CRYPTOCRUNCH NEWS UPDATES — 7 FEBRUARY, 2021
XRP’s Global Trading Volume Increased To 299% In Q4 of 2020
XRP’s global trading volume surged to an impressive 299% in the last quarter of 2020 to $148.15 billion despite suspension from 33 markets because of lawsuit with U.S. Securities and Exchange Commission. The trading restrictions caused XRP to lose just about 12.49 percent. Ripple’s XRP sales increased by 122 percent in the last quarter to $111.12 million, 0.05 percent of the global trading volume.
https://cryptocrunchapp.com/news/xrps-global-trading-volume-increased-to-299-in-q4-of-2020/
Miller Value Funds Files With SEC To Invest In Bitcoin
Hedge Funds manager, Miller Value Funds files with the Securities and Exchanges Commission (SEC) to invest in bitcoin and gain bitcoin exposure through Grayscale Bitcoin Trust. The Miller Value fund to invest is the Miller Opportunity Fund, with holdings in stocks like Uber, Alibaba and Facebook. The funds bitcoin exposure threshold is 15% of its assets, after which they will not make further Investment with Grayscale.
https://cryptocrunchapp.com/news/miller-value-funds-files-with-sec-to-invest-in-bitcoin/
Theta (THETA) Launches Its First Decentralized Exchange Called ThetaSwap
Theta (THETA) launched its first decentralized exchange platform, called ThetaSwap. Version 1 users of the DEX, ThetaSwap will be able to swap Theta-based TNT-20 tokens the same way tokens are swapped on Uniswap. Also, users could be able to earn incentives with the TNT-20 token standard when they interact with the ThetaSwap v1. Upgrades to ThetaSwap will include support for wrapped tokens and also TFUEL.
https://cryptocrunchapp.com/news/theta-launches-its-first-decentralized-exchange-called-thetaswap/
Nevada Government To Give Power To Blockchain Technology
Nevada Governor Steve Sisolak plans to propose for “opportunity zones” to give large tech companies ability to create their own governments. These opportunity zones will give the tech companies power to impose taxes, form school districts and justice courts and provide government services. The zones would be specific for “innovative technology,” like blockchains, AI, and robotics. Governor Sisolak thinks Blockchains would be good as opportunity zone.
https://cryptocrunchapp.com/news/nevada-government-to-give-power-to-blockchain-technology/
Grayscale Buys $177 Million Worth of ETH Within 4 Days
Grayscale bought 104,990 Ethereum this week, bringing their ETH total holdings to three million ETH, which is worth $5 billion. The investment firm bought $177 million worth of ETH within 4 days, an almost double increase from the $100 million worth of ETH they bought in December. More demand could mean that the firm will buy more ETH. Ether’s weekly volumes have already doubled in the past days.
https://cryptocrunchapp.com/news/grayscale-buys-177-million-worth-of-eth-within-4-days/
Cardano Overtakes XRP as Fourth Largest Cryptocurrency
As more users start interacting with DeFi (decentralized finance) on Ethereum, transaction fees are rising. This leads to the greater adoption of “Ethereum killers”. These are alternative smart contract platforms with higher transaction speeds and lower costs. One platform seeing increased attention is the Cardano network. In particular, ADA, the native currency of the Cardano smart contract platform with Market cap of $19.88 Billion, overtook XRP as the fourth largest crypto by market cap.
https://cryptocrunchapp.com/news/cardano-overtakes-xrp-as-fourth-largest-cryptocurrency/
Elon Musk’s Twitter Poll Suggests People Prefer DOGE Over Altcoins
Elon Musk CEO of Tesla and SpaceX, launched a poll on Twitter to find out the twitter community’s stance on DOGE. Musk asked the respondents to share their opinion on “whether the future currency of Earth will be the meme coin DOGE or “all other crypto combined”. Majority of the respondents about 71.3 percent chose DOGE, while the remaining 28.7 percent chose the second option which is “other crypto combined”.
https://cryptocrunchapp.com/news/elon-musk-twitter-poll-suggests-people-prefer-doge-over-altcoins/
Cardano Becomes A Multi-Asset Blockchain Following An Update Called “Goguen Mary”
IOHK team announced that following an update called “Goguen Mary”, Cardano (ADA) users will be able to create and use custom native tokens for transaction on its network. With this upgrade, Cardano becomes a multi-asset blockchain. The native tokens will exist on the Cardano network’s mainchain, and users can use them same way they use the native token, ADA. However, ADA remains the network’s “main currency”.
