• Sberbank, Russia’s largest banking establishment, is planning to launch its decentralized finance (DeFi) platform by May.
• Product Director of the Blockchain Laboratory of Sberbank Konstantin Klimenko stated that the project will be in beta testing phase until March and then fully open at the end of April.
• In March 2021, Sberbank obtained a license from the Bank of Russia to operate as a digital asset exchange with permission to issue its own digital token and in December 2020, they launched their first blockchain ETF.

Sberbank Plans DeFi Platform Launch for May

Sberbank, Russia’s biggest banking establishment, is ready to have its decentralized finance (DeFi) platform operational by May. According to a report on February 3 by the Russian news agency Interfax, the Russian majority state-owned bank plans to roll out the project in multiple steps based on statements by the Product Director of the Blockchain Laboratory of Sberbank, Konstantin Klimenko.

Beta Testing Phase

Speaking at the 7th Perm Economic Congress on Friday, Klimenko stated Sberbank’s mission of making Russia the leading nation in DeFi operations. He then commented on the highly anticipated project, saying it was in the closed beta testing phase, with open testing set to begin in March. “From March 1, we are moving into the next phase”, he said,”it will no longer be beta testing but open testing.” Klimenko also mentioned that Sberbank’s DeFi platform would start by providing compatibility with only MetaMask wallet and plans to integrate it with Ethereum blockchain enabling seamless transfer of smart contracts and other projects within Ethereum ecosystem.

Asset Management Ventures

Sberbank is Russia’s largest bank and third largest bank in Europe with assets under management fixed at $559 billion USD in 2021. Launching DeFi platform only represents latest foray into blockchain space as In March 2022 they obtained license from Bank Of Russia to operate as digital asset exchange and permission to issue own digital token while three months before this development Sber Asset Management announced launch of first blockchain ETF providing investors exposure portfolio leading blockchain companies shielding them severe effects crypto market volatility.

Digital Token And Exchange Licence

In December 2020 ,SBER Asset Management launched their first blockchain ETF which provides investors exposure portfolio leading blockchain companies like Coinbase & Galaxy Digital while shielding them from severe effects crypto market volatility . In addition ,March 2022 saw them obtaining licence from Bank Of Russia for operating as digital asset exchange along with permission for issuing own digital token .

Conclusion

Through these ventures ,SBER has established itself as one of major players in global blockchain space . By launching their decentralised finance platform ,they are taking yet another step towards becoming leader nation when it comes running DeFI operations .

• Bitcoin is leading the 2023 rally of the cryptocurrency market and is currently trading at about $23,722.
• Crypto Twitter is abuzz with excitement as some analysts predict that BTC could reach $1.3 million by the end of the year.
• CoinGlass data shows that a total of $29.64 million of short positions were liquidated as Bitcoin broke through $23k.

The cryptocurrency market is seeing a major surge this year, with Bitcoin leading the charge. As of writing, BTC is trading at $23,742, which is a significant increase from its August 2022 support level of $22,722. This surge has sparked much enthusiasm on Crypto Twitter, with some analysts predicting that BTC could reach $1.3 million by the end of the year. Although many investors are feeling bullish about the situation, there are those who are more wary about the current rally. There is a fear that this could be a bull trap, setting up many long-term holders for losses in the long run.

Despite the caution, the bullish momentum continues to grow. BTC is expected to make one final push towards $25,000, before potentially settling at that price. Meanwhile, CoinGlass data shows that a total of $29.64 million of short positions were liquidated as Bitcoin broke through $23k. This signifies that many bears are being forced to go long as the crypto king continues to climb. As of writing, the crypto king has already climbed 42% upwards and it is expected to continue this trend in the coming months.

It is clear that the cryptocurrency market is in a resurgence, with Bitcoin leading the charge. This has led to a lot of enthusiasm from Crypto Twitter, but also a certain amount of caution. Despite this, Bitcoin is expected to continue its climb, potentially reaching $25,000 before the end of the year. As more and more bears are forced to go long, it is likely that the crypto king will continue to surge in the months ahead.

• Cryptocurrencies continue to do well in the first few weeks of 2023, prompting many to look for reliable digital assets to invest in.
• For the final week of January, five top cryptos have been identified that have a strong potential to maintain their double-digit gains as the month wraps up.
• Bitcoin (BTC), OKB (OKB), Aave (AAVE), Ethereum (ETH), and Polkadot (DOT) have all accumulated a total of 100% increase in the last week.

The cryptocurrency market is still going strong in the first few weeks of 2023, giving investors and traders alike an opportunity to find reliable digital assets to invest in. As the month of January comes to a close, many are looking for cryptos that can offer a good return on their investments and sustain the double-digit gains they have enjoyed recently.

After monitoring the market, here are five cryptos with the potential to maintain their upward trajectory in the final week of the month:

Bitcoin (BTC) – Market Cap: $441 Billion

Bitcoin has been the talk of the town as of late, with the leading crypto flexing its muscles and topping the list of our five top cryptos for this week. Since the beginning of the year, the top crypto has enjoyed a significant price increase, leaving many market analysts feeling hopeful about the potential for Bitcoin in the months ahead. As of writing, Bitcoin is just shy of the $23,000 mark with a price of $22,915, having gained 10.0% in the last seven days. Despite the impressive gain, it is still a considerable distance away from its record-setting end-of-day high of over $67,000 in 2021.

OKB (OKB) – Market Cap: $8.9 Billion

OKB is an ERC-20 token owned by the OK Blockchain Foundation and is the native cryptocurrency of OKEx, one of the largest crypto exchanges in the world. OKEx is currently ranked third in terms of liquidity, fourth in terms of trading volume, and offers hundreds of trading pairs for users. OKB has seen a lot of success in the last week, as the token has risen by a total of 20.4% to reach $25.45.

Aave (AAVE) – Market Cap: $6.9 Billion

Aave is an Ethereum-based DeFi protocol that allows users to borrow, lend, and earn interest on their digital assets. The token has seen a huge surge in the last week, with its price increasing by a total of 16.2% to reach $382.9. This has pushed Aave’s market cap to over $6.9 billion and cemented its position as the fourth-largest DeFi project by market value.

Ethereum (ETH) – Market Cap: $284 Billion

Ethereum has been one of the most bullish cryptos in the last week, enjoying gains of over 20%. At the time of writing, ETH is trading at $1,220.2, up 20.6% in the last seven days. The second-largest crypto by market cap has been one of the most profitable investments of 2021 and is likely to remain so in the coming weeks.

Polkadot (DOT) – Market Cap: $32.5 Billion

Polkadot, the fifth-largest crypto by market cap, is also one of the most promising projects of 2021. The token has skyrocketed in the last week, with its price increasing by a total of 23.9% to reach $24.8. This has pushed the Polkadot’s market value to over $32.5 billion and made it the third-largest DeFi project by market capitalization.

These five cryptos have all enjoyed considerable price increases in the last week and are poised to remain profitable investments for the rest of the month. Investors should keep an eye on these digital assets as the month draws to a close, as they could potentially offer great returns in the coming weeks.

• Bitcoin Mining Council has released quarterly reports showing that Bitcoin is powered by 60% green energy.
• Virunga National Park has become the first national park in the world to recognize the potential of Bitcoin mining.
• The park’s director, Emmanuel de Merode, explains that the park has been hard-pressed in recent years and desperately needed money.

Virunga National Park, located in the middle of the Congo Basin and the second largest rainforest in the world after the Amazon, has become the first national park in the world to recognize the potential of Bitcoin mining. This bold move is a testament to the advantages Bitcoin can bring to an area that is in desperate need of resources and foreign investment.

The Bitcoin Mining Council, initiated by Michael Saylor, recently released quarterly reports showing that Bitcoin is powered by almost 60% green energy. This is a significant step towards alleviating the concerns of those who criticized the energy consumption of Bitcoin mining.

The park is in a volatile region known for corruption and increasing deforestation, where foreign investment is as rare as power grids and a stable government. The park’s director, Emmanuel de Merode, explains that due to the loss of tourist revenue from disease outbreaks such as Ebola, the lockdown due to COVID-19, and kidnappings by rebels, the park has been hard-pressed in recent years and desperately needed money. As such, de Merode decided to bet big on Bitcoin mining, which is powered by a giant hydroelectric plant on the same mountain as the park.

Thousands of powerful computers have been housed in 10 shipping containers that sit in the middle of the jungle. This Bitcoin mine has the potential to bring in much-needed funds to support nature, the park’s endangered mountain gorillas, and the resident community. Not only that, but it also has the potential to drive sustainable developments in the region, such as the construction of roads, schools, and health centers.

It remains to be seen if other national parks will follow Virunga’s example and use Bitcoin mining as a way to bring in much-needed funds. However, this is a prime example of how Bitcoin mining can do big wonders, even on a small scale. With the Bitcoin Mining Council’s reports showing that the majority of Bitcoin mining is powered by green energy, it is clear that there are many potential benefits to be gained from this technology.

• Hong Kong is expressing interest in becoming a global crypto hub by allowing newer crypto companies and startups to open in the city.
• Paul Chan, Hong Kong’s Financial Secretary, recently spoke at the Web3 forum in Cyberport and reiterated the city’s pro-crypto stance.
• The new licensing regime requires crypto exchanges to remain in sync with the current licensing rules and regulations.

Hong Kong is making strong strides towards becoming a global crypto hub, as the city is taking a pro-crypto stance and introducing a new licensing regime for virtual asset services. This move is aimed at encouraging newer crypto companies and startups to open up in the city, thereby increasing the retail participation in the crypto space.

Paul Chan, Hong Kong’s Financial Secretary, recently spoke at the Web3 forum in Cyberport and reiterated the city’s pro-crypto stance. He mentioned that the city policy statement has been well received by tech firms and startups, who are considering shifting their headquarters and expanding to Hong Kong. However, the names of the firms were not disclosed.

The city has also completed the legislative work necessary to set up a licensing regime for the virtual asset services it provides. This new regime requires crypto exchanges to constantly be in sync with the present licensing rules and regulations. In order to be eligible for licensing, exchanges must meet certain criteria, such as having sufficient capital and sufficient internal control systems. The exchanges must also be registered with the Securities and Futures Commission and must comply with the anti-money laundering regulations.

The news of Hong Kong’s efforts to become a global crypto hub comes as the Singapore crypto market has faltered due to the fall of FTX. Despite this, the city remains optimistic and is actively encouraging the crypto sector to thrive. By opening up to newer crypto companies or startups, Hong Kong could potentially increase crypto retail participation in the city and become a major international crypto hub.

• Bitcoin 7-day volatility has reached a low of 0.7%, the lowest observed since July 2020, two and a half years ago.
• This is according to the latest weekly report from Arcane Research, which shows that both the weekly and monthly Bitcoin volatilities have sharply declined in the last few weeks.
• Low volatility suggests that the price of the crypto hasn’t been showing many returns in recent days.

The crypto market has been observing a period of relative calm, with Bitcoin’s price stuck in endless consolidation. According to the latest weekly report from Arcane Research, the BTC volatility has sharply declined recently and the 7-day version of the metric currently has a value of 0.7%, the lowest observed since July 2020, two and a half years ago.

The “volatility” here is a metric that measures the deviation in the daily returns for Bitcoin from the average over a specified period. This rolling average period can be of any length, but the most useful versions of the metric are the ones taken over 7 days and 30 days. When the value of the indicator is high, it means BTC is currently observing large fluctuations compared to the average recently. On the other hand, low values suggest the price of the crypto hasn’t been showing many returns in recent days. As a result of this low volatility, trading during these periods involves less risk than in ones with more volatile price action.

The graph provided by Arcane Research’s “Ahead of the Curve” report demonstrates the trend in the 7-day and 30-day Bitcoin volatilities over the past year. It is clear that both the weekly and monthly Bitcoin volatilities have sharply declined in the last few weeks. This low volatility suggests that the price of the crypto hasn’t been showing many returns in recent days.

Investors who are in the market for the long-term may be pleased to see that the market is taking its time and is not making any drastic moves. However, traders who are more active in the market may be seeking more volatility and return on their investments.

While the current low volatility may seem like a blessing to investors, it is important to note that Bitcoin is a highly volatile asset and its price could quickly shift in either direction. As such, investors should remain vigilant and monitor their investments closely to ensure they are not exposed to too much risk.

• Sam Bankman Fried, former CEO of FTX, appeared before a federal court in New York and pleaded not guilty to eight charges, including those related to wire fraud and conspiracy to commit fraud.
• Following his extradition from the Bahamas, Bankman Fried was granted a $250 million bail and released under the custody of his parents.
• Judge Kaplan accepted SBF’s plea and set the trial date for October 2, 2023.

Sam Bankman Fried, the former CEO of FTX, recently appeared before a federal court in New York to face a set of eight charges, including those related to wire fraud and conspiracy to commit fraud. The former executive pleaded not guilty to all charges, and the judge accepted his plea.

The charges were the result of an investigation into the collapse of the crypto exchange, which allegedly caused users to lose billions of dollars. It was also alleged that Bankman Fried had used customers’ funds to prompt up his trading arm, Alameda Research.

Following his extradition from the Bahamas, Bankman Fried was granted a $250 million bail and released under the custody of his parents. This was met with controversy, as many FTX users felt that Bankman Fried was to blame for their losses.

Judge Kaplan accepted Bankman Fried’s plea and set the trial date for October 2, 2023. It remains to be seen if the former FTX executive will stick to his plea or change it later as part of an agreement with law enforcement agencies.

• Shiba Inu founder Shytoshi Kusama announced the upcoming launch of Shibarium, an L2 scaling solution for the Shiba Inu ecosystem.
• ETH whales accumulated SHIB, putting it in the top 10 ranking of the most held token among 2,000 whales in the last 24 hours.
• Shibarium offers utility, better throughput, and metaverse developments, not to mention games, with a deflationary burning of the token as a crucial part.

On December 29, Shiba Inu founder Shytoshi Kusama announced the upcoming launch of Shibarium, an L2 scaling solution for the Shiba Inu ecosystem. This exciting news was met with a strong response from ETH whales, who accumulated SHIB and put it in the top 10 ranking of the most held token among 2,000 whales in the last 24 hours.

The main objective of Shibarium is to provide the Shiba Inu community a robust ecosystem for them to participate in. It promises utility, better throughput, and metaverse developments, not to mention games. To make sure that the system remains healthy, Shibarium has a deflationary burning of the token as a crucial part. In the past 24 hours, there have been a total of 182,339,090 $SHIB tokens burned and 11 transactions.

The launch of Shibarium has been highly anticipated by the Shiba Inu community, who see it as a major milestone in their journey to distance itself from its memecoin origins. The close implementation of Shibarium brings the SHIB community closer to this goal, and many are wondering what this could bring on the table for SHIB in terms of price improvement.

Only time will tell if Shibarium will be successful in its mission, but in the meantime, members of the community are encouraged to stay informed and up-to-date about all the latest developments.