While The Badman finishes up his summer internship at Scruffy’s Murphy’s, I’m keeping an eye on crypto movements just in case they get invaded by Putin … or maybe China implements a zero-Crypto policy or they just go to US$1 million as Cathy Wood always intended...

Here’s what I’ve got so far.

Coin Telegraph is reporting that Bitcoin volatility is setting  “a new record low in what is being called Do Nothing December.”

Everything is great apparently and cheery holiday crypto holders are reversing their exchange habits so they can “rapidly adjust to the current climate.”

This festive Christmas climate, according to cointelegraph.com is inspiring BTC withdrawals from exchange wallets to entirely reverse the FTX drama-inspired surge in withdrawls, which have seen exchanges bleeding out for some 5 or 6 weeks now.

After outflows from platforms peaked in mid-November at circa 142,7900 BTC on November 14, those rushes to the exit are less than 10 x that volume according to trading platform data compiled by Glassnode.

“On Dec. 25, the latest date for which numbers are available, total exchange outflows came in at just 9,352 BTC — a drop of 93.5%,” the crypto website says.

On the other hand, the folks at Forbes.com are watching bitcoin have its worst Christmas in a long time. The value of BTC has crashed to “lows not seen for more than two years.”

Forbes reports that with the $2 trillion crypto crash is still triggering all kinds of fear and loathing, and that anxiety has now spread to FTX rival Binance.

Bankman-Fried’s arch nemesis, Binance owner Justin Sun –  has reportedly poured some US$300mn into BTC and his exchange in what Forbes calls a desperate attempt to calm crypto market fears.

So following my intensive Xmas research, I’m going to say crypto seems to still be… somewhat volatile.

Going out on a limb, one of the probs appears to be it doesn’t actually do much and there ain’t a lot digital currencies can be used for in the day-to-day business of life.

On that front, a company called Forex Suggest says it’s just analysed how widely cryptocurrencies have been adopted and which industries are most readily adapting to crypto, which coins are most commonly accepted and which countries business sectors have adjusted quickest. 

They’ve put together a list of countries (and some 250 companies) currently accepting crypto as currency.

Here we go top 10 countries accepting payments by crypto-currencies % share 

 

 

 

Via Forex Suggest

Top 10 companies utilising crypto-currencies 

Via Forex Suggest

1. Xbox (Microsoft)

Market Cap: $1.811 trillion

The biggest company that has started accepting crypto in some form is Microsoft, which is worth $1.811 trillion globally. Xbox users are able to convert into credits on the Microsoft store which are then usable on the Xbox marketplace, meaning you can use crypto to fund your gaming hobby.

As one of the largest companies on the planet and a business built on providing some of the most era-defining consumer tech, it should come as no surprise that Microsoft would want to test the waters when it came to incorporating cryptocurrency payments into their business.

2. Whole Foods (Amazon)

Market Cap: $985.790 billion

The second biggest company to accept cryptocurrency is Amazon, which is worth an enormous $985.790 billion. This is done through their health-conscious grocery subsidiary Whole Foods, where customers are able to pay with Bitcoin using the SPEDN app.

If Amazon likes what it sees from the acceptance of Bitcoin at Whole Foods, we could see a further rollout of crypto acceptance in other parts of the business such as its own grocery service, Amazon Fresh, audiobook and podcast service Audible, or streaming service Amazon Prime.

3. Home Depot

Market Cap: $319.097 billion

Home Depot is the third largest publicly traded company to accept cryptocurrency with a market cap of $319.097 billion. As the largest home improvement retailer in the United States, with a considerable presence in other markets such as Canada and Mexico, Home Depot has a huge customer base, many of which are interested in using cryptocurrency to fund their home improvements. Now, Home Depot customers are able to pay with Bitcoin in-store using the Flexa checkout systems.

BTC is trading pretty flat on the 27th of December in a frozen out New York, perhaps with a slightly positive bias – up 0.05% over the last 24 hours – at $16,870.91

 

Via CoinMarketCap

The BTC market cap today remains under the US$1 trillion mark.