Pioneer Asia: Bitcoin rebounded to more than US$50,000 in thin weekend trading, altcoins rose

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(Editing by James Rubin)

Good morning. This is what happened this morning:

Market trend: After the S&P 500 index rose to near historical highs, Bitcoin rebounded to more than $50,000.

Views of the technical staff (Editor’s note): First Mover Asia replaced today’s usual Technician’s Take with CoinDesk’s annual list of the most influential people in cryptocurrencies. This year’s 50 influential people include the developers and entrepreneurs behind the projects that have changed our view of money and business practices; thinkers trying to understand fast-emerging industries; regulators and politicians trying to set reasonable To protect consumers without compromising the outstanding innovation of cryptocurrency. The nature of the year-end list can cause disagreements, sometimes controversy, and sometimes speculation. So please read CoinDesk’s choices to see who you will choose and who might be on the 2022 list. Showcasing CoinDesk’s most influential 2021: 50 people who define the cryptocurrency year.

Watch the latest episodes of CoinDesk TV Insightful interviews and analysis of leaders in the encryption industry.

price

Bitcoin (Bitcoin): USD 50.290 + 2%

Ether (Ethereum): USD 4,158 + 2.5%

market

Standard & Poor’s 500 Index: US$4,712 +0.9%

Dow Jones Industrial Average: $35,970 + 0.6%

Nasdaq: US$15,630 +0.7%

Gold: USD 1,783 + 0.3%

Market trend

Bitcoin regained most of its lost ground in the past week and recovered to more than $50,000 on Sunday.The S&P 500 index rebounded two days after closing at the closing price on Friday Close to its highest level in history.

The trading volume of the main centralized exchanges remained low over the weekend, well below the high level of a week ago, when the oldest cryptocurrency fell to a low of $42,333 on December 4. Not very sustainable, Which means that once the Asian market opens, the direction of Bitcoin is still uncertain.

The price of alternative cryptocurrencies has also risen: Ether, the second largest cryptocurrency by market value, rose to more than $4,100 on Sunday.

The inflation data released by the US Department of Labor was not as high as many investors expected, and the US stock market rose on Friday. NBC Finance Channel.

Pillar

Showcasing CoinDesk’s most influential 2021: 50 people who define the cryptocurrency year. (Provided by CoinDesk staff)

For encryption, this is an important year: 12 months, long-held papers have been verified, and many former sci-fi concepts have become relatively mainstream.

Celebrities accepted NFT (non-fungible token) and DAO (decentralized autonomous organization) became a thing. The U.S. Congress levies a tax on encryption (but it is increasingly accepted). And the market… well, they are crazy.

Today’s “encryption” means more important meaning than a year ago and ten years ago. It needs the future of money, the future of culture, and perhaps the future as we know it.

The most influential is CoinDesk’s recognition of this broad field of innovation. The following names are first selected by readers in the survey, and then selected by the staff in two rounds (intensified) meetings.

The top 10 are recognized for their outstanding contributions in development, commercial construction, supervision, games, art, and investment. CoinDesk commissioned 10 artists to create portraits for these influencers, and the NFT of the works can be obtained on platforms such as SuperRare and Foundation. Up to 20% of sales will be donated to the charity chosen by the artist.

“Honour 40” (listed below the top 10) is recognized for its work in progress. We will launch more briefings and interviews this week.

Most Influential in 2021: Top 10

1. Sam Bankman-Fried, CEO of FTX

Why: Named stadia “FTX” and became the richest and smartest twenties in the cryptocurrency. Read the full profile.

2. Roham Gharegozlou, CEO of Dapper Labs

Why: Lead the NBA Top Shot and bring tokens to sports (including NFL). Read the full profile.

3. Taproot Developer of Bitcoin

Why: Contributed to the biggest Bitcoin upgrade in years. Read the full profile.

4. Jack Mallers, founder and CEO of Strike

Why: In recognition of his cooperation with President Buquerer in El Salvador and the development of the Bitcoin Lightning Network. Read the full profile.

5. Elon Musk, entrepreneur

Why: Because of his Dogecoin advocacy-and demonstrated the danger of influencers to the crypto market. Read the full profile.

6. Trung Nguyen, CEO of Axie Infinity

Why: The giants that make encryption fun and catalyze the “money game”. Read the full profile.

7. Cynthia Lummis, U.S. Senator representing Wyoming

Reason: Leaders in the U.S. Senate support the discussion of Bitcoin. Read the full profile.

8. Gary Gensler, Chairman of the US Securities and Exchange Commission

Why: Master the nettle of encryption supervision. Read the full profile.

9. Do Kwon, CEO of Terraform Labs

Why: In recognition of his contribution to Cosmos and the multi-chain future. Read the full profile.

10. Katie Haun, general partner of Andreessen Horowitz

Why: Used to lead policy discussions and significant investments. Read the full profile.

Honorable 40

The following individuals are recognized for their continued contributions to the encryption industry.

All see Seneca- The creative leader behind Bored Ape Yacht Club.

Navin Jain- He used emoji to create a global identity solution.

Polynetwork hackers – Educate us about the difference between “hack” and “exploit”.

Roniel Lemberg- The CEO of Audius has developed Web 3 Spotify to nearly 7 million listeners per month.

Michael Schaloff—— The DeFi giant has found a balance between decentralization and compliance.

Francis X. Suarez – Mayor of Miami: “I have learned how extensive the network of cryptocurrency stakeholders really is.”

Camilla Russo– Founder of Defiant: “We are just learning how powerful cryptocurrencies and smart contracts can unite people around the world.”

Becco team – By 2030, the economy of Ethereum will [at] The Ethereum developer said the scale of the “top 10 countries”.

Mark Cuban– Encryption “will have the same impact on businesses and consumers as the Internet, or even more.”

Willie Wu—— Build a media empire in the 21st century.

Isaiah Jackson– The author of “Bitcoin and Black America” ​​continues to be inspiring.

Stany Kurechev The founders of Aave have made fun of future ideas for decentralized currency markets, including debit cards and fashion series.

Ryan Serkis– The CEO of Messari is behind this year’s cryptocurrency political awakening.

Charles Hoskinson – The founder of Cardano brought smart contracts to one of the biggest “Ethereum killers” this year.

André Krone—— Will 2022 be the year when Yearn becomes the “revenue back office”?

Gavin Wood– After the first batch of parachain auctions, Polkadot will consolidate its position as a key proof-of-stake blockchain.

Arianna Simpson– The general partner of a16z is investing in Web 3, the future of the Internet.

Paul Adoino – Tether’s unofficial speculators are willing to argue with critics of stablecoins online.

Vitalik Butrin- The founder of Ethereum still controls the most commonly used blockchain network.

Antonio Giuliano– The decentralized exchange dYdX is the first exchange to try an innovative layer 2 solution.

Jeremy Allaire– The CEO of Circle hopes to lead his company to exit at a price of $4.5 billion.

Danny Ryan – Programmers from the Ethereum Foundation took the lead in the highly anticipated London hard fork.

Michael Saylor– MicroStrategy CEO will buy on dips. He is in the Bitcoin market.

Elizabeth Warren– The progressive Massachusetts senator brought the fight against cryptocurrency to Washington.

Jerome Powell– The chairman of the Federal Reserve may be the most influential person in the crypto space, because he is so in all markets.

Barry Silbert– The founder of the Digital Currency Group regards Standard Oil as inspiration.

Serey Chea – The Bakong project is different from digital currency experiments in other countries. Chea brought Cambodia’s moon landing plan.

Ray Youssef—— Peer-to-peer bitcoin trading is a powerful force.

President Xi Jinping – The CCP bans mining, which proves the resilience of the Bitcoin distributed network.

Bitfinex’ed – This year, some suspicions of Tether’s support by the anonymous account were confirmed.

Changpeng Zhao – The Binance CEO adopted a more practical approach to supervision this year.

Robert Leshner– The founder of Compound expects that the bridge between DeFi and traditional finance will shrink next year.

Devin Finzer- The most recent valuation of OpenSea is US$10 billion.

Matt Hall and John Watkinson– Larva Labs, the founder of CryptoPunk, is working with Hollywood giants to expand the NFT brand.

Brian Armstrong– The CEO of Coinbase is listed on the US exchange this year, a historic direct listing

Jack Dorsey– The former CEO of Twitter and Square and the current CEO of Block are building a world where Bitcoin is the native currency of the Internet.

Christine Smith– The executive director of the Blockchain Association is one of the strongest supporters of Capitol Hill cryptocurrency.

buzzer- Digital artist Mike Winkelmann brought NFT into the spotlight.

Anatoly Yakovenko—— The distributed network Solana co-founded by Yakovenko has seen tremendous growth this year.

Discover encrypted random celebrities – From Paris Hilton to Jimmy Fallon, cryptocurrencies have become the focus of attention

Important event

7:50 am HKT/SGT (23:50 pm UTC, December 12): Japanese machinery orders (October YoY/MoM)

HKT/SGT 7:50 AM (December 12, 23:50 PM UTC): Japan’s large manufacturing index/ outlook (Q4)

HKT/SGT 7:50 am (23:50 pm, December 12, UTC): Japan’s non-manufacturing index/Outlook (Q4)

HKT/SGT 3 pm (7 am UTC): Germany’s overall price index (November YoY/MoM)

7pm Hong Kong time / 11pm Singapore time (11pm UTC): European Blockchain Conference (Virtual)

CoinDesk TV

If you missed it, here is the latest episode “The first one to move” exist CoinDesk TV:

The U.S. inflation rate reached its highest level since 1982 in November, up 6.8% year-on-year. The CEO of Stellar Foundation gave an opinion on U.S. crypto regulation

The “Forerunner” host and Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation, reviewed the congressional hearing with the crypto chief executive on Wednesday and her views on the prospects for crypto regulation in the United States. Matthew Sigel, Head of Digital Asset Research at VanEck, provided market insights, as the U.S. CPI figure hit the highest level in 39 years in November. In addition, CoinDesk Global Policy and Regulation Editor-in-Chief Nik De sat down with Senator Cynthia Lummis of Wyoming, and CoinDesk named him one of the 50 most influential people in the crypto field in 2021.

The latest headlines

The Prime Minister of India was attacked by Twitter again; the fake Twitter sent promising bitcoins to all Indians: The attack occurred after an attack in the fall of 2020, which was part of a widespread hacking attack used to trick social media users into sending cryptocurrency to attackers.

India’s Modi calls for global encryption standards: The Prime Minister stated that technologies such as encryption should empower democracy rather than destroy them.

South African financial regulators are planning encryption rules to protect vulnerable groups: Report: The regulations will be announced in early 2022 in response to two major scams that defrauded investors of huge amounts of money earlier this year.

ConstitutionDAO tokens (yes, they are still trading) saw crazy transactions cleared of $9 million: The market movements of long and short traders who bet on PEOPLE (based on the native token of Ethereum’s ConstitutionDAO) have become better.

As the U.S. inflation report approaches, Bitcoin is under pressure, and the yield on the two-year Treasury bond has risen to a 21-month high: The last CPI report released last month showed that Bitcoin transactions fluctuated between $63,000 and $69,000.

Longer reading time

Anonymous crypto donors are changing philanthropy: The co-founder of The Giving Block said that he won the “silent war” over the privacy of donors in the non-profit sector.

Today’s encryption interpreter: What is a Bitcoin ETF?

Other voices: 5 billion bitcoins, lost in the dump (New Yorker)

Speak and hear

“Today’s’encryption’ means more important meaning than a year ago and ten years ago. It needs a future of money, a future of culture, and perhaps the future as we know it.” (CoinDesk-Most Influential in 2021)

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