🌆 Every city will have its own coin.
- 🌆 Every City will have its own coin
- 📈 All Time Highs (ATH)
- 🗂️ Directory
- 👀 Under the Radar
- 📰 ICYM
- 👊 Sponsors
- 💸 Coupons
The Big Apple became the second city in the United States to launch its own cryptocurrency.
The mining of “CityCoins” is done by sending STX tokens, to a smart contract managed by the city. People or investors who send coins become miners. These are rewarded with a percentage (around 70%) of new CityCoins tokens, and the other percentage (30%) goes to a city-managed portfolio to invest in municipal projects.
This financial strategy has the potential to replace taxes as we know them, by creating funds from mining and crypto DeFi protocols.
In the future, citizens will have the option to vote for the financing of different municipal projects, thus creating more democracy.
Miami was the first city in the United States to have its own cryptocurrency using this same model.
MiamiCoin (MIA) is a way for people to support Magic City and grow their cryptocurrency treasure while earning STX and BTC for themselves.
📈 All Time Highs (ATH)
On Wednesday November 10th, Bitcoin reached its all-time high by briefly touching $69k. That same day, Ethereum also broke a record by reaching $ 4,878.26 per Ether.
Most of the rest of the crypto market (alt-coins) has been on the downside ever since as many investors choose to exchange their alt-coins for bitcoins and ethers upon seeing an uptrend in these two cryptocurrencies that reign the market.
Adding to the fuel is the exponential adoption growth that we are witnessing.
At the beginning of 2015 there were about 60 million Bitcoin addresses, today we have close to 900 million bitcoin addresses available. (see below)
It is important to note that institutional money has just started to enter this industry in a massive way. A few days ago the first “Bitcoin Futures ETF” was approved, but many other ETFs are awaiting approval. The world of NFTs (non-fungible tokens) continues to explore new use case and keep attracting large corporations in their effort to jump on the bandwagon and monetize their digital assets. Additionally, it feels like every day a new DeFi protocol hits the market and with improvements and new investment strategies that allows the multiplication of crypto assets.
Another important measure of the speed of change in the market is the amount of bitcoins that is leaving exchanges. As we can see in the lower graph (yellow line) the balance in the exchanges has fallen precipitously in recent months.
Many of these coins are being sent to cold wallets and other to custodians. The cryptocurrency custody market has a great future and promises profits for those who can have an attractive, safe, and profitable custody model for investors and “hodlers.” Conventional banks are betting on custody to be able to enter the industry and recover some of the disadvantage they already have.
👀 Under the Radar
- Kryll — Users can use default trading strategies and create their own Crypto trading strategies in the cloud without the need to know programming. Allowing for the personalization to automation for trading.
- Trac — This decentralized platform allows you to connect digital information with physical information and organize it and mine it to be used effectively. They use and create graphs to illustrate the results of all the information being entered.
- Livepeer — Decentralized video streaming network built on Ethereum. It allows to earn tokens when entering the network and offers computational power so that users can upload, play videos, and facilitate their dissemination.
- Stacks — Blockchain that allows building decentralized applications and smart contracts on the Bitcoin network. Citycoins, a project that has launched Cryptocurrencies for certain cities is based on Stacks.
- Loopring — Seeks to combine the best of centralization and decentralization in the world of crypto finance and transactions. Uses ethereum off-chain transaction execution and roll-ups for faster speeds and lower cost.
- Bitcoin price briefly hits $69K ATH before plummeting back to Earth
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- Is “Shiba Inu” Dead? Whale ‘Gimli’ buys 31 Billion more SHIB Tokens
- China 2.0 — Nigeria Intensifies Major Crypto Crackdown After CBDC Launch
- Is Binance worth $300 Billion?
- Bitcoin Whale Awakens, Moving $148,000,000 in BTC After MIA Since 2013