Social media giant Facebook launches its Novi digital wallet for users in the United States and Guatemala. This and more news in this practical summary daily so that you are always informed with events most recent that occur within the crypto world.
Cryptocurrencies and altcoins
📍The price of Bitcoin (BTC) flirts with a new all-time high. Bitcoin (BTC), cryptocurrency most important worldwide, is about to exceed its historical maximum price seen in April of this year. This Tuesday, BTC surpassed the 64K level to reach a value of $64.608 per unit; approaching its April ATH.
Several analysts attribute the closeness to the new BTC ATH to the arrival of the first Bitcoin ETF in the United States. In his debut, the ProShares Bitcoin Strategy ETF from ProShares, launched yesterday on the NYSE Arca, exceeded $395 million in trading volume during its first hour. The ETF, under the name BITO, traded more than 9,6 million shares in its first hour of trading on the market, with a value of $40,9 per share. At press time, the ETF closed trading more than 24,3 million shares, which are now trading at $41,94 per unit, as shown by the data from NYSE Arca. Likewise, the bullish rally for Bitcoin and the crypto market could be further boosted by the arrival of a new BTC ETF in the United States. Bloomberg analyst Eric Balchunas points out that there is a high probability that Valkyrie Investments will launch its Bitcoin futures ETF this week.
📍The number of Ethereum addresses with at least 1 ETH exceeds 1,3 million. GlassNode, a data provider in blockchain, indicated on his Twitter account that the number of addresses of Ethereum with at least 1 ETH reached a new all-time high, reaching a figure of 1.341.789 addresses.
GlassNode too he highlighted that the circulating supply of Bitcoin just hit a 6-month high, with 18.321.779,4 BTC available on the market.
Bitcoin and Blockchain Adoption
📍Novi, Facebook's digital wallet debuts in the United States and Guatemala. David Marcus, leader of Facebook's cryptocurrency project, reported on his Twitter account the launch of Novi in the United States and Guatemala, to allow users in this country to send and receive money without commissions instantly and simply. In his post, Marcus highlighted that payments and value transfers through Novi will be very easy, opening the doors to a new digital financial system for the millions of people excluded by banks and other participants in the traditional system.
However, Novi will work with the Pax Dollar stablecoin and not Diem as expected. Marcus explained that Diem is not ready to go to market, but that the project is still on track awaiting regulatory approval.
📍Chivo Wallet disables one of its functions to prevent users from “scalping” from the wallet. The developers of El Salvador's bitcoin wallet, Chivo Wallet, reported that the function of freezing bitcoin prices for 1 minute was temporarily disabled in the application. On its official Twitter account, Chivo Wallet reported that many users were using this function to arbitrage “illegally”, so the developers will disable the function to limit the visibility of the frozen BTC price, while making a modification that allows the convertibility of bitcoins to dollars instantly.
Development and Technology
📍Polkadot creates development fund with more than 18 million DOT to promote decentralized governance. Gavin Good, founder and developer of Polkadot, announced the creation of a fund of 18.936.300 DOT, valued at approximately $784 million, to promote decentralized governance within its blockchain ecosystem. Good reported that the funds will be used to support, develop, build, improve, educate and boost everything that the Polkadot government deems valuable within its ecosystem.
Rules and Regulations
📍Russia talks about the possibility of including some digital currencies to accelerate de-dollarization. Aleksandr Pankin, Deputy Foreign Minister of Russia, reiterated the possibility of using some digital currencies to reduce the participation of the US dollar in international trade. Responding to a question about the course of de-dollarization, Pankin noted that Russia could “replace the US dollar with other currencies, both national and regional, and in the future, probably, with some kind of digital assets.” However, Pankin recalled that this is a great job that will require in-depth research and analysis, among many other things, to create the appropriate mechanisms that guarantee the proper functioning of a new system.
Russian President Vladimir Putin said last week that cryptocurrencies can become a unit of account and be used massively as a means of payment and transfer of value. However, he pointed out that talking about its integration into international trade is still premature due to the volatility of its prices.
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