Elon Musk Dumps $1.1B In Tesla Inventory, NYCCoin Launches With Mayors Blessing And Mastercard Pushes Crypto-linked Playing Cards In Asia: Hodlers Digest, Nov. 7-13

Coming each Saturday, Hodlers Digest will enable you to observe each single vital information story that occurred this week. The superlative (and worst) quotes, adoption and regulation highlights, main cash, predictions and far more per week on Cointelegraph in a single hyperlink.

Top Stories This Week

Crypto markets tag $3T mixed market cap for first time


At the beginning of this week, the mixed cryptocurrency market cap stone-broke $three trillion for the primary time. The market has fluctuated closely this 12 months, beforehand top-hole out at $2.62 trillion in the course of the peak of the bull run in May, earlier than flaming right down to as little as $1.24 trillion in mid-July.

  BITCOIN ADALAH

Elon Musk Dumps .1B In Tesla Inventory, NYCCoin Launches With Mayors Blessing And Mastercard Pushes Crypto-linked Playing Cards In Asia: Hodlers Digest, Nov. 7-13

CoinGeckos cognition tracks 10,418 digital property throughout 518 cryptocurrency exchanges, and the billowy impulse inside the last mentioned half of 2021 comes on the once again of Bitcoin (BTC), Ether (ETH), Polkadot (DOT) and Solana (SOL) all pushing previous new all-time highs.

Bitcoin yet corset the dominant drive in crypto, with its $1.21 trillion market cap being greater than double that of second-ranked Ethereum at $550 billion. Meanwhile, the mixed capitalization of all different crypto property sits at roughly 40%, or $1.24 trillion.

BREAKING: Mastercard launches crypto-linked pegg laying card game throughout Asia-Pacific

On Tuesday, Mastercard introduced that it is going to be launching crypto-linked cost pegg laying card game throughout the Asia-Pacific area that can allow customers to instantly convert their digital property into fiat foreign money.

The pegg laying card game are being launched together with three crypto service suppliers: Amber Group and Bitkub in Thailand, and CoinJar in Australia. Mastercard hasnt defined what crypto property can be supported at this stage even so did trace that Bitcoin and Ether could get on the prime of the checklist.

Rather than directly transferring cryptocurrencies to a merchant, cardholders will now be able to instantly convert their cryptocurrencies into traditional fiat currency which can be spent all over Mastercard is accepted around the world, both online and offline, Mastercard mentioned.

NewYorkCityCoin launching this week with Mayor-elect Eric Adams blessing

NewYorkCityCoin (NYCCoin) launched on Thursday, with Mayor-elect Eric Adams giving the coins issuers, CityCoins, a public endorsement forward of the rollout. Adams accognitiond final week that he wished to have a CityCoin for NYC that mirrors Miamis MiamiCoin.

While Adams welcomed the challenge to New York this week, CityCoins has but to formally companion with the native regime. It power wish to accomplish that quickly, yet, because the NYCCoin challenge will divert 30% of its mining rewards to a custodied reserve pockets that the native regime can use to assist regardless initiatives it chooses.

Were glad to welcome you to the global home of Web3! Were reckoning on tech and innovation to help drive our city forward, Adams mentioned.

Elon Musk offmountain $1.1B in Tesla inventory

According to filings with the U.S. Securities and Exchange Commission, erratic billionaire and Tesla CEO Elon Musk offloaded greater than 934,000 Tesla shares value round $1.1 billion on Thursday.

Musk made round a 180% reach on his bought shares with a mean sale worth of round $1,170, marking his largest hearth sale of Tesla inventory to this point. The CEO had excited a possible sale over the weekend after polling his 63 million Twitter following about whether or not he ought to promote 10% of his Tesla inventory. The vote was in response to public pushback towards billionaires who power or power not have paid their excusable share of tax.

This sale alone accounted for 1% of Musks holdings, and the filings present that he deliberate to promote the inventory as a part of his tax obligations once again in September. The world now awaits if he'll promote one other 9% to appease the 58% of respondents who voted yes to his vote.

Zimbabwe will be the ulterior nation to embrace Bitcoin as authorized tender

Zimbabwes regime was reported to be exploitation Bitcoin as a authorized tender to fulfill rising demand inside the nation, in response to native information retailers.

The information, reported on Nov. 7, prompt that discussions with native companies are already underway. Retired Brigadier Colonel Charles Wekwete, everlasting secretary and head of the e-government know-how unit inside the work of the president and cupboard, was confirmed because the supply of the hypothesis.

A few days later, yet, information in addition surfaced that Zimbabwe was not quest to undertake Bitcoin by any means, and was instead exploring central commercial enterprise institution digital currencies (CBDCs). Zimbabwes minister of data, Monica Mutsvangwa, had the unlucky job of quashing the rumors and offering a significant buzzkill for Bitcoin maxis.

Winners and Losers

At the tip of the week, Bitcoin (BTC) is at $63,185, Ether (ETH) at $4,577 and XRP at $1.17. The whole market cap is at $2.75 trillion, in accordance to CoinMarketCap.

Among the most important 100 cryptocurrencies, the highest three altcoin gainers of the week are Loopring (LRC) at 100.64%, Kadena (KDA) at 99.70% and Livepeer (LPT) at 80.35%.

The prime three altcoin losers of the week are OMG Network (OMG) at -25.57%, Arweave (AR) at -16.86% and Cosmos (ATOM) at -15.68%.

For extra information on crypto costs, be sure that to learn Cointelegraphs market evaluation.

Most Memorable Quotations

For the second time in five months, we declared the seizure of digital issue of ransomware deployed by a multinational criminal group. This will not be the last time the U.S. government will continue to sharply pursue the entire ransomware ecosystem and increase our nations resilience to cyber threats.

Merrick Garland, U.S. legal professional normal

If Apple were to add support for #Bitcoin to the iPhone and convert their treasury to a Bitcoin Standard, it would be worth at to the last degree a trillion dollars to their shareholders.

Michael Saylor, CEO of MicroStrategy

The crypto community is ambitious, daring and full of potential. Innovation is about synergy. Its beyond technology and about people. Its about us.

Kristina Corn, editor-in-chief at Cointelegraph

I believe that in the next three to five years, the DeFi industry will grow massively. Its already growing rapidly, but the advantages of peer-to-peer technologies can and will be more wide experienced.

Anton Bukov, co-founder of 1inch Network

If the results of this development phase conclude that the case for CBDC is made, and that it is operationally and technologically robust, then the earliest date for launch of a U.K. CBDC would be in the last half of the decade.

The Bank of England

We are taking a high degree of revolve around issues encompassing the security of personal information and the digital yuan and have made in dispute regulative and technological adjustments to meet this objective. We have adopted a principle of anonymity for small proceedings regarding the digital yuan and will only step in to regulate under the law for large proceedings. When it comes to assembling personal data, we seek only to collect what is necessary and the minimum of what is de jure required, which is far to a little degree electronic defrayment apps of today.

Yi Gang, Peoples Bank of China governor

It is not reasonable to build a commercial enterprise system that demands investors also be sophisticated interpreters of complex code.

Caroline Crenshaw, U.S. Securities and Exchange Commission commissioner

Crypto is becoming cultural, its becoming cool. [] It accustomed be that if you were investment in crypto, you were rather weird.

Cuy Sheffield, head of crypto at Visa

Prediction of the Week

Bitcoin to hit $250Okay in January 2022 even so invalidate S2FX BTC worth mannequin New prediction

Digital foreign money analyst Matthew Hyland not too lang syne tweeted his ideas about Bitcoins potential future worth motion. In brief, his multi-tweet write-up in essence defined his prediction that BTC will surpass $100,000 on its solution to $250,000, corroborative one widespread worth mannequin and disconfirming one other.

The Stock-to-Flow (S2F) and Stock-to-Flow Cross-Asset (S2FX) worth fashions, constructed by PlanB, a onymous Twitter persona recognized for his Bitcoin evaluation, every have worth targets of future relevancy. December 2021 ought to spigot right into a BTC worth of no to a little degree $100,000 per coin, in response to the S2F mannequin. The S2FX mannequin notes a worth expectancy of round $288,000 per BTC earlier than the ulterior halving, which ought to happen in 2024.

The worth fashions are primarily based round Bitcoins block reward halving cycles. Bitcoin halvings happen each 210,000 blocks which takes about 4 years. The time in between is the halving cycles.

Essentially, Hyland thinks BTC will preserve tempo with the S2F mannequin in striking $100,000, even so the plus will alone attain about $250,000 in the course of the current halving cycle (concluding in 2024) the results of large gamers promoting early earlier than $288,000. Big gamers will possible get retail buyers hyped for BTC after $100,000 is reached consistent with the S2F mannequin, in response to Hyland, main these mainstream of us to look ulterior towards the $288,000 worth goal of the S2FX mannequin.

This week produced notable pleasure inside the Bitcoin worth class. The plus turned in a brand new all-time excessive just under $69,000 earlier than falling barely under $63,000, all on Wednesday, in response to Cointelegraphs BTC worth index.

FUD of the Week

Nigerias central commercial enterprise institution reportedly freezes crypto merchants accounts

The Central Bank of Nigeria (CBN) was reportedly egg laying on the FUD this week after it ordered native industrial Banks to freeze accounts tied to no to a little degree two crypto merchants. The CBN prohibited Banks from service native crypto exchanges over issues of volatility, cash laundering and violent act financing.

Local media outlet Peoples Gazette reported the information on Nov. 7, stating that CBNs director of banking supervision, J.Y. Mammanand, laid down the regulation, guiding his commercial enterprise institution to close the naughty crypto merchants accounts and transfer their finances to suspense accounts.

The crackdown is reportedly a part of a broader transfer from banking regulators to right away shut the accounts of Nigerian residents or corporations transacting in or operative cryptocurrency exchanges utilizing native Banks, as CBN execs suppose that all but all of those proceedings are nefarious.

Coinbase shares to open decrease after 75% drop by net earnings in Q3

Coinbase (COIN) shares promptly unfit round 13.1% in after-hours buying and merchandising following the discharge of underwhelming third-quarter medium of exchange outcomes on Thursday. The agency posted $1.235 billion value of income in Q3, falling nicely under FactSets estimates of $1.614 billion.

The agencys income equated to $406 million, which marked a 74.7% lower in comparison with the second quarter even so did beat analysts expectations of $380 million. Coinbase in addition reported earnings of $1.62 per share, which got here in 10% in need of the consensus estimate. The agency seemed to be unfazed by the outcomes, and the report highlighted that Coinbase is targeted on the long run.

Coinbase is not a quarter-to-quarter investment, but rather a long-term investment in the growth of the crypto economy and our power to serve users through our products and services. We encourage our investors to take this point of view, the report learn.

Beeples Discord compromised, regular to coincide with Christies public sale

An admin account for Beeples official Discord channel was hacked on Wednesday, leading to a faux NFT drop being promoted to the group that detected customers duped out of an estimated 38 ETH.

An admin account with the deal with Multi confirmed to the group on Wednesday that their account had been compromised regardless of having two-factor authentication settings switched on. The hacker went on to impersonate an admin and the Beeple Announcements Bot, and promote a faux and cheap NFT drop from Beeple on Nifty Gateway.

The members of the group have been anticipating an low-priced NFT drop to be launched on the once again of Beeples most up-to-date $29 million public sale, because the artist has dead such a factor earlier than to cater to all audiences. However, not alone did the members partake a faux drop, they didnt even obtain any NFTs for his or her bother.

Best Cointelegraph Features

Meme tokens and dogcoins flood the market as worth wars warmth up

Latinx communities are driving ahead adoption, as crypto is confirmed to fulfill their many wants in a means that conventional finance can't.

Blockchain metaverse startups: Unparalleled funding potential

Think of how important the web is to on a regular basis life now thats what the Metaverse power grow to be in mountain much less time than the web did.

Crypto children struggle Facebook for the soul of the Metaverse

The Metaverse doesnt start in virtual reality it starts with possession of pluss, [the] power for anyone to create and trade value.


Elon Musk Dumps $1.1B In Tesla Inventory, NYCCoin Launches With Mayors Blessing And Mastercard Pushes Crypto-linked Pegg laying Cards In Asia: Hodlers Digest, Nov. 7-13

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