Bitcoin and cryptocurrency advocate Eric Adams is elected Mayor of New York, while China's central bank reveals that its digital yuan now has some 140 million users. These 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
📍Bitcoin rises to $63K and analysts point to a new bullish trend. This Wednesday, the price of Bitcoin (BTC) climbed up to the $63.540 per unit, reflecting a 3% growth in the last 24 hours. Analysts at GlassNode, one of the most important cryptocurrency analysis firms, believe that the BTC price is consolidating near the 60K mark and that a new bullish trend is likely forming that will push its value to new highs.
In her report Week On-Chain #44, GlassNode notes that constructive developments around Bitcoin, both in derivatives markets and spot markets, highlight the possibility of further upside in the BTC price. The cryptocurrency's value saw a boost of over 40% in the month of October following the approval of Bitcoin futures ETFs in the United States. Additionally, the cryptocurrency is about to receive the most significant upgrade seen in years, Taproot, on November 16. GlassNode analysts also point to the surge in the price of Ethereum (ETH), which reached a new all-time high of $4.674 for ether this Wednesday.
Bitcoin and Blockchain Adoption
📍New York celebrates the arrival of its first pro-Bitcoin Mayor. Eric Adams was elected mayor of New York City (United States) this week. During his campaign, Eric Adams became known as a staunch defender of Bitcoin and the cryptocurrencies, and pledged to transform New York, the country's largest city, into a Bitcoin city during his term, if elected mayor.
Segun la agency de noticias The Associated Press, which provides reliable data on electoral races and much more to Chainlink, the city's new mayor said who will keep his promises and do things to make New York a progressive and innovative city.
CBDC and Central Banks
📍The e-CNY, China's CBDC, has more than 140 million users. According to statistics revealed by the Central Bank of China (PboC), by the end of October some 140 million people had already opened wallets or Wallets to receive the future central bank digital currency (CBDC) from China, known as the digital yuan or e-CNY. The bank also reported that the volume of transactions carried out until last month with the digital yuan amounted to a total of 62.000 billion yuan or approximately 9.700 billion dollars.
During the Hong Kong Fintech Week conference, Mu Changchun, director general of the PboC's digital currency institute, said there was no official launch date for the digital currency, reported Reuters. However, China's CBDC is expected to be ready for the 2022 Beijing Winter Games in February next year.
Cybersecurity
📍Computer experts point out possible attacks on the Ethereum PoS network. Several computer experts published a report explaining possible vectors of attacks on the network PoS (Proof of Stake) of Ethereum. According to the report, block reorganization attacks, liveness attacks, or a combination of both, are possible on Ethereum 2.0 due to some issues in the validator consensus.
The report titled Three Attacks on Proof-of-Stake Ethereum It was developed by experts from Stanford University and members of the Ethereum Foundation.
Development and Technology
📍Chainalysis expands its operations in Australia. Chainalysis, the forensic analysis firm in blockchainChainalysis is opening a new headquarters in Canberra, the capital of Australia, to strengthen its presence in the Pacific. The company will support the development and supervision of the crypto industry in the region, which has experienced exponential growth in the last year. In addition to this, the firm is also partnering with Commonwealth Bank to open Australia's first cryptocurrency retail bank. With this alliance, Chainalysis aims to offer access to the purchase, sale and storage of cryptocurrencies to its Australian customers through the CommBank application.
Chainalysis raised $100 million last June in a funding round that raised the company’s valuation to $4.200 billion. The company said the funds raised in the round would go toward optimizing its cryptocurrency monitoring and analysis tools and services, as well as international expansion and more.
Rules and Regulations
📍In Hong Kong, the Securities and Futures Commission (SFC) will re-evaluate its regulations surrounding the crypto industry. The high demand and interest in cryptocurrencies is prompting the Hong Kong SFC to review and re-evaluate its laws and regulations applicable to cryptocurrencies.
According to South China Morning News, SFC Deputy Executive Director Julia Leung Fung-yee, assured The re-evaluation will allow the Commission to determine whether its laws remain adequate to regulate and supervise the crypto market. The Commission is reportedly considering allowing investors to enter crypto-related ETFs (exchange-traded funds).
Continue reading: Francis Suarez, mayor of Miami, will accept 100% of his salary in Bitcoin
