Welcome to today’s crypto news overview:
BTC has been doing well for the past few days, climbing from $ 60,000 to $ 66,000 on November 8. It went even further and exceeded the October maximum of 67,000 USD. He then recorded further historical highs, the last of which reached $ 69,000 on November 10. Here, however, the situation changed and within a few hours the asset fell by several thousand dollars to a daily bottom of 63,000 USD.
After causing great pain, BTC rebounded and calmed down about $ 65,000. It hovered around this level for a while before falling to $ 64,000 a few minutes ago.
Most altcoins have recently mimicked the performance of BTC. Two days ago, ETH also recorded a new all-time high of almost $ 4,900, but then fell by several hundred dollars and bounced back. Since then, ETH has been in the red again with a small daily decline of 1.3%.
SHIB whales bought 20 billion tokens during the decline
The recent pullback of the Shiba Inu may have raised concerns in some trading communities, but big cryptocurrency players, also known as whales, do not appear to be concerned about the recent price action, according to watcher.guru.
The average purchase amount of whale level addresses sticks to $ 1 million. The average number of tokens purchased was 20 billion. The whales have been constantly adding more tokens since each drop since October 28.
The second largest coin to gain significant purchasing power was ETH, while the average purchase amount remained at $ 176,000 and 39 ETH, respectively.
Energy Minister: legal crypto miners in Kazakhstan will not face energy restrictions
While Kazakhstan, a popular destination for Chinese crypto miners looking for more friendly areas, continues to struggle with electricity shortages, the country’s energy minister said the office would not limit energy consumption for legal crypto miners, according to a government statement.
Magzum Mirzagaliyev, Kazakhstan’s energy minister, said at a meeting with industry players that crypto miners complying with legal requirements would not be subject to restrictions or be disconnected from the energy grid unless they carried out activities that would undermine the country’s energy security.
The National Association of Blockchain Industry and Data Centers, a local industry association in Kazakhstan, also said in a statement that it was pleased that the authorities were closing down illegal miners and that it saw a bright future for the sector in the country.
Banks, crypto exchanges, companies
Binance allegedly asked users to return the Dogecoin received after the last update
The latest update of the Dogecoin network has led to problems on the world’s leading crypto exchange, Binance. The popular memecoin was updated 1.14.5 earlier this week to address some security issues, reduce transaction fees, and improve overall performance.
However, the update caused problems for Binance, which reported that it had discovered a “minor issue with DOGE withdrawals.” As a result, the exchange temporarily suspended token withdrawals and also contacted Dogecoin’s development team to resolve it.
The situation apparently worsened for some users again, as many of them complained on Twitter that Binance had contacted them and asked for tokens. The Dogecoin development team on Twitter confirmed that some transactions actually got stuck on Binance more than a year ago and that both parties are in contact.
Discord backs down on Ethereum integration after community feedback
Following a community response, the Discord social media platform reversed its plans to integrate Ethereum.
Discord CEO Jason Citron indicated earlier this week that the social media platform and Ethereum could be integrated.
On November 8, he posted a preview on Twitter showing the integration of Metamask and WalletConnect web wallets on the Discord platform. However, some Discord communities have been outraged by environmental concerns about Ethereum and NFT power consumption.
On November 11, Citron confirmed that this concept is not planned to be further developed.
Coinbase Pro plans to launch stablecoin tied to the Japanese yen
Coinbase Pro announces that it plans to launch stablecoin tied to the Japanese yen, reportedly the first of its kind. GYEN is referred to as the “first regulated digital Japanese yen.” The project states that it is 100% covered by Fiat currency.
Coinbase first released a press release earlier this week announcing Coinbase Pro’s plans to launch a GYEN order book with the US dollar, euro and Tether (USDT). However, Coinbase Pro later said on Twitter that the start of trading was postponed.
Although GYEN is described as a stablecoin tied to the yen, it rose briefly to a historic high of $ 0.01477139 on Wednesday, significantly outpacing the yen against the US dollar. Since then, the price of a digital asset has declined, trading at $ 0.008761 at the time of writing and almost matching the yen in dollar terms.
Double Eleven: 240,000 e-CNY orders on JD.com’s leading e-commerce platform
More than 100,000 consumers have used the digital currency of the Bank of China (CBDC) to make approximately 240,000 purchases on China’s leading e-commerce platform JD.com as part of the annual Double 11 shopping festival [11.11], stated in the platform report. Still, it’s probably only a fraction of total digital sales on November 11th.
Double11 refers to China’s online sales day, which falls on November 11 each year and is something like the Chinese version of Black Friday. The Chinese digital yuan was first used at the Double11 shopping festival on JD.com, which issued e-CNY red envelopes to users in 12 e-currency pilot cities before and during the shopping festival to test and support e-currency adoption rates. JD.com is the first Chinese e-commerce platform to announce that it accepts e-CNY.
However, the volume of e-CNY transactions during the festival may make up only a small part of its total transaction volume. JD’s total turnover during the festival was 349.1 billion yuan (approximately $ 54.66 billion).