CRYPTO DIGEST \ NOVEMBER 26 - DECEMBER 9, 2022

Winter Is Coming: BEQUANT, Metallica and ETH Price Predictions For 2023

While the global crypto industry is recovering from the recent dramatic FTX scandal and the oldest signature, dated Jan. 2009, shown by a mysterious Bitcoin miner, some market participants are ready to move on.

With CrossTower acquiring BEQUANT, Huobi and Poloniex building a partnership, Warner Music, Polygon and LGND building a new Web3 music platform, it seems like cryptoverse is getting ready for 2023.
Market Cap
The global cryptocurrency market cap now stands at $0.860 Trillion, up by +4.0% over the last two weeks, according to CoinMarketCap data. Bitcoin price grew to $17,258.7, and Ether is currently trading at $1,289.1 on the Aximetria app.
$860 Billion
+4.0%
* Crypto market capitalization is the total value of a cryptocurrency. It is calculated by multiplying the cryptocurrency price with the number of coins in circulation.
BTC Treasuries
BTC Treasures are alternative inflation hedges and stores of value that are especially popular in the times of world economic destabilization.
ETFs
Exchange Traded Funds
808,688 BTC
Governments
244,779 BTC
China
194,000 BTC
Public Companies
258,385 BTC
MicroStrategy
130,000 BTC
Private Companies
316,067 BTC
Mt. Gox
141,686 BTC
Grayscale Bitcoin Trust
643,572 BTC
Top 3
Top 3
Top 3
Top 3
Learn more at Buy Bitcoin Worldwide
46,351 BTC
Ukraine
El Salvador
2,381 BTC
40,000 BTC
Galaxy Digital Holdings
Voyager Digital LTD
12,260 BTC
140,000 BTC
Block.one
The Tezos Foundation
17,500 BTC
CoinShares / XBT Provider
48,466 BTC
Purpose Bitcoin ETF
25,284 BTC
+0.11%
Headlines

  • CrossTower plans to buy institutional digital asset trading platform BEQUANT

Cryptocurrency exchange CrossTower Inc has decided to buy digital asset trading platform BEQUANT.

According to the acquisition agreement, CrossTower will get over 600 new professional exchange clients in addition to its existing client base. The incoming clients are collectively turning over $400 billion annually and are based across the United States, Europe, Asia and Latin America.

  • Strategic partnership of Huobi and Poloniex

On Nov. 30, the Chinese crypto exchange Huobi and US-based Poloniex announced a strategic partnership.

The two exchanges will "progressively cooperate" on Huobi's HT coin ecosystem development, liquidity sharing and global compliance. The exchange stated that the Huobi Advisory Board plans to evaluate all Poloniex projects monthly, with top performers potentially directly listed on Huobi.

  • Genesis allegedly owes $900M to Gemini's clients
BTC
$17,258.7
+5.2%
Bitcoin
Crypto lender Genesis and its parent company Digital Currency Group (DCG) allegedly owe $900 million to Gemini's clients, according to a Financial Times report disclosed on Dec. 3, citing people familiar with the matter.

The problem is tied to the Gemini Earn program, which offers 8% earn interest on crypto lending and is operated by Gemini in partnership with Genesis.

Gemini has already assembled a creditor's committee and is working to recoup the funds from Genesis and DCG. To restore clients' trust amid fears of contagious spread following FTX's fall, Gemini announced on Nov. 29 its Trust Center, a dashboard showing metrics for funds held by Gemini and on the exchange's behalf.
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  • Metallica issues crypto scam alert before new album launch
Metallica's new album launch and upcoming tour created a buzz among music fans, and scammers started targeting them through social media impersonation.

Metallica quickly pointed out "the ugly side of social media" and asked fans to be cautious. Metallica also asked fans to limit their interactions to verified band accounts, especially when dealing with information that could be considered "wild and crazy to be true," and shared a list of its official social media channels on Twitter.

  • Warner Music, Polygon and LGND partner to launch Web3 music platform
MATIC
$0.93
+7.5%
Polygon
E-commerce and interactive platform builder LGND has announced a multiyear partnership with blockchain network developer Polygon and global entertainment company Warner Music Group to build a Web3 music platform called LGND Music.
LGND Music is aimed to be a music platform that supports "digital collectibles from any blockchain in a proprietary player," thereby making it possible for users to play their digital collectibles on the go. The launch is scheduled for January 2023.

LGND Music intends to deliver numerous features, helping music collectors to participate in a decentralized ecosystem based on full ownership of digital assets. According to the company updates, "users of the platform will also be able to buy and fully own music tokens and easily get started with digital collectibles by building a collection."
Crypto Regulation Updates
Dominica launched a digital identity program and a national token in partnership with Huobi.
Read more
Brazil
Nigeria bans ATM cash withdrawals over $225 a week to force the use of CBDC
Read more
Nigeria
Hong Kong working on investor protection regulations
Read more
The National Bank of Ukraine released a draft concept for digital hryvnia
Read more
Ukraine
Hong Kong
Brazil passed a law to legalize crypto as a payment method
Read more
Dominica
Israel's chief economist presented a report with recommendations for crypto regulation
Read more
Israel
Analysts Talk
Ethereum is the most well-known altcoin, and it's more than just another cryptocurrency, especially considering its outstanding utility features. Even though for most of 2022, it had many rough patches, experts predict it could rise and outperform Bitcoin in 2023, as it did before.

Analysts agree that the potential of Ethereum after the Merge is going to be fully released only in the next few years. We gathered several predictions from analysts, and we want to urge you to add a grain of salt to all price predictions, considering the high volatility in the market, and do your own research before making decisions.
  • David Kemmerer
    CEO of CoinLedger
    ETH could rise up to $2,500

    "ETH is yet to benefit in terms of value from the recently launched proof-of-stake merge," Kemmerer says. "Part of the reason is because of the crypto winter."

    Kemmerer believes the crypto could rise as high as $2,500 in the next six months.

    While this is an aggressive bull case, the fact remains that the same developments driving Bitcoin's price are impacting ETH.

    The macroeconomic climate must cooperate for upside gains to return. If it doesn't, Ethereum will likely fall further. Having dropped below $1,000 in June, it would not be surprising to see a three-digit price for ETH again in the next six months, should more negative catalysts crop up.
  • Coinpedia
    Cryptocurrency encyclopedia offering crypto news and market updates
    Start above $3,000, end at $2,400

    Coinpedia predicts ETH to start 2023 on a bullish note above $3,000 if the network sees a reduction in congestion and gas fees and further adoption following its massive upgrade.

    If the network struggles to increase adoption following the upgrade or the crypto market remains slumped, ETH could end 2023 at nearly $2,400.
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