Daily news update: November 10th, 2021

Ethereum, week 32, daily, news

Here you will find our daily update, which will provide you with all the main information and events on the crypto markets for the previous day.

Crypto market update

Following the latest all-time high charted yesterday, bitcoin has lost some traction and has dipped below $67,000. Most altcoins have also retraced, aside from Litecoin. LTC has marked another impressive increase and has tapped a new six-month high.

Bitcoin (BTC) is now trading at 66,838 USD (all data from Coingecko.com)

Ethereum (ETH) is now for 4,725 USD

PlatonCoin (PLTC) is now for 0,388 USD

Total marketcap is currently at 3.048 trillion USD

Daily news update

Bleeple and NFT for 28,9 mil. USD: Digital artist Bleeple with auction house Christie’s sold his human-size 3D video sculpture and NFT hybrid in their first live event since the pandemic. The piece exceeded expectations, the projections had “Human One” selling for $15M and it almost doubled that.

Visa and crypto: Visa’s head of crypto Cuy Sheffield said that investing in cryptocurrency has become a lot cooler thanks to an influx of creative types drawn in by the booming NFT sector. Sheffield said that a “whole new class” of mainstream users are flocking to crypto and that NFTs are attracting people with a broad range of interests such as music, art and culture who are “setting up crypto wallets in waves.” “Crypto is becoming cultural, it’s becoming cool”.

SHIB and decentralization: Funds distribution of small altcoins is always a point of discussion, especially when the majority of the supply is being held by only one wallet. The same discussion recently appeared after Twitter users noticed that 72% of the total SHIB supply is being held in 10 wallets, but only one wallet is accountable for 51% of it.

Huobi in Singapore: Huobi Global, one of the world’s largest cryptocurrency exchanges by trading volumes, is winding down operations in Singapore shortly after exiting China. Huobi will shut down accounts of all Singapore-based users by the end of March next year, the company officially announced late Tuesday. All Huobi clients based in Singapore should close active positions and withdraw their digital assets before March 31, 2022, Huobi said.

SEC and DeFi: SEC Commissioner Caroline Crenshaw has published a “Statement on DeFi Risks, Regulations, and Opportunities” on November 9, advising decentralized finance platforms to contact them. In it, she acknowledged that crypto is now part of the mainstream, whether on news, social media, entertainment, and in investment portfolios. In an effort to clarify the regulatory status of DeFi in the U.S., the report stated that many DeFi products closely resemble those in the traditional financial marketplace.

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