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The latest price moves in bitcoin [BTC] and crypto markets in context for Dec. 20, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
A big selling point of blockchain networks is that they are “decentralized.” But just a few validators, including those run by Lido, have gradually amassed a lion’s share of the power over the dominant smat-contracts blockchain, Ethereum. One idea is to decentralize the validators themselves.
Moving forward, China’s Web 3 strategy would encourage the development of new business models such as NFT and accelerate the innovative application of Web3, the Ministry of Science and Technology said.
Organizing as DAOs doesn’t mean freedom from regulatory responsibilities, the International Organization of Securities Commissions says.
Bitcoin has historically rallied after its halving event – which automatically decreases the supply of new coins in the open market – and traders are likely pricing in the event that’s next scheduled for April 2024.
With substantial developer communities, flourishing Web3 scenes, and a headstart in SocialFi, Asia’s blockchain hotspots are primed to lead the next cycle of crypto adoption.
A bitcoin mining operation. (Cipher Mining)
A large increase in demand coupled with lower supply should set the stage for higher prices in 2024, he told Bloomberg.
Saga phone (Danny Nelson/CoinDesk)