October 16, 2021

The Catholic Transcript

Complete News World

Cryptocurrencies Today: Bitcoin Goes to $50K, Meme Coin Rise 50%, More News

Cryptocurrencies Today: Bitcoin Goes to $50K, Meme Coin Rise 50%, More News

Sao Paulo – Bitcoin (BTC) is back to open today at a higher level after starting the month of October with solid gains and has just crossed the $50,000 mark again, a mark it hasn’t reached for a month. The cryptocurrency was trading at $50,183 at 7am and is starting to accumulate a rally of 5.5% on the day and 14% on the week.

The price is coupled with a strong inflow of institutional capital, which helped protect the $40,000 support level last week with a daily injection of $1.75 billion, according to data from analysis house Glasnode.

Top experts in Brazil teach you to invest better in this asset class: Meet the Cryptoinvestor cycle!

Other cryptocurrencies in the market, called altcoins, also posted strong gains on the day. ethereum (ETH) up 2.6% to $3,448 and the Internet PC token (ICP) advances 12.8%. But the highlight today is the cryptocurrency Shiba Inu (Shiba Inu).graying), which is valued at more than 50% in the last 24 hours, followed by various assets from the world of decentralized finance (DeFi)

Gains in the cryptocurrency market, which returned to $2.27 trillion, also come on the heels of increased adoption in Asia, despite recent restrictive measures imposed by the Chinese government. According to Chainalysis, cryptocurrency transactions in Central Asia, South Asia and Oceania increased by 706% in one year to $572.5 billion – the largest share was invested by institutional funds.

In Brazil, the regulated market for cryptocurrencies won the first options to invest in non-fungible tokens (NFT), a sector that shows strong growth during the year and plays an important role in popularizing games such as Axie Infinity (AXS), which provides income to the player.

Check out the performance of major cryptocurrencies at 7:00 AM:

Cryptocurrency price Change in the last 24 hours
Bitcoin (BTC) 50,183 USD + 5,5%
Ethereum (ETH) 3,448 USD + 2.6%
Cardano (There is) $2,25 USD +2,4%
Binance Coin (BNB) 436 USD + 3,5%
XRP (XRP) 1.06 USD + 2.6%

Cryptocurrencies with their highest levels in the last 24 hours:

Cryptocurrency price Change in the last 24 hours
Shiba Inu (graying) USD 0.00001353 + 54.7%
two kidneys (Clay) $1,42 + 14.7%
internet computer (ICP) 55,28 USD + 12.8%
piles (STX) 1,45 USD + 10.09%
flow (flow) $21.56 USD + 10.07%

Cryptocurrencies with the highest losses in the last 24 hours:

Cryptocurrency price Change in the last 24 hours
dYdX (DYDX) USD 23,94 -7.8%
OMG network (My God) USD 16,61 -7.0%
Axi Infinity (AXS) 141.23 USD -6.1%
Tezos (XTZ) 8.54 USD -5.9%
Qatom (QTUME) USD 13.49 -4.0%

Check out how crypto ETFs closed in the last trading session:

ETF price disparity
Hashdex NCI (HASH11) 48,58 BRL + 3,60%
Hashdex BTCN (BITH11) 6499 BRL + 5.67%
Hashdex Ethereum (ETHE11) 55.76 Brazilian Real + 4.22%
QR Bitcoin (QBTC11) 17.04 BRL +4.86%
QR Ether (QETH11) 13.48 Brazilian Real +4.90%

Check out the main news from the cryptocurrency market this Tuesday (5):

Vitreo announces a fund that invests in NFTs

The Vitreo manager is launching until Wednesday (6) two new funds that invest in assets linked to the non-fungible tokens (NFT) sector. Investors who choose shares of the new products will receive an offer of six NFT games combined in a play-to-win format (play to win), such as Axie Infinity (AXS).

One of the funds will target qualified investors, will be actively managed and will provide 100% exposure to cryptocurrency activity in the basket, as permitted by the Brazilian Securities Commission (CVM) rule.

The second fund will be offered to ordinary investors (individuals) and will have 20% exposure to digital assets through active management. The rest in the ETF will be allocated to the cryptocurrency that tracks the Nasdaq Crypto Index.

The new products will add to the 21 options available on the Brazilian market since 2018. So far, the boxes Accumulated $2.7 billion in assets.

Stablecoin USDC issuer under investigation in the US

Circle, issuer of stablecoin (cryptocurrency paired with fiat currency) USD Coin (USDC) is under investigation in the US and has been summoned by the US Securities and Exchange Commission (SEC) to provide clarification.

The subpoena was issued in July, but only revealed in a document published yesterday on the SEC website. Circle said in a statement that it would cooperate with the SEC by providing “documentation and information about some of our interests, client programs, and operations.”

No further details of the investigation were revealed, but the case came to light shortly after Circle, a cryptocurrency income producer, was announced. Suspicion is that the SEC is watching the news and may block its release just as it did with a similar product Announced by Coinbase which was suspended shortly after pressure from regulators.

The investigation also comes amid a widespread attack by US regulators against stablecoins, which they believe threaten the stability of the financial system through an alleged failure to protect users’ capital.

USDC is the second largest stablecoin in the world, after only Tether (USDT), with a market capitalization of $32.3 billion.

Ethereum was worth $6 trillion in settled transactions in one year

Ethereum has reached an impressive mark of $6.2 trillion in settled transactions in the past 12 months, an increase of 369% over the previous year. Of these, US$1.5 trillion passed through the blockchain only in the third quarter of 2021. The data is from the analysis house Messari.

According to the report, about 55% of this amount comes from transactions of stablecoins such as USDT and USDC, which run on the Ethereum network. The rest is from the original cryptocurrency ETH, whose price has also followed the trend and has already increased by 876% in the past 12 months.

The large volume is fueled by booms in decentralized finance and NFTs, and is directly reflected in the profits of miners, who earn up to 43 times more than those devoted to bitcoin mining.

On the other hand, the days of the Ethereum mining industry are numbered: an Ethereum 2.0 update, scheduled for mid-2022, is underway, which anticipates a change in the block validation mechanism, replacing traditional mining with computational power by mask, which are based on the amount of ETH accumulated by the validator.

Top experts in Brazil teach you to invest better in this asset class: Meet the Cryptoinvestor cycle!

See also  Government measures in Petrobras will give R$231/month to the poor for one year