- Cryptocurrency initiation coinbase valued at $ 8 billion.
- Crypto Millionaire designs Blockchain Utopia.
- DeVere launches actively managed cryptocurrency fund.
- Nasdaq to launch Nasdaq SMARTS.
- Only bitcoins to increase the global temperature by 2 ° C.
- Basic Attention Token (BAT) is listed on Coinbase Pro.
- Justin Sun destroys 800 million ERC 20 tokens.
- Morgan Stanley states that Bitcoin is now a class of institutional assets.
- Cryptocurrency exchange MapleChange has been hacked.
- BCH Earn more than 25% this week thanks to some positive news
Among the important news this week, Coinbase announced that it had raised an additional $ 300 million in investments for a valuation of over $ 8 billion to accelerate the adoption of cryptocurrencies and digital assets. The Series E round equity is led by Tiger Global Management, with the participation of Y Combinator Continuity, Wellington Management, Andreessen Horowitz, Polychain and others. The company in its blog stated that the fund will be used to accelerate global expansion by offering more active encryption, utility applications to encrypt and bring institutions into crypts.
Earlier this week, the New York Times published Jeffrey Burns, owner of Blockchains LLC, and plans to create a blockchain utopia in the Nevada desert. At the beginning of this year, Burns bought a huge plot of land in the area for $ 170 million – in cash. It plans to build a "distributed collaborative entity" on the ground where decision-making and profits are distributed among employees, residents and investors. Its purpose is to take the value of decentralization that exists in Bitcoin and other cryptocurrencies and apply it to an entire community. This is a bold strategy, Cotton. Let's see if it pays.
Among other news, the financial consulting firm deVere Group founded deVere Digital Asset Funds, a suite of digital currency solutions for experienced investors, in collaboration with Dalma Capital Management, an important hedge fund manager in the Dubai International Financial Center. The announcement came the day after Bitcoin reached its tenth anniversary. Nigel Green, founder and CEO of deVere Group, said: "The deVere Digital Asset solution will invest in a diversified portfolio of digital assets through algorithmic trading on different platforms, including cryptocurrency trading and OTC markets, as well as arbitrage opportunities." actively managed cryptocurrencies meet the growing demand from customers who want the potential associated benefits of exposure to the digital currencies sector – which typically include portfolio diversification and decent returns – but with reduced volatility for which the market it is known ", he added.
In an effort to protect investors in the cryptocurrency market, Nasdaq, one trillion US dollars, announced plans to launch Nasdaq SMARTS to help reduce the problems of losing funds through hackers, fraud and market manipulation. The product is a market surveillance technology that can be used for any company in any industry in a unique way to monitor risks and alert the company in case of any attacks. This according to the Nasdaq will increase confidence and will attract investors in the cryptocurrency sector.
Among the environmental impacts of Bitcoin. A team of researchers from the University of Hawaii at Manaus College of Social Sciences has now published a new study on Nature Climate Change which claims that the use of Bitcoin could be linked to global warming. According to the research results, "if Bitcoin is implemented at rates similar to those in which other technologies have been incorporated, it could produce enough emissions to increase global temperatures by 2 ° C as early as 2033." "Bitcoin is a cryptocurrency with heavy hardware requirements and this obviously translates into large electricity demands," said Randi Rollins, master's student at UH Mānoa and coauthor of the paper.
Using his official Twitter account, Coinbase Pro's cryptocurrency exchange in San Francisco announced that it has successfully added the Basic Attention Token (BAT) on its platform. Digital resource depots will start today, November 2, at 1:00 pm. Since the exchange is based in California, we can assume this time to be Pacific Standard Time (GMT – 7).
This week, CEO and founder of TRX and the Tron Foundation, announced yesterday that it had completed a process to burn around $ 800 million in Tron tokens. He elaborated the reasons for the burn, saying he is equally ready to try to maintain the stability of the ecosystem and fight the threat of inflation which becomes a problem for many other ERC20 coins and their ecosystems.
A research report by Morgan Stanley titled "Decrypted Bitcoin: A Short Teaching and Implications" described Bitcoin's "rapid morphing thesis" as a new payment system to eventually become a new class of institutional investment. According to a report, the research took into consideration a wide range of parameters that influenced this thesis, which goes from the distributed register that records all transactions immutably, to the number of hacks, hard forks, new cheaper Bitcoin technologies and volatility of the market to conclude.
Among other hacks, a Canadian MapleChange exchange was hacked based on the week's news. The exchange said that all the funds held in the stock exchange were lost and the exchange had to be closed. According to an announcement on the official Twitter page of the exchange, all the social accounts of the exchange were also closed and investigations are under way to find out who is behind the hacks before compensation can be paid to users
Bitcoin Cash, although part of the crypto fight, had a taste of a sudden surge within the week. This happened after Binance and Bitcoin.com, the largest exchange in the world, announced their plans for a BCH hardfork. BCH recorded an appreciation of 25% despite the unfavorable nature of the week on the market. Both large companies have indicated their decision to support the BCH version in the case of a fork, a statement that is believed to be responsible for the sudden increase.
Bitcoin's stability continues this week and has been reduced by around 2% this week. The strength reported was still in the stable area. Prices hit the highest point of 6,547.14 USD and the lowest point of 6,306.99 USD during the week. The most active trades, in volumes, with BTC on several pairs this week were, Bithumb (10.33%), BitMex (7.17%) and CoinBene (3.13%)
Among the prominent voices, during an Axios conference this week, JPMorgan CEO Jamie Dimon said that, as far as Bitcoin is concerned, "I do not care." He went on to say that he believes that blockchain technology is real but does not believe Bitcoin can replace a fiat currency
At the top, this week's prices were at 205.60 USD and remained at a low of 195.73 USD, falling very close to the USD 200.00 Harddle. The most active markets, in terms of volumes, with ETH on several pairs this week were Coinbit (5.46%), Bithumb (4.54%) and DOBI Trade (4.32%)
Among the news surrounding Ethereum, according to the recent research report published by Northeastern University and the University of Maryland, published on October 31, he stated that the lack of diversity of smart contracts Ethereum (ETH) poses a threat to Ethereum blockchain ecosystem
At the top, this week XRP prices were $ 0.462128 and downward they traded USD 0.437057. The most active trades, in volumes, with XRP on several pairs this week were ZB.COM (27.34%), Bithumb (6.83%) and Bitbank (7.36%)
For XRP this week, Dilip Rao, Ripple's global infrastructure manager, was widely quoted saying that Ripple is "seriously planning to enter the Middle East market", with the opening of a Dubai office by the end of this year
The Other Movers and Shakers
The other coins that entered the top and bottom this week according to CoinMarketCap (accessed November 4 at 11:30 am IST) were
- iBTC – shows an increase of 401.43
- Quantis Network: an increase of 254.86%
- Bitcoin in incognito – with a 185.71% increase
- RusGas – Showing a decrease of 89.28%
- CariNet: with a decrease of 55.65%
- IXTUS Edutainment – 50.09% reduction
What do you think the feeling of the cryptic markets would be like next week? Let us know your opinions on the same