Market-leading cryptocurrency Bitcoin surpassed $55.000 USD on January 9; the Toronto Stock Exchange saw the arrival of another Bitcoin ETF; and Tether (USDT) is now available on the Solana blockchain. 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
📍Another day that Bitcoin (BTC) is on the rise, surpassing the $55.500 USD per unit. The market-leading cryptocurrency has once again surpassed the $1 trillion mark in market capitalization, and at the time of writing it is valued at $1,03 trillion. So far this week, Bitcoin has gained nearly 19% in value, or about $8.700 USD.
📍Tether (USDT) is now available in the blockchain high perfomance Solana. Several crypto projects are abandoning Ethereum (ETH); or at least, looking for options in other blockchain networks to offer alternatives to their users, who need to escape the high commission fees that exist in ETH due to gas costs.
In this sense, USDT, the stablecoin The most widely used and transacted stablecoin in the world, launched on Tuesday on the Solana network. From here, users can now transact with the stablecoin at high speed and at low costs. According to Tether, Solana manages more than 50.000 transactions per second (TPS) with commission fees of just $0,00001 USD per transaction.
Bitcoin and Blockchain Adoption
📍Moon, a Bitcoin-focused startup, is integrating Lightning Network and Visa to provide a new payment option to its customers, using the potential of new technologies. Shared with CoinDesk, the startup reported that its US customers and users can now pay for their products at any establishment that accepts Visa, using prepaid digital cards built on the Moonen browser extension with Lightning Network. Each card is issued for the exact amount of the purchase and does not charge transaction commission fees.
📍With the new Bitcoin price touching the $54.000 USD, institutional investors, or companies that have invested their treasuries in BTC and are listed on the stock exchange, have already accumulated a figure of more than 9,65 billion dollars in the cryptocurrency.
According to the Bitcoin Investor data provider, 25 publicly traded companies hold 178.855 BTC, valued at $9.658.170.000 USD at the time of writing. On the other hand, Bitcoin Treasuries shows that around 45 entities hold more than 716.300 BTC, excluding the failed exchange MT.Gox.
📍CI Global Asset Management y Galaxy Digital Capital launched the third Bitcoin ETF on Canadian stock exchanges this March 9. The ETF called "IC Galaxy Bitcoin" made its debut on the Toronto Stock Exchange (TSX) under the symbol BTCX. This financial instrument will help investors gain exposure to bitcoin through an institutional-grade fund platform.
Development and Technology
📍The developer company Polkadot, Parity Technologies, is devising a new governance framework called Statemint, which will optimize use cases for its parachains and the network as a whole. According to explain According to the developers, Statemint will serve as one of the first commons chains on the network, providing new functionalities to Polkadot, to implement all kinds of assets; ranging from tokenized works of art to NFT, to stablecoins and central bank digital currencies, known as CBDC.
With Statemint, Polkadot will provide its users with a better experience with lower commission fees than existing solutions.
📍RSK launched a decentralized digital identity solution called rLogin, which already operates with the Wallets Metamask, Nifty, Liquality and WalletConnect. According to the release From the network’s developers, rLogin is designed to integrate with web and blockchain applications to give users control of their own data and digital identity. In this way, it gives developers and users the ability to use digital wallets to authenticate and store their data, transferring it to different Web 2.0 and Web3 applications.
This decentralized ID solution is part of the suite of innovative tools prepared by RSK Infrastructure Framework (RIF) and is already natively compatible with the Bitcoin and Ethereum networks.
Regulations
📍The Financial Services Authority (FSA) of the Republic of Seychelles, the country's financial regulator, has issued an alert about a exchange cryptocurrency exchange, which is apparently not regulated in the archipelago and therefore cannot provide financial services with crypto assets to the country's residents. warning, which mentions Huobi Global as the unregulated exchange, is aimed at investors and the general public to exercise caution regarding the services offered by this entity.
📍The United States is taking the regulation of cryptocurrencies and digital assets seriously, so it is creating a working group to study the digital industry to propose a regulatory framework satisfactory to both regulators and stakeholders. This Tuesday, a bill was presented to Congress proposal to form the working group, which will include representatives of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
📍A report Bloomberg explains that cryptocurrency exchange and trading house operators are fleeing the strong regulations imposed by the US government. South Africa the industry, despite being one of the most flourishing markets in the country. However, crypto service providers say they are not seeing results and that their potential growth is being limited by the country's poor management of the industry.
Among the friendliest jurisdictions to migrate your companies are: the United Kingdom, Germany and Singapore.
Continue reading: Bitcoin mining strengthens in the United States and Canada
