The price of Bitcoin, Ethereum and the main cryptocurrencies on the market show a slight recovery in the last few hours. 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.
Bitcoin, Ethereum and the state of the crypto market
📍Bitcoin is trading above $17.000. Ethereum and other top 10 cryptocurrencies are up more than 10% in the past 24 hours. At the time of writing, the price of Bitcoin has recovered nearly 8% of its value in the past few hours. Data from CoinMarketCap shows that the market’s top cryptocurrency is trading at around $17.600.
Bitcoin price hit two-year lows following the collapse of the FTX exchange and Binance's withdrawal from the acquisition agreement of the company.
Source: CoinMarketCap
However, as analysts point out, it remains to be seen how the market will evolve in the face of the problems it currently faces.
Anthony Pompliano, a leading Bitcoin investor, entrepreneur, and evangelist, took to Twitter to say that he believes Bitcoin and cryptocurrencies will bounce back from this difficult time and thrive in the future. However, Pompliano also highlighted that many people are not yet aware of the damage that has been done this week to institutional interest in both Bitcoin and the broader crypto ecosystem with the collapse of FTX.
Marathon Becomes 3rd Largest Publicly Traded Bitcoin Holder
📍Marathon Patente Group has become the third public company with the most bitcoins. The American bitcoin mining company holds 11.300 BTC, an amount that was revealed by its CEO, Fred Thiel, during the presentation of Marathon Patent Group's third quarter earnings report.
Although Marathon's production of new bitcoins was significantly reduced, compared to previous periods, the 616 BTC that the company produced with its activities in Q3 have earned it the 3rd place as the public company with the most bitcoins, after MicroStrategy and Galaxy Digital Holdings. The company also experienced its most productive month in October, mining a total amount of 615 BTC.
Marathon Patent Group has surpassed Tesla, which currently owns 10.725 bitcoins. Marathon's CEO assured that the company has kept all the bitcoins mined on the network and has not sold its holdings of the cryptocurrency.
AllianceBlock Launches Digital Identity Solution to Facilitate Compliance in DeFi
📍The founder of the AllianceBlock protocol has introduced Trustless IDentity Verification. This is a blockchain-based identity solution that is designed to facilitate compliance within the decentralized finance ecosystem. With this solution, AllianceBlock seeks to move towards self-regulation and drive the construction of a fully end-to-end identity verification infrastructure for the blockchain industry.
Trustless IDentity Verification was officially launched on mainnet this Thursday.
Banking holding company Capital One wants to enter the Metaverse
📍Capital One has filed a patent application with the USPTO, showing its interest in the Metaverse and new technologies. Capital One's patent application to the U.S. Patent and Trademark Office outlines the bank holding company's interest in creating products and services for the virtual world.
Specifically, Capital One's patent covers the creation of NFT tokens, the construction of a virtual space in the Metaverse from which to provide financial information to its visitors, and the provision of banking services, such as car financing and the issuance and servicing of debit and credit cards, among others.
Mubadala Capital invests in Web3
📍The United Arab Emirates sovereign wealth fund has led a funding round for Ramp Network, a company focused on Web3 accessibility. Ramp Network has raised $70 million from leading investment firms including Mubadala Capital. The UK-based company said the funds will be used to strengthen its senior team, integrate support for new local payment methods to reduce friction and make its products and services more accessible, and to continue driving mass adoption of cryptocurrencies, blockchain and Web3.
Mubadala Capital is a sovereign investor managing a diverse portfolio of assets in the UAE and abroad.
Continue reading: What if governments have more Bitcoin than exchanges?
IMPORTANT: The content of this article is for informational purposes only and, in no case, what is written here should be taken as investment advice or recommendations. Bit2Me News reminds you that before making any investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.
