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Hello Hive Fam!
I'm back with another Fintech Flash, where I go over the biggest news happening in Fintech and blockchain over the last week.
Here's what was covered in Episode 22:
Chainlink joins the all time high club. As Bitcoin has been trading sideways the last days, other, smaller coins are on their own wild ride to the top. Coins such as AAVE and (XTZ) increased by almost 20%. Other notable gains were made by Uniswap’s UNI and Cardano’s ADA, which both jumped approximately 10% overnight. The star of the last few days has Chainlink.. The price of the coin, which powers Chainlink’s decentralized oracle network, hit an all-time high over $22.
Polkadot overtakes XRP to become the fourth largest cryptocurrency. .According to figures from leading analytics portal Coingecko, DOT has flipped Ripple’s XRP in terms of market capitalization following a massive gain. The big price move has pushed its market cap to $13.7 billion dollars. The platform is fully interoperable, allowing other blockchains to connect to the network as a sidechain.
The Financial Crimes Enforcement Network (FinCEN) has extended the comment period for its controversial rule that would force crypto exchanges to record and report certain transactions. Submitted last month, the proposals would require exchanges to store name and address information for customers transferring over $3,000 per day to private crypto wallets. As of January 8, more than 65,000 comments were submitted with the vast majority of them opposing the proposed regulation.
In the last few months, reports show that major institutional investors have been scooping up Bitcoin in droves. Several major firms have collectively purchased hundreds of millions of dollars worth of Bitcoin, and these publicly-traded firms have adopted Bitcoin as a reserve asset. MicroStrategy, a prominent business analytics platform, has adopted Bitcoin as its primary reserve asset and recently purchased another 590 million dollars worth of bitcoin..
Cryptocurrency exchange eToro has warned customers that trading limits may be put in place due to a surging demand for cryptocurrencies. Katie Evans, the global PR and communications manager at eToro, told Decrypt that, “If the demand for crypto continues we might once again see liquidity issues in crypto markets.”
Ethereum Co-founder Wants to Help Jack Dorsey Decentralize Twitter. Dorsey is an outspoken Bitcoin fan, and his belief in the promise of decentralized technology is a big reason why Twitter is preparing for a potential future move away from centralized service. The tweet thread prompted Charles Hoskinson, the founder of Cardano and co-founder of Ethereum, to encourage Dorsey to open up development on Blue Sky to the community.
Hope you enjoyed it and i'll be back next week for another Fintech ⚡️Flash!
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