CRYPTOCRUNCHAPP NEWS UPDATES — 8 FEBRUARY, 2021
Ethereum Surpasses Wells Fargo, Morgan Stanley, AmEx
Ethereum, a decentralized ecosystem with market cap of $178 Billion is now more valuable than some of the largest companies on Wall Street in terms of market cap. Banking giant Wells Fargo, for example, has a total market capitalization of $134.5 billion according to the latest data. Competitor Morgan Stanley is not far behind with $103.4 billion. Payments global processing giant American Express sits just under the twelve zeros mark with a valuation of $93.5 billion.
https://cryptocrunchapp.com/news/ethereum-surpasses-wells-fargo-morgan-stanley-amex/
Snoop Dogg Joins Elon Musk In Pumping Dogecoin
DOGE is rallying once again after Elon Musk, Snoop Dogg, and Gene Simmons tweet Doge Army memes. Rapper Snoop Dogg and Kiss’ Gene Simmons have been both expressing their support for the “Doge Army” over the weekend alongside Tesla CEO Elon Musk. As a result, the cryptocurrency’s price has rallied by 88% in last 7 days. Snoop tagged Musk in the tweet, which features the Shiba Inu ‘Doge’ meme (Dogecoin’s avatar) photoshopped onto the cover of Snoop’s album.
https://cryptocrunchapp.com/news/snoop-dogg-joins-elon-musk-in-pumping-dogecoin/
Bitcoin Mean Hash Rate Hits New ATH of 176 EH/s
Bitcoin’s mean hash rate hit a new all-time high of over 176 exahashes per second (EH/s) on Friday, according to data from Glassnode. Two major factors that could have influenced this are growth of Bitcoin and transaction fees. As Bitcoin grows in value, miners revenue also increases. With trading comes transaction fees which is an added revenue for miners. Bitcoin’s price surge to $38000 coincided with the increased mean hash rate on Friday.
https://cryptocrunchapp.com/news/bitcoin-mean-hash-rate-hits-new-ath-of-176-ehs/
Mexico’s Third Richest Person Ricardo Salinas Includes #Bitcoin In Twitter Bio
Mexico’s third richest person and billionaire investor, Ricardo Salinas Pliego, includes Bitcoin (BTC) hashtag to his Twitter bio over the weekend, drawing the attention of his 840,000 Twitter followers and crypto twitter community. Salinas reveals that Bitcoin is his best Investment ever. His bought Bitcoin at $200 in 2013, and sold at $17,000s during the 2017 bull run.
Tesla Acquires $1.5 billion BTC Pushing BTC Price To Over $40,000
Tesla files with United States SEC as it acquires $1.5 billion in bitcoin. Also, the company plans to also accept bitcoin in the future as a form of payment for its cars, buy and hold digital assets at intervals or for long term. News of this purchase pushed Bitcoin’s price up by 7%, more than $40,000. Tesla’s choice of bitcoin as its major cryptocurrency would promote Bitcoin in the Crypto space.
https://cryptocrunchapp.com/news/tesla-acquires-1-billion-btc-pushing-btc-price-to-over-40000/
Mike Shinoda Of Linkin Park Mints His First NFT
Mike Shinoda, the co-founder of Linkin mints his first non-fungible token (NFT) called “One Hundredth Stream.” Bidding on the NFT started with 0.3 WETH and ended with a bid of 7 WETH on the 11th bid valued at $11,389. The NFT is listed for sale on Zora marketplace for limited products. Shinoda joins the increasing list of celebrities flooding NFTs as the NFT market booms.
https://cryptocrunchapp.com/news/mike-shinoda-of-linkin-park-mints-his-first-nft/
Hardware Wallet For Chinese Digital Yuan Launches in Xiong’an New Area
The Xiong’an branch of the Agricultural Bank of China in Hebei has launched the first Chinese hardware wallet for the digital yuan. The wallet was developed by the Party Working Committee of the Xiongan New Area and the People’s Bank of China branch in Shijiazhuang. The hardware wallet supports dual offline payments without an internet connection. This is part of China’s plan to build a smart new city in Xiong’an New District in 2021.
Chicago Mercantile Exchange Launches Ethereum Futures Trading For Institutional Investors
The Chicago Mercantile Exchange (CME) has launched Ethereum futures trading on its Platform. This will make it easier for institutional investors to gain exposure to ethereum. Data from Skew shows that a total of 77 Ethereum futures contracts (worth 50 ETH each, about $81,650 each) have been traded since the launch. Lior Messika, EU venture fund Eden Block executive said that Ethereum is positioned and ready for investors.
