Processing all the information from the last week in the crypto industry can be quite a complicated task. That is why today, from CryptoTrend, we bring you the most outstanding news of the week, including: Bitcoin, Ethereum, Uniswap and much more.
Top Crypto News of the Week
1. Bitcoin: New Friends and Advocates
The week for Bitcoin got off to a pretty good start with Ruchir Sharma, a strategist at Morgan Stanley, recommending the crypto leader as an alternative to stocks amid the global economic context.
Without a doubt, this was a great way to start the week. Later on Tuesday, Aviatrade reported that you can purchase a 2014 Gulfstream G650ER for $ 40 million with Bitcoin. Than?! Who would have thought it a few years ago?
But, this is not the best, in the middle of the week MicroStrategy renewed its trust in Bitcoin and made it its main reserve asset. Following that announcement, the company reported that it had acquired an additional 16,796 Bitcoins.
Likewise, Robert Kiyosaki took to Twitter to mark a significant opportunity to acquire Bitcoin. According to the author of “Rich Dad, Poor Dad,” if the Coronavirus vaccine is discovered, the price of Bitcoin will plummet and consequently it will be the ideal time to buy.
Thus, Bitcoin was once again among the most outstanding news in the crypto community. Of course! It is the leading crypto.
2. The case of Ethereum, its fees and price
The headaches around Ethereum are increasing every week. And, precisely for this reason, it is among the most outstanding crypto news of the week.
In this way, on September 17 we reported on CryptoTrend that, according to Glassnode, Ethereum miners would have set a new record in their total income.
In particular, the sum amounted to $ 1 billion in just one hour! How can it be?
As we have previously explained in CryptoTrend, what happens in Ethereum is mainly due to the pressure generated by the extraordinary growth of DeFi.
In fact, the increase in spending on fees coincided with the launch of Uniswap’s governance token, which has seen very rapid growth.
As we reported yesterday, the UNI launch caused Total Locked Value (TVL) to increase 75% in 24 hours, going from having a TVL of $ 750 million to about $ 1.84 billion currently according to DeFi Pulse.
On the other hand, the DeFi fever is so important that, just this week, Bitcoin reached $ 1 billion that has been tokenized through DeFi protocols on Ethereum.
In this way, many experts are considering the event as a key catalyst for the price of crypto. According to our technical analysis ETH could be starting a significant upward momentum.
3. Bitcoin future volume on Bakkt hits a new high crypto
Then, earlier in the week, Bakkt reported reaching a record high in daily trading volume for Bitcoin futures contracts. And, the news became one of the most prominent in the crypto community.
So, as we well know, this week we saw a recovery in the price of Bitcoin as it managed to ascend to the key barrier of $ 11,000. Evidently, the movement of the crypto market increased traders’ interest in futures.
In this way, on Tuesday Bakkt observed a record of 15,955 contracts reaching 200 million dollars. And while it’s good news, Bakkt still lags behind the Chicago Mercantile Exchange.
4. Sheila Warren at Ripple Swell Global 2020
This week the famous event that brings together industry spokespersons, Ripple Swell, announced Sheila Warren, Director of the Blockchain and Digital Assets team at the World Economic Forum (WEF), as its first speaker.
The event will take place on October 14 and 15. In addition, Sheila Warren will be in charge of examining «what it takes to design inclusively and with user protection in mind and how legislators are thinking about digital currencies and blockchain technology today and tomorrow ».
5. They require Bitfinex and Tether to comply with the crypto order
This week it appears that the New York Attorney General’s (NYAG) office lost patience with Bitfinex and Tether. Basically, the authorities indicate that it is time for them to comply with the 17-month-old document submission order.
In this way, for those who do not remember, in April 2019, the NYAG filed a lawsuit against Bitfinex and Tether. They are basically accused of having used USDT to cover a loss of USD 851 million.
In any case, this remains until today, since they await the documents related to the embezzlement case.