Podcast: Embed
Bitcoin (BTC) Price Exceeds $62,000 Following Jack Dorsey’s Announcement of Bitcoin Mining Plans
Bitcoin (BTC), the world’s largest cryptocurrency, has gained another 5% to surpass $62,000 levels, bringing it even closer to its all-time high. BTC is now trading 4.53% higher at $62,101, with a market value of $1.16 trillion as of press time. According to Santiment, an on-chain data source, inactive BTC is moving at an increasing rate. Square CEO Jack Dorsey hinted late Friday that the company would enter the bitcoin mining market. Dorsey stated on Twitter that the company is thinking about developing a “bitcoin mining solution built on bespoke silicon and open source for consumers and businesses worldwide.” If Square follows through on this, Dorsey stated that the business will “develop in the open in conjunction with the community.”
Polkadot’s and Cardano’s footprints may lead to a fork in the road for DOT
Polkadot(DOT) creators Gavin Wood and Robert Habermeier revealed Polkadot’s highly awaited para chain auctions, raising market expectations for the 8th-ranked currency. In response to the market’s growth expectations, DOT gained 15% in less than three days. Nonetheless, this isn’t the first time the alt’s price has risen in response to widespread social expectation.
Similarly, before the debut of its smart contracts on September 12th, Cardano set a new ATH amid strong expectations and social volumes. However, one week before the debut, the altcoin lost about 20% of its value and did not witness any significant price gains after the introduction.
In fact, the cryptocurrency‘s price has been declining since then. At the time of writing, ADA was valued at $2.20, a decrease of 26.38% from its all-time high. Needless to say, this tendency raises questions about whether the Department of Transportation may suffer the same fate.
250,000 traders have signed a petition to bring Shiba Inu (SHIB) on the Robinhood platform
The rapid surge in the price of Shiba Inu (SHIB) garnered a lot of attention in October, and the community behind the pet-meme cryptocurrency rallied to keep the momentum going. Following the remarkable gain, demand for Shiba Inu’s inclusion in the popular investment platform has increased.
Supporters of “Dogecoin killer” have signed a petition on Change.org pushing trading platform Robinhood to offer the popular pet-meme cryptocurrency for trade. “Let’s encourage Robinhood to be the first traditional brokerage to jump on this train,” the petition said, adding that adopting Dogecoin (DOGE) has been a “great success” for the trading platform and its investors.
Chainlink’s investor problems and how they could be resolved
Chainlink(LINK) has built a reputation for itself in the area with its pricing feeds and oracles. Chainlink has built a reputation for itself in the area with its pricing feeds and oracles. Previously, Bonded Finance used the network’s price feeds to provide cryptocurrency loans.
Several DeFi protocols and GameFi projects have been integrated into the network. As a result, adoption rates have skyrocketed. The network’s VRF was linked with the game Spark Era yesterday, which aids in the fair and secure creation of random NFTs in-game. Previously, Bonded Finance used the network’s price feeds to support cryptocurrency loans. Aside from these developments
“I think the big limiting factor is secure integration which is what we [Chainlink] spend a lot of time working on…”
Chainlink CEO Sergey Nazarov
Uniswap, dydx, and compound are on the increase
DeFi appears to be hastening the next wave of crypto innovation. So much so that the Defi ecosystem is expected to increase by more than 20x in 2021 alone. Uniswap(UNI), dydx, and Compound(COMP) are the most popular of these systems. According to the research, there is widespread interest in the DeFi category for a variety of reasons.
According to recent projections, DeFi might see a $1 trillion infusion from institutional investors in the coming years. The research did, however, make an intriguing extrapolation. While major investors fuel DeFi activity, the ‘United States is the leader in retail sized DeFi transactions. According to the analysis, North Americans sent around $276 billion in cryptocurrencies to DeFi platforms between July 2020 and June 2021. During the same time period, Central, Northern, and Western Europe (CNWE) led the way with $389 million.