Gulf Crypto Insight
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The first and only blockchain and cryptocurrency focused news portal in the Middle East.
https://cryptoinsight.ae/

The Content is for informational purposes only, you should not consider any such information or other material as financial or other advice
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As Turkey’s inflation surges to 36%, citizens turn from the lira to stablecoins

Turkey’s economy remains in turmoil with inflation rising to 36%, and since this time last year, the country’s currency has lost 44% of its value against the US dollar. Meanwhile, the use of stablecoins in Turkey has skyrocketed, and today, 28.96% of all trades with Tether (USDT) are paired against the Turkish lira.

Reports from…

https://cryptoinsight.ae/as-turkeys-inflation-surges-to-36-citizens-turn-from-the-lira-to-stablecoins/

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Day started from:

The global cryptocurrency market cap today is $2.13 Trillion, a 3.2% change in the last 24 hours

Bitcoin ~ $42,688.88 (1.3%)
Ethereum ~ $3,238.66 (4.0%)
Solana ~ $139.75 (2.2%)
Polkadot ~ $25.98 (7.6%)
Flow ~ $7.76 (3.8%)

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PayPal is exploring its own stablecoin backed by the US dollar

PayPal confirmed Friday that it’s currently researching a PayPal stablecoin, Bloomberg reports. Before, developer Steve Moser found code inside the PayPal app regarding PayPal Coin, a US dollar-backed stablecoin.

A PayPal spokesperson confirmed the code and images came from an internal hackathon by the company’s blockchain, crypto, and digital currencies division.

“We are exploring a…

https://cryptoinsight.ae/paypal-is-exploring-its-own-stablecoin-backed-by-the-us-dollar/

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Central Bank of Bahrain successfully trials JPMorgan’s token for its digital payment

The Central Bank of Bahrain (CBB) has successfully completed a digital payments test in collaboration with JPMorgan’s blockchain and cryptocurrency unit Onyx. The trial run included testing the widely anticipated JPM Coin, a digital currency backed by the American investment bank JPMorgan.

Bahrain’s central bank revealed it is committed to improving the customer experience for…

https://cryptoinsight.ae/central-bank-of-bahrain-successfully-trials-jpmorgans-token-for-its-digital-payment/

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The global cryptocurrency market cap today is $2.2 Trillion, a 3.2% change in the last 24 hours

Bitcoin ~ $43,807.24 (2.4%)
Ethereum ~ $3,348.55 (3.5%)
Solana ~ $150.10 (6.9%)
Polkadot ~ $26.98 (4.6%)
Flow ~ $7.95 (2.2%)

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Art Dubai unveils in 2022 a new digital section with NFT and VR art

Art Dubai announced on Sunday the list of participating galleries at its 2022 edition, which will be its most extensive to date. The fair will occur at Madinat Jumeirah, Dubai, from 11-13 March 2022, with previews on 9 and 10 March. The upcoming event marks the debut of Art Dubai Digital, an innovative new digital…

http://cryptoinsight.ae/art-dubai-unveils-in-2022-a-new-digital-section-with-nft-and-vr-art/

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Crypto is inevitable in Iraq

Crypto is inevitable in Iraq

Despite roadblocks, crypto is becoming increasingly popular in Iraq and the Kurdistan region, claimes Abdurrahman Bapir on CoinDesk.

Cryptocurrency was born out of a financial crisis. It was a proposed solution to the problems caused by, and inherent in, the worldwide banking system as well as centralized authorities.

Satoshi Nakamoto’s…

http://cryptoinsight.ae/crypto-is-inevitable-in-iraq/

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NFT sales surpass $4 billion in the last month

Despite a decline in the crypto markets, NFT marketplaces have made a tremendous surge in the previous month. According to data from Tradingplatforms.com, NFT global sales surpassed $4 billion in the last 30 days.

“2021 will go down as the breakdown year for NFTs. The growth in their sales is due to two main factors,”…

http://cryptoinsight.ae/nft-sales-surpass-4-billion-in-the-last-month/

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The global cryptocurrency market cap today is $2.17 Trillion, a -0.9% change in the last 24 hours

Bitcoin ~ $42,945.36 (-1.9%)
Ethereum ~ $3,312.07 (-1.2%)
Solana ~ $149.47 (-0.7%)
Polkadot ~ $27.40 (1.0%)
Flow ~ $7.91 (-0.5%)

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Bitcoin: Falling To Justify Its Value

The start-of-the-year drop in cryptocurrency prices is due to various reasons (which we will go through). Still, with a cool head, you may recognize that crypto, through complex mechanisms of self-regulation, rejects attempts to pump it up with fiat money. You can even say that cryptocurrencies want to maintain their role as money and not…

https://cryptoinsight.ae/bitcoin-falling-to-justify-its-value/

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Kevin O’Leary believes NFTs in 2022 will become bigger than Bitcoin

“Shark Tank” star and celebrity investor Kevin O’Leary predicted non-fungible tokens (NFTs) will be bigger than Bitcoin. He appreciates NFTs can prove ownership of real-world items, such as designer watches or flashy cars. Though, comparing Bitcoin and NFT, O’Leary said he’s “investing on both sides of that equation.”

At Yahoo Finance Live the chairman of…

https://cryptoinsight.ae/kevin-oleary-believes-nfts-in-2022-will-become-bigger-than-bitcoin/

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WP: Cryptocurrency is suddenly everywhere – except in the cash register

While interest in crypto has exploded, few people are using it for its intended purpose: to pay for things – writes Tory Newmyer on The Washington Post.

Billionaire tech executive Michael Saylor has called Bitcoin “the seminal invention of the human race.” His website describes it as “a bank in cyberspace” offering a “simple, &…

http://cryptoinsight.ae/wp-cryptocurrency-is-suddenly-everywhere-except-in-the-cash-register/

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Gamers are profiting off ‘play-to-earn’ blockchain games

With the region’s youthful population, blockchain-based play-to-earn games are becoming one of the fastest-growing innovative sectors in the Middle East. They provide new models to help monetize time spent in games with crypto tokens, NFTs, and staking. Industry players believe that the $181 billion gaming revenue to be made this year will increase substantially soon…

https://cryptoinsight.ae/gamers-are-profiting-off-play-to-earn-blockchain-games/

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Day started from:

The global cryptocurrency market cap today is $2.19 Trillion, a 0.5% change in the last 24 hours

Bitcoin ~ $43,144.95 (0.3%)
Ethereum ~ $3,322.66 (0.2%)
Solana ~ $147.47 (1.4%)
Polkadot ~ $27.96 (2.8%)
Flow ~ $7.75 (-0.1%)

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NFT-2022: What to expect from a brand-new industry? Part 1

NFT is a huge branch of the blockchain economy that essentially formed before our eyes in 2021. And while few people knew what “non-fungible tokens” even were a year ago, by the end of the year, the most prominent corporations were already integrating NFT solutions into their products, and the market volume amounted to tens…

http://cryptoinsight.ae/nft-2022-what-to-expect-from-a-brand-new-industry-part-1/

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NEAR protocol raises $150 million to become a Web3 development hub

“High-performance blockchain” NEAR Protocol has raised $150 million in its latest funding round led by Three Arrows Capital. The NEAR token has surged on the news, gaining 6.6% in the following hours.

NEAR Protocol announced Thursday that it has successfully closed a $150 million funding round to accelerate Web3 adoption. Su Zhu and Kyle Davies’…

http://cryptoinsight.ae/near-protocol-raises-150-million-to-become-a-web3-development-hub/

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Dogecoin surges 25% after Musk tweets that Tesla adopts payments in DOGE

Dogecoin soared 25% and briefly topped the $0.2 price range following Tesla’s announcement that it would begin accepting the meme coin. Tesla CEO, Elon Musk, tweeted that the automaker would finally begin accepting DOGE, a move that the meme coin community had greatly anticipated.

Musk, a big proponent of Doge, had teased this adoption numerous…

http://cryptoinsight.ae/dogecoin-surges-25-after-musk-tweets-that-tesla-adopts-payments-in-doge/

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Hello there!
Day started from:

The global cryptocurrency market cap today is $2.17 Trillion, a -0.7% change in the last 24 hours

Bitcoin ~ $42,736.20 (-1.1%)
Ethereum ~ $3,272.54 (1.6%)
Solana ~ $143.06 (-3.0%)
Polkadot ~ $26.68 (-4.6%)
Flow ~ $7.52 (-3.0%)

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Jack Dorsey’s Block is developing an open-source Bitcoin mining system

Block, the Jack Dorsey-led payments company (formerly known as Square), wants to democratize access to Bitcoin mining by building an open mining system. This comes amidst fears that Bitcoin mining is becoming too centralized.

Block is building an open Bitcoin mining system as it continues to expand beyond its core payments business and embraces CEO…

http://cryptoinsight.ae/jack-dorseys-block-is-developing-an-open-source-bitcoin-mining-system/

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Pakistan’s central bank reportedly plans to ban crypto

Pakistani government and its central bank have recommended banning cryptocurrency, arguing in a document submitted in a provincial court that allowing it would cause capital flight. Reuters reported that an official report recommends declaring all cryptocurrencies illegal, citing local media.

The Sindh High Court has been hearing a constitutional petition filed in 2019, which seeks…

http://cryptoinsight.ae/pakistans-central-bank-reportedly-plans-to-ban-crypto/

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