It has been a good week for the cryptocurrency markets. Bitcoin finally broke the $ 11,000 cap, and moved on. According to some experts, the coin could be on its way to a big 2017-style bullish rally. Other analysts have identified five events that could move the markets this week, including the effect of the elections on the dollar, Europe’s struggles with Brexit and the coronavirus, and the high hash rate of Bitcoin.
The investment experts of Stone Ridge Asset Management they have been paying attention. After executives made personal investments in cryptocurrencies, the company created a billion dollar spin-off company with an investment of 115 million dollars in Bitcoin. Square she has been just as farsighted. The payment company has now put the 1 percent of the company’s assets —About $ 50 million— in Bitcoin.
The growth in popularity of cryptocurrency has led some people to speculate that the Crypto banks will likely outperform fiat banks in the next three years. In Italy, the banking system is trying to stay ahead. About 100 banks there now use the Spunta blockchain network to speed up data transfers and deals.. In China, the city of Shenzhen gave away $ 1.5 million of a digital currency controlled by the country’s central bank, the People’s Bank of China. Y the Winklevoss twins Gemini exchange continues to deploy regulated payment options for customers in the UK.
On the American continent, things are … well, a little more cautious. The G7 has said that oppose Facebook’s Libra project until there is more supervision. Y Elon Musk has denied that his Tesla Gigafactory has Bitcoin ATMs.
In the DeFi world, things look smoother. Chainlink could be about to lose its leadership in the ecosystem. The competition is heating up. Constellation Network is building a DeFi project in its Hypergraph protocol and has announced the support from the first sponsors, including FBG Capital and Alphabit Fund.
Cornell University has revealed that the most downloaded dissertation in the last eight years is Adem Efe Gencer’s proposal for Aspen, a algorithm for distributing workload in a peer-to-peer network. (If you are looking for a good place to read that work, you can do worse than choose he crypto cruiser Satoshi. Soon it will be moored in the bay of Panama).
That certainly makes this a good week.
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