP’s biggest challenge was how to work within regulations.

What You Need to Care About

To make cryptocurrency mainstream, exchanges like Binance (and FibSWAP) must lead the charge and introduce new features.

DAO Group Strives to Raaise $5 Million for Blockbuster Acquisition and Revitalization

A DAO (Decentralized Autonomous Organization) has announced its plans to raise $5 million in a bid to purchase and revive Blockbuster – a movie and video game rental service owned by Dish Network (NASDAQ:).

BlockbusterDAO is the investor group that aims to buy and relaunch this movie-rental business. BlockbusterDAO wants to raise $5m by minting NFTs that will then be sold each to investors for 0.13 Ethereum (approximately 530 USD according to rates at the moment of writing).

BlockbusterDAO intends to revive Blockbuster as an open-source streaming platform. The group announced that they would be relaunching Blockbuster as a decentralized streaming service.

“It’s time to build a massive DeFilm project that will revolutionize the creative decision-making and financing of the film and television industries forever. I believe that BlockbusterDAO will be like lighting in a bottle for the future of DAO governance.”

Flipsider:

• In November, the DAO did not purchase one of the remaining 13 copies of Constitution.

What You Need to Care About

DAOs have been increasing in numbers, which has pushed for greater decentralization of various sectors.

Dogecoin founder, Billy Markus, reveals his DOGE Holdings

Billy Markus, co-creator the meme-coin worth multibillions of dollars, revealed how much Dogecoin his family owns. Markus, who is co-founder of Dogecoin with a $25.2 million market cap, would be expected to own a substantial portion of crypto.

Markus revealed that he has only 220k DOGE. This is in contrast to the popular belief that Markus is a DOGE whale. It’s worth approximately $42,000. Markus sold his DOGE in 2015 to purchase a Honda Civic.

Since then, the Dogecoin founder clarified his position in the pioneering meme coin. Markus says he’s now a Dogecoin member. He adds that he doesn’t speak for or work with the Dogecoin Foundation, and as such, shouldn’t be considered a representative of the project.

Flipsider:

• Dogecoin lost its position as most-popular meme coin. It was also the CMC 2021: Most viewed crypto