Ethereum is trading on the market above $3.000 per unit. It is the second time that the price of the cryptocurrency has exceeded this level in the last month. This 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.
Ethereum on the rise: Surpasses $3.000 dollars
📍The Ethereum price has risen by 7% in the last week. According to data from cryptocurrency price monitoring platform CoinMarketCap, Ethereum is currently trading at around $3.100 per unit.
This is the second time that the Ethereum price has hit the $3.000 level per unit in the past 30 days. In addition to this, cryptocurrency trader Rekt Capital commented on social media that the cryptocurrency could reach its second monthly close above the key $2.791 level.
“This would be only the second time in history that ETH closes monthly above the $2791 level in a bull market,” the crypto analyst commented.
Reddit invests in Bitcoin and Ethereum
📍News aggregator Reddit recently revealed that it has investments in Bitcoin and Ethereum, the main cryptocurrencies on the market. In a filing with the Securities and Exchange Commission (SEC), Reddit revealed that it had recently invested its excess cash into BTC and ETH.
In the presentationReddit underlined its confidence in the top two cryptocurrencies by market cap, stating that it had purchased these cryptocurrencies, as well as MATIC, from the Polygon network, with a portion of its surplus cash. Reddit specified that it had invested in Bitcoin and Ethereum, as well as Polygon, as a “form of payment for sales of certain virtual goods” and that it may continue to invest in these cryptocurrencies in the future.
With this, Reddit has joined the many companies that are allocating part of their corporate treasuries to Bitcoin and Ethereum, recognizing these cryptoassets as a more efficient form of money than cash and as investment assets with great potential for long-term growth.
A new investment fund is tokenized on Polygon
📍Bankhaus Scheich, an institution specializing in OTC markets and fixed-income trading, has tokenized a new investment fund using the Polygon Network blockchain. Its about "Allianz Securicash SRI Fund”, a euro-denominated money market fund, which can now be traded 24/7 with a fairer cost structure, thanks to the innovation of blockchain technology.
The tokenization of this fund on the Polygon network was handled by the Tradias platform, the fintech technology arm of Bankhaus Scheich, according to Michael Reinhard, CEO of the platform.
Reinhard highlighted that blockchain technology has enabled Bankhaus Scheich to offer its clients a “forward-looking solution for managing liquidity with tokenized money market funds.”
Carson Group enters the market for Bitcoin-based investment products
📍Investment services consultancy Carson Group, with more than $30.000 billion under management, authorizes exposure to Bitcoin ETFs. According to Bloomberg, Carson Group has approved its clients' exposure to four of the ten Bitcoin-based investment funds that were launched in the United States last month. These Bitcoin ETFs are those of BlackRock, Fidelity, Bitwise and Franklin Templeton, which are now accessible to the investment consultancy's clients.
Carson Group Vice President and Investment Strategist Grant Engelbart said the firm had selected these four Bitcoin investment funds from all those approved by the SEC in the US market using strict selection criteria, including the growth of assets in reserve, trading volumes and the costs they offer to investors.
Currently, Bitcoin ETFs from BlackRock, Fidelity, Bitwise and Franklin Templeton rank second, third, fifth and ninth in the spot ETF market in terms of assets in reserves, according to data from the platform. Buy Bitcoin World Wide.
In total, all U.S.-based Bitcoin ETFs, including Grayscale Investments, hold 736.144 BTC in reserves, worth over $37.800 billion.
PancakeSwap is about to launch its third Web3 game
📍Nemesis Downfall will be the third game to be implemented on the PancakeSwap gaming marketplace platform. As reported by this media, PancakeSwap began its debut in the Web3 gaming market in November 2023, with the launch of the PancakeSwap Gaming Marketplace platform.
Since then, the largest DEX on BNB Chain has welcomed 2 titles from the GameFi sector, including Pancake Protectors and Pancake Mayor. Nemesis Downfall will be the third Web3 game to be implemented on the PancakeSwap gaming marketplace.
On X (formerly Twitter), the platform announced that the launch of this digital game will take place next Wednesday, February 28.
In Nemesis Downfall, players will be able to use the CAKE token to purchase native in-game items, as well as unlock access to digital collectibles and more. Nemesis Downfall features its own token, called ND, which is based on the BNB Chain.
Arbitrum expands into GameFi
📍Arbitrum, a L2 in the Ethereum blockchain ecosystem, launches a new network focused on digital games. Called Multichain, the new blockchain is developed by Pirate Nation studio Proof of Play.
The new gaming network is powered by the platform Arbitrum Orbit, which was introduced by the developers of the L2 solution as an infrastructure powered by Rollup and AnyTrust technologies, ideal for launching new scalable and flexible chains in the Arbitrum ecosystem.
Amitt Mahajan, co-founder and CEO of Proof of Play, told Decrypt in an interview that through Multichain, they seek to provide blockchain developers and builders with an environment in which they can create new digital games, in an agile and innovative way.
Continue reading: Nigeria calls for Binance ban
IMPORTANT: The content of this article is for informational purposes only and, in no case, what is written here should be taken as investment advice or recommendations. Bit2Me News reminds you that before making any investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.
