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Daily Dose: Just Crypto It

Price is hovering near the immediate support level around 7,100 - 7,000 in the daily. If the daily makes a weak close, it is likely for BTC to hit below 7,000 again as it appears to be in a downward channel. Otherwise, support is respected and the current range remains; resistance around 7,500 - 7,600. Intraday chart (4H) also shows an interesting view with a more clear price structure toward the support level indicated in the daily (S1).

Global market cap is at $197B, while BTC's market cap is at $132B.

Nike has patented shoes that are tokenized as a non-fungible token (NFT) on the Ethereum blockchain, dubbed CryptoKicks. The technology in the document describes an Ethereum ERC721 or ERC1155 token used to authenticate and transact a physical shoe. The token would then be unlocked with the purchase of the shoe by linking a 10-digit shoe identification code with the owner identification code. When the footwear is sold, ownership of the digital token can be passed on alongside the physical product.

Nike borrowed the idea for this project from the blockchain collectible cats game CryptoKitties, and Nike further suggests that the shoes, like CryptoKitties, can be 'bred' with each other to create a 'shoe offspring' and have that made as a new pair of custom shoes.

The asset management wing of French financial services firm Napoleon Group has launched a new fund tied to Chicago Mercantile's (CME) cash-settled bitcoin futures. According to the fund's prospectus, the fund seeks exposure to bitcoin price movements without holding any actual bitcoin.

The "Napoleon Bitcoin Fund" began trading on Dec. 6 with a minimum of €100,000 ($110,000) buy-in for professional investors who must reside in France. Cross-border trading is not allowed for the fund.

Bitmain co-founder Wu Jihan has emerged as the CEO of Bitmain, the Chinese mining giant. This news comes weeks after claims that former co-founder Micree Zhan Ketuan had been forcefully removed as the chairman and legal representative of the company. Jihan announced that Zhan stepped down from his leadership role at the company in an email last month, and Jihan further confirmed this in a public appearance at a private event last Saturday.

This Daily Dose was brought to you by our partner SCI News Channel.


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