• News
    • Stocks
    • Banks and Finance
    • Companies
    • Crypto
    • Forex
  • Videos
  • Articles
    • Forex CRM
    • Crypto Payments
    • Trading
    • Crypto Exchange Business
    • Forex Business
    • Fintech
    • Liquidity
    • FinTech Awards
  • Liquidity Providers List
  • Crypto Payment Providers

Dark Theme

Cryptocurrencies Brace For Winter, Virtual Adidas And a Bitcoin City

Nov 30, 2021

Cryptocurrencies Brace For Winter, Virtual Adidas And a Bitcoin City

Cryptocurrencies survived one of the largest market shocks since the earliest days of the pandemic last week, with El Salvador a notable dip buyer, while investors decided not to share Adidas' excitement over a foray into the buzzy metaverse.

El Salvador's aspirations to establish the world's first "Bitcoin City," as well as Adidas' participation, were the only bright spots for digital assets in the week that saw major cryptocurrencies hammered by worries about the new coronavirus strain Omicron.

Bitcoin was down 0.5 percent on Monday, and it has lost nearly 17 percent of its value since hitting a high of $69,000 19 days ago. However, competitor cryptocurrency ether, as well as tokens related to the metaverse and decentralized finance apps, have performed better.

Adidas' decision made ripples after the German sportswear store announced in a tweet that it was working with Coinbase Global Inc, however Adidas stock did not participate in the celebration.

The German firm also purchased a piece of virtual land dubbed "adiVerse" in the blockchain-based environment The Sandbox, implying that it will develop it to provide virtual reality items, and this comes as it has warned of a sales impact owing to supply chain bottlenecks.

"That's significant because it foreshadows what will be available in the NFT sector in a few months: Adidas sneakers and other branded virtual garments, shoes, and items," said Ipek Ozkardeskaya, senior analyst at Swissquote.

According to CoinGecko, the price of SAND, a virtual currency used to buy real estate and other commodities, increased by 90% to $7.18 on the announcement, giving it a second surge since Facebook renamed to Meta Platforms Inc late last month.

MANA, the speculative currency used in Decentraland, the premier blockchain-based online realm, jumped 36% to $4.90. Non-fungible tokens are used to sell land and other goods on Decentraland (NFTs).

Apart from the selloff sparked by the revelation of Omicron, the largest headwind for bitcoin and ether last week came from an Indian government announcement of a plan that would prohibit most private cryptocurrencies transactions by the country's estimated 15 million to 20 million crypto investors.

SURVIVE WINTER

On Indian platform WazirX, bitcoin traded at roughly 4,376,477 Indian rupees ($58,296.12), a slight premium to prices outside the nation, reversing a 15% discount on Tuesday after the announcement.

"If it's a blanket ban, along with China, you're talking about two-thirds of the world's population effectively shutting out of crypto," said Simon Peters, eToro's crypto analyst.

El Salvador's president announced intentions to establish the world's first "Bitcoin City," with bitcoin bonds as the initial funding source. In September, El Salvador made bitcoin legal tender.

According to statistics from CryptoCompare, average daily trading volumes across all digital asset product types declined by 13% from October to November 19, while net inflows were $203 million, half of what they were in October.

While bitcoin-related assets under management fell 9.5 percent to $48.7 billion in the first three weeks of November, the highest month-over-month drop since July, assets in ether products climbed 5.4 percent.

In the 30 days leading up to November 19, the decentralized finance token Solana (SOL) and Litecoin-based products returned 22.0 percent and 14.9 percent, respectively, with daily trading volume in the 21Shares Solana ETP nearly doubling to $6.3 million, according to CryptoCompare.

On Nov. 23, a piece of Decentraland virtual real estate sold for a record $2.4 million in bitcoin, according to the buyer - crypto investor Tokens.com - and Decentraland.

Meanwhile, many predict that the upcoming December holiday season will exacerbate volatility, while the US Federal Reserve's stimulus reduction would be negative for bitcoin.

"There should be more agnostics concentrating on the fact that we are in a horrible portion of the crypto cycle right now - the corrections may be epic," said Brent Donnelly, head of market intelligence firm Spectra Markets.

Subscribe Our Newsletter

BioNTech, Pfizer Vaccine Neutralises Omicron With Three Shots
BioNTech, Pfizer Vaccine Neutralises Omicron With Three Shots

BioNTech and Pfizer stated on Wednesday that a three-shot course of their COVID-19 vaccine was able to neutralize the new Omicron type, and that an improved vaccination may be delivered in March 2022 if required.

Companies
Alibaba Stock Price Target Cut Again as More Analysts Smile on Rival JD.com
Alibaba Stock Price Target Cut Again as More Analysts Smile on Rival JD.com

Following a year of regulatory pressure and, more recently, abysmal quarterly results, Alibaba stock has been facing a reevaluation by Wall Street.

Companies
Oliver

How Does a Liquidity Pool Work in Crypto?
You've undoubtedly heard the term "cryptocurrency liquidity" a lot in the last year or two. But what exactly does it mean? In essence, it is the capacity to rapidly and easily acquire and trade cryptocurrency. All exchanges strive for high liquidity, although it is not always simple to attain. This is where cryptocurrency liquidity pools come in.

discover
How to Accept Crypto Payments as a Business

Oliver

How to Accept Crypto Payments as a Business

During COVID-19 pandemic, global cryptocurrency usage reached an astonishing half a billion users. Due to this fact, many businesses, entrepreneurs, and even major institutions have begun to explore how to accept cryptocurrency payments.

Crypto Payments

Contact Us

Contact the Liquidity Provider
for any questions and advertising inquiries b2broker

    Please fill out this contact form to get in touch with us

    / 3000

    By clicking “Get in touch” button, you agree to the privacy policy

    Alexander

    Full Bitcoin Price History: From 2009 to 2022

    https://liquidity-provider.com/app/uploads/2023/01/cover-11-300x203.png

    Constantine

    Top 5 Most Reliable KYC Technology Providers

    https://liquidity-provider.com/app/uploads/2023/01/cover-10-300x203.png

    Alexander

    The Best Crypto Wallets of 2022: Top 5 Picks

    https://liquidity-provider.com/app/uploads/2023/01/cover-2-300x203.png

    Alexander

    Top 5 Most Reliable Forex Brokers of 2022

    https://liquidity-provider.com/app/uploads/2023/01/cover-1-300x203.png

    Constantine

    5 Top-Tier Breakthrough Trading, Crypto and Fintech Industries Software Solutions in 2022

    https://liquidity-provider.com/app/uploads/2023/01/cover-300x203.png

    Constantine

    5 Most Successful FinTech Industry Startups in 2022

    https://liquidity-provider.com/app/uploads/2022/12/cover-300x203.png

    Constantine

    Top 7 Liquidity Providers of 2022

    https://liquidity-provider.com/app/uploads/2022/12/liquidity-provider-3-300x203.png

    Alexander

    Top 5 Crypto Exchanges of 2022

    https://liquidity-provider.com/app/uploads/2022/12/liquidity-provider-1-300x203.png

    Constantine

    Top 5 Most Distinguished White Label Solutions in 2022

    https://liquidity-provider.com/app/uploads/2022/12/liquidity-provider-2-300x203.png

    Constantine

    What is Crypto Leverage Trading And How Does It Work?

    https://liquidity-provider.com/app/uploads/2022/12/oblozhka-5-300x203.png

    Constantine

    Top 5 Most Prospective Tokens in the Metaverse.

    https://liquidity-provider.com/app/uploads/2022/12/cover-7-300x203.png

    Constantine

    How to Mine Bitcoins? – Beginners Guide

    https://liquidity-provider.com/app/uploads/2022/11/cover-5-300x203.png

    Oliver

    Blockchain for Business. Pros & Cons

    https://liquidity-provider.com/app/uploads/2022/11/oblozhka-1-300x203.png

    Constantine

    The Future of Stablecoins and Central Bank Digital Currencies (CBDCs)

    https://liquidity-provider.com/app/uploads/2022/11/cover-3-300x203.png

    Alexander

    What is Web 3.0 and Why Does it Matter?

    https://liquidity-provider.com/app/uploads/2022/11/cover-1-300x203.png

    Constantine

    5 Benefits of Accepting Crypto Payments for Your Business

    https://liquidity-provider.com/app/uploads/2022/11/cover-300x203.png

    Constantine

    Hot Wallet vs Cold Wallet: Which Do I Need More for Crypto?

    https://liquidity-provider.com/app/uploads/2022/11/oblozhka-5-300x203.png

    Alexander

    What is Hedging and How Does it Work in Trading? — Ultimate Guide

    https://liquidity-provider.com/app/uploads/2022/10/oblozhka-4-300x203.png

    Oliver

    Pre-execution vs Post-execution: What’s the Difference?

    https://liquidity-provider.com/app/uploads/2022/10/oblozhka-1-300x203.png

    Constantine

    What is Slippage in Trading? – Definition

    https://liquidity-provider.com/app/uploads/2022/10/shapka-1-1-300x203.png

    Oliver

    How Forex Brokers Make Money? – A-Book vs. B-Book Model

    https://liquidity-provider.com/app/uploads/2022/10/shapka-2-300x203.png

    Oliver

    What is the Ethereum Merge, And How Will it Change Ethereum?

    https://liquidity-provider.com/app/uploads/2022/10/shapka-1-300x203.png

    Alexander

    How to Spot Cryptocurrency Scams

    https://liquidity-provider.com/app/uploads/2022/10/shapka-300x203.png

    Milena

    Exploring the Metaverse: What Does It Mean for the Future of the Internet?

    https://liquidity-provider.com/app/uploads/2022/10/oblozhka-300x203.png
    • News
      • Stocks
      • Banks and Finance
      • Companies
      • Crypto
      • Forex
    • Articles
      • Forex CRM
      • Crypto Payments
      • Trading
      • Crypto Exchange Business
      • Forex Business
      • Fintech
      • Liquidity
      • FinTech Awards
    • More
      • Videos
      • Liquidity Providers List
      • Crypto Payment Providers
    [email protected]

    © 2023 Liquidity Provider. All Rights Reserved

    Privacy Policy Cookie Policy