Two American banks have joined the New York Digital Investment Group (NYDIG) platform to offer Bitcoin custody and trading services to their clients and users. This and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
Cryptocurrencies and altcoins
📍The price of Bitcoin has fallen 11% since its new all-time high on the 20th of this month. Bitcoin (BTC), the cryptocurrency most important in the world, is listed at around $60.100 per unit, showing an 11% decline after its all-time high of $67.200 last Wednesday. However, analysts estimate that the current correction in its price is not a sign of a bear market, so Bitcoin could reach a new all-time high between the end of the year and the beginning of 2022. In the short term, it is possible that the cryptocurrency will touch 50K per BTC again.
Other cryptocurrencies on the market, such as Ethereum (ETH) y Left (LEFT) have a growth of up to 18% in the last week. The price of ETH reached a new historical high last Thursday, surpassing the $4.360 per unit.
Bitcoin and Blockchain Adoption
📍Five Star Bank, from New York and UNIFY Financial Credit Union, from California (United States) offer access to bitcoin through NYDIG. US banks have joined the New York Digital Investment Group (NYDIG) platform to offer Bitcoin custody and trading services to their clients and users. According to reported Jonathan Price, executive vice president of digital banking platform Q2, told The Block Research that customers of Five Star Bank and UNIFY Financial Credit Union will be able to use the banks’ mobile banking apps to buy, sell or hold bitcoins. He also noted that the banks’ platforms allow their users to monitor their bitcoin balances alongside their fiat account balances.
Price said there is a lot of interest in adopting new bitcoin services from banks and that they have a solid portfolio of clients that will join the cryptocurrency innovation by the end of the year. In May, NYDIG reported on a alianza with technology firm FIS to boost the adoption of Bitcoin and cryptocurrencies by traditional banks.
📍Valkyrie Investments' Bitcoin ETF traded nearly $80 million on its first day. The investment firm Valkyrie Investments reported that its Valkyrie Bitcoin Strategy ETF, which began trading on the Nasdaq on Friday under the ticker symbol BTF, traded $78 million on its first day. Shares of the ETF closed near $24.
Valkyrie Investments’ ETF is the second Bitcoin futures ETF approved by the SEC in the United States in the past week. Bloomberg ETF analyst Anthony Rayar said that trading volumes in the U.S. Bitcoin ETFs, BITO and BTF, reflect strong and consistent investor demand for these cryptocurrency investment vehicles. It took the SEC about 8 years to approve a Bitcoin ETF on U.S. soil.
📍Legal solutions company Viplecon tokenizes its shares on the Waves blockchain. Viplecon, an Ecuadorian company that offers legal solutions, announced that it is tokenizing its shares on the community-focused and scalable Waves blockchain. The company will conduct an initial security offering or STO (Security Token Offering) in order to develop a tokenized stock market in Latin America.
NFT and DeFi Markets
📍Reddit is considering creating an NFT platform. Non-fungible tokens, or NFTs, are a global phenomenon that has attracted companies of all kinds. Now, news aggregator and social network Reddit is thinking of joining the trend and launching its own NFT platform. According to a job postingReddit is looking for engineers and leaders with a strong understanding of the “NFT movement.” In the post, Reddit’s creators are looking for people with experience in NFTs to establish a new strategy and start building for the future.
“If you ask us, the NFT movement has just begun, so join our team to get started”, indicates the job offer on the platform.
Cybersecurity
📍Polygon rewards Gerhard Wagner for finding a high-risk bug in the protocol. Polygon developers rewarded white hat hacker Gerhard Wagner, who found a vulnerability in double-spending in the protocol, which could have compromised around $850 million of users' money. The hacker reported about the bug to the developers, who rewarded the hacker with $2 million, as part of Polygon's bug bounty program on Immunefi, a platform focused on the security of smart contracts and protocols DeFi.
📍More than 3 million email addresses associated with CoinMarketCap are traded on hacker forums. Cryptocurrency data platform CoinMarketCap suffered a hack this month, exposing the email addresses of its users. According to the report From the portal Have I Been Pwned, email addresses are traded on various hacker forums. The creators of CoinMarketCap have spoken out on the matter, pointing out that the information extracted by hackers corresponds only to email addresses, without passwords or other personal data of subscribers and users of the platform.
CoinMarketCap published a transparency report where he assures that the email list seems real and that they are investigating how the hackers gained access to it, since there is no evidence of leaks on the platform's servers.
Development and Technology
📍Iota developers can now test smart contracts in beta version. Iota announced the launch of its new smart contract platform in beta, where developers can start creating smart contracts and new features. The IOTA Foundation, led by its co-founder and CEO Dominik Schiener, said which is adding support for the Ethereum Virtual Machine (EVM), to enable the writing of smart contracts in languages such as Solidity, Go (TinyGo) and Rust. The beta version of programmable smart contracts is now available on the IOTA 2.0 DevNet
📍Cardano, Bondly and IO Global develop an eco-friendly alternative for NFTs. The blockchain infrastructure company behind the development of Cardano, Bondly and IO Global, reported on the creation of a cross-chain bridge to connect Cardano with the blockchain Ethereum. The company's goal with the creation of this new bridge is to ensure interoperability between Cardano and Ethereum, to offer developers an ecological alternative for the creation of tokens NFT.
According to reported The company, the new bridge will provide NFT creators with an eco-friendly solution to develop their NFTs, away from the high energy consumption of Ethereum’s Proof of Work protocol. Bondly and IO Global will launch the first collection of green NFTs on the cross-chain bridge, to celebrate the launch of smart contract functionality on Cardano.
Continue reading: Chainalysis invests in Bitcoin to reaffirm commitment to the crypto industry
