News updates January 7, 2022
1. The Official Presale Of SHAH Token Is Now Live.
You Can Fill The Form By Going On To The Official Website:
SHAH Token Presale is now open!
You can send BUSD using BEP20 network to SHAH Token wallet address.
Minimum: $200
Maximum: $3000
Presale Price: $0.01
Listing Price: $0.03
2. Bitcoin Dominance Sinks to Lowest Level in 3 Years as Ethereum, Numerous Competitors Gain on BTC
Bitcoin dominance has dropped to the lowest level in just over three and a half years since June 3, 2018, at 37%. Last year, at the end of March, bitcoin dominance hovered just above the 60% zone but since then, numerous digital asset market caps have swelled in value and gathered prominence in the market rankings along the way.
Bitcoin Dominance Dips Below 38%
The crypto economy currently has roughly 12,247 crypto assets traded across 542 exchanges worldwide. Crypto markets have shed more than 7% over the last 24 hours, dropping to a low of $2.16 trillion by 8:00 a.m.
3. Kazakhstan Shuts Down Banks, Internet Amid Unrest That Threatens Bitcoin Mining, Hashrate
Measures imposed by authorities to quell mass protests in mining hotspot Kazakhstan are affecting cryptocurrency markets and the Bitcoin network hashrate. To deal with the civil unrest caused by rising fuel prices and a worsening economy, the government restricted access to the internet and closed down local banks. Fears are rising that the turmoil may spark another major migration of miners now that some are already leaving the country, which also faces power shortages.
4. Chinese Crackdown Bolsters Bitcoin Mining in Thailand, Bigger Investors Eye Setting Up Operations in Laos
A crackdown on bitcoin mining by China has led to an increase in the number of Thai investors that have acquired and are operating mining rigs, a report has said. The report adds that many of these investors are currently earning between $30 and $40 per day from each mining rig.
Chinese Crackdown and the Effect on Mining Rig Prices
The number of bitcoin miners in Thailand surged in 2021 after China’s ongoing crackdown on bitcoin mining forced major players in the industry to quit or to ship their equipment to countries with friendlier regulations.
5. Report: Pakistan Likely to Earn Billions From Cryptocurrency
According to a document produced by a Pakistani policy advisory board, the country is likely to earn billions of dollars from crypto-asset holders. Yet for this to happen, the country first needs to create the appropriate regulatory framework for crypto assets.
Pakistan may potentially raise billions of dollars from crypto assets held by its nationals or by residents with dual citizenship, a policy document produced by the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has said.
According to a report in The Business Recorder, the document titled “Prospect of Cryptocurrencies: A Context of Pakistan Policy Brief” asserts that Pakistan could also use the crypto assets to help boost the country’s reserves.
However, before it adopts the recommendations of the policy document, Pakistan needs to craft a regulatory framework as well as a national cryptocurrency strategy. This, according to the report, must be done in order to protect the country’s economic interests.
6. Crypto crimes saw a record high number last year in terms of value, blockchain analysis firm Chainalysis said
The blockchain analysis firm reported recently that illegal addresses of criminals received $14 billion in digital currencies, up 79% from $7.8 billion in 2020.
Illicit addresses already hold over $10 billion worth of cryptocurrencies as of early 2022, Chainalysis said.
The report also shows the leading factor in the increase of stolen funds and scams is potentially due to the rise in decentralized finance (DeFi) - which facilitates crypto-denominated lending outside traditional banking
n 2020, there was a 335% increase over the total cryptocurrency stolen from DeFi platforms in 2019 as less than $162 million worth of cryptocurrency was stolen from DeFi platforms, which was 31% of the year's total amount stolen. While in 2021, there was a rise in the figure with another 1,330% to $2.3 billion, Chainalysis said
The increase in DeFi-related crime is an example of how criminals often exploit new technologies," Kim Grauer, head of research at Chainalysis, told Reuters.
When DeFi started to grow this year, we saw large increases in DeFi protocols being used to launder money as well as DeFi protocols being the actual victims of crimes such as hacking."
