Major Malaysian Bank Invests In Regulated Crypto Exchange, Tokenize Xchange
Malaysian Bank, Kenanga Investment Bank Berhad enters a conditional agreement to acquire a 19% equity of Tokenize Xchange, a local Crypto Exchange, operated by Tokenize Technology, as part of their moves into the cryptocurrency industry. Kenanga Private Equity processed the Investment into the largest digital asset exchange by market share in Malaysia. The Exchange offers trading services for major cryptos like BTC and ETH.
Bitcoin Price Hits New All Time High
Bitcoin’s price today topped out at just over $47,000, a new all-time high for the world’s largest cryptocurrency. Its market cap is currently at around $855 Billion. Tesla, the electric car maker played an outsized role in producing today’s Bitcoin price surge. Since tesla revealed it has bought $1.5 Billion in BTC. Within an hour, the price had moved $4,000. After plateauing for a few hours, it continued upward, hitting never-before-seen barriers of $44,000, $45,000, $46,000, and (briefly) $47,000.
Elon Musk Believes Crypto is The Future Currency Of The Earth
Elon Musk, Tesla CEO said that crypto has a good chance of becoming the Currency of the earth, however he is unsure of which Crypto would be the future currency. Also, he shared his opinion on cryptocurrencies in a recent video clip while he signed autographs for fans. He said that some crypto will last in the long term and warned against the risks of investing in speculative assets. Musk called DOGE a joke project.
Grayscale Acquired 1.5 Times More BTC Than Minted By Miners
Hedge Fund manager, Grayscale Investments has purchased 41,430 BTC, worth a whopping sum of $1,634,413,500 which is about 1.5 times more BTC than was minted by miners in January 2021 which was a total of 28,943 BTC. Grayscale purchased 42,356 Bitcoin in the last 30 days. The firm acquired 665 BTC in the first week of February. Also, the firm currently holds 3% of all Bitcoin circulating in the market.
Ethereum Breaks All-Time High Value Above $1,800
The world’s second-largest crypto asset by market cap, Ethereum breaks all-time high above the $1,800 level. The price surge has been driven by the launch of Ethereum futures on CME on Feb. 8 (77 contracts were traded upon the launch yesterday). Ethereum market cap hits above value of $207 billion is now more valuable than some of the largest companies such as Cisco Systems, AT&T, PepsiCo in terms of market cap, according to AssetDash. In the past 24 hours, Ethereum hiked by 9.84%.
Twitter Activity For Bitcoin Hits ATH As Tesla Buys Bitcoin
Twitter activity for Bitcoin hits all-time high with 143,000 tweets in the last 24 hours from “non-bot accounts” after a massive endorsement from Tesla CEO, Elon Musk when the company bought $1.5 billion worth of BTC. BTC also hit new ATH value above of $48,000. This new highs beat the record of 140,000 from January 3, 2021. Co-founder and CEO of The TIE, Joshua Frank , said it’s evident that retail traders are actively bullish.
Bitcoin Beats Tesla, Now 7th Largest Asset By Market Cap
Bitcoin’s price surges to new all-time-high of over $48,000 catalyzed by the recent massive purchased of $1.5 billion worth of Bitcoin by Elon Musk’s Tesla, which pushed the market capitalization of Bitcoin upwards. Bitcoin is now the 7th largest asset in the world by market capitalization with $875 billion surpassing that of Tesla which is $811 billion. BTC is some dollars away from the Chinese giant Tencent ($911 billion).
Traffic Volume To Crypto Exchanges Hits Second-largest Volume in Three Years
Traffic to cryptocurrency exchanges increased to 344 million people in January 2021, a 75% increase from 200 million in December, for the second time in 3 years. 3 major exchanges experienced this inflow of massive traffic: Binance, Coinbase and Kraken. Changpeng Zhao’s Binance accounts for 28.8% of the traffic, Coinbase took a share of 25.1% of the Crypto market while Kraken took third place with a share of 6.19% of the traffic.