Bitcoin is posting a 7% weekly gain in price, driven by increased demand in the crypto market. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.
Bitcoin price rises with increased demand in the market
📍‌Demand for Bitcoin has outstripped the supply of the cryptocurrency in the market. This was revealed by data published by the CryptoQuant platform on the social network X (formerly Twitter).
According to the platform, for the first time in four months, the demand for BTC is once again exceeding supply. JA Maartun, a crypto analyst and community manager at CryptoQuant, indicated on the social network that Bitcoin buyers are currently in control.
At the time of writing, Bitcoin is trading above $28.000, recording a daily gain of 3,7% and a weekly gain of 7,3%. The increasing demand for Bitcoin is driving the price higher, due to the limited issuance of the cryptocurrency.
Tokenization is like securitization on steroids
📍‌Asset manager Franklin Templeton sees tokenization as the evolution of securitization. During CNBC’s Delivering Alpha event, Franklin Templeton President and CEO Jenny Johnson said that tokenization is defining the future of securitization.
Johnson said that asset tokenization on the blockchain can be defined as “securitization on steroids” and emphasized how blockchain technology has been disrupting, transforming and empowering traditional investment vehicles.
Franklin Templeton is one of the asset management firms that expect the approval from the Securities and Exchange Commission (SEC) to launch a Bitcoin spot ETF on US soil.
VeChain gains 3 new allies in telecommunications
📍‌Public blockchain for traceability, VeChain, has partnered with three companies in the telecommunications industry. AT&T, T-Mobile and Verizon are joining VeChain to create new and innovative solutions that are efficient and sustainable to solve real-world problems within telecommunications.
VeChain co-founder and CEO Sunny Lu announced the blockchain partnership with these three telecom companies during the MWC connectivity event held in Las Vegas, Nevada (United States).
In addition to these partnerships, VeChain has also partnered with Shanghai Tanlian to facilitate the process of FSC certification. It has also obtained two patents in the United States related to data connectivity using blockchain and IoT.
VeChain has become one of the most influential blockchains at the enterprise level. As its CEO has highlighted, VeChain is helping to build the economy of the future based on sustainability, traceability and efficiency.
Continue reading: Ethereum Futures ETFs That Could Be Approved by the SEC Tomorrow
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.
