Welcome to today’s overview of crypto news:
Over the weekend, BTC still suffered because he failed to break the $ 55,000 mark. The Bears were in complete control of the market and squeezed the asset to a minimum of $ 53,500.
On Monday morning, however, the situation changed rapidly as the cryptocurrency rose sharply by more than $ 4,000 and briefly exceeded $ 58,000. A few hours later, it launched another rise, which this time resulted in a touch of $ 59,000.
However, as in several previous attempts to overcome this particular level, BTC failed and the subsequent refusal drove it south to an intraday low of $ 56,000.
Most altcoins remained relatively calm on a daily scale. ETH has improved by less than 4% in the day, but costs over $ 4,400. Just a few days ago, the ETH fell below $ 4,000.
The number of active Cardano addresses has increased by more than 200% despite the fall in the price of ADA
The number of active addresses in the Cardano network has increased by more than 200% this month. It currently stands at 191,500, although it peaked at 485,000 at the end of November.
According to Messari, the number of active addresses in the Cardano network jumped by more than 25% in November 2021. The number of ADA active addresses peaked at more than 485,000, although it is now just over 191,500. At the beginning of the month, the number was around 161,000.
The Cardano network and its native ADA asset are doing well this year after a number of upgrades. The most significant of these was the Alonzo upgrade, which introduced smart contracts into the platform.
Banks, crypto exchanges, companies
Huobi will set up headquarters in Singapore
Despite regulatory problems in Singapore, Huobi Global has chosen the country as its regional headquarters. Another will have an exchange established in Europe. Bloomberg agency announced Huobi’s intentions earlier today, referring to the co-founders of the exchange Du Jun.
Singapore will become the company’s new headquarters, because after a massive crackdown on anything remotely related to cryptocurrency, it is no longer able to operate from China. It is worth noting that Huobi has had offices in Singapore for several years, but has now decided to move the entire base of operations to the city-state.
Du Jun further explained that the exchange is looking for a regional headquarters in Europe, which could be in France or the United Kingdom. Interestingly, Binance is also exploring France as such.
Kraken Exchange lists SHIB
The American Exchange Kraken has announced that it will support the Shiba Inu (SHIB) coin from November 30.
The minimum deposit will be 373,000 SHIB ($ 16) and the minimum trading volume will be 50,000 SHIB ($ 2). SHIB will initially be able to trade against USD and Euro pairs, however Kraken Futures and margin trading for SHIB will not be available at launch.
Kraken’s Australian CEO Jonathon Miller said the crypto exchange has supported projects with a clear demand for trading, including SHIB.
India has misinterpreted the ban on private cryptocurrencies, says the crypto lawmaker
Former Finance Minister Subhash Garg, rejected the idea of banning “private cryptocurrencies” as a misinterpretation, while emphasizing the huge potential of cryptocurrencies and blockchain technology.
Parliamentary debates over the controversial cryptocurrency bill have raised concerns about the cryptocurrency ban, without clearly defining the scope of the ban. The announcement was followed by an episode of panic selling among Indian investors.
According to him, the Indian government should formulate a bill after consultation with stakeholders and cryptoinvestors. In addition, the bill proposes to ban private cryptocurrencies without clarifying what the word “private” means.
The Bank of Israel is accelerating the development of the CBDC, but no end date has been set
At a time when the world is in a hurry to adopt the CBDC, the Bank of Israel is accelerating its pace. According to reports, it is accelerating its studies, research and preparations for the possible issue of its digital shekel.
Its goal is to create a more efficient payment system. However, the governor of the Central Bank of Israel stated that, like many other central banks, it had not yet decided on its issuance. Amir Jaron noted that the central bank is still researching this issue.
Although the country’s central bank has given up on the idea of issuing the CBDC in 2017, it is ready to reconsider the idea. According to the governor, as payment methods unrelated to the central bank’s monetary base developed, it became difficult for the Bank of Israel to navigate its monetary policy.