London, UK, ZEX PR WIRE – The latest cryptocurrency update is that Bitcoin was up by 16% in a matter of minutes before the markets quickly corrected and gave it back. FinancialCentre broker Michael Hirsch say the S&P 500, meanwhile, has rallied 4% this week to bring the index back to levels not seen since last October.
Cryptocurrency is definitely on the rise, it seems. The latest news reports show that Coinbase, which has already handled over $25 billion in cryptocurrency trades, has received approval to become a regulated broker-dealer by the U.S. Securities and Exchange Commission (SEC).
This means that they will finally be able to list tokens deemed as securities by the commission, including “Coinbase will immediately begin the process of obtaining regulatory approval to offer blockchain-based securities,” Coinbase said in a blog post.
This move was highly anticipated by investors and cryptocurrency speculators alike when rumors circulated that this announcement would be made in conjunction with its new listing policy change.
The company has also reported that more people participated in their latest funding round than combined previous rounds. Undoubtedly, investors are excited to see how the SEC will handle cryptocurrency and its regulation going forward.
Binance is quickly becoming the preferred exchange for many of the world’s cryptocurrency enthusiasts. The platform has experienced exponential user growth in 2018 by offering its traders a quick, efficient, and secure exchange service.
This past week the company announced that trading volume for Binance Coin (BNB), which is used to pay transaction fees on the platform, surpassed $1 billion. It was reported earlier this month that there are more users of BNB than there are of bitcoin itself. In 2021, Binance plans to introduce a new token used as actual currency on the exchange (instead of simply digital money for trades).
It also looks like this week they have listened to their users’ patience with crypto withdrawals. The exchange announced that they are working hard to improve and accelerate processing times. “We’ve already sent out most of the withdrawals that were stuck in the withdrawal queue over the past week, and we are still working hard to speed up this process,”
The ambitious and exciting Ethereum DAO project is already being copied and used as a template for new decentralized communities. This past week, two new major projects were announced: A new decentralized exchange built on Ethereum’s blockchain and a decentralized, global lending market.
DAOstack is a company that provides open-source tools for managing DAOs (decentralized autonomous organizations). It has raised $6 million in its initial coin offering pre-sale to create what it calls the “WordPress of DAOs.”
Arcadia is a new decentralized marketplace for peer-to-peer global lending and borrowing. It has raised approximately $1 million in an initial coin offering to build its platform on the Ethereum blockchain. Arcadia’s goal is to allow people worldwide to benefit from low-interest loans while also providing them with a secondary marketplace to re-sell their loaned cryptocurrency for a profit.
In a recent interview with CNBC, the BTCC Exchange CEO Bobby Lee said Bitcoin would hit $160,000 by 2021. This is an exceptionally bullish statement considering the current price of Bitcoin today: $10,382.
Assuming this prediction holds and you could get in on the low price of Bitcoin today, you would have to multiply your investment by 16x to reach his presumed future value. However, it’s important to note that while this prediction appears highly optimistic, Bobby Lee has made his fair share of correct predictions in the past.
This isn’t the first time Mr. Lee has expressed his fervent support for cryptocurrencies and blockchain technology. He has been outspoken on social media and at conferences over the last few years, claiming that the market will be worth hundreds of billions, if not trillions.
A new study reveals that nearly 0.5% of all the electricity used in the world goes to cryptocurrency mining. This is undoubtedly an enormous amount of energy, especially when you consider how many different types (altcoins) of cryptocurrency exist today and what portion each comprises of the global cryptocurrency market.
For those who prefer this method of storing their wealth, the newest version of Ledger hardware wallets will also ship with a touchscreen for easy use by novice users. This announcement comes just months after Ledger unveiled its latest device, the Ledger Nano X, which is also being shipped with a touch display. This update to the newest Nano S device will also include native apps for various cryptocurrencies (Bitcoin, Ethereum, Ripple, Dogecoin, and ERC20 tokens).
The company recently announced that it had raised $110 million in a Series B funding round led by Sequoia Capital. Ledger CEO Eric Larchevêque stated: “We are honored that Ledger has garnered the trust of Sequoia, which has been instrumental in the growth of many tech giants. This strategic partnership enables us to fully leverage our combined market experience and resources to shape the future of blockchain technology.”
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