Visa innovates with USDC support / Crypto M&A doubled in 2020 / KLAY reaches $10B market cap

Plus: Fresh funding and ATOM rolls out inter-blockchain communication (IBC)

Inside.com Part of   Network March 29, 2021

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The global crypto market cap is $1.81T 2.51%▲ with a 24hr market volume of 116.16B 6.35%▲. Bitcoin's dominance is currently 59.28% -0.24%▼. Is it alt season yet? CURRENT PRICES BY MARKET CAP # Name Price 24h % 1 Bitcoin BTC $57,481 1.88% ▲ 2 Ethereum ETH $1,785 4.12% ▲ 3 Binance Coin BNB $ 271.51 -0.42% ▼ 4 Cardano ADA $1.20 1.03% ▲ 5 Polkadot DOT $33.99 4.60% ▲ * Prices as of 12:30 p.m. ET.

Visa leads innovation by settling transactions in US Dollar Coin (USDC). Visa is the first major payment network to offer a bridge between fiat currencies and cryptocurrencies. More:  Visa’s new payment processing system uses the ethereum blockchain to allow USDC transaction settlements without needing to convert the cryptocurrency into fiat. In time, a customer with USDC in their wallet (and a card attached to their wallet) will be able to spend USDC with any merchant accepting Visa. The effort is part of an ongoing pilot program with Crypto.com; the companies plan to expand its offering later this year. USDC is the fastest growing digital dollar stablecoin globally, with over 11B USDC currently in circulation.

Image source: Bloomberg  PwC reports that crypto M&A doubled in 2020 with a total value of $1.1B. The average deal size rose 175% from 2019, reaching $52.7M. More: Binance, FTX, and Coinbase accounted for more than 90% of $700M of M&A in 2020. Binance’s acquisition of CoinMarketCap for $400M last year was the largest M&A purchase ever recorded in the industry.  The PwC report found that the majority of M&A activity is taking place in European and Asian markets. As more institutes adopt crypto, 2021 is already anticipated to exceed 2020's explosive growth.

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FRESH FUNDING: Recur, an NFT platform promising perpetual cross-platform royalties for NFT creators raised the largest seed round for an NFT project at $5M. Hex Trust, a digital asset custodian based in Hong Kong, raised $6M in Series A funding.

▲ TOP GAINERS # Name Price 24h % 1 Klaytn KLAY $4.09 13.63% ▲ 2 Kusama KSM $550.43 12.11% ▲ 3 Crypto.com CRO $0.2193 8.13% ▲ 4 Monero XMR $235.85 6.04% ▲ 5 Polkadot DOT $33.99 4.60% ▲ ▼ TOP LOSERS # Name Price 24h % 1 Solana SOL $18.10 5.32%▼ 2 Stellar XLM $0.4034 1.57%▼ 3 VeChain VET $0.09149 0.65%▼ 4 Binance Coin BNB $271.43 0.44%▼ 5 Dodgecoin DOGE $0.05385 0.44%▼ * Limited to cryptocurrencies with a market cap > $4B. Prices as of 12:30 p.m. ET.

Klaytn (KLAY) reached an all-time high above $4 today, becoming the 13th largest cryptocurrency with a market cap of $10B. KLAY reached new highs following a 20% surge over the past 24 hours. More: Support for Klaytn NFTs is expected to come onto OpenSea in the near future. Klaytn is an enterprise-grade, service-centric platform that aims to create a user-friendly blockchain experience through a hybrid of public and private blockchains. Klaytn is one of nine blockchain projects in development by Ground X, the blockchain team of South Korean internet giant Kakao.

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QUICK HITS: More than 500,000 investors have opened accounts with this fintech platform to automate money management with ease. * Beeple held two surprise NFT drops on MakersPlace over the weekend, offering parts of the “EVERYDAYS” project for $7. Some are currently selling at a premium of over 4M% on secondary markets. Cosmos (ATOM) has begun to roll out Inter-Blockchain Communication (IBC), a first in cross-chain technology, after five years of R&D. The Central Bank of the Bahamas announced that the Bahamas Sand Dollar, the first CBDC to be implemented for official use, will achieve full interoperability this week. Excelsior Pass, a COVID-19 test result tracking app developed by the IBM blockchain team in partnership with New York State, is now available for public usage. Find out how brands like Gymshark use Attest to understand fast-changing consumer habits. * *This is a sponsored post

Griffin McShane is a J.D. candidate currently living in Portland, Maine. He is a graduate of Providence College, where he studied both computer science and business. Griffin aspires one day to go to the moon and bring some of his altcoins along for the ride. Editor Charlotte Hayes-Clemens is an editor and writer based in Vancouver. She has dabbled in both the fiction and non-fiction world, having worked at HarperCollins Publishers and more recently as a writing coach for new and self-published authors. Proper semi-colon usage is her hill to die on.

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