The Coinbase app has surpassed TikTok and Instagram in popularity
As a reminder, Coinbase went public in the spring. It became the first company listed on the Nasdaq exchange representing the cryptocurrency industry.
More recently, the marketplace listed the Shiba token. After that, the value of the digital currency began to grow at an explosive rate.
Coinbase is among the largest cryptocurrency exchanges by trading volume. According to the latest data from CoinMarketCap, the average daily amount of transactions on this platform reached $12.576 billion in October.
The first place is still held by Binance, the trading volume on which is now just over $54.551 billion.
As a reminder, Coinbase went public in the spring. It became the first company listed on the Nasdaq exchange representing the cryptocurrency industry.
More recently, the marketplace listed the Shiba token. After that, the value of the digital currency began to grow at an explosive rate.
Coinbase is among the largest cryptocurrency exchanges by trading volume. According to the latest data from CoinMarketCap, the average daily amount of transactions on this platform reached $12.576 billion in October.
The first place is still held by Binance, the trading volume on which is now just over $54.551 billion.
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India plans to legalize crypto market
Journalists found out that the country's authorities have decided to legalize innovative instruments. The corresponding bill is to be developed by experts from the Ministry of Finance.
Next February, the finance ministry plans to present a document to regulate the blockchain industry. Thus, the Indian authorities decided to finally abandon the repressive course, having realized the futility of the policy of restrictions.
It is possible that the country's Securities and Exchange Board (SEBI) will control digital asset holders.
Journalists found out that the country's authorities have decided to legalize innovative instruments. The corresponding bill is to be developed by experts from the Ministry of Finance.
Next February, the finance ministry plans to present a document to regulate the blockchain industry. Thus, the Indian authorities decided to finally abandon the repressive course, having realized the futility of the policy of restrictions.
It is possible that the country's Securities and Exchange Board (SEBI) will control digital asset holders.
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Indonesia called cryptocurrencies banned
The East Javan branch of Indonesia's largest Islamic organization Nahdlatul Ulama (NU) has expressed its opinion on cryptocurrency. The NU, relying on Islamic law, said digital assets are unsafe investments and called them "haram," which means "forbidden."
The East Javan branch of Indonesia's largest Islamic organization Nahdlatul Ulama (NU) has expressed its opinion on cryptocurrency. The NU, relying on Islamic law, said digital assets are unsafe investments and called them "haram," which means "forbidden."
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⚡ Facebook's announcement of the creation of a meta-universe and its video presentation in general to have a positive effect on cryptocurrency rates, experts believe.
In their opinion, such a meta-universe requires the integration of some digital financial instruments that facilitate the economic interaction of people from different parts of the planet.
In their opinion, such a meta-universe requires the integration of some digital financial instruments that facilitate the economic interaction of people from different parts of the planet.
The Bank for International Settlements believes Stablecoins cause problems for the financial sector
The organization estimates that the new instruments will not be able to solve the problems facing the global economy. If legalized and implemented, stablcoins are likely to create new challenges in emerging markets, despite the fact that fiat-backed tokens were originally seen as instruments designed to simplify domestic and international payments.
Central bank digital currencies (CBDCs) could also add difficulties for the authorities. Households and businesses may switch to investing in tokens in times of crisis, leading to an outflow of funds from bank deposits.
To minimize the risks, BIS analysts offer states to develop strict legislation that would enable regulators to constantly monitor the market and prevent bias in favor of CBDC and prevent the withdrawal of funds from bank deposits.
The organization estimates that the new instruments will not be able to solve the problems facing the global economy. If legalized and implemented, stablcoins are likely to create new challenges in emerging markets, despite the fact that fiat-backed tokens were originally seen as instruments designed to simplify domestic and international payments.
Central bank digital currencies (CBDCs) could also add difficulties for the authorities. Households and businesses may switch to investing in tokens in times of crisis, leading to an outflow of funds from bank deposits.
To minimize the risks, BIS analysts offer states to develop strict legislation that would enable regulators to constantly monitor the market and prevent bias in favor of CBDC and prevent the withdrawal of funds from bank deposits.
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Where are you from?
Anonymous Poll
45%
Africa
6%
North America
3%
South America
2%
Australia
1%
Antarctica
11%
Europe
33%
Asia
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🍔 Burger King will distribute $2.5 million in cryptocurrency to its customers
Fast-food restaurant chain Burger King, in partnership with Robinhood, will give away 20 BTC, 200 ETH and 2,000,000 DOGE to its U.S. customers.
In order to enter the giveaway, you have to spend $5 through the app by Nov. 21. Available in the U.S. only.
Fast-food restaurant chain Burger King, in partnership with Robinhood, will give away 20 BTC, 200 ETH and 2,000,000 DOGE to its U.S. customers.
In order to enter the giveaway, you have to spend $5 through the app by Nov. 21. Available in the U.S. only.
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"Bitcoin is here to stay." Senator Lummis called cryptocurrency the standard.
The Wyoming Republican argues that altcoins may not be as decentralized as a major digital asset:
In June, Lummis claimed to buy bitcoin "at the bottom." She added of continuing to invest in the cryptocurrency as its price declines. The senator also cited the benefits of bitcoin. According to her, the digital coin could curb the devaluation of the U.S. dollar and other fiat currencies.
The Wyoming Republican argues that altcoins may not be as decentralized as a major digital asset:
In June, Lummis claimed to buy bitcoin "at the bottom." She added of continuing to invest in the cryptocurrency as its price declines. The senator also cited the benefits of bitcoin. According to her, the digital coin could curb the devaluation of the U.S. dollar and other fiat currencies.
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🗓 From November 7 to 11 the SOLANA conference will be held in Lisbon
Speakers include "Curly Sam" (FTX exchange CEO Sam Bankman-Fried)
The rumor is that SOL is expected to become one of the main currencies in Mark Zuckerberg's Metaverse. If this information is confirmed, the price of $200 per coin could be pretty low (NFA)
Speakers include "Curly Sam" (FTX exchange CEO Sam Bankman-Fried)
The rumor is that SOL is expected to become one of the main currencies in Mark Zuckerberg's Metaverse. If this information is confirmed, the price of $200 per coin could be pretty low (NFA)
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💵 Coinbase began lending up to $1 million in exchange for BTC.
The annual rate is 8%, the loan is issued without credit history check.
The annual rate is 8%, the loan is issued without credit history check.
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"A correction is inevitable"
PlanB, a well-known author of the Stock-to-Flow (S2F) model in the crypto community, Blockstream CEO Adam Back, Bloomberg Senior Commodities Strategist Mike McGlone and analysts at the British banking corporation Standard Chartered predict that bitcoin is capable of rising to $100k in the current growth cycle.
PlanB, a well-known author of the Stock-to-Flow (S2F) model in the crypto community, Blockstream CEO Adam Back, Bloomberg Senior Commodities Strategist Mike McGlone and analysts at the British banking corporation Standard Chartered predict that bitcoin is capable of rising to $100k in the current growth cycle.
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🐳 Bitcoin whales storing more than 1,000 BTC in their wallets increased their assets by 142,000 BTC in one week.
They quickly increased their assets at the beginning of the year, adding 185,000 bitcoins to their holdings by early February. They then sold and bought through price cycles. As of Oct. 25, they had added 142,000 bitcoins to their assets.
They quickly increased their assets at the beginning of the year, adding 185,000 bitcoins to their holdings by early February. They then sold and bought through price cycles. As of Oct. 25, they had added 142,000 bitcoins to their assets.
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🇺🇸 Argo Blockchain seeks to invest up to $2 billion to build an 800 MW mining center in Texas.
🐋 The balance of BTC on exchanges reached a 3-year low
According to Glassnode, the outflow of the first cryptocurrency from trading platforms continues - the balance of BTC on centralized exchanges today reached a new three-year low of 2.45 million BTC.
Apparently investors keep believing in growth and are withdrawing coins to their personal wallets.
According to Glassnode, the outflow of the first cryptocurrency from trading platforms continues - the balance of BTC on centralized exchanges today reached a new three-year low of 2.45 million BTC.
Apparently investors keep believing in growth and are withdrawing coins to their personal wallets.
📊 PlanB, founder of the Stock to Flow (S2F) model, tried to explain his forecast of $98,000 per Bitcoin in November.
"Some people think Nov close $98K is too big a jump. It is +60% from current level. Yes that is a big jump. But bitcoin did this many times before:
— May 2019 +62%
— August 2017 +66%
— May 2017 +66%
— November 2013 +451%
— October 2013 +61%
— March 2013 +181%
— February 2013 +63%"
"Some people think Nov close $98K is too big a jump. It is +60% from current level. Yes that is a big jump. But bitcoin did this many times before:
— May 2019 +62%
— August 2017 +66%
— May 2017 +66%
— November 2013 +451%
— October 2013 +61%
— March 2013 +181%
— February 2013 +63%"
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Start of "altcoin season"
A full-fledged altcoin season kicked off this week after Ethereum renewed its all-time high above $4.67k.
If bitcoin keeps showing passive dynamics in the current correction, it will further boost altcoins.
Very likely, the current "altcoin season" is to be of local nature, as the preferred scenario until the end of the year and the beginning of the next year is an uptrend for bitcoin with the aim of updating its historical maximum.
A full-fledged altcoin season kicked off this week after Ethereum renewed its all-time high above $4.67k.
If bitcoin keeps showing passive dynamics in the current correction, it will further boost altcoins.
Very likely, the current "altcoin season" is to be of local nature, as the preferred scenario until the end of the year and the beginning of the next year is an uptrend for bitcoin with the aim of updating its historical maximum.
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