Blockchain Industry update (Elon Musk, RBI, MicroStrategy, Bitfinex)

Have a read of how Defi market performing and Elon Musk new digital currency announcement this week….

::Ethereum::

Ethereum has just posted a new all-time high of $1,500. At the same time, the value of ETH staked on ETH 2.0 hits $4.3 Billion. This could be the beginning of more gains.

21Shares launches the world’s first Polkadot ETP on Swizerland’s SIX Exchange. 21Shares is a Zug based company with nearly $500 million in assets under management from a dozen ETPs.

Rare Hashmasks Digital Artwork sells for $650K in Ether. The piece itself is chaotic, yet ordered. It invokes a concept of biblical dualism with the demon and halo, said the buyer.

::Others::

Brave browser active user base doubled in 2020, hits 25M per month. The privacy-centric browser allows users to opt out of the surveillance economy, said Brave CEO Brendan Eich.

Insured Finance launches Liquidity Mining Program with 50,000 INFI in Monthly Rewards. These rewards are available to every liquidity provider who locks both ETH and INFI into the Uniswap pool for at least 30 days.

::Blockchain::

Yearn Finance votes to inflate YFI Token supply by 20%. The vote to mint an additional 6,666 YFI in order to fund future development on the Yearn protocol has passed.

Mark Cuban talks Bitcoin HODLers and blockchain stocks in recent AMA. Stocks will be on the blockchain in the future, predicted the billionaire.

Axoni raises $31 million from Deutsche Bank, Intel Capital and more. Axoni’s goal is to streamline ledger systems for global capital markets.

China’s blockchain service network announces Cosmos integration. Cosmos becomes the first public blockchain to be added to the China-only version of the Blockchain-based Service Network.

Theta blockchain launches the first decentralized exchange dubbed ThetaSwap. Blockchain-based video streaming network Theta now has its own decentralized exchange.

::Digital Currency::

The Reserve Bank of India is actively working on a digital currency and will make a decision very soon. Meanwhile, payments giant PayPal is shutting down its payment services within India.

Grayscale has bought 104,990 eth this week since Tuesday, bringing their total holdings to three million eth, worth $5 billion.

::Bitcoin::

Bitwise files for approval to publicly trade its Bitcoin Fund. The fund aims to compete with Grayscale’s Bitcoin Trust and others by offering a 50 basis point lower expense ratio.

Canadian investment firm Accelerate Financial files for Bitcoin ETF. Calgary-based financial services firm Accelerate Financial Technologies is planning to list its Bitcoin ETF on the Toronto Stock Exchange.

Bitcoin’s user base grows faster than the Internet’s, says Willy Woo, and predicted reaching one billion in about four years.

Binance Coin hits all-time highs as BNB surpasses Bitcoin Cash by market cap. Bitcoin Cash is now in danger of being ejected from the top 10 cryptocurrencies by market cap.

BitMEX launched a Dogecoin perpetual swap contact on 4th Feb. The product is coming on the exchange amid the recent spike in interest.

Over $550 Million of Bitcoin flows out of Coinbase Pro. Another half a billion dollar’s worth of Bitcoin was just transferred out of Coinbase Pro, reinforcing the recent bullish trend.

Coin Metrics is now tracking the ‘Real’ Supply of Bitcoin. A new methodology by Coin Metrics suggests that the current Bitcoin supply is only 14.5 million BTC.

$3 Billion Hedge Fund to invest in Bitcoin. Miller Value Funds plans to invest in bitcoin according to their latest filing with the Securities and Exchanges Commission.

MicroStrategy held a conference to share their Bitcoin playbook with other global companies. The event attracted 8,197 attendees from 6,917 enterprises.

Mexico’s third wealthiest man just changed his Twitter Bio to Bitcoin. Ricardo Salinas Pliego is falling deeper into the Bitcoin rabbit hole.

::Cryptocurrency::

Binance quietly launches its crypto-based PayPal rival. The crypto exchange has big hopes for Binance Pay, which is currently in beta.

Elon Musk boosts Dogecoin by 76% with a rocket tweet. The price of DOGE reached around $0.056. The 24-hour trading volume has also exceeded $7B while its market cap currently amounts to $6.4B.

Arcane Crypto listed on Nasdaq First North at $200 Million Valuation. The crypto investment fund joins a small, but growing, segment of crypto-focused firms trading on legacy exchanges.

Bitfinex claims to have fully repaid its Tether loan. The loan triggered a New York Attorney General’s office investigation.

Snoop Dogg and Gene Simmons join Elon’s Musk’s Dogecoin army. DOGE is rallying once again after Elon Musk, Snoop Dogg, and Gene Simmons tweet Doge Army memes.

P2P trading to spike in Nigeria following crypto ban. Following the Central Bank of Nigeria’s ban on banks from processing cryptocurrencies, P2P trading activities increased immensely.

Tether freezes $1.75M USDT stolen from Yearn Finance exploit. This is the second time the company would freeze USDT funds to stop an attack.

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Mansi Nashte
Articles: 57

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