[Digital Today Reporter Hyeon-woo Choo] Recently, as a weak market for virtual assets has been produced, non-fungible tokens (NFT) are emerging as a new issue maker instead of cryptocurrencies such as bitcoin. Along with decentralized finance (DeFi), more and more people are paying attention to NFT as a potential blockchain application case.
In the midst of this, Chris Dixon, general partner of Andressen Horowitz, one of Silicon Valley’s leading venture capitalists, draws attention to NFT from a creator economy perspective in a recent article. He positively saw that the use of NFTs opened up opportunities for producers to directly pursue profits without relying on intermediaries (platforms).
Virtual asset application services are also steadily continuing. HGreg, a used car chain that operates more than 30 dealerships in the US and Canada, supports payment of virtual assets. It is now possible to purchase a used car with bitcoin.
Brave Browser, which also provides Basic Attention Token (BAT), a virtual asset project, is also expanding its market base through continuous updates.
Gary Gensler, who was nominated as the chairman of the Securities and Exchange Commission (SEC) after the inauguration of the US Biden administration, revealed his personal position on virtual assets (cryptocurrency).
Nominee Garry Gensler attended the US Senate’s ratification hearing and said, “We expect that virtual assets will serve as a catalyst for change for digital financial transformation,” and, “It is essential to supplement the appropriate institutional mechanisms to protect investors. Showed a view.
The mayor is in a situation where he interprets his remarks positively.
For two days on the 4th and 5th, China held the two meetings, the largest political event in China, the National People’s Congress and the National People’s Political Negotiation Conference. It is reported that the digital yuan, a digital currency issued by the People’s Bank, has risen on the agenda at both meetings.
However, although the need for digital comfort may be emphasized in both sessions, it does not seem easy to adopt it early or lead to official publication. The Chinese government still maintains a cautious approach to the issuance of digital yuan.
As the virtual asset market showed a bearish market, the stock price of Micro Strategy, a business intelligence (BI) software company that attracted attention by actively purchasing bitcoin as a NASDAQ-listed company, fell to half within a month or so.
On the other hand, Cardano’s native token, Ada, currently ranks third in the cryptocurrency market cap ranking after Bitcoin and Ethereum. Ada’s price has jumped more than five times this year alone. The market capitalization of Ada is $40 billion and Ethereum is about $178 billion.
Goldman Sachs, a large US investment bank, released the results of a customer survey on the market of virtual assets (cryptocurrency) including Bitcoin. 22% of respondents predict that Bitcoin will rise by more than $100,000 within a year. 54% expected it to go up and down between $40,000 and $100,000. This is a result of reflecting the perception that the long-term investment value is still high despite the recent bearish market.
Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.