Crypto Market Overview December 16th | Dex-Trade

Crypto Market Overview December 16th | Dex-Trade

Crypto Market Overview – December 16th, 2021

 

Ethereum Becomes New App Store: Bold Forecast by Microsoft's Yorke Rhodes

Microsoft's director of digital transformation, Yorke Rhodes, shared his prediction that Ethereum will become a decentralized app store by 2023, as its blockchain tends to scale and has been actively reformed over the past years. Trustnodes reports. According to Rhodes, in addition to the rapid development of Ether, he has several other aces up his sleeve, the key of which he considers are low transaction fees on the network (here he kind of says hello to Tim Cook from Apple) and decentralization, which allows all users to receive services on an equal basis. In terms of fees, Ethereum is truly one step ahead of many existing digital store placement options. Compared to the same Apple, which has chosen the tactic of sharing the proceeds from the acquisition of applications with the copyright holders, the blockchain of crypto silver will allow to buy them, paying a standard transaction fee. But about decentralization and related hypothetical problems with the system load, not everything is so simple. Obviously, it will be necessary to develop an accessible infrastructure for the autonomous store operation on the blockchain. And this fact brings Rhodes' forecast closer to desires than to specific goals. At least in the short term.

Kraken CEO's $100,000 BTC Forecast by The End of The Year Had to Be Slightly Changed

In an interview with Bloomberg Technology, the CEO of the Kraken crypto exchange, Jesse Powell, said that he no longer expects Bitcoin to be worth $100,000 in late 2021 and early 2022, as he predicted back in August. But Powell believes that although a "crypto winter" is possible, it will most likely be able to get by with fewer sacrifices. In particular, he said that as soon as BTC drops below $40,000, investors and traders will intensively buy the asset, which will allow it to get out of the protracted bearish trend. However, the businessman's most memorable comment on the interviewer's mention of his previous predictions was the phrase "It’s hard to know where it [BTC] goes." Powell is clearly optimistic about crypto-gold and is confident that buying it in any case can be considered a good investment, however, for a period of about 5 years. It is important to understand that the CEO of the crypto exchange is far from the only prominent analyst who predicted Bitcoin's rise to $100,000 by the end of this year. Anthony Pompliano, co-founder of Morgan Creek Digital Assets, Anthony Scaramucci, CEO of SkyBridge Capital, and several other influential businessmen held the same position.

UK Advertising Watchdog Continues to Block Promotions of Crypto Companies

The Advertising Standards Authority (ASA) of Britain has ruled to ban advertising campaigns from eToro and Coinburp trading platforms, crypto exchanges EXMO, Luno, Kraken, Coinbase and even promotions from pizza chain Papa John's due to consumers' ignorance of their “complex and volatile products.” However, the ASA did not ascribe any fines to the violators and decided to write them warnings that in the future their advertising should explain to consumers in detail the risks associated with investing in digital assets and the lack of government support for these investments due to the absence of a specialized regulator of crypto markets in the UK. The country's Advertising Standards Authority has already reported that regulating promo-crypto companies is a priority for the organization. Specialists of the government agency are actively monitoring advertising of digital assets and are developing a number of measures to regulate advertising of fan-tokens and NFTs in 2022.