CRYPTOCRUNCH NEWS UPDATES — FEBRUARY 6
Number of Bitcoin Whales Increase As Fiat Flows Into Exchanges
Bitcoin whales have increased since the beginning of 2021 by more than 200. On-chain data suggests that these accounts could be owned by institutional investors. Whales are accounts holding over a thousand bitcoin at current price. Glassnode’s data also showed that the fiat inflow to exchanges like Coinbase has also increased. Major institutions have been buying bitcoin dip including Grayscale and MicroStrategy.
Tastyworks Now Supports Active Trading of BTC, ETH, LTC, and BCH
Chicago-based online broker, Tastyworks, now supports active trading of Bitcoin, Ethereum, Litecoin, and Bitcoin Cash on its platform. Tom Sosnoff, co-CEO of tastytrade said that integrating Crypto trading was a response to the requests of their clients to understand the “how’s” and “whys” of trading crypto on Tastyworks. They are also working towards giving their clients the best Crypto perspective.
Twitter CEO Jack Dorsey Now Runs A Bitcoin Node
Twitter CEO Jack Dorsey told his twitter followers in a tweet that he now runs a Bitcoin node, a software that runs the Bitcoin blockchain. Dorsey’s twitter response to Bitcoin node software provider Umbrel, show that Dorsey is running the bitcoin node on an Apple computer that uses its latest M1 chip. Chip is a high-performance processor, that enables faster applications using less power.
Tezos Records Highest Number Of Contract Calls Amidst New dApps Launch
Tezos hits new record of contract calls, a 22% increase compared to December, in January 2021. This is 2.2 times the total amount of contract calls in July last year. New Dapps will be launching alongside Tezos upgrade: Edo, in February. This shows that the adoption rate of mainnet smart contracts is on the increase. Since July 2020, the total contract calls has increased to 1,209% compared to July total.
EY Partners With BSN To Offer OpsChain To Chinese Market
EY partners with China-based Blockchain Service Network (BSN) to extend its OpsChain to the Chinese market through Blockchain Open Source (BCOS) enterprise network by BSN. EY will offer OpsChain to developers in China through BSN’s Blockchain Open Source (BCOS) to enable them build decentralized apps on top of both public and permissioned blockchains that it supports which includes Polkadot, Ethereum etc.
Protego Bank Receives Approval From OCC To Custody Digital Assets
Protego Trust Bank becomes the second bank to receive conditional approval for a trust charter to custody digital assets from the Office of the Comptroller of the Currency (OCC), after Anchorage. The bank will offer a trading platform that will enable the issue of new digital assets and a peer-to-peer lending platform for its clients. Protego is a federally regulated bank and will be an advantage to institutions.
Transactions On The Ethereum Network Hits 1 Billion - Etherscan
Data from Etherscan shows that Ethereum network hit 1 billion transactions. Ethereum transactions has consistently surged since June 2020 and crossed the 1 million daily mark. This increase in transactions is catalyzed by increased the use of decentralized finance applications built on ethereum blockchain. $35 billion is currently locked up in DeFi protocols and so many transactions are been executed on these protocols like Uniswap, Aave etc
IOHK Delegates 3.2 Million ADA To 100 Private Stake Pools
IOHK delegated 3.2 million of ADA to 100 different private stake pools operated by the Cardano community as part of its greater plan to delegate 15 percent of IOHK’s total ADA holdings to a new set of pools each quarter and support operators in developing countries. A new application form for delegation will be shared with the community in late March or early April so that Stake pool operators can apply.
Ethereum Miners Revenue Hits A New Record of $3.5 Million
Glassnode data shows that Ethereum hits a new record as ETH miners earned $3.5 million revenue in a single hour as ETH price surges to a new all-time high above $1700. This revenue is the highest hourly revenue to date. The Ethereum blockchain rewards the miners with minted ETH when they solve complex computational algorithm. Revenue from mining covers the cost of electricity for the miners.