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Crypto Flipsider News – MATIC Sets ATH, Uniswap Launch on Polygon, Europes’ Largest Telecoms Buys DOT, Crypto Fund Hits $63 Billion, Crypto.com Gets Super Bowl Airtime, NFT Gaming Record Revenue
Crypto Flipsider News – MATIC Sets ATH, Uniswap Launch on Polygon, Europes’ Largest Telecoms Buys DOT, Crypto Fund Hits $63 Billion, Crypto.com Gets Super Bowl Airtime, NFT Gaming Record Revenue
Read in the Digest
- Europe’s Largest Telecoms Company Becomes a Polkadot (DOT) Validator
- Crypto Funds Bloom in 2021, Worldwide Crypto Funds Hit $63 Billion
- Crypto.com Gets Super Bowl Airtime, Justin Sun’s Blue Origin Space Trip
- NFT Gaming Sets Record Revenue in Q3, Bored Ape Yacht Club NFTs Displaces CryptoPunks
MATIC Soars as Uniswap Launches on Polygon, Opera to Integrate Polygon
Polygon season continues as the project finds even more use cases. Ending the year in style, on December 23, Uniswap V3 launched on the Polygon network after a successful proposal vote got the support of more than 72 million Uniswap (UNI) token holders.
Users of Uniswap, the largest decentralized exchange in the market, can now swap tokens using the Polygon blockchain via Uniswap’s official interface. In addition, Opera has announced a new partnership with Polygon.
Opera hopes to integrate Polygon in the first quarter of 2022. The integration will ensure that opera users access about 3000 dApps on the Polygon network. They will also enjoy a Web3-ready browser and an in-built crypto wallet on Android.
MATIC, Polygon’s native token, rallied following the announcement, setting a new all-time high at $2.70. MATIC has gained more than 14,400% year to date, making it one of the best performing cryptos of 2021.
The three months price chart of Polygon (MATIC). Source: Tradingview
Flipsider:
- Polygon has been a target for hackers, with $31 million recently stolen from MonoX on the network
Why You Should Care
Polygon’s strong performance can be linked to its unique solution to one of the major problems that have plagued the Ethereum blockchain since its launch, scaling.
Europe’s Largest Telecoms Company Becomes a Polkadot (DOT) Validator
Deutsche Telekom AG (DE:DTEGn), the biggest telecommunications company in Europe, has announced purchasing a significant amount of Polkadot (DOT) tokens through one of its subsidiaries.
Along with the purchase, the telecom giant, which provides infrastructure support for Chainlink, Dapper Labs, and Celo, has become the latest node validator of Polkadot. Deutsche Telekom (OTC:DTEGY) AG revealed it will be staking the DOT purchased on its behalf.
In an interview, Andreas Dittrich, head of Deutsche Telekom’s Blockchain Solutions Center, explained;
“Like we did before with Celo, we are also investing in DOT tokens to be able to participate in the governance of the network and basically put our money where our mouth is to support our infrastructure case.”
Flipsider:
- Deutsche Telekom AG invests in Polkadot at a time when the DOT token has lost more than 50% of its ATH value
Why You Should Care
Dittrich explains that blockchains like Polkadot provide many use cases for emerging industries and the good old supply chains.
Crypto Funds Bloom in 2021, Worldwide Crypto Funds Hit $63 Billion
Among the defining moments in what has been a spectacular year for the crypto industry was the debut of a ProShares fund tracking Bitcoin futures. Not only did it open the way for various other funds to be launched, but it also allowed more investment to come in.
According to new intelligence data, the value of assets held in worldwide crypto funds now stands at $63 billion, compared to the $24 billion at the start of the year. This coincides with the steady inflow from institutions throughout 2021.
In addition, the number of crypto-tracking investment vehicles worldwide has more than doubled in 2021. At the start of the year, there were just 35 funds, compared to the 80 crypto-related funds available to investors today.
Flipsider:
- Despite the increasing number of futures, regulators have rejected applications for a spot ETF that will give investors direct exposure to crypto.
Why You Should Care
Investors consider the increasing number of ETFs to be a step in the right direction in the journey to mainstream adoption of cryptocurrencies.
Crypto.com Gets Super Bowl Airtime, Justin Sun’s Blue Origin Space Trip
Leading crypto service provider, Crypto.com is seeking to become a top consumer brand with an ad on the biggest stage. The Singapore-based cryptocurrency platform will run its first Super Bowl commercial in the 2022 event holding on February 13.
According to the reports, the cost of running a 30 seconds ad at Super Bowl LVI is $6.5m. The crypto service provider has focused on publicity, including the recent $700 million paid for a 20-year deal giving Crypto.com naming rights on the Staples Center.
Flipsider:
- UK’s advertising regulator has banned Arsenal football club’s fan token ad for violating its laws
Crypto pioneer and founder of TRON, Justin Sun, has announced that he will be on the Blue Origin space trip. Sun revealed he was the anonymous bidder who won the $28 million auction for a seat to join Jeff Bezos on the first crewed mission in July 2022.
Sun revealed that he will select five “space warriors” to join him in realizing a childhood dream by journeying into space. These people will have “special status” in crypto, technology, and art.
Why You Should Care
Cryptocurrencies and crypto firms are steadily finding new use cases, a sign of increasing adoption.
NFT Gaming Sets Record Revenue in Q3, Bored Ape Yacht Club NFTs Displaces CryptoPunks
In 2021, the gaming industry became one of the biggest adopters of non-fungible tokens. As NFTs found increasing usage in games, their revenue for the gaming industry in Q3 of 2021 hit a record $2.32 billion.
According to a report published by the Blockchain Gaming Alliance, the gaming industry accounted for more than 22% of the $10 billion trading volume of the NFT sector in Q3. It adds that the industry recorded a “6,566% increase in daily unique active wallets.”
Flipsider:
- Over the last few months, the price CryptoPunks has fallen steadily, and now for the first time ever, the floor price (the lowest price) of CryptoPunks is lower than the Bored Ape Yacht Club
- With the floor price of a BAYC NFT at 53.9 ETH ($215,350), it is now slightly above a CryptoPunk NFT, which is currently 52.69 ETH ($210,515).
Why You Should Care
NFTs have found a safe haven in the gaming industry where microtransactions and in-game purchases have created a multi-billion dollar sector.
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