Elon Musk's Twitter account update to mention Bitcoin briefly boosted the cryptocurrency's price over the weekend. While DOGE's value increased by almost 1.000% in just a few days. 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.
📍 Elon Musk was undoubtedly one of the biggest protagonists in the crypto industry this weekend. The billionaire, considered the richest man in the world, updated his Twitter account to mention Bitcoin (BTC), the market-leading cryptocurrency, in a move that caused the price of Bitcoin to skyrocket to $38.000 USD in just a few minutes.
Although Bitcoin was unable to hold on for long at this level, Musk's post was related to a similar surge in the DOGE token seen in December, when the billionaire posted a meme about this on his Twitter account. cryptocurrencyMusk mentioned that a price increase was “inevitable.” Many of his millions of followers thought he was talking about the DOGE token again, while many others thought he was referring to Bitcoin.
📍 On the other hand, DOGE, the token of the famous Internet meme “Doge”, experienced a growth of almost 1.000% of its value in recent days, after a group apparently related to Reddit's “Wall Street Bets” community created a huge wave of activity about this token on social media.
As shown by the data platform The Tie, the volume of tweets about Dogecoin surpassed, for the first time, the volume of tweets written about Bitcoin on the social network. Although the data provider specified that this volume of tweets comes from 80% spam and bots, the almost 90.000 tweets published on January 28 caused DOGE to reach $0,078 USD per unit, marking a new all-time high (ATH) in its value.
Also, DOGE's price surge was accompanied by an increase in trading volume and transactions with this token. The meme token reached $10.000 billion in trading volume in just 24 hours. At press time, DOGE trading volume is around $6.200 billion, showing a 39% drop compared to what was seen on January 29. The price of the token also fell after the brutal increase. At press time, DOGE is trading near $XNUMX billion. $0,03 USD.
📍 XRP, Ripple's token, also saw huge growth over the weekend. After seeing its exit from several of the exchanges The SEC lawsuit against Ripple has caused XRP to fall by more than 70% of its value in just a few days. However, this weekend the token's performance has been positive for its users. XRP has a current value of $0,44 USD, recovering more than 66% of its value in the last week. According to several analysts, a group related to the Reddit community, the Wall Street Bets, is also behind this rise.
📍 The United States Federal Reserve Bank (FED) opened a process of engagement to hire a digital innovation manager. The Fed is looking for a person with experience in digital assets, such as stablecoins y CBDC, to strengthen its research and strategies on financial operations and services related to emerging payment activities and institutions, which will contribute to the creation of a supervisory and regulatory framework for these platforms and assets.
Recently, Fed Chairman Jerome Powell said the bank needs to improve and strengthen its “regulatory responses” to the digital industry.
📍 In Spain, the Association of Science and Technology Parks (APTE) largest economy he presented the new technological digital platform disruptive, created to promote and encourage economic development through new technologies in development and the digitalization of companies and their competitiveness. The presentation of the platform was carried out online, and was led by the Málaga TechPark business park.
📍 In Colombia, the country's government is authorizing commercial banks to provide cryptocurrency and digital asset exchange and custody services. The Latin American nation is making giant strides toward digitalization. Several of the country's commercial banks are authorized to provide the new services starting next March. Financial Superintendence of Colombia reported on the approval of licenses for these banking entities.
The Colombian government is also making use of technology blockchain to create a transparent and trustworthy system of government in the city of Bogotá.
Continue reading: Kingfisher Capital invests in bitcoin through Grayscale Bitcoin Trust
