Every week, I will be collecting some news stories / opinion pieces that I have found to be interesting in the crypto world and condensing them down into one easily digestible article. All the article and images are taken from a news source that I like to use and an alternative to CoinTelegram called BeInCrypto.
BeInCrypto is a news website founded in August 2018 that specialises in cryptographic technology, privacy, fintech, and the Internet — among other related topics. The primary goal of the website is to inject transparency into an industry rife with disingenuous reporting, unlabelled sponsored articles, and paid news masquerading as honest journalism. You can visit their website by clicking here or join their new Telegram Trading channel by clicking here. I am also part of that group and like the content they are discussing. There is a lot of news that came out last week, So let's get started!
Bitcoin Addresses with Non-Zero Balances Reach ATH
As Bitcoin continues to attempt to break its all time high price, we see another positive metric in the ecosystem: the number of wallets with a non-zero sum of Bitcoin deposited.
As of Dec. 12, the number of Bitcoin wallets containing a non-zero balance of Bitcoin reached its all time high of 32,925,521. This breaks the previous record of 32,925,198 addresses reached just the day earlier. What do you think about this? You can read the full article by clicking here.
Cardano to Add DeFi Capability with Bondly
Cardano is rolling out a package of updates under the name Goguen. These updates include smart contracts, decentralized applications, and the ability to utilize native tokens. In October, the team announced a timeline for Goguen’s release, which should be before the end of February, 2021. With the Bondly partnership, Cardano now has something being implemented on it from the very beginning. To read more about this, click here.
Microstrategy Ready to Buy $650M of Bitcoin
MicroStrategy has already concluded its sale of $650 million in convertible bonds. The company will use the proceeds from the sale to buy more bitcoin. MicroStrategy is already one of the largest corporate holders of the digital currency. However, the more than 40,000 BTC it holds is clearly not enough for CEO Michael Saylor. To read more about this story, click here.
Russian Officials Given till June 2021 to Declare Their Crypto
Russia’s insistence on crypto asset declaration will see government officials required to disclose their cryptocurrency holdings beginning from 2021. After years of unclear crypto regulations, the country is finally moving towards codified digial asset laws.
According to a decree signed by Russia’s President Vladimir Putin on Dec. 10, government officials have between Jan. 1 and June 30, 2021, to disclose their crypto holdings. What do you think about this? Click here to read more!
Revolut Adds ZRX, XTZ, OMG, and EOS to its Supported Crypto
British financial technology company Revolut has announced support for new cryptocurrencies. Non-US users of the application will now be able to buy 0x Protocol tokens (ZRX), Tezos (XTZ), OMG Network (OMG), and EOS. Which token would you like to see added? You can read more by clicking here.
Massachusetts Mutual Invests $100 Million in Bitcoin through NYDIG
Massachusetts Mutual Life Insurance Co. has become the latest institution to invest in Bitcoin. The almost 170-year-old financial services company just took up a $100 million position in the digital asset. To read more, click here.
Canadian Dollar Stablecoin Launches on Algorand Blockchain
Stablecorp has just announced the launch of its QCAD (Canadian dollar stablecoin) on the Algorand blockchain. It becomes the third stablecoin available on the platform’s main net. To read more about this, click here.
Someone Just Transferred $165 Million in Bitcoin With a $1.20 Transaction Fee
Most Bitcoin evangelists know that one of the leading crypto’s advantages is its ease of use and lack of restrictions when making a transfer.Earlier today (8th of December), a user sent a gigantic $165 million bitcoin transfer in a single transaction. The fee for the transaction was 0.00006520BTC, or about $1.20.
To read more about this, click here.
Monthly DEX Volume Increases to Over $25 Billion in One Year
For many in the crypto space, this has been the year of decentralized finance (DeFi). Data shows that Decentralized Exchanges (DEX) have achieved massive growth in the last six months. Decentralized exchanges (DEX) have been around for years, back to 2017/2018 and even earlier. However, in recent times they’ve been used far more widely thanks to a growing tide of regulation. To read more about this, click here.
Over 100K Ethereum Deposited in Kraken ETH 2.0 Staking Service
Officially launched on Dec. 4, Kraken’s ETH 2.0 staking service has already hit a major milestone with investors depositing over 100,000 ETH, worth an estimated $55 million at current prices, in just four days. To read more about this, click here.
Fidelity Set to Accept Bitcoin for Cash Loans
Fidelity Digital Assets had decided to accept Bitcoin as a form of collateral against cash loans. Fidelity Investments has demonstrated its faith in Bitcoin (BTC) and will begin giving institutional customers the option to put up Bitcoin as collateral against loans. To read more about this, click here.
Grayscale Reportedly Stockpiles Another 1.3K BTC & 100K ETH in 24 Hrs
Data retweeted by Grayscale CEO Gary Silbert suggests that the firm purchased 1,276 more bitcoin over the last day. Elsewhere, there were claims that Grayscale bought another 100,000 Ether. To read more about this, click here.
Ethereum 2.0 Deposit Contract Receiving Approximately 40,000 ETH Per Day
The Ethereum 2.0 Beacon Chain launched last week and is off to a strong start as more users continue to flock to the platform. The current balance of ETH in the deposit contract is closing in on 1.3 million ETH, with the contract receiving almost 40,000 ETH deposited per day. To read more about this, click here.
That is my weekly roundup of the interesting news coming from the crypto world. What do you think about the topics / news stories and what was your favourite article? If you liked the content, please consider following me and tipping the article. Also are you a trader? If you are check out my favourite Telegram Trading chat, where you can discuss and find out more about crypto projects. Click here to start conversations with other crypto traders!
