Bitcoin, Ethereum, Crypto News and Price Data June 2022
The second half of 2021 has been a rollercoaster ride for the crypto markets. While most cryptocurrencies have experienced tremendous growth in value over 2017-2020, some are yet to recover from their 2020 lows. The cryptocurrency market is predicted to grow exponentially by 2023. With that being said, here’s what you need to know about Bitcoin, Ethereum, Crypto news, price predictions, and more…
Bitcoin, Ethereum, Cryptocurrency news and prices will continue to be dominated by rumors until mid-2022. However, many analysts predict an exciting year ahead as there’s plenty happening on the horizon. Here are some key events and developments expected this year.
SEC Proposes New Rules Regarding ICO Tokens
On April 22nd, 2021, the Securities Exchange Commission (SEC), proposed new rules regarding initial coin offering (ICO). These regulations include preventing companies or individuals who offer tokens during an ICO from selling them later without adequate disclosure. This could significantly reduce fraudulent practices within the digital currency industry.
China Bans Initial Coin Offerings and Virtual Financial Assets
China continues its crackdown against cryptocurrencies while banning all token offerings and virtual financial assets. On May 1st, 2021, Chinese regulators banned ICOs and other similar activities related to fundraising via blockchain technology. Furthermore, they also issued stricter requirements for businesses operating with these technologies. In addition, banks were forbidden from providing services such as lending or trading.
Coinbase Launches Stablecoin Offering
Coinbase announced it would launch a stablecoin issuance platform called DCA+ earlier this month. DCA+, which stands for decentralized constant asset, allows users to purchase DAI stablecoins directly at any time. Users can trade and exchange these coins freely without worrying about volatility. It is estimated that $10 billion worth of DAI will be minted through DCA+.
Facebook Plans Libra Blockchain Standard
Facebook plans to develop Libra as one of four core standards used across different blockchains. Libra will allow developers to build applications using multiple types of networks. Libra is based on VMWare vSphere, Infura API Gateway service provider, Cosmos SDK, Calypso development framework, etc. According to reports, Libra offers security features like multi signature wallets, private transactions, and smart contracts.
Cointree Raises $100 Million Series A Funding Round
Cointree, a global leader in supply chain finance software, raised $100 million funding round led by Sequoia Capital India. Other investors involved in this financing included Andreessen Horowitz, Blumont Ventures, Matrix Partners, Naspers Group, Samsung NEXT Fund, Slow Ventures India, SV Angel India, Tencent Holdings Limited, Tiger Global Management LLC, Union Square Ventures, Winklevoss Capital, Y Combinator Continuity fund, among others.
Bakkt Launching Physical Bitcoins & ETH
In June, Intercontinental Exchange (ICE) expects to launch physically delivered bitcoin futures known as Bakkt physical bitcoins. ICE owns two regulated derivatives exchanges namely NYSE Arca and Chicago Mercantile Exchange (CME). After launching Bakt, customers can choose between buying and holding them privately or redeeming them for cash when available. For now, only ether (ETH) will be supported but bitcoin (BTC) support is imminent and expected around Q3-Q4 2021.
Ethereum Price Prediction 2022
According to various sources, ethereum prices should increase exponentially starting 2022. Some estimates expect the prices to double while others project five fold increases. Nevertheless, regardless of what happens, ethereum is projected to remain one of the top 10 largest cryptocurrencies by market cap.
Bitcoin Cash Price Predictions 2022
While Bitcoin remains stagnant, the BCash network continues growing exponentially. Most traders anticipate further gains in the near future. One estimate suggests that BCC should triple its current values by 2022. Another says that BCC should reach $400 by 2025. Still, there are those who believe that the price of BCC will fall below $50 by 2024. Regardless of whether that occurs, BCC should definitely become one of the world’s biggest cryptocurrencies by market cap next decade.
Crypto Market Cap Expected To Reach $10 Trillion According to Bulls
By 2022, according to Bloomberg calculations, total crypto market capitalization is expected to rise above $10 trillion one day possibly.. Currently, crypto market cap sits just under $800 billion. And if everything goes right, we’re likely to see it surpass $10+ trillion by 2028 in a blue sky scenario.
Lightning Network Usage Doubles Each Month
Lightning Labs’ lightning network usage increased almost twice each month in March 2021 compared to February 2021. During the period, LN grew up to 515 megabytes per hour of data transferred. At present, the network handles approximately 763k payments every day.
Monero Adds Ring Confidential Transactions Feature
Monero has added a ring confidential transactions feature. Also known as RCT, this feature helps protect privacy of users. Unlike standard transactions where parties reveal information to third parties, RCT doesn’t share sensitive details.