Breaking news
- German savings banks, called Sparkassen in German, are working on a “secret” project that will enable them to trade cryptocurrencies such as Bitcoin or Ethereum, local business publication capital reported.
- Per each report, a dedicated team at the IT service provider S-Payment is preparing the concept, with the savings banks’ committees to vote on the project at the beginning of the next year.
- Brazil Stock Exchange B3 Plans to Enter Crypto Market in 2022.
- CoinSwitch Kuber appoints Ashish Chandra as general counsel.
Market snapshot
Bitcoin declined marginally by 3.49 percent to trade at Rs 37,88,240 while Ethereum (Rs 3,03,724) fell by 5.69 percent. Cardano (Rs 98.79) fell by 6.18 percent. Avalanche (Rs 6,350) tumbled by 10.09 percent, Polkadot (Rs 2,115.88) declined by 8.75 percent and Litecoin (Rs 11,712) also tumbled by 5.76 percent over the last 24 hours.
Bitcoin was trading around the lower end of its weeklong range as bullish sentiment began to fade. BTC is down about 7% over the past 24 hours compared with a 10% drop in ether and a 12% decline in Solana’s SOL token over the same period.
Recent declines across cryptocurrencies have some analysts concerned about near-term price direction, especially ahead of the U.S. Federal Reserve Open Market Committee (FOMC) meeting Dec. 14-15. Market participants expect the central bank to accelerate the pace of asset purchases, which could cause some investors to reduce their exposure to speculative assets including equities and cryptocurrencies.
Sushi tokens jumped as much as 10% in early European hours to over $6.19 from a low of $5.30 on Sunday night, data from market tool CoinGecko shows.
Digital asset manager ETC Group has launched an institutional-grade tezos exchange-traded exchange-traded product (ETP) on Europe’s Deutsche Börse XETRA under the ticker symbol.
Polkadot (DOT)
Market cap: Over $37 billion
Cryptocurrencies may use any number of blockchains; Polkadot (and its namesake crypto) aims to integrate them by creating a cryptocurrency network that connects the various blockchains so they can work together. This integration may change how cryptocurrencies are managed and has spurred impressive growth since Polkadot’s launch in 2020. Between September 2020 and Nov. 30, 2021, its price grew about 1,300%, from $2.93 to $38.61.
Dogecoin (DOGE)
Market cap: Over $28 billion
Dogecoin has been a hot topic thanks to celebrities and billionaires like Elon Musk. Famously started as a joke in 2013, Dogecoin rapidly became a prominent cryptocurrency option, thanks to a dedicated community and creative memes. Unlike many other cryptos, such as Bitcoin, there is no limit on the number of Dogecoins that can be created, which leaves the currency susceptible to devaluation as supply increases.
Crypto tracing firm Chainalysis said it will provide data and compliance tools to Robinhood’s online crypto trading service, Robinhood Crypto.
Robinhood (Nasdaq: HOOD) will use the software to meet compliance requirements and help keep accounts safe, Chainalysis said in a blog post Monday.
