Tuesday Trades: Normalcy
Three days before Chrismas. Bitcoin recently receded along with the entire cryptocurrency market. Let’s get on with the news.
Welcome to Monday Markets, part of our new series: BitPinas Daily. We will look back at all the major news and updates that happened this week. Crypto is global. The markets donโt sleep.
Market Price as of December 22, 2020:
Bitcoin | $22,894 | -2.6% |
Ethereum | $611.11 | -4.8% |
XRP | $0.520 | -7.4% |
Tether | $1.01 | 0.3% |
Litecoin | $106.09 | -8.9% |
SLP | $0.024 | -2.0% |
Bitcoin closed December 21, 2020, at $22,894 per BTC. Weโre up 18.9% in the last 7 days and 220% since the year began. This figure is 5.6% below the previous all-time high of 24.225.28 which was hit on Dec. 20, 2020.
Bitcoinโs market capitalization stands today at $425,400,053,656 which is 65.26% of the entire cryptocurrency market.
On the table above, thereโs the cryptocurrency SLP. If you wonder what that is, check out this article: Playing Axie Infinity vs Minimum Basic Salary in the Philippines.
Industry
MicroStrategy purchases another 29,646 bitcoin from funds raised via convertible debt.
MicroStrategy recently announced it had purchased an additional 29,646 bitcoin from funds it raised through senior convertible notes. Put simply, it borrowed money to purchase Bitcoins. The companyโs total bitcoin purchase is now more than $1 billion.
MicroStrategy now has 70,470 BTC in its reserve. (The Block)
Uniswap
Uniswap is the number one as gas guzzler on Ethereum.
Uniswap has been the top decentralized application for the amount of fees used, with Tether ranking second. The automated market maker has 24,000 different markets for trading and has around 400,000 monthly users. (Coindesk)
Exchanges
U.K. Exchange Exmo pauses withdrawal after suspected hack.
Exmo said it detected suspicious withdrawal activity and that withdrawals are temporarily suspended as they investigate the issue. The exchange listed the addresses where the funds are withdrawn. It assured users that any funds lost will be covered by the exchange completely. (Exmo)
Philippines: #CryptoPH
Axie Infinityโs new update.
Axie Infinityโs December 2020 update has finally arrived. Here are some of the things to watch on the arena:
- AXS Rewards in PVP
- Balance Updates
- Matchmaking Rating Change
- SLP Claim Period
Check out Axie Infinityโs announcement on its blog for more information.
Colin Goltraโs Unholy Unions.
I casually asked this over dinner yesterday: โWhat is art? Why does it matter?โ This was after reading โUnholy Unionsโ by #CryptoPHโs Colin Goltra, Director of SEA at Binance and a crypto art collector.ย
In his article, he said the arts define how a society expresses itself in a given moment of time and future generations look into the art of a particular era to understand people of a different time.
Throughout history, a โgolden ageโ refers to a period when great tasks are accomplished, be it for a nation, a specific art, movement, or activity. Colin did not say if weโre at the golden age of crypto, but he did say weโre at a point wherein what the industry has built in the last 10 years have transitioned from being obscure, to being ridiculed, to now possibly being accepted.
Continue reading Colin Goltraโs โUnholy Unionsโ here.ย
What else is happening?
- Ledger wonโt reimburse users after a major data hack. (Decrypt)
- Raoul Pal on the coming transformation of monetary and fiscal policy. (Coindesk)
- JPMorgan: Bitcoin is โoverboughtโ but will suck money out of gold. (Cointelegraph)
This article is published on BitPInas: Tuesday Trades: Normalcy