Genesis Trading Sees ‘Strong Signs’ of Institutional Crypto Investment Growth Accelerating Next Year

Genesis Trading Sees 'Strong Signs' of Institutional Crypto Investment Growth Accelerating Next YearGenesis Trading’s head of market insights says that the institutional investment growth in the crypto space over the last 12 months “has been astonishing.” The executive added: “We’re seeing strong signs of that accelerating over the next year.” Strong Signs of Institutional Investment Growth Accelerating Next Year Noelle Acheson, head of market insights at Genesis […]

Solana Trades Up 15.7%, But Network Issues Raise Concerns

Solana (SOL) traded 15.7% up and lead gains earlier as the crypto market started to see the green zone, recovering from the total cap value dropping to $2,1 trillion, now at $2,2 trillion, a 5% increase in 24 hours. As several altcoins from the top 100 savor the upswing, it’s a polarized day for Solana’s popularity as the network saw major congestion issues that might put down price expectations for 2022. A few days ago SOL saw a two-month low of around $150, but losses are in reverse in the past 24 hours. The digital coin went up as much as $188, a 15.7% daily growth. Solana’s market cap value grew from  $51.17 billion to $56.76 billion during the period (adding $5.59 billion). In terms of competition for the top 5 cryptocurrencies by market cap, Solana took the win while Ethereum surged around 4%. Cardano climbed 3% and Avalanche, on the other hand, is also seeing growth surging 15% in 24 hours after announcing native support for USD Coin (USDC), swinging up above the $100 mark. Related Reading | Solana Could Become The Next Bitcoin, According To FTX’s Sam Bankman-Fried   Solana, The Cool Kid On The Block? As Solana grows in popularity surrounded by mainstream projects, crypto users at CoinMarketCap shared positive estimates of the median price for the end of the year: 20,490 people think SOL will be closing the year trading around $185. However, the community is predicting a downside starting 2022 to $171, then lower to $168 by the end of February. What are they seeing? The cool kid from the block is having trouble at home and the followers are concerned. The network experienced more technical troubles with a large amount of failing transactions: over 2000 per second, more than 60% of the total volume, some have speculated. Several investors and developers have expressed skepticism and frustration on social media. Some see the glitchy scenario as a sign to step back as it does not provide trust and also fails to meet with the blockchain’s promise of high efficiency. Related Reading | How Solana Was Brought Down By This dApp Launch Solana has more troubled moments to mention. The first one was back in September with a 17-hour network outage. Then, during this month alone, on December 9th the network reportedly suffered a distributed denial-of-service (DDoS) attack which also resulted in delayed transactions. Clarity wasn’t the top priority at the time. The first tweet to mention the DDoS attack was deleted, then the infrastructure firm GenesysGo reported the issue but claimed it was due to “growing pains”. And on December 13th, a Solana-based NFT debut (SolChicks) announced that “CHICKS HAVE TAKEN DOWN SOLANA.”: We apologize for the inconvenience of this delay but tens of thousands of people are trying to buy $CHICKS and the Raydium server has crashed. It appears SolScan is also not loading our contract address right now either. However, Solana’s price has not seen investors fear since the last failure of transactions happened –at least not beyond the low prediction from the CoinMarketCap community. Is the hype stronger than the issues? The rise of Solana has seen big investors as backers (like Sam Bankman-Fried, Andreessen Horowitz, and Polychain) and a large number of projects with big names, especially in the gaming and NFT sectors. If the blockchain’s transactions are not fast enough sometimes, their marketing is. For example, basketball giant Michael Jordan just announced a platform for athletes called HEIR, which is based on Solana. This mainstream event was believed to carry SOL’s price up. Will popularity be enough for the future of the blockchain?

Institutional Investors Expect Major Correction in Crypto Market Next Year

Institutional Investors See Crypto Market as the Top Contender for Major Correction in 2022Many institutional investors are predicting a major correction in the cryptocurrency market next year, a survey published by Natixis Investment Managers shows. Despite seeing crypto as the top contender for a major correction, institutional investors are increasingly warming up to the asset class. Institutional Investors See Crypto as Top Contender for Major Correction Natixis Investment […]

Alternative Investments Like Crypto Form Half of Russian Non-Qualified Investors’ Portfolios

Alternative Investments Like Crypto Form Half of Russian Non-qualified Investors’ PortfolioInvestments in alternative assets such as cryptocurrencies account for over half of the portfolio of non-qualified Russian investors, a recently held survey has indicated. Almost half of them consider digital currencies like bitcoin as a potential hedge. Cryptocurrencies Outperform Traditional Currencies and Stocks in Russia Alternative investments like crypto, real estate, and antiques constitute more […]

Annual Volume of Crypto Transactions Made by Russians Reaches $5 Billion, Bank of Russia Finds

Annual Volume of Crypto Transactions Made by Russians Reaches $5 Billion, Bank of Russia FindsWith the growing capitalization of the crypto economy, Russians have been making crypto transactions worth billions of dollars a year, data gathered by the Central Bank of Russia shows. Russian residents are some of the most active participants in the crypto market, the regulator has acknowledged. Russians Among Most Active Crypto Users, Central Bank Admits […]

Hong Kong Company Onedegree to Offer Insurance for Cryptocurrencies

Hong Kong Company Onedegree to Offer Insurance for CryptocurrenciesOnedegree, a virtual insurer based in Hong Kong, will provide insurance services for digital assets as part of a partnership with a local cryptocurrency exchange. By working together, the two firms hope to alleviate concerns discouraging potential investors from entering the crypto market. Onedegree to Underwrite Insurance Policies for Crypto Assets Hong Kong has several […]

Russia, US in Top 3 for Crypto-Related Threats, Cybersecurity Report Unveils

Russia, US in Top 3 by Crypto-Related Threats, Cybersecurity Report UnveilsThreats related to cryptocurrency have followed prices, decreasing significantly after the market slump in May, suggests a recent report released by a leading internet security firm. Detections fell by almost a quarter but Russia remains the most affected country, with the U.S. ranking in the top three as well. ESET: 1 in 10 Crypto-Focused Threats […]