Ethereum has returned to the $1.000 USD level after 3 years, but the cryptocurrency's recent price surge is also pushing up Gas prices, causing fees to exceed $10 USD per transaction. 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.
📍 Ethereum (ETH), The second cryptocurrency The largest market by capitalization, broke $1.000 USD in value on January 4, when its price reached $XNUMX USD. $1.140 USD per unit, a value not seen for 3 years, in January 2018.
The exponential rise in the price of Ethereum is driven by the bullish sentiment surrounding Bitcoin, and the new financial products being developed based on this cryptocurrency, which is causing a growth in the interest and confidence of investors on ETH as a potential investment asset. Ethereum is getting closer to reaching its all-time high of $1.448 USD. Analysts predict that the cryptocurrency will reach and exceed this value during the first half of this year, but it seems that ETH is set to reach it a little sooner.
📍 Likewise, the price increase in ETH has also significantly raised the cost of network gas fees, which according to the data provider YCharts, reached $10,2 USD since Sunday.
For his part, Lark Davis, a well-known crypto YouTuber, pointed out that the increase in gas fees is causing DeFi protocols to become unusable again, due to the high costs of transfers that make participation within these protocols difficult.
📍 The support community XRP is organizing to request the intervention of the White House in the judicial process that Opened the US Securities and Exchange Commission (SEC) against Ripple, the company that issued XRP. According to the White House portal, We the People, the XRP community is calling on the White House to declare XRP a currency, as the Department of Justice and the Treasury Department did when Ripple faced a lawsuit from FinCEN in 2015.
Likewise, in Rhode Island, several XRP investors are presenting applications in state court to seek protection as investors, and for Jay Clayton’s successor at the SEC to reverse the course of the lawsuit Clayton filed against Ripple in late 2020 so that it does not affect them. Investors say they should not have to pay for any mistakes made by Ripple and its executives.
📍 Expectations on the price of Bitcoin (BTC) In the future, they remain stable and continue to grow, despite the fact that the value of the cryptocurrency suffered a slight correction in its price after reaching a new historical maximum at $34.684 USD on its twelfth anniversary.
Binance US CEO, Catherine Coley, says that Bitcoin will close this 2021 with a value between $75.000 and $100.000 USD. Likewise, the founder and CEO of Galaxy Digital, Mike Novogratz, estimates that Bitcoin will reach, and even surpass, $100.000 USD by the end of the year, due to the massive adoption of the cryptocurrency by institutional investors and ordinary users, such as Paypal's 340 million active customers who will soon be using Bitcoin, as it becomes an increasingly scarce asset.
📍 The development of the CBDC The trend is not stopping, and China continues to lead this innovation. The Asian country announced a new public lottery in which the government will give away another 20 million yuan, worth 3 million dollars, to continue public testing of its DCEP digital currency. According to the statement, the government opened registrations to benefit another 100.000 citizens in Shenzhen province, where the first of these tests was carried out in October last year.
Likewise, as in the two previous lotteries, each winning citizen will receive a digital red envelope with 2 digital yuan, which can be spent in authorized stores. This third installment of the DCEP tests will take place from January 200, will last 7 days, and will allow the nation to test the efficiency and usability of the digital yuan. The results of the second lottery, held in Suzhou, were successful, according to the provincial government, although there were problems with the touch function and payments without an Internet connection.
📍 Darren Soto, a member of the United States House of Representatives, is pushing a new bill that will allow him to establish an office within the Department of Commerce. All of this with the aim of supporting all activities related to the defense of blockchain technology and cryptocurrencies, and promoting the use and implementation of new technologies within the Federal Government.
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