The price of Bitcoin (BTC) hit another all-time high on February 16 after a week of bullish news. Including the acceptance of BTC at Tesla and MicroStrategy’s plan to raise another $ 600 million to buy Bitcoin. The price of BTC reached $ 50,335 on the major exchanges in the market, before correcting and settling at $ 49,438. Which represents a historic event for Bitcoin.
Bitcoin had shown signs that its general momentum would not stop throughout this month. With Tesla and then Mastercard as catalysts, market participants were already convinced of the strength of their current bull run.
The Tesla purchase and the Mastercard acceptance announcement were made public days after MicroStrategy’s dedicated Bitcoin for Corporations summit drew an audience of around 8,000 executives.
While Tesla made arrangements months earlier, the implications of the event were clear: Companies wanted and planned to add Bitcoin to their balance sheets.
Now, despite the fall that Bitcoin had in a matter of seconds, analysts do not rule out that it will rise again in the next few minutes. And it’s trading above $ 50,000 again.
What was seen a few minutes ago confirms the thesis presented by various personalities and analysts. Among which stand out the billionaire Mike Novogratz who anticipated at the end of December that this would happen. And recently Bloomberg analyst Mike McGlone, who pointed out earlier this month the possibility that the digital currency could overcome this barrier.
MicroStrategy Files to Offer $ 600 Million in Notes to Buy Even More Bitcoin
The business intelligence firm said it hopes to give initial buyers of the notes an option to buy an additional $ 90 million. Which makes the total potential offer 690 million dollars.
MicroStrategy, the business intelligence company plans to buy even more Bitcoins. Microstrategy said Tuesday that it intends to offer a total principal amount of $ 600 million in notes. Convertibles due 2027.
The Nasdaq-listed company said it hopes to give initial buyers of the notes an option to buy an additional $ 90 million. Which makes the total potential offer USD 690 million.
Major altcoins are also on the rise
Bitcoin enthusiasts aren’t the only ones getting good news this February 16. Since the main cryptocurrencies of this ecosystem also capitalize notable increases in the last 24 hours. Noting especially some cases with more pronounced gains.
This was the case with currencies such as Cardano (ADA), Polkadot (DOT), Litecoin (LTC), Monero (XMR) and NEM (XEM). Which capitalize earnings greater than 3% at the time of publication.
But the most notable cases were Cosmos (ATOM) and IOTA (MIOTA), currencies that at this time are on the rise with increases of 24.7% and 12.46% respectively.
As for the price of Bitcoin, the leading cryptocurrency in the market, and the protagonist of today, is listed at USD 49,438. Registering an increasing variation of 3.47% in the last 24 hours. This is stated by our internal tool Crypto Online.
Uniswap Becomes First DEX to Process Over $ 100 Billion in Trading Volumes
Cumulative trade volumes on Uniswap rose to hit a milestone of $ 100 billion. And Uniswap became the first decentralized exchange (DEX) to do so.
Hayden Adams, the founder and CEO of DEX, took to Twitter to share a tweet documenting Uniswap’s growth, calling it “an exciting milestone for DeFi.”
With the emergence of DeFi, today’s crypto market has witnessed the rise of decentralized exchanges in a big way.
In fact, a report by Messari last September found that DEXs seriously threatened the dominance of centralized exchanges. While the monthly DEX volume last September was around $ 26 billion, in January 2021 DEX volumes exceeded $ 50 billion.
Uniswap accounted for a majority of these volumes, being the easily market-leading platform among DeFi protocols that facilitate decentralized commerce.
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