This Monday, Bitcoin and the main cryptocurrencies on the market are recovering their value, while billionaire “Ray Dalio” and the governor of the state of Wyoming declare themselves hodlers of the cryptocurrency. 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
📍Cryptocurrency prices are starting to take off once again. As of this writing, Bitcoin (BTC) has recovered about 10% of its price, trading at $39.200 per unit.
Ethereum (ETH) also shows a recovery of more than 25% of its value, with a current price of $2.690. However, the cryptocurrencies with the greatest growth this Monday were Polygon (MATIC), whose value recovered more than 100% reaching 1,80 dollars per unit; Ethereum Classic (ETC), which recovered by more than 55%, worth $77; and dash (DASH), which has grown by more than 40% in the last few hours.
📍Protocol tokens DeFi Unisswap, Maker, Yearn Finance and PancakeSwap also show growth of more than 50%. In fact, the total liquidity locked in DeFi has recovered by 20%. According to data from DeFiPulse, the total value locked in DeFi currently exceeds $59.000 billion.
📍The recent recovery leads analyst Willy Woo to indicate that the cryptocurrency bull cycle is still intact. According to their data, there is a growth in the number of active users on the Bitcoin network.
“Those who don't accept coins are taking advantage of this opportunity to buy the dip", the analyst said. “In case you were wondering, the bull market is very much intact”.
Bitcoin and Blockchain Adoption
📍“Ray Dalio,” one of the world’s largest hedge fund managers, reveals he owns bitcoins. According to his statements, the current crisis prompted him to add some bitcoins to his portfolio. During a interview Speaking to CoinDesk chief content officer Michael J. Casey, Dalio said he would rather own bitcoin than a bond because the cryptocurrency, with its gold-like properties, is looking increasingly attractive as an investment vehicle and store of value.
📍Adding to the revelation of Bitcoin investments is Wyoming Governor Mark Gordon, who claimed to own the precious cryptocurrency. Wyoming's governor declared himself a bitcoin “hodler” during CoinDesk's virtual Consensus conference.
📍For its part, Lawrence Summers, former US Treasury Secretary and former head of the World Bank, says it could be critical to Internet commerceSummers sees bitcoin as a “type of digital gold” whose growth and appreciation will allow it to remain in the financial system for a long time.
📍MicroStrategy CEO Michael Saylor announces the creation of the Bitcoin Mining Council, the first advice for Bitcoin mining, which seeks to guarantee a high level of transparency in the network's energy consumption, in addition to promoting the creation of projects that favor the production of renewable energy to sustain this network over time.
Saylor said that Bitcoin miners in North America have committed to reporting on Bitcoin energy consumption, and agreed to the creation of the Bitcoin Mining Council to promote transparency in energy use and accelerate sustainability initiatives around the world.
📍The US Securities and Exchange Commission (SEC) has received an application for the creation of a “green” Bitcoin ETP, by the firm One River. According to the application In a filing with the SEC, One River wants to “track the performance of bitcoin, as measured by the performance of the MVIS One River Carbon Neutral Bitcoin Index, adjusted for Trust expenses and other liabilities.” Through this index, the company will be able to track the price of bitcoin alongside carbon credits, to offset its carbon footprint.
📍According to the opinion of analysts Goldman Sachs, the shares of companies of cryptocurrencies, They are the best way for investors to gain exposure to the digital world., without suffering from the extreme volatility of digital assets. On CNBC, the US bank's analyst, Will Nance, he pointed that “the best way to gain exposure to cryptocurrency ecosystems” is through crypto stocks.
CBDC and Central Banks
📍South Korea's central bank (BOK) is looking for a partner to boost the development of its digital currency CBDC, according to the report presented by Reuters. According to report, the BOK will select a technology provider through an open tender process to research and develop a pilot platform that will allow it to explore the practicalities of a CBDC.
Rules and Regulations
📍Strong restrictions imposed by China recently cause 3 major crypto mining companies to abandon their operations in the country, and go out to look for new jurisdictions friendly to this activity. At the time of this writing, Huobi, BTC.TOP and HashCow announced the closure of its Bitcoin mining operations for users in mainland China.
Continue reading: China and Iran prepare crackdowns on Bitcoin and cryptocurrency mining
