Table of Contents
Welcome to today’s overview of crypto news:
MARKETS
Yesterday, the primary cryptocurrency was at $ 63,000 and slightly above that price, before unsuccessfully rising to $ 64,000. However, the inability to continue upward changed the direction of development.
BTC lost several thousand dollars in the following hours and stopped just above $ 61,000. A few minutes ago, however, it fell by more than $ 3,000 to a lower price level from October 15 to $ 58,000.
It has recovered about $ 1,000 to date, but is still well below $ 60,000. This increased volatility has caused a large number of liquidations of leveraged traders. According to Bybt, the 24-hour liquidation climbed to more than $ 750 million.
ETH slipped below $ 4,000 after approaching again a few inches from a new all-time high a few hours ago. However, the ETH has so far failed to break its previous record and the subsequent refusal has pushed it hard to the south.
Cryptocurrencies
Shiba Inu price exceeded the all-time high for the third time in 4 days
According to CoinMarketCap, Shiba Inu (SHIB) climbed to another all-time high and today set its new record at $ 0.00005486. It is now the 11th largest cryptocurrency with a market capitalization of $ 21.5 billion.
In the last 24 hours, the price of SHIB has increased by more than 32%. The price of SHIB has risen sharply since the weekend after the SHIB community account on Twitter @ShibaInuNews shared a screenshot with a survey conducted by Robinhood on Saturday to see if SHIB should be listed.
Shiba Inu set a record high of $ 0.00004442 on Sunday after rising sharply by 60%. At that time, SHIB was the 13th largest cryptocurrency by market capitalization. On Tuesday, it broke this record and set a new maximum of 0.00004853 USD.
After 11 years, a sleeping BTC whale with a large supply of BTC woke up
On May 17, 2010, the BTC miner received 50 BTC and left them intact for the next 11 years. On October 22, activity was recorded at the address, as it seemed that after ten years, the miner had monetized his remuneration and at the same time earned his fortune sideways.
In 2010, as much as 50 BTCs could be purchased for less than $ 4, but today the price of 1 BTC is over $ 60,000, which would mean a huge profit of $ 3 million for miners. That’s a staggering profit of more than 76,000,000% in just 11 years if a miner decides to sell his assets.
At that time, the BTC block fee for miners was set at 50 BTC with halving scheduled every four years. After three halvings, the block reward is now 6.25 BTC. Despite halving, BTC mining has become a lucrative business like never before due to the rising trend in asset prices.
Banks, crypto exchanges, companies
Photoshop introduces the “Prepare as NFT” option and support for cryptocurrency addresses
Adobe has announced that it will add the “prepare as NFT” option to Photoshop. It will also allow users to add cryptocurrency addresses to the software and to the Behance portfolio website.
Adobe now appears to be joining the non-fungible token (NFT) craze because it has announced that its Photoshop product will offer the “prepare as NFT” option. The company announced this at the MAX annual conference on October 26, along with several other updates to accommodate what appears to be a new era for digital artists.
Among the most relevant updates for cryptography is the fact that Adobe’s Behance website now allows artists to connect to a website with a cryptocurrency portfolio. In addition, it also focuses on supporting several blockchains, including Polygon, Solana, Tezos and Flow.
Robinhood’s revenue from cryptocurrency transactions fell by almost 80% in Q3
Robinhood – a third-quarter earnings report, released on October 26, and it doesn’t look good in the cryptocurrency field.
The company said digital asset activity fell from record levels in the previous quarter, leading to a significantly smaller number of newly funded accounts. This resulted in lower revenues in the third quarter of 2021 compared to the second quarter.
Robinhood reported quarterly crypto transaction revenue of $ 51 million. That’s an incredible 860% more than $ 5 million in the third quarter of 2020, but 78.1% less than $ 233 million in crypto revenue in the second quarter of 2021.
The lawyer says that blocking Binance Colombia’s accounts without a court order is illegal
Many Colombians have been claiming for weeks that Binance has blocked their accounts and frozen their funds. As a result, lawyer Camilo Suárez Venegas provided an overview of the case, in which he expressed optimism that the persons concerned would reach a favorable settlement, according to Criptonoticias.
He considers that a crypto exchange can restrict an individual user only if the court so orders through a preliminary solution, which is described as “a measure to guarantee the payment of future damages before a court decision”.
Given that many of those affected owned more than one BTC, this situation has caused considerable concern among individuals who have not yet received a clear explanation.
CBDC, Regulation
Beijing will launch a second e-CNY pilot zone
Beijing’s city-center has officially announced the launch of the e-CNY business zone to “explore the renminbi digital financial system.” The plan includes support for experimental digital currency projects, including the expansion of the 5G infrastructure to enable faster transactions.
The e-CNY is expected to be ready to launch until the February Beijing Winter Olympics, when it may become the world’s first major fiat digital currency (the Bahamas launched the world’s first CBDC in October 2020). It is also commonly called the digital renminbi and the digital yuan.
