With a growth of more than 20% in the last few hours, Bitcoin reached a new all-time high of $34.684 USD, while Coinbase is being sued by a user for selling XRP as an unregistered security in the United States. These and more news in this practical summary so that you are always informed with the most recent events that occur within the crypto world.
📍 At the time of this edition, the price of Bitcoin (BTC) made a new historic move, marking a record of $34.684 USD per unit, for this January 3rd, its 12th anniversary.
Bitcoin, which only two weeks ago reached its 2017 all-time high, has now surpassed that value by more than 65%, breaking through the psychological resistance level of $30.000 USD, which was expected by the end of the year. Now, according to the opinion of several analysts, since Bitcoin broke through this level without much difficulty, the market can expect a higher rally in the coming days. Meanwhile, institutional investment this year will continue to grow, with companies such as One River and MicroStrategy already preparing new investments in Bitcoin.
📍 With this new value, Bitcoin's market capitalization now exceeds $635 billion, positioning itself far above multi-billion dollar companies like Visa, MasterCard, JP Morgan Chase Co y Berkshire Hathaway, whose CEO, famed investor Warren Buffett, had mocked Bitcoin in the past, calling the cryptocurrency as “rat poison squared.”
📍 A few days after the SEC made public its demand against Ripple, and several exchanges, including Coinbase, suspended trading operations with XRP, a citizen of Missouri he presented a lawsuit against Coinbase, alleging that the company allowed the sale of XRP knowing that it was an unregistered security and not a commodity. The citizen who filed the lawsuit, named Thomas C. Sandoval, alleges that Coinbase offered XRP as a security in the United States and made huge profits from it, and accuses it of violating unfair competition laws in the state of California.
Stephen Palley, a partner at a major law firm in Washington DC, points out that, for the moment, the SEC's priority is Ripple, and that Coinbase has a fairly good track record with US regulators and authorities, so Thomas C. Sandoval's lawsuit could remain an internal process between the parties.
📍 Ryan WatkinsAnalyst of Messaria, an analytics and data company for investment in cryptocurrencies, , states that in 2021 institutional investment in cryptocurrencies, and especially in Ethereum, will begin to grow significantly. According to the analyst, the announcement by the Chicago Mercantile Exchange, CME Group, to launch Ether futures in February of this year, will give a major boost to institutional investment in the second most important cryptocurrency on the market, which will drive up its price.
The analyst also highlighted that the growing institutional interest seen in Bitcoin in 2020 will significantly boost confidence and interest in investing in other cryptocurrencies on the market.
📍 For this 2021, the analysts They also expect decentralized finance ecosystems (DeFi) become even more consolidated and play a more influential role within the digital industry than seen during 2020. Matthew Lam, an analyst at the OKEx exchange, believes that 2020 was the year of the awakening and progressive growth of DeFi, but that 2021 will be the year of the “harvest”, especially in automated markets (AMM) and price oracles based on blockchain.
For his part, Ontology's marketing manager, Raindy Lu, notes that the protocol will continue to drive the development of decentralized applications (dApps) focused on digital identity and data protection to continue driving adoption and industry growth.
📍 Dash Core Group, the cryptocurrency development company dash (DASH), announced the launch of its new version Dash Platform v0.17 on its testnet. The new update includes improvements to facilitate user experiences, optimize the protocol for light clients, incorporate new functionalities, solve vulnerability problems, such as the infinite minting of which the DeFi protocol was a victim Cover Protocol, and incorporate a new version of the wallet DashPay.
Continue reading: Welcome 2021! The promise of an incredible year for the crypto industry
