This week has been very important for Bitcoin, which is setting new 2020 highs with a rise above $13.000 USD, let's see what is happening in the crypto markets currently. This ‌ ‌and‌ ‌more‌ ‌news‌ in‌ ‌this‌ ‌practical‌ ‌summary‌ ‌daily‌ ‌so that‌ ‌you are always‌ ‌informed‌with‌ ‌events ‌ ‌most‌ ‌recent‌ ‌that‌ ‌occur‌ ‌within‌ ‌the‌ ‌crypto‌ ‌world.‌ ‌
📍‌ Despite the recent minor correction in its price, Bitcoin (BTC) is setting new highs for 2020. The value of the cryptocurrency went from $13.860 USD, one of the highest peaks not seen since 2019, to a value of $13.330 USD, at the close of this edition, reflecting a drop of 4% approximately. But, despite the fall, traders continue to point out an upward trend for the cryptocurrency, as there are several optimistic indicators that point to an unprecedented rise in its price.
CoinMetrics, a well-known provider of cryptocurrency metrics and analysis, published a report where he reveals several of these positive indicators for the value of Bitcoin. Firstly, this cryptocurrency is increasingly being adopted as a haven of value, seeing several major players, on the scale of Square and MicroStrategy, investing in Bitcoin as a treasury reserve for these companies. Likewise, the report points out that society is adopting a new approach and perception towards Bitcoin, a fact that drives the bullish trend for the cryptocurrency.
📍 ‌BTC/XAU pair returned to 7 ounce mark per Bitcoin, data shows CoinGecko on October 25. Bitcoin's return to this mark again indicates the strengthening of the cryptocurrency against gold, a traditional haven of value used by countries and bankers around the world. The mark of 7 ounces of Gold for each Bitcoin had already been reached in 2019, but the strengthening of the gold market gave it a slight advantage, remaining at the same levels again.
Market analysts see this as a very important step for Bitcoin in its conquest of the Gold market. Additionally, they also emphasize that this movement can mark a new cycle of decorrelation of Bitcoin from gold and other traditional assets such as the dollar and various commodities. In short, the power of Bitcoin is increasing more and more in the face of a traditional market that continues to suffer the economic blows caused by the pandemic.
📍 ‌The Spanish fintech company 2Gether reported a technical failure that was affecting the operation of the 2gether application and card for several hours. On its Twitter account, the company informed its customers, users and suppliers that these products were out of service, but that the teams were working to solve the platform's failures.
At the time of writing, the 2gether team reported that the company's payment provider had resolved the issue, making the platform's services available again and working properly. So far, the company has not disclosed the cause or origin of the recent failures.
📍 ‌According to a press release published by Bloomberg, the exchange of derivatives of cryptocurrencies, , FTX, reports that it is partnering with the German firm CM Equity AG and with the Swiss signature Digital Assets AG, to offer fractional shares on the FTX platform.
Fractional shares, according to the media, are the first product of their kind and will be made up of a dozen shares and cryptocurrency pairs, which will allow exchange users to trade these stock and cryptocurrency pairs through the offer. of fractional shares of the platform. This initiative seeks to take full advantage of institutional interest in the crypto space, which is growing by leaps and bounds within major players such as MicroStrategy, Square and others. Bloomberg also notes that institutional interest in Bitcoin has grown exponentially, leading the cryptocurrency to almost triple its value since March, and reaching levels not seen since January 2018.
📍 ‌Aave, a well-known decentralized finance protocol (DeFi), announced the transfer of its governance to the community, who now has decision-making control over the development and future of this protocol. According to the release, AAVE token holders can now vote on proposed improvements, updates and changes to the protocol, known as AIP, plus they can stake their AAVE tokens in the protocol's security module and earn security incentives in exchange for securing the project.
The developers say that the Aave community is full of great ideas and is willing to actively participate in the future of this protocol.
📍‌ In DeFi, the new project called Keep3r Network, released by the creator of Year Finance, Andrew Cronje, is growing by giant steps, with more than 3.000%, reaching a value of more than 310 $ USD in a few hours. At press time, data shown by the Uniswap.info platform reveals that Keep3r Network users have made more than 22 thousand transactions with a daily trading volume of $115.141.884 USD, at press time.
Source: Uniswap.info
📍‌ This medium reported recently that the Australian Stock Exchange (NSX) will launch a new platform for automated trading based on technology blockchain. However, in a update issued by Dominic Stevens, CEO of ASX, announced that they will extend the initial date for the launch of this platform, due to complications caused by the current COVID-19 pandemic. The new planned date for the launch of the new platform, which will replace its Clearing House Electronic Sub-Registration System (CHESS), is extended to April 2023.
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