Bitcoin’s Market Cap Increased by a Peak of 172% in 2023
In 2023, Bitcoin’s market capitalization saw a significant increase of 172%, according to on-chain analysis firm Glassnode. This year has been exceptional for digital assets, with Ethereum and other altcoins also experiencing strong growth in their market caps. The market has surpassed important technical and on-chain pricing models, with the rally since late October driving most of the gains. Digital assets have outperformed traditional assets like Equities, Bonds, and Precious Metals throughout the year. Bitcoin transaction volumes remained stagnant until October, indicating a shift in the market phase. Additionally, there has been an expansion in spot trading interest as exchange inflow and outflow volumes for BTC and ETH have increased.
Bitfinex Securities Facilitates $5.2M Tokenized Bond Raise for Mikro Kapital
Bitfinex Securities and Mikro Kapital successfully raised $5,200,100 USDT of ALT2611 bonds on the Liquid Network. This tokenized bond is the first in the microcredit industry and one of the world’s first tokenized bonds. The bond has a 36-month tenor with a 10% coupon, denominated in USDT. It was issued on the Liquid Network, a side-chain of the Bitcoin blockchain specifically designed for regulated security token offerings. Earlier this quarter, Mikro Kapital and Bitfinex Securities signed an agreement to explore asset tokenization and the use of USDT and EURT within the microfinancing industry.
Immutable Passport Debuts for Over 500,000 Players Across Six Web3 Games
Gaming company Immutable has launched Immutable Passport, which simplifies the sign-up process for players across different online games and marketplaces. This solution allows players to carry their identity, achievements, and digital assets across various platforms. Immutable Passport has already been integrated into five Web3 games and marketplaces, including Gods Unchained and AtomicHub, with a combined user base of over 500,000 people. To celebrate the debut, Gods Unchained players using Immutable Passport will receive a free in-game cosmetic item. Other launch partners include Bleacher Report Watch to Earn, a loyalty program that utilizes Web3 technology.
Tokens.com Launches Ecommerce App on Google Play and Apple iOS Stores
Tokens.com Corp. has announced the launch of Valor, a proprietary e-commerce platform within Metaverse Group that enables product placement and advertising within virtual gaming worlds like Roblox and Fortnite. Valor is a loyalty program that allows clients to place branded products in games, and players can scan these items to claim offers and earn redeemable points. The app solves the problem of advertising in gaming platforms where links and QR codes are not allowed. Valor is available for download on the Google Play Store and iOS App Store.
Hot Take: Bitcoin’s Market Cap Soars in 2023
In 2023, Bitcoin experienced an impressive surge in market capitalization, reaching a peak increase of 172%. This year has been remarkable for digital assets, with Ethereum and other altcoins also showing significant growth. The market surpassed important technical and on-chain pricing models, fueled by the rally since late October. Digital assets outperformed traditional assets throughout the year. Bitcoin transaction volumes remained stagnant until October but have since picked up, indicating an expansion in spot trading interest. With long-term holders accumulating near all-time highs of the bitcoin supply and a majority of coins held in profit, it seems that favorable buy-side support and supply-demand balance have contributed to Bitcoin’s success in 2023.
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