Decentral Block Post

Bitcoin (BTC) crashed below $22,000 instantly on Sept. 13 after United States inflation data failed to meet estimates. 

CPI print sparks major crypto rout

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD swiftly falling $1,000 after Consumer Price Index (CPI) inflation for August came in at 8.3% year-on-year.

The consensus was that 8.1% would be the latest figure, and the overshoot suggested that inflation was not slowing at the expected pace.

Nonetheless, versus July, year-on-year growth was still down 0.2%, preserving the overall trend of slowing CPI inflation.

This was not enough to avoid a crypto rout, however, and at the time of writing, Bitcoin was below $21,500, down 4% on the day.

Bitcoin (BTC) continued to battle major resistance on Sep. 13 as markets prepared for United States inflation numbers.

"Serious" whales present new BTC price hurdl

Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it sought to push through $22,500.

Bulls had attempted to vanquish a wall of seller interest in the range just above $22,000, this proving especially stubborn and leading to an overnight consolidation phase.

On-chain monitoring resource Material Indicators highlighted the struggle in a screenshot of the Binance BTC/USD order book the day prior.

For fellow analytics platform Whalemap, meanwhile, it was no wonder that the current range was a sticking point for bulls.

Blockchain technology pioneer Jed McCaleb is shifting some of his focus to a new frontier, space.

The prominent crypto billionaire announced the launch of his new venture “Vast” on Sept. 12, which is aimed at expanding “human habitation in space” — "enabling a future where millions of people are living across the solar system.”

According to a company statement, the space habitation start-up was founded by McCaleb in 2021 and will be tasked with developing the world’s first artificial-gravity space station to essentially allow humans to live and work in space.

McCaleb’s long history of being on the cutting edge of technology began in 2000 when he created eDonkey2000, one of the largest file-sharing networks of the time. In 2007, he founded another company that developed a videogame called The Far Wilds.

He is the creator of Magic: The Gathering Online Exchange, a well-known trading card website that was eventually converted to a Bitcoin exchange called Mt. Gox in 2011. He is also a Ripple Labs co-founder, though he left the company in June 2013.

The total size of tokenized illiquid assets, including real estate and natural resources could reach $16.1 trillion by 2030, according to the Boston Consulting Group (BCG).

In a newly released report from BCG and digital exchange for private markets ADDX, authors including BCG managing director Sumit Kumar and ADDX co-founder Darius Liu noted that “a large chunk of the world’s wealth today is locked in illiquid assets.”

According to the report, illiquid assets include pre-IPO stocks, real estate, private debt, revenues from small and medium businesses, physical art, exotic beverages, private funds, wholesale bonds, and many more. 

Reasons for this asset illiquidity are attributed to factors such as limited affordability for mass investors, lack of wealth manager expertise, limited access — such as when assets are restricted to elite cliques (in the case of fine art and vintage cars), regulatory hurdles, and other scenarios in which users have difficulty acquiring or trading an asset. 

On-chain asset tokenization could solve this problem, a market that surpassed $2.3 billion in 2021 and is expected to reach $5.6 billion by 2026, as per the report.