The main cryptocurrency on the market, Bitcoin rallied above $ 15,500. At the time of writing, the ecosystem’s leading cryptocurrency is trading at $ 15,900 according to our online crypto tool. Obtaining thus, a growing variation of 4.68% in the last 24 hours.
Just as Bitcoin rallied, another currency that is doing very well on November 11 is Ethereum (ETH). The digital currency of the Ethereum network, which registers an increase of 6.52% in the last 24 hours, trading at about USD 475.
For its part, the performance of the crypto market goes hand in hand with a slight drop in the price of gold. The metal is trading at about USD 1,868 an ounce in the main markets, with a fall of -0.56% in the last 24 hours.
The second largest bank in the world to issue $ 3 billion in BTC-tradable bonds
China Construction Bank (CCB) has turned to Hong Kong-based digital asset exchange Fusang for the issuance of debt securities worth USD 3 billion through a blockchain.
According to a report Wednesday by the South China Morning Post, the tokenized bond certificates will be issued through the state bank’s Labuan, Malaysia branch for a period of three months.
If successful, Fusang intends to work with the Chinese bank “Big Four” in issuing certificates in other currencies, including the yuan. Fusang CEO Henry Chong said in the report.
The innovation is that these bonds are being used as tokenized certificates of deposit on the blockchain network, which supports the issuance of these small-sum bonds. Bonds that are not blockchain-based are typically sold at higher lows and therefore limited to professional investors or other banks.
Additionally, the tokenized certificates of deposit will be tradable on the Fusan exchange. The exchange, which is regulated in Labuan, will launch live trading of the bonds on November 13.
In particular, as Fusan supports cryptocurrency trading, traders will be able to exchange Bitcoin (BTC) for US dollars to buy the bonds. Transactions will be charged at a commission.
CoinMetrics analysts say Bitcoin is unstoppable
Analysts say that Bitcoin still has the upper hand in a key category, according to a November report from crypto firm Coin Metrics.
The Coin Metrics report looks at the centralization observed in cryptocurrency holdings through data from the respective blockchains of those assets. “Chronism, among other unfair models of supply distribution, inevitably results in incredibly centralized monetary bases”explains the report.
Likewise, through charts and examples, the report explains the initial journey of Bitcoin, which produced a vast distribution of coins. Mining activities have also impacted the dispersion of assets.
However, the data in the report is largely based on analysis of the cryptocurrency wallet address. Sometimes participants use multiple wallets and addresses, so the accuracy of the results remains questionable.