More than 40 countries have taken aim at advancing crypto-focused regulations and legislation this year, signaling wider cryptocurrency adoption globally may be underway. That’s according to a new report from professional services firm PriceWaterhouseCoopers.
Stellar, PwC publish ‘framework’ to judge emerging market blockchain projects
Stellar Development Foundation published a method for judging Web3 project effectiveness in Colombia, Argentina, Kenya, the Philippines, and other developing markets.
Hedge Funds’ Long-Term Crypto Interest Remains Robust Even as Proportion Investing Drops: PwC
The percentage of funds with crypto exposure fell to 29% from 37% in the past year, though no traditional hedge funds plan to decrease their exposure in 2023.
Report: The crypto custody market reached $448 billion in 2022
Researchers cite a rise of interest in crypto staking, made possible by the Ethereum Merge and the appearance of non-fungible tokens (NFTs) as the major developments for custody market.
PwC Venezuela Twitter account hacked, attacker shills fake XRP giveaway
An attacker gained access to PwC Venezuela’s Twitter account and has been actively posting cryptocurrency phishing links for the last 8 hours at the time of the writing.
Stratis (STRAX) Soars 200% From June Low On Sky Dream Mall Launch
After the news of the launch of the Sky Dream Mall metaverse and Stratis GBP stablecoin, the price of STRAX increased by 200% from its low of $0.365 on June 15 to its high of $1.20 on June 29, according to data from coinmarketcap. The price dropped the next day and is currently trading at $1.09, although it is still up from its low.
The record high for STRAX was $22.77 on January 8, 2018, more than four years ago. However, the coin’s record low was $0.011 on August 12, 2016, approximately six years ago.
Related Reading | Bitcoin Slides Under $20K – Another Collapse In The Offing?
In spite of the overall market downturn, per the CoinGecko information, Stratis, a blockchain-as-a-service platform, witnessed a notable gain in volume. And among STRAX, Numeraire (NMR) is another coin that shows a notable gain of 201.1% in the seven-day chart. NMR is an Ethereum token that fuels Numerai (a San Francisco-based hedge fund).
Since Stratis has a comparatively strong growth momentum and increased by more than 140.9% over seven days, it is defying expectations in the current bear market. The term “bear market” so refers to a market where commodities or securities’ values are consistently decreasing.
Reasons Behind STRAX Price Spike This Week
Currently, two of the factors are driving the increase in STRAX’s price this week. The first is the Stratis GBP stablecoin announcement, and the second is the Sky Dream Mall metaverse launch.
STRAX is currently trading at $1.05 on the daily chart | Source: STRAX /USD chart from Tradingview.com
In a blog post published three days ago, Stratis said that it is making progress in its attempts to introduce the Stratis GBP stablecoin:
Plans to launch a Great British Pound Token (GBPT) stable coin using Stratis technology are progressing with ‘Stratis Investment Group Limited,’ a new entity created that will be used for the Stratis GBP stablecoin.
However, Price Waterhouse Coopers (PwC), according to the company, is assisting it in obtaining the necessary licenses from the Financial Conduct Authority (FCA).
The post also stated that blockchain technology offers a significant chance to streamline cross-border and wholesale payments as organizations like Visa are becoming more open to accepting stable coin payments.
Polycarbon Games announced on Twitter on June 25:
Sky Dream Mall, a metaverse powered by Stratis Blockchain Coming soon!
The idea of Stratis launching the metaverse front could also be a major motivator behind widespread acceptance in the cryptocurrency industry.
Related Reading | Mining Operators Fret As Bitcoin Looses Ground, What Lies Ahead For The Mining Community
While a few individuals concentrate on the benefit this metaverse will offer, a far more significant number is intrigued by the possibility of financial gain from a metaverse investment.
Investors cannot ignore the fact that Stratis is establishing itself with Sky Dream Mall as a major player who will be important in the developing Web3.0 world.
Featured image from Pixabay, chart from Tradingview.com
Despite bearish trend, hedge funds are dipping their toes in crypto: PwC
Although traditional fund managers remain hesitant about investing in Bitcoin and Ether, their exposure to digital assets appears to be growing.
More than three-quarters of central banks considering a CBDC: research
The report by PwC shows that 80% of central banks are considering or have already launched a CBDC.
61% of Luxembourg financial players to embark on crypto journey in 2022: PwC
The Big Four player PwC Luxembourg dropped a compelling report on crypto-asset intentions, ownership and challenges.
PwC Hong Kong purchases land plot in The Sandbox
The specific plot of land and asset price are unknown at this time, though PwC Hong Kong has divulged early intentions to enter the space.
Quiet down, Elon: 5 crypto stories that didn’t need Musk’s Twitter antics to move markets
Yeah, yeah, we get it: Elon loves attention. Here’s a picture to keep him happy. Meanwhile, let’s take a look a 5 crypto news stories this month that didn’t require us to fawn over his influence…
Crypto mergers and acquisitions doubled to $1.1B in 2020, PwC reports
The average deal size in the crypto industry surged from $19 million last year to nearly $53 million in 2020, according to a new PwC report.
PwC Report Points to Banner Year for Crypto M&A and Fundraising Deals
The value of acquisitions in the first half of 2020 has already surpassed that of full year 2019, according to a new report by PwC.
Blockchain Can Give $1.7T Boost to Global Economy by 2030: PwC Report
A new PwC report claims blockchain technology can add $1.7 trillion to the global economy by 2030, with the Asian continent standing to benefit the most.
Crypto M&A and Fundraising Dropped Sharply in 2019: PwC Report
The value of crypto M&A deals last year dropped by a whopping 76 percent, according to a new report by PwC – down from $1.9 billion in 2018 to $451 million in 2019.
PwC Switzerland Incorporates ChainSecurity Team to Expand Blockchain Audit Tools
Officially, it’s not an acquisition. But seven technical engineers are joining the accounting firm to bolster its smart contract auditing abilities.
PwC Report Shows Major Growth in Crypto M&A in Asia and Europe
Asia and Europe have surpassed the previously dominant role of the Americas in crypto fundraising, according to a new report from PwC.
‘Big 4’ Auditor PwC’s Luxembourg Office to Accept Crypto Payments
“Big Four” auditing firm PwC’s Luxembourg branch will accept cryptocurrency payments from clients starting next month.
PwC Unveils New Tool for Auditing Crypto Transactions
‘Big Four’ firm PwC has launched a new tool for auditing cryptocurrency transaction data.
Crypto Hedge Funds’ Average AUM Grew Three Times in Q1
The average assets under management (AUM) of global cryptocurrency hedge funds increased three-fold in the first quarter of 2019, new research from PwC and Elwood indicates.