Hello there I’m Sage, great to have your company on Kalkine TV and this is The Daily Crypto Catch
brought to you by Crossgate Capital. Let’s now catch up
on the past 24 hours from the crypto space!
First in Bitcoin news. The Chief Executive of Investment firm, ARK Invest,
has made a startling prediction, saying that Bitcoin would hit US$1 million by 2030.
The reasoning cited by ARK CEO, Catherine Wood,
included Bitcoin’s increasing adoption across the world.
The bold prediction comes at a time when Bitcoin is in the midst of a
cold winter, currently priced at US$38,500.
That being said, the past week has seen somewhat of a turnaround for the world’s
largest cryptocurrency, which was valued at US$33,500 on January 24. Source
And now let’s take a short break and we’ll be back
with today’s biggest winners and losers. Stay tuned.
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Welcome back to Crypto Catch on Kalkine TV, brought to you by CrossGate Capital.
In altcoin news. The Diem Foundation, which makes the cryptocurrency called Diem,
which runs Facebook’s Meta Project, has announced the sale of assets of
the cryptocurrency venture to Slivergate Capital Corporation for US$182million.
Although the project was launched in 2019 (then known as Libra),
it unfortunately ran into barriers put up by policy makers, and it became quickly apparent
that the project could no longer move ahead.
Diem Chief Executive, Stuart Levey,
wrote yesterday that the only path forward for Diem was to sell its assets.
Initially, Facebook intended for Diem to be a stablecoin.
However this was met with resistance.
In 2019, Prof Ross Buckley at the University of New South Wales, told the BBC that the project
would quickly become too big and was unlikely to get easy treatment from regulators.
Indeed, regulators did put it under heavier scrutiny leading Diem to hit a roadblock.
Yesterday, Facebook's former crypto head and Diem co-creator
David Marcus tweeted the idea might fare better with a more "acceptable" promoter.
Source
Moving on to today’s winners and losers over the past 24 hours.
UNUS SED LEO grew over 19 percent in the past 24 while Mina jumped nearly 12 percent.
Meanwhile, Flow dropped nine percent in the past 24 hours,
while Uniswap fell 5.5 percent over the same period.
ANNNND that’s all today for Crypto Catch. Stay tuned to Kalkine TV for the latest
market updates, business news and exclusive interviews. I’m Sage signing off for now.