Good morning. Happy Chinese New Year, everyone. Here’s what Michelle Phan is doing:
Welcome to Friday Focus, part of our new series: BitPinas Daily. We will look at the price of Bitcoin, Ethereum and the major cryptocurrencies. Crypto is global, but sometimes news that matters happens while we sleep. So we bring to you what’s happening in our space here and abroad.
Market Price as of February 12, 2021:
Bitcoin closed February 11, 2021, at $47,816 per BTC. We’re up 31% in the last 7 days and up 66% since the year began. This is 0.44% below the previous all-time high of $48,025 which was hit on Feb 9. 2021.
Bitcoin’s market capitalization stands today at $897,984,008,511 which is 60% of the entire cryptocurrency market. The entire crypto market, by the way, now has a market cap of $1,482,630,792,804 (-7.2%).
On the table above, there’s the cryptocurrency SLP. If you wonder what that is, check out this article: Playing Axie Infinity vs Minimum Basic Salary in the Philippines.
Table of Contents.
BNY Mellon Will Custody Bitcoin
BNY Mellon is the oldest bank in America, and it IS a big deal that it will begin to custody Bitcoin. The bank will store and transfer BTC and other cryptocurrencies, and crypto will flow through the same systems it uses for traditional currencies and stocks.
That means BNY Mellon will treat crypto as it does traditional assets.
Uber to Consider Bitcoin for Ride and Food Payments
The problem, according to Nathaniel Popper:
Binance Smart Chain
Harvest Finance and Value Defi head to Binance Smart Chain
Harvest Finance, a yield aggregator and Value DeFi, a multi service platform are expanding to Binance Smart Chain, the smart contract platform from Binance. Here’s what Value DeFi said:
U.S. SEC Commissioner Says Market is Ready for Bitcoin ETF
Insights on BSP Guidelines for Virtual Asset Service Providers by Atty. Rafael Padilla
In an article here on BitPinas, Atty. Rafael Padilla, Co-Founder and Trustee of BlockDevs Asia and Professor of Law at San Beda Alabang, examines the updated guidelines for virtual asset service providers released by the Bangko Sentral ng Pilipinas. Rafael recently published the book Fintech: Law and First Principles.
What else is happening
- NBA Top Shot’s $50M in Sales Beats CryptoKitties and Decentraland
- Yellen spins the “crypto for money laundering & terrorism” yarn
- Mark Cuban: “Bitcoin is America 2.0”
This article is published on BitPinas: Uber Considers Bitcoin, DeFi Products Head to Binance Smart Chain