CRYPTO TODAY
September 28, 2021
Despite recovery from Last week’s China FUD and Crackdown, prices have again slipped into the red end as BTC trades below $42,000 and ETH below $3,000. Most Altcoins, too, have bled out in the past 24 hours. The cryptocurrency market capitalization is down by $100 billion a day.
Above is an outlook of the cryptocurrency prices according to Coin360.com.
Morgan Stanley increases Bitcoin exposure.
Since April, Morgan Stanley, one of the top investment banks in the United States, has increased its stake in Grayscale Bitcoin Trust (GBTC) shares.
According to the bank’s most recent filing with the US Securities and Exchange Commission (SEC), the Morgan Stanley Europe Opportunity Fund, which has a total asset value of $371 million and invests in “known and emerging” European companies, owns 58,116 shares of the GBTC as of July 31.
At the time of publication, the price of GBTC was $34.18, putting the bank’s total BTC exposure at over $2 million. Morgan Stanley stated in its September 27 statement that the shares cost $2.4 million. The fund reported holding 28,289 shares, valued at $1.3 million at the time, earlier this year.
While the European Fund’s crypto exposure has grown, the investment bank still holds significant amounts of GBTC in numerous institutional portfolios.
Slovenia is the first country in the world to introduce an NFT product.
Slovenia is on pace to become the first country in the world to launch its first Non-Fungible Token (NFT) series, which will debut at the next Expo event in Dubai, which begins on October 1. According to its objectives, the NFTs would promote the country’s commercial advancements and the tourism industry.
According to the description, the digital collectables would “represent a collection of unique digital 3D exhibits and exclusive 360-degree panoramic high definition photographs.” These NFTs would be delivered as prizes to visitors to the Slovenian Expo exhibit. The presents will be in the form of promotional cards with instructions and a unique eight-digit number that will allow carriers to access their non-fungible token’s digital wallet and “claim” it.
State Secretary Simon Zajc said”
“Slovenia is thus being presented at EXPO Dubai 2020 as an innovative, digital, and smart destination whose pavilion is certainly worth a visit for its distinctive leafy facade, interesting content, new business opportunities, and the NFTs,”
JPMorgan CEO foresees ten times the growth of Bitcoin in 5 years.
In a recent interview with India Times, Jamie Dimon, JPMorgan’s Chief Executive Officer, acknowledged that he doesn’t care about Bitcoin in response to whether the digital currency should be banned or controlled.
“I don’t really care about Bitcoin. I think people waste too much time and breath on it. But it is going to be regulated. […] And that will constrain it to some extent. But whether it eliminates it, I have no idea, and I don’t personally care. I am not a buyer of Bitcoin.”
Despite the unclear regulatory climate around cryptocurrencies, the banking veteran pointed out that the asset can increase by 10x in the next five years from its current level of trading, despite the widespread scepticism. If the cryptocurrency reaches this price point in the forecasted time frame, it will be worth more than $420,000 and have a market capitalization of more than $8 trillion.
Chainlink Whales purchased $1.45 billion in LINK in a single week, holding 1 to 10 million coins.
Large crypto investors purchased a significant amount of Chainlink (LINK) from “weak hands” last week, according to a tweet by on-chain analytics data firm Santiment. They increased their crypto storage vaults by 3.4 per cent of the entire LINK supply.
Short-term investors began selling off their LINK holdings as the market collapsed, resulting in “weak hands,” according to Santiment, and cryptocurrency whales, who hold between 1 and 10 million LINK in their wallets, got the coins off their hands last week.
On this market-wide slump, whales have acquired a whopping 62.02 million LINK which is the equivalent of $1.45 billion in fiat and represents 3.4 percent of the total Chainlink supply.
🐳🔗 #Chainlink is at a quiet $23.30, but whales have accumulated a TON of $LINK’s supply after weak hands jumped ship following the market-wide dip. Addresses with 1M to 10M $LINK accumulated 62.02M coins worth $1.45B (3.4% of the total supply) last week. https://t.co/egIlgYF77F pic.twitter.com/7eB9eGIFXG
— Santiment (@santimentfeed) September 28, 2021
Chile to launch its digital currency in 2022.
Chile’s central bank has indicated that in 2022, it will decide on a strategy for launching its digital currency. The central bank had announced, which came as other central banks and officials struggled to stay up with cryptocurrencies.
Mario Marcel, the president of Chile’s central bank, gave a speech to legislators. He announced a high-level working group to investigate a medium-term strategy for minting a “digital peso.” This would assist the central bank in meeting the demands of an “increasingly difficult payments business.”
The president of Chile’s central bank told legislators:
“From objectives linked to the needs of the public, financial stability and effectiveness of monetary policy, the Central Bank will define, at the beginning of 2022, a proposal with options and requirements for an eventual issuance of a digital peso in Chile.”
CARDANO to power an Artificial Intelligence Humanoid called Grace
Following the much-anticipated launch of Smart contract integration on the Cardano network, many projects have chosen to build on it. Grace, a humanoid whose creators have chosen Cardano to fuel the robot’s Artificial Intelligence (AI) modules, will be one.
Awakening Health and SingularityNET created Grace to be utilized in both eldercare and general healthcare. According to a blog post by Cardano developers Input Output HK, the bilingual robot can speak English and Korean. It can imitate 48 facial muscles and mirroring a patient’s emotion, abilities that allow it to have meaningful social life interactions with patients (IOHK).
Its connection with Cardano is would improve its performance by reducing the time it takes to process biodata. According to SingularityNET CEO Ben Goertzel, the network will also assist in protecting medical records by making the AI system more secure and private. He clarified,
“In applications like that, the robot needs to deal with medical records on the back end, and it needs to deal with potentially confidential information that elderly folks and medical patients can give her… This really makes use of the security of the Cardano platform.”
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