Sometimes you win and sometimes you lose, If you’re looking at the crypto market today
and your seeing red, well the news isn’t all bad. How can you say that? Well,
typically in run ups, corrections are normal and great opportunities to enter the market.
In fact the last couple of days have been kind to Ethereum which has just recently made
new highs!
A massive gaming company, we’ll tell you which one in a second, is now part of the
Tezos family, WeWork is accepting crypto payments and more Americans than ever are crypto curious.
NFT’s breaking out of the art segment into someplace you might never have guessed.
Stick around because we’ve got all these stories and more in this week’s Exodus Crypto
News.
Welcome back crypto fam and if you’re new here, please……
Red is the color of the day not only in the crypto markets but in the traditional markets
as well. It looks like we may be back into a minor correlation between the two as all
markets took a downturn when a story broke yesterday that the US president might impose
a capital gains tax increase up to 43% for extremely wealthy individuals. If you want
to know more how that might affect you and your crypto, I would suggest consulting a
licensed financial advisor, of which I am not. So, let’s do a lightning round of the
numbers. Everyone in crypto has heard about DOGE by
now. It’s been on an epic run from $0.06 all the way up to $0.42 at the peak.
Is it sustainable? We’ll have to wait and see. For a while now, DOGE coin supporters
have been right and everyone throwing shade has missed out on one of crypto’s recent
greatest runs. Bitcoin has been having a bit of a rough go
of it since the Coinbase IPO. The orange coin briefly made a new all time high just under
$65,000, but it’s been nothing but downward price action since then. Questions abound
about whether this is a correction or consolidation. Everybody who watches this programs knows
I speak about the institutional money flowing into BTC and I can imagine they look like
a pack of hungry wolves right about now ready to pounce on
the sale.
It’s a fine time to be in Ethereum! ETH is making new all time highs and it’s doing
it at a time while Bitcoin is seemingly stuck in the dust.
Have you heard about Solana? The project, which means “sunshine or, sunny side”
in Spanish, is definitely bringing the light. The SOL token is up 151%% from just a month
ago, from $13 to $35.
Markets aside Blockchain is moving closer to the mainstream.
Once again Wyoming is showing us the way. The sparsely populated western state, known
best for its mountainous vistas and long roads where the speed limit is 80 MPH, has enacted
legislation that officially recognizes DAOs as a type of LLC (limited liability company).
This move will give DAOs legal authority in the state and it’s a huge step forward for
integrating smart contracts and other crypto governance structures into the legal system.
So which state do you think is the next to follow suit? Let us know in the comments.
A new study has shown that more than 60% of adults in the United States are interested
in crypto. So let’s do a bit of math to see what this means.
It’s hard to know for sure, but surveys estimate that about 30 million Americans own
Bitcoin. In total there are 200 million adults in the USA. So if we assume that in the next
three years, those 60% of Americans who are crypto curious actually buy some coins, that’s
120 million hodlers, or 4x the number of Americans who own Bitcoin and other crypto currencies
right now.
Not if, but when.
Bitcoin isn’t money because you can’t spend it anywhere, or so the saying goes.
Well… There are 20 million PayPal merchants that now accept crypto, and if you’ve got
about three-quarters of a Bitcoin you can use it to buy a Tesla. So that’s definitely
a start, but how about this.
Real estate company WeWork is now accepting crypto payments in the form of BTC, ETH, USDC
and even a few other lesser known coins. The company has even said that they’ll be keeping
a portion of all crypto payments on their balance sheet.
So you can buy a car with Bitcoin, you can pay for your office space with Ethereum, you
can shop online with USDC… The notion that you can’t spend crypto anywhere isn’t
a valid argument anymore.
The gaming company Ubisoft has taken a big step into crypto with their announcement that
they’re going to start baking Tezos.
For anyone unfamiliar with Tezos, baking is essentially the same thing as staking. So
Ubisoft is locking up their Tezos XTZ to help secure the network and earn a staking reward.
Tezos is a good fit for Ubisoft since the blockchain has more scalability than Ethereum
and significantly lower fees. That’s important for Ubisoft, since they may incorporate blockchain
technology into their games in the future. NFTs (non-fungible tokens) are super interesting
because they get criticized all the time even though the technology itself is totally neutral.
The idea is that when you create a NFT there is a limit on the number of tokens created,
whether that’s 1 token or 1 million. Those are the original tokens and nobody can create
a duplicate and claim that it’s an original.
Given these technical parameters, it makes sense that IPwe is partnering with IBM to
record corporate patents using NFT tokens. The patents are recorded onto the blockchain
forever, and everyone can see the exact date that the patent was issued.
This is an exciting new use case for NFTs and truly it’s only the beginning. We expect
to see a lot more novel use cases for NFTs in the coming years.
In 2021 we’re really reaching the point where crypto isn’t just about speculation,
it’s about real world adoption! So whether the markets are up or down today, the future
remains bright in the long term.
Thanks for watching everyone, make sure to hit those Like and subscribe buttons, and
until next time, hodl on!