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With the shares rally on Thursday (Nov 5), bitcoin followed suit, climbing to over $ 15,000, signaling continued confidence in the cryptocurrency.
The stock reached $ 15,017.05 at 10:50 am (ET), reported CoinDesk, its highest level since January 2018, and continued to rise throughout the day, reaching $ 15,237.78 at 5:01 pm, according to Yahoo Finance.
Investors continued to accumulate bitcoin throughout the year, particularly during the March and September price slumps, according to CoinDesk, signaling long-term confidence in the digital currency. Accumulating addresses increased by 9% in 2020.
“It shows the flow of retail … investors pile up during the price hike,” Bequant research manager Denis Vinokourov told CoinDesk.
In other news, ten Spanish-based tech and financial companies are developing a self-managed digital identity using blockchain and have completed the concept testing phase, according to a Santander press release.
The project, called Dalion, gives users more control over their personal data and makes it easier to share it where they choose, such as when they choose to auto-fill forms. A self-managed identity also protects the security of information and ensures that it cannot be altered.
Together with Santander, the partners include CaixaBank, Bankia and Liberbank, as well as BME, Inetum, Línea Directa Aseguradora, Mapfre, Naturgy and Repsol and the Alastria consortium.
The self-managed digital identity project is expected to be brought into a real production environment in May 2021, after completing phase two of the tests, which is expected to be implemented this month.
At this time, the tests have been carried out on an Ethereum-Quorum, one of the blockchain infrastructures of the Alastria consortium, but future tests will also be tried in other use cases.
Additionally, the Polymarket forecasting market has eclipsed SushiSwap as the fourth largest blockchain project in commission generations, CoinDesk reported, citing Cryptofees.
The Ethereum-based platform, which allows users to trade markets for real money on predictions of current event results, is earning, on average, over $ 100,000, behind only Bitcoin, Ethereum, and Uniswap.
The increase can be partly attributed to focusing on the US election, staying live throughout the entire election process, unlike other blockchain-based prediction sites, according to Coindesk.
“In this election cycle alone we have seen our volume exceed $ 10 million, which is much higher than we expected in such a short amount of time,” said Shayne Coplan, founder and CEO of Polymarket, according to CoinDesk.
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WATCH LIVE: HOW WE PURCHASE – TUESDAY 10 NOVEMBER 2020 – 12:00 (ET)
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