Justin Sun Resigns as Crypto Market Declines

In a wildly unexpected move, Justin Sun resigns as CEO of the Tron Foundation. He’s giving up his post to become a diplomat for Grenada. Sun said his new mission is to focus on legitimizing blockchain technology at the nation-state level and that the foundation he started will dissolve in 2022. Read Sun’s open letter to the TRON community for yourself. TRON’s cryptocurrency fell by more than 8 percent yesterday.

90 percent of all bitcoin has been mined. This is a huge deal. With 90 percent already mined, that means bitcoin is more scarce than ever. It also means that mining will slow down with each successive halving. The more whales holding bitcoin, rather than spending it, means that there is even more scarcity in the market. CoinTelegraph points out that it’s been three years since bitcoin bottomed out. And CoinDesk shares what causes bitcoin to rise and fall, as the leading cryptocurrency dipped below $46,000. I predict that either the floodgates will open some time in the next 100 years and bitcoin will become a viable currency with real spending power for the average individual or, when “investing” reaches critical mass, the only people holding bitcoin will be those who want to horde it for the sake of hording it. One academic says bitcoin may not last much longer. In the case of hording just for the sake of hording, bitcoin would then essentially be worthless and we’d likely see a decline in value—but that’s not going to happen for, again, at least another 100 years. Find more bitcoin stats here.

Of the leading cryptocurrencies down Friday, Ethereum was down the most.

Binance stymied by money laundering rules in Singapore and shut down its exchange in the country. Meanwhile, in the U.S., Binance hires its first chief risk officer.

Rarible integrates Tezos NFTs. Good news for Tezos fans.

Tether supply on exchanges hits a 6-month high.

Coinbase president believes crypto destined to have 1 billion users.

Could Cardano be a 10-bagger? Its recently seen a 3 percent increase in large transactions. See the Cardano analysis from AMBCrypto below.

5 reasons the crypto market might crash in 2022. On the other hand, here are 10 cryptocurrencies expected to grow in 2022.

Meet three public enterprises with large crypto holdings. I suspect that, as the crypto market cap grows and real-world economics gets more unstable, we’ll see more large enterprises hedge against inflation and the values of fiat money by holding cryptocurrencies—and it may not always be bitcoin. MicroStrategy, one of the large enterprises with huge crypto holdings, is considering lending it out.

Robinhood users can now gift crypto.

A new report by Gartner indicates large enterprises holding digital currencies will grow 20 percent by 2024.

7 factors that influence crypto value.

4 types of cryptocurrencies based on utility.

Are NFTs useful or just a way to launder money? Gary Vaynerchuk says they are the key to “incredible value” in smart contracts.

Millennial investors plan to add to their crypto investments in 2022. But for Christmas, they and Gen Z are expected to spend thousands of dollars on crypto, NFTs, and metaverse land as holiday gifts.

SEC delays decisions on Bitwise and Grayscale Bitcoin ETFs.

$10 billion stolen in DeFi thefts this year. How to protect yourself.

Tim Draper talks about what keeps him going—HINT: It starts with a “B.”

A new 3D pay-to-earn metaverse game called Minereum World will launch in the first quarter of 2022. The goal is to buy and hold as much land as you can handle.

Crypto companies have become the leading advertisers in sports.

A new report indicates that the big investment trend in 2021 is that women prefer bitcoin while men prefer Shiba Inu. In other words, men don’t think with their heads while engaging with crypto any more than they do when engaging with women, and women have better sense when it comes to crypto than they do when it comes to men. I take no responsibility for the state of your emotions after reading that last sentence.

How to pay with crypto on Amazon.

BankProv is launching a crypto lending platform. Thinking about it yourself? International Business Times discusses the pros and cons of bitcoin lending.

How to facilitate video streaming with Bitcoin SV.

Pretty Little Crypto Analyses

Is Ripple the best investment for 2022?

Elliot waves for litecoin and dash.

BTC, ETH, and LTC slide off the charts.

DeFi and smart contracts platforms lead decline in the market.

Cardano, Binance, and The Sandbox analysis.

Ethereum could rise 10 times by 2030, so this guy says.

Around the World with Cryptocurrencies

Russia has stepped up its campaign against private crypto.

Myanmar’s shadow government adopts Tether as official currency.

And, surprise! Bitcoin in El Salvador is fake.

The Reserve Bank of India discusses a digital currency. But banks are not too pleased.

Cyprus to regulate cryptocurrencies.

African Blockchain Lab raises $6 million.

As you know, none of this is financial advice, so do your own research. First published at Cryptocracy