Bitcoin and Ethereum hit new all-time highs, raising their market capitalization to levels never seen before. This and more news in this handy daily summary so you are always informed with those most recent events that happen within the crypto world.
Cryptocurrencies and altcoins
📍 Bitcoin (BTC) It becomes one of the assets with the highest performance so far this week. The market-leading cryptocurrency hit a new all-time high of $48.025 USD this February 9, although at the time of this publication it dropped to 46K. Even so, Bitcoin's market capitalization remains at a record level above $860 billion, surpassing several of the most recognized companies and banks on the market.
With this new unit value, Bitcoin far exceeds the value of Yearn Finance's YFI token, which in 2020 was valued above the unit price of Bitcoin. At the time of writing, the price of YFI is $37.900 USD.
📍 Ethereum (ETH), the second cryptocurrency in the markets by capitalization, also recently broke its ceiling and reached new all-time highs. The value of ether is trading at $1.800 USD, at the time of this publication, but the cryptocurrency reached an ATH of $1.819 USD this February 10th. Ethereum capitalization also reached a new high above $205 billion.
📍 Interest in Bitcoin awakens on Twitter, when the cryptocurrency label becomes a trend throughout the social network. A few days after the revelation of Elon Musk, the richest man in the world, who invested $1.500 billion of Tesla's capital in Bitcoin, interest in the cryptocurrency on the social network reaches new records this year.
Joshua Frank, general director of The TIE, a data provider for the world of cryptocurrencies and digital assets, said that in the last few hours nearly 143.000 tweets about Bitcoin have been published. Frank noted that the tweets come from real users and not bot accounts.
Source: The TIE
Bitcoin and Blockchain Adoption
📍 The service network in blockchain of China, BSN, solution by Maestrale seamlessly integrates a new network at your services. This time, the turn is for the blockchain protocol based on proof of stake (PoS), Casper Network, developed by Casper Labs. The new protocol will debut in 2021 and seeks to be a fundamental piece for application developers. With this new integration, China advances its plans to turn the Blockchain Services Network into the leading global provider of blockchain infrastructure services.
📍 Ricardo Salinas Pliego, listed as the third richest person in Mexico, updated his Twitter account to support the main cryptocurrency in the markets: Bitcoin.
Source: Twitter
Salinas Pliego has an estimated total assets of 13.300 billion dollars. In the past, this billionaire businessman declared himself in favor of Bitcoin, considering it an asset with the potential to protect us against the devaluation of fiat money or bank paper money, which is “worthless” in some economies.
📍 SCB 10X, the reversing arm of Siam Commercial Bank, one of the oldest banks in Thailand, Opened a fund of 50 million to finance projects based on blockchain technology globally, as well as provide subsidies to startups and technology companies and digital assets in development.
📍 The local musician, Pirre-Philippe Cote, is experimenting with a mini Bitcoin farm to replace heating needs in Canada, with heat generated by cryptocurrency mining equipment. The tests take place in an abandoned church, where Cote, along with other members of his community, has 75 equipment of Bitcoin mining.
According to informs a local environment, the experiment fulfills a double function. Firstly, it takes advantage of the country's low temperatures in winter to mine cryptocurrencies without the need for a cooling system, while generating heat to minimize heating needs.
📍 In Spain, the law firm Cysae adopt blockchain technology and smart contracts to design a tool that allows you to offer your services in an innovative way. As outlined, Cysae will allow the execution of agreements without the need for third parties or intermediaries, guaranteeing transparency and trust in its legal processes.
NFT and DeFi Markets
📍 Several companies and media in the digital industry plan a virtual meeting next February 10 to bring together artists from countries such as Spain, Argentina, Venezuela and Mexico with a focus on crypto art. Called “From art to Cryptoart”, the virtual event is part of the “First Crypto Art digital illustration competition”, reviewed by this means a few days ago.
In this event, various topics will be discussed focused on learning about artists' appreciation of cryptoart, and the main difficulties that arise when experimenting with this new way of expressing and communicating art through blockchain.
📍 A new non-fungible token project (NFT) becomes the market leader, and the first platform to achieve the largest NFT token sale in history. Called Axie Infinity, the project sold 9 parcels of digital land for 888 ETH, equivalent to a value of 1,5 million dollars. The user who made the purchase declares himself a fan and faithful believer of the project, pointing out that it is becoming a digital “country”, which has its own laws, its own identity and its own digital citizens.
Regulations
📍 After 3 months of study and development, China publish the guidelines of its antitrust plan, which will be applied to payment and technology companies, such as Alibaba, Ant Group and Tencent. This new proposed plan seeks to prevent and stop monopolistic behavior within technology and payment companies and companies, allowing healthy development and healthy competition that allows everyone to enjoy equal benefits within the markets.
📍 In the state of Rhode Island, United States, the House of Representatives he presented a bill that seeks the approval of a regulatory sandbox to enhance the development of the crypto industry and blockchain technology in the region in a safe and responsible manner.
Continue reading: Spain considers a new Bitcoin tax collection plan
