Today we bring you once again the most outstanding crypto news of the week. In particular, the last week in the crypto market has been characterized by warning about the possible regulation of Bitcoin as it is the center of attention.
Top Crypto News
At CriptoTendencia we recognize how difficult it can be to keep up with all the information that runs in the crypto market. Therefore, we want to make your life easier and we bring you the most important thing that happened this week.
Bitcoin will fail to escape crypto regulation
At the end of this week Deutsche Bank Research issued a report where it was established that «In terms of total currency in circulation, Bitcoin is the third largest in the world, after the US dollar and the euro.».
That is a problem? Not necessarily. On the contrary, it shows that the world is beginning to recognize the potential of the crypto leader, but governments are not blind. In fact, Deutsche Bank recognizes that Bitcoin is here to stay and, therefore, they estimate that the crypto market will begin to be regulated by the end of 2021.
Also this week, Ryan Selkis, CEO and founder of Messari, noted on Twitter that he had never been so bullish on crypto before. However, he points out that he believes that all «could be misjudging global regulatory risk».
Basically Selkis assured that while the crypto market seemed to have an announced and unlikely death, it was not a threat. But, once the crypto market started to gain relevance, regulators start to see threats everywhere.
Visa begins to work under the hypothetical case that cryptos are conventional
This week Visa CEO Al Kelly shared his updated take on cryptocurrencies and the company’s position during the Leadership Next podcast with Alan Murray and Ellen McGirt.
During the podcast Kelly perceived cryptocurrencies under two categories: One is the speculative asset and the other is digital gold. In both categories it seems to be working according to Kelly.
In this sense, it seems that Visa plans to enable the purchase of Bitcoin and, in addition, develop a crypto wallet that converts Bitcoin into a fiat currency with the aim that crypto can be used in any of the 70 million places around the world where Visa is accepted.
But, in addition, Visa sees significant potential in Stablecoins. In this way, Kelly assured that Visa is preparing in case cryptos take off even if it is not 100% sure that it will happen.
MDEX is positioned as the leader among decentralized crypto exchanges
With over $ 1.7 billion in daily volume, MDEX is ranked number one among the largest decentralized crypto exchanges. In this regard, as we reported in CryptoTrend, it recently peaked well above the current daily volume, $ 3,641 million, which undoubtedly keeps it quite an advantage over the competition.
It is worth remembering that MDEX is a market-making automatic decentralized exchange, which is based on the concept of mutual funds. And yes, it has managed to outrun Uniswap in both operating costs and speed.
Ethereum may exceed USD 10,000
Prominent crypto influencer Lark Davis, better known as “The Crypto Lark,” indicated that the Ethereum supply crisis will drive the price above $ 10,000.
“This week we had the second highest Ethereum outflow from centralized exchanges with 235,000 Ethereum withdrawn in one hour. By the way, when the value went down, consumers increased enormouslyDarvis explained. But, he also added that «Ethereum is going to be a five-digit asset, not similar to $ 10,001. Probably much higher than that».
Stock-to-Flow Model Targets $ 288,000 Bitcoin Price for December
In various social media posts on March 17, PlanB joined others in predicting huge new crypto all-time highs for the BTC / USD pair. Among them is the prediction that Bitcoin could be worth $ 288,000 in December 2021.
«In my opinion, BTC will not stop at 100,000. It will continue to the S2FX median price level of $ 288,000 (the all-time high will be higher)», pointed Plan B.
In a few lines …
- Bottlepay developed an option where you can transfer BItcoin (BTC) from Twitter in real time.
- Morgan Stanley will allow certain clients to access Bitcoin (BTC) funds, but it won’t be easy.
- Scott melker considers that the US stimulus package will not have the expected effects on Bitcoin.