1. 43% of Singaporeans own cryptocurrency
Based on a poll of 1000 Singaporeans by the Independent Reserve Cryptocurrency Index, 43% of the respondents said they owned cryptocurrency and 46% had plans to buy digital assets in the next 12 months.
Singaporean sentiment towards cryptocurrency is largely positive with 93% of the respondents having heard of BTC and nearly 40% referring to the token as ‘investment asset’.
A substantial 66% of the respondents in the 26-45 age bracket said that they owned cryptocurrencies and 75% of those between 26-35 believed that cryptocurrencies will become widely accepted by individuals and businesses.
2. Solana hackathon aims to bolster crypto innovation in India
Blockchain platform Solana announced Building out Loud, a hackathon exclusive to Indian developers and entrepreneurs. This 3-week long hackathon is launched in collaboration with Devfolio and YouTube influencer Superpumped and is targeted towards anyone looking to get into crypto currency. With attractive prizes up for grabs, the hackathon aims to be the first step towards an open-source community in crypto for India.
3. Yahoo Japan works with Line to launch NFT trading
Yahoo Japan has partnered up with messaging platform Line to enable the secondary trading of NFTs issued on Line’s proprietary platform. Line blockchain-based NFTs will be placed onto Yahoo! Auctions as part of the collaboration.
4. EY aims to simplify cross-border withholding tax process with blockchain
Global professional services firm Ernst & Young (EY) have recently announced the completion of a blockchain-based project to address the complexities and inefficiencies in the cross-border withholding tax (WHT) process.
The newly completed WHT solution implements EY’s blockchain-based technology to enable a secure, automated, and decentralized sharing of financial information between authorities. This will minimize fraudulent occurrences and improve tax compliances.
5. BTC-backed home loan in California
The use of cryptocurrency in real estate transactions is not as uncommon as most think.
Glen oaks Escrow has announced its first property refinancing with a BTC backed loan. Though it is the first time using BTC as a collateral, they are no foreign to BTC payments, having started accepting BTC since 2018.On July 27 2021, a home listing for sale will accept 7 cryptocurrencies and have even offered a 10% discount if the property is purchased using Dogecoins
👉 See BTC prices now
6. ETH trading volume surged 1400% in first half
The ETH market grew 3x faster than BTC in the first half of 2021 as large investors diversified into it. From the January to June period, ETH had a 1,461% rise from $92B to $1.4T as compared to BTC which only rose 489% in the same time period.
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7. Dallas Symphony Orchestra releases classical music NFTs
The Dallas Symphony Orchestra released an NFT to celebrate a historical musical event that took place in May 2021. One of the NFT features a video of the full concert with behind the scenes footage and a VIP experience at the 2022 reunion concert. The proceeds raised from the sale of NFTs will go toward a charity that will benefit MET Opera Orchestra musicians impacted by Covid-19.
8. Coca-Cola gets into NFT for charity
Coca-Cola plans to release a collection of NFTs to raise money for the Special Olympics International, a sports organization aimed at ending discrimination against people with intellectual disabilities.
The NFTs will be created in collaboration with Tafi to create ‘Friendship Boxes’ with a surprise element in it. A 3 day auction for the NFTs will be opened starting 30 July 2021, and all proceeds from this auction will be donated to charity.
9. Colombia’s first commercial bank will let users transfer money to crypto exchange
Columbia’s first commercial bank, Banco de Bogotá, plans to allow deposits and withdrawals with crypto exchange as part of a government sponsored pilot test. According to Alejandro Beltrán, Columbia country manager for the Chilean crypto exchange, Buda.com, bank customers will be allowed to send and withdraw money from Buda.com.
The service is scheduled to start in early August however, both parties are still defining the terms and conditions of the contract.
10. Blockchain data estimates BTC’s price floor to be $37.3K
BTC has a price floor now of around $37,300 based on Chainalyysis’s latest market report. The report also states that the market is holding the price floor as demand from existing whale investors has returned. The temporary price floor is estimated by calculating the average cost of BTC held by investors who entered the market in the past 12 months.
Written By Ng Ying Xuan
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