Ether Capital has revealed an $80 million investment in Ethereum, acquiring a total of 43.512 ETH. Meanwhile, 500.com Limited is exchanging Class A shares for Bitcoin mining equipment to boost its hash rate. 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
📍The current capitalization of Bitcoin almost exceeds that of the world's three largest banks combined. With a value of 1,05 billones At the time of this writing, Bitcoin is almost as big as the 3 largest banks globally. The market capitalization of JPMorgan, Bank of America y The Industrial and Commercial Bank of China Together they add up to about $1,08 trillion, a figure almost eclipsed by Bitcoin.
📍Ethereum (ETH) has a new potential investor, who bet 80 million dollars on this cryptocurrency. The company Ether Capital Corporation revealed an investment of almost $80 million to purchase 43.512 ETH.
Brian Mosoff, CEO of Ether Capital, noted that Ethereum has had a great and unprecedented year in history, and that its value continues to be driven by a host of fascinating use cases, such as decentralized finance (DeFi) and non-fungible tokens (NFTs). Mosoff stated that the company is proud to provide its clients and shareholders with access to the vibrant Ethereum ecosystem, highlighting that Ether Capital’s intention is to create a more substantial commitment to the cryptocurrency.
Bitcoin and Blockchain Adoption
📍In the Netherlands, a political party is creating billboards stating that Bitcoin is the future, and that cryptocurrencies are part of the revolution that we must move towards, which is causing transcendental changes in our society.
📍The World Economic Forum (WEF) is supporting the initiative of a startup that seeks to create a solution blockchain for the control, traceability and safety of health protection equipment against COVID-19. In a release press release, the startup Trace Labs revealed plans to create a repository of essential COVID-19 supplies that is highly reliable and safe for medical teams and other users.
The blockchain proposal was born as a way to solve the various challenges that arise in the sector; where governments, mainly in the United States, have had to seize large quantities of fake medical equipment, which does not guarantee the safety of users.
Miners
📍500.com Limited completes its acquisition of Bitcoin miners in exchange for Class A company stock. According to reports, in mid-January, the lottery company signed a deal with a Bitcoin mining equipment supplier for around $14 million. Now, 500.com Limited confirms this agreement, where it exchanged 11.882.860 Class A shares worth $1,12 per share, for mining equipment that will give it approximately 918,5 PH/s of hash power on the Bitcoin network.
The company has announced several purchases of mining equipment to expand its mining power, as well as the acquisition of the company BTC.com, which it became its property in February, along with all its services; including the Bitcoin mining pool, BTC.com and the BTC.com domain name.
NFT and DeFi Markets
📍The blockchain data provider, DappRadar, shows that the platforms NBA Top Shot, Cryptopunks, Rare, sorare y MoonCats are the top 5 applications of NFT that are moving value in these markets. These 5 dApps NFTs move value at a daily average of $12,5 million. NBA Top Shot, the dominant platform in NFT markets, handles a volume of $6,36 million per day; while CryptoPunks, Rarible and Sorare, move value between $3,2 million, $1,27 million and $1,16 million per day, respectively. MoonCats has lost nearly 50% of trading volume, ranking fifth with a daily volume of $517.000.
📍Elon Musk's NFT tweet, where he dedicates a song to this new trend in the crypto community, is already trading for about 1,12 million The highest bidder for this tweet, which plays a video of Musk singing a song for the NFTs, is Sina Estavi, CEO of Bridge Oracle, the same person who is offering $2,5 million for Jack Dorsey’s first tweet on Twitter.
It is worth remembering that the $2,5 million or more that Dorsey raises from the auction of his tweet will be donated to charity in Africa.
📍The UK auction house, Sotheby'sis a to the NFT craze, and will begin by auctioning off artworks by well-known crypto artist Pak. The auction will take place next April and will feature unique digital artworks, as well as open editions of works with limited supply.
CBDC and Central Banks
📍The Bank of Japan (BOJ) insists on the development of a CBDC, arguing that preparing a central bank digital currency is not something that should be done when needed. The Asian nation is preparing to begin testing its digital yen in 2021.
According to recent statements by BOJ Governor Kuroda Haruhiko, the bank has no intentions to issue a digital currency for the yen yet, but experiments on a CBDC will begin in spring this year to be prepared for a possible change in the future.
Development and Technology
📍The president of Banco Santander, Ana Botín, pide that the digital Fintech industry has the same rules as the traditional financial system. For Botín, the important thing is to satisfy the demand of users and consumers, who are increasingly asking for more technological and innovative tools to carry out their commercial operations. Also, the president of the Santander bank, assured that fintech and traditional banking share practically the same activity.
“There are many young people who want to work with the confidence that a bank provides, but with the agility and type of service that fintechs provide.”
Regulations
📍South Korea requires crypto companies to report all their financial transactions with cryptocurrencies and digital assets. The Asian country is implementing strict information control rules to minimize the risks of illicit activities that may be committed with these types of assets.
Según un release According to a resolution issued by the Financial Services Commission of South Korea, starting next March 25, the amendment that requires cryptocurrency service companies to submit reports with specific information on financial transactions carried out with cryptocurrencies from their platforms will come into effect.
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