Jeffrey Gundlach, a well-known American investor, is changing his perspective on Bitcoin, while billionaire Jack Dorsey confirms his position as CEO of Twitter. 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.
📍 American investor and businessman, Jeffrey Gundlach, acknowledge that Bitcoin (BTC) can be a potential hedge against inflation. Gundlach, known as the “Bond King” said that both cryptocurrencies and gold will become a recommended hedge against inflation, which will produce a weakened dollar in the future.
The renowned investor's outlook seems to be changing positively towards Bitcoin, as until recently Gundlach had affirmed that Bitcoin was a “lie”, strongly criticizing the cryptocurrency and pointing out that he would not invest his money in this.
📍 Billionaire Bitcoin advocate and CEO of Twitter and Square, Jack Dorsey, will continue to lead the microblogging social network giant Twitter, as reported BloombergThe outlet cites that Twitter Inc.'s Board Committee reviewed the company's leadership structure, concluding that its current CEO, Jack Dorsey, should maintain his role at the head of the company. With his reaffirmation, Dorsey continues to lead two companies and ratifies his leadership capabilities.
The American businessman is the CEO of Square, a payments and financial services company, which recently announced a Your Strategic of $50 million in Bitcoin.
📍 For its part, a subsidiary of its financial services company Square recently announced that it will fund research to develop a new Bitcoin wallet that it is accessible to anyone in the world. Square Crypto stated that it is necessary to simplify technical jargon and further educate users about this technological innovation.
According to her Twitter post, Maggie Valentine is the designer chosen to lead this development. Valentine will use the company's funding to conduct research that will help her simplify the operation of Bitcoin wallet applications, designing one that is easier to use and accessible to everyone.
📍 The hash rate Bitcoin drops by 16%, in an automatic adjustment that represents the largest drop since 2011. Data provider BTC.com shows that the hash rate, or computing power of the Bitcoin network, automatically adjusted on November 3, dropping 16,04%, from 132,9 EH/s to 110,3 EH/s. As expected, the network difficulty level also automatically adjusted, from a value of 19.997.335.994.446 (19,99 T) to 16.787.779.609.932 (16,79 T) at press time.
Source: BTC.com
The network difficulty level is expected to be adjusted again within 14 days. Despite the drop in the Bitcoin hash rate, the price remains stable. At the time of this writing, Bitcoin has a value of $13.860,6 USD and has a market capitalization of over $253 billion.
📍 The decline suffered by decentralized finance markets during the month of October affected the earnings of miners. Ethereum, as shown by the data provider GlassNode. The drop in daily trading volume on decentralized markets reduced miners' earnings from transaction commission fees by 65%.
According to data from the data provider, in September, Ethereum miners reached a monthly record of $166,3 million, while in October they collected only $57,4 million in commission fees. Despite the significant reduction, Ethereum miners earned higher profits than Bitcoin network miners, who collected only $41,2 million in commission fees.
📍 Another big move has just been recorded in Bitcoin, as shown BitInfoCharts on its platform. A total of 69.369 BTC have just been transferred to a single Bitcoin address. The wallet from which the transaction was made has not been moved since 2015, the data provider shows. The BTC moved are currently worth close to $961 million, according to the current value of the cryptocurrency. $13.860 USD per unit, at the time of going to press.
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