Among the highlights of this week are the milestones reached by bitcoin and ether, the two most important cryptocurrencies on the market. The market capitalization of the first cryptocurrency approached $ 1.1 trillion on February 20, while the price of the Ehereum cryptocurrency, surpassed $ 2,000 for the first time in its history.
This week Bitcoin broke the psychological barrier of $ 50,000 and the price even surpassed $ 58,000 per unit. The average advance in the week was 17%. At the time of writing this article, BTC is trading at USD 56,267, as reflected in the market price of Latin America and Spain, according to the CriptoNoticias price calculator.
With CriptoNoticias, those interested can keep up to date on the changes in the market prices of bitcoin and ether in relation to their local currency. To do this, they can visit the BTC and ETH Prices section, which has a calculator to make conversions quickly and easily to their national currency.
These are the most outstanding news:
On February 19, Bitcoin surpassed $ 1 trillion in market capitalization, a figure that rose the next day and approached $ 1.1 trillion. The cryptocurrency is placed in the list of the 8 assets with the highest capitalization value (including gold and silver), and among the six most valuable companies in the world. On the other hand, the price of Ethereum’s native cryptocurrency, ether (ETH) also surpassed milestones, passing $ 2,000 for the first time. The second cryptocurrency according to market capitalization registers an increase of more than 170% so far this year. 2.7% of the total supply of ethers (ETH) that are in circulation are now locked in the Ethereum 2.0 staking, making up the funds of the network validators. The total deposited already reaches 3,100,000 ETH, which represents, with ether priced at more than $ 2,000 per unit, a total of more than $ 6 billion locked in Ethereum 2.0. The New York Digital Investment Group (NYDIG) on February 16 filed a request for the United States Securities and Exchange Commission (SEC) to approve a bitcoin exchange-traded fund (ETF). The investment fund that would be called NYDIG Bitcoin ETF, and would be managed by Bancorp Fund Services. For its part, BlackRock, the world’s largest asset management firm, finally accepted that they have been entering the world of bitcoin as an investment. This was revealed by its director of Investments, Rick Rieder, who did not give details, amounts or the incidence of this incursion in his operations. Meanwhile, Michael Saylor, CEO of MicroStrategy said they have completed a new debt issue through convertible notes or promissory notes, for the acquisition of approximately 20,000 BTC. In a statement, he explained that the new debt issuance reaches USD 1,050 million. Deutsche Bank, Germany’s largest bank, announced its plans to offer a cryptocurrency custody and sale service. In a report delivered to the World Economic Forum, he presented his plan to launch a platform aimed at institutional clients. In the midst of this panorama, billionaire businessman and founder of Microsoft, Bill Gates, spoke out on bitcoin. He assured that he has a neutral stance and made it clear that so far he has not invested in cryptocurrencies. Ripple Labs, issuers of the cryptocurrency XRP, and the United States Securities and Exchange Commission (SEC) desisted from reaching a prior agreement, before the trial which is scheduled for this February 22, 2021. Both parties expressed their position in a letter sent on February 15, 2021 to the United States District Judge, Analisa Torres. Regarding the lack of agreement, Ripple argued that “the discussions took place under a previous administration of the SEC and division directors who also left office.” In Nigeria, bitcoin is trading at more than $ 98,000, and the price continues to climb out of control amid a ban on trading digital assets imposed by the Nigerian government. The move makes the value of the cryptocurrency 56% more expensive than the global average. The increase has been fueled by the current BTC rally and continues to climb towards $ 100,000. Meanwhile, on the other side of the world, the firm KIKLABB, owned by the government of the United Arab Emirates (UAE), reported that in the free zone of Port Rashid, in Dubai, companies will be able to make all payments regarding business licenses and visa fees in bitcoin and other cryptocurrencies such as Ether (ETH) and Tether (USDT).
If you want to know the meaning of several words in the crypto world terminology, you can consult them in the extensive Glossary of CryptoNews.
BIP (Bitcoin Improvement Proposal): literally, Improvement Proposal for Bitcoin. Defines the technical specification of the change to be made to the protocol between developers. This is how new features and improvements are proposed to the Bitcoin blockchain.
Cryptotutorial of the week:
Crypto Earn is a cryptocurrency interest deposit service built into the Crypto.com app. This service allows you to earn interest payable every week on more than 30 crypto assets available on the platform. In this tutorial we guide you step by step on how you can use Earn from Crypto.com.